Data firms to receive a sustainability boost thanks to Saudi agreement with Clarity AI

Data firms to receive a sustainability boost thanks to Saudi agreement with Clarity AI

RIYADH: Saudi firms are set to receive a boost in sustainable business practices thanks to an agreement between the Kingdom’s Ministry of Economy and Planning and technology platform Clarity AI. A Memorandum of Understanding was signed between the two entities to help push ahead with the Ministry’s objective, under the National Transformation Program, to encourage data companies to operate in a sustainable manner. According to a statement announcing the MoU, Clarity AI is a sustainability technology platform that uses machine learning and big data to deliver environmental and social insights to investors, organizations, and consumers. Rebeca Minguela, founder and CEO of Clarity AI, said: “Making strides forward in ESG (environmental, social, and governance) and sustainability is an important part of Saudi Arabia’s National Transformation Program, and there is a clear commitment to building a business ecosystem which rewards companies and investors with the aim to create value beyond just financial returns. “Bolstering transparency, accountability and reporting rigor is critical to the Kingdom achieving its sustainability goals.” The MoU will see the Saudi government and Clarity AI cooperate in providing environmental and social visions for companies and institutions. The two will also exchange experiences in the use of big data techniques