As sustainability issues continue to hit the headlines worldwide, businesses that are good for the environment are also good for the bottom line. Investors globally are today placing value in companies that have strong sustainability schemes. While not yet mandatory, reporting on your environmental, social, and governance (ESG) initiatives is becoming more common, and investors are increasingly using reports as part of their analysis process to identify material risks and growth opportunities.
Governments across MENA are looking to promote green technologies and good practices. For example, sustainability is a key part of Saudi’s Vision 2030, the U.A.E. has launched a Ministry of Climate Change and Environment, and Egypt has announced a sustainable development strategy for the country.
The sustainability scene in the region is very diverse. Large local and multinational companies with their core business in traditional industries are executing billion-dollar sustainability projects or spending millions on making their operations better for the environment. There are also many established companies whose core activities are already in environmental industries like renewable energy and waste management.