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MAF reveals 13 new sustainability targets for 2018

MAF says 66% of its 2013 sustainability targets were achieved

George Kostas, CEO, Majid Al Futtaim Properties.
George Kostas, CEO, Majid Al Futtaim Properties.

Majid Al Futtaim (MAF) has revealed 13 new sustainability targets for 2018 as part of its 2013 Sustainability Report, “Transforming Tomorrow”, which it released on Monday.

The 13 new targets, which focus on both generating profit and safeguarding the environment, fall within three key areas—these include creating high performance assets, fostering prosperous communities, and promoting pioneering standards.

According to MAF, the strategy includes goals for water, waste energy and carbon efficiency, labour conditions in the supply chain, health and safety, green building standards, local economic development and enhancement of the public realm, etc.

George Kostas, Majid Al Futtaim Properties' CEO, said: "The latest edition of our Sustainability Report clearly illustrates the significant benefits for our businesses and surrounding communities that our Sustainability Strategy has yielded over the past five years.”

“We have also identified a number of areas in which we can further improve and our new long term targets raise the bar for the MENA region,” Kostas said. “We hope to inspire others to follow our example, take action and adopt sustainable practices.”

The sustainability report includes MAF’s five-year sustainability strategy that aims to "enhance people's lives through sustainable real estate" and outlines the outcomes of existing efforts.

The report also acknowledges that whilst 66% of its 2013 sustainability targets were achieved, and 25% were partially achieved, the company did not complete work on all of its targets, like meeting its mall energy reduction target of 15%.

But included in its list of successes are 19.9% reduction in mall water consumption since 2009, 33% of assets receiving green building certification since 2009, and a saving of AED1.5mn ($408,000) in hotels owing to MAF’s environmental investment.

"Our sustainability policies reflect our social commitment to our communities, our desire to achieve greater operational efficiencies and the rise of ethical consumerism across the region,” said Ibrahim Al-Zu'bi, head of sustainability, Majid Al Futtaim Properties.

“By putting sustainability at the heart of our business we are protecting and increasing long-term value and our results have already demonstrated that,” Al-Zu'bi said. "Meeting these goals will be challenging, but by setting practical targets and using clear communication, we can realise our mission."

 

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