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Renoir Consulting Join Hands With Ittihad International, Develops ESG Framework | |
| Sumita Pawar |
A report says Renoir Consulting, through its ESG Integrate unit, has signed an agreement with Ittihad International Investment LLC (LL Group), a renowned private investment holding company based in Abu Dhabi, UAE.
The project will focus on the development of a comprehensive Environmental, Social, and Governance (ESG) Framework and Roadmap to be implemented across III Group’s entire value chain, it stated.
III Group is speeding up growth in five key verticals that are important for the UAE economy to grow and become more diverse.
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Imad Alfadel, Renoir Consulting’s ESG Practice Lead, said, "We are delighted to support Ittihad International Investment LLC with the development of its Environmental, Social, and Governance (ESG) Framework and Roadmap.
"This agreement reflects the strength of Renoir’s ESG offering as well as rising demand for these services in the Middle East, as companies look to capitalize on the many benefits of managing ESG-related challenges, risks, and opportunities."
Zahi Abu Hamze, Ittihad International Investment’s CFO, said, "This initiative clearly demonstrates III Group’s dedication to promoting sustainability and responsible business practices."
"We believe that practicing sustainability is not only the right thing to do, but it also creates long-term value for our businesses.
"By prioritizing ESG factors in our operations, we are building trust with our stakeholders, including customers, investors, employees, and the wider community.
"We are excited to take this step towards promoting sustainability and responsible business practices and look forward to the positive impact it will have on our company and the wider community."
The UAE is preparing to host the COP28 Climate Conference in Dubai in November and has declared 2023 "The Year of Sustainability," stated the report.
Imad Alfadel added, "As we build towards this hugely significant event, there is a growing awareness that all organizations must play a part in the transition to a more sustainable and inclusive economy."
"We expect that more companies in the region will commit to integrating ESG factors into their operations in order to create enterprise value and have positive effects on both people and the environment."
By developing and implementing an effective ESG strategy, companies can create sustainable value for all stakeholders, attract new investors, build greater trust, manage emerging risks, access capital at a lower cost, tap into growing consumer demand for responsibly produced goods and services, and attract talent, he concluded.