Sobha Realty Earns 91 in 2024 GRESB Assessment, Ranks Among Global ESG Leaders

The company features amongst top 4% of global entities striving for excellence in ESG Performance

By News Desk, November 27, 2024 UAE Sustainability

Sobha Realty Earns 91 in 2024 GRESB Assessment, Ranks Among Global ESG Leaders

Sobha Realty, a global luxury real estate developer, has significantly advanced its sustainability credentials by achieving a score of 91 in the 2024 GRESB (Global Real Estate Sustainability Benchmark) Assessment.

This marks a notable increase from its 2023 score of 72, positioning the company among the top 4% of global entities evaluated for ESG (Environmental, Social, and Governance) performance.

In the 2024 GRESB Development Benchmarking Assessment, Sobha Realty secured a development score of 65 out of 70, surpassing global and peer averages. Among 23 participants across 14 countries, the company ranked ninth, demonstrating its growing influence in the global sustainability landscape.

Francis Alfred, Managing Director of Sobha Realty, highlighted the company’s focus on sustainable development, stating, “Our progress in the GRESB assessment reflects our dedication to environmental sustainability and climate leadership. We aim to set new benchmarks in sustainable development that benefit our communities, stakeholders, and the planet.”

Sobha Realty’s accomplishments align with the UAE’s strategic sustainability initiatives, such as the UAE Net Zero by 2050 strategic initiative and the Green Agenda. The company has also released three ESG reports and conducted two Greenhouse Gas (GHG) assessments, forming the foundation of its emissions reduction strategy.

The developer’s commitment to transparent climate action is further emphasised by its Task Force on Climate-related Financial Disclosures (TCFD) report, which provides insights into climate change risks and governance strategies.

GRESB, a global ESG benchmarking platform, validated Sobha Realty’s performance through its rigorous evaluation process, underscoring the company’s adherence to high international standards.

Founded in 1976 by PNC Menon, Sobha Realty has evolved from an interior decoration firm in Oman to a multinational developer with projects across the UAE, Oman, and India. Its latest GRESB milestone solidifies its leadership in sustainable luxury development.

Sobha Realty GRESB 2024 ESG performance sustainability UAE Net Zero sustainable development sustainability climate change

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