• Company made significant strides in decarbonisation of cooling throughout 2023
• Enrolled in DFM’s Carbon Credits Pilot and purchased Clean Energy Certificates

Abu Dhabi, United Arab Emirates – 6 June 2024: Tabreed, the world’s leading district cooling company, today publishes its fourth annual Environmental, Social and Governance (ESG) Report, covering the year 2023.

The comprehensive report details Tabreed’s overwhelmingly positive environmental impact during 2023, showing that its operations reduced overall energy consumption by 2.52 billion kWh – equivalent to powering more than 143,000 homes – which, in turn, prevented 1.5 million metric tons of CO2 emissions, which equates to removing 330,000 vehicles from our roads.

Renewable energy became a permanent fixture in the company’s operations last year. In partnership with ADNOC, Tabreed designed, built and commissioned G2COOL, the region’s first district cooling plant to be powered using renewable geothermal energy from deep underground. The plant plays an important new role in decarbonising the way buildings are cooled in Abu Dhabi’s Masdar City, while diversifying the country’s energy mix in support of the UAE National Energy Strategy 2050.

In a further renewable energy initiative, during 2023 Tabreed purchased 116,000 MWh of solar-sourced Clean Energy Certificates (CECs) from the Emirates Water and Electricity Company (EWEC), demonstrating its commitment to a diverse energy mix. These CECs are equivalent to the amount of energy required to cool prominent locations such as Masdar City, Raha Beach, and key attractions on Yas Island.

Also during 2023, Tabreed joined a highly anticipated carbon credits trading pilot by Dubai Financial Market (DFM), which saw 24 of the UAE’s most esteemed companies and developers taking part, including Dubai Electricity and Water Authority (DEWA), DP World, Dubai Municipality, Dubai International Financial Centre (DIFC), Emirates NBD and Majid Al Futtaim. The carbon credits traded on DFM were supplied by DEWA, First Abu Dhabi Bank and MyCarbon, coming from internationally certified carbon projects around the world.

Tabreed spent 2023 being increasingly active in the community, through a range of Corporate Social Responsibility (CSR) initiatives. For instance, assisting startups and young entrepreneurs working on climate solutions, the company sponsored and partnered with HUB71+ climateTECH and, during the Holy Month of Ramadan, Tabreed partnered with Emirates Red Crescent to provide many thousands of meals to underprivileged members of the community. Closer to home, in a move designed to improve the work/life balance for Tabreed’s staff, remote workday allowances were increased by 50% and a ‘personal hours’ policy was introduced.

“In short,” said Khalid Al Marzooqi, Tabreed’s CEO, “this incredible, visionary company spent 2023 reaffirming its reputation as an undeniable force for good. Good for our customers, our investors, our staff, our communities and our environment. I am immensely proud to lead Tabreed and look forward to even greater achievements in the years to come.”

View Tabreed’s 2023 ESG report in its entirety here.