ESG POLICY Environmental, Social and Governance Policy
Purpose of ADNEC Group ESG policy This ESG policy reflects ADNEC Group’s commitment to act as a responsible organization and illustrates the Group’s sustainability strategic priorities, goals and transformation agenda. This policy will integrate further ESG principles into decision-making processes and link to corporate performance and provide another platform to effectively mitigate ESG risks. It will be applied at group level and across the seven business clusters (venues, events, hotels, tourism, food and beverages, services, and media). Sustainability and ESG are managed by a designated department at group level and as per the document review and update process followed by this department, the ESG policy shall be periodically reviewed and updated accordingly.
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Roles and Responsibilities Governance and control As part of ADNEC Group’s continuous improvement process, the Group aims for best practice adoption and the implementation of global trends in corporate governance and compliance with its requirements.
Board of Directors
Oversee the company’s sustainability strategy and ESG related approaches and processes.
Executive committee
Ensures that all mechanisms necessary to implement decisions made by the members of ADNEC’s Board of Directors have been put in place. Furthermore, the Executive Committee sets ESG commitments and targets.
ESG Committee
Assists the Board and Group Executive Management in overseeing activities related to ESG matters, that include topics such as climate change impacts, energy and natural resources conservation, environmental and supply chain sustainability, human rights, diversity and inclusion, and other material ESG issues relevant to the Group. The Committee provides guidance to the Board and Group Executive Management on the matters and perform an oversight role in shaping and managing the Group’s ESG strategy and disclosures.
Sustainability Chief/Director ESG manager
Cluster ESG Champion
Responsible for sustainability and ESG adoption across the group and its clusters. Leading on all activities and initiatives as part of the group’s ESG journey. Responsible for strategies, policies, frameworks, initiatives and reporting and review. Responsible for developing and managing the Group’s overall environmental, social and corporate governance policies, procedures, and framework. The manager works closely with internal and external stakeholders to provide technical and business expertise on key issues related to ESG and sustainability risks and material topics, and in the design, preparation, implementation and management of ADNEC Group’s ESG strategy and disclosures taking into consideration best industry practices and standards. Works alongside the ESG Manager to ensure that their respective business cluster / subsidiary is aligned with the policy, procedures, framework and strategy defined at the Group level.
Awareness and Training The sustainability department at group level is responsible for ESG training and education through a series of workshops, meeting and knowledge sharing session in addition to training program as per international standards. ADNEC Group will provide its employees with annual training on the ESG policy to promote its commitment to responsible investing and ensure adherence.
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Our ESG Strategy ESG Pledge Priority 1
“Create long-term value for all our stakeholders through consciously ethical and sustainable practices across our group activities” Contributions to UAE Strategies UAE Energy Strategy 2050 UAE Net Zero 2050
National Employment Strategy 2031 UAE Green Agenda
UAE Centennial 2071
Focusing on the environmental impact of our business activities in order to protect the quality and prosperity of Abu Dhabi and the UAE’s nature and biodiversity.
Priority 3
Priority 4
Growing and Investing in Our Employees
Collaborating with Our Communities, Partners, and Suppliers
Safeguarding Our Assets and Values
Strengthening relationships, initiatives, and oversight across ADNEC Group’s value creation activities in order to align ESG goals and values throughout its supply chain.
Implementing best practice management systems to ensure the integrity and values of ADNEC Group are applied consistently and transparently throughout all its business activities and people.
Creating an engaging and purpose driven workplace culture that values the wellbeing and success of ADNEC Group’s employees and champions the same for all segments of the UAE’s demographics.
Material Issues 1.
GHG emissions
1.
Workforce wellbeing
1.
Customer relations
1.
Data security and integrity
2.
Community Initiatives
2.
Business ethics and values
3.
Corporate Governance
National Innovation Strategy
2.
Energy efficiency
2.
Work-life balance
3.
Food waste
3.
Gender Balance
Abu Dhabi Economic Vision 2030
4. Non-food waste
National Climate Change Plan
Environment Vision 2030
Protecting Our Land, Air, and Seas
Priority 2
5.
Sustainable materials
6.
Renewable Energy
4. Emiratisation
4. Business Continuity
Key M trics e
Contributions to UN SDGs
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1.
GHG emissions reduced.
1.
Employee engagement level.
1.
Economic impact (GVA).
2.
Energy Consumption Reduction.
2.
Diversity ratio.
2.
Total social & community investment.
3.
Total waste reduced.
3.
Emiratisation ratio.
1.
Number of major non-compliance incidents on corporate governance.
2.
Consolidated Group ESG Score.
ADNEC ESG Commitment and Transformation Agenda Priority Area
Protecting Our Land, Air, and Seas
Growing and Investing in Our Employees
Collaborating with Our Communities, Partners, and Suppliers
Safeguarding Our Assets and Values
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Material ESG Topics
What We Aspire to Achieve
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GHG Emissions & Carbon Footprint
1. Minimise (and offset where necessary) Scope 1, 2 and 3 emissions, and align to Net Zero Goals. To achieve 50% reduction 2030 and reach to NetZero by 2045.
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Energy Efficiency
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Renewable Energy
2. Optimise energy consumption to reduce negative consequences while creating immediate cost savings
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Food Waste
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Non-Food Waste
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Sustainable Materials
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Workforce Wellbeing
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Work-Life Balance
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Gender Balance
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Ethical Sourcing and Supply Chain Oversight
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Customer Relations
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Community Initiatives
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Data Security and Integrity
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Business Ethics and Values
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Business Continuity
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Corporate Governance
3. Reduce energy consumption for the same level of business by 5% YoY 4. Reduce food waste generation and achieve 0% food waste disposal to landfill by 2030 5. Reduce non-food waste generation and achieve 0% non-food waste disposal to landfill by 2030 6. Increase use of recycled material vs non recycled materials by 10% YoY 7. Promote a comprehensive approach to employee wellbeing to improve engagement, retention, and overall job satisfaction 8. Instill balanced working hours, and separation between personal and professional time; and achieve 0% resignations due to burnout 9. Grow the representation of women in senior leadership positions across ADNEC 10. Procure 100% of materials and services from suppliers that are complying with ESG standards (and based on a minimum ESG score) by 2027. 11. Deliver seamless and exceptional customer experiences across all business lines – with high level NPS and satisfaction scores 12. Move beyond cybersecurity, and develop and implement a group wide digital transformation strategy to make ADNEC more competitive, efficient and responsive 13. Continue being recognized in the industry and the country as an organisation that lives up to the highest business ethics and standards 14. Ensure ADNEC’s readiness to meet all future challenges and unforeseen events 15. Continue creating an open, transparent, and effective governance structure that creates trust and confidence with shareholders and investors
Thank You