Putting ESG at the heart of the national agenda

There has been a noticeable rise in sustainability reporting in the UAE, including reporting aligned with the Global Reporting Initiative standards. This is due to the UAE national agenda putting emphasis on ESG investment and sustainability reporting. Its numerous commitments and national vision reflect its leadership ambitions: UAE Net-Zero 2050, Abu Dhabi Vision 2030, UAE Energy Strategy 2050 and the UAE Vision 2021. 

Of the countries surveyed, the UAE saw one of the most significant increases in sustainability reporting, representing growth of 22%

The UAE has made several strides in embracing the sustainability agenda, with key developments highlighted as follows:

• The UAE was the first country MENA region to invest more than AED 600 billion in renewable energy as part of their Net Zero by 2050 initiative.
• Dubai Electricity & Water Authority (DEWA) is executing the world’s largest single-sight solar park, the Mohammed bin Rashid Al Maktoum Solar Park.
• In 2012, the UAE initiated the construction of the Barakah Nuclear Energy Plant in Abu Dhabi to supply approximately 25% of the UAE’s electricity needs and reduce the country’s carbon footprint. 
• The Dubai Green Fund is the first specialized green investment fund in the Middle East and North Africa providing financing opportunities for initiatives that support clean energy transition.
• In 2015, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched Dubai Clean Energy Strategy.