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Majid Al Futtaim hits midway point of its five-year sustainability strategy achieving 56% of Sustainability Goals
 

2016 highlights:

  • AED8.9 million invested in the community
  • 13,228 hours of volunteering completed by employees
  • 319 hours dedicated to sustainability training
  • 12 Green Building Certified assets
  • Renewable energy targets announced
  • Labour standard policy implemented with zero on-site construction fatalities

Dubai, 08 June 2017:  Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has achieved 56% of its sustainability goals during 2016, hitting the midway point of its five-year sustainability strategy. Amongst its achievements, Majid Al Futtaim committed AED8.9 million in community investments, enabled dedicated 13,228 hours of volunteering to noble initiatives and announced its renewable energy targets.

The announcement of Majid Al Futtaim’s 2016 sustainability results coincides with World Environment Day (WED), the United Nations’ most important day for encouraging worldwide awareness and action for the protection of environment.

Majid Al Futtaim - Properties’ 2016 Sustainability Report, ‘Empowering Our People to Reach Our Goals’ provides a complete overview of the company’s sustainability achievements and challenges, and charts progress made against long-term (2018) targets set out in its sustainability strategy. The report reinforces Majid Al Futtaim’s commitment to enhancing people’s lives through sustainable real estate development and sets out ambitious goals to ensure that the company maintains its position as a sustainability leader in the region and worldwide. 

Robert Welanetz, Chief Executive Officer, Majid Al Futtaim – Properties, commented: “The success of the company’s five-year strategy establishes Majid Al Futtaim as a pioneer of sustainability in the MENA region. In 2016, our main goal was to empower our people to champion great causes and achieve new milestones on our sustainability journey. We remain committed to this region and the communities we serve, we continue to monitor socio-economic impact of our developments across the region and are confident that the dedicated efforts of our people will be key to solidifying our environmental footprint for years to come.”

Majid Al Futtaim - Properties’ sustainability strategy is based on developing and managing high performance assets that support prosperous communities, and in doing so deliver pioneering standards across its business. Its annual sustainability report measures the tangible benefits the company’s sustainability strategy is having on its stakeholders, the environment, and community at large.  

Ibrahim Al Zu’bi, Head of Sustainability, Majid Al Futtaim – Holding, said: “Sustainability is and will remain one of our key objectives. As the world continues to face a number of environmental challenges, we have a responsibility to our community as industry leaders to practice informed decision making and showcase examples for others in a position of power. By setting and exceeding international best practice standards, we establish new benchmarks across the MENA region and while, maintaining a healthy performance for our business and key stakeholders.

In 2016, Majid Al Futtaim became the first company in the MENA region to publicly commit to investing in renewable energy. The company announced plans to use solar photovoltaic technology to generate at least 5 percent of total energy across existing developments by 2018. The company also aims to source a minimum of 7.5 percent of energy across all new developments from solar energy. In the last three years, Majid Al Futtaim has reduced energy consumption by 9 percent across the 12 hotels in its portfolio. It expects to save another AED3 million by installing LED lighting at the 21 shopping malls across the region.

Majid Al Futtaim Properties continued to set the benchmark for sustainable development in the region, successfully implementing a labour policy for its construction workers, which set out commitments to safeguard worker rights across its developments, including timely pay, annual leave and labour accommodation. Majid Al Futtaim – Properties’ aims to influence best practice on the treatment of workers; 123 healthy and safety audits were conducted and construction sites were announced fatality free during 2016. 

As part of its commitment to develop prosperous and inclusive communities that promote well-being and engagement, Majid Al Futtaim – Properties invested AED 8.9 million in community causes across the region. Majid Al Futtaim employees committed 13,228 hours to volunteering based on a programme which encourages employees to take one paid day off work to help in areas such as working with children, supporting homeless people and helping with environmental projects. Employees also received 319 hours dedicated to sustainability training in 2016 across the MENA region. An executive leadership sustainability training for the CEOs of each business, along with Majid Al Futtaim – Holding CEO and Chief Human Capital Officer was undertaken.

Majid Al Futtaim – Properties’ also achieved 343 green star rating across its existing assets, reduced energy intensity for malls by 12% and water use intensity for hotels by 4% since 2014. Leading by example, Majid Al Futtaim’s head office in Dubai achieved a recycling rate of 69%.

Over the past few years Majid Al Futtaim – Properties’ has significantly invested in developing assets which comply with green building standards. By the close of 2016, the company had a 12 Green Building Certified assets. In addition, My City Centre Al Barsha achieved LEED Platinum, the highest standard, and Hilton Garden Inn Dubai, Mall of the Emirates became the first property within Majid Al Futtaim hotel portfolio to obtain a LEED Gold certificate, while, Al Zahia mixed use development in Sharjah also obtained the first BREEAM Communities interim certificate in the MENA region. The company also established its Green Star tenant awards programme to recognise tenants who have made bold strides towards sustainability.


Posted by : Dubai PR Network Editorial Team
Viewed 10474 times
PR Category : Banking & Investments
Posted on : Thursday, June 8, 2017  3:18:00 PM UAE local time (GMT+4)
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