RIYADH: UAE-based property management company Farnek hopes to reduce electricity, water, refrigerants, and fuel consumption by 30 percent over the span of the upcoming five years, according to a statement, citing the firm’s associate director of sustainability, Nada Ibrahim. The firm also intends to cut waste by 10 percent, as well as lower the emissions associated with purchased goods and services by five percent, the associate director disclosed. Established in the 1980s, Franek aims to slash emissions across those categories by 50 percent by 2031. The company is also targeting 90 percent reduction in its carbon footprint by 2048, she added. To achieve this, the firm has developed an online solution referred to as Optimizer in order to carry out as well as benchmark energy, water, and waste audits. In line with the UAE’s strategic initiative, those goals fall under Farnek’s roadmap to achieve carbon neutrality by 2050, Ibrahim revealed.