Nearly two-thirds (60 per cent) of businesses in the United Arab Emirates (UAE) and Saudi Arabia do not have a framework governing their environment, social and governance (ESG) standards, and around half of those who do are not sure their employees fully understand it.
These were the top findings of an exclusive study of 200 decision makers in the two countries commissioned by ASDA’A BCW, the region’s leading integrated communications agency, to mark the launch OnePoint5, its new ESG advisory dedicated to the Middle East and North Africa (Mena). Its name is inspired by the world’s most important sustainability goal – limiting global warming to 1.5 degrees Celsius above pre-industrial levels.
OnePoint5 aims to strengthen the voice of the Mena region on ESG issues while helping clients to adopt more sustainable business practices. The new advisory arrives as Egypt prepares to host the UN Climate Change Conference, COP27, in November, to be followed by COP28 in the UAE in 2023.
Out of the 200 opinion elites interviewed, 41 per cent said their business already had an ESG framework in place, while a third (33 per cent) said they were developing one. A quarter (26 per cent) admitted their company had no ESG policy. Underscoring the need for raised awareness of the benefits of ESG standards, over half (52 per cent) of respondents who said their company had introduced an ESG framework said they did not fully understand it.
Sunil John, President – Mena of BCW and Founder of ASDA’A BCW, said the research indicated that the Middle East’s business community had work to do to meet the high expectations of their governments on sustainability best practice.
“OnePoint5 can help client develop a strong ESG proposition to deliver greater value for their shareholders and stakeholders,” said John. “The specialist advisory will be led by Stephen Worsley, Senior Vice President at ASDA’A BCW. A communications professional with more than 25 years’ experience, he has advised clients in the sustainability and energy sectors, including Masdar, Total, Zayed Sustainability Prize, Engie and First Solar.”
OnePoint5 offers four key services: Advice & counsel to client decision makers to ensure sustainability thinking is central to their business planning and disclosure; auditing and gap analysis to understand a client’s sustainability impacts; designing operational plans to help integrate best practices; and communications strategies and plans to help clients inform and motivate employees and internal stakeholders, as well as amplify external stakeholder awareness of their sustainability commitments.
“The gap between awareness of the acute need to advance sustainable development and action on the ground by much of the business community needs closing,” added John. “Consultancies like OnePoint5 can help clients address this so-called ‘say-do’ gap, by combining the skills of experienced communicators with the technical abilities of sustainability specialists.”
He said: “The UAE, Saudi Arabia and several other countries in Mena have pledged to go Net Zero and are enacting a wave of reforms aimed at raising the bar for transparency, good governance and sustainability – that is not to mention the massive infrastructure projects being undertaken, from The Line in Saudi Arabia to Expo 2020 in Dubai, the most sustainable Expo ever staged and the planned venue for COP28 next year. The message is clear: all of us need to raise our game.”
The survey further revealed that Middle East businesses need to pick up the pace on climate action, with about two-thirds (61 per cent) of decision makers in the UAE and Saudi Arabia saying that global warming was already having an impact on the way their business operates.
While governance standards also show room for improvement, 40 per cent of businesses in the two countries claim to have robust policies to combat bribery, corruption and unethical behaviour. Forty-six per cent of respondents in the UAE and 43 per cent in Saudi Arabia said they had a whistle-blower policy in place to expose corruption.
The survey was conducted by PSB Middle East, the wholly owned data and analytics subsidiary of ASDA’A BCW, from May 22 to 29, 2022. The interview sample, comprising decision makers directly involved in ESG affairs, was evenly split between Saudi Arabia and the UAE.
Source: Khaleej Times
Masdar City, the pioneering sustainable community and technology and innovation hub in Abu Dhabi, has announced its latest development – Masdar City Square (MC2), which will advance its contribution to the UAE Net-Zero by 2050 Strategy. Work on the development will begin this year and is scheduled for completion in 2024.
In a statement, Masdar City said that the new project will cover an area of 29,000sqm and have a gross floor area of 50,000sqm. Built in coordination with its consulting partners Woods Bagot and Faithful+Gould, MC2 will extend Masdar City’s commitment to Net Zero, sustainability, technology, and wellbeing by nurturing an expanded community of businesses operating in harmony with the environment, the statement added.
The development includes seven single- and multi-tenant office buildings and a parking facility, all reflecting innovative design, the statement continued. Six of the buildings will be built to the highest green construction specifications while the MC2 Headquarters building will be Abu Dhabi’s first Net Zero energy office building, meaning it will use no more energy than it produces by integrating energy efficiency-focused design and systems and renewable energy technologies.
This contribution to Net Zero is of great importance to the UAE, which in 2021 became the first country in the Middle East and North Africa region to commit to achieving Net Zero emissions through its UAE Net Zero by 2050 strategic initiative. The MC2 Headquarters building will be immediately identifiable by its innovative solar photovoltaic panel canopy.
Speaking at the occasion of the groundbreaking, Ahmed Baghoum, Acting Executive Director, Masdar City, said: “Masdar City is already home to one of the world’s largest clusters of green buildings with Estidama and LEED certifications. With the completion of MC2, and its seven new green buildings, including Abu Dhabi’s first Net Zero energy office building, we are further demonstrating how urban development can be both economically and environmentally sound and sustainable. Masdar City is proud to serve as a testbed for sustainable urban development and we look forward to seeing how MC2 enriches Masdar City, Abu Dhabi, and the UAE.”
The ground-breaking ceremony was attended by key representatives from Masdar, Masdar City and development partners, including Ahmed Baghoum, Acting Executive Director of Masdar City and Abdul Aziz Bin Shafar, CEO of ASGC. Six of the MC2 buildings will be 4-Pearl Estidama, LEED Platinum, and WELL Gold certified.
The buildings in MC2 add to Masdar City’s legacy as a regional pioneer in Net Zero and green construction, the developer said. In 2017, Masdar City announced the completion of its Eco-Villa Project, the UAE’s first Net Zero energy villa. The 405sqm villa was the first in the country to achieve a Four-Pearl rating, using around 72% less energy and 35% less water than a conventional villa of the same size in Abu Dhabi, mitigating 63 tonnes of carbon dioxide.
MC2 will be located adjacent to Masdar City’s existing development centred around the Mohammed bin Zayed University for Artificial Intelligence (MBZUAI) and the Siemens Middle East Headquarters. MC2 will incorporate the existing International Renewable Energy Agency (IRENA) Headquarters and will include courtyards, a day-care, an amphitheatre plaza, shaded pedestrian boulevards, a fitness centre, a meditation room, and more.
Faithful+Gould, a member of the SNC-Lavalin Group, has been awarded a project management consultancy services contract, while global architectural and consulting firm Woods Bagot will handle design and construction supervision consultancy for the MC2 project. Woods Bagot previously designed the IRENA Headquarters in Masdar City.
Masdar City, which opened in 2010, is one of the world’s most sustainable urban developments and the only planned and approved R&D cluster in Abu Dhabi. A 10 MW solar array and rooftop panels provide the City 1MW of solar energy to meet some of its power needs. All buildings within Masdar City are mandated to achieve at minimum a 3-Pearl Estidama rating, meaning they are designed to reduce energy consumption by at least 40% and reduce water consumption by at least 40% compared to provided standards.
The City is home to over 1000 companies, dedicated to developing innovative technologies across the sectors of renewables, energy storage, artificial intelligence, health, space, and mobility. These include, among others, IRENA, the UAE Space Agency, Siemens, the Advanced Technology Research Council (ATRC) and its two pillar entities, Technology Innovation Institute (TII) and ASPIRE, Tabreed, Honeywell, and the MBZUAI. Masdar City is also home to the leading health technology company G42 Healthcare (G42), which is known for introducing one of the world’s largest Covid-19 testing and diagnostics laboratories.
Source: ME Construction News
A first initiative from the Partnering for Sustainability programme is a continuation of Schneider’s initiatives to empower its extensive ecosystem of partners to move toward a more sustainable future
UAE - Schneider Electric, a leader in the digital transformation of energy management and automation, has announced the launch of the inaugural Schneider Electric Sustainability Impact Awards to recognise the critical role that Schneider’s partners play in delivering a more resilient and sustainable electric world.
A first initiative from the Partnering for Sustainability programme is a continuation of Schneider’s initiatives to empower its extensive ecosystem of partners to move toward a more sustainable future.
It includes comprehensive education and training, a simplified product portfolio, an open and collaborative support ecosystem and access to expertise and resources on digital transformation.
Designed to empower partners to become more sustainable in their own practices and support their customers on the path to net-zero, the program provides four easy steps that partners can follow to future-proof their businesses.
The Schneider Electric Sustainability Impact Awards will recognize a wide range of partners in two categories:
*Sustainability: Impact for my company: for partners who exhibit sustainability leadership in decarbonizing their operations,
*Sustainability and Efficiency: Impact for customers: for partners who demonstrate sustainability leadership by helping customers to achieve their decarbonization goals.
Entries will be carefully assessed on how they are leveraging energy and automation digital solutions to electrify operations, reduce energy supply, increase operational efficiency and embrace circularity across the value chain.
Eligibility requirements
These awards are open to all organizations worldwide that work with Schneider Electric to enable efficiency and sustainability. Partner organizations need to be one of the following business types to take part in the program: Homebuilders; IT Partners; Partner Builders; Design Firms; Contractors; System Integrators; EcoXperts; OEMs; Industrial Automation System Integrators; Machine Integrators and Industrial Automation Distributors.
Schneider Electric said the nominations will officially be accepted starting from July 1 until November 25. These will be later shortlisted for the Regional Awards, before streamlining further for the Global Award and the final winner will be announced at a special ceremony in January next year.
On the debut partner awards, Rohan Kelkar, Executive Vice President (Power Products) said: "We are all on the same mission - to accelerate the path to net-zero. At Schneider, we want to recognize those who are embedding positive change in their business operations. Partners who excel at this set a precedent for others to follow."
"We know there’s power in numbers and together we can deliver a significantly larger impact through considered sustainable and efficient practices," he added.
Source: Zawya
For initial operational stage in 2023
- A new milestone in the project’s development
Dubai: Dubai Municipality has announced the installation of a generator at the Dubai Waste Management Centre, the world’s largest waste-to-energy project, marking the beginning of preparations for the initial operational stage in 2023. This step is a new milestone in the project’s development with the generator playing an important role in producing power.
Following the installation of the steam turbine, Dubai Municipality took the decision of installing this generator to promote power sustainability at the Dubai Waste Management Centre. This project reports a production capacity reaching 200-Megawatt hours (MWh), which is reliant on the steam turbine. This turbine enables the generator’s operation, which is followed by conversion of rotational energy into electricity. The power output from this is transmitted to the feeding station by a 132-kilovolt cable network.
The initial operational phase by next year
Dawoud Al Hajri, Director General of Dubai Municipality, said: “The step to install the generator was taken as a preparation process for the initial operational stage of 2023 at the Dubai Waste Management Centre. This is the largest waste-to-energy project in the world. It is projected to have a high capacity of clean energy generation by 2023 and the site will be fully operational by 2024.”
The Dubai Waste Management Centre combines eco-friendly waste processing with clean and renewable energy generation by efficient operational processes using recycled water from the treatment plant in Warsan. Approximately 1.9 million tons of waste per year will be treated at this project, which will have the capacity to provide power to over 135,000 households.
Source: Zawya
DUBAI: Six years after the Dubai Roads and Transportation Authority laid the roadmap for driverless vehicles by 2030, smart mobility has swept the landscape with intelligent concepts that are changing the region’s social infrastructure.
The move has already spurred sustainable cities into high gear with smart transportation such as autonomous shuttles, e-bikes and e-buggies set to own the roads.
An excellent example of a fully-integrated residential project is Sharjah Sustainable City. This eco-friendly concept is powering a net-zero energy community with energy-efficient villas that promise to offer sustainable living at no extra cost.
Developed by Sharjah Investment and Development Authority in partnership with Diamond Developers, the sustainable city will host the best green technology, including solar-powered smart homes, bio-domes for vertical farming, electric vehicle chargers, driverless shuttles and a biogas plant.
“The UAE is the first country in the Gulf Cooperation Council to commit to net-zero by 2050; all growth and development must align with that commitment, which means we have to do our bit,” Karim El-Jisr, chief sustainability officer, SSC, told Arab News.
Sustainability pyramid
Comparing smart mobility to a pyramid, El-Jisr explained that the bottom constituted soft mobility, including people who walked or cycled to commute. The SSC master plan covered this aspect by building roads with no zebra crossings.
“There would be no need to cross zebra lines or intersect with vehicles to reach any of the 1,250 villas in SSC. The residents and visitors could connect to those villas on foot,” said El-Jisr.
The next pyramid level involved shared mobility, using electric buggies and concierge services.
“The concierge team would manage buggies, which residents can book over their smartphones. The concierge team can increase the numbers based on future demand,” he added.
The topmost level of the pyramid featured electric vehicles, and SSC will encourage people to switch from gasoline to electric cars.
“We will provide charging stations throughout the development. It will be the highest density of charging points in any project across the GCC,” said El-Jisr, adding that there will be 80 charging points in the community.
The sustainable city is also studying the autonomous shuttle trials in Dubai to determine if they should implement them.
Advent of faceless mobility
The story doesn’t end there. Last December, UAE-based sustainable transport company ION broke all barriers to mobility by launching the UAE’s first autonomous shuttle service along the Ajman Corniche.
The autonomous shuttle uses a public road between the Fairmont Hotel and the Coral Beach Hotel on the Ajman Corniche. ION is a joint venture between Bee’ah, the Middle East’s sustainability pioneer, and Sharjah-based Crescent Enterprises.
“In addition to deep learning technologies, the autonomous shuttle is equipped with 3D vision, automatic routing, navigation, IoT sensors for optimal safety, and motion sensors to open and close doors,” Nasir Al-Shamsi, director of sustainable mobility at Bee’ah, told Arab News.
By receiving data from traffic lights and traffic signals, the autonomous shuttle detects the surroundings of the shuttle and sends an alert whenever it approaches a pedestrian crossing.
Along with wheelchair accessibility, the shuttle has an emission-free design and can seat 15 passengers simultaneously.
Al-Shamsi said that about half of Dubai’s population does not own vehicles and relies heavily on public transportation, adding that autonomous vehicles are safer than human-driven ones since a driver could make a mistake that causes an accident.
“More than 90 percent of accidents in the UAE are caused by human error. If you translate that 90 percent, these are equivalent to billions of UAE dirhams. This loss by itself weakens the economy,” he said.
According to Al-Shamsi, the company is also toying with the idea of launching drone delivery solutions beyond the visual line of sight, which could lead to goods delivered between buildings.
The company is currently testing the system and will soon launch the first trial in cooperation with the Sharjah Civil Aviation Department.
Bee’ah is looking into ways to incorporate micro-mobility through electric bikes and scooters.
Biking on zero-carbon footprint
Dubai-based Careem Bike is poised to become the world’s largest pedal-assisted docked bike-share scheme by deploying 175 stations next month.
The company initially introduced 800 e-bikes and 80 stations across the city under a 15-year partnership with Dubai’s Road and Transportation Authority.
“We just exceeded 2 million trips and about 10 million kilometers in the distance traveled, displacing about 450 cars in the city in terms of CO2 emissions,” Sami Amin, senior director of operations, Careem Bike, told Arab News, while adding that the company plans to expand to 3,500 bikes and 350 stations.
Like most cities in this region, Dubai is car-centric, and the roads are not designed for cyclists. However, RTA is keen on transforming the area into the most cycle-friendly city in the world.
With a clear focus on sustainable mobility, the company is exploring autonomous vehicles, delivery robots, and other electrified vehicles. “Driving sustainability is our core strategy,” said Amin.
Through sustainable cities, reducing cars, and implementing micro-mobility, communities will be more livable by decreasing the cost of transportation, making them accessible, and reducing the carbon footprint and general pollution. Smart mobility is all about communities.
Source: Arab News, https://arab.news/rfztf
In line with the UAE’s 2030 sustainability goals and circular economy principles, Dulsco-the region’s leading Integrated Solutions Provider, and Choithrams, the supermarket giant has partnered to organise a Recyclables Collection Drive. The two-week long campaign will take place between 3 pm – 8 pm from June 20th – 26th at the Greens Branch, and June 27th – 3rd July at the Safa Park Branch. The sustainability initiative strives to inspire a culture of recycling and leading a more eco-friendly life among the community, by providing a practical outlet for community members to do so with ease.
Visitors to the Drive are requested to bring in all recyclables to the aforementioned Choithrams store, where they will be met by a Dulsco volunteer to guide them through the process and weigh the recyclable items. The first 100 customers to arrive with 5kgs or more in recyclables will receive a Choithrams voucher worth AED 10 to spend in-store, as well as a Dulsco reusable bag made from a plastic bottle.
The average person generates an alarming amount of approximately 1 to 2.25 kg of waste per day. Dulsco remains focused on landfill diversion through their multiple waste management facilities and initiatives, explains David Stockton, CEO of Dulsco: “It is a pleasure to partner with Choithrams on this initiative to raise awareness for recycling and the environmental impact it has on both a small and large scale. The Recyclables Collection Campaign is part of our aim to continuously find solutions to make the communities we serve more efficient, productive, and sustainable. This initiative enables us to connect directly with the community and offer an easy and convenient means to recycle, ultimately helping to divert waste away from landfills, and contribute to a cleaner environment.”
Mixed Recyclables collected will be weighed on-site before transportation to Dulsco’s Material Recovery Facility in Dubai for further processing. At the conclusion of the campaign, an assessment will be carried out to determine the quantity of recyclables collected, successfully recycled, and the net impact on the environment, as part of Dulsco’s company values of full transparency.
Rajiv Warrier, CEO – GCC, Choithrams said “At Choithrams, our ‘Full of Goodness’ promise takes shape both in-store through our products and services, as well as through interactions with the communities we serve. We are pleased to partner with Dulsco for a Recyclables Collection campaign. We have participated in several collection drives in the past two years in partnership with Dulsco, and we will continue to encourage our customers to reduce waste and dispose recyclables responsibly. Choithrams is committed to the adoption of robust waste management practices with quality control measures and waste reduction interventions implemented across our offices and our stores in Dubai, Northern Emirates, Abu Dhabi and Al Ain.”
The Dulsco Recycling Bus will also visit the designated locations on certain days, allowing visitors of all ages to learn more about waste segregation and the recycling journey in its entirety. Also on the weekend a special appearance at the two Choithrams stores is ‘Birdy’, Dulsco’s loveable mascot, specifically created to engage with younger visitors through entertainment to inform, educate, and entertain.
Source: Zawya
Ibrahim Al Zubi, Chief Sustainability Officer, Majid Al Futtaim Holdings speaks to Big Project ME about why incorporating sustainable practices is the only way to do business
As the leading shopping mall, communities, retail and leisure offerings provider in the Middle East, Africa and Asia, Majid Al Futtaim has come a long way from humble beginnings. Founded in 1992, the company established City Centre Deira in its home base of Dubai in 1995, marking its first foray into the shopping mall, communities, retail and leisure sectors.
From there, it has grown to be currently active in 15 countries, with reported revenues of $8.79bn in 2021, while the group net profit for the 12 months to the end of December was $670mn. With more than 43,000 employees across its operations and approximately 560mn visitors served through its various consumer offerings (it owns and operates 25 shopping malls, 13 hotels and four mixed-use communities), the company is uniquely positioned as one of the most influential in the Middle East and North Africa region, if not even further afield.
This success is because Majid Al Futtaim remains, at its heart, a company that is committed to giving back to the community. It’s leadership attributes this to its robust and comprehensive approach to CSR, with considerable pride taken in implementing a number of employee-led initiatives that improve the lives of the people and cities it serves.
However, amongst its many CSR programmes and offerings, it is its drive to embrace sustainability that will have the most impact, both in the present and the future. Created under the umbrella motto of ‘Dare Today, Change Tomorrow’, Majid Al Futtaim has developed company-wide goals and initiatives to help it meet stringent Sustainable Business Commitments and annual sustainability targets.
These targets are aligned with the company’s strategic focus areas and are built around three key issues: Transforming Lives; Rethinking Resources; and Empowering People. Through these targets, the group aims to become one of the most sustainable companies in the world, aiming to produce more energy and water than it consumes, and becoming a Net Positive business by 2040.
As part of this process, Majid Al Futtaim announced in August 2021 that it had signed an inaugural $1.5bn Sustainability-Linked Loan (SLL) – a financial instrument that is secured primarily on environmental, social and governance (ESG) performance.
The reason this SLL is so important is because it aims to facilitate and support environmentally and socially sustainable economic activity and growth by incentivising ‘ambitious, predetermined sustainability performance objectives.’
The five-year SLL is structured as a revolving credit facility and is the largest corporate, non-government-linked SLL in the region, as well as being the largest in the MENA real estate sector, with more than a dozen banks participating in the syndicate.
Ziad Chalhoub, Chief Financial Officer of Majid Al Futtaim Holding, has said that the SLL will provide genuine accountability in how the group finances its operational and capital expenditures across the organisation, in line with the company’s long-term strategic targets.
“While a company’s profitability is important, how you contribute to sustainability is becoming more crucial and a filter for investors to decide how much and where they will invest. To ensure that you have access to funding – and at attractive rates – in a world where sustainability is becoming more important, it is imperative to embrace this reality now and not be left behind,” he has been quoted as saying, highlighting the importance the group places on its sustainability agenda.
One of Majid Al Futtaim’s core ambitions is to have all its malls certified LEED Gold or better, a feat that has not yet been achieved by its regional competitors. Last year, subsidiary Majid Al Futtaim Properties, announced that the 13 hotels in its portfolio received LEED Platinum certification – a regional first and a source of pride for the group.
Furthermore, the company’s SLL agreement also includes a gender diversity target, with women to make up 30% of its board members and senior management roles, aligning with the global aims of the 30% Club.
The driving force behind these many successes and ambitious targets is Ibrahim Al Zubi, the group’s Chief Sustainability Officer. Having joined the group in 2011 as the Head of Sustainability for Majid Al Futtaim Properties, he has seen a meteoric rise within the organisation, culminating in his current role, where he oversees the group-wide sustainability strategy for both the Middle East and globally.
Al Zubi also serves as the chairperson of the Corporate Advisory Board for the World Green Building Council and has authored ‘How to ‘Net’ Positive’, a book that outlines how companies can embark on their Net Positive Journey and provides a conceptual and practical blueprint to help them start the process. He tells Big Project ME that his sustainability strategy for Majid Al Futtaim is built around three core pillars – Planet, People and Profit.
“When it comes to the environment, our main focus area is called Rethinking Resources, which is mainly focused on our negative environmental impact, if any. We know that business as usual no longer exists – especially after COVID.”
“That’s why we are the first and only company in the region, and one of the few globally, to commit to be Net Positive by 2040. That means that you give more than you take – we’re not even looking at Net Zero or Carbon Neutrality – we saw our negative environmental impact, we saw our energy consumption, our carbon emissions and our water waste and we decided to aim to be Net Positive (by 2040). This means that we’ll be producing water and clean energy, which has unleashed a lot of innovation within the company.
“By 2030, the Circular Economy will be at the heart of our business operations – circularity should be embedded in the business, in the way you think and ruin it – whether it’s construction or retail. If we’re achieving an average of almost 85% divergence of waste from landfills, then we could achieve 100% if we implemented the circular economy approach and thinking in our operations. There’s a good example of this with Masdar,” he points out.
“The second part is Transforming Lives – the communities that we work and operate in; and Empowering Our People. These are our three main focus areas. We have materiality issues and sustainable business commitments to achieve, as well as our long-term and short-term targets, which have been assured and audited by a third party – as they have been for the last 11 years. We believe in communicating our successes and our failures, as well as how we can fix those failures,” Al Zubi adds, pointing out that transparency is a key facet of the process.
He points out that the 2021 Sustainability-Linked Loan followed a landmark announcement in 2019, which saw Majid Al Futtaim listing the world’s first benchmark corporate Green Sukuk and the first Green Sukuk issued by a corporate in the region.
Having raised $1.2bn in two rounds of $600mn each, the investment has been used to finance and refinance Majid Al Futtaim’s existing and future green projects, which include green buildings, renewable energy, sustainable water management, and energy efficiency, Al Zubi says.
He adds that having banking and financial institutions backing sustainability will not only make it possible for companies to follow it comprehensively but will also shape the future of how the world does business.
“If you look at pure risk assessment and mitigation, it’s the only way. Sustainable finance is an enabler for companies to keep running business, as well as to take us to the next level. The minute you move towards sustainable finance, it means doing a risk assessment exercise, be it on reputational and financial – as well as climate – risk, so of course it’s going to change (things) and have a positive impact.”
He comments, “It’s a win-win for corporates to ensure that they are transparent and making their shareholders happy. At the end of the day, humans are good – they want to make a difference. If you have a pension fund and you would like to invest somewhere without harming the environment, then your tool is sustainable finance.”
“At the end of the day, what’s happening globally with droughts and floods and supply chain disruption, to do sustainable finance, you should look at ESG, which adds a layer of transparency, and another layer of risk assessment and mitigation, and you’re not hurting the planet. So, it should be a no brainer for businesses and corporates, regardless of whether they believe in it or not, but it is absolutely an enabler for people like me to achieve their targets when it comes to climate change.”
“Sustainable finance is the new common language between – if there is any now – the two camps of climate change deniers and those who support change. I think that sustainable finance will ensure that there will be no climate deniers because the economic value of doing such transactions for the planet, the shareholders, and the corporates,” he asserts.
Al Zubi believes that governments in the GCC have recognised the benefits that come with investing in sustainability. He points out that their visions and plans for their countries’ futures all have sustainability at their heart, highlighting the Dubai Urban Master Plan and Saudi Vision 2030 amongst others.
“I like seeing more and more of these initiatives – the more the better! We’re young nations, so it’s our opportunity to do things right and we’re doing that. A good example is that at Majid Al Futtaim, we made the decision to remove single use plastic from all our operations (pre-COVID) and we introduced the reusable bag 15 years ago.”
He remarks, “We’re progressive about (things like this) and this is a reflection of the region. Show me one global city or country that has an urban plan for an international city like Dubai, Abu Dhabi or Riyadh, that has sustainability at the heart of it?”
“These strategic plans have society at the heart of what they are – they look at walkability, technology, AI, greenery, and sustainability, they look at green building certification, they look at the wellness. This is all a package. If you ask any practitioner or any built environment expert, they’ll say that it’s an amazing idea, that it’s like a lab for us, and that it should be a global initiative.”
“The way I look at these initiatives is that we should be more vocal about it. I don’t think it’s regional – it’s global and it should be copied by other countries as well. When you talk about a commitment for 2040, you’re thinking of the wellness, the walkability, the mobility, the happiness of residents, as well as the environment, and the sustainability of a whole urban city. This is exactly what we’ve been asking for 20 or 30 years ago, and this is exactly what people are talking about now, as we speak.”
Majid Al Futtaim has been no small contributor to this conversation, Al Zubi says, highlighting the group’s many efforts over the years to introduce sustainability initiatives across its operations. He believes that these efforts have been noticed by the market, with competitors following suit once they saw the business case for it.
“We don’t look at it as an add on, but as something that is embedded in the heart of everything we do, and this is where I think we triggered the movement of green buildings. In 2008, people did not know what green building certification was. We believe that we have the world’s biggest LEED EBOM Platinum in the world in Mirdif, we have the first net-positive standalone structure certified in the Middle East – the Tilal Al Ghaf Experience Centre, and we have a whole portfolio of hotels that are LEED Platinum certified,” he continues.
“This means that it can be done and that there is a demand for it from stakeholders. Because of these two things, there’s a business value for it. We have created a movement and the norm now is to go and get certified. We have more than 3,000,000sqm of green certified assets and we started from almost zero. This has created an appetite for investors to come to us because we have solid, certified assets, so it made sense for the business.”
“This is the key thing we did in national terms, for the business value of sustainability in the built environment and retail sector. Other developers saw that and have seized the opportunity,” Al Zubi elaborates.
Looking forwards, he adds that when it comes to Majid Al Futtaim’s upcoming project portfolio, policies have been put in place for the incorporation of sustainability principles and renewable energy. Much like the company’s previous efforts, he expects these initiatives to have a similar impact on the wider real estate development landscape.
“We have policies in place for the rebuilt environment and one of them says that everything we build must be LEED Gold certified or equivalent. This is where we control the indoor air environment, which means we integrate energy efficiency and climate change mitigation in the design, and when we do energy commissioning, we ensure that the asset is, from the design stage, green certified.”
“The second step is that we have a renewable energy policy on site, which states that a maximum of 25% of peak energy conserved to be generated onsite. If that’s not enough, we go offsite. That’s why in Jordan, for example, we have invested and partnered in a power purchase agreement to build an offsite power generation unit that will give us 60% to 70% of our retail energy from clean energy. We’re doing the same in Egypt. Wherever we are.”
He concludes, “But the most important this is that from the design stage, our policy is to aim for an energy efficient asset, and during construction and operation, we ensure that there are diversified sources of energy.”
Source: ME Construction News
President Sheikh Mohamed sets out plans for meeting of world leaders
The upcoming Cop 28 climate conference will be held at Expo City Dubai, President Sheikh Mohamed has said.
The meeting of world leaders in November 2023 will seek to find solutions to the threats posed by climate change.
Expo City - the legacy district of the six-month Expo 2020 Dubai world fair - was unveiled to the public earlier this week. It will reopen to the public from October 2022 with residents and businesses set to move to the area.
At the 28th session of the Conference of the Parties, as it is formally known, leaders will be urged to commit to tougher action on climate change including cutting the use of coal-fired power stations, reducing reliability on fossil fuels and boosting renewable energy sources.
It will follow on from Cop 27 in Egypt this November.
A statement carried by news agency Wam said the decision underlines the "venue's unique proposition as a state-of-the-art destination, which brought the world together in the UAE for six months".
"Both Expo 2020 and Cop 28 share similar objectives: achieving sustainability and promoting international action as essential steps towards facing global challenges."
The selection of Dubai Expo City as a venue for Cop 28 builds on the legacy and message of 'Connecting Minds, Creating the Future".
Key goals of Expo 2020 were sustainability, opportunity, and mobility, while showcasing its sustainable infrastructure.
The conference is expected to see over 45,000 participants daily, including heads of state, government officials, international industry leaders, private sector representatives, academics, experts and representatives of civil society organizations.
It will run for 12 days from 6-17 November 2023.
The new city, unveiled by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai on Monday, will be a global hub for innovation and creativity, he said.
Source: The National News
Bridgestone, a global leader in tyres and rubber providing solutions for safe and sustainable mobility, recently bagged the ‘Innovative Sustainable Tyre Technology Provider of the Year’ recognition at the premier ‘Sustainability Innovation Awards 2022,’ hosted by BNC Publishing.
The company won the award for contributing to safe and fuel-efficient travel through its wide range of innovative tyres. Bridgestone accepted the honour during the awarding ceremony held at Sofitel Dubai The Palm Resort and Spa.
Stefano Sanchini, Regional Managing Director, Bridgestone Middle East and Africa, said: “The latest achievement proves that our efforts to help build a sustainable mobility future have been making a huge difference in our industry. This further inspires us to intensify our initiatives by deploying the right technologies and embracing other innovations that will propel our shared sustainability agenda. Our efforts will remain guided by our mission focusing on ‘Serving Society with Superior Quality’ and Bridgestone Group’s worldwide ‘Our Way to Serve’ Corporate Social Responsibility (CSR) commitment.”
“We would like to thank the organisers and judges for recognising our contribution towards innovation and excellence. With sustainability as our focus, we will further strengthen our commitment to research and development in the coming years. Congratulations to the entire Bridgestone family on yet another milestone this year,” he added.
The Sustainability Innovation Awards 2022 is one of the leading events that honours the sustainability initiatives and projects of all sectors in the Middle East. The Awards recognises individual excellence, corporate strengths, and project success.
Bridgestone has been active in linking its business model to circular economy and carbon neutrality across the value chain. This has led to the implementation of its numerous sustainability programs such as its carbon footprint reduction initiatives.
Reducing its carbon emissions forms part of the tyre company’s long-term environmental goals, which include contributing to Milestone 2030 and fulfilling the initiatives under its E8 Commitment.
The E8 Commitment is a powerful expression of Bridgestone’s corporate commitment towards 2030. It provides a framework for the company’s continued evolution as Bridgestone 3.0 and the transformation of its business model.
Aiming to become a leader in sustainable mobility and advanced mobility solutions, Bridgestone remains committed to pushing the boundaries of what is possible in engineering to deliver new cutting-edge and sustainable products.
Source: cbnme.com
Boston Consulting Group (BCG), one of the world’s leading management consulting firms, today announced that they have partnered with Emirates Nature-WWF to lay a new foundation for climate action by empowering the youth in the UAE through the innovative flagship and impact-driven Leaders of Change program; a program comprising of academic and skills training, dialogues engagement, solution ideation, and excursion and mission participation in nature.
“We know we can make the greatest impact through collaboration with crucial stakeholders, as our diverse Dubai team continues to help organizations and governments tackle today’s most urgent challenges,” said Simon Birkebaek, Partner, BCG. “But we are also on an ongoing mission to live up to our commitments, strengthening ethical and responsible business practices within BCG and working day by day to help build a sustainable and inclusive future and make a difference in society. Our commitment to the Emirates Nature-WWF is a token to that to shape a sustainable future for both the people and planet.”
Currently, BCG follows a three-step Net-Zero Strategy to reduce, remove and engage and contribute to society by massively investing in work with governments, industries, NGOs, and coalitions for climate impact. The firm has long been working with the global, regional, and local communities to advocate for ambitious NDCs, climate-positive regulation, and a just energy transition.
“We understand that purpose fuels performance. Using a holistic, human-centric lens, we collaborate at BCG with clients on the fundamental pillars of people strategy: leadership and culture, talent and skills, and more. Rather than offering traditional, ancillary programs in leadership development and talent development, we have an opportunity to enable youth to activate and embed new ways of thinking climate action, and that begins at home,” added Björn Ewers, Managing Director & Senior Partner, BCG
As part of BCG’s leading net-zero pledge, the firm has also supported COP26 as the official consultancy partner and acts as the chief advisor to the WEF Alliance of CEO Climate Leaders, and has embarked on numerous projects with WBCSD, WWF, SBTi, CDP and other leading organizations.
“The cooperation, collaboration, and co-creation that we have seen amongst the public and private sectors, local and national legislation, and local communities as part of the Leaders of Change program has been inspiring and affirms the importance of digital innovation and inclusive conservation. BCG has an unrivaled commitment to climate action and the firm’s longstanding experience at industry, policy, and regional levels will make it a valuable partner in our ambitious endeavor. Together, we look forward to making further contributions to the UAE’s commitments at COP28 and climate-related policies, supporting the UAE’s Green Growth Strategy” commented Laila Mostafa Abdullatif, Director General, Emirates Nature-WWF.
-Ends-
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
ABOUT EMIRATES NATURE–WWF
Emirates Nature–WWF is a non-profit organisation established to conserve the United Arab Emirates’ natural heritage and build a future where people and nature thrive. The organization was founded in 2001 under the patronage of H.H. Sheikh Hamdan bin Zayed Al Nahyan, the Ruler’s Representative in the Al Dhafra Region and Chairman of the Governing Board of the Environment Agency—Abu Dhabi, as a legacy of the late Sheikh Zayed’s vision for the United Arab Emirates. For two decades, Emirates Nature–WWF has been a prominent and active partner in environmental conservation in the MENA region. We work in association with WWF, one of the world’s largest and most respected independent conservation organisations. As a local conservation think-tank and pioneers of the “Leaders of Change” programme, the world’s first-ever digital membership platform for the environment – we empower, convene and mobilize civil society, government entities and businesses to support the UAE’s sustainability agenda and deliver transformative impact at scale for the benefit of people and planet alike. Learn more about the “Leaders of Change” programme at www.leadersofchange.ae and our various other projects at www.emiratesnaturewwf.ae.
Source: Zawya
