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Abu Dhabi developer Aldar reported on Tuesday that it has recycled billions of dirhams into the UAE economy and increased its Emirati and female workforce in 2021, underscoring its efforts to meet company environmental, social and governance (ESG) goals progress made.
The UAE-listed company said in its latest sustainability report that it signed project contracts worth 8.8 billion dirhams ($2.4 billion) with Emirati companies last year.
The deals were awarded through the National Domestic Value (ICV) programme, a UAE government initiative led by the Ministry of Industry and Advanced Technology, which aims to improve economic performance and support by redirecting a higher portion of public spending to the national economy local industry.
Through the ICV program, Aldar prioritizes local contractors, consultants and suppliers, including small and medium enterprises (SMEs).
Highlighting Aldar’s sustainability strategy, the report also noted that the developer managed to increase the proportion of UAE nationals in its payroll to 35% from 20% in 2020.
The percentage of women working at the company also jumped to 42%, compared to 31% in 2020.
surroundings
On the environmental front, developers have implemented a number of measures to reduce energy consumption and carbon emissions.
The group has launched what it says is the largest renovation of its kind in the country, aiming to reduce carbon emissions by 80,000 tonnes per year across the company’s 80 hotels, schools and other commercial, leisure and residential assets.
The energy plan is expected to reduce consumption by 20%, while the retrofit project is expected to save Aldar Dh40 million in annual energy costs.
The company also built its first solar hybrid power plant at one of its construction sites last year and signed a clean energy agreement with Emirates Hydro to provide clean energy for up to five years.
(Reporting by Cleofe Maceda; Editing by Seban Scaria)
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