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FIVE has achieved a significant milestone in the UAE by becoming the first and only hotel to acquire International Renewable Energy Certificates (I-REC) for 2022, ensuring that all of its electricity comes from renewable sources. The certificates were obtained from the Mohammed bin Rashid Al Maktoum Solar Park, which is being developed by Dubai Electricity and Water Authority P.J.S.C (DEWA). This solar park is the largest of its kind globally and operates on the Independent Power Producer (IPP) model. By 2030, it is expected to have a production capacity of 5,000MW, with a total investment of AED 50 billion.
FIVE's exclusive I-REC agreement was subsequently verified by the International Renewable Energy Certification Foundation (I-REC), an organization renowned for establishing standardized renewable energy programs and validating sustainability claims worldwide. FIVE's recent accomplishment in embracing forward-thinking solutions for sustainable development exemplifies its steadfast dedication to sustainable hospitality.
HE Saeed Mohammed Al Tayer, the Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), expressed his congratulations to FIVE for becoming the sole hotel in the UAE to obtain the International Renewable Energy Certification Foundation (I-REC). This achievement enabled FIVE to achieve a remarkable feat of utilizing 100% renewable electricity throughout 2022. HE Al Tayer emphasized that FIVE's commitment to sustainability serves as an exemplary model for businesses not only in the UAE but also worldwide, regardless of their scale or scope.
Furthermore, HE Al Tayer emphasized DEWA's commitment to promoting sustainability and driving the transition towards a greener, sustainable economy in Dubai. This includes efforts to increase the proportion of renewable and clean energy sources within the overall energy mix of the city.
In 2022, FIVE achieved remarkable reductions in carbon use intensity, with a notable decrease of 76.2% (MtCO2e/AED mn) compared to its 2020 baseline. Additionally, electricity consumption per capita was reduced by 35.3% (kWh/cover), and water use intensity decreased by 36.2% (litres/cover). With an unwavering commitment to continuous improvement, FIVE will actively pursue further enhancements in energy and environmental efficiencies, while simultaneously lowering its carbon footprint. This includes a resolute dedication to setting Science Based Targets (SBTi) aligned with a 1.5°C scenario by 2025.
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