DAE publishes its 2022 ESG Report

Dubai, U.A.E., 13 April 2023 – Dubai Aerospace Enterprise (DAE) Ltd today announced the publication of its third annual Environmental, Social, and Governance (“ESG”) Report, for the year ended December 31, 2022. The report covers both DAE Capital and DAE Engineering, and has been prepared under the guidance of the Global Reporting Initiative (GRI) Standard. Limited Assurance has been provided by KPMG on certain metrics reported within DAE’s ESG Report. The report, which also includes KPMG’s independent assurance statement, can be found here, or on the ESG section of our 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”, as outlined below.

2022 Performance

• Reached a key milestone of having 50% of our owned aircraft fuel efficient, next generation technology, three years ahead of target.
• Completed ESG Risk Rating review by Morningstar Sustainalytics, achieving a score of 14.4, maintained our leadership position among rated industry peers.
• Awarded ‘ESG Industry Top Rated’ and ‘ESG Regional Top Rated’ accreditations from Sustainalytics for 2022.
• Signatory of the Aircraft Leasing Ireland Sustainability Charter.

Key Highlights

• Scope 1 and Scope 2 (Market Based) GHG emissions amounted to 3,896 tons of CO₂ equivalent in 2022 (2021: 2,722), of which 701 tons of CO₂ equivalent in 2022 (2021: 239) was attributable to DAE Capital, all of which was Scope 2 in both periods.

• Maintained strong levels of gender diversity among all sections of DAE Capital, with approximately 40% of DAE Capital’s employees being female, and 42% of DAE’s Management Team being female.
• Made inaugural voluntary disclosures through CDP and S&P Corporate Sustainability Assessment to further enhance our commitment to transparency and disclosure.