DP World’s latest Environmental Social and Governance (ESG) report reveals a 5% reduction in direct carbon emissions from its global operations in the previous year. This progress signifies the company’s advancement towards achieving its 2040 carbon-neutral goal. The ESG report, developed following the latest Global Reporting Initiative (GRI) Standards, highlights DP World’s dedication to sustainable business practices.
Throughout 2022, the company has strengthened its ESG Governance and Risk Management framework, established an Executive Sustainability Council to provide strategic guidance on sustainability and ESG metrics, incorporated ESG as a risk in its corporate enterprise risk register, and published its inaugural standalone ESG Report for 2021, marking a significant milestone for the organization.
Maha AlQattan, Group Chief People and Sustainability Officer, DP World, said: “We believe in enabling resilience, and building a smart and sustainable future that generates long-term societal impact. In 2022 we saw continued global headwinds but that challenged us to push new frontiers of collaboration. I’m proud that we have cut our direct carbon emissions by 5%, and significantly increased our community contributions. We recognise our impact and are continuing to look at how we use our resources responsibly, on issues from education to WASH infrastructure, in line with our clear roadmap for the future.”
DP World has strengthened its relationships with partners to further the advancement of two important aspects: Women and Water. The Group Chairman and CEO, Sultan Ahmed Bin Sulayem, was recognized as the first HeForShe champion in the Middle East by UN Women on International Women’s Day last year. Additionally, the company has embarked on a three-year global partnership with WaterAid, aimed at providing water, sanitation, and hygiene (WASH) infrastructure, beginning in Mozambique, according to TradeArabia.
In addition to these initiatives, DP World has actively participated in significant events such as the World Economic Forum (WEF) Annual Meeting in Davos and the United Nations General Assembly (UNGA). These engagements underscore the company’s commitment to making progress in environmental, social, and governance (ESG) matters while also expanding its network of partners and advocates.
DP World places significant emphasis on decarbonization, considering it a central focus of its business. The company has already made a commitment to achieve carbon neutrality by 2040 and net zero carbon emissions by 2050, aligning with the United Arab Emirates’ goal of reaching net zero by 2050.
During the COP 27 event in November, the chairman of DP World announced the company’s participation in the Green Shipping Challenge. As part of this commitment, DP World plans to invest up to $500M over the next five years to reduce CO2 emissions by approximately 700,000 tonnes. Additionally, DP World has formed a strategic partnership with the Maersk McKinney Moller Centre for Zero Carbon Shipping and has joined the UN Global Compact’s Think Lab on Just Transition.
The report also highlights DP World’s significant contributions to communities, showcasing a 34% increase from 2021. The company has engaged in various strategic projects, including partnerships with UN Women, the Earth Shot Prize, and emergency response initiatives in 2022.
DP World’s endeavors have made a significant impact in supporting over 255,000 women and girls through various community initiatives. One such example is the partnership with Barefoot College International (BCI), where DP World has collaborated to train and empower solar engineers in rural Senegal. Additionally, the company has allocated $8.7M towards education projects on a global scale.
These commendable efforts have garnered recognition within the supply chain industry. DP World has been acknowledged as the top performer in terms of environmental, social, and governance (ESG) risk by Sustainalytics, a prominent global authority in ESG and Corporate Governance research and ratings. The company has been honored with the Sustainalytics 2022 Industry and Regional Top-Rated Badge, and it has achieved an A- (Leadership) rating in the CDP Climate Change submission.