Saturday 2 July 2022

Farnek highlights importance of ESG in procurement practices

DUBAI, May 25, 2022

Farnek, a UAE-based provider of facilities management services and a long-term advocate of sustainability, has outlined the importance of ensuring environmental, social and governance (ESG) in procurement practices at ongoing Hotel Show in Dubai.
Speaking on the opening day as part of the session, Sustainable Procurement – a 360 Overview of ESG Compliant Procurement, Nadia Ibrahim, Farnek’s Associate Director of Sustainability, underscored the company’s smart and green facilities management credentials.
Ibrahim outlined the importance of ensuring environmental, social and governance (ESG) in procurement by highlighting, amongst other factors, the importance of responsible sourcing. 
"We work with many clients and manage more than 2,000 suppliers, so ESG is an integrated and integral part of our corporate values. We ensure that we responsibly procure products and services on behalf of our clients, suppliers, and employees while recognising and awarding those committed to ESG practices," she stated.
In addition, Ibrahim also outlined the importance of the tourism and hospitality sector adopting a net-zero strategy, to positively impact climate change to meet the environmental demands of various stakeholders, including customers. 
Other distinguished panel members included representatives from Accor, Kerten Hospitality, Premier Inn Middle East, and the consultancy AESG.
The discussion focused on how companies are now more accountable for their sourcing and how ESG has become a key element of every department and division within the hotel sector. The traditional role of procurement officers was also discussed, and it was noted they have now become one of the key drivers of sustainability. However, it was agreed that there is still more work to be done in this sector.
For its part, Farnek recently unveiled a roadmap to achieve net zero emissions by 2050, in line with the UAE’s strategic initiative, announced in October last year. 
Using 2021 as a baseline, Farnek consultants have already identified the scope and boundaries to accurately measure its carbon footprint. 
In addition to building performance, which includes energy and water consumption, Farnek also considers employee travel, logistics, purchased goods and services, and waste disposal, while focusing on recycling, renewables and other lower-carbon alternatives.
"Transparency, gauging progress and making adjustments will be important factors to the success of achieving our net-zero ambitions," remarked Ibrahim. 
"We are confident that within the next five years, we will have reduced our electricity, water, refrigerants and fuel consumption by 30%, cut our waste by 10% and lower emissions associated with purchased goods and services by 5%," she stated. 
By 2031, Farnek's objective is to decrease its emissions in these categories by up to 50%, and by 2048 its carbon footprint will have been cut by up to 90% overall," she added.-TradeArabia News Service


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