DAE Releases its 2022 ESG Report
Dubai Aerospace Enterprise (DAE) has recently published its third annual ESG Report for the year ending December 31, 2022. The report highlights the company's sustainability commitments.
The report, prepared under the guidance of the GRI Standard, covers DAE Capital and DAE Engineering, with limited assurance provided by KPMG on certain metrics. The report, along with KPMG's independent assurance statement, can be accessed on the company's website.
Commenting on the report, Firoz Tarapore, Chief Executive Officer of DAE, stated, “DAE ended 2022 with a further strengthening of our ESG leadership and risk management position within our industry. Through additional engagement, disclosures, and incremental investments in the newest, greenest aircraft, we are making steady progress on our ESG ambitions."
In 2022, DAE achieved a significant milestone by having 50% of its owned aircraft equipped with fuel-efficient technology, three years earlier than planned. It also underwent a successful ESG Risk Rating review by Morningstar Sustainalytics and maintained its leadership position among rated industry peers with a score of 14.4. DAE received "ESG Industry Top Rated" and "ESG Regional Top Rated" accreditations from Sustainalytics for 2022. In addition, DAE signed the Aircraft Leasing Ireland Sustainability Charter.
Key highlights of the report include:
DAE's 2022 Scope 1 and Scope 2 (Market Based) GHG emissions rose to 3,896 tonnes of CO2 equivalent (2021: 2,722).
701 tonnes of CO2 equivalent in 2022 (2021: 239) was attributed to DAE Capital, all of which was Scope 2 in both periods.
DAE Capital has maintained a high level of gender diversity, with 40% of its employees being female.
DAE made voluntary disclosures through CDP and S&P Corporate Sustainability Assessment to enhance transparency and disclosure.
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