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Aldar 2021 Sustainability Report

COMMITTING TO A SUSTAINABLE FUTURE

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MAKING PROGRESS

Our 2021 Sustainability Report focuses on sharing our commitment to a sustainable future and the progress we are making in creating it.

OUR PURPOSE AND STRATEGY

At Aldar, we are here to shape a better future, and sustainability goes right to the heart of this purpose- it runs through our corporate culture and business strategy.

LOOKING FORWARD

We need to manage our growth to maintain the strong sustainable value we provide to all stakeholders. We will meet this challenge by continuing to move sustainability into the mainstream of our operations from 2023-2026; and then using this to push forward as an international leader in sustainable real estate.
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OUR SUSTAINABILITY JOURNEY

Beginning in 2018 we have embarked on an ambitious sustainability journey out to 2050, with clearly defined short, medium and long-term ambitions.
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2021 AT A GLANCE

2021 saw some major improvements to our strategy and performance around sustainability. These included a commitment to Net Zero and working on our Action Plan for implementation, improving our Sustainalytics ranking to 9th of 107 real estate companies globally, and greatly strengthening our environmental data collection and collation processes.
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OUR PROGRESS

MAKING PROGRESS ACROSS OUR SUSTAINABILITY PILLARS
We made progress across all four of our sustainability pillars. Key highlights include:

ENVIRONMENT

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BASELINE
Setting the environmental footprint baseline for our decarbonisation journey
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ENERGY CONSUMPTION

Target for the energy management retrofit project launched

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PEOPLE

0 %
UAE Nationals in our corporate workforce, up from 29% in 2020
0 %
Women in our workforce, up from 31% in 2020
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COMMUNITY

AED 0 m
Aldar investment on 2021 CSR initiatives
0
Community Living Index components analysed across all our communities
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ECONOMY

0 %
Customer satisfaction score, up from 82% in 2020
AED 0 bn
Amount recirculated to the local economy through the National ICV Programme
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LOOKING FORWARD

LONG TERM­­­­ - 2026+

DRIVING FORWARD AS A MARKET LEADER IN SUSTAINABLE REAL ESTATE

Goals:

  1. Stretching performance measures, e.g. on:
    • Embodied carbon
    • Materials
    • Social value creation and quantification
    • Internet of Things (IoT) monitoring (enhancing placemaking through intelligent places fostering meaningful human outcomes, supported by our DigitalTwin initiatives)
  2. Achieving performance against credible Net Zero interim targets as a sector leader, tying to UAE national targets
  3. Pivoting towards new market demands (demand for sustainable real estate)

MEDIUM TERM - ­­­­ 2023-2026

MAKING SUSTAINABILITY MAINSTREAM

Goals:

  1. Launching the most challenging sustainability initiatives:
    • Net Zero-aligned design guide
    • Net Zero development pilots
    • Procurement of low-carbon providers
    • Marketing and sales strategy for sustainable buildings
  2. Recognising the need to align with expectations of global leaders in real estate on ESG performance and disclosures, such as: – Independent validation of our emissions reduction targets by the Science Based Targets initiative (SBTi)
  3. Deliver specific enabling actions to change behaviour and drive transformation at scale, such as: – Targeted capacity building to fill technical competency gaps around sustainability

SHORT TERM - 2022

BUILDING FOUNDATIONS UNDER OUR NEW OPERATING MODEL

Goals:

  1. Finalise a full carbon, water, and waste data baseline (including scope 3 tenants’ emissions) to establish current performance as a starting point for Net Zero measurement:
  2. Plan Net Zero pilot projects across business segments to complete our understanding of core technical and commercial considerations for Net Zero-aligned growth
  3. Begin delivery of quick-win sustainability initiatives e.g., predictive maintenance, on-site greywater treatment & reuse
  4. Commence a sustainability capacity-building programme with Aldar leadership
  5. Design and begin delivery of government and supply chain engagement programmes for sustainability

OUR SUSTAINABILITY
JOURNEY

2021
AT A GLANCE

COMMITTING TO NET ZERO

We took a key step forward on our sustainability journey by committing to Net Zero and working on our Action Plan to achieve it in line with climate science.

We are going beyond our carbon neutrality pledge to align with the UAE’s Net Zero by 2050 commitment. We are currently finalising the data baseline and are on track to launch our Net Zero Action Plan.

GOOD GOVERNANCE, ACCOUNTABILITY AND TRANSPARENCY

Reflecting our stronger governance and publishing of 17 ESG-related policies, we improved our ESG ratings.

Dow Jones Sustainability Index score

Sustainalytics ESG risk assessment

We ranked 9th globally among 107 real estate companies.

FOCUSING ON DATA QUALITY

Through 2021, we prioritised data quality to close gaps identified in data collection and strengthen our capabilities and processes.

  • Hired sustainability managers across Aldar and embedded sustainability performance KPIs.
  • Unified and streamlined the fragmented data across our diverse Group.
  • Launched our Sustainability Data Management System.
  • Trained 500+ users, including suppliers and contractors.
  • Moving forward, we will create working committees across the business to streamline data collection systems, methodologies, and embed outcomes into the workstreams of every department.

ENVIRONMENT

4,342,542 m3

water consumption from the audited portfolio in 2021

631,540 MWh

energy consumption from the audited portfolio in 2021

1,932,952 tCO2e

(Scope 1,2,3) GHG emissions in 2021 for our decarbonisation journey

PEOPLE

GENDER PAY RATIO

TOTAL HEADCOUNT

TOTAL HEADCOUNT

COMMUNITY

Scores from our Community Living Index

Our Community Living Index is helping to guide us in building genuinely liveable communities. Now that we can measure feedback from our residents systematically, we are making evidence-based choices around what to prioritise.
These scores will shape our focus and give us a framework for improving our communities and helping them to thrive.

ECONOMY

0 bn (AED)
2021 Full Year Revenue
+2% YoY
0 %
positive feedback ratings for this refresher training
0 +
suppliers trained and surveyed on sustainability
0 %
of contracts awarded to In-Country Value (ICV) suppliers
We achieved sustained growth in 2021, driven by the highest-ever yearly sales for our development business and steady recurring income growth for our investment business. This included reaching a record AED 6.0 billion revenue backlog, enhancing our future revenue visibility and predictability. Our strong financial performance fuels the acceleration of our growth, helping us create the foundation for a sustainable future and invest in resource-intensive transition to Net Zero.