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ALDAR ACHIEVES HIGHEST ESG RANKING OF LISTED REAL ESTATE COMPANIES IN THE UAE
Aldar Properties has published its third sustainability report showcasing the resilience of its business and sustainable growth strategy in 2020 . The report highlights the significant progress and steps forward that Aldar has made with regards to its sustainability goals .
Aldar has markedly increased its ESG results , despite the COVID-19 pandemic , scoring higher than all listed real estate companies in the UAE , after implementing a refreshed sustainability strategy last year . Furthermore , Aldar was ranked third among all listed companies on Abu Dhabi Securities Exchange and improved its ESG score well above the industry average for both Dow Jones Sustainability Index and MSCI .
Talal Al Dhiyebi , Group Chief Executive Officer at Aldar , said : “ Aldar ’ s new sustainability strategy arrived last year at a time when the relevance of the ESG agenda was beginning to strengthen locally , regionally and globally . Sustainability is deeply rooted in our foundations with a historic commitment to preserving local flora and fauna , developing diverse talent and localising the supply chain .
As one of the first companies in the Middle East to adopt the TCFD framework as part of its sustainability reporting , Aldar is aligning with global best practices to enhance its climate-related disclosures and manage climate change risks across the entire real estate life cycle . It also reflects Aldar ’ s on-going commitment to facilitate the advancement of sustainability in the region by adhering
IT IS OUR FIRM INTENTION TO LEAD BY EXAMPLE IN THE REGION AND TO EFFECTIVELY MANAGE CLIMATE- RELATED RISKS AND OPPORTUNITIES BOTH TODAY AND IN THE YEARS TO COME . to green building standards , investing in sustainable innovation and developing localised procurement policies .
Greg Fewer , Group Chief Financial and Sustainability Officer at Aldar , said : “ Climate change is one of the defining challenges of our time . The business community ’ s response to the climate crisis will have lasting implications for future generations .
“ Aldar ’ s adoption of the TCFD framework , the fact we are now a signatory of the United Nations Global Compact and our focus on developing a robust Carbon Neutral Action Plan by the end of 2021 , clearly indicates the direction of travel for us as a company . It is our firm intention to lead by example in the region and to effectively manage climate-related risks and opportunities both today and in the years to come .”
Aldar ’ s progress is highlighted in the report across the four strategic pillars which the company uses to benchmark developments : Economy , Community , People and Environment . x
“ We are proud that we took that commitment to the next level in 2020 , further enhancing our regional ESG leadership position . As we embark on the next phase of our journey , aligning our strategic priorities with international standards and frameworks will enable us to pursue sustainable and inclusive growth opportunities for the benefit of our stakeholders and to shape communities for the better .”
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