Climate Change
Climate change is a global crisis that requires universal cooperation beginning with local action. Aside from our daily focus on improving the carbon footprint of our hotel operations, FIVE acknowledges the role of the value chain in contributing significant emissions towards our business. Increasing engagement with our supply chain has emerged a top priority. To this end, we have set the ambition to begin defining scope 3 boundaries and have committed to setting science-based (SBTi) emission targets by 2025. In 2022 FIVE measured its Scope 1 and 2 emissions in line with the GHG Protocol and DEFRA Methodology. Within our Sustainability Objectives, we have set a target to reduce carbon use intensity by 85% by 2025 compared to 2020 baseline 43.4 (MtCO2e/AED mn).
A climate change mitigation and adaptation strategy has been adopted by FIVE, which discusses climate risks and possible damages to destinations or infrastructure through extreme weather events and provides a best effort to outline appropriate mitigation measures. This document compliments FIVE’s TCFD report and Greenhouse Gas Emission Reports prepared to GHG Protocol and ISO 14064-1:2018 Standards.
