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Green Sukuk is evidence of the direction we have decided to take, says Majid Al Futtaim

The Sukuk shows the appetite and the awareness of the global investor community, says Ibrahim Al Zu’bi, Chief Sustainability Officer, Majid Al Futtaim

| | Jul 3, 2019 | 5:39 pm
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Dubai, UAE, 3 July 2019: Sustainability is at the heart of everything we do at Majid Al Futtaim, and we believe that issuing the Green Sukuk is evidence of the direction we have decided to take, said Ibrahim Al Zu’bi, Chief Sustainability Officer, Majid Al Futtaim. The Sukuk, he added, is important to the company from a regional perspective, and it shows the appetite and the awareness of the global investor community.

Elaborating on the contribution of the Green Sukuk to green energy and to sustainable water management in the region, Al Zu’bi pointed to the company’s 2014 sustainable building policy, which he said is a part of the day-to-day business of the company. “This means that any new build must be LEED Gold,” he said. In addition, Majid Al Futtaim is the only company in the region that has a policy on renewable energy.

Al Zu’bi said being net-positive is the new advanced concept of sustainability. “Being net positive, in simple words, means to give more than you take, so this is what we have done,” he said. “We have measured the impact and have found out the environmental impact in carbon, in energy and in water.”

Elaborating on the benefits the Green Sukuk is likely to bring to its investors and to the environment, he said that the Sukuk will enable the company to show investors that we can help you make money while also helping the environment. We have approximately six plants, and we have already begun working on the on-site generation of renewables, he said, adding, “We recently signed an off-site generation plant in Jordan.”


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