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)
Short Url
Updated 11 February 2025
Follow

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.”


Saudi scouts volunteer 11,800 hours in first 10 days of Ramadan

Saudi scouts volunteer 11,800 hours in first 10 days of Ramadan
Updated 12 March 2025
Follow

Saudi scouts volunteer 11,800 hours in first 10 days of Ramadan

Saudi scouts volunteer 11,800 hours in first 10 days of Ramadan
  • Camp leader says it plays a vital role in promoting volunteerism and a positive image of the Saudi youth

MAKKAH: Makkah’s young scouts at the Saudi Arabian Scouts Association volunteered 11,800 hours during the first 10 days of Ramadan.

In collaboration with the Ministry of Education’s Makkah Department, the association’s pilgrim service camp deployed 295 scouts to assist Umrah performers in Makkah during Ramadan.

Ziyad Qadeer, the camp leader, said the camp plays a vital role in promoting volunteerism, patriotism, and a positive image of the Saudi youth, confirming that their services will continue throughout Ramadan.

The camp also collaborated with the General Authority for the Care of the Affairs of the Grand Mosque and the Prophet’s Mosque, the Makkah Health Cluster, and the General Directorate of Public Security.


Facilities Security Forces chief inspects Haramain train stations to ensure Umrah pilgrims' safety

Facilities Security Forces chief inspects Haramain train stations to ensure Umrah pilgrims' safety
Updated 12 March 2025
Follow

Facilities Security Forces chief inspects Haramain train stations to ensure Umrah pilgrims' safety

Facilities Security Forces chief inspects Haramain train stations to ensure Umrah pilgrims' safety
  • Haramain High Speed Railway connects Makkah to Madinah
  • Staff outline security measures to create a safe environment for pilgrims

MAKKAH: The commander of Saudi Arabia’s Facilities Security Forces, Maj. Gen. Saad bin Abdulaziz Al-Moghaisseb, inspected transportation sites in Makkah as part of efforts to ensure the safety and security of visitors and Umrah pilgrims during Ramadan.

Al-Moghaisseb visited the command and control centers, halls, and yards of the Haramain High Speed Railway, which connects the holy city of Makkah to Madinah.

Staff briefed the FSF commander on security measures implemented at the Haramain train stations to create a safe environment for visitors and Umrah pilgrims.

The commander conveyed the greetings of Minister of Interior Prince Abdulaziz bin Saud bin Naif to FSF staff for the month of Ramadan, the Saudi Press Agency reported.


Saudi hospital performs robotic spinal, pelvic surgery

Saudi hospital performs robotic spinal, pelvic surgery
Updated 12 March 2025
Follow

Saudi hospital performs robotic spinal, pelvic surgery

Saudi hospital performs robotic spinal, pelvic surgery
  • KFHU performed complex robotic surgery to stabilize spinal and pelvic fractures in a patient injured in a motor vehicle accident
  • Achievement underscores the hospital’s commitment to advanced medical technologies and AI integration, enhancing safety, accuracy and innovation

RIYADH: King Fahd University Hospital has successfully performed a complex robotic surgery to stabilize spinal and pelvic fractures in a patient injured in a motor vehicle accident.

The hospital is part of Imam Abdulrahman bin Faisal University’s Academic Medical City in Alkhobar.

The hospital highlighted that the Saudi medical team used robotic surgery to reduce complications and speed up recovery, thereby improving healthcare quality, the Saudi Press Agency reported on Wednesday.

The achievement underscores the hospital’s commitment to advanced medical technologies and AI integration, enhancing safety, accuracy and innovation, the SPA added.

In January, King Fahd University Hospital’s Heart Center achieved significant breakthroughs in treating heart and lung conditions.

The center pioneered balloon pulmonary angioplasty, a groundbreaking treatment for chronic thromboembolic pulmonary hypertension, marking a first for the Eastern Province.

During the procedure, a catheter is inserted through a vein to reach narrowed or blocked pulmonary arteries. A small balloon is then inflated to widen the vessels and restore normal blood flow.

This technique improves blood oxygen levels, reduces pulmonary artery pressure, enhances heart function and significantly elevates quality of life, according to the SPA.


Authorities bust drug smugglers across Saudi Arabia

Authorities bust drug smugglers across Saudi Arabia
Updated 12 March 2025
Follow

Authorities bust drug smugglers across Saudi Arabia

Authorities bust drug smugglers across Saudi Arabia
  • Border Guard land patrols in the Al-Raboah sector of the Asir region arrested five Ethiopians for smuggling 100 kg of qat

RIYADH: Saudi authorities carried out multiple drug-related arrests and seizures across the Kingdom, the Saudi Press Agency reported on Wednesday.

Border Guard land patrols in the Al-Raboah sector of the Asir region arrested five Ethiopians for smuggling 100 kg of qat.

In the Al-Dayer governorate of the Jazan region, authorities arrested three Yemenis and Ethiopians for smuggling 90 kg of qat.

In another seizure, land patrols thwarted the smuggling of 59,210 tablets subject to medical circulation regulations in the same governorate.

Authorities in Jazan also arrested a citizen for selling methamphetamine, also known as shabu.

Preliminary legal procedures were completed and all seized items were transferred to the relevant authorities.

Authorities have urged the public to report drug smuggling or selling by calling 911 in Makkah, Riyadh and the Eastern Province, or 999 in other regions.

Reports can also be submitted, in strict confidence, to the General Directorate of Narcotics Control at 995 or via email at [email protected].


Saudi project restores authenticity to Najran’s historical mosque

Saudi project restores authenticity to Najran’s historical mosque
Updated 12 March 2025
Follow

Saudi project restores authenticity to Najran’s historical mosque

Saudi project restores authenticity to Najran’s historical mosque
  • The project aims to correct previous renovations that introduced non-authentic materials, restoring the mosque to its original heritage style
  • Built in 1966, the mosque spans 1,436 sq. meters and accommodates 1,000 worshippers

RIYADH: Al-Zubair bin Al-Awwam Mosque, located near the historic Emirate Palace in Najran, is undergoing restoration as part of the second phase of the Prince Mohammed bin Salman Project for the Development of Historic Mosques.

The project aims to correct previous renovations that introduced non-authentic materials, restoring the mosque to its original heritage style, reflective of the Najran region, according to the Saudi Press Agency.

Built in 1966, the mosque spans 1,436 sq. meters and accommodates 1,000 worshippers, the SPA added.

Its construction follows traditional methods, featuring horizontal courses and roofing made from wood extracted from palm trunks, fronds, and tamarisk trees.

The restoration will use the same natural materials as the original construction, preserving the distinctive architectural character of Al-Zubair bin Al-Awwam Mosque — the first mosque in Najran’s old popular market area.

It is one of 30 mosques across 13 regions included in the project’s second phase, which covers six mosques in Riyadh, five in Makkah, four in Madinah, three in Asir, two each in the Eastern Province, Jouf, and Jazan, and one each in the Northern Borders, Tabuk, Baha, Najran, Hail, and Qassim.

Phase two follows the successful completion of phase one in 2018, which restored 30 mosques in 10 regions, the SPA reported.

The project balances traditional and modern construction standards, ensuring the sustainability of mosque components while preserving their heritage and historical features.

Saudi companies and engineers specializing in heritage restoration are leading the development efforts, according to the report.

The project’s four strategic objectives include restoring historic mosques for worship, preserving their architectural authenticity, highlighting the Kingdom’s cultural heritage, and enhancing their religious and cultural significance.

It also aligns with Saudi Arabia’s Vision 2030 by preserving architectural heritage and integrating it into modern mosque designs.