- Saudi Arabia launches a non-profit to guide industry and mining firms on ESG practices in line with Vision 2030.
- The association will conduct workshops, campaigns, and initiatives to promote sustainability and social responsibility.
- The move supports Saudi Arabia’s net-zero 2060 target and aims to grow sector contributions to GDP.
Saudi Arabia has established a non-profit organization aimed at assisting industrial and mining companies in implementing high sustainability, social responsibility, and governance norms, thereby promoting the Kingdom’s economic development.
The Ministry of Industry and Mineral Resources declared the formation of the association to enhance awareness among industrial and mining companies and assist them in embracing sustainable and responsible business practices.
Saudi companies are progressively adopting environmental, social, and governance principles to promote sustainable growth, in accordance with Vision 2030 and the nation's goal of reaching net-zero emissions by 2060, strengthening its role as a regional leader in sustainability.
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“The initiative also aims to increase the sector’s contributions and its direct impact on the gross domestic product of the national economy, in line with the objectives of Saudi Vision 2030,” the ministry said in a statement.
The announcement highlighted that the initiative is part of the ministry's larger strategy to support non-profit organizations within the industry and mining fields, emphasizing its conviction in their contribution to promoting economic and social progress in the Kingdom.
It also noted that the association will launch targeted campaigns, execute guidance initiatives, and conduct workshops aimed at ESG indicators, and that the creation aligns with the ministry’s efforts to bolster the non-profit sector and elevate its contribution to the industry and mining sectors.