The i-RECs were redeemed through International REC (I-REC) Foundation, ensuring transparency and accreditation.

Coinciding with the UAE’s ‘Year of Sustainability, FIVE has become the first and only hotels in the UAE to obtain the International Renewable Energy Certificates (I-REC) to achieve 100% renewable electricity for 2022. 

These Certificates were received from the Mohammed bin Rashid Al Maktoum Solar Park, which Dubai Electricity and Water Authority P.J.S.C (DEWA) is implementing. The solar park is the largest single-site solar park in the world, using the Independent Power Producer (IPP) model. It will have a production capacity of 5,000MW by 2030 with a total investment of AED 50 billion.

FIVE’s single delivery I-REC agreement was subsequently verified through the International Renewable Energy Certification Foundation (I-REC), the global leader in standardized renewable energy schemes and sustainability claims.

FIVE’s latest achievement of tapping into future-focused solutions for Sustainable Development distinguishes its unwavering commitment to Sustainable Hospitality. 

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) said, "I congratulate FIVE on becoming the first and only hotel in the UAE to obtain the International Renewable Energy Certification Foundation (I-REC) to achieve 100% renewable electricity for 2022. FIVE's commitment to sustainability is a role model for other businesses in the UAE and around the world at all levels.”

HE Al Tayer added, "At DEWA, we promote sustainability and the shift towards a sustainable green economy by increasing the share of renewable and clean energy within Dubai’s energy mix. The current production capacity of the Mohammed bin Rashid Al Maktoum Solar Park, whichh DEWA is implementing, is 2,327MW using photovoltaic solar panels and Concentrated Solar Power (CSP) technologies. This is about 15.7% of the total production capacity of energy in Dubai. We continue our efforts to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power capacity from clean energy sources by 2050."

Continuing the cutting-edge of trailblazing luxury and entertainment in harmony with social and environmental responsibility, FIVE aims to inspire the world through its innovative platform dubbed, in classic FIVE Flair, ‘Sustainable Indulgence’.

As the only hotels in the UAE to purchase i-RECs from DEWA to achieve 100% solar powered electricity for its hotels, FIVE demonstrates the potential of working with stakeholders to spark innovation on the path towards decarbonization. This achievement propels FIVE’s Sustainability Objective of Vibrant Communities and Partnerships to ‘Innovate to address social and environmental challenges’.

FIVE’s Future-Focused Vision
In 2022, FIVE achieved colossal carbon use intensity reduction of 76.2% (MtCO2e/AED mn), electricity consumed per capita by 35.3% (kWh/cover) and water use intensity by 36.2% (litres/cover) compared to 2020 baseline. In relentless pursuit of continual improvement, FIVE will seek to increase its energy and environmental efficiencies while lowering its carbon footprint through ambitious action plans including a commitment to setting Science Based Targets (SBTi) in line with a 1.5°C scenario by 2025. The company is a signatory to the UN Global Compact, a member of the Global Sustainable Tourism Council (GSTC) and continuing to expand its participation in key environmental and social alliances through a global community engagement.

Kabir Mulchandani, Chairman and Founder, FIVE comments on FIVE’s stellar achievement, “Ahead of COP28, FIVE's electric milestone demonstrates the power of collaborative innovation when two future-focused changemakers (FIVE and DEWA) come together in pursuit of Sustainable Development. 

As the first hotel group in the UAE to receive 100% renewable electricity from DEWA, we share a great honor amidst this historic 'Year of Sustainability.'

I hope that this achievement sets an example on how conviction in vision and commitment to action can create a reality where we continue to dream audaciously, build creatively, and pursue life vigorously within a world that moves closer to climate revitalization.

ABOUT FIVE HOTELS AND RESORTS
FIVE Hotels and Resorts, which includes the hottest destinations in Dubai - the unrivalled FIVE Palm Jumeirah and the uber-cool FIVE Jumeirah Village, for a discerning group of travellers looking for an unrivalled luxury vacation experience that encompasses the iconic Beach by FIVE, Dubai’s most Insta-Famous social pool and a chic penthouse lifestyle with 269 pools and Jacuzzis. Switzerland’s ultimate dining and nightlife hotspot, FIVE Zurich showcases 45 luxurious suites and 42 suite sized lifestyle rooms with glittering skyline city views or lush forest views. Additionally, 62 'Amazing Rooms' welcome guests to the Vibe at FIVE in Europe. FIVE's first international outpost hosts multiple international award-winning restaurants, a rooftop nightclub and buzzing outdoor social pool. Guests may detox before they retox at the lavish wellness spa with indoor pool and hot tub.  Slated to open in A trailblazer of sustainable luxury living and hospitality, FIVE has secured a completely LEED Platinum hospitality portfolio across its hotels in Dubai and Zurich. FIVE Palm Jumeirah and FIVE Jumeirah Village hotels in Dubai are also the first hotels to ever receive UL Verified SPIRE Smart Buildings™ Ratings awarded by UL Solutions, a global leader in applied safety science. FIVE illustrates its commitment to making ‘Sustainability without Compromise on Luxury Living’ central to its future vision and FIVE LUXE, JBR is already on track to acquire LEED Platinum (BD+C).

ABOUT LEED 
LEED (Leadership in Energy and Environmental Design) is the most widely used green building rating system in the world. Available for virtually all building types, LEED provides a framework for healthy, efficient, and cost-saving green buildings. LEED certification is a globally recognized symbol of sustainability achievement and leadership. The LEED framework informs all building types including new construction, interiors, operations and maintenance, and core and shell.

ABOUT GSTC
The Global Sustainable Tourism Council® (GSTC) establishes and manages global standards for sustainable travel and tourism, known as the GSTC Criteria. They are the result of a worldwide effort to develop a common language about sustainability in tourism. They are arranged in four pillars: (A) Sustainable management; (B) Socioeconomic impacts; (C) Cultural impacts; and (D) Environmental impacts. 

ABOUT UNGC
As the world’s largest corporate sustainability initiative, the United Nations Global Compact (UNGC) is a strategic and voluntary initiative based on CEO commitments that supports global companies that are committed to responsible business practices in the areas of human rights, labor, the environment, and corruption. UNGC provides a principle-based framework, best practices, resources and networking events that have revolutionized how companies do business responsibly and keep commitments to society. 

ABOUT SBTi
The Science Based Targets initiative (SBTi) drives ambitious climate action in the private sector by enabling organizations to set science-based emissions reduction targets. Science-based targets show organizations how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change. As a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), the SBTi call to action is one of the We Mean Business Coalition commitments.

About UL Solutions
A global leader in applied safety science, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection and certification services, together with software products and advisory offerings, that support our customers’ product innovation and business growth. The UL Certification Marks serve as a recognized symbol of trust in our customers’ products and reflect an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage.

About SPIRE Smart Building Program
The SPIRE Smart Building Program, the world's first objective assessment and rating program for smart buildings, was created in a partnership between the Telecommunications Industry Association (TIA) and UL Solutions. The SPIRE Smart Building Program provides an assessment of connected technologies within buildings, delivering insights, benchmarks and roadmaps to help lower costs, mitigate risks, create brand differentiation and enhance overall asset value. SPIRE also provides a structured means to assess the outcomes of design for and adoption of smart building technologies.

About I-REC
The International REC Standard Foundation (I-REC Standard) is a non-profit organization that provides a robust standard for developing attribute tracking systems. The I-REC Standard is acknowledged by major reporting frameworks such as the Greenhouse Gas Protocol (GHGP), CDP, and RE100 as a reliable backbone for credible and auditable tracking instruments. It ensures the highest quality systems and adherence to best practices designed to avoid double counting, double certificate issuance, and double attribute claims.