The King Abdullah Financial District Development and Management Company (KAFD DMC) announced on Wednesday it has joined the UN Global Compact (UNGC), a global initiative that promotes responsible business practices and advances sustainable development goals (SDGs).
The announcement was made during a ceremony held at the KAFD Conference Center in Riyadh, on the sidelines of a panel discussion on “The Role of Business in Advancing Sustainable Development,” with the attendance of 100 guests, including partners, tenants, and media representatives, reported the Saudi Press Agency (SPA).
UNGC Principles
By joining the UN Global Compact, KAFD commits to implementing the ten universally accepted principles regarding human rights, labor, environment and anti-corruption. This move emphasizes KAFD’s commitment to integrating sustainable and responsible practices into its policies and procedures to further support the UN SDGs.
As part of its commitment to climate action and sustainable development, KAFD has constructed energy-efficient residential and commercial buildings, which save 10-15% energy compared to traditional buildings. Furthermore, it has established the central Wadi, a pedestrian green open area that connects all regions, taking into account effective climate solutions.
KAFD Commitment to SDGs
On this occasion, the CEO of KAFD DMC, Gautam Sashittal, expressed his pleasure to join the UNGC, stressing KAFD’s commitment to reinforcing sustainable development and ethical business practices.
He 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.”
Similarly, the executive director of the UN Global Compact Network 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 is setting 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.
