Latest news with #NetZero2060
Biz Bahrain
08-06-2025
- Business
- Biz Bahrain
GFH Financial Group partners with Safa to offset the annual carbon footprint of its employees
In a significant step toward corporate sustainability, GFH Financial Group has announced a new initiative to offset the annual carbon emissions of all its full-time employees. This initiative, developed in collaboration with Safa, Bahrain's climate action platform and a Mumtalakat portfolio company, will see the Group take tangible action to neutralize its operational environmental impact. The initiative to offset the carbon emission covers the full-time workforce at GFH Financial Group. According to national emissions data, the average individual in Bahrain emits just over 26 tonnes of carbon dioxide equivalent (tCO₂e) per year through daily activities. An individual's annual carbon emissions refer to the total amount of carbon dioxide they generate each year through everyday activities such as driving, using electricity, and consuming goods and services. Carbon offsetting involves financially supporting projects—like renewable energy initiatives or reforestation efforts—that reduce or remove an equivalent amount of carbon dioxide from the atmosphere. Through its partnership with Safa, GFH ensures that carbon offsets made on behalf of its employees are real, measurable, and independently verified, meeting Safa's rigorous standards for high-quality carbon credits. By offsetting the annual emissions for each employee, GFH is demonstrating proactive environmental leadership and reinforcing its support for the Kingdom of Bahrain's Net Zero 2060 ambitions. This announcement coincides with World Environment Day, reinforcing the shared urgency for climate action and the need for institutions to adopt measurable, transparent sustainability strategies.
Zawya
05-06-2025
- Business
- Zawya
GFH Financial Group partners with Safa to offset the annual carbon footprint of its employees
Manama, Bahrain – In a significant step toward corporate sustainability, GFH Financial Group has announced a new initiative to offset the annual carbon emissions of all its full-time employees. This initiative, developed in collaboration with Safa, Bahrain's climate action platform and a Mumtalakat portfolio company, will see the Group take tangible action to neutralize its operational environmental impact. The initiative to offset the carbon emission covers the full-time workforce at GFH Financial Group. According to national emissions data, the average individual in Bahrain emits just over 26 tonnes of carbon dioxide equivalent (tCO₂e) per year through daily activities. An individual's annual carbon emissions refer to the total amount of carbon dioxide they generate each year through everyday activities such as driving, using electricity, and consuming goods and services. Carbon offsetting involves financially supporting projects—like renewable energy initiatives or reforestation efforts—that reduce or remove an equivalent amount of carbon dioxide from the atmosphere. Through its partnership with Safa, GFH ensures that carbon offsets made on behalf of its employees are real, measurable, and independently verified, meeting Safa's rigorous standards for high-quality carbon credits. By offsetting the annual emissions for each employee, GFH is demonstrating proactive environmental leadership and reinforcing its support for the Kingdom of Bahrain's Net Zero 2060 ambitions. This announcement coincides with World Environment Day, reinforcing the shared urgency for climate action and the need for institutions to adopt measurable, transparent sustainability strategies. About GFH Financial Group GFH Financial Group, licensed as an Islamic wholesale bank by the Central Bank of Bahrain and headquartered at GFH House, P.O. Box 10006, Manama Sea Front, Kingdom of Bahrain is one of the most recognised financial groups in the Gulf region. Its businesses include Investment Management, Treasury & Proprietary Investments, Commercial Banking and Real Estate Development. The Group's operations are principally focused across the GCC, North Africa and India, along with strategic investments in the U.S., Europe and U.K. GFH is listed on four stock exchanges in the GCC, including the Bahrain Bourse, Boursa Kuwait, Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) where it is one of the most liquid and actively traded stocks. For more information, please visit About Safa Safa is a Bahrain-based carbon offset and climate action platform that helps individuals, businesses, and institutions take measurable steps toward environmental responsibility. A portfolio company of Mumtalakat, Safa provides access to internationally verified carbon offset projects and practical tools to reduce and balance carbon footprints. | info@
Zawya
16-02-2025
- Business
- Zawya
Seef Properties launches major sustainable energy project in Bahrain, announces appointment of EPC contractors
Yellow Door Energy appoints Comsip Al A'Ali and Almoayyed Solar as EPC contractors Project in line with Bahrain's Net Zero 2060 goals Manama, Kingdom of Bahrain – Seef Properties announced the launch of its solar power initiative, one of the largest in Bahrain's history, which aims to bring clean electricity to four premier retail destinations: Seef Mall – Seef District, Seef Mall – Isa Town, Seef Mall – Muharraq, and Al Liwan. Yellow Door Energy (YDE), a leading sustainable energy partner for businesses in the Middle East and Africa, appointed Comsip Al A'ali and Almoayyed Solar Company as contractors to oversee the project's engineering, procurement, and construction (EPC). The two contractors will be responsible for the installation and maintenance of solar panels, drawing on their extensive expertise in the field. Comsip Al A'ali, part of global multi-technical services provider VINCI Energies, will provide the installation and maintenance of solar panels at Seef Mall – Muharraq and Al Liwan. Almoayyed Solar Company, a division of leading conglomerate Almoayyed International Group, will implement the same tasks at Seef Mall – Seef District and Seef Mall – Isa Town. The solar panels will be installed on the rooftops of the malls and in their designated parking areas. With a total capacity of 8.9 megawatts, the panels will make up one of the largest combined areas of environmentally-friendly commercial spaces in the Kingdom, generating an estimated 14,000 megawatt-hours per year. This is equivalent to over 10,000 metric tons of carbon emissions avoided. Seef Properties Chief Executive Officer, Ahmed Yusuf said: 'The deployment of solar panels across Seef Properties' locations will set a benchmark for large-scale commercial solar projects in Bahrain, showcasing how advanced engineering can drive impactful environmental change. By integrating clean energy solutions into Seef Properties' destinations, we aim to significantly reduce energy costs and carbon emissions while also enhancing the efficiency of our operations. Seef Properties meticulously selects its partners, and Yellow Door Energy was the standout in this space thanks to its extensive technical and managerial expertise in implementing sustainable energy projects in Bahrain. This makes them ideal choice for bringing our ambitious vision to life.' Jeremy Crane, Group CEO of Yellow Door Energy, said: 'We are proud to collaborate with Seef Properties on this multi-site solar power purchase agreement (PPA), as it accelerates renewable energy adoption in Bahrain's commercial sector. With a strong track record and a growing portfolio of 31.5 megawatts-peak of solar projects in Bahrain, Yellow Door Energy continues to bring affordable, reliable, and sustainable energy solutions to leading businesses in the Kingdom. Integrating innovative technology with environmentally conscious strategies can be transformative for the real estate industry, and this solar PPA with Seef Properties will serve as a testament to Bahrain's achievements in sustainability.' Work is scheduled to commence in Q1 with completion expected by Q4 2025. Currently, the project is estimated to include over 15,600 solar panels, with approximately one half placed on rooftops, and the other half installed as bifacial high-efficiency modules in car parks across the four shopping malls. Total capacity is projected to be 8.9 MWp, which has the potential to generate significant amounts of clean energy annually, reduce carbon emissions, and support Bahrain's sustainability goals, in line with Bahrain's Net Zero 2060 goals. -Ends- Media contact: Mohammed Isa Perceptions PR & Digital Email: mohammed@ About Seef Properties: Seef Properties B.S.C. was established in the year 1999 and is a public shared company listed on Bahrain Bourse since 2007 with its operations headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand. The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients. The Company's message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.
