Aldar Joins SBTi’s Advisory Group on Net Zero Target for Real Estate
SBTi is a partnership between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Now Aldar Properties has joined the Science Based Targets initiative (SBTi)’s Expert Advisory Group, making it the first Middle Eastern company to advise SBTi on science-based net-zero target-setting for real estate and construction companies around the world.
More than 3,000 companies across the world are working with SBTi to reduce emissions and support the Paris Agreement’s goals.
SBTi seeks to help companies reduce emissions in the real economy by encouraging science-based targeting.
The methodologies developed by the buildings project advisory group will be approved by CDP, UNGC, WRI and WWF before being made available to all SBTi stakeholders at no additional cost to support their alignment with the Paris Agreement goals.
The advisory boards of SBTi are made up of a diverse group of academics, consultancies, multi-national organisations, institutions and companies.
Group Chief Financial and Sustainability Officer at Aldar, Greg Fewer, said: “We are delighted to have been invited to join SBTi’s Expert Advisory Group, a demonstration of Aldar’s commitment to sustainability and a recognition of the pioneering role we have played in setting ESG standards.
"The need to put into place reliable and unified reporting standards and measures is becoming more urgent as investors, lenders and rating agencies request a higher degree of access to non-financial corporate metrics.”