Dubai-based port operator DP World has achieved an impressive 50% reduction in carbon emissions from its UAE operations this year, primarily through a strategic shift to renewable power supplied by the Dubai Electricity and Water Authority (DEWA).
DEWA has issued over 200,000 International Renewable Energy Certificates (I-RECs) to DP World in 2023, certifying that the electricity consumed is sourced from renewable origins, each certificate equivalent to 1 megawatt-hour of electricity.
These I-RECs originate from the Mohammed bin Rashid Al Maktoum Solar Park, powering DP World’s UAE operations, including Jebel Ali Port, Jebel Ali Free Zone (JAFZA), and Drydocks World, all of which are now fully reliant on renewable energy.
This transition places DP World significantly ahead of the UAE’s national target of a 42% reduction in carbon emissions by 2030.
Maha AlQattan, DP World’s Group Sustainability Officer, affirmed the company’s dedication to global climate change initiatives, emphasizing investments in zero-carbon technology and responsible business practices.
DP World’s commitment to decarbonization aligns with its broader strategy to achieve carbon neutrality by 2040 and net-zero status by 2050, consistent with the UAE’s 2050 net-zero initiative.
Decarbonization is a central focus for DP World, a key player in global supply chain solutions. The company has already made strides in reducing carbon emissions, such as electrifying terminals in Rotterdam and Jebel Ali and introducing biodiesel in its Southampton port in the UK.
In 2022, DP World reported a 5% reduction in global carbon emissions and a 4% decrease in energy consumption. The company’s proactive stance was further underscored by joining the Green Shipping Challenge at COP 27 and committing up to $500 million to reduce CO2 emissions by nearly 700,000 tonnes over the next five years.
Additionally, DP World formed a strategic partnership with the Maersk McKinney Moller Center for Zero Carbon Shipping in 2022 and joined the UN Global Compact’s Think Lab on Just Transition.
Highlighting its commitment to sustainable financing, DP World raised $1.5 billion through a Green Sukuk in the previous month to bolster its decarbonization initiatives. The Sukuk, oversubscribed 2.3 times due to robust demand, is listed on both Nasdaq Dubai and the London Stock Exchange.
