Saudi: KAFD joins UN Global compact to advance sustainable development goals

The King Abdullah Financial District Development and Management Company (KAFD DMC) announced today its partnership with the United Nations Global Compact (UNGC) as part of its commitment to sustainable development and responsible business practices.

The signing ceremony, held at the KAFD Conference Center and attended by around 100 guests, including partners, tenants, and media representatives, marked this significant milestone.

According to KAFD, by joining the UNGC, the company has committed to upholding the ten universally accepted human rights, labour, environment, and anti-corruption principles. This strategic move underscores KAFD's dedication to supporting the UN's Sustainable Development Goals (SDGs) and positively impacting its operations and overall business.

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

Gautam Sashittal, CEO of KAFD DMC, expressed pride in the partnership with the UNGC, emphasizing their commitment to sustainable development and ethical business practices. By integrating UNGC principles into its corporate strategy, KAFD aims to meet global sustainability standards and make meaningful contributions to Riyadh's socio-economic development.

The event, part of KAFD's "Spotlight Series," had a panel discussion on "The Role of Business in Advancing Sustainable Development," showcasing KAFD's sustainability initiatives and future aspirations. Key stakeholders came together to discuss collaborative approaches to achieve sustainable economic growth and environmental stewardship.

According to KAFD, its partnership with the UNGC through joining this global initiative aims to drive innovation, foster inclusive growth, and reduce environmental impact within the Riyadh community.

Source: Staff Writer, Saudi Press Agency