Dubai Investments doubles GHG emissions reduction

Dubai Investments, a leading investment company, has achieved a 32% reduction in total greenhouse gas (GHG) emissions in 2022, equating to an estimated decrease of 212,768 tonnes of CO2, according to the group’s latest ESG report.

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

The emissions intensity decreased from 204.9 tonnes of CO2 equivalent per employee in 2021 to 116.8 tonnes of CO2 equivalent in 2022, with a 61% reduction in total GHG emissions intensity. 

Acknowledging the critical importance of energy consumption, Dubai Investments has proactively pursued strategies aimed at curbing overall energy consumption. Over the course of 2021 to 2022, the company effectively reduced energy consumption derived from diesel, petrol and electricity sources by an impressive 5%. The reliance on fossil fuels also has been significantly curtailed, with diesel consumption witnessing a substantial decline of 14.5%, resulting in a reduction of 31,000 litres since 2020. 

Mohammed Saeed Al Raqbani, Head of Sustainability Committee, Dubai Investments & General Manager, Dubai Investments Industries and Masharie, said: “Maintaining and evaluating ESG performance is an essential part of how we conduct business and reflects our unwavering commitment to environmental sustainability and responsible business practices. Our focus on ESG is a crucial component of our corporate philosophy and enables us to create sustainable long-term value and secure financial returns.”

“Aligning with the UAE marking 2023 as the ‘Year of Sustainability’, we are also embarking on what I believe will be an extraordinary year for the Group as we are making a profound commitment to prioritize sustainability across our investment sectors like real estate, financial investments and manufacturing by applying green building principles for our upcoming new real estate projects, engaging in sustainable due diligence for new acquisitions and focussing on proper treatment of industrial waste respectively”, added Raqbani. 

Water efficiency represented another component as part of the Dubai Investments sustainability efforts. Water efficiency with a decrease in water consumption and an increase in water recycled and reused by over 21% and 28% respectively compared to 2020 in 2022, represented a reuse and recycling rate of over 55.3% for 2022, as against a rate of 32.8% in 2020. A 61% increase in total training hours included other significant highlight in the 2022 Sustainability Report. 

In 2022, Dubai Investments supported projects related to a wide range of community and environmental initiatives focussed on youth development, innovation and environmental protection. Diversity and inclusion marked another important component of Dubai Investments ESG strategy with 9% female representation in the total workforce and 13% representation at middle and senior management level, almost double the level in 2021, it said.

Source: Gulf Daily News