DEWA Tops UAE Sustainability Rankings And Brand Value, Says Brand Finance
Brand Finance, the internationally recognized brand valuation consultancy, has recently announced Dubai Electricity and Water Authority (DEWA) as the most environmentally sustainable brand in the United Arab Emirates. This distinction highlights DEWA's leading role in promoting green initiatives and its significant contribution towards achieving Dubai's environmental goals.
HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, expressed pride in this acknowledgement, attributing it to the guidance of the UAE's leadership and DEWA's dedication to incorporating sustainability into every facet of its operations. This recognition not only showcases DEWA's commitment to environmental stewardship but also reaffirms its pivotal role in driving the emirate's sustainability agenda forward.
In its April 2024 report, Brand Finance underscored DEWA's exceptional adherence to environmental, social, and governance (ESG) principles. This has established DEWA as the frontrunner in the UAE in terms of environmental sustainability perceptions. The consultancy's Sustainability Perceptions Index, which measures brands' sustainability credentials across ESG dimensions, served as the basis for this recognition.
The report further detailed that DEWA stands as the most valuable utility brand in the UAE, and the second in the region, with its brand value experiencing a 3% increase to reach USD1.1 billion. This growth is reflective of the escalating demand for electricity and water in the region, coupled with DEWA's continuous efforts towards sustainable energy solutions.
Key projects have been pivotal in securing this achievement for DEWA. Notably, the Mohammed bin Rashid Al Maktoum Solar Park, the world's largest single-site solar park, aims for a production capacity of over 5,000MW by 2030. Additionally, DEWA's investment in the Green Hydrogen Project, the EV Green Charger initiative, and the Smart Grid, underscore its commitment to leveraging advanced technologies to enhance energy and water efficiency and to support the UAE's energy transition.
"DEWA operates in a challenging environment – providing essential utilities in a water-scarce, resource-hungry environment, to a rapidly growing population with high expectations. Ensuring the sustainability of its operations and managing its reputation in that context is a significant challenge, but one that DEWA is clearly managing adeptly," commented David Haigh, Chairman and CEO of Brand Finance.
DEWA's ongoing dedication to sustainability is also evident in its support for the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050. Through its innovative projects and strategic partnerships, DEWA continues to solidify its status as a global leader in sustainability, paving the way for a greener, more sustainable future for Dubai.
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