Aldar, the UAE's biggest listed property company, has signed an agreement with Emirates Water and Electricity Company (Ewec) to power all of its owned and managed assets with clean energy sources for up to five years, as part of efforts to reduce its carbon footprint.
The clean power will be supplied to Aldar’s assets from Ewec’s clean energy sources. These will be validated through Clean Energy Certificates registered by Ewec, a scheme that was launched by the Abu Dhabi Department of Energy to enable companies in the emirate to validate claims of producing and consuming renewable or clean electricity, Aldar said in a statement on Monday.
"There has never been a time more critical for the corporate community to acknowledge the impact that real estate assets have on the environment," said Greg Fewer, Aldar's chief financial officer.
"Buildings account for 37 per cent of today's global CO2 emissions when both operational emissions and embodied emissions of materials are taken into account. It is evident that sustainable buildings are one of the most effective means of tackling this global challenge."
The move is part of Aldar's wider sustainability goals. Last week, the company launched a portfolio-wide energy management project to reduce its energy consumption by about 20 per cent across 80 assets including hotels, schools, commercial, leisure, retail and residential buildings. Besides reducing energy emissions, the project will allow Aldar to save about Dh40 million ($10.8m) a year in energy consumption costs.
Earlier this month, Aldar said it increased its ESG ratings within two major global benchmarks, the Dow Jones Sustainability Index (DJSI) and Sustainalytics. It also maintained its BB rating in the 2021 Morgan Stanley Consumer Index (MSCI), which tracks exposure to ESG risks and how well companies manage those risks relative to peers.
Currently, Scope 2 emissions, which are related to the purchase of electricity from the grid, are the biggest source of greenhouse gas emissions at Aldar’s real estate assets. The new agreement with Ewec will reduce those emissions and support decarbonisation across the company’s portfolio, Aldar said.
“We are really excited to see key Abu Dhabi companies such as Aldar taking the lead on reaching zero carbon by certifying the origin of the power consumed from the grid through the clean energy certificate scheme, joining other major energy, industrial, healthcare and commercial entities taking positive action to reduce carbon emissions," said Francois Brice, commercial executive director at Ewec.
Aldar's sustainability initiatives are in line with the UAE's efforts to promote a green economy. The UAE is committed to reaching net-zero emissions by 2050, making it the first country in the Middle East and North Africa region to do so. By 2050, the Emirates will invest Dh600 billion in clean and renewable energy sources.
The Arab world’s second-largest economy is developing several clean energy projects to achieve its sustainability goals by 2050. It is constructing the Barakah Nuclear Energy Plant, the Arab world’s first multi-unit operating nuclear energy plant.
The country is also building renewable energy projects to boost the supply of clean energy, including the world’s largest solar plant in Al Dhafra region of Abu Dhabi. The 2-gigawatt plant is expected to be fully operational this year.
Dubai is developing the 5-gigawatt Mohammed bin Rashid Solar Park as part of its strategy to cut emissions.
In 2023, the UAE will become the first Gulf Arab nation to host the Cop summit.
CHATGPT%20ENTERPRISE%20FEATURES
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
RESULTS
5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).
5.30pm: Maiden (PA) Dh80,000 1,400m
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.
6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.
7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.
7.30pm: Maiden (TB) Dh80,000 1,600m
Winner: Dubai Canal, Harry Bentley, Satish Seemar.
Profile of MoneyFellows
Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
MATCH INFO
England 19 (Try: Tuilagi; Cons: Farrell; Pens: Ford (4)
New Zealand 7 (Try: Savea; Con: Mo'unga)
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
COMPANY%20PROFILE
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SPEC%20SHEET
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
The biog
Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."
Favourite author: Malcom Gladwell
Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
