Malls in the UAE can take many steps to become more sustainable, Khalifa bin Braik, the chief executive officer of asset management at Majid Al Futtaim said.
The first steps to take towards a greener future are using sustainable materials for building and design, followed by using energy and water conservation techniques and investing in renewable energy, Mr Braik told Arabian Business.
Sustainability is not just about impacting the environment in a better way. It also makes business sense, he said.
Retailers can reduce their environmental footprint, operate in a socially responsible manner, and generate real cost savings while increasing efficiency and strengthening brand equity by incorporating sustainable practices.
“Businesses also have an opportunity to cater to the growing market segment of conscious consumers who are mindful of the impacts of their purchasing habits, while educating their wider customer base on sustainability consumption practices.”
Incorporating sustainable practices also allows retailers to safeguard themselves from regulatory requirements and changing consumer preferences.
The UAE government is prioritising sustainability.
It is also hosting the COP28 in November this year, where clean energy and carbon mitigation technologies will take centre stage.
Retailers can make use of a supportive government to enhance their sustainability goals, added Mr Braik.
“As the host of COP28 later this year, the UAE continues to establish itself as a natural regional and international convener to lead the essential mission of mobilising global efforts to combat climate change, reduce carbon emissions, and keep the 1.5°Celsius goal alive.”
To reach its own sustainability goals, Majid Al Futtaim opened a 6.2 megawatt-peak solar power plant at its mall in Bahrain.
It is the country’s largest solar power plant, MAF said.
The project was developed through a solar power purchase agreement, signed between Majid Al Futtaim and Yellow Door Energy. More than 11,500 solar panels have been installed on the roof of The Bahrain Mall, spanning more than 40,000 square meters.
MAF has joined the World Green Building Council, an organisation which promotes sustainability-focused practices in the building and construction industry.
The retailer is adopting Green Building Principles proposed by the WGBC, to reduce carbon emissions and landfill waste, improve energy and water efficiency and prioritising safer materials.
“We are also closely following the development of science-based targets for nature, given the significant role nature-based solutions play in providing cost-efficient solutions for the achievement of our targets and beyond. Such frameworks add credibility to our Net Positive pathways by ensuring we are aligned with the latest climate science whilst providing reassurance to our stakeholders.”
