Abu Dhabi-based property development company, Aldar Properties has launched its Net Zero Plan, with a commitment to becoming a Net Zero carbon business across its Scope 1, Scope 2, and Scope 3 greenhouse gas (GHG) emissions by 2050.
This move is in line with the goals of the Paris Agreement and the UAE Net Zero by 2050 Strategic Initiative.
The company said that it has also set science-aligned 2030 interim targets, which will see it achieve Net Zero in its Scope 1 and Scope 2 GHG emissions and deliver a 45 percent reduction in the intensity of its Scope 3 GHG emissions relative to the company’s 2021 baseline.
Aldar’s Net Zero Plan explains how it will achieve Net Zero in its direct emissions and the embodied carbon of all its developments and projects, as well as emissions associated with its supply chain and tenants.
“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. 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.”
According to the statement, “The nature of Aldar’s business as a developer and asset manager – with a diversified portfolio spanning retail, residential, commercial, hospitality, logistics, and schools – means Aldar is in a unique position to transform assets across their entire lifecycle, which is why it has taken a whole building approach and incorporated Scope 3 tenant-controlled emissions into its commitment.”
Partnerships and engagements will be fundamental to the success of Aldar’s Net Zero Plan. The Company will work extensively with suppliers to decarbonize materials and operational emissions while working with commercial tenants and owner associations to drive sustainable asset operation.