Dubai PR Network, Online Press Release from Dubai and Middle East
Business, Banking and Investments(Banking & Investments)
Filter PR by
DAE Publishes its 2021 ESG Report
Dubai, UAE - 28 April 2022 – Dubai Aerospace Enterprise (DAE) Ltd today announces the publication of its second annual Environmental, Social, and Governance (“ESG”) Report, for the year ended December 31, 2021. The report includes both DAE Capital and DAE Engineering, marking the first fully consolidated report on DAE’s environmental, social, and governance disclosures. The ESG Report is prepared under the guidance of the Global Reporting Initiative (GRI) Standard. Limited Assurance has been provided by KPMG on certain metrics reported within DAE’s ESG Report. KPMG’s independent assurance statement is available within the ESG Report. The report can be found here, or on the ESG section of our website.
Commenting on the report, Firoz Tarapore, Chief Executive Officer of DAE, stated, “We continue to work with our stakeholders to ensure that our reporting and disclosures are relevant and transparent, and to further embed ESG risk management into the vernacular across the Company. Our sense of responsibility and commitment to ESG leadership in the aircraft leasing community is unwavering. The actions we are continuing to take ensure that we are closely aligned with our shareholder, investors, employees, and other stakeholders in the ever-accelerating transition to a truly decarbonized economy.
We are continuing to see a growing trend among our customers and investors who recognize their responsibilities in decarbonization efforts, and we are deploying our capital in ways that support these developments.”
In this ESG Report, we underpin our alignment to the Paris Climate Accords, the UAE Net Zero by 2050 Strategic Initiative, and the Fly Net Zero pledge to achieve net-zero emissions by 2050.
2021 Performance
• We received our inaugural ESG Risk Rating of 14.1 from Sustainalytics, and were awarded ‘ESG Industry Top Rated’ and ‘ESG Regional Top Rated’ accreditations from Sustainalytics for 2021
• We published our ESG Policy and Stakeholder Engagement Policy on the Governance Section of our website in order to provide additional transparency to key stakeholders
• DAE achieved 11 of the 12 2021 KPIs that the Company set when publishing its inaugural report, opting to delay policy introduction on carbon offsetting to 2022 to allow for additional consultation with employees and travel partners
Environmental Stewardship
• Our Scope 1 and Scope 2 GHG emissions amounted to 1,504 tons of CO2 equivalent in 2021 (2020: 1,281), of which 170 tons of CO2 equivalent in 2021 (2020: 77) was attributable to DAE Capital, all of which was Scope 2 in both periods. We migrated to an external carbon emissions monitoring tool to ensure that we have a more accurate understanding of our fleet’s gross emissions
• We published our sustainable electricity framework to support our migration to green energy consumption across our global footprint
• We grew our proportion of next-generation, fuel-efficient aircraft in our fleet to 39%
Social Responsibility
• We maintained industry leading gender diversity among all levels of DAE Capital, with over 40% of DAE Capital’s employees being female, and 44% of DAE’s Leadership Team being female
• We continued to support emerging market recovery and development, with 56% of our fleet on lease to airlines based in emerging markets at year-end 2021
• We fully implemented a revised Technical Supplier Policy, which includes auditing key social factors, to enhance our review, appraisal, and performance evaluation,
Governance Excellence
• We added external EthicsPoint Hotline access to ensure that both internal and external stakeholders have multiple avenues to address any governance, compliance, or ethics concerns
• We fully integrated DAE Engineering into ESG Assessments, to provide greater transparency and disclosures around DAE’s whole company emissions
• We completed a global upgrade of IT infrastructure, increasing security and performance for our employees
Working Together Towards Net Zero by 2050
• We have affirmed our commitment to supporting the Fly Net Zero pledge made by the airline industry to achieve net zero carbon emissions by 2050, as approved by IATA at its October 2021 AGM
• We continue to invest in new-technology aircraft, deploying a further US$1.1 billion of capital across our owned and managed portfolios to acquire new aircraft that support our customers’ ongoing fleet transitions to lower carbon technologies

Posted by : Editorial Team
Viewed 6314 times
PR Category : Banking & Investments
Posted on : Friday, April 29, 2022  10:18:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : LG Announces First-Quarter 2022 Financial Results
Next Story : Emirati Dates Company Empowers Craft Women of the UAE this E...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Danube Home Signs Franchise Partnership with Hyvec Group to Enter Mauritius Market [5715-Views]
Experience a New Full-Board Summer Staycation at Lapita, Dubai Parks and Resorts [4920-Views]
Malabar Gold & Diamonds Associates with Nitol Niloy Group to Expand Operations into Bangla... [4875-Views]
Rock & Fly Jewelleries from Akillis [4670-Views]
Samsung Launches the Neo QLED 8K TV across Qatar, Kuwait, Oman and Bahrain [4047-Views]
Dubai Customs Holds Awareness & Entertainment Activities during DSS 2022 [4030-Views]
Look Your Sustainable Best This Summer with Springfield's Spring/Summer Collection [3579-Views]
Ahood Alenezi Is Announced as the Face of Djula [3448-Views]
Arab Bank Group Profits Grow by 38% to $252 Million for the First Half of 2022 [3235-Views]
Learn, Laugh and Play at Modesh World This Summer [3202-Views]
Chalo BurJuman Mall, Chalo Maldives [2743-Views]
How Sony is Transforming the Art and Technology of Listening [2722-Views]
Introducing fisio: Your Partnerin Recovery [2644-Views]
Fromage Friday at Le Gourmet in Galeries Lafayette [2554-Views]
Nucleus Research Positions Infor as a Leader in its 2022 Enterprise ERP and SMB ERP Techno... [2452-Views]
Jaguar Land Rover Prepares for Advanced Electrified and Connected Future with New Testing ... [2427-Views]
GCC Hospitality Industry to Witness Steady Growth after Sharp Post Pandemic Recovery, says... [2419-Views]
Al-Futtaim Automotive Reveals Strong H1 Results, Reflecting Continuing Rebound for Automot... [2403-Views]
Dubai Customs Discusses Furthering Trade Cooperation with South Korea [2312-Views]
June Air Cargo: Stable and Resilient [2288-Views]
Panasonic's New High-Performance Blender is Perfect for Making Your Summer Refreshingly He... [2251-Views]
LG Announces Second-Quarter 2022 Financial Results' [2230-Views]
Amlak Finance Announces H1 2022 Financial Results [2230-Views]
Etihad Airways Scales Up its Cargo Operations with Airbus New Generation A350F Freighter [2152-Views]
Emirates Steel Arkan Announces Q2 2022 Results [2144-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories