Majid Al Futtaim Receives ‘Green Star’ Rating for 9th Consecutive Year

The company also achieved a full score for integrating ESG best practises into management processes encompassing leadership, risk management, reporting, and stakeholder engagement.

According to GRESB’s latest assessment and testament to the company’s commitment to delivering on its environmental targets, Majid Al Futtaim achieved scores of 97 and 85 for its standing development and investment portfolios, respectively, the report stated.

The Company outperformed peers on many topics, including energy efficiency, and performed particularly well in social and governance areas.

Ahmed Galal Ismail, Chief Executive Officer, Majid Al Futtaim – Properties, said: "Effective benchmarking is a critical element in our sustainability commitment and ensures Majid Al Futtaim continually identifies areas for improvement and remains an industry leader in this important space."

He went on to say that receiving the 'Green Star' designation from the Global Real Estate Sustainability Benchmark is a testament to their bold vision, strategic management, and dedicated team of people.

According to the report, through their collective efforts, they continue to improve performance and seize new opportunities to improve the quality of life for people across markets while protecting their ecosystem and preserving natural resources.

According to GRESB, Majid Al Futtaim's Properties portfolio increased by nine points this year to 97, earning a Five Green Star rating and placing second out of 11 companies.

A statement in the report said, "The latest accolade follows a long-term trend of solid sustainability performance, with the company’s recent 2021 ESG report revealing Majid Al Futtaim generated 21.4 M kWh of renewable energy, achieved 45 LEED, BREEAM, or equivalent certified assets, and realised a 3.6% reduction in Scope 1 and 2 emissions across the company, among other things."

The report concludes that at the heart of Majid Al Futtaim’s sustainability strategy is the "Dare Today, Change Tomorrow" roadmap to address material risks and opportunities, ensuring the company manages the issues that matter most to its stakeholders while responding effectively to the ESG issues that impact operations.

By Sumita Pawar