KAFD Commits To Sustainability By Joining UN Global Compact

The King Abdullah Financial District Development and Management Company (KAFD DMC) has announced its partnership with the United Nations Global Compact (UNGC). This collaboration is part of KAFD's commitment to sustainable development and responsible business practices. The signing ceremony took place at the KAFD Conference Center, attended by around 100 guests, including partners, tenants, and media representatives.

By joining the UNGC, KAFD has pledged to uphold ten universally accepted principles related to human rights, labour, environment, and anti-corruption. This strategic decision highlights KAFD's dedication to supporting the UN's Sustainable Development Goals (SDGs) and positively impacting its operations and overall business. Gautam Sashittal, CEO of KAFD DMC, expressed pride in this partnership, emphasizing their commitment to sustainable development and ethical business practices.

KAFD has constructed energy-efficient buildings that achieve 10-15% energy savings compared to traditional structures. The central Wadi, a pedestrian zone connecting all areas within the district, was designed to be cooler than central Riyadh by maintaining a temperature 8-10 degrees lower. Over 40 buildings in the district have already attained Silver and Gold 'Leadership in Energy and Environmental Design' (LEED) certifications.

The event was part of KAFD's "Spotlight Series" and included a panel discussion on "The Role of Business in Advancing Sustainable Development." This discussion showcased KAFD's sustainability initiatives and future aspirations. Key stakeholders gathered to discuss collaborative approaches for achieving sustainable economic growth and environmental stewardship.

According to KAFD, integrating UNGC principles into its corporate strategy aims to meet global sustainability standards. By doing so, KAFD hopes to make meaningful contributions to Riyadh's socio-economic development. The company also notes that its partnership with the UNGC aims to drive innovation, foster inclusive growth, and reduce environmental impact within the Riyadh community.

This partnership underscores KAFD's dedication to sustainability and climate action. By aligning with global standards through the UNGC initiative, KAFD aims to enhance its role in promoting sustainable practices within its operations and the broader community.

The signing ceremony marked a significant milestone for KAFD as it continues its journey towards sustainability. With this new partnership, KAFD is poised to further its efforts in creating a positive impact on both local and global scales.

With inputs from SPA