SHUAA Capital PSC
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Net Zero by 2035 goal for real estate projects in the UK and UAE.
- Zero Plastic initiative using reusable bottles.
Social Achievements
- Children education assistance policy.
- Comprehensive medical insurance and health (including physical and mental) and wellbeing initiatives.
- Employee training and development.
- Grievance & misconduct policy.
- Diversity and inclusion initiatives resulting in 28% female representation among UAE-based employees.
Governance Achievements
- Established a function to coordinate SHUAA’s ESG efforts.
- Implemented Anti-Money Laundering (AML)/Know Your Customer (KYC) Policy.
- Implemented Financial Crime Policy.
- Implemented Ethical Wall Policy.
- Implemented Code of Ethics Policy.
- Implemented Conduct of Business Policy.
- Implemented Conflicts of Interest Policy.
- Implemented Gifts Policy.
- Implemented Personal Account Dealing Policy (PAD).
Climate Goals & Targets
Long-term Goals:
- Net Zero emissions by 2050 (UAE and UK real estate projects aim for Net Zero by 2035).
Environmental Challenges
- Rising inflation worldwide.
- Macro-economic implications of the Ukraine-Russia conflict.
- Significant debt obligations due for repayment in 2023.
Mitigation Strategies
- Deleveraging of the consolidated statement of financial position.
- Repayment of borrowings from projected cash inflows.
- Non-cash settlement of part of the borrowings.
- Refinancing options.
- Discussions with existing and new lenders for debt restructuring and refinancing.