Middle East

United Arab Emirates Aldar reduces annual carbon emissions by 80,000 tonnes across assets

Aldar Properties has launched an energy management project for its entire portfolio, reducing energy consumption by approximately 20% across 80 assets including hotels, schools, commerce, leisure, retail and housing.

In addition to reducing energy emissions, this project will save Aldar about Dhs40m annual energy consumption costs.

The project aims to reduce Alder’s carbon emissions by 80,000 tons, electricity consumption by 110 GWh, water consumption by 886,000 m3, cold water consumption by 23,000,000 TRH and gas consumption by 726,000 cubic meters.

Greg Fewer, Chief Financial Officer of Aldar, said:

“In addition to the positive impact on the environment, such sustainability projects are also useful for businesses. This project can generate strong economic benefits from the time and effort invested in sustainability initiatives. It’s a clear example of what you can do. “

He added that Aldar is working with an established energy service company (ESCO) to help achieve significant reductions in energy emissions.

The company has awarded four ESCOs, including Siemens, Enova, ENGIE (with Tabreed) and Johnson Controls (with Alliance for Global Sustainability), five-year energy performance contracts.

Each ESCO is responsible for the building portfolio and grfnglobal is appointed as a project management consultant.

In the next phase of the project, ESCO will complete the retrofit project across all 80 assets, expected to be completed in the third quarter of 2022.

Upon successful completion of the ESCO, you must achieve a guaranteed energy savings of 5 years. Savings are measured and verified according to the guidance provided by the International Performance Measurement and Verification Protocol.

In other news, Aldar Properties has signed a deal with Diamond Developers to set up a JV for the development of the sustainable city of Yas Island.

read: Alder develops Dhs18bnThe Sustainable City – Yas Island project in Abu Dhabi

In related developments, the company recently raised its environmental, social and governance (ESG) ratings within the scope of two major global benchmarks, the Dow Jones Sustainability Index (DJSI) and Sustainability.

read more: Aldar holds a position within two global ESG benchmarks

https://gulfbusiness.com/uaes-aldar-to-reduce-carbon-emissions-by-80000-tons-annually-across-assets/ United Arab Emirates Aldar reduces annual carbon emissions by 80,000 tonnes across assets

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