Aldar to develop Carbon Neutral Action Plan by the end of 2021
Greg Fewer, chief sustainability and financial officer said that sustainability was at the heart of operations at the developer
Abu Dhabi-listed real estate developer Aldar Properties will develop a Carbon Neutral Action Plan by the end of 2021, as the developer charts a roadmap for its commitments towards sustainability goals
The developer unveiled it second sustainability report, which highlighted that there was more than 11% increase in group revenue, as In-Country Value certified suppliers reached 33.3% and weighted schedule performance index topped 92%.
Talking about Aldar’s sustainability initiatives, Greg Fewer, chief financial and sustainability officer said in a video: “Sustainability and commercial performance truly go hand-in-hand. Aldar doesn't treat sustainability as a standalone concept. The principles of sustainability are truly embedded throughout our operations and continuously informed the way that we operate, innovate, collaborate, and grow. Sustainability is at the heart of our operations.”
The environment pillar highlights of the report show that 79% of Aldar’s developments are ‘Estidama 1 Pearl’-rated and 21% are ‘Estidama 2 Pearl’ rated.
Meanwhile, the group reduced 386,072 tonnes of carbon footprint, simultaneously reducing the use of water by 5.6%, with 89% recycling rate in development management.
Commenting on Aldar’s second sustainability report, CEO of Aldar, Talal Al Dhiyebi, said: “From the UAE Green Agenda to the UN Sustainable Development Goals, our country’s leadership have consistently placed sustainability at the heart of their development plans and set a strong benchmark for others to follow.
“Aldar’s second sustainability report marks our continued contribution to these important national agendas, as well as a recognition of the growing importance of ESG issues to our stakeholders and the wider investment community.”
The developer has made a series of commitments as part of its Environmental, Social, and Governance (ESG) aligned across the company’s economy, people, community, and environment pillars. These include the development of Aldar’s Carbon Neutral Action Plan, the integration of sustainability into investment criteria and due diligence, and the auditing of all primary contractors against the company’s Worker Welfare Policy by the end of 2021.