Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Building Practices

Environmental Achievements

• Reduced embodied carbon emissions by 1,692 tCO2e in the Distribution Centre project compared to a baseline scenario. This is equivalent to the carbon sequestration of 6,107 trees.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Accurately accounting for embodied carbon across all building materials and construction processes.

Mitigation Strategies

• Developed a carbon accounting calculator to track embodied carbon associated with each development. Used LCA documents and databases (ICE Database v3, Environdec & Ecoinvent Database) for carbon emission values and material quantities.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Use of FSC certified timber, concrete with GGBS, and steel with recycled content.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: EN 15978:2011, ISO 14040:2006, ISO 14025

Certifications: FSC (Forest Stewardship Council), PEFC (Programme for Endorsement of Forest Certification)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced refrigerant consumption
• Reduced energy consumption
• Reduced water consumption
• Reduced Greenhouse Gas Emissions (Scope 1, 2, and 3)

Social Achievements

• ESG initiative to reduce printed paper proposed and adopted by employees
• Sustainability training rolled out to frontline staff
• Climate risk assessment conducted

Governance Achievements

• Established several communication channels to facilitate participation in the identification and response to sustainability issues
• Published new policies for 2021 including occupational health and safety, diversity and inclusion, and environmental management system

Climate Goals & Targets

Environmental Challenges

• Inconsistency in the provision and reporting of environmental data
• Conflicting sources of evidence and data reporting
• Incomplete evidence provision

Mitigation Strategies

• Recommended further training for data providers
• Recommended a formal and consistent folder structure for data
• Recommended that evidence provided be the data source of what has been reported and files be checked for completeness and accuracy

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, UNGC, UN SDGs, TCFD

Third-party Assurance: Upstream Sustainability Services, JLL

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Impact
• Economic Inclusion
• Diversity & Inclusion
• Employee Wellbeing
• Circular Economy
• Governance

Environmental Achievements

• 11% reduction in market-based Scope 1 and 2 emissions compared to 2019 baseline
• 51 million kWh of renewable energy generated in 2022
• 54 green certified Majid Al Futtaim assets
• Mall of the Emirates achieved LEED EBOM Platinum certification
• 94% green star applicable tenancies rated 3-star or above
• 60% reduction in Tilal Al Ghaf’s office annual carbon footprint
• Phased-out single-use plastic bags across 6 countries in Majid Al Futtaim - Retail
• Installed and signed 16 million kWh of renewable energy and Power Purchase Agreements (PPAs) in 2022

Social Achievements

• 20,000 employee engagements during Wellness Week
• +20,930 frontline employees completed sustainability training
• EGP 650,000 provided by Carrefour Egypt to establish three classrooms for female students
• 233 Egyptians graduated from the Almaza Recruitment and Training Centre with an 81% job placement rate
• 70 stores rolled-out the Merge Interpreter Sign Language platform
• 14 start-ups chosen through the Launchpad Programme (50% run by female entrepreneurs)
• 60 people of determination and their families welcomed to enjoy a ski experience
• 700 Emiratis recruited through the NAFIS programme
• Carrefour Egypt partnered with UNICEF to upskill 200 vulnerable youth

Governance Achievements

• US$1.25 billion second Sustainability-Linked Loan signed
• Top-rated regional and industry ESG company by Sustainalytics and Moody’s
• Science-based targets developed for Operating Companies
• Gold level TRUE zero-waste certification awarded to Majid Al Futtaim Tower 2
• Launched Diversity and Inclusion Policy
• Increased women in senior management positions to 20%

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Issued a Sustainable Procurement Policy and Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: LEED, TRUE zero-waste

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• First BIO store opened at City Centre Me’aisem

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Rethinking Resources
• Transforming Lives
• Empowering Our People

Environmental Achievements

• Expanded green-certified portfolio to 54 assets
• Set science-based carbon reduction targets
• Installed and signed 16 million kWh of renewable energy in 2022
• Phased-out single-use plastic bags across six countries in Majid Al Futtaim – Retail
• World’s first hotel portfolio to receive LEED Platinum certification
• Secured BREEAM Excellent Communities certification for Tilal Al Ghaf

Social Achievements

• 80% of products sold in the UAE sourced locally in 2022
• Supported the growth of start-ups and SMEs through Launchpad Programme (14 winners in 2022, 50% run by female entrepreneurs)
• Recruited 700 Emiratis through the NAFIS programme and 233 Egyptians graduated from ARTC with an 81% job placement rate
• Women account for 20% of senior management
• Expanded representation of people of determination
• Sustainability training for over 20,930 frontline employees in 2022

Governance Achievements

• Top-rated regional and industry ESG company by Sustainalytics’ ESG Risk Ratings and top of emerging countries by Moody’s in 2022
• US$1.5 billion Sustainability-Linked Loan (SLL) signed in 2021 (first in the region)
• ESG KPIs linked to executive performance rating and bonus

Climate Goals & Targets

Environmental Challenges

• Rapid transformations driven by technological advancements, shifting stakeholder needs and expectations, and growing environmental concerns
• Urbanisation and population growth driving demand for sustainable infrastructure
• Social and political instability negatively impacting markets and supply chains
• Climate risks in MENA region (rising temperatures, water stress, extreme weather events)

Mitigation Strategies

• Developing a long-term sustainability strategy (Dare Today, Change Tomorrow)
• Enhanced monitoring and reporting against Sustainable Business Commitments (SBCs)
• Risk mitigation approach to monitor and manage internal and external risks
• Continuous engagement with stakeholders

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• Sustainable Procurement

Climate-Related Risks & Opportunities

Physical Risks

• Rising temperatures
• Water stress
• Extreme weather events

Reporting Standards

Frameworks Used: TCFD, TNFD, World Economic Forum’s Stakeholder Capitalism Metrics

Certifications: LEED, BREEAM, ISO 45001

Third-party Assurance: Independent third-party auditor