The UAE’s Minister of Climate Change and Environment has been appointed as the first female board member of the country’s largest bank, First Abu Dhabi Bank (FAB).
Mariam Mohammed Saeed Hareb Al Mheiri’s appointment was announced at the bank’s general assembly and was confirmed by a spokesman to Zawya.
The UAE is to host the United Nations climate change conference COP 28, which will take place in Dubai, starting November 30.
Group CEO Hana Al Rostamani, who herself became the bank’s first female CEO in 2021, highlighted the bank’s membership of the Net-Zero Banking Alliance in her speech to the General Assembly, saying the bank was the first in the GCC and MENA to commit to Net Zero.
The bank facilitated $9 billion worth of sustainable projects in line with its target of $75 billion by 2030, and half of bond issuances were in green format, she said.
“We have grown our range of sustainable accounts, loans and finance offerings to support our customers in achieving their own sustainability goals,” she added.
The UAE’s stock market regulator, the Securities and Commodities Authority (SCA) has set a quota which means that listed companies must have at least one woman board member by 2025.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)