| DAE Capital | DAE Group | Engineering
ESG Risk Rating of 12.5 is lowest of all rated aircraft lessors
Dubai, U.A.E., 28 November 2023 – Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced that it has completed its annual review with Morningstar Sustainalytics. DAE’s ESG Risk Rating has been assessed as ‘Low Risk’, with a score of 12.5. This represents the lowest Morningstar Sustainalytics ESG Risk Rating of all rated aircraft lessors, and an improvement over the previous score of 14.6. The Summary ESG Risk Rating Report on DAE can be accessed here or on DAE’s website.
DAE has also made voluntary disclosures through the CDP Platform for its Climate Change 2023 response and S&P Corporate Sustainability Assessment (CSA) Portal. Our CDP response can be accessed here, our S&P CSA response can be accessed here, and both are available on DAE’s website. Our most recent Environmental, Social, and Governance (ESG) Report is available here, or on DAE’s website.
DAE Capital was an inaugural signatory of the Aircraft Leasing Ireland (ALI) Sustainability Charter, a framework for assessing and disclosing sustainability alignment for leasing portfolios and which provides actionable guidance on how to achieve GHG reduction ambitions. DAE is a proud sponsor of the annual ALI Global Aviation Sustainability Day, which brings together senior leaders and expert voices from across the aviation industry including lessors, airlines, regulators, fuel producers, manufacturers, and financiers.
Commenting on the publication of the ESG Risk Rating, Firoz Tarapore, Chief Executive Officer of DAE, stated, “We have continued to demonstrate effective ESG risk management at DAE, with our score improving by 2.1 points year-on-year, and we have retained our industry leading position. We are continuing to engage with our stakeholders on ESG issues and are committed to supporting the aviation industry in its decarbonization journey.”
Morningstar Sustainalytics’ ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks. This multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of ESG risk, i.e., a total unmanaged ESG risk score or the ESG Risk Rating, that is comparable across all industries. Sustainalytics’ ESG Risk Ratings provide a quantitative measure of unmanaged ESG risk and distinguish between five levels of risk: Negligible, Low, Medium, High, and Severe.
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About DAE
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York, and Seattle.
DAE Capital is an award-winning aircraft lessor with an owned, managed, committed, and mandated to manage fleet of approximately 550 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$20 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft. It is authorized to work on 15 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company’s web site at www.dubaiaerospace.com.
For further information, please contact:
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| Deion McCarthy | Deion McCarthy |
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