Abu Dhabi, July 20 (WAM) - The Environment, Waste Management and Renewable Energy Company (EWM), a member of Abu Dhabi Group, and the Islamic Bank of Abu Dhabi (IBAD) signed an agreement to process and recycle electronic waste and end-of-life information technology assets belonging to IBAD. This aims to enhance the safe and sustainable management of electrical appliances’ waste, supporting circular economy goals through EWM's subsidiary company, Inverserve, which specializes in processing electronic waste.

The agreement establishes a new framework for joint cooperation in the fields of collecting, recycling, and recovering resources from electrical and electronic waste, as well as raising awareness and promoting responsible disposal practices.

The agreement helps to establish a safe and responsible approach to managing electronic waste by collecting and processing end-of-life information technology assets, recovering valuable materials from them, ensuring the secure destruction of data, and providing documented and auditable records that support IBAD's environmental, social, and governance (ESG) requirements.

“Institutional partnerships are a key driver in accelerating Abu Dhabi’s transition to the circular economy by developing practical models that can turn waste into measurable value,” said Ahmed Al كيومي, Executive Director of Strategy and Business Performance at ADMA-OPCO. “The technical assets that are no longer in use are rich with valuable resources and materials that can be recovered and better utilized within the framework of the circular economy. Through this collaboration with ADIB and by leveraging Envirserv’s specialized expertise, we aim to transform these assets into a structured program for value recovery, which will generate direct and tangible returns.”

This agreement supports the bank’s broader strategy for sustainable financing, under which it has committed to providing AED 60 billion in sustainable finance by 2030. By the end of 2025, the bank had already mobilized AED 20.3 billion, reflecting tangible progress toward achieving this goal.

As a signatory to the Extended Producer Responsibility (EPR) Framework Pledge issued by the Ministry of Climate Change and Environment in the UAE, ADIB continues to develop innovative solutions for the circular economy and financing transformation, which will help reduce waste going to landfills and accelerate the development of circular value chains.