John Revess, Senior Director of Net Zero Transformation at the World Business Council for Sustainable Development, once said, “In this decade of action, it’s really imperative that every company deals with its impact on climate change, biodiversity loss, and mounting inequality.”

Over the past few years, there has been a growing concern regarding the adverse impact of the rising temperatures of the planet. The increased demand for diversifying the economy has put governments around the world in action by fostering an environment of growing collaborations between enterprises, corporations and government agencies.

The need for greater transparency has driven the focus towards the adoption of environmental, social, and corporate governance (ESG) policies. The Middle East and North Africa (MENA) region has been taking significant strides towards diversifying their economies from an oil driven economy to a more environmentally sustainable economy. 

Changing Mindset

As per a recent study by PwC, there has been a tectonic shift in the attitudes of corporates in the MENA region, wherein they play an active role in demanding a changed mind-set with respect to climate change and seek a stronger climate reform. 

Companies in the region understand that the changing times demand greater accountability and transparency. This is the reason why there is an increase in the public reporting about their operations and how much impact it has on the environment. As per the report, 64% of the respondents to their surveys have acknowledged the adoption of a formal ESG strategy and embedded their ESG priorities over the past year.

Yet, there is a need for unlocking green financing and sustainability skills to help the region realise their climate goals. The same report states that there is burgeoning gap in sustainable financing, only 13% of business in the region are accessing sustainable financing and challenges still remain due to the green skills gap. 

UAE on the driver seat 

The UAE is set to host COP28 later this year - this seems fitting as UAE announced 2023 as the 'year of sustainability'. With a 32% year-on-year growth in green and sustainable finance issuing for 2022, UAE is growing to be one of the many cases of the increasing ESG momentum in the region.

Government initiatives such as UAE's Net Zero 2050 and UAE Energy 2050 are some of the many initiatives taken by the government to smoothen the path towards a sustainable and resilient economy.

With this mission in mind, DIFC is hosting the Future Sustainability Forum at the Ritz Carlton in Dubai on 4-5 October 2023. This outcome-driven forum brings together global industry leaders and innovators, providing them with unique perspectives while setting the standard for action-oriented sustainability dialogues.

The forum will discuss issues such as the current global and regional Start-up landscape while looking at how corporates drive ESG Innovation among many others. Join us by getting involved in ushering a new sustainable future for the region by listening to captivating discussions, latest technology use-cases and meet innovators who are changing the game in sustainability. 

If you are a media partner, C-level executive or a prospective sponsor intrigued to be a part of our movement, enquire now: https://www.futuresustainabilityforum.com/general-enquiry/

Secure your spot at the #FutureSustainabilityForum today and be a catalyst for change: https://www.futuresustainabilityforum.com/book-tickets/