ICD Brookfield Place, the region’s premier lifestyle and business destination with over 4 acres of dining, retail and community space, announced the next step in its ambitious sustainability strategy in s ‘committing to achieving net zero carbon emissions by 2030.
It is a joint venture between Investment Corporation of Dubai (ICD), the main investment arm of the Government of Dubai and Brookfield Asset Management, a leading global alternative asset manager with $725 billion in assets. under management in real estate, infrastructure, renewable energy and private equity. and credit.
The tallest office building to achieve Leed Platinum certification in EMEA in 2020, ICD Brookfield Place said its design provides an excellent foundation to monitor, control and reduce carbon emissions.
Additionally, on the path to achieving net zero carbon, ICD Brookfield Place plans to achieve carbon neutrality, he added.
The methodology for reaching net zero by 2030 will include the following:
• Quantifying carbon using the Greenhouse Gas Protocol and setting emissions targets using science-based approaches
• Identification and implementation of emission reduction measures
• Transition to net zero by offsetting residual emissions
• Engagement in the value chain and thought leadership
• Report annually against set objectives
A number of sustainable carbon emission reduction features and occupant well-being principles have been incorporated to achieve the highest level of the world’s most widely used green building rating system.
ICD Brookfield Place’s ambitious sustainability goals align with the United Nations Framework Convention on Climate Change (UNFCCC) Paris Agreement goals to keep global warming well below 2°C ( preferably 1.5°C) above pre-industrial levels.
Working alongside leading specialist consultancy AESG, ICD Brookfield Place’s goals include an ambitious commitment to rapidly accelerate the UAE’s transition to a net zero economy.
ICD Brookfield Place will work with tenants and suppliers to jointly address emissions and implement an innovative tenant engagement program to raise awareness, provide thought leadership and optimize their operational performance.
The resort hopes to lead by example and drive stakeholder participation in the UAE Net Zero initiative.
CEO Rob Devereux said, “Today’s announcement is the latest example of ICD Brookfield Place’s pursuit of a leading environmental, social and governance (ESG) program. Achieving net zero carbon emissions is an ambitious goal, which not only requires the dedication of our team but also our stakeholders throughout the value chain.”
“A net-zero carbon building is a smart choice for owners and occupants. In addition to minimizing energy costs as a low-carbon workplace, the building will go a long way in helping businesses achieve their own goals. reduction in their carbon footprint,” noted Devereux. .
Designed by Foster + Partners, the 1.1 million square foot office and retail complex offers 990,000 square feet of flexible workspace as well as 160,000 square feet of retail and restaurant space.
The building is home to some of the world’s largest multinational corporations, including Ernst & Young, Julius Baer, Latham & Watkins, and UBS. Property management is overseen by Brookfield Properties, one of the world’s leading real estate services companies.
“We all need to go net zero, and one of the crucial ways a business can reduce its footprint is through its real estate. We are determined to work together to go even further to help improve our environment and become a beacon for the sustainable future of the United Arab Emirates,” he added.
CEO Saeed Al Abbar said, “AESG was proud to work alongside ICD Brookfield Place as an advisory partner in its transition to net zero emissions. He continues to set new benchmarks in the region with his climate leadership in embracing ambitious sustainability goals and aspirations.
“Our team of experts remains focused on driving innovative approaches to help our customers accelerate their decarbonization journey,” noted Al Abbar.
“The findings of the IPCC report should remind us that now is the time to act. We hope that the example set by DCI Brookfield Place will inspire many other regions and sectors to take bold, meaningful steps to decarbonize the environment. built,” he added.
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