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Thursday, July 25, 2024

Dubai investment doubles greenhouse gas reductions


Leading investment firm Invest in Dubai’s latest ESG report shows a 32% reduction in total greenhouse gas (GHG) emissions by 2022, equivalent to a projected reduction of 212,768 tonnes of CO2.

The achievement demonstrates the company’s commitment to developing sustainable business practices in line with the latest Global Reporting Initiative (GRI) standards, a statement said.

The emission intensity per employee is reduced from 204.9 tCO2e in 2021 to 116.8 tCO2e in 2022, a 61% reduction in overall GHG emission intensity.

Recognizing the importance of energy consumption, Dubai Investment Corporation is actively pursuing strategies aimed at curbing overall energy consumption. Between 2021 and 2022, the company has effectively reduced energy consumption from diesel, gasoline and electricity by an impressive 5%. Reliance on fossil fuels has also been significantly reduced, with diesel consumption dropping by 14.5 per cent, or 31,000 liters since 2020.

Mohammed Saeed Al Raqbani, Chairman of the Sustainability Committee of DICO and Managing Director of DI Industries and Masharie, said: “Maintaining and evaluating ESG performance is an important part of how we do business and reflects our commitment to environmental sustainability and responsible business. A deeply committed approach. Our focus on ESG is an integral part of our corporate philosophy, enabling us to create sustainable long-term value and secure financial returns.”

“In line with the UAE marking 2023 as the ‘Year of Sustainability’, we have also embarked on what I believe will be a remarkable year for the group as we are making strong commitments to prioritize investments in real estate, finance, etc. Sustainability in the sector. Raqbani added: “We will promote investment and manufacturing by applying green building principles to upcoming new real estate projects, conducting sustainable due diligence on new acquisitions and focusing on proper disposal of industrial waste. ”

Water efficiency is another component of Dubai’s investment in sustainability efforts. Compared to 2020, water consumption decreases in 2022 and water recovery and reuse increases by more than 21% and 28%, indicating a reuse and recycling rate of more than 55.3% in 2022, compared to 32.8% in 2020. A 61% increase in total training hours is another key highlight in the 2022 Sustainability Report.

In 2022, Dubai Investment Corporation has supported projects related to a wide range of community and environmental initiatives, focusing on youth development, innovation and environmental protection. Diversity and inclusion are another important component of Dubai Investment Corporation’s ESG strategy, with women accounting for 9% of its workforce and 13% of middle and senior management, almost double the level in 2021. times. – trade arab news agency


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