PepsiCo & SWMC partner to enhance environmental sustainability in KSA

Tamer Mosalam, Vice President & General Manager GCC and Levant, PepsiCo
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Updated 03 August 2020

PepsiCo & SWMC partner to enhance environmental sustainability in KSA

PepsiCo and the Saudi Waste Management Center (SWMC) have signed a memorandum of understanding (MoU) to launch a strategic partnership that aims to enhance sustainability in the Kingdom. The MoU highlights the two parties’ role in promoting sustainability policies based on international best practices to support a circular economy. The agreement was signed by Dr. Abdullah F. Al-Sebaei, CEO and board member of SWMC, and Tamer Mosalam, vice president, general manager GCC and Levant business unit, PepsiCo.
The first sustainability project in the partnership saw Aquafina (the brand of purified bottled water produced by PepsiCo) and the SWMC introduce innovative solutions to facilitate a more environmentally friendly Hajj. To do this, the two parties provided customized smart bins especially built for the event around Makkah’s holy sites. The smart bins can segregate, and crush plastic bottles to minimize plastic waste. The machines operate through solar power and reduce carbon footprint.

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The first sustainability project under the partnership was the implementation of a more environmentally friendly Hajj.

Additionally, an Aquafina recycling awareness campaign encouraged pilgrims to actively participate in making sustainable choices. The results of the project will help inform and guide future projects in next year’s Hajj when the Kingdom will once again welcome back millions of pilgrims to the Kingdom.
To produce the smart bins, PepsiCo delivered on its commitment to support small and medium enterprises (SMEs) during COVID-19. The company worked with Cycled to create customizable Aquafina-branded smart bins for this year’s Hajj.
SWMC CEO Al-Sebaei said: “Our partnership with PepsiCo gives us an opportunity to generate more awareness on the importance of sustainable waste collection and develop a proactive culture of recycling.”
Mosalam said: “We are grateful for the opportunity to partner with the Ministry of Environment, Water and Agriculture, represented by Saudi Waste Management Center.”

 


KAUST’s conscious investor program region’s first

Updated 24 September 2020

KAUST’s conscious investor program region’s first

King Abdullah University of Science and Technology (KAUST) has partnered with the investment platform VentureSouq, startAD, the Abu Dhabi-based global accelerator anchored at New York University Abu Dhabi (NYUAD), and its partner Tamkeen, to launch the first Conscious Investor Fellowship in the GCC. The pan-regional fellowship is a six-week virtual program dedicated to enabling regional investors in the GCC to create sustainable change through impact investments. The program, which will take place from Oct. 7 to Nov. 25, comes as part of the upcoming annual Angel Rising Symposium, to be held virtually between Nov. 24-25, which provides education and conversations on the future of the angel investment sector and how it can fuel national and regional innovation.

The fellowship aims to empower the next generation of regional mission-driven investors who will fuel emerging ventures using technology for meaningful change, resulting in a measurable positive impact. Twenty-five investors from family offices, corporate and government entities will be welcomed as fellows of this inaugural cohort, where they will learn how to identify and invest into tech-enabled impact-driven startups.

The program will cover conscious investment strategies, startup diligence and valuations, impact measurement, portfolio management, and global sector trends in the impact space. Elective thematic masterclasses will also be offered, with a specific focus on health tech, educational tech, environmental tech, and agricultural tech. Participants will be able to apply their knowledge and invest in live deals through VentureSouq’s Conscious Collective Fund. The inaugural edition is held in collaboration with the Sharjah Entrepreneurship Center and Hub71.

Hattan Ahmed, head of the KAUST Entrepreneurship Center, said: “KAUST is driven by a mission to advance research and create new technologies that address our greatest global challenge in food, water, energy, and the environment. We are starting to see more deep tech startups emerging from the ecosystem, disrupting existing industries and creating new solutions to these challenges. The Conscious Investor Fellowship is a key step to advancing this ecosystem and educating regional investors about the potential of emerging technologies and their long-term value. For Saudi Arabia in particular, there is a unique opportunity to nurture this deep tech ecosystem for real economic transformation.”

Ramesh Jagannathan, research professor of engineering, vice provost for entrepreneurship at NYUAD, and managing director of startAD, said: “Conscious investment is a growing global force, accelerated by the ongoing impacts of the global pandemic. In the UAE, and specifically Abu Dhabi, we have a unique opportunity to engage with this global trend, given that the emirate has the highest net potential wealth globally.”