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Dubai-headquartered developer and mall operator Majid Al Futtaim has achieved 97 percent of the targets set out in its annual sustainability strategy last year despite the business and economic disruption brought about by the pandemic, according to latest Sustainability Report.
Key achievements on the energy front, according to a press statement by the company, include reducing the group’s carbon footprint by 9.2 percent, generating nearly 17 million kWh of renewable energy last year, with 63 percent generated through its shopping malls alone, and decreasing water usage by 17.5 percent across its operations.
In a global first, the company achieved LEED Platinum certification for its entire 13-property hotel portfolio.
Majid Al Futtaim is aiming to become net positive in carbon and water across all operations, tenants, and developments by 2040.
In its carbon reduction quest, the company has an ongoing partnership with the Dubai Carbon Centre of Excellence to operate carbon-neutral movie screening at its VOX Cinemas’ Drive-In. In the first three months of operation, the partnership offset 19.32 tonnes of CO2 equivalent for a total of 1,400 cars.
Circular economy strategy
Other 2020 highlights, the statement noted, included the launch of a circular economy strategy to reduce waste, and a Responsible Procurement Policy with minimum sustainability standards set out for suppliers.
“The launch of our circular economy strategy, which looks to tackle waste within the business and move towards a more circular business model by 2030, was a key 2020 milestone for us,” said Ibrahim Al-Zu’bi, Chief Sustainability Officer, Majid Al Futtaim – Holding.
For example, Carrefour Kenya worked with a local partner to recycle paper, plastic, metal, and organic waste. The partnership saw 92 percent of operational waste being recycled and over the year offset 581,221 kg of CO2 emissions, the equivalent to saving a forest area the size of 810 football pitches.
“Now, as we enter the final stretch before reaching our 2022 Sustainable Business Commitments, we will continue to futureproof our business, scaling up on our Net Positive efforts and embedding climate-related risk management to ensure our business resilience and reduce our impact on the environment,” Al-Zu’bi added.
The company had set an interim commitment to achieve 37 percent reduction in operational carbon and water footprints by 2022.
Thus, the company’s flagship mixed-use community in Dubai, Tilal Al Ghaf, has been designed with circular economy principles and developed to become a global benchmark which will be the first BREEAM certified community in Dubai.
In terms of future plans, Majid Al Futtaim is planning to set Science Based Targets (SBT), which will ensure its emissions-reduction targets are aligned with the latest science on what is needed to reach the goals of the Paris Climate Agreement.
(Writing by Anoop Menon; Editing by Seban Scaria)
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© ZAWYA 2021
