ABU DHABI – Abu Dhabi Future Energy Company PJSC (Masdar) revealed the launch of its yearly Sustainability Report, consisting of a substantial development of its tidy energy potential and ensuing affect on carbon dioxide evasion, along with put together for growth by way of an enthusiastic lasting bond program.
Masdar expanded its tidy energy profile and complicated pipe of tidy energy potential to 31.5 GW in 2023, produced larger than 26,700 GWh of tidy energy and prevented 14 million tonnes of CO2e, up from 10 million tonnes the earlier yr. This is the matching of eliminating virtually 870,000 vehicles and vans from the roadway.
The Sustainability Report, which covers Masdar’s worldwide procedures for 2023, highlights the launch of the enterprise’s roadmap to a US$ 3 billion Green Bond providing on the London Stock Exchange to open monetary funding in renewable useful resource around the globe.
With appreciable duties began in 2023, Masdar’s increasing profile significantly enhanced its worldwide sustainability affect.
Milestone duties in brand-new and current markets consisting of Indonesia, Saudi Arabia, the UAE, Egypt and Azerbaijan got here on-line or have been approved proper into association.
Al Dhafra Solar PV, the globe’s greatest single-site photo voltaic power plant, was inaugurated within the UAE, and the nation’s preliminary wind job was contributed to the nationwide energy grid, and Southeast Asia’s greatest drifting photo voltaic plant, the 145MW Cirata plant, got here on-line.
Mohamed Jameel Al Ramahi Chief Executive Officer, Masdar, said, “As Masdar’s most present sustainability report highlights, 2023 was an important yr as we superior a course of unmatched growth, boosting our worldwide tidy energy potential by larger than half. Leveraging the ability of our buyers, we bought in brand-new markets, originated tidy energy choices, and performed a necessary obligation in sustaining the UAE’s surroundings exercise administration.
This web site report moreover showcases our regular dedication to putting in strong Environmental, Social and Governance (ESG) methods all through each part of our organisation, consisting of by way of our industry-leading eco-friendly bonds marketing campaign that has truly attained the best ESG {qualifications}.”
Masdar’s Sustainability Report moreover data the enterprise’s rating of two and entity score of 71 from among the many main sustainability rating firms Sustainable Fitch, mirroring Masdar’s nice ESG effectivity and the eco-friendly nature of its possessions.
In 2023, Masdar ended up being the preliminary EMEA enterprise to get the Sustainability PurePlayer Label for companies whose group is focused on ecological improvements.
Showcasing Masdar’s sustainability success in its preliminary yr beneath a brand-new shareholding framework combining UAE energy titans TAQA, ADNOC and Mubadala, Masdar’s 2023 Sustainability Report gives clear proof of the nation’s dedication to surroundings exercise and Masdar’s obligation as a significant enabler of the UAE’s energy shift.
Milestones described within the report maintain the tripling of worldwide renewable useful resource potential as part of the UAE Consensus gotten to at COP28, and the report highlights Masdar’s important depiction of the UAE on the worldwide part to progress the ability shift.
To- day, Masdar has truly established and partnered in duties in larger than 40 nations all through 6 continents, with a transparent required to boost its renewable useful resource profile potential to 100GW by 2030.
