ABU DHABI, UAE, 7 March 2023: Tabreed said it has signed the UAE Ministry of Climate Change and Environment’s (MOCCAE) Climate-Responsible Companies Pledge. Making the announcement through a Press release, Tabreed said that the signing of the pledge is in line with its own broader commitment to achieving Net Zero.
On May 17, 2022, the MOCCAE launched the National Dialogue for Climate Ambition (NDCA), as a platform “to define and raise sectoral climate ambition and advance all-inclusive participation in the ‘UAE Net Zero by 2050 Strategic Initiative’ to meet the country’s international climate commitments, particularly the Paris Agreement”. Stakeholders include many sectors, such as manufacturing, construction, waste, transport, finance, energy and utilities providers.
Subsequently, the ninth session of the NDCA – and associated pledge signing – was held under the theme of ‘Decarbonising the Buildings Sector’, and featured keynote addresses by Her Excellency Mariam Al Mheiri, the Minister of Climate Change and Environment, and Talal Al Dhiyebi, Group CEO, Aldar Properties. Following the speeches, signatories of the pledge, including Khalid Al Marzooqi, CEO, Tabreed, assembled together on stage to mark the historic undertaking, Tabreed said in the Press release.
Sustainability, Tabreed said, is one of the key pillars it is built upon. The District Cooling provider, which is set to celebrate its 25th anniversary this year, added that its relentless pursuit of energy efficiency has resulted in the prevention of huge amounts of greenhouse gas (GHG) emissions.
Al Marzooqi said that signing the pledge is an obvious fit for the company, which has long been known as a champion of sustainability. “It is widely acknowledged that cooling buildings in this region is responsible for the majority of electricity consumption,” he said. “And while we are making enormous strides in generating power using renewable sources, it remains responsible for significant greenhouse gas emissions, so any way of reducing energy consumption has to be a positive. And that’s where District Cooling makes perfect sense, because it’s approximately 50% more energy efficient than conventional methods. Last year alone, Tabreed’s efficiencies prevented the release of nearly 1.4 million tons of CO2 into the atmosphere – that’s like removing 300,000 vehicles from the roads, and we do this year in, year out.”
He added that demand for cooling will increase as the UAE’s population and infrastructure continue to grow, making the case for District Cooling stronger than ever. “Without District Cooling, we simply could not progress as a society,” Al Marzooqi said. “But we need to approach this with sustainability in mind, which is why our business aligns so closely with the country’s wider Net Zero targets, and we have our own roadmap to become completely carbon neutral ourselves by 2050. We wholeheartedly thank and support the UAE’s Ministry of Climate Change and Environment, and signing this pledge is an outward demonstration of our commitment to do everything in our power to ensure a sustainable future for everyone, everywhere.”
Tabreed said that in a further show of its commitment to Net Zero, following the signing of the Climate-Responsible Companies Pledge, it participated in a landmark event hosted by low-carbon energy giant, ENGIE, at Louvre Abu Dhabi, titled: ‘E4 – Defining the Pathway to a Carbon Neutral Economy’.
Hosted for ENGIE’s key stakeholders to engage in dialogue on decarbonisation and the solutions that will help governments, companies and industries to achieve Net-Zero, the E4 event – a first for the Middle East – was attended by industry leaders from the UAE, the wider GCC region countries and from overseas, Tabreed said. The event helped showcase the well-documented benefits of District Cooling in dramatically reducing emissions related to power generation, and as one of Tabreed’s majority shareholders, ENGIE continues to add exceptional value to the company through its unrivalled expertise in global energy and sustainability matters, the District Cooling provider said.
During the E4 event, Dr Yousif Al Hammadi, Chief Asset Management Officer, Tabreed, delivered a presentation introducing the company to a diverse audience of dignitaries, government ministers and high-ranking officials, highlighting the company’s environmental credentials with results recently posted in its record Q4 2022 results.