Majid Al Futtaim launches its Net Positive strategy

Majid Al Futtaim launches its Net Positive strategy

 

Dubai, UAE, 2017-Apr-19 — /EPR Retail News/ — Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has today ( APRIL 18, 2017) launched its Net Positive strategy in the presence of Dr. Thani Ahmad Al Zeyoudi, Minister of Climate Change and Environment. The strategy aims to significantly reduce the company’s water consumption and carbon emissions to the extent that it puts more back into the environment than it takes out, resulting in a positive corporate footprint by 2040.

Dr. Thani Ahmad Al Zeyoudi, Minister of Climate Change and Environment commented: “Majid Al Futtaim’s Net Positive commitment is a landmark step in helping to create a more sustainable future for our region. The strategy is in line with the UAE Green Agenda and the UAE National Climate Change Plan to address solutions to pressing current and future environmental challenges. Collaboration with the private sector is key to realising our sustainability goals and promoting a shared responsibility for our environment.”

As part of its Net Positive strategy, Majid Al Futtaim will measure current carbon and water impact and implement measures to reduce it through projects focused on decreasing carbon emissions and water consumption at all its assets across the region. These projects will range from small scale energy efficiency measures and on-site renewable energy installations to on-site rainwater harvesting and grey water recycling. In the long term, Majid Al Futtaim will create positive impact by providing more accessible and better quality water to local communities where it has extracted water for business purposes.

Alain Bejjani, Chief Executive Officer at Majid Al Futtaim – Holding commented: “We see it as not only a moral imperative, but also a core responsibility to our stakeholders to set the standard for sustainable development in the region and to continually strive to become one of the most environmentally considerate companies in the world. We are delighted with the progress we have already made in this space but ultimately know our work will not be complete until we have reached a stage where we are giving more back to the environment than we take. It is for this reason why we have set ourselves the ambitious, while realistic target of becoming Net Positive in our carbon emissions and water consumption in less than 25 years. We are extremely proud to be the first company in the Middle East to commit to such a target and hope our action inspires others in the region follow suit.”

Ibrahim Al-Zu’bi, Head of Sustainability at Majid Al Futtaim – Holding said: “Our sustainability journey at Majid Al Futtaim started almost a decade ago and in that time, we have made incredible progress. Becoming Net Positive is the next ambitious goal that we have set and we are fully committed to achieving it by 2040. In doing so, we will help provide a framework to ensure the private sector becomes a force for good, further protecting our shared resources in a region that faces challenges around water scarcity and energy consumption. As always we are grateful for the continued support of the UAE government in helping us achieve our sustainability goals.”

The Net Positive movement was developed through the work of the Net Positive Group, a collaboration formed by Forum for the Future, The Climate Group and World Wildlife Fund (WWF). The group started a movement to encourage businesses to transform their sustainability ambitions from doing less harm to becoming Net Positive, and is led by multi-nationals such as Kingfisher, BT, Coca-Cola and Lego.

Source:  Majid Al Futtaim

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