(MENAFN- Mid-East)
59% of UAE residents consider climate change as one of the foremost global challenges
The UAE improved its global rank on the Environmental Performance Index from 77 to 39.
Dubai, UAE: Green Future Project (GFP), a B-Corp providing end-to-end solutions for organizations to develop and implement a corporate sustainability strategy, cites that businesses have significantly increased investments in environmental strategies. A recent survey shows that 51% of companies have strongly adopted measurement and reporting on environmental issues to inform their strategic and operational decision-making, while more than 40% say they have been collecting data for a period of at least two years.
With data showing that 59% of UAE residents consider climate change as one of the foremost global challenges, and 49% view governments as the primary custodian of sustainable futures, the country demonstrated its prioritization of the future at the recently concluded COP28. The $30-plus billion that was pledged to create a fairer climate system by 2030 will bolster the energy transition, industrial decarbonization, sustainable living, and climate technologies with an overarching goal of raising $250 billion to safeguard the environment.
Approximately 100,000 delegates attended COP28 from all over the world, reinforcing human interest in the environment's well-being and also making this year's Dubai edition the largest in the event's history. Zain Tarawneh, Co-founder and Chief Growth Officer at GFP, anticipates a positive trickle-down effect will be seen globally. However, with this global gathering now in the rearview until next year, she says that UAE businesses must step up to ensure that their actions make a tangible impact in the year ahead.
Zain explained:“As the age-old adage goes, 'Don't just talk the talk, walk the walk.' In terms of sustainability, the UAE has done this by achieving a 10% reduction in greenhouse gas emissions (GHGs) from 2019 to 2021 and improving its global rank on the Environmental Performance Index (EPI) – a global rating system that ranks nations based on their environmental health – from 77 to 39 in less than five years. COP28 was another step in the right direction, as the meaningful dialogue between key stakeholders should have a positive, lingering impact on the future – but the time for talk is over. Businesses must now amplify their environmental practices to realize the UAE's vision while remembering that the 'Year of Sustainability' may be ending but the journey towards a greener tomorrow is just beginning.”
In the lead-up to COP28, 96.7% of UAE-based companies planned to either increase their investment in sustainability strategies, maintain current investment levels, or start investing in environmental issues. The other 3.3% were either decreasing their existing investment or had no investment plans at all. On the heels of COP28's impressive turnout, and factoring in that the country is another year closer towards seeing through its 2050 objectives, businesses that aren't investing in an ESG strategy must rethink their business model today to succeed tomorrow.
GFP is helping advance the UAE's green objectives while contributing to key governmental mandates such as UAE Net Zero 2050. The company is working with UAE-based organizations in sectors including digital banking, hospitality, real estate, communications, and finance to help them pioneer sustainable action across the region. Some notable live projects and partnerships include collaborations with companies such as Lune, Atteline, Gulf Capital, Silkhaus, and Sharjah Sustainable City. To date, GFP has helped over 100 businesses globally in its decarbonization journeys while also planting 442,20 1,152 trees, protecting 87.73 hectares of rainforest, planting 231 corals for reef restoration, offsetting more than 31,791.03 tonnes of CO2e, and producing over 16,005,710 kWh of renewable energy.
About Green Future Project:
Green Future Project (GFP) is a B-Corp that provides end-to-end solutions for organizations to develop and implement a corporate sustainability strategy.
Green Future Project aims to be the strategic partner to guide companies in a comprehensive and integrated sustainability journey through a single platform. From monitoring energy consumption and direct and indirect CO2e emissions, to their reduction to implementing solutions for carbon footprint offsetting and supporting environmental projects through specific subscriptions. GFP also offers ESG strategic consultancy to help companies integrate sustainability into their business model.
With a portfolio of high-impact environmental projects, Green Future Project offers the opportunity to finance the regeneration and conservation of natural reserves, the development of renewable energy plants, and the regeneration of marine habitats. The projects are selected based on three fundamental criteria: biodiversity protection, involvement of local communities, and CO2e compensation and sequestration.
Since 2022 Green Future Project has been B Corp certified, and in July 2022 it was awarded The Best For The World in the Governance impact area. In addition to its Milan office, Green Future Project has operations in Abu Dhabi, where it was selected as one of the top climate-tech startups in the region by the Hub71 accelerator and GFP signed a five-year strategic partnership with the Japanese company ITOCHU Fashion System
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