Majid Al Futtaim malls produce energy to power 3,500 households
The retail conglomerate has published its annual Sustainability Report for 2019, showcasing its key milestones for 2019
Majid Al Futtaim reported in 2019 to have reduced its group-wide operational carbon emissions by 2.4% and water consumption by 1.6%, despite an increase in operational floor area by 37% since 2016.
The retail and leisure conglomerate has published its annual Sustainability Report for 2019, showcasing the key sustainability milestones the company achieved in 2019.
The report underscores Majid Al Futtaim’s commitment to the UN Sustainable Development Goals (SDGs), and is a showcase of the company’s progress towards its net-positive commitment.
In 2019, the company also generated approximately 14 million kWh of renewable energy through its shopping malls, which is enough to power more than 3,500 average households for one year.
In an attempt to cover the electricity demand of majority of its Carrefour stores in Jordan, the company implemented power purchase agreementsas (PPAs). Majid Al Futtaim also increased its green building portfolio to 29 green-certified buildings.
Among its 'firsts' in sustainability in 2019, the company raised two green sukuks worth $1.2 billion, with the first issuance in May 2019, becoming the world’s first benchmark-size corporate bond of its kind. In November 2019, Majid Al Futtaim became the first company in the MENA region to commit to phase-out single-use plastics by 2025, it stated in the report.
The company's efforts to phase-out single-use plastics include a zero waste ‘Green Home’ bio-certified, vegan and cruelty-free detergent refilling station at Carrefour in Mall of the Emirates; use of cotton bags at fruit and vegetable sections in several outlets; and 'green' cash counters across 33 Carrefour hypermarkets in the UAE.
In addition, Majid Al Futtaim – Ventures has already removed 3,74,000 single-use plastic bags from its outlets, including VOX Cinemas, Magic Planet and Little Explorers, and has also eliminated plastic cutlery and straws in food outlets across the business.
In its Carrefour business, Majid Al Futtaim introduced the region’s first two in-store hydroponic farms, which use 90% less water than traditional soil agriculture and deliver around 31kgs of fresh herbs and microgreens daily.
Speaking about the company's sustainability milestones in 2019, chief sustainability officer, Majid Al Futtaim - Holding, Ibrahim Al-Zu’bi, said: “2019 was a year when climate change awareness and action came to the fore, with social movement groups, corporates and governments stepping up their sustainability efforts. However, 2019 was also the year in which the novel coronavirus started to spread across the globe, highlighting the need for collective action to ensure resilience and a sustainable future.”
As we navigate this crisis and the new challenges brought by the COVID-19 pandemic, our role in protecting the environment, the wellbeing of our employees and the communities we serve is paramount. In 2020, we continue to work tirelessly towards our net-positive commitment, phasing-out single-use plastics as we move ever closer towards a circular economy."
Majid Al Futtaim aims to continue to improve its environmental sustainability performance by developing a framework for calculating the embodied carbon emissions associated with its refurbishment and development projects and setting carbon reduction targets. It has also undertaken two research projects to understand the potential and opportunities around investing further in renewables and water.
Recognising the need to generate awareness on sustainability and highlight its importance, the company developed a group-wide sustainability e-learning programme that will be rolled out to all employees in 2020, it stated.