(MENAFN - Khaleej Times) The National Bank of Abu Dhabi (NBAD), has improved its ranking moving up three places to third position in the S&P Hawkamah ESG Pan Arab Index, reflecting NBAD's strong environmental, social and corporate governance practices and its continued robust standing among publicly-traded MENA companies.
The index, developed by Hawkamah the Institute for Corporate Governance, measured the top 150 Pan Arab listed companies based on their performance on nearly 200 environmental, social and governance (ESG) metrics.
NBAD has been in the top 10 of the index since it was established, consistently improving its position from eighth in 2010, to sixth in 2011, and third this year.
NBAD's continued advancement in the index confirms that NBAD's transparency and ESG performance compares strongly against most of the top listed companies in Bahrain, Egypt, Jordan, Lebanon, Kuwait, Morocco, Oman, Qatar, Saudi Arabia, Tunisia and the UAE.
"NBAD is committed to be accountable to its stakeholders; one way we achieve this by being a transparent and sustainable business with strong corporate governance," says Abdulla M.S. AbdulRaheem, the Deputy Group Chief Executive of NBAD.
"We believe our transparency and ESG performance serves as a model to encourage the market to continue adopting these practices which will strengthen our national and regional economy and position in global commerce."
Sally Paterson, the Head of Business Planning and Strategy at NBAD, said: "NBAD's advancement in the S&P Hawkamah ESG Pan Arab Index confirms that NBAD is a responsible forward-looking company committed to sustainable growth."
She continued: "In 2013 our strategy will include working with our internal stakeholders to integrate sustainability key performance indicators (KPI) into bank-wide objectives, involving all parts of the business from top management through to the members of our Sustainability Stakeholder Group and our sustainability champions."
