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    6 Ways MENA Corporations Can Set Path for Sustainability Success

    6 Ways MENA Corporations Can Set Path for Sustainability Success

    The importance of environmental, social, and governance (ESG) factors are growing heavier for the region’s businesses as MENA’s economy diversify and integrate more deeply into global capital markets.

    The private sector will play a vital role in the sustainability transition of the MENA region. Credentials in sustainability will influence finance availability and define competitiveness in international marketplaces. In the near future, ESG will rank among the most important differentiators for businesses exporting from the MENA region.

    Government provides the framework for a nation’s climate aspirations, but the private sector is what spurs innovation. The following areas must be focused on and recognized on the path to strategic success:

    Set precise goals: Ambitions must be clearly stated with a direction for action if climate change aims are to be successful. To achieve success at each level, adopt a net-zero aspiration and apply a thorough roadmap with short- to medium-term goals. To ensure accurate tracking and target evaluation, pursue working with SBTi.

    Accept change: By creating a sustainability department and involving top management in all climate-related projects and problems, leaders can raise awareness throughout their organizations.

    Boost your purchasing advantage: Urge your suppliers to support your company’s sustainability objectives by acting responsibly and openly. To boost suppliers’ emissions measurement, reporting, and reduction plans, mandate ESG in procurement.

    Join forces with the government: As the economy changes, businesses can collaborate with regulators and policymakers to determine the standards, methodology, and goals. Businesses must collaborate with legislators to have maximum impact as expectations and restrictions are anticipated to rise.

    Adopt world-wide standards: Including, but not limited to, transparent accounting methods, disclosure across Scopes 1, 2, and 3, and procedures for regularly measuring and disclosing any emissions for which the organization is liable.

    Increase consumer awareness: Organize focused initiatives to raise awareness and make a strong argument for the quick adoption of sustainable practices.

    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.

    The Sustainability Academy offers unique certified courses for professionals on all fields of Sustainability and ESG, such as Corporate Sustainability: Foundation CourseCarbon Reduction and Net Zero Strategies(Updated version)Sustainability(ESG) ReportingESG Impact and Sustainable InvestingCircular EconomySASB and TCFD Reporting. The courses provide a certified qualification to professionals so they can meet the high demands of their positions and the requirements of stakeholders.

     

    For more information, please reach out to us as [email protected].

     

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