Majid Al Futtaim Properties concludes second annual energy conference
- United Arab Emirates: Wednesday, October 31 - 2012 at 14:38
- PRESS RELEASE
Majid Al Futtaim Properties, the leader in ownership, development and management of shopping malls together with hotels and communities in the Middle East and North Africa (MENA), has successfully completed its second annual energy conference, which was held for its employees, sister companies and suppliers, at the Pullman Hotel, earlier this month.
For the second year running, the event provided a roundup on Majid Al Futtaim Properties' CSR achievements and spurred discussions on best practice, priorities and trends to reduce impact on the environment.
Majid Al Futtaim Properties' CO2 footprint across its mall portfolio has dropped by 7% in 2011, from the same period in 2010. In 2012, Energy Management Services (EMS) conducted energy audits on 18 Majid Al Futtaim Properties projects, including 10 malls, 6 hotels and 2 office towers. Based on this information, the company is targeting a 15% reduction in both energy and water consumption for 2013.
Energy reduction efforts across the company's shopping mall portfolio have resulted in a 9 per cent usage decrease and Dhs24,551,741 in savings, while water consumption was reduced by 6 percent, which resulted in an additional Dhs2,170,317 of savings for the company.
Majid Al Futtaim Properties' hotel portfolio demonstrated an accumulated savings of 15% in energy consumption; and an 18% reduction in water consumption from 2010 to Q3 2012, which equates to savings of around Dhs3.5m. The company's CSR investment across its hotel portfolio has jumped from Dhs2.7m in 2011 to Dhs11.8m in 2012, with an investment rate of return reaching 53%.
In another initiative to demonstrate its sector leadership, Majid Al Futtaim Properties introduced the 'Tenants CSR Award'. The award entails setting industry standards for both Majid Al Futtaim Properties and its tenants to reduce environmental footprint. The award will take place in the company's 2013 Tenants Annual General Meetings, and will be based on Majid Al Futtaim Properties' Green Star Rating for Sustainable Retail Fit-out and will also evaluate the CSR activities held by the tenants.
Peter Walichnowski, Chief Executive Officer, Majid Al Futtaim Properties commented, "As the sole member of the GRESB in the Middle East, Majid Al Futtaim Properties is the first in the UAE to disclose its energy consumption and efficiency investments. Adding to our record of firsts, we work closely with the Dubai Carbon Centre of Excellence (DCCE) to become the region's first retail company to register in the United Nation's Clean Development Mechanism (CDM) under the United Nations' Kyoto Protocol. The registration will allow Majid Al Futtaim Properties to monetise its carbon emission reductions through converting the emissions across its portfolio into carbon credit certificates that are sellable at market value throughout the next ten years."
"We take social responsibility very seriously and we regard it as an integral part of our long-term success and prosperity. Our annual energy conference provides us with a vibrant platform for interactive thought exchange that will help us shape strategies and translate them into actionable initiatives for a sustainable green future," added Mr Walichnowski.
Majid Al Futtaim Properties' shopping Malls have been designed to Leadership in Energy and Environmental Design (LEED) standards, with Mirdif City Centre achieving the LEED Gold standards and Fujairah City Centre certified as LEED Silver.
Majid Al Futtaim Properties' hotel portfolio has been recognised with a variety of green accreditations. The 'Earth Check Silver' certificate was extended to Novotel and Ibis hotels at Deira City Centre; Novotel and Ibis Hotels at Mall of the Emirates; and the Pullman Hotel at the Mall of the Emirates. Additionally, the Pullman Deira City Centre Hotel received the 'Earth Check Bronze'. Further accolades include the 2011 Dubai Green Tourism Award, which was granted to Novotel and Ibis hotels at Deira City Centre, for the 4-star hotel category, and to Ibis Al Rigga, which was ranked third for the 2-star hotel category. In 2011, the 'Green Hotelier of the Year' was awarded to Kempinski Mall of the Emirates' Director of Engineering.
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