Red Sea Global, All Set To Become A Global Leader In Sustainable Development

The report gave details of the company’s key achievements and its commitment to transparency and accountability.

It said, "The Red Sea and Amaala continue to be internationally lauded for their leadership in the field of sustainable development of their two existing giga-projects."

Both are expected to add about SR33 billion ($8.8 billion) to the economy of the Kingdom each year once they are finished.

"As one of the world’s most visionary multi-project developers and a leader in sustainable development, we know how important transparency is to our business." "Fundamentally, we believe that accountability is the essential currency of sustainable business in today’s world," said John Pagano, Group CEO of RSG.

He added, "We hope our pioneering approach to development, which sees us act first and foremost as global corporate citizens, can provide a clear blueprint for like-minded organisations to follow." The report this year demonstrates that we are committed to more than pledges, and our progress is rooted in tangible actions.

According to the report, because of external appraisals of its ESG performance, the company has become the first development in the Middle East to secure platinum certification under the globally recognized standard for green construction, LEED for Cities, and recognition as the Kingdom’s winner in the World Finance Corporate Governance Awards.

Dr. Maryam Ficociello, Group Chief Governance Officer at RSG, said, "Our approach to development prioritises people and the planet, and as an organization, we are not only committed to delivering a positive impact on the environment and for our local communities but to actively reporting on our successes and challenges, demonstrating good governance to bolster our ESG credentials."

"More recently, Red Sea Global became the first Saudi company to achieve the ISO 37000 certification for good governance, being recognised for operating ethically and effectively at an enterprise-wide level to fulfil its purpose as a business," stated the report.

"Sustainability and the desire to set new global standards in the industries in which we operate are at the heart of each and every one of us at Red Sea Global, and it ripples across our many partners, who collectively contributed to our success," said Raed Albasseet, RSG's Group Chief Environment and Sustainability Officer.

RSG’s flagship project, The Red Sea, is on track to welcome its first guests in 2023, when the international airport and the first hotels will open. Amaala will be opened to visitors soon after, in 2024, the report concluded.

By Sumita Pawar