● Aldar is the first company from the Middle East to join the initiative’s expert advisory team for the buildings project
● The House will help define the initiative’s climate neutrality criteria, standards and strategies
Abu Dhabi, United Arab Emirates: Aldar Properties PJSC (“Aldar”) has joined the Expert Advisory Team for the Science-Based Targets Initiative (SBTi) and becomes the first company from the Middle East region to advise real estate and construction companies around the world on setting climate neutral targets based on Science. The Science-Based Goals Initiative is a partnership between the CDP Foundation, the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
More than 3,000 companies around the world are working with the Science-Based Goals Initiative to reduce carbon emissions and support the achievement of the Paris Climate Agreement’s goals of keeping the rise in global temperatures well below 2 degrees Celsius above pre-industrial levels limit, and continue efforts to maintain that increase. Within 1.5 ° C. The initiative aims to help companies reduce carbon emissions in the real economy by encouraging science-based targeting.
The participation of Aldar’s senior executives, who have extensive knowledge and experience in the field of sustainability, will inform the decision-making process within the initiative’s expert advisory team, and will help the team establish principles, definitions and benchmarks for science-based goals, which will serve as a benchmark for real estate and construction companies around the world. . The climate-neutral methodologies developed by the Buildings Project Advisory Group will be submitted for approval by CDP, UN Global Compact, World Resources Institute and WWF before being made available at no additional cost to all initiative stakeholders, which will help them to align their goals. with the goals of the Paris Agreement.
The CGE will also contribute to the development of research articles and participate in activities and events dedicated to promoting the importance of companies adopting science-based goals. The initiative’s advisory boards consist of foundations and corporations, as well as a trusted group of academics, consultants, non-profit organizations and multinational organizations.
Greg Fewer, Chief Financial Officer and Sustainability at Aldar, said: “We are delighted to join the Science-Based Goals Advisory Team, which is a highlight of Aldar’s commitment to sustainability, and in recognition of its pioneering role in the set of standards for environmental, social and management practices in the region. There is an urgent need to establish reliable and standardized disclosure standards and procedures as investors, lenders and rating agencies demand greater access to non-financial corporate reports. Together with our partners in the initiative, we have supported and accelerated the world’s movement towards climate neutrality.”
Aldar’s sustainability strategy aims to improve the company’s practices in this area and continue its positive role in developing the economy, protecting the environment and improving the lives of individuals and the communities in which it operates. . The company’s strategy is aligned with national and international sustainability frameworks, including the Abu Dhabi Economic Vision 2030, the UAE Climate Neutrality 2050 initiative, the “Ghadan 21” program, and the United Nations’ Sustainable Development Goals.
For more information on the company’s ESG strategy and sustainability report, please visit: aldar.com/ar/sustainability
For more information, please contact the following numbers:
Obaid Al Yamahi +971 2 810 5555 Mahmoud Qassem Brunswick +971 2 234 4600 ALDAR@brunswickgroup.com
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About Aldar Company
Aldar is a pioneer in the field of property development and management in the UAE, as it adopts a diversified and sustainable operating model supported by two main companies, Aldar Development and Aldar Investments.
Aldar Development Company continues its leadership role in developing integrated communities that enrich the lives of residents across the most sought-after destinations in the Emirate of Abu Dhabi, including Yas Island, Saadiyat Island, Al Raha Beach and Al Reem Island . It also owns a land portfolio of 69 million square meters, comprising three business units: Al Dar Enterprises, and will be responsible for managing the fee-based project management business unit, including a portfolio that includes civic housing and major infrastructure projects; Al-Dar for Entrepreneurship, which is in charge of seizing new business opportunities and developing areas of innovation; and Aldar Misr, a platform that focuses on the promising and profitable Egyptian real estate market, as a major market for the development of integrated mixed-use communities.
Aldar Investments comprises the Asset Management Unit of the Aldar Group, which includes a portfolio of AED 30 billion of recurring income producing real estate assets in the retail, residential, commercial and hotel communities. It also manages the three main platforms: Aldar for Education, Aldar Properties and Aldar Hospitality and Leisure. The Aldar Education platform includes a portfolio of educational assets, including Aldar Academies, a leading educational group in Abu Dhabi with a portfolio of 21 schools and over 27,000 students in addition to a growing network of 3,000 teachers who belong to more than 100 nationalities, and it accepts a wide range of educational curricula and additional services such as the Teacher Training Academy.
While Aldar Properties integrates commercial and residential property operations into the portfolio of “Provis”, a property management company, it also includes community management through an integrated property management platform. Aldar Hospitality and Leisure Company is responsible for overseeing the Aldar’s portfolio of hotel and leisure assets, which are primarily located on Yas Island and Saadiyat Island, in addition to Ras Al Khaimah. This includes the house wallet
Hotel Management 13 hotels, totaling 4,250 hotel rooms, in addition to managing operations across golf courses, beach clubs and marinas.
Aldar’s shares are listed on the Abu Dhabi Securities Exchange (trading code: ALDAR: UH), and the company’s business generates stable recurring profits and income, and has a broad and diversified shareholder base. Aldar accepts the best standards of corporate governance, and is committed to managing sustainable operations over the long term, in order to continuously add value to its shareholders.
Aldar adopts an ambitious vision as it aims to be the most trusted real estate developer and manager in the region, playing a pivotal role in the development of high-quality, comfortable destinations that meet the needs of community members and the constituents and abilities have what is needed. for work, life and entertainment.