Aldar strengthens its leading position in the field of environmental, social and corporate governance by increasing its rating in three global indicators

Aldar achieved a score of 16.1 in 2022 on the Environmental, Social and Corporate Governance risk assessment scale of the “Sestinalistics” company, compared to a score of 16.6 in 2021

Aldar upgraded to “BBB” rating within the “Morgan Stanley Capital International” index during the current year, compared to “BB” rating during 2021

The company scored 60 points on the Dow Jones Sustainability Index this year, compared to 58 points in 2021

Abu Dhabi: Aldar Properties Company (“Aldar”) announced an annual improvement in its environmental, social and corporate governance (ESG) ratings across 3 major global indicators, with continued gains due to the company’s integration of ESG practices into its operating model.

Aldar’s success in advancing the ratings of the “Scientific”, “Morgan Stanley Capital International” and “Dow Jones Sustainability” indices was due to improvements in data disclosure practices, governance and risk management, as well as improved supply chain and environmental management.

The results of the house improved on the Environmental, Social and Corporate Governance risk assessment scale of the “Sestinalistics” company, as it achieved a score of 16.1 in 2022, compared to 16.6 in 2021, which ‘ indicating a low level of risks related to environmental, social and corporate management practices. The results are measured on a scale of 0 to 100, where ratings between 10 and 20 are considered “low risk”. Aldar was also ranked 11th globally among the 104 diversified property companies surveyed.

In addition, Aldar managed to rise to the “BBB” rating during the year 2022, compared to the “BB” rating in 2021, within the “Morgan Stanley Capital International” index, which measures the level of exposure of companies to environmental, sustainability monitor. and management risks and measure their success in facing these risks compared to their peers.

Aldar scored 60 points on the Dow Jones Sustainability Index this year, compared to 58 points the company scored in 2021. The company is now among the top 7% of the 237 global real estate companies invited to participate in the Dow Jones Sustainability Index survey. .

Commenting on the company’s improvement in environmental, social and corporate governance ratings, Salwa Al-Maflahi, Director of Sustainability and Corporate Social Responsibility at Aldar Properties, said: “The broad improvement in the company’s environmental, social and corporate management ratings reflect the great progress. we have made to improve the quality of our data across all sectors, and our success in improving risk and management processes. This remarkable progress is also compelling evidence of our commitment to reducing energy use, improving the quality of life in our communities, and promoting diversity and inclusion. While we have succeeded in integrating sustainability into the company’s operating model, we know that we need to do more We will continue to take the necessary measures to further improve the company’s valuation and enrich the value we provide to shareholders . .”

During 2022, Aldar took steps to reduce its carbon footprint, which included an agreement with the Emirates Water and Electricity Company. Under this agreement, the Emirates Water and Electricity Company will supply all of Aldar’s operating assets with clean energy sources over the next five years. In addition, last September Aldar invested 25 million dirhams in a package of projects to improve energy efficiency within the 13 residential complexes of the group, improving their energy efficiency and transforming them into environmentally friendly buildings. This project will contribute to the reduction of carbon dioxide equivalent emissions by 19,000 tons annually, and to achieve savings in energy consumption and utilities worth 12 million dirhams annually across 13 residential complexes, which is expected to contribute to the reduction of energy consumption across 80 assets of its portfolio by 20%.

Aldar Properties joined the Expert Advisory Group of the Science Based Goals Initiative (SBTi) in August 2022 to be the first company in the Middle East to participate in the group, in order to offer its advisory services to real estate and construction companies around the world on setting climate neutrality goals based on Science. In November this year, Aldar also joined the Clean Energy Industries Council, a non-profit organization that aims to support efforts in the transition and smooth transition to the adoption of clean energy sources at the level of the Middle East and North Africa to accelerate, by strengthening cooperation between the public and private sectors.

#corporate data

– is over –

About Aldar Company

Aldar is a leading property development and management company in the UAE, with a diversified and sustainable operating model supported by two core businesses, Aldar Development and Aldar Investments.

Aldar Development Company continues its leading 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 metres, comprising three business units: Aldar Projects, 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 Al Riyada, which seizes new business opportunities and develops 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 is the asset management unit of the Aldar Group, which includes a portfolio of 30 billion dirhams of real estate assets generating recurring income in the retail, residential, commercial, hotel and logistics assets. Aldar Logistics Assets owns a 70% interest in the Abu Dhabi Business Forum complex, which owns a complex of warehouses, offices and industrial facilities strategically located in the Industrial City of Abu Dhabi (ICAD), with a net leasable area of ​​approximately 166,000 square meters. Aldar Investments also manages the three main platforms: Aldar Education, Aldar Properties and Aldar Hospitality and Entertainment.

The “Al Dar Education” platform includes a portfolio of educational assets that include approximately 33,000 students in 28 schools operated and managed by “Al Dar Education”, in addition to a growing network of 3,000 teachers serving more than 100 nationalities belong, and it accepts a wide range of educational curricula and additional services Like a teacher training academy.

While “Aldar Properties” integrates commercial and residential property operations within the portfolio of “Provis”, which specializes in property management, and also includes community management through an integrated property management platform. The Aldar Hospitality and Leisure Company is responsible for overseeing the hotel and leisure asset portfolio of Aldar, which is primarily located on Yas Island and Saadiyat Island, in addition to Ras Al Khaimah. Aldar’s hotel portfolio includes 13 hotels, with a total of 4,250 hotel rooms, in addition to managing operations across golf courses, beach clubs and marinas.

Aldar shares are listed on the Abu Dhabi Securities Exchange (trading symbol ALDAR: UHThe company’s business achieves stable recurring profits and revenues, and it has a broad and diversified shareholder base. Aldar accepts the best standards of corporate governance, and is committed to managing sustainable operations in the long term, in order to achieve continuous added value for its shareholders.

Aldar adopts an ambitious vision as it aims to be the most trusted developer and property manager in the region, playing a pivotal role in the development of high-quality and convenient destinations that meet the needs of community members and across the necessary ingredients and capabilities available for work, living and entertainment.

Leave a Comment