DAMAC Real Estate Development Limited Achieves Outstanding ESG Rating from Sustainalytics
Dubai, United Arab Emirates, 16 November 2023 - DAMAC Real Estate Development Limited (DAMAC) is delighted to announce its recent Environmental, Social, and Governance (ESG) Risk Rating of 18.3 points, as assessed by Sustainalytics, a globally recognised leader in ESG research, ratings, and data.
DAMAC's ESG Risk Rating of 18.3 points signifies a low overall ESG risk level, showcasing the company's commitment to managing and mitigating ESG-related risks effectively. Sustainalytics rates companies on a scale of 0 to 100, with lower scores indicating a lower level of unmanaged risk.
Sustainalytics, in their assessment, specifically acknowledged DAMAC's strong risk management practices in critical areas, including product governance, bribery and corruption, and occupational health and safety. The company achieved an impressive negligible risk rating (0-10, the lowest level of risk) in several crucial criteria, including emissions, effluents and waste, product governance, bribery and corruption, community relations, and occupational health and safety.
Hussain Sajwani, Chairman and Founder of DAMAC, said: "In alignment with the priorities of the government and Dubai Vision 2040, as well as the UAE's net-zero aim, we reaffirm DAMAC’s dedication to sustainability, reflecting our commitment to our investors, bankers and the larger community."
This favourable assessment underscores DAMAC's steadfast dedication to robust ESG practices across its operations.
The company's ongoing commitment to sustainability and responsible business practices will continue to drive its mission to create value for its stakeholders while positively impacting the environment and society.