In keeping with the objectives of the Paris Agreement and the UAE Net Zero by 2050 Strategic Initiative, Aldar Properties announced the launch of its Net Zero Plan, a commitment to becoming a Net Zero carbon business across its Scope 1, Scope 2, and Scope 3 greenhouse gas (GHG) emissions by 2050.
Aldar has also established science-aligned intermediate targets for 2030, which call on the company to reach Net Zero in its Scope 1 and Scope 2 GHG emissions and produce a 45% decrease in the intensity of its Scope 3 GHG emissions compared to the company’s baseline for 2021.
In its Net Zero Plan, according to WAM, Aldar outlines how it will reduce all of its direct emissions, the embodied carbon in all of its projects and developments, as well as emissions from its tenants and supply chain. Aldar is assuming a leadership role in the worldwide transition to Net Zero and reaffirming its commitment to assisting in the mitigation of climate change by announcing this Plan.
As one of the largest real estate developers and managers in the UAE and with a growing presence throughout the wider Middle East, Talal Al Dhiyebi, Group Chief Executive Officer of Aldar Properties, stated, “Aldar is committed to not only supporting the UAE Net Zero by 2050 Strategic Initiative but also leading climate action in our industry and region.”
“As one of the UAE’s largest real estate developers and managers, and with a growing presence across the wider Middle East, Aldar is committed to not only supporting the UAE Net Zero by 2050 Strategic Initiative but also leading climate action in our industry and region,” added Al Dhiyebi.
“Our Net Zero Plan will drive deep and rapid change across all our lines of business and throughout our supply chain. It will transform our approach to design, supply chain management, construction, operations, and asset management. Our plan is comprehensive, ambitious, and based on science – matching leading global real estate industry benchmarks and setting a new standard for the region in its depth and detail,” he added.
Aldar’s Net Zero Plan will succeed if it has successful partnerships and collaborations. The Company will collaborate closely with suppliers to reduce operating emissions and the carbon footprint of materials. It will also work with commercial tenants and owner groups to promote sustainable asset management.
Aldar’s Net Zero Plan depends on having access to clean energy, hence Aldar plans to collaborate with utility companies to source low-carbon energy as the grid decarbonizes in accordance with the UAE Net Zero by 2050 Strategic Initiative. Aldar will also collaborate with governmental organizations to create the appropriate rules and promote fair competition for partners in the building industry on pathways toward a low-carbon future.
