Aldar Properties has unveiled its Net Zero Plan, committing to reaching Net Zero carbon emissions in terms of its scope 1, 2, and 3 greenhouse gas emissions by 2050. This aligns with the Paris Agreement and the UAE Net Zero by 2050 Strategic Initiative.
Aldar has also created objectives for 2030. These include achieving Net Zero emissions in Scope 1 and 2 greenhouse gas emissions. But they also include achieving a 45% decrease in the intensity of Scope 3 greenhouse gas emissions compared to the firm's 2021 levels.
The company’s Net Zero Plan explains how it will achieve Net Zero with its direct emissions. But also explains how it will do so, with the carbon used in its developments and projects, and emissions related to its suppliers and tenants. With this Plan, Aldar is making a big move to Net Zero and showing its commitment to fighting climate change.
INFLUENCING THE WHOLE CYCLE OF OPERATIONS
Aldar’s business operations involve developing and managing a broad range of assets in the real estate industry. This means Aldar can influence carbon emissions in its whole cycle of operations. Therefore, within its Net Zero Plan, the company has also made a commitment to include scope 3 tenant-controlled emissions too.
ESTABLISHING PARTNERSHIPS FOR SUCCESS
Partnerships will be important for Aldar's Net Zero Plan to work. The Company will work closely with suppliers to lower material and operational emissions. It will also work with commercial tenants and owner associations to keep asset operations sustainable. Equally, Aldar needs clean energy for their Net Zero Plan, so they are working with utility providers to get low-carbon energy as the grid goes green in line with the UAE Net Zero by 2050 Strategic Initiative. Aldar will also collaborate with government organisations to put rules in place and help other construction companies go green too.
THE AREAS OF FOCUS FOR ALDAR’S NET ZERO PLAN
The company has identified eight areas of focus to reduce carbon emissions across its entire asset lifecycle.
1. Low carbon-design
Aldar will create a Sustainable Design Standard to promote the use of low-carbon materials and design for energy efficiency. This will also be paired with introducing a carbon price to incentivize low-carbon development.
2. Low-carbon supply chain
Aldar will work with its supply chain to encourage the use of low-carbon products, materials, and manufacturing processes. It will also make sustainability a bigger factor in choosing suppliers. This will include considering environmental performance in contracts, and buying materials that have Environmental Product Declarations.
3. Green Construction
Aldar is committed to reducing carbon emissions by focusing on the entire lifecycle of assets. This includes reducing waste with better material handling, using low-carbon methods at construction sites, and switching to electric power whenever possible. The company is already making strong progress within this area with new projects like its Yas Park Gate Residential Complex as an example.
4. Clean Energy
Aldar is committed to transitioning to clean energy sources, such as low-carbon energy, grid decarbonisation, and on-site clean energy generation, to reduce its carbon footprint.
5. Resource efficiency and management
Aldar is taking steps to reduce resource consumption and improve asset efficiency. They will do so by implementing energy and water conservation programmes and expanding retrofit projects across its portfolio.
6. Tenant Initiatives
Aldar will launch a tenant engagement programme to promote sustainable behaviours. This will include green leasing and retrofits to improve tenant environmental performance.
7. Circular Economy
Aldar is committed to reducing and recycling waste, sorting waste at source, and turning organic waste into compost on-site to keep waste out of landfills and increase greywater recycling. They will do this together with tenants and government entities.
8. Sustainable Acquisition
Aldar will integrate sustainability and Net Zero transition plans into its investment strategy, and expand its energy retrofit programme to include all newly acquired assets. This is already being seen with Aldar’s newly revealed The Sustainable City – Yas Island.
HOW ALDAR WILL REPORT THEIR PROGRESS
Aldar has created these goals to reduce greenhouse gas emissions that also align with climate science. The aims will then be validated by SBTi’s Expert Advisory Group for the construction sector during 2023. They will report progress on these goals every year and review them to make sure they are up to date. But they will also be open and honest about progress and any technical problems that occur.
