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Leading Abu Dhabi developer Aldar Properties has unveiled its net-zero plan, committing to become a net-zero carbon business in its Scope 1, 2 and 3 greenhouse gas (GHG) emissions by 2050, in line with the Paris Agreement and UAE 2050 Net Zero Emissions Strategy Initiative.
Access to clean energy is critical to Aldar’s net zero plans, so the company intends to work with utility providers to source low-carbon energy in line with the UAE’s 2050 Net Zero Strategic Plan as the grid decarbonises.
The Abu Dhabi developer will also work with government entities to develop the necessary regulations and promote a level playing field for construction partners on decarbonization pathways.
Aldar has also set a science-based interim target for 2030, which will see it achieve net-zero emissions in its Scope 1 and 2 GHG emissions and reduce its Scope 3 GHG intensity by 45% relative to the company’s 2021 baseline %, said a statement from the company.
Aldar’s net zero plan explains how it will achieve net zero in terms of direct and embodied carbon across all its developments and projects, as well as those associated with its supply chain and tenants.
It added that by launching the programme, Aldar is leading the global transition to net zero, and highlighted its commitment to help contain the effects of climate change.
Group CEO Talal Al Dhiyebi said: “As one of the UAE’s largest real estate developers and managers, with a growing presence in the wider Middle East, Aldar is not only committed to supporting the UAE’s 2050 Net Zero Emissions Strategic Initiative , and is also committed to leading action on climate change in our industry and region.”
“Our Net Zero initiative will drive profound and rapid change across all of our business lines and across our supply chain. It will transform our approach to design, supply chain management, construction, operations and asset management,” he noted.
Al Dhiyebi said Aldar’s plans were comprehensive, ambitious and science-based – aligned with the world’s leading real estate industry benchmarks and setting new standards for the region in terms of depth and detail.
The nature of Aldar’s business as a developer and asset manager – with a diversified portfolio spanning retail, residential, commercial, hospitality, logistics and schools – means that Aldar is uniquely positioned to transform assets across their lifecycle, That’s why it has taken a holistic building approach and incorporated scope 3 tenant-controlled emissions into its commitments.
Partnership and engagement will be fundamental to the success of Aldar’s Net Zero initiative. The company will work extensively with suppliers to decarbonize material and operational emissions, while working with commercial tenants and homeowner associations to drive sustainable asset operations.-TradeArabia News Service
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