Emaar Properties

Emaar Properties achieved its target to reduce scope 2 emissions by 5% by 2021 compared to 2019. Since the target date is in the past, the target could not be assessed in terms of alignment of the company’s ambition with its 1.5 pathway. The company does not have any current emissions reduction targets. Failure to set up ambitious emissions reduction targets indicates a lack of commitment and planning supporting the transition to a low-carbon future. Emaar Properties should set long-term as well as regularly spaced intermediate targets aligned with its 1.5°C pathway and disclose the relevant data to allow the evaluation of its progress.

While Emaar Properties has made some progress in reducing its carbon emissions and reliance on fossil fuels, it has not yet developed a specific transition plan for achieving net-zero emissions. The company has also not provided financial details or incentives related to climate change management. There is no evidence that the board has adequate climate expertise. A lack of expertise at the board or equivalent level could be a barrier to the successful management of the low-carbon transition. Additionally, the company’s reports did not mention any climate change scenario analysis or financial aspects of its low-carbon transition.

Emaar Properties was involved in the development and update of structural design guidelines for Dubai and conducted several design reviews which resulted in significant material savings. The company invested in 3D printing technology and worked on a high-rise modular buildings system that could reduce the environmental impact of the construction process. However, the company neither disclosed its investments in the R&D of climate change mitigation technologies nor its total research and development (R&D) investments. R&D expenditure on low-carbon materials, energies and technologies will be essential for Emaar Properties to develop a low-carbon portfolio.

Emaar Properties has a supplier code of conduct that includes environmental responsibilities for its supply chain partners and all suppliers are contractually obliged to adhere to it. However, there is no indication that the company has integrated emissions reduction into its engagement with suppliers. Suppliers are not required to publicly report their greenhouse gas emissions and emissions reduction is not a factor in the selection or contract renewal of suppliers.

Emaar Properties does not have any emissions reduction targets aside from its intention to align with the UAE’s Net Zero 2050 initiative and UAE Green Agenda 2015-2030. The company is in the process of setting short- and long-term targets related to the environment, society and governance.

The company does not have a low-carbon transition plan and there is no evidence it intends to develop one in the near future. It has not disclosed financial details or incentives related to climate change management.

Emaar Properties is increasing the percentage of solar energy capacity and deploying efficient district cooling services which led to scope 2 emissions reductions in 2021. The company has obtained energy performance certificates based on the ISO standards for its assets and is exploring ways to reduce materials used in construction such as 3D concrete printing and modular building techniques.

The company does not disclose sufficient emissions data or the floor area of the buildings managed and developed, therefore neither the emissions intensity trend in the recent past nor the company’s embodied emissions could be assessed.

Emaar Properties is working towards LEED certification for several buildings, exploring technologies and materials to increase the resilience of its developments against climate change and aiming to reduce its reliance on fossil fuels. However, the company lacks a strategy and action plan.

Although Emaar Properties discloses that it continuously communicates and engages with its stakeholders, no evidence was found of the company’s commitment to social dialogue or of the categories of stakeholders the company engages with on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders.

No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

Although Emaar Properties discloses that it will invest in growing its core capabilities through active talent recruitment, no public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s action to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks.

The company discloses the actions it takes to provide training opportunities for workers and affected stakeholders. For instance, the company discloses that it offers training and development to its employees and provides online skills programme for students. However, no relevant disclosure was found of the company embedding equality of opportunity for women and vulnerable groups in these actions. Furthermore, no evidence was found of the company having a process for identifying skills gaps for workers and affected stakeholders or a public commitment to help workers displaced by the transition to re- or up-skill.

No relevant disclosure was found to show if Emaar Properties identifies impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.

No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

No policies or commitments of Emaar Properties related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain.

No evidence of Emaar Properties’ policies or commitments related to key decent work issues were found in the public domain. These issues include the provision of secure, safe and healthy workplaces, where workers are fairly renumerated and have a meaningful say in decision-making.

No policies or commitments of Emaar Properties related to key ethical business topics – personal data protection, tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes ensuring ethical business conduct throughout its operations and in its relationships with business partners.