EMS-Emirates ESG Talks: Governments in the Middle East and North Africa (MENA) are offering incentives to encourage businesses to adopt sustainable practices and achieve their environmental, social, and governance (ESG) goals. For instance, the United Arab Emirates has provided priority parking, accessible and free power points, and free parking for electric vehicles, which indirectly promote the country's green initiatives. However, relying solely on governments and end consumers to drive green initiatives may not be enough. The private sector also needs to step up and take action.
To encourage businesses to adopt sustainable practices, MENA governments have introduced incentive schemes, such as tax cuts and preferred promotion, for companies that take the initiative to reduce their carbon footprint and build greener environments. Despite this, some businesses have been hesitant to adopt such initiatives due to concerns that they may negatively impact their financial performance. However, solutions to this enviro-economic paradox have been proposed by firms like EMS-Emirates. Such solutions address sustainability initiatives from an economic standpoint, enabling clients to achieve both their green goals and their bottom line objectives.
Read on to see the questions answered in EMS's latest interview on sustainability as a profitable practice.
What is ESG?
ESG stands for Environmental, Social, and Governance. It is a framework used by investors, companies, and other stakeholders to evaluate the sustainability and ethical impact of an investment or business.
Environmental factors refer to the impact of a company's activities on the natural environment, such as carbon emissions, waste management, and resource use. Social factors relate to the company's impact on people, including labor practices, human rights, community engagement, and product safety. Governance factors evaluate the company's management and control systems, including the composition and independence of its board of directors, executive compensation, and accounting practices.
ESG criteria are used to evaluate the performance of investments, assess risk, and identify potential opportunities for companies that prioritize sustainability and ethical practices. Many investors now incorporate ESG factors into their investment decision-making processes, and companies are increasingly being held accountable for their ESG performance by stakeholders including investors, customers, employees, and regulators.
Can sustainability be a profitable venture?
Enviro-economical solutions with EMS-Emirates.
Where will sustainability be in 10 years?
*
TechTalks are published bi-monthly to keep you up to date with MENA Sustainability, Green Buildings and their latest innovations.
Moderated by Energy Consulting Department.
Talk lead by Energy Independence Consultant- Omar K. Bushnaq
Participants: Energy Management Services- EMS Consortium for innovative solutions, EEG Environmental Group, Others.
Department: NET Zero & Energy Independence