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Abu Dhabi developer Aldar reported on Tuesday that it had recirculated billions of dirhams to the UAE economy and increased its Emirati and female workforce in 2021, highlighting its progress towards meeting the company's environmental, social and governance (ESG) goals.
In its latest sustainability report, the UAE-listed firm said it signed AED8.8 billion ($2.4 billion) worth of project contracts with UAE-based companies last year.
The deals were awarded through the national In-Country Value (ICV) programme, a UAE government initiative headed by the Ministry of Industry and Advanced Technology that seeks to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
Through the ICV programme, Aldar prioritises local contractors, consultants and suppliers, including small and medium-sized enterprises (SMEs).
The report, which highlights Aldar's sustainability strategy, also noted that the developer managed to increase the percentage of UAE nationals in its payroll to 35%, compared to 20% in 2020.
The proportion of women working at the company also jumped to 42%, compared to 31% in 2020.
Environment
As for the environment, the developer implemented some measures to lower energy consumption and carbon emissions.
The Group rolled out a retrofit project, said to be the largest of its kind in the country, to remove 80,000 tonnes of carbon emissions every year across the company's 80 hotels, schools and other commercial, leisure and residential assets.
The energy initiative is expected to reduce consumption by 20%, while the retrofit project is expected to save Aldar AED40 million a year in energy costs.
Last year, the company also built its first solar hybrid power plant at one of its construction sites and signed a clean energy agreement with Emirates Water and Electricity, to provide clean energy sources for up to five years.
(Reporting by Cleofe Maceda; editing by Seban Scaria )
