close

Majid Al Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, today opened the Middle East’s first net-positive mosque under the name of its late founder, Mr. Majid Al Futtaim.

The mosque, located in the Group’s flagship Dubai community, Tilal Al Ghaf, integrates sustainable and modern design practices in support of the UAE’s Green Agenda 2030, ensuring energy efficiency, resource optimisation, and minimal environmental impact.

His Excellency Ahmed Darwish Al Muhairi, General Manager, Islamic Affairs & Charitable Activities Department, said: "The opening of the first net-zero emissions mosque in the Middle East is an achievement that reflects our deep commitment to the principles of sustainability, this project represents a significant shift in the field of environmental sustainability and highlights our fruitful collaboration with Majid Al Futtaim in implementing this initiative. It serves as a live example of a successful partnership between the public and private sectors, setting a new standard for responsible innovation in building and maintenance, it also aligns with the noble Islamic values that advocate for environmental preservation and protection."

H.E added: "This project perfectly aligns with the United Arab Emirates' Vision 2030, which focuses on achieving a balance between economic development and environmental conservation. We reaffirm our commitment to supporting this ambitious green agenda, and we hope that this project will inspire more initiatives across the region and the world. It encourages all sectors to adopt innovative solutions that contribute to building a sustainable environment, ensuring safety and prosperity for future generations."

Ahmed Galal Ismail, Chief Executive Officer, Majid Al Futtaim Holding, said: “It is a great honour to inaugurate the Majid Al Futtaim Mosque, a symbol of our late Founder’s enduring legacy and a tribute to his commitment to serve the communities in which we operate. As the first net-positive mosque in the region, this space has been thoughtfully designed as a cornerstone of the community, blending sustainable design principles with Islamic values.

We would like to thank the Islamic Affairs and Charitable Activities Department for their full support of this project, helping us to maximise our positive social and environmental impact.”

As a result of a series of key sustainable features, the Majid Al Futtaim Mosque is set to become the first bespoke project to achieve BREEAM certification. This assessment recognises measures of performance, which are set against established benchmarks, evaluating the building’s specification, design, construction, and use. 

The mosque’s construction incorporates advanced mechanical, electrical, and plumbing (MEP) systems, renewable energy sources, and sustainable building practices designed to achieve a net-positive status. Key features include a robust renewable energy system with  203 solar photovoltaic panels, providing a total installed solar capacity of 116.73 kWp and generating over 204,121 kWh annually, providing more than 115% of the mosque’s energy demand. The excess green energy  is supplied back to the grid to be used across the communnity. Additional energy-efficient systems include  a solar-powered hot water system, LED lighting, an efficient HVAC setup, EV charging stations and a Building Management System (BMS) to optimise energy consumption. Water efficiency, air quality, and non-toxic materials have been employed to ensure a healthy environment, with responsibly sourced, low-carbon materials prioritised to  reduce its overall carbon footprint.

The first of its kind structure reinforces Majid Al Futtaim’s commitment to building a cleaner tomorrow as the Group’s aim to achieve net positive in carbon and water for all its operating companies by 2040.

For more information on the region’s first net positive mosque, visit majidalfuttaim.com.

Media Contact:
Katharina Mayr, Senior Manager Corporate Communications & PR
katharina.mayr@maf.ae

About Tilal Al Ghaf 

Tilal Al Ghaf is Majid Al Futtaim’s flagship mixed-use community in Dubai, providing a contemporary and luxurious resort-like living experience. Nestled in the heart of new Dubai, with a stunning lagoon and white sandy beaches at its heart, Tilal Al Ghaf balances luxury resort-style living with a fresh urban feeling. With its exceptional amenities, unique architectural design and unparalleled attention to detail, every home in Tilal Al Ghaf is created with the customer in mind.

Staying true to Majid Al Futtaim’s commitment to sustainable design and living, the community features walkable neighbourhoods connected by a meticulously crafted network of pathways, cycling tracks and jogging trails. A world of culinary experiences, signature Majid Al Futtaim retail selection and a world-renowned school are never more than a short stroll away.

www.tilalalghaf.com  

Please follow us on
https://www.twitter.com/tilalalghaf            
https://www.fb.com/tilalalghaf
https://www.instagram.com/tilalalghaf

Signifying a huge leap forward in fulfilling ambitions to achieve zero-waste to landfill in the emirate of Sharjah, BEEAH, the Middle East's sustainability pioneer, Masdar, the UAE’s clean energy powerhouse, and Veolia Near & Middle East, leader in low carbon energy production, recently celebrated the historic milestone of successfully processing 500,000 tonnes of waste at the Sharjah Waste to Energy facility since it began operations in 2023.

Leadership from BEEAH, Masdar, and Veolia, as well as officials from Sharjah Electricity and Water Authority (SEWA) and Sharjah Municipality, came together to mark the occasion at the BEEAH Headquarters and visit the Sharjah Waste to Energy plant to witness operations following the 500,000 tonnes milestone.

As a result of the 500,000 tonnes milestone, the Sharjah Waste to Energy Facility has also successfully abated 750,000 tonnes of CO2 emissions, recovered 2,000 tonnes of metal since it began operations and exported 300,000,000 kWh of electricity to the public grid through a power purchase agreement with SEWA, aligning with clean energy targets within the emirate. The Sharjah Waste to Energy facility has also worked more than 300,000 hours without a lost time incident, reflecting high standards of safety on site. 

The milestone marks a new era for the operation and maintenance joint venture partnership between BEEAH, Masdar, and Veolia, as they drive towards a zero-waste future in Sharjah and a lower carbon, clean energy future in the UAE, the region and beyond.

Khaled Al Huraimel, Group CEO and Vice Chairman of BEEAH, said: “This milestone for the Sharjah Waste to Energy plant is more than just a number. It is a big step towards achieving total landfill diversion in Sharjah, growing further from the current rate of 90%. It is a demonstration of an environmentally and commercially sustainable model for waste-to-energy innovation, increasing landfill diversion by processing hard to recycle waste, producing low carbon power and displacing a significant amount of emissions. Together with Masdar, and our operation and maintenance joint venture partner Veolia, we have created a hugely successful model that can be adapted to meet the waste management and clean energy needs of cities across the UAE, the region and the beyond.”

Commenting on the occasion Mohamed Jameel Al Ramahi, CEO of Masdar said: “We're proud to witness the Sharjah Waste to Energy plant reach this significant milestone in such a short space of time thanks to the support of all of the partners and stakeholders in this innovative project. This achievement underscores our commitment to driving sustainable solutions and contributing to the UAE's ambitious clean energy goals. By converting waste into valuable energy, we're not only reducing our reliance on traditional fuels but also creating a more circular economy for the benefit of both our communities and the environment."

Commenting on the milestone, Philippe Bourdeaux, Executive Vice President Africa & Middle East, said: “We are immensely proud of achieving this major milestone at Veolia, working with our partners BEEAH and Masdar to deliver a sustainable future for the region and the world. At Veolia we have always taken a holistic approach to waste management that not only maximizes resource recovery but also contributes to recycling and a circular economy – based on our global experience of operation and maintenance  that are setting new benchmarks in the sector. This important milestone also perfectly aligns with Veolia’s ‘GreenUp’ strategic program, launched earlier this year with specific ecological objectives aimed at making Veolia the champion of decarbonization, depollution, and the regeneration of natural resources. I am confident this marks the beginning of a new phase of green transformation across the UAE while adding momentum to the country’s journey toward a net-zero future. Veolia remains committed to further supporting the UAE’s push for green energy.”

The waste-to-energy plant, conceptualized and realized by the Emirates Waste to Energy joint venture between BEEAH and Masdar, is the region's first of its kind at a commercial-scale. This state-of-the-art facility can produce 30 megawatts (MW) of low carbon energy, enough to power up to 28,000 homes and offset up to 450,000 tonnes of CO2 emissions per year. It is instrumental in Sharjah’s ambition to achieve zero waste to landfill and is helping advance the UAE’s journey toward sustainability. The Emirates Waste to Energy joint venture was first established in 2017 between Masdar and BEEAH, and to further elevate standards for waste management and energy production in the region, an operation and maintenance joint venture was then formed with Veolia in 2022. The Sharjah Waste to Energy facility represents a perfect global case study in sustainable collaboration between Veolia, Masdar, and BEEAH, and how achieving milestones can further enhance outcomes and unlock new partnerships.

This Sharjah Waste to Energy plant is equipped with cutting-edge technology ensure both high efficiency and minimal environmental impact. It includes a CNIM boiler with a unique four-pass system and a Martin grate with a 5-run design which ensures optimal combustion control. The LAB flue gas treatment system further minimizes emissions, supporting the facility’s role to reduce environmental impact.

The milestone at the Sharjah Waste to Energy facility aligns with the UAE Energy Strategy 2050, which aims to support the country in fulfilling its clean energy targets and reduce the carbon footprint associated with power generation, and with the UAE Environment Policy, which is driving the transformation of waste-related challenges into development opportunities.

Dubai International's (DXB) work to cut carbon emissions has been recognised with a Level 4 "Transformation" accreditation from Airports Council International (ACI) Airport Carbon Accreditation (ACA) programme, placing it, as of September 2024, among the top 5% of participating airports worldwide to achieve this status.

The "Transformation" certification is awarded to airports that realise absolute emissions reductions and drive systemic change with its stakeholders.

In strategic alignment with the UAE, Dubai Airports is playing a vital role in supporting the country's Net Zero 2050 strategy— through its commitment to minimising its environmental impact and enhancing operational efficiency, with a comprehensive focus on decarbonisation, resource conservation, and adopting cutting-edge technologies.

Paul Griffiths, CEO of Dubai Airports, commented, "Achieving Level 4 'Transformation' accreditation underscores our firm commitment to embedding sustainability at the core of everything we do at Dubai Airports. This recognition not only highlights our progress in reducing our own carbon footprint but also reflects the strength of our partnerships in driving broader, systemic change across the aviation ecosystem."

"For us, sustainability is not a checkbox – it's a long-term strategy that involves collaboration, innovation, and constant improvement. The responsibility we own goes beyond our operation; it's about leading by example and embracing a culture where every stakeholder plays a part in creating a more sustainable future. Together, we are setting a new standard for what is possible in airport operations, as we continue to support Dubai's and the UAE's leadership in the global effort towards Net Zero by 2050," he added.

Stefano Baronci, Director-General of ACI Asia-Pacific & Middle East, said, "We congratulate Dubai Airports for its significant strides in reducing carbon emissions, setting a benchmark for airports across the region. By positioning itself as one of the leaders in efficient carbon management, Dubai Airports demonstrates a strong commitment to building a more sustainable future. Dubai Airports' approach aligns with our industry's collective vision of achieving net zero emissions by 2050."

DXB has made significant progress through key initiatives and partnerships aimed at advancing sustainable aviation. A recent example is the collaboration with dnata and Emirates National Oil Company (ENOC), transitioning dnata's non-electric airside fleet to a biodiesel blend, reducing carbon emissions by over 3,500 tonnes annually.

Other initiatives include a partnership with Etihad Energy Services to enhance energy efficiency through building and lighting retrofit and solar integration, and a collaboration with BEEAH Group, reducing landfill waste by 60% through an innovative food waste treatment plan.

DXB's adoption of the 'Follow the Greens' system has also optimised aircraft taxiing, cutting fuel consumption and emissions. Other successful initiatives include active engagement with 'Airports of Tomorrow', a collaborative venture by the World Economic Forum (WEF) and ACI, to steer the aviation industry toward net-zero carbon emissions by 2050.

The recently launched oneDXB Sustainability Alliance, a network of airport partners, is further driving sustainability by exploring over 180 additional potential decarbonisation projects.

The Level 4 ACI Accreditation affirms Dubai Airports' leadership in sustainability and positions DXB as a benchmark in the global airport community.

Source: WAM

The aluminium sector, which is critical to several low-carbon industries, is a major asset that helps the UAE achieve a low-carbon future, said Dr Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment.

“As a key enabler to reducing emissions in numerous sectors, we know that demand for aluminium will rise. We must find ways to meet this demand, whilst reducing the environmental impact of aluminium production,” she said in her keynote address at fifteenth session of the National Dialogue on Climate Ambition (NDCA) at Emirates Global Aluminium headquarters in Al Taweelah.

The fifteenth assembly focused on the innovative solutions that progress the decarbonisation of the aluminium sector to meet the growing global demand for this sustainable metal as the UAE is the fifth-largest aluminium producing nation in the world.

The NDCA, launched in May 2022, is a platform to define and raise sectoral climate ambition and advance all-inclusive participation in the UAE Net Zero by 2050 Strategic Initiative.

Engaging a specific sector

The NDCA’s monthly stakeholder assemblies are dedicated to engaging a specific sector, with the aim of exploring sectoral requirements, priorities, and future direction to amplify contributions to reducing greenhouse gas emissions.

The session engaged stakeholders from across the aluminium value chain, including the Aluminium Stewardship Initiative, leading can-makers and waste management companies, to discuss the role of aluminium in boosting the UAE’s circular economy.

Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: “We are honoured to host the 15th National Dialogue for Climate Ambition session at EGA’s headquarters in Al Taweelah. At EGA, we recognise that producing metal essential for the development of a more sustainable society is not enough. It also matters how sustainably aluminium is produced. Many of the decarbonisation challenges we face are shared with other industries, and we must work together to address these challenges."

Climate-Responsible Companies Pledge

During the session, two companies signed the UAE’s Climate-Responsible Companies Pledge: Tadweer Group, and Yellow Door Energy. This takes the total number of signatories to 140. The pledge was launched in 2022 to help the UAE government engage with entities keen to make an active contribution to the nation’s climate neutrality movement and align their efforts to achieve the UAE’s common objective.

By signing the pledge, companies commit to measuring and reporting their greenhouse gas (GHG) emissions in a transparent manner, developing ambitious science-based plans to reduce their carbon footprint, and sharing these plans with the UAE government to contribute to achieving the national net-zero target by 2050.

They must also factor in climate change mitigation and adaptation as core values and principles of their businesses and operational models, and adopt an all-inclusive approach that engages society in developing their net-zero plans.

Recycling

The event included a panel session focused on increasing aluminium beverage can recycling rates in the UAE and closed with three roundtables discussing the development of the aluminium scrap industry in the UAE, opportunities to reduce the aluminium sector's greenhouse gas emissions through circularity, and the use of aluminium to reduce emissions in different sectors.

During the visit to EGA, Dr Al Dahak inaugurated the region’s first 100 per cent renewable energy powered industrial data centre in Al Taweelah.

EGA developed two data centres in Jebel Ali and Al Taweelah to further deploy artificial intelligence and automation solutions at the heart of the company’s industrial operations, while reducing EGA’s total IT energy consumption by 50%.-

Source: Staff Writer, TradeArabia

Corporate signatories of the ‘Road2.0 powered by UACA’ initiative have published a declaration of their intent to adopt and promote zero emission vehicles (vehicles operating without producing tailpipe emissions), in a first-of-its-kind showcase of the robust corporate demand for EVs in the UAE.

The declaration serves as a call to action for the EV Ecosystem, inviting stakeholders to join forces in order to mobilise the swift uptake of EVs across commercial fleets.

Road2.0 is powered by UACA – the UAE Alliance for Climate Action, which is convened by environmental charity and NGO Emirates Nature-WWF. It is the leading initiative focusing on decarbonising commercial transport in the UAE, endorsed by the Ministry of Energy and Infrastructure (MoEI). In addition, UACA is endorsed by the Ministry of Climate Change and Environment (MOCCAE).

Supported by talabat and Unilever, Road2.0 is currently led by 17 signatories that are pioneering efforts to test and scale commercial EVs within their fleet, aiming to potentially achieve 30 percent decarbonisation of signatories’ UAE road transport fleet by 2030, and 100 percent by 2040.

The collaborative endeavour demonstrates strong corporate leadership in support of the UAE’s Net Zero by 2050 Strategic Initiative and the UAE’s Demand Side Management Programme (Green Mobility Strategy).

Road2.0 signatories represent diverse economic sectors in the UAE spanning logistics, retail, food and beverage, groceries, fast moving consumer goods and sustainability, amongst others.

The declaration commends the significant momentum and progress towards green mobility that has already taken place in the UAE and outlines additional shifts required to address specific operational needs and commercial EV targets.

By the end of this year, Road2.0 signatories will have put 90 Commercial EVs on UAE roads. Collectively, Road2.0 signatories aim to procure up to 6,000 Zero Emission Vehicles (ZEVs) by 2030, potentially scaling to 20,000 ZEVs by 2040. They seek a variety of vehicles ranging from refrigerated and ambient vehicles, two-wheelers, light-medium duty trucks, passenger buses and vehicles to meet demand.

The full list of Road2.0 signatories currently includes: Advanced Media Trading, Aramex, Arla, Chalhoub Group, Ehfaaz, Enviroserve, Farnek, Kibsons, Landmark Group, Majid Al Futtaim, Nestlé, Positive Zero, RNZ Group, Schneider Electric, talabat, Unilever and Yes Full Circle Solutions.

Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at MoEI, said, “Electric vehicles are ready for scalable implementation in the UAE. The domestic EV market is expanding rapidly, powered by huge strides in infrastructure across the country and more entities making the switch towards lower carbon transportation solutions. Road2.0 powered by UACA is in line with our steadfast belief that when government and business are synchronised, we form a powerful force for driving economic growth, fostering innovation, and addressing societal and environmental challenges. The move is in line with the Ministry’s mission of supporting the shift to green mobility and contributing to the country’s goal of increasing the share of EVs to 50 percent of total vehicles on the UAE’s roads by 2050.”

Mohammad Saeed Al Nuaimi, Under-Secretary of the Ministry of Climate Change and Environment, said, “Road2.0 marks a significant step in our journey towards a cleaner and greener future. Underscoring the power of collaboration, it highlights the importance of public-private partnership in driving action towards a low-carbon economy. It is heartening to see such a widespread support for this initiative which reflects our shared commitment to environmental sustainability. I welcome all our corporate partners for joining this initiative and contributing to the UAE’s climate efforts.

“This initiative marks another step in our drive towards economy-wide emission reduction in line with the nation’s Net Zero 2050 Strategy. The Third Update of the Second NDC for the UAE, released last year, reinforced our commitment to reducing emissions by setting clear plans for all domestic sectors, including the transport sector, to lower net GHG emissions. Decarbonising the transport sector led by EVs will contribute to these goals as a large-scale adoption of EVs is set to be a gamechanger in our emission reduction efforts.”

Laila Mostafa Abdullatif, Director-General of Emirates Nature-WWF, commented, “We have a unique opportunity not only to chart the future of green transport in the UAE, but also to accelerate a market-wide transition to zero emission vehicles. Road2.0 signatories are committed to potentially achieving 30 percent decarbonisation of commercial road transport fleets by 2030, and 100 percent by 2040. This commitment has already been demonstrated as Road2.0 signatories will have deployed 90 commercial ZEVs on UAE roads by end of 2024. We invite more corporates to take this pledge and look forward to working closely with partners across the EV ecosystem, including Original Equipment Manufacturers, Distributors, Leasing Companies and Third-Party Logistics Providers to advance the implementation of commercial EVs at scale.”

Ahmed Kadous, Head of Supply Chain Personal Care Middle East & Turkey and Head of Customer Operations Arabia, Unilever, which is leading the Road2.0 Working Group on EV Ecosystem Engagement and has led the development of the Declaration, stated, “Unilever is committed to achieving net zero emissions across its value chain by 2039, with a 40 percent reduction in our logistics carbon emissions by 2030 against our 2020 baseline. In 2023, we made a major stride towards our ambitions by becoming the first company in the UAE to add an electric van and a 40T electric truck to our logistics fleet. We are eager to expedite our implementation of EVs on a larger scale and recognise the importance of joining forces with the larger ecosystem – through Road2.0 powered by UACA – to drive the transformation of the logistics environment.”

Source: WAM

Emirates Water and Electricity Company (EWEC) today announced that it has forged a strategic partnership with ADNEC Group to power ADNEC Centre Abu Dhabi entirely with renewable and clean energy, making it the first and largest event venue in the Middle East to utilise clean energy.

The landmark partnership sets a benchmark for the decarbonisation of the Meetings, Incentives, Conferences & Exhibitions (MICE) sector across the UAE.

The agreement was signed at the ADNEC Centre Abu Dhabi by Othman Al Ali, Chief Executive Officer of EWEC, and Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC Group. The signing was witnessed by key representatives from both organisations.

As a leading events space in the Middle East, ADNEC Centre Abu Dhabi hosts year-round international exhibitions and events, welcoming exhibitors, visitors and business professionals from around the world.

Through this new strategic partnership, ADNEC Centre Abu Dhabi will have 100 percent of its grid power supplied by EWEC’s renewable and clean energy sources, verified through the provision of Clean Energy Certificates (CECs) issued by the Abu Dhabi Department of Energy (DoE).

This strategic partnership will significantly reduce the carbon emissions of major exhibitions and events hosted by ADNEC Centre Abu Dhabi and will position ADNEC Group as a global leader in sustainable event management.

Othman Al Ali, Chief Executive Officer of EWEC, said, “We are delighted to partner with ADNEC Group to decarbonise ADNEC Centre Abu Dhabi’s grid power consumption. EWEC is driving the increase in renewable and clean energy adoption in the UAE, making it easier and quicker for organisations to reduce their Scope 2 emissions and decarbonise their operations. By strategically increasing renewable and clean energy capacity and simultaneously empowering Abu Dhabi organisations to decarbonise, EWEC is accelerating the delivery of the UAE’s clean energy transition. This strategic partnership with ADNEC Group provides a benchmark for decarbonising major international events hosted in Abu Dhabi in line with the UAE’s net zero targets and reflects EWEC’s continued advancement of pioneering sustainable initiatives.”

Humaid Matar Al Dhaheri, Managing Director and Group Chief Executive Officer of ADNEC Group, stated, “ADNEC Group’s partnership with EWEC emphasises our strategic focus on sustainability through the adoption and use of renewable and clean energy, aligning with the UAE’s objectives and national targets for sustainable development. By decarbonising ADNEC Centre Abu Dhabi’s grid power consumption, we are setting a new decarbonisation benchmark within the UAE’s business tourism industry and reaffirming Abu Dhabi’s position as the capital of sustainable events and exhibitions sector in the region.”

Source: Staff Writer, WAM (Emirates News Agency)

The financial sector faces a critical challenge in managing financed emissions—the carbon footprint linked to their lending, investment, and insurance portfolios. With banks holding an estimated $4.6 trillion in carbon-intensive assets, potential losses could reach $20 trillion if the Net Zero transition is mismanaged. However, financial institutions often struggle with inaccurate data, inconsistent reporting standards, complex engagement dynamics with investees, and time-consuming processes, making the journey toward decarbonization daunting. 

Recognizing these challenges, Olive Gaea developed Zero—an AI-driven SaaS platform specifically designed to address the unique needs of the BFSI sector. Drawing on extensive experience with financial institutions, Zero is built to solve critical issues in financed emissions management by integrating accurate data, engaging strategically with investees, enhancing efficiency, and providing real-time actionable insights for decarbonization. 

 The Challenges of Financed Emissions 

Financed emissions usually represent 90%+ of a financial institution’s carbon footprint but are notoriously difficult to measure and manage. Key challenges include: 

  1. Data Inaccuracy and Investee Engagement: Over 60% of emissions data used by financial institutions is estimated rather than directly reported, often due to limited engagement with investees. Many investees lack the infrastructure or incentive to report detailed emissions data, leading to inaccuracies that undermine effective carbon exposure management. 
  1. Inconsistent Standards and Compliance Risks: Only 25% of top global banks align with PCAF standards, resulting in inconsistent disclosures and increased compliance challenges. Financial institutions face growing pressure to improve data quality and transparency to meet evolving regulatory demands. 
  1. Resource-Intensive and Time-Consuming Processes: Traditional methods of gathering and analyzing emissions data can take 6-9 months, delaying decision-making and preventing timely action on climate risks. This inefficiency strains resources and hampers strategic planning. 

Zero: The Solution to Financed Emissions Management 

Zero is more than an ESG reporting tool; it is a comprehensive platform that integrates carbon and ESG management into a seamless solution. By automating the decarbonization journey, Zero provides financial institutions with real-time insights and tools needed to measure, manage, reduce, and report emissions accurately and efficiently. 

Key Features of Zero’s Financed Emissions Module: 

  1. Active Investee Engagement and Data Accuracy: Zero’s engagement module facilitates direct communication and data collection from investees, enhancing data accuracy and collaboration on decarbonization efforts. When primary data is unavailable, Zero accesses global databases, integrating asset-level emissions, ESG metrics, financial data, and Life Cycle Assessment (LCA) information. This approach ensures the highest level of data accuracy, drastically improving PCAF data quality scores and enabling precise management of carbon exposures. 
  1. AI-Driven Analysis and Optimization: Zero offers a suite of analytical tools that empower financial institutions to manage and optimize financed emissions with efficiency and precision. The platform measures and analyzes emissions in line with PCAF standards, offering insights into emissions per asset class, industry, and sector. Key metrics such as Weighted Average Carbon Intensity (WACI) and Portfolio Carbon Intensity (CI) provide a clear view of carbon exposure. Zero’s sectoral analytics and portfolio optimization features help banks identify decarbonization pathways, set Net Zero targets aligned with IEA NZE 2050, SBTi, and other frameworks, and engage investees proactively.  
  1. Decarbonization Levers with Cost Insights: Zero includes over 500 sector-specific decarbonization levers, each accompanied by Marginal Abatement Cost (MAC) data. This feature allows banks to understand the financial implications of each decarbonization strategy, enabling more informed decision-making and better financial planning for transition financing. 
  1. Portfolio Rebalancing and Strategic Decision-Making: Zero’s rebalancing tools guide financial institutions in aligning portfolios with Net Zero targets. AI-driven recommendations provide clear, actionable pathways for transitioning away from high-carbon assets, optimizing portfolio performance, and enhancing ESG compliance. 
  1. Efficiency and Real-Time Actionable Insights: Unlike traditional methods that are time-consuming and resource-intensive, Zero’s automation and real-time analytics significantly reduce the time required to collect, analyze, and report emissions data. By streamlining the entire process, Zero frees up valuable resources, allowing institutions to act swiftly and confidently on climate risks. 
  1. Comprehensive ESG and Carbon Management: Beyond carbon, Zero integrates full-spectrum ESG tracking and reporting, offering audit-proof, compliance-ready solutions. This approach helps financial institutions stay ahead of regulatory demands, reduce compliance risks, and improve overall sustainability performance. 

Our extensive experience with BFSI clients has given us deep insights into their challenges, particularly around investee engagement and managing data accuracy. Zero’s engagement module was designed not just to collect data but to foster collaboration on transition financing. By integrating asset-level and sector-specific data, Zero helps financial institutions make informed decisions based on the most accurate information available, with unparalleled efficiency. 

“The financial sector is at a pivotal moment in the fight against climate change. With regulatory pressures intensifying and stakeholder expectations rising, financial institutions need advanced, reliable solutions to manage their financed emissions effectively,” says Vivek, Co-Founder & CEO of Olive Gaea. “Zero is designed to provide financial institutions with more than just data—it delivers actionable insights that drive strategic decision-making.” 

As financial institutions navigate the complexities of the Net Zero transition, platforms like Zero are essential, offering the clarity, precision, efficiency, and strategic guidance needed to make impactful decisions. By integrating accurate data, advanced analytics, and active engagement capabilities, Zero stands out as the ultimate tool for managing financed emissions and driving the BFSI sector’s climate action agenda forward. 

The Ministry of Economy has today announced that three companies specialised in clean energy technology from China and the United States have joined the NextGenFDI programme, underlining the status of the UAE as a platform for pioneering enterprises and ideas.

The companies, which specialise in innovative storage and generation solutions, will contribute to advancing the UAE’s clean-energy goals and support its transition to a more sustainable, low-carbon economy.

The three companies are: Enerflow, a specialist in vanadium flow battery technology, which is promising to lengthen the lifecycles of rechargeable batteries – from four to ten hours – used in clean-energy storage;HyGreen Energy, which is developing water electrolysis hydrogen equipment for a variety of industries, including steel and petrochemical; and Enpower Greentech, which is helping to revolutionise the battery industry with its solid-state batteries (ASSBs), which have been developed in collaboration leading automotive OEMs and eVTOL companies globally.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, welcomed the addition of the three companies, and underscored the role the NextGenFDI programme is playing in driving innovation in critical industries such as clean energy in the UAE.

He said, “The three new members to the NextGen FDI programme have each developed pioneering solutions that align with the UAE’s vision for a sustainable, low-carbon future. Their involvement in NextGenFDI underscores our commitment to support strategic investment into high-impact technologies and clean-energy solutions in particular. This will not only support the expansion and growth of these enterprises, it will enhance the clean-tech sector in the UAE as a whole and confirm our status as a global leader sustainability and innovation.”

Since its launch in 2022, the NextGenFDI initiative has sought to attract innovation-led companies from around the world by offering a range of market-entry benefits, including fast-track set-up and licensing, visa issuance and access to financial services.

Companies also gain the benefit of the growing NextGenFDI network, through which they can share knowledge and support expansion into local and regional markets.

Senior representatives of the three companies expressed their enthusiasm for joining the NextGenFDI initiative. Bo Wang, Chairman of Enerflow, stated, “The United Arab Emirates stands as the perfect gateway for expanding into key markets across the Middle East and Europe, offering an unparalleled ecosystem and world-class connectivity. Aligned with our vision for cleaner, more efficient energy solutions, the UAE’s NextGen FDI programme presents a unique opportunity for collaboration across multiple industries. As a leader in the vanadium flow battery energy storage industry, we are eager to contribute our expertise to this dynamic region."

“We are particularly enthusiastic about investing in the UAE, including establishing manufacturing facilities that will leverage the nation’s advanced photovoltaic infrastructure and robust chemical, petroleum, and energy production capabilities. Joining the NextGen FDI programme reflects our commitment to fostering sustainable innovation, hand in hand with the UAE’s progressive energy landscape,” Wang added.

Weiwei Zhang, Secretary of the Board of Directors of HyGreen Energy, confirmed the value of the NextGenFDI initiative. “We are thrilled to join the UAE’s NextGen FDI initiative and to be able to bring our green hydrogen expertise to this forward-thinking nation, one whose commitment to clean energy aligns perfectly with our range of cutting-edge solutions. The support provided by the programme will enable us to establish and scale our presence in the UAE, where we aim to contribute to the nation’s energy transition towards a more sustainable, green hydrogen-based future,” she said.

HyGreen Energy has installed more than 500 sets of its systems across 24 countries and regions globally, and is the only company possessing three distinct water electrolysis technology pathways: ALK, PEM and AEM in China.

Yani Kong, Shareholder & SVP of Enpower Greentech, said, “We are delighted to join the UAE’s NextGenFDI initiative and introduce our transformative technology to the UAE and the wider region. The pursuit for clean, renewable, and storable energy is a collective challenge, but one that drives innovation across countries and stakeholders. We are excited to continue this journey in partnership with the UAE, a nation committed to climate-tech and low-carbon solutions.”

Launched by the UAE Ministry of Economy, NextGenFDI is aimed at attracting global high-tech companies to the UAE to foster innovation, support the growth of SMEs, and drive the development of sustainable industries. With a focus on sectors such as ICT, healthcare, and advanced manufacturing, the initiative is playing a pivotal role in the UAE’s economic diversification strategy.

Source: Staff Writer, WAM (Emirates News Agency)

UAE residents have very high expectations for businesses to act responsibly on Environmental, Social and Governance issues, a landmark survey has revealed. Of those asked, 90% of UAE participants have given an importance rating of 7 or more out of 10 for large businesses, and a similar rating (88%) for small to medium businesses. Globally, expectations are lower with only 81% saying the same for large businesses and 75% for small to medium businesses, showing that corporations in the UAE are held to a much higher standard by the population.

More than 14,300 people across 14 countries and territories were surveyed* as part of the fourth annual ESG Monitor report from SEC Newgate, the global strategic communications, advocacy and research group, with regional offices in Dubai and Riyadh.

Just over four in five (82%) in the UAE said that companies should play a more active role in society – but getting the balance right is critical. 

However, optimism is high in the UAE, and there is a strong belief (83%) that performing well on ESG responsibilities doesn’t have to come at the expense of profitability, while people overwhelmingly believe (67%) that companies should act in the best interests of all stakeholders rather than prioritising shareholders ahead of other stakeholders.

People care a lot about broader social and environmental issues, and significantly, 97% asked said the UAE is on the right track (putting the UAE in first place and much higher than the global average of 47%)

Some of the additional key findings from the UAE included:

Speaking on the findings, Elena Gramatica, Founder and CEO, SEC Newgate Middle East, said, “Our annual ESG Monitor has shown that people have high expectations of organisations to behave responsibly on ESG matters, particularly in the UAE.

“Despite other pressing concerns of the public in their day to day lives, most still see environmental, social and governance issues as important to address – even if they don’t view these through a formal ‘ESG’ lens. This is both a communication and operational challenge for businesses and governments so there is still more work to be done when it comes to ESG.

“However, there is great optimism in the UAE with people having a comprehensive understanding of ESG and the positive role that the government is playing and supporting corporations to be more accountable.”

Speaking on the findings, Fiorenzo Tagliabue, Group CEO of SEC Newgate, said, “Our global ESG Monitor has found that corporate communication shortcomings are clear to see, with a large majority believing companies need to more clearly communicate what they are doing to improve their performance on ESG issues and address stakeholder needs.

"Compliance with ESG reporting standards is just a starting point, it ensures business meets its regulatory requirements, but it does not signify excellence or an ambitious plan to drive impact through corporate operations.

“Clearly, a considered approach is needed to overcome scepticism, with many not trusting what companies claim about ESG and given that many believe companies focused on ESG initiatives are too politically focused.

“Business is under intense scrutiny on ESG issues, but failing to act ambitiously and failing to be transparent about your plans and achievements on ESG issues poses a significant reputational risk."

For further information and to download the SEC Newgate ESG Monitor 2024 reports please click here.

How the research was conducted* 

SEC Newgate surveyed more than 14,300 people online across 14 countries and territories between the 4th and 29th of July. Participants were sourced from market research panels, with the survey translated and completed in-language where appropriate. 

Quotas were set by age, gender and location to ensure a nationally representative sample of citizens aged 18+, and the final results were weighted by the actual age and gender proportions within each country or territory. For the ‘total’ results, each country is given equal weighting.

The countries and territories include: Australia, Brazil (a new region for the survey), Colombia, France, Germany, Greece (a new region for the survey), Hong Kong SAR, Italy, Poland, Singapore, Spain, the UAE, the UK and the USA. 

About SEC Newgate

Further information is available at the Group's website:  www.secnewgate.com

For more information, please contact:
SEC Newgate Middle East
Daniela Gorini |Daniela.Gorini@secnewgate.ae
Ihab Youssef | ihab.youssef@secnewgate.ae

Emirates Green Building Council (EGBC) has launched their Sustainability Lounge, a co-working space for members dedicated to advancing sustainable building practices. The lounge was inaugurated by Cristina Gamboa, CEO of the World Green Building Council, and Khaled Bushnaq, Chairman of EmiratesGBC, who showcased their innovative approaches to sustainability.

This dynamic co-working hub, located within the EmiratesGBC office, has been designed to promote collaboration, education, and innovation among professionals dedicated to advancing sustainable building practices. The Lounge will serve as a central meeting point for EmiratesGBC members to network and drive forward sustainable solutions within the built environment. It will be a central space for exchanging ideas and fostering excellence in sustainability within the built environment.

Khaled Bushnaq, Chairman of EmiratesGBC, said; “Emirates Green Building Council’s commitment to driving change to ensure a greener, more resilient built environment for the future of the planet and its people finds a new avenue through the Sustainability Lounge. Thoughtfully designed for optimum performance, the fully sustainable site aims to be a landmark networking space to further Emirates Green Building Council’s green agenda. We invite all innovative creatives to collaborate to push the boundaries on sustainability for the greater good of our community.”

Cristina Gamboa, CEO of the World Green Building Council, said; “As the largest leading global action network catalyzing sustainability in the built environment, the World Green Building Council is proud to be at the opening of the Sustainability Lounge within EmiratesGBC. We have for long been championing the cause of sustainable buildings as a climate solution and EmiratesGBC’s latest venture is further proof that a collaborative approach is best to accelerate climate action and boost energy efficiency in the built environment.”

A collaborative co-working space for innovation and excellence, the Sustainability Lounge includes a Wall of Fame, and a Nourishment Space. Members can display their sustainability products and their work on the Wall of Fame, which serves as a platform for sharing innovations and promoting sustainability practices within the community. 

Made with responsibly sourced sustainable materials, the Lounge offers a comfortable and functional space dedicated to fostering collaboration and driving innovation in sustainable building practices. Among the sustainable features of the Lounge are ultra-low VOC decorative paint with anti-mold properties; ultra-low iron content glass that maximizes natural illumination; flooring with Re-Use series porcelain tiles made of 100% pre-consumer recycled materials; furniture crafted from recycled plastic sources from post-industrial waste and products made using eco-friendly Palm Strand Boards (PSB).

The Green Walls of the Lounge have been designed with innovative fabric pocket structure that allows plants to absorb air and return excess water to the circulation tank. The wood materials are formaldehyde-free board from upcycled palm waste, locally made in the UAE that reduces carbon emissions associated with transportation. The curtains of the Sustainable Lounge are made of industrial hemp, the most sustainable fiber on planet.

EmiratesGBC, is a non-profit organization aimed at advancing sustainability in the built environment by strengthening and promoting green building practices. The official Green Building Council for the UAE endorsed by the World Green Building Council is focused on ensuring sustainability and protecting the environment with the overarching vision of turning UAE into a global leader for sustainability in the built environment.

Follow EmiratesGBC at https://emiratesgbc.org/about/sustainability-lounge/ to learn more about the Sustainability Lounge.

Sustainable Action Now
© 2024 Living Business. All rights reserved.