Data centers: The growing importance of sustainability

April 25, 2023 | 9 min read

Jennifer McConkey

Managing Director, ESG & Operations

At-a-glance

Operating efficiency: Between 2010 and 2018, data centers supported 550% more compute instances using just 6% more energy.²
Market growth: Data center market size is projected to grow by 21.98% from 2021 to 2026.³
Geographic priority: North America is estimated to contribute 35% to the growth of the global market.³
Mitigating risk: Sustainable data centers address climate risk and may reduce both operational and reputational risk.

As the emphasis on environmental, social, and governance (ESG) considerations continues to grow, so does the scrutiny on market segments that are significant contributors to emissions due to high energy use.

For data centers, sustainability considerations have proven to be particularly vital. These facilities account for more than two percent of global energy consumption–equivalent to the aviation industry–and is projected to rise to eight percent by 2030.¹ Consequently, energy efficiency is a priority in data center sustainability efforts that tend to include additional indicators of environmental performance such as carbon emissions, water, waste, and biodiversity.

Many of the largest data center tenants are Fortune 100 companies that are unequivocally committed to reducing the environmental impact of their infrastructure and operations. Sustainable data center practices do more than reduce the carbon footprint, they lower the tenant’s total cost of ownership (TCO) and may reduce both operational and reputational risk.

Data demand is only expected to increase due to a structural shift in how consumers and corporates use data powered by Internet of Things (IoT), Infrastructure as a Service (IaaS), e-commerce, and gaming, as well as emerging technologies such as artificial intelligence (AI), driverless car technology, and 5G networks. There is rapidly growing digitalization, which places data centers at the confluence of supporting a wide variety of critical services around the clock, from email and file sharing to enterprise resource planning to support of core business processes.

Data center market segment growth

The global data center market size is projected to grow by $616 billion, progressing at a compound annual growth rate (CAGR) of 22% from 2021 to 2026. More than one-third (35%) of that growth will come from North America (primarily from the U.S.), which is also expected to grow faster than the markets in Europe and the Middle East/Africa.⁴

One of the key drivers of global data center market growth is the rise in the adoption of multi-cloud and network upgrades to support 5G— in North America in particular, there has been a substantial increase in the adoption of cloud services by enterprises across industries. Another major factor is the rise in the adoption of edge computing, which is a network architecture wherein the data is stored and processed near its origin. There has also been a significant increase in the adoption of IT infrastructure due to the increase in demand for computing power and storage to support the growth in global data traffic.

Leading sustainability best practices

Principal Real Estate and Stream Data Centers are dedicated to providing common sense solutions that meet the needs of today’s data center users while seeking to deliver positive financial and sustainability outcomes. Our sustainability objectives address environmental impact, climate resilience, data transparency, stakeholder engagement, and sustainable design.

Environmental impact is minimized through innovative cooling systems design, energy efficiency measures including raising data hall temperature setpoints, and sourcing renewable energy. Power is by far the biggest expense and most critical need for data centers, so efforts to reduce mechanical systems energy demand and offer uninterrupted power are a priority. Maintaining availability has traditionally been fulfilled with diverse utility feeds backed up by emergency diesel generators, but a more sustainable approach is to consider building an on-site substation to power the data center directly, securing power purchase agreements with local utility companies and competitive suppliers (ideally green power), or installing on-site renewable power generation along with Hydrogen Fuel Cell or LNG fueled Generators. Hyperscale providers such as Amazon, Facebook, Google, and Microsoft have led the charge toward 100% renewable energy commitments. According to the IEA World Energy Outlook 2017, the share of renewables in total power generation will increase from 24% in 2016 to 30% in 2022, and it predicts that renewable energy will account for two- thirds of global investment in power plants through 2040.⁵ And, energy efficiency starts at design with efficient infrastructure and structural considerations like enhanced walls and roof that also align with withstanding natural disasters and extreme weather.

Climate resilience is fostered through climate risk analysis, site selection, and mitigation strategies to help ensure building safety and preparedness for both physical and transitional climate risks. Physical risks include natural disasters and extreme weather such as flooding, wildfire, extreme temperature, and tropical cyclones. This informs site selection or identifies high risks that require a mitigation strategy.

Data transparency involves tracking and reporting on asset performance in alignment with recognized ESG benchmarks and standards such as GRESB. Principal has clearly defined sustainability metrics and targets, benchmarks utility usage in ENERGY STAR Portfolio Manager, and discloses performance to GRESB, CDP, PRI, and others.

Stakeholder engagement focuses on tenants and industry organizations. Tenants can be effective partners in reaching sustainability goals by optimizing operations and reducing inefficiencies. Tenants may have their own ESG initiatives to support or align, which increases the likelihood for collaborative partnerships. Tenants are also integral in collecting ESG data to drive performance, such as energy usage that is used to calculate greenhouse gas emissions. Implementing green lease clauses, such as data sharing, can play an important role in effective tenant engagement and collaboration.

Sustainability measures are most effective when contemplated by stakeholders during the design and development phase and even earlier during site selection when cost of power and risk of natural disasters can be evaluated. Sustainability measures to reduce negative impacts on the environment and improve building performance include resource management, building certifications, and technology and equipment innovation. There are several industry organizations, such as the iMason Climate Accord, Data Center Coalition, and Data Centre Alliance that can provide valuable insight and resources for sustainable data center operations.

Innovative technology & renewables

While data centers are energy-intensive, much has been done to enable these facilities to operate more efficiently through the deployment of innovative technologies and a shift to renewable energy power sources. In the last decade, even as data use has skyrocketed, technological enhancements such as processor efficiency improvements and reductions in idle power, have reduced the electricity requirements of data center servers.⁶

Research has shown that IT Equipment has increased in density but become more efficient in doing so, which means the energy required to process a terabyte of data has fallen. Some research has estimated a 20% reduction in energy intensity over the last five years– representing a sharper decrease than other energy intensive industries.⁷

Beyond processor efficiency, landlords and tenants are seeking innovative building solutions such as hydrogen fuel cells, capturing waste heat, and water free cooling. Microsoft recently used hydrogen fuel cells to back up some of its data center services, which could help replace diesel-powered backup generators.

Utilizing the excess heat produced by data center cooling equipment is another emerging area of energy efficiency, particularly in Scandinavia, Netherlands, and Germany. For example, an initiative in Stockholm aims to use waste heat from data centers to heat 10% of the city by 2035.⁸

Water free cooling or air-cooled systems are a priority solution for water constrained climates. For example, Intel recently announced an effort to create a reference design for immersion cooling, which is a technique that involves immersing servers and other equipment in non-conductive liquids to enable hyper-efficient cooling.⁹ Conversely, where water is abundant, using water can be a valuable tool for reducing emissions. However, there is increasing focus on water usage effectiveness (WUE) in data centers. As an example, Amazon committed to publishing Water Usage Effectiveness (WUE) reports on an annual basis. It also pledged to become water-positive, meaning it will make more water available than it consumes. One strategy has been to utilize recycled water for cooling in 20 of their data centers. Microsoft and Google Cloud have made similar pledges to be water-positive. Google’s Senior Vice President of Technical Infrastructure Urs Hölzle also recently wrote in a post titled Our commitment to climate-conscious data center cooling, “There is no one-size-fits-all solution.” ¹⁰

Our energy efficiency and carbon reduction strategy is encapsulated in three stages in order of priority: reduce, renew, and restore. First, reduction in energy use and greenhouse gases is achieved by taking advantage of increased tenant thermal requirements and innovating on mechanical systems to benefit from these elevated service-level agreements (SLAs). Since up to 40% of a modern data centers energy can go to mechanical, electrical, and plumbing systems (MEP systems0 that support IT Loads, it's vital that these systems maximize the gains available from elevated thermal SLAs, better airflow design and utilize the most efficient components available.

Second, renewables are an increasingly viable investment decision for both reliable energy supply and improved environmental outcomes. Additionally, renewable energy is becoming more cost effective. Microsoft recently committed to acquiring 900 megawatts of additional solar and wind energy, which is enough to power several hyperscale data centers.⁹ Along with Microsoft, large hyperscale data center tenants Amazon, Meta, and Google are represented in the top 10 of leading corporate purchasers of renewable energy globally, often by way of direct purchases from newly-built renewable generation under Power Purchase Agreements (PPAs).¹¹

Third, carbon offsets can be purchased that reduce emissions and ideally are selected for their ability to restore forests, update power plants and factories or increase the energy efficiency of buildings and transportation.

Risk mitigation

Sustainable and resilient data centers address climate risk and may reduce both operational and reputational risk.

Recently 25 companies and 17 associations across Europe announced an agreement to take specific measures to make data centers climate neutral by 2030.¹² It is a best practice to implement resiliency measures into data center risk mitigation strategies. Resiliency planning can help ensure building safety and increase preparedness for physical and transitional climate risks through climate risk analysis, site selection, and implementation of risk mitigation measures.

Total cost of ownership can be directly affected by operating costs related to energy and water usage, waste production, and carbon emissions (assuming potential carbon taxes). TCO can also be affected by supply issues, whether related to energy security, water scarcity, or equipment supply chain issues. Therefore, a sustainable data center incorporates design and sourcing considerations such as reducing reliance on water for cooling, using equipment sources that provide less exposure to global supply chain risk (and lower environmental impact), and shifting to renewable energy for more energy security.

Conclusion

Forward-thinking ESG practices in data centers has the potential to benefit the environment and are good for business. By taking a proactive role in promoting and implementing sustainability initiatives, we believe the data center industry will be well positioned to service its essential role connecting the global economy.

¹ Data Center Frontier, “The State of Data Center Sustainability” July 2022
² Stream Data Centers, "Yes, the Cloud Is a Catalyst; It's Also a Competitive Benchmark" 2023
³ Technavio, “Data Center Market Size to grow by USD 615.96 bn, Insights on the Key Drivers and Trends” November 2022
⁴ Technavio, November 2022
⁵ 451 Research "Smarter Datacenter Energy Procurement Can Improve Sustainability While Lowering Costs"
⁶ B. Wagner, “Intergenerational efficiency of DellEMC PowerEdge servers” (DellEMC white paper 2018)
⁷ American Association for the Advancement of Science, “Recalibrating global data center energy-use estimates” February 2020
⁸ Data Center Frontier, “Waste Heat Utilization is the Data Center Step Toward Net-Zero Energy” August 2020
⁹ Data Center Knowledge, “Key Data Center Sustainability Trends in 2022” December 2022
¹⁰ Urs Hölzle, "Our commitment to climate-conscious data center cooling" November 2022
¹¹ BloombergNEF “ Corporate Clean Energy Buying Tops 30GW Mark in Record Year” January 2022
¹² European Data Centre Association, “Climate Neutral Data Centre Pact" January 2021

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This website may contain videos where the comments were valid on the date the video was recorded. Markets move continuously and you should only rely on current information for any investment decisions. The information and materials contained on this website, and the terms, conditions, and descriptions that appear, are subject to change. All content on this website is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.

No Warranties
The information on this website has been developed internally and/or obtained from sources believed to be reliable; however Principal Global Investors and its affiliates do not independently verify or guarantee its accuracy or validity. The information and services provided on this website are provided ""AS IS"" and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, Principal Global Investors disclaims all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose. Principal Global Investors does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this website and does not warrant that the functions contained in this website will be uninterrupted or error-free, that defects will be corrected, or that the website will be free of viruses or other harmful components. Principal Global Investors expressly disclaims all liability for errors and omissions in the materials on this website and for the use or interpretation by others of information contained on the website. Subject to any contrary provisions of applicable law, no company in the Principal Financial Group nor any of their employees or directors gives any warranty of reliability or accuracy nor accepts any responsibility arising in any other way (including by reason of negligence) for errors or omissions on this website.

If you have questions, please email us.

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"These Terms & Conditions explain certain legal and regulatory conditions and restrictions in relation to the Principal Global Investors (Europe) Limited website, and in relation to the Principal Global Investors Funds (‘the Funds’). This information may be changed by Principal Global Investors at any time without notice.

In these terms and conditions, references to 'Principal Global Investors' means Principal Global Investors (Europe) Limited or any affiliate of the Principal Financial Group, Inc. or Principal Global Investors, LLC.

Before you proceed, you must acknowledge that you have read, and agree to, our terms and conditions.

Information in relation to the Principal Global Investors Funds is available through this web site to institutional investors resident in the following countries of: Belgium, France, Finland, Germany, Guernsey, Ireland, Italy, Jersey, Netherlands, Spain, Sweden, Switzerland and the United Kingdom. By proceeding this far you are representing and warranting that you are an institutional investor resident in one of these countries. Not all of the Funds are available in all these jurisdictions, and investors are directed to the Country Registration document for detailed information. What follows is not an offer or invitation to acquire an investment to, and should therefore not be relied upon by, any person anywhere other than the countries noted. Persons in respect of whom such prohibitions apply must not access this web site. This web site is reserved exclusively for non-U.S. persons and should not be accessed by any person in the United States.

Yes, I certify to be an institutional investor and resident of a country listed above.

Cookies
Use of cookies on this site is outlined in the Privacy and Security Policy. In accepting these terms and conditions, you accept the terms of the Cookie Policy and the use of cookies from this site.

Legal Entity Disclosure and Regulation
In Europe by Principal Global Investors (Ireland) Limited, 70 Sir John Rogerson’s Quay, Dublin 2, D02 R296, Ireland. Principal Global Investors (Ireland) Limited is regulated by the Central Bank of Ireland.

In the United Kingdom by Principal Global Investors (Europe) Limited, Level 1, 1 Wood Street, London, EC2V 7 JB, registered in England, No. 03819986, which is authorised and regulated by the Financial Conduct Authority (“FCA”).

In Switzerland by Principal Global Investors (Switzerland) GmbH. This website is considered as advertising and information contained herewith be treated as such. Investors can obtain free of charge the prospectus, trust deed, the prospectus, the key investor information document (KIID), and the annual and semi-annual reports from the representative in Switzerland.

In Europe and United Kingdom, this website is directed exclusively at Professional Clients and Eligible Counterparties and should not be relied upon by Retail Clients (all as defined by the MiFID and FCA respectively). If you are viewing the material as a retail investor, you should seek independent investment advice before deciding whether the products and services in question are suitable to meet your investment needs and objectives, as the language has not been complied to a retail client standard.

Principal Global Investors Funds
Principal Global Investors (Ireland) Limited is the issuer of the Funds. Investments may only be made on an application form attached to a current prospectus and following receipt by the investor of the KIID in respect of the Fund in which they intend to invest. The latest version of the prospectus of the Funds is dated 14 December 2012.

For Real estate investors in the European Economic Area (“EEA”), this website and the information on it is only directed at persons who are professional investors for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”), professional clients or eligible counterparties for the purposes of the Markets in Financial Instruments Directive (Directive 2014/65/EU) (“MiFID II”) or as otherwise defined under applicable local law and regulation and at whom this website and the information on it may lawfully be directed in any relevant jurisdiction (“Eligible Persons”). In relation to each member state of the EEA (“Member State”) which has implemented AIFMD (and for which transitional arrangements are not/ no longer available), this website may only be accessed and interests in Funds may only be offered or placed in a Member State to the extent that: (i) the relevant Fund is permitted to be marketed to professional investors in the relevant Member State in accordance with AIFMD (as implemented into the local law/regulation of the relevant Member State); or (ii) this website and its information may otherwise be lawfully distributed and the interests in Funds may otherwise be lawfully offered or placed in that Member State (including at the initiative of the investor). In relation to each Member State of the EEA which, at the date of accessing this website, has not implemented AIFMD, this information may only be distributed and interests in Funds may only be offered or placed to the extent that this information may be lawfully distributed and the interests in Funds may lawfully be offered or placed in that Member State (including at the initiative of the investor).

Persons who are not Eligible Persons, including but not limited to those individuals or other persons who fall within the FCA’s definition of ‘retail clients’, should not use or rely upon this website or the information contained therein and may not engage the services of Principal Real Estate or any of its affiliates, or invest in any Fund. Potential investors are advised that all or most of the protections provided by the UK regulatory system will not apply and that the UK Financial Services Compensation Scheme may not be available in relation to an investment in a Fund or separate account.

The contents of this website have not been verified or approved by any competent regulatory or supervisory authority. No liability, whether in negligence or otherwise, arising directly or indirectly from the use of the information or any part of it on this website is accepted and no representation, warranty or undertaking, whether express or implied, is or will be made at any time by Principal Real Estate or its affiliates or any of their respective advisers, directors, officers, employees, representatives or other agents (“Principal Agents”) for any information or any of the opinions contained herein or for any errors, omissions or misstatements.

None of Principal Real Estate or its affiliates or any Principal Agents makes or has been authorised to make any representation or warranties, whether express or implied, in relation to Principal Real Estate or regarding the truth, accuracy or completeness of any of the information contained on this website at any time. No representation or warranty is given by Principal Real Estate, its affiliates or the Principal Agents as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in the information on this website. Furthermore, nothing contained on this website is or should be relied on as a promise or representation as to the future. No reliance may be placed by any person for any purpose whatsoever on the information or opinions contained on this website or on its completeness, accuracy or fairness at any time.

Principal Global Investors (Europe) Limited is not authorised by the FCA to directly deal with retail investors; any distribution of the Fund to retail investors in Europe is facilitated by fund distributors with which Principal Global Investors (Europe) Limited has entered distribution arrangements, pursuant to advice provided to investors by those distributors, based on the documents Principal Global Investors (Europe) Limited provides. Retail investors should not be provided with access to this website.

The name of the Swiss representative is ACOLIN Fund Services AG, Stadelhoferstrasse 18, CH-8001 Zürich. The name of the Swiss paying agent is Banque Cantonale de Genève, 17, quai de l’Ile, 1204 Geneva. Investors can obtain the prospectus, trust deed, the simplified prospectuses and the annual and semi-annual reports free of charge from the representative in Switzerland.
The value of units and the income from them may fall as well as rise.

Investments in the Funds are neither insured nor guaranteed by the US Government or the Federal Deposit Insurance Corporation and are not deposits or obligations of, or guaranteed by, Principal Global Investors.

No Solicitation
Nothing contained in this website shall constitute an offer or solicitation, in relation to units in the Funds or generally, in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorised.

In particular, shares issued by the Company, and units in the Funds, have not been and will not be registered under the United States Securities Act of 1933 as amended or the securities laws of any state or political subdivision of the United States and may not, except in a transaction which does not violate US securities laws, be directly offered or sold in the United States or to any US Person. The Company will not be registered under the United States Investment Company Act of 1940 as amended.

This website is reserved exclusively for non-US persons and should not be accessed by any person in the United States.

No Investment Advice
The information in this website contains general information only on investment matters and should not be considered as a comprehensive statement on any matter and should not be relied upon as such nor should it be construed as specific investment advice, an opinion or recommendation. The general information it contains does not take account of any investor’s investment objectives, particular needs or financial situation, nor should it be relied upon in any way as a forecast or guarantee of future events regarding a particular investment or the markets in general. Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

You should also inform yourself as to (a) the possible tax consequences, (b) the legal requirements and (c) any foreign exchange restrictions or exchange control requirements which you might encounter under the laws of the countries of your citizenship, residence or domicile and which might be relevant to any investment, including the subscription, holding, transfer or disposal of units in the Funds

Delegation of Investment Management to Affiliates

Products upon which composite results contained in this material, if any, are based may not themselves be available in the United Kingdom and certain other jurisdictions; however, the underlying investment management capability can be made available to institutional investors subject to all applicable local regulations and restrictions. In connection with its management of client portfolios, PGIE may delegate management authority to affiliates that are not authorised and regulated by the Financial Conduct Authority. In any such case, the client may not benefit from all protections afforded by rules and regulations enacted under the Financial Services and Markets Act 2000.

Disclaimer
The information on this website is given by Principal Global Investors in good faith and has been derived from sources believed to be reliable and accurate as at their date. However, Principal Global Investors makes no representation or warranty of any kind for the accuracy or completeness of the information and it is under no obligation to update or correct any errors in the information after the date of publication. This website also contains videos where the comments were valid on the date the video was recorded. Markets move continuously and you should only rely on current information for any investment decisions.

Subject to applicable law, Principal Global Investors and its affiliates and their respective directors, employees and associates do not accept any responsibility arising in any way (including by reason of negligence) for errors in, or omissions from, the information and do not accept any liability for any loss or damage, however caused, as a result of any person relying on any information on the website or being unable to access the website.

The Internet is not a totally reliable and secure medium of communication. Principal Global Investors accepts no liability for the security or confidentiality of information transmitted in this way and any such transmission of information shall be at your own risk.

The entire content of this website is subject to copyright with all rights reserved. You may not copy, reproduce, distribute or modify the content of this website without the prior written permission of Principal Global Investors.

No instructions for investment purposes will be accepted directly from this website or by e-mail.

If you accept these terms and conditions, click “Accept.”

You are about to leave PrincipalAM.com and be directed to our Japanese site, PrincipalGlobal.jp. If you wish to proceed, please click "Accept." If you would like to stay on PrincipalAM.com, please click "I do not accept."

You may view, download for caching purposes only, and print content from the website for your own personal use, subject to the restrictions set out below and elsewhere in these Terms of Use.

No Guarantee of Timeliness
This website may contain videos where the comments were valid on the date the video was recorded. Markets move continuously and you should only rely on current information for any investment decisions. The information and materials contained on this website, and the terms, conditions, and descriptions that appear, are subject to change. All content on this website is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.

No Warranties
The information on this website has been developed internally and/or obtained from sources believed to be reliable; however Principal Global Investors and its affiliates do not independently verify or guarantee its accuracy or validity. The information and services provided on this website are provided ""AS IS"" and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, Principal Global Investors disclaims all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose. Principal Global Investors does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this website and does not warrant that the functions contained in this website will be uninterrupted or error-free, that defects will be corrected, or that the website will be free of viruses or other harmful components. Principal Global Investors expressly disclaims all liability for errors and omissions in the materials on this website and for the use or interpretation by others of information contained on the website. Subject to any contrary provisions of applicable law, no company in the Principal Financial Group nor any of their employees or directors gives any warranty of reliability or accuracy nor accepts any responsibility arising in any other way (including by reason of negligence) for errors or omissions on this website.

If you have questions, please email us.

Click ""Accept"" to indicate your acknowledgement and acceptance of Principal Global Investors Terms of Use and to continue."

This website contains general information only on investment matters and nothing in this website is intended to constitute or form part of any offer or inducement to issue or sell, or any solicitation of any offer to subscribe for or purchase, any securities or investment products in the UAE (including the Dubai International Financial Centre) and accordingly should not be construed as such. Information in this website is not directed at you if we are prohibited by any law of any jurisdiction from making the information on this site available to you and is not intended for any use that would be contrary to local law or regulation. Products or services mentioned on this site are subject to legal and regulatory requirements in applicable jurisdictions and may not be available in all jurisdictions. Accordingly, persons are required to inform themselves of and observe any such restrictions.

The information in this website is being made available on the basis that the recipient acknowledges and understands that the entities and securities to which it may relate have not been approved, licensed by or registered with the UAE Central Bank, the Dubai Financial Services Authority or any other relevant licensing authority or governmental agency in the UAE or elsewhere in the Middle East.

The information in the following website should not be construed as investment advice or a recommendation for the purchase or sale of any security. The value of investments and the income from them may fall as well as rise. Principal Investor Management (DIFC) Limited and the other member firms of Principal (collectively, the “Firms”) do not guarantee any investment results and there can be no assurance that the strategies employed will improve investment performance, and make no guarantee that a client’s investment objectives will be achieved and no warranties or representations, expressed or implied, are made by the Firms concerning the benefits of these strategies discussed herein. The information in this website has been developed internally and/or obtained from sources that the Firms believe to be reliable; however, the Firms do not guarantee the accuracy, adequacy or completeness of such information and are not responsible for any errors or omissions. This website also contains videos where the comments were valid on the date the video was recorded. Markets move continuously and you should only rely on current information for any investment decisions.

This website contains general information only on investment matters and should not be considered as a comprehensive statement on any matter and should not be relied upon as such. The information it contains does not take account of any investor’s investment objectives, particular needs or financial situation. Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision. You should consider whether an investment fits your investment objectives, particular needs and financial situation before making any investment decision.

Nothing in this website should be construed as investment, tax, legal or other advice.

The content of this website has not been approved by or filed with the UAE Central Bank or Dubai Financial Services Authority.

Access to this website is only permitted for “Professional Clients” as defined in the Conduct of Business of the Dubai Financial Services Authority’s Rulebook. If you are not a “Professional Client”, you may not access this website and you should select the “Decline” link below.

By selecting the “Accept” button below, and entering this website, you agree to these terms and confirm and represent that you are a “Professional Client”.