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As identified by The World Economic Forum’s Global Risk Report 2021, environmental risks, such as extreme weather, climate action failure and human environmental damage are the biggest global risks by impact and likelihood. The Middle East is especially vulnerable to climate threats and some governments have already taken measures to advance sustainability and increase their resilience.
Among them, Saudi Arabia, as the largest economy in the region, has added sustainability as a pillar of its Vision 2030 strategic framework, launched in 2016, revealing many projects related to green energy, including in wind, solar and hydrogen power. On the other hand, the UAE pledged to reduce its greenhouse gas emissions by 23.5 per cent compared to business as usual for the year 2030. Moreover, Al Dhafra region in the emirate of Abu Dhabi is about to become home to the world’s largest solar power plant with the capacity of 2 GW.
All these efforts have created a new environment for companies, in which they need to update their business models in order to align with the new ESG standards and the government policies. Sustainable investing is still in its early stages in the region, however, there are promising moves, such as the Prudent Ethical Investment (PEI), which includes responsible investment principles and an assessment of ESG criteria.
As sustainability has climbed to the top of policy agendas, companies need a framework for the future, which will allow them to enhance the region’s competitiveness, whilst protecting the environment. Which areas can provide significant growth opportunities? Of course, sustainable mobility, buildings, energy supply and agriculture, smart food chains and the preservation of natural capital, and resource efficiency.
2021 is projected to be a crucial year as the COP26 summit will take place in Glasgow in November, where parties will be brought together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
CSE’s Certified Sustainability (ESG) Practitioner Program will be held on September 23, 24 & 27 and focuses on key challenges that professionals have to face in the field of Sustainability, Supply Chain, Corporate Responsibility, Corporate Communications, Sustainable Development and Circular Economy.
Business leaders in corporate responsibility, sustainability, ESG, communications, marketing, and investors’ relations have claimed their spot in the program, in order to become certified and recognized as Sustainability ESG Practitioners by CSE, CPD and the Chartered Management Institute (CMI).
To find out more about how you can join this highly in demand certified Sustainability ESG Program please reach us at [email protected].
