Saudi Arabia is making significant moves towards sustainability and economic diversification by partnering with global entities to uphold industry standards.

In line with this, the King Abdullah Financial District Development and Management Company (KAFD DMC) announced on Wednesday it had joined the United Nations Global Compact (UNGC), a global initiative that promotes responsible business practices and advances sustainable development goals (SDGs).

The partnership underscores Saudi Arabia’s dedication to integrating global best practices into its economic and environmental strategies, marking a pivotal moment in its efforts to foster sustainable growth and development.

By joining the UNGC, KAFD pledges to uphold global standards related to human rights, labor practices, environmental protection, and anti-corruption efforts, marking a major step towards aligning the district’s operations with the UN’s SDGs.

KAFD highlighted its commitment to sustainability, showcasing its energy-efficient buildings, which achieve 10-15% energy savings compared to traditional structures. The central Wadi, a pedestrian area that connects the district, maintains temperatures 8-10 degrees cooler than the rest of Riyadh. Furthermore, over 40 buildings within the district have earned Silver and Gold ‘Leadership in Energy and Environmental Design’ (LEED) certifications.

Gautam Sashittal, CEO of KAFD DMC, said, “By integrating UNGC principles into our corporate strategy, we aim to not only meet global sustainability standards but also contribute meaningfully to the socio-economic development of Riyadh and beyond, in addition to supporting the objectives of Vision 2030.”

The UN Global Compact Network executive director in Saudi Arabia, Ibrahim Al-Helali, said, “KAFD’s commitment to UNGC principles and SDGs is a remarkable milestone for the region.”

“By integrating sustainability in its operations, KAFD sets a robust example for businesses in Saudi Arabia and beyond. We are looking forward to supporting them in their journey towards achieving these ambitious goals and fostering a sustainable future for all,” he added.

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