UAE Business: 60pc businesses in UAE and KSA lack ESG framework: survey – Gulf Digital News

UAE Business: 60pc businesses in UAE and KSA lack ESG framework: survey – Gulf Digital News

Some 60% of businesses in the UAE and the Kingdom of Saudi Arabia (KSA) do not have a framework governing their environment, social and governance (ESG) standards. Around half of those who do are not sure their employees fully understand it.

These were the top findings of an exclusive study of 200 decision makers in the two countries commissioned by ASDA’A BCW, the region’s leading integrated communications agency, to mark the launch OnePoint5, its new ESG advisory dedicated to the Middle East and North Africa (Mena).

Its name is inspired by the world’s most important sustainability goal – limiting global warming to 1.5 degrees Celsius above pre-industrial levels.

Sustainable business practices

OnePoint5 aims to strengthen the voice of the Mena region on ESG issues while helping clients to adopt more sustainable business practices. The new advisory arrives as Egypt prepares to host the UN Climate Change Conference, COP27, in November, to be followed by COP28 in the UAE in 2023.

Out of the 200 opinion elites interviewed, 41% said their business already had an ESG framework in place, while a third (33%) said they were developing one. A quarter (26%) admitted their company had no ESG policy. Underscoring the need for raised awareness of the