ESG - AHK Sustainability Series – On the Road to COP28
Paving the way to COP28 – our event series on sustainability-related topics is in full swing. On the 24th of May, we had the pleasure to host a session on ESG, a framework to assess a company’s practices and performance on Environmental, Social & Governance factors.
Oliver Oehms opened the session and introduced Andreas Feil, who recently moved to Dubai in his capacity as First Secretary for Climate, Energy, and Environment Policy at the Embassy of the Federal Republic of Germany.
We were very honored to welcome Richard Paton, the Ministerial Advisor to H.E. Mariam Almheiri at the Ministry of Climate Change and Environment who delivered his keynote speech. He mentioned in his keynote that currently, in the UAE, ESG reporting system requirement has been set by market regulators: the UAE Security and Commodities Authority, the Abu Dhabi Securities Exchange (ADX), and the Dubai Financial Market (DFM). Paton stated, that MOCCAE will conduct a critical analysis of tools for ESG reporting, and it is going to develop ESG regulatory structures and develop a strategic implementation plan for those regulations. The likely sectors that would be concentrated on would be similar to the net-zero strategy itself such as power, waste, industry, consultation, and the agriculture industry. Green financing taking ESG factors into account already plays a role in the UAE financial sector as part of the UAE Sustainable Finance Framework.
This was followed by a panel discussion moderated by Oliver Wirth, an internationally certified leadership coach with a strong focus on Sustainability & ESG. Wirth brings to his coaching practice over 25 years of experience working in the Middle East and Africa in both advisory and senior leadership positions and guided the discussion on the “Impact of ESG - from meaningful initiatives to measurable results”. The panel was attended by leading companies of diverse industry sectors.
Leading research-driven biopharmaceutical company Boehringer Ingelheim takes a long-term, sustainable perspective. Ayman Eissa, Head of Sustainable Development – For Generations stated “At Boehringer Ingelheim, we firmly believe that our framework, Sustainable Development – For Generations that started in 1885, is a journey that will never end. We are committed to developing better therapies, enabling healthcare solutions, and contributing to a better world for generations to come. We are driven by the ambition to improve human and animal health, and we will continue to drive innovation, create value in areas of unmet medical needs and engage with communities and societies to change lives for the better.”
Tomas Alonso, CEO of BSH Home Appliances Middle East, one of the world's leading home appliance companies, underlined the company’s strong commitment “At BSH Middle East, we are committed to driving sustainability and ESG initiatives that positively impact our community and environment, paving the way for a greener future. By integrating eco-friendly technologies, reducing our carbon footprint, and fostering responsible supply chains, we strive to create a lasting impact on our community and preserve the environment for future generations”.
Jay Gadhavi, Regional Director Middle East and Africa, represented KROHNE on the panel. The company is offering industrial services and solutions across multiple sectors, supporting the energy transition with engineered measurement technology. Frank Janssens, Vice President, KROHNE, added: “KROHNE around the world has been renowned for over a century as a leader in measurement technology. Our position in the industry means we are perfectly placed to support and drive positive change in our own and our valued customer supply chains. KROHNE, as a family-owned entity, has a vested interest in empowering our customers in a just transition towards net zero and is proud to be AHK’s Sustainability Series partner. Today’s session on ESG allows us to showcase the importance of measurement and metering in putting people and planet before profits through highly-engineered and trusted industrial technology that makes sustainable business decisions easier for our partners.”
The Wilo Group is as well a strong partner of AHK contributing to climate protection with sustainability strategy. Wilo is one of the world’s leading premium suppliers of pumps and pump systems for the building services, water management, and industrial sectors. “At Wilo, our innovative solutions, smart pumps & systems, and individual services move water in an intelligent, efficient, and climate-friendly manner. We are also making an important contribution to climate protection with our sustainability strategy and in conjunction with our partners. The central tenet of this strategy is to provide more people with clean water while simultaneously reducing the ecological footprint.” Explained Yasser Nagi Group Director & Managing Director UAE & Egypt, Wilo MENA.
We were very delighted to welcome once again representatives of the UAE Climate Change Special Envoy who informed during a fireside chat about recent news and developments with regards to COP28. The portal for applications to secure pavilions in either the blue or green zone is open now. The blue zone is the UNFCCC-managed site for the official negotiations and restricted to accredited parties only, whereas private sector companies can express their interest to participate in the green zone playing an active part and showcasing their solutions and innovations tackling the climate crisis.
The session was closed with a future-oriented speech by Pierre Samatis who explained how disruptive tech will accelerate ESG implementation. Samatis stated that Web3 and AI offer great opportunities to enhance ESG initiatives across the board. One example that the technology could be better tracking of environmental impact throughout supply chains and recycling tracking #Circular Economy. Under the social aspect, AI and Crypto can promote financial inclusion and reduce income inequality.
A very insightful session.
Thanks to our sponsors and partners on the road to COP28: