TAQA Announces 2030 ESG Strategy
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, Middle East and Africa region by market capitalisation, announced a comprehensive 2030 Environmental, Social and Governance (ESG) strategy.
The ESG strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals and is a credible step towards achieving its net-zero ambitions by 2050.
Under the strategy, TAQA has committed to a 25% reduction of scope 1 and 2 emissions by 2030 across the Group, including a 33% reduction of UAE portfolio emissions compared to the 2019 baseline.
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, said: “We see sustainability as an opportunity and are evolving to become a champion of low carbon power and water.
"That means meeting the energy and water needs of today as efficiently as possible, whilst also investing in the lower carbon alternatives we need."
TAQA will focus on the decarbonisation of power and water supply, further electrification across sectors, and demand side management to support more efficient use of power and water.
The broader ESG strategy was built around six core material topics: climate change, water and effluents, occupational health and safety, diversity and equal opportunity, local community engagement and corporate governance.
TAQA aims to achieve both quantitative and qualitative ambitions across these focus areas through several new and existing initiatives.