Aldar Properties has unveiled the region’s first sustainability incentive program, designed to reward suppliers who adopt environmentally friendly practices. The program offers a range of financial and non-financial benefits, according to a company press release.

The initiative aligns with the UAE’s Net Zero by 2050 commitment, the Industrial Decarbonization Roadmap launched by the Ministry of Industry and Advanced Technology (MoIAT) at COP28, the Green Public Procurement Pledge, and supports the National In-Country Value (ICV) Program.

Leveraging Aldar’s strategic partnership with MoIAT, which manages the National ICV Program, the initiative assesses contractors through a rating system. In 2023, Aldar contributed $2.85 billion to MoIAT.

This system evaluates factors like sustainability data, recycling rates, renewable energy use, carbon emissions, single-use plastic elimination, employee wellness, and alignment with Aldar’s low-carbon materials policy.

Suppliers joining the Real Estate Climate Pledge, an initiative created by Aldar with the Ministry of Climate Change and Environment, gain additional benefits. Aldar also urges suppliers to secure MoIAT-issued ICV certificates for preferential treatment in tenders.

Salama Al Awadhi, Assistant Undersecretary for Industrial Development at MoIAT, emphasized the program’s alignment with the National Strategy for Industry and Advanced Technology (Operation 300bn) and its focus on enhancing sustainability within the industrial and service sectors.

She highlighted the growth of the National ICV Programme, with 31 participating entities, over 6,500 certified companies, and over 8,000 ICV certificates issued in 2024, compared to 7,000 in 2023.