JLL and Mashreq Collaborate to Achieve LEED Zero Carbon Status for the Bank’s Global Headquarters

Dubai, UAE; 7 August, 2024 – In a significant sustainability milestone, JLL, a leading professional services firm specialised in real estate, investment management and development consultancy services, and Mashreq, one of the leading financial institutions in the MENA region, have partnered to advance the bank’s net zero ambitions of its global headquarters.

The 38,484 sqm Mashreq Global Headquarters in Downtown Dubai was awarded the LEED Zero Carbon certification from the US Green Building Council for achieving net-zero carbon emissions and prioritising energy efficiency through sustainable design and operations. Based on its performance metrics of the past 12 months, the building’s net zero carbon status was realised through carbon emissions avoided or offset from the building’s annual operational energy and occupant transportation over a year, leading to a carbon dioxide equivalent (CO2e) balance of zero for the bank’s global HQ during the assessed period.

The new accolade follows the LEED Zero Energy (Leadership in Energy and Environmental Design) certification conferred on Mashreq’s stone-clad L-shaped tower last year for its efforts in addressing net-zero resources (energy, water, and waste). The Mashreq Global Headquarters was also recognised with LEED for Operations and Maintenance (O+M) Gold certification in 2022.

Darren Denikiewicz, Head of Engineering & Energy, Project & Development Services UAE at JLL, said: “Having earned multiple LEED Zero certifications, Mashreq’s Global Headquarters is a model of environmental stewardship and reinforces the bank’s position as a sustainability champion in the UAE and the wider MENA region. Harnessing the potential of leading renewable energy technologies and innovations in design integration, JLL is working with Mashreq to fulfil its net-zero goals and position it for long-term success through a compelling carbon emissions reduction strategy. As the social impact of green buildings becomes evident, we look forward to seeing more projects achieving LEED Zero certifications and making net zero goals a reality in the region.”

Bassem Fekry Farid, Executive Vice President, Head of Corporate Real Estate & Administration, Mashreq, said: “Achieving the prestigious LEED Zero Carbon certification for our Global Headquarters is a testament to the significant strides that Mashreq has made in meeting global sustainability standards as we move towards a low-energy, reduced carbon footprint future. The transparent tracking of energy use and reliance on renewables aligns with the UAE’s ambitious Net Zero by 2050 agenda. Through our partnership with JLL’s energy and engineering services, we remain committed to fulfilling our carbon neutrality goals and scaling our impact to assure an enhanced quality of life for our employees, tenants, and the wider community.”

Leveraging JLL’s expertise in sustainability services, Mashreq Global HQ has committed to offset its carbon emissions for three years until 2027. To realise this ambitious goal, Mashreq has purchased Renewable Energy certificates that are Green-e Energy certified and are equivalent to the electricity consumed. Mashreq has also purchased Green-e Climate certified carbon offsets, equivalent to non-electricity emissions from chilled water consumption and transportation.

A globally recognised symbol of sustainability achievement and leadership, LEED certification provides a valuable framework for healthy, efficient, carbon and cost-saving green buildings. LEED Zero is the latest and highest category under the LEED certification program and represents a new level of achievement in the region.