21 June 2022

UDC Issues Its Report on Environmental, Social And Corporate Governance For Qatar Stock Exchange

Local
  • UDC
  • UDC
  • UDC
  • UDC

Doha, June 21 (QNA) - United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl and Gewan Islands, has recently issued its Environmental, Social, and Governance Report (ESG) to Qatar Stock Exchange, making it the first listed real estate company in Qatar to officially disclose its sustainability and environmental strategies and achievements.
UDCs business practices are closely aligned with the wider goals of sustainable economic and social development that the State of Qatar has set forth in its vision for 2030, as evidenced by the attention given to incorporate sustainable development programmes into the Companys business decisions and practices.
The company's environment and sustainability focus areas therefore cover the appropriate management and recycling of waste through use of the ENVAC smart waste disposal system and active recycling measures, in addition to environmentally friendly processes and packaging through the banned usage of non-biodegradable plastic bags, as well as the optimization of energy consumption in all UDC operated and managed projects and developments, including the use of environmentally friendly technologies, such as district cooling supplied by UDC subsidiary Qatar Cool.
Since the inauguration of Qatar Cools district cooling plant on The Pearl Island in 2010, the environmental impact has significantly contributed to UDCs commitment to sustainability on the Island. To date the cooling plant has saved over 1.7 billion KWH in energy, in turn removing over 950 million KG of CO2 from the atmosphere, since 2010. If converted, the CO2 reduction is the same as removing over 182 thousand cars from our roads or planting over 11 million mature trees, which would populate over 32 thousand football grounds.
Regular training, events and awareness campaigns promoting activities to reduce environmental impacts and use of natural resources, are also designed to highlight environmental issues and initiatives to employees and community members. In this context, UDC and its subsidiaries are currently certified for their Integrated Management System Policy as well as Environmental Management System (ISO 14001:2015) which ensure the consistent qualitative assessment of operational risks and impacts related to the environment.
UDC further targets to be at the forefront of modern transportation in Qatar by transitioning 50 percent of its transportation fleet from gasoline to electric vehicles, promoting micro-mobility modes such as usage of water taxis, e-scooters and bikes on dedicated lanes, in addition to providing more electric car charging outlets around The Pearl Island. (QNA)

Keywords

Economy, Qatar
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