Saudi Arabia will launch the Saudi Green Initiative in November as the Kingdom continues its journey towards a sustainable future.
Sustainability is at the heart of the Saudi Vision 2030 as the Kingdom intends to reach net zero by 2060. The initiatives will aim for reduction of desertification and ways to boost biodiversity, improving quality of life and mental well-being as a result.
The Saudi Green Initiative looks towards a cleaner and more sustainable future and will consider input from several scientific and research bodies as well as companies which comprise over 60 experts on soil, water, climate change and desertification.
Furthermore, a global International Business Management (IBM) Institute for Business Value (IBV) study revealed that sustainability is gaining prominence on corporate agendas. Figures show that 62% of surveyed CEOs in Saudi Arabia believe increasing sustainability is a top priority. These figures are 14% higher than the global average.
IBM’s study - Own your impact: Practical pathways to transformational sustainability - covered over 60 CEOs in Saudi Arabia. More than 50% of them are confident of achieving their sustainability goals with 28% in the implementation stage of their strategy. 52% of them say they are partly implementing their strategies.
Conversely, more than 60% of surveyed CEOs in Saudi Arabia cite sustainability among their greatest short-term challenges. Figures show 60% list unclear return of investment (ROI) and economic benefits as a leading challenge. In addition, 53% of the respondents worry about a lack of insight from data and 45% are concerned about technological barriers.
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