Masdar doubles clean energy capacity over 2 years

Masdar released its 2020 Annual Sustainability Report that revealed it more than doubled its clean energy capacity over two years to generate enough electricity to power over four million homes.

The capacity of the renewable energy projects that Masdar is a partner in has risen to over 10.7 GW in 2020 from 4 GW in 2019, with the company’s global operating clean energy portfolio displacing close to 6.5 million metric tons of CO2 annually.

The report spans the entire scope and scale of Masdar’s operations in the UAE and overseas and has been prepared in accordance with Global Reporting Initiative (GRI) Standards: Core Option. It discloses Masdar’s impact in 2020, amidst the pandemic, examining KPIs across operational and environmental impact, social contribution, human capital, and governance.

“Masdar’s mission, since we launched in 2006, has been to put the UAE on a path to a sustainable, diversified economy, and we have grown to become an integral part of the UAE’s efforts to shape the climate change conversation globally. We have always led by example, in communicating the importance of sustainability, and last year was no exception. Our 2020 Annual Sustainability Report provides more information about our own ESG philosophy and offers greater insight into our activities and achievements in the past year,” said Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar.

Top takeaways from the report, include:

• Over 6.5 million tons of CO2 displaced by clean energy portfolio during reporting period
• 11,000 GWh+ energy produced from clean energy sources during reporting period
• 561 (kgCO2/m²) consolidated embodied carbon intensity for Masdar-owned real estate assets
• 100,000+ m² approximate gross floor area added to Masdar City

“When we published our first report dedicated to sustainability in 2012, the topic was rarely discussed in corporate boardrooms in the region, and indeed around the world. I am delighted to see that since then, Environmental, Social and Governance (ESG) reporting has moved from the exception to the rule for enterprises and businesses, and across diverse industries and sectors,” he added.

In spite of the pandemic, Masdar continued to make considerable progress on its business objectives, as a sustainability pioneer, and crucially while responding to COVID-19 and ensuring the health and safety of its staff, tenants, and partners across all Masdar’s entities. The year saw Masdar consolidate its leadership position in sustainable urban development and expand its footprint across the entire spectrum - from energy storage solutions, mobility and transport, green hydrogen and other essential parts of the wider clean energy value chain.