Regional businesses need to create robust ESG strategies as all eyes turn to UAE for Cop28 – The National

Regional businesses need to create robust ESG strategies as all eyes turn to UAE for Cop28 – The National

With COP28 being hosted in the UAE in November 2023, the progress the nation has made in its bid to become net-zero by 2050 will undoubtedly become a focal point. Government, businesses and individuals all have a role to play in achieving this goal.

Environmental, Social and Governance (ESG) strategies have played an important role in reducing the impact businesses have on the environment and reducing their GHG emissions - the underlying aim of COP. While ESG is designed to identify business risks more generally, one of the main risks businesses face in securing their long-term future is climate change.

Reporting underpins the efficacy of a company’s ESG strategy and is now a high-stakes business imperative. Analysing ESG performance not only enables businesses to track their progress but is being used more and more frequently by other stakeholders to support their own decision making.