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As the UAE intensifies its efforts to achieve net zero emissions by 2050, a new carbon management company, Elementsix, has been established in the UAE to support companies in the country in taking a proactive approach to their environmental impact.
A carbon management plan is a key element of a company’s sustainability strategy and reporting.
The UAE Securities and Commodities Authority (SCA) has authorised UAE-listed public joint stock companies to publish sustainability reports as environmental, social and governance (ESG) reporting becomes increasingly important to investors and advisers around the world since 2021 .
“Measuring a company’s carbon footprint is an important first step in realizing its environmental impact and setting a benchmark against which to measure improvement,” said elementsix partner Dahlia Haleem.
“We want businesses to understand that by reducing emissions, they can save on operating costs and thus increase profits,” Haleem said.
With two decades of experience as a partner in the region, elementix is a consultancy providing turnkey solutions in the field of sustainability and carbon reduction.
The company develops greenhouse gas reduction projects and programs for the voluntary and compliant markets according to the most stringent certification standards in the world.
She added: “As the UAE moves towards net zero, it is our duty to do our part to understand our greenhouse gas (GHG) emissions in order to steadily move towards becoming a net zero economy by 2050.”
According to Haleem, Greenhouse Gas (GHG) accounting or inventory is the process by which an organization can quantify its carbon emissions at the company level (carbon emitted by the company’s general operations) or at the product level (emissions). product).
Emissions are measured in tonnes of carbon dioxide equivalent (tCO2e), using emission factors to calculate the total carbon footprint.
Some organizations end the process here as a benchmark against which to measure improvements over the next few years. But for many, this is the starting point for a carbon neutrality roadmap or strategy. Amer Arafat, partner at elementsix, said carbon or GHG accounting is the first necessary step in any carbon management plan (CMP).
“While private companies are not obligated to do so, it is critical to note that when sustainability becomes part of a company’s culture, it becomes a point of differentiation and a core value and has a significant impact on how stakeholders perceive them,” he added.-TradeArabia News Service
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