DAE Publishes Its 2021 ESG Report

Dubai Aerospace Enterprise (DAE) Ltd introduced the publication of its second annual Environmental, Social, and Governance (“ESG”) Report, for the yr ended December 31, 2021. The report consists of each DAE Capital and DAE Engineering, marking the primary absolutely consolidated report on DAE’s environmental, social, and governance disclosures. The ESG report is ready below the steering of the International Reporting Initiative (GRI) Commonplace. Restricted Assurance has been offered by KPMG on sure metrics reported inside DAE’s ESG Report. KPMG’s unbiased assurance assertion is out there inside the ESG Report.

Commenting on the report, Firoz Tarapore, Chief Government Officer of DAE, said, “We proceed to work with our stakeholders to make sure that our reporting and disclosures are related and clear, and to additional embed ESG threat administration into the vernacular throughout the Firm. Our sense of duty and dedication to ESG management within the plane leasing neighborhood is unwavering. The actions we’re persevering with to take make sure that we’re intently aligned with our shareholders, traders, workers, and different stakeholders within the ever-accelerating transition to a really decarbonized financial system.

We’re persevering with to see a rising pattern amongst our clients and traders who acknowledge their duties in decarbonization efforts, and we’re deploying our capital in ways in which help these developments.”

On this ESG Report, we underpin our alignment to the Paris Local weather Accords, the UAE Internet-Zero by 2050 Strategic Initiative, and the Fly Internet Zero pledge to attain net-zero emissions by 2050.

2021 Efficiency

• We obtained our inaugural ESG Danger Score of 14.1 from Sustainalytics and have been awarded ‘ESG Trade High Rated’ and ‘ESG Regional High Rated’ accreditations from Sustainalytics for 2021;
• We revealed our ESG Coverage and Stakeholder Engagement Coverage on the Governance Part of our web site to supply further transparency to key stakeholders;
• DAE achieved 11 of the 12 2021 KPIs that the Firm set when publishing its inaugural report, opting to delay coverage introduction on carbon offsetting to 2022 to permit for added session with workers and journey companions.

Environmental Stewardship

• Our Scope 1 and Scope 2 GHG emissions amounted to 1,504 tons of CO₂ equal in 2021 (2020: 1,281), of which 170 tons of CO₂ equal in 2021 (2020: 77) have been attributable to DAE Capital, all of which have been Scope 2 in each intervals. We migrated to an exterior carbon emissions monitoring instrument to make sure that we’ve a extra correct understanding of our fleet’s gross emissions;
• We revealed our sustainable electrical energy framework to help our migration to inexperienced power consumption throughout our international footprint;
• We grew our proportion of next-generation, fuel-efficient plane in our fleet to 39%.

Social Accountability

• We maintained industry-leading gender range amongst all ranges of DAE Capital, with over 40% of DAE Capital’s workers being feminine, and 44% of DAE’s Management Group being feminine;
• We continued to help rising market restoration and improvement, with 56% of our fleet on lease to airways primarily based in rising markets at year-end 2021;
• We absolutely applied a revised Technical Provider Coverage, which incorporates auditing key social components, to boost our assessment, appraisal, and efficiency analysis.

Governance Excellence

• We added exterior EthicsPoint Hotline entry to make sure that each inner and exterior stakeholders have a number of avenues to deal with any governance, compliance, or moral considerations;
• We absolutely built-in DAE Engineering into ESG Assessments, to supply larger transparency and disclosures round DAE’s complete firm emissions;
• We accomplished a worldwide improve of IT infrastructure, rising safety and efficiency for our workers.

Working Collectively In the direction of Internet Zero by 2050

• We have now affirmed our dedication to supporting the Fly Internet Zero pledge made by the airline {industry} to attain net-zero carbon emissions by 2050, as authorized by IATA at its October 2021 AGM;
• We proceed to spend money on new know-how plane, deploying an extra US$1.1 billion of capital throughout our owned and managed portfolios to accumulate new plane that help our clients’ ongoing fleet transitions to lower-carbon applied sciences.