Saudi Arabia developing unified ESG guidelines to raise reporting standards, official says

Special Saudi Arabia developing unified ESG guidelines to raise reporting standards, official says
Yara Sindi takes part in a panel discussion during the World ESG Summit in Riyadh. (AN Photo/Huda Bashatah)
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Updated 11 February 2025
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Saudi Arabia developing unified ESG guidelines to raise reporting standards, official says

Saudi Arabia developing unified ESG guidelines to raise reporting standards, official says
  • Robust ecosystem will help prepare for sustainable future
  • Saudi companies need to improve accuracy of reports, says Sindi

RIYADH: Saudi Arabia is developing unified national environmental, social, and governance guidelines that aim to bring reporting up to international standards, an official said.

“By developing a robust ESG ecosystem, we can address current challenges while preparing for a more sustainable future,” Yara Sindi, general manager of monitoring, reporting, and policies for sustainability, and director of corporate sustainability at the Ministry of Economy and Planning said during a conference in Riyadh.

“With 30 percent of our top companies already reporting on sustainability and growing awareness globally, we have an incredible opportunity to capitalize on this momentum,” Sindi said.

Despite this progress, Sindi noted that the quality of these reports remains a challenge. Many are not aligned with international standards, resulting in weak ratings and limited investor engagement, she said.

While there are multiple existing national guidelines that have been developed by different jurisdictions, Sindi pointed out that there is still no unified approach.

She emphasized the need for Saudi companies to improve the accuracy and transparency of their sustainability reports.

“It’s essential to equip our corporates with the tools and frameworks they need to produce high-quality reports,” she said.

Sindi added that this will allow them to better translate their efforts into measurable outcomes that investors can trust.

To tackle these challenges, Saudi Arabia is developing its own national sustainability reporting standards.

“These guidelines, informed by international best practices, aim to provide a unified approach that simplifies reporting for companies while ensuring alignment with global expectations,” she added.

Sindi made the comments during a panel discussion titled “The Evolving Landscape of ESG: Trends, Challenges, and Opportunities” at the fifth World Environmental Social and Governance Summit in Riyadh this week.

She said that investors’ awareness of national ESG initiatives is not where it should be, due to the disconnect between companies and investors regarding sustainability efforts.

“We are working to bridge this gap by fostering conversations and knowledge-sharing between corporates and investors.”

Abdulaziz Al-Ghamdi, director of sustainability at Ardara, also participated in the discussion, emphasizing a critical aspect of proper ESG implementation.

“A lot is going on — the landscape on the policy and the implementation of the strategy — and there’s lots of effort and work to be thanked for.”

Al-Ghamdi added that where most companies fail to address proper ESG implementation strategy, and the way that it can aid decision-making, is in identifying, primarily, many different materiality topics and the sustainability mandate.

“That being said, ESG is a metric for those who have not been involved in it — to calculate, to measure, to track, and to assess the performance of a company towards this broader stakeholder engagement,” he explained.

Al-Ghamdi said that there is a lot of work that has been completed to do that, but there are significant challenges in implementing these kinds of ESG strategies.

Neil Atkinson, senior vice president and head of ESG and sustainability at Riyadh Bank, added further insights into how ESG opens new opportunities for Saudi Arabia’s rapidly transforming sectors such as construction, energy, and real estate.

“I’d say, with the mass transformation we have here in Saudi Arabia for all sectors, how ESG in collaboration with this transformation can provide new opportunities for us here in the Kingdom,” Atkinson said.

He identified four key trends shaping the ESG landscape from a banking perspective.

“The first one is the increasing growth of green, social, sustainability, and sustainability-linked instruments,” Atkinson said.

He noted that in the US, self-identified assets under management in ESG reached $6.5 trillion in 2024, reflecting a significant year-on-year rise.

Atkinson pointed to the scaling of clean energy technologies, particularly solar, hydrogen, and wind, as a second major trend.

The third trend Atkinson highlighted was the increasing demand from investors for measurable ESG metrics.

“There are innumerable macro studies that demonstrate the strong positive correlation between sustainability performance and financial performance,” he said.

This drives investor interest in companies’ ESG integration into corporate planning and strategy. Atkinson linked this trend to regulatory developments.

He added: “Sustainability performance equals financial performance, which equals financial stability. And that’s a trend we see continuing.”

Atkinson said that there are 3,000 Saudi companies impacted by the Corporate Sustainability Reporting Directive requirements.

“This will influence how businesses set up their exports and how we in the financial sector help companies transition to meet these requirements.”


White House thanks Saudi crown prince for facilitating Russia and Ukraine talks

White House thanks Saudi crown prince for facilitating Russia and Ukraine talks
Updated 27 min 16 sec ago
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White House thanks Saudi crown prince for facilitating Russia and Ukraine talks

White House thanks Saudi crown prince for facilitating Russia and Ukraine talks

RIYADH: The White House on Tuesday thanked Crown Prince Mohammed bin Salman on facilitating important talks on safe navigation in the Black Sea.
A White House statement said: “The United States expresses gratitude to Crown Prince Mohammed bin Salman for his leadership and hospitality in once again facilitating these important discussions in the Kingdom of Saudi Arabia.”
The US reached separate agreements with Russia and Ukraine in the Saudi capital Riyadh to keep the waterway, a vital route for agricultural goods, secure.
The two warring parties came to Saudi Arabia to discuss, with US and Saudi officials, first steps on settling crucial issues in the hopes of then reaching a wider resolution to the conflict.
Russia invaded Ukraine in 2022 and has annexed parts of the country.
Ukrainian President Volodymyr Zelenskyy praised the talks and said they were early steps toward a peaceful settlement.
Russian Foreign Minister Sergei Lavrov said: “We will need clear guarantees. And given the sad experience of agreements with just Kyiv, the guarantees can only be the result of an order from Washington to Zelensky and his team to do one thing and not the other.”


Ramadan through the lens of art

Saudi photographer Sultan Al-Qahtani captures crescent moons, street scenes and family gatherings as central elements. (Supplied
Saudi photographer Sultan Al-Qahtani captures crescent moons, street scenes and family gatherings as central elements. (Supplied
Updated 25 March 2025
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Ramadan through the lens of art

Saudi photographer Sultan Al-Qahtani captures crescent moons, street scenes and family gatherings as central elements. (Supplied
  • Holy month inspires creative process
  • Themes of faith and introspection reflected in artwork

RIYADH: The holy month of Ramadan offers profound creative inspiration with its themes of faith, renewal and introspection, three Saudi artists have told Arab News.

Norah Al-Ruwaili, Manar Al-Otaibi and Sultan Al-Qahtani discussed how Ramadan shapes their artistic expression.

For Al-Ruwaili, the holy month allows her to engage with her work more deeply. “Ramadan naturally slows everything down, creating space for reflection and intentionality,” she said.

 An artwork featuring floral patterns and Arabic calligraphy. (Supplied/@noras.scribbles)

“That shift influences my art. I become more mindful of the themes I explore and the emotions I want to convey.”

Al-Otaibi echoed this sentiment, describing how Ramadan transforms her approach to creativity.

“Ramadan deeply influences my artistic process by bringing a sense of stillness, introspection and spirituality,” she said.

Usually warmth is presented in the sunny days. In Ramadan, nights lights are vibrant and reflect warmth.

Sultan Al-Qahtani

For Al-Qahtani, a photographer, Ramadan shifts his focus to nighttime settings and the beauty of lights in the holy month. “Usually warmth is presented in the sunny days. In Ramadan, nights lights are vibrant and reflect warmth,” he said.

Al-Ruwaili finds herself “drawn to themes of stillness, spirituality and inner transformation.

“Patterns, calligraphy and elements inspired by prayer mats or architecture often appear in my work, like in my Mihrab paintings.

A vibrant mihrab-inspired artwork adorned with red floral elements. (Supplied/@noras.scribbles)

“I also love incorporating symbolism, whether through floral elements that represent spiritual blossoming or color choices that evoke serenity and depth,” she said.

Al-Otaibi uses “vibrant colors and intricate patterns” to express the emotions of the holy month.

For Al-Qahtani, Ramadan photography records the community spirit; he captures crescent moons, street scenes and family gatherings as central elements.

Al-Ruwaili said that spirituality and creativity are inseparable during Ramadan: “Creativity and spirituality aren’t separate for me, they intertwine. My artistic process becomes quieter and more intentional during Ramadan, almost like a form of meditation.”

But balancing creative work with fasting and responsibilities is a challenge, Al-Otaibi said. “It can be challenging, especially with work and other responsibilities. However, I often feel refreshed and inspired after iftar, which helps me reconnect with my creative flow,” she added.

Al-Qahtani experiences creative moments spontaneously, often between prayers and meals: “Creative moments are not planned but sometimes it can be harnessed late at night between prayers and meals.”

Representing the true spirit of Ramadan in visual art is not always easy. For Al-Ruwaili, moving beyond traditional imagery like lanterns and crescents to capture the feeling of Ramadan is her biggest challenge.

“Ramadan is deeply personal and spiritual, so visually representing its essence without being overly literal can be challenging,” she said.

“I try to move beyond traditional symbols like lanterns or crescents and focus more on the feeling of Ramadan: The sense of peace, renewal and contemplation.”

Al-Otaibi also struggles to visually depict the intangible elements of the holy month. “One challenge is translating the atmosphere of Ramadan into visual art, through key elements like the moon, fanous lights and family gatherings.

For Al-Qahtani, the challenge lies in capturing aesthetic nighttime lighting without overexposing the image: “Since most of the pictures I take are in the night, (I need) proper lighting — aesthetically pleasing lights, not just lots of lights.”

Al-Ruwaili’s Mihrab digital paintings hold a deep personal meaning: “My Mihrab digital paintings are probably the clearest example. They were inspired by the patterns found in prayer mats, which hold so much significance in daily spiritual practice.

“To me, they represent a sacred space; a personal retreat where stillness and connection meet,” she said.

Al-Otaibi created a painting of a family gathering during suhoor, which “represents togetherness, tradition and the quiet beauty of Ramadan nights.”

Al-Qahtani’s photography showcases Ramadan’s lights and the communal spirit.

Through painting, photography and digital art, the three artists capture the essence of the holy month, reflecting a period that is both personal and universally meaningful.

 


Riyadh to host occupational safety talks in May

Riyadh to host occupational safety talks in May
Updated 25 March 2025
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Riyadh to host occupational safety talks in May

Riyadh to host occupational safety talks in May
  • Al-Rajhi highlighted the event as a milestone in advancing global dialogue on occupational safety and health and improving compliance with standards at regional and global levels

RIYADH: The 7th Global Occupational Safety and Health Conference will be held in Riyadh from May 4 to 6, the Saudi Press Agency reported on Tuesday.

The event will gather local and international leaders from governments, the private sector, and academia, to discuss the future of occupational safety and health, as well as challenges and opportunities in global labor markets.

Ahmed Al-Rajhi, Human Resources and Social Development Minister. (SPA)

The conference aims to promote a culture of safety by fostering dialogue on the latest trends, innovations, and best practices while sharing essential knowledge, the SPA reported.

It will focus on developing policies and preventive measures to enhance occupational safety and health, with an emphasis on the role of technology in improving workplace environments.

Saudi Arabia’s Human Resources and Social Development Minister Ahmed Al-Rajhi said: “The conference will address critical issues impacting work ecosystems and work on developing optimal frameworks.”

Al-Rajhi highlighted the event as a milestone in advancing global dialogue on occupational safety and health and improving compliance with standards at regional and global levels.

 


Governor opens new Altanfeethi Lounge at Madinah airport

Governor opens new Altanfeethi Lounge at Madinah airport
Updated 25 March 2025
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Governor opens new Altanfeethi Lounge at Madinah airport

Governor opens new Altanfeethi Lounge at Madinah airport
  • Spanning 1,200 sq. meters, the lounge can accommodate over 240,000 passengers annually

MADINAH: Madinah Gov. Prince Salman bin Sultan bin Abdulaziz has opened the new Altanfeethi Lounge at Prince Mohammad bin Abdulaziz International Airport.

Spanning 1,200 sq. meters, the lounge can accommodate over 240,000 passengers annually, the Saudi Press Agency reported.

The inauguration was attended by the General Authority of Civil Aviation’s President Abdulaziz Al-Duailej, and Mohammed Alkhuraisi, the chairman of the Altanfeethi Company’s board of directors, along with regional civil and military officials.

 


Comoros president arrives in Madinah

The President of Comoros Azali Assoumani arrives in Madinah on Tuesday. (SPA)
The President of Comoros Azali Assoumani arrives in Madinah on Tuesday. (SPA)
Updated 25 March 2025
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Comoros president arrives in Madinah

The President of Comoros Azali Assoumani arrives in Madinah on Tuesday. (SPA)

RIYADH: The President of Comoros Azali Assoumani arrived in Madinah on Tuesday, Saudi Press Agency reported.

Assoumani was received on arrival by the Governor of Madinah region Prince Salman bin Sultan bin Abdulaziz and other officials.