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SOCIAL AND ENVIRONMENTAL IMPACT
FULFILLING OUR SUSTAINABILITY PROMISE
We are committed to building a sustainable legacy for the Kingdom and our stakeholders
Since our formation, sustainability has been at the heart of our mission as we serve the Kingdom and create lasting impact for all our stakeholders. In alignment with Saudi Vision 2030 and the UN’s SDG goals.
Our Sustainability Framework, built on the three core pillars: Environmental, Social, and Governance (ESG), serves as a guiding lens for our business units and teams. We are committed to continuous improvement and are currently refining this framework through the development of SEDCO’s ESG strategy.
Environmental Pillar
Be’aty
Internal environmental program
launched in
2019
Social
Badir
Employee volunteering program
launched in
2017
Unbod
Employee wellness program
launched in
2018
Rowad
Entrepreneurship training program
launched in
2022
Salem BinMahfouz Foundation
(SBMF)
Foundation for community advancement
launched in
1996
Riyali
Foundation for financial literacy
launched in
2012
Our ESG Journey (Materiality)
In recent years, our materiality assessments have informed the development of an initial ESG Framework, which has now evolved into a comprehensive strategy. This strategy is guiding the implementation of formal ESG KPIs across SEDCO’s business units. We consistently produce sustainability reports in alignment with GRI Standards, and are proud to have released our second integrated report. Furthermore, we maintain our commitment to external validation by regularly renewing our private rating on the MSCI ESG Rating Index.
Building Stakeholder Relationships
Effective stakeholder engagement involves actively addressing the needs of each group and keeping them informed about the Company’s activities. This allows us to identify opportunities for collaboration and meaningful interaction. A table detailing SEDCO’s stakeholder communication channels is available on page 59 of the report.
Foundation of Sustainability: Our ESG Framework
CORPORATE GOVERNANCE FRAMEWORK:
Our drive to improve the structure of rules, practices, and processes used to direct and manage the Company. Includes our approach to ESG governance.
SUSTAINABLE INVESTMENT:
Practicing responsible investment through our core business, with a focus on impact and long-term value-creation. Incorporating investment criteria that is ESG-informed.
Climate, Energy, and Water:
Reducing emissions, and minimizing water and energy consumption.
Circularity:
Sustainable sourcing and waste management.
Environmental Pillar
Promoting environmental sustainability within our operations
Human capital development:
Creating a safe work environment and investing in our people.
Community empowerment:
Responding to community needs through social programs.
Social Pillar
Empowering our people and communities to succeed.
Transparency and disclosure:
Enhancing corporate disclosure and engagement with stakeholders.
Governance Pillar
Upholding robust governance practices aligned with our core values
Driving Vision 2030 with a Global Focus
Vision 2030: Ambitious Nation
Whilst driving enhanced focus on ESG across our portfolio companies, our social and volunteering programs such as Badir, and supported foundations, such as SBMF, are delivering on our social responsibility and growing the non-profit sector.
Our environmental initiatives seek to minimize our environmental footprint, playing our part in climate action
We are committed to creating a healthy and safe workplace that is diverse and inclusive; with stand-out programs, such as Unbod, which contribute to employee wellbeing.
Vision 2030: Vibrant Society
Focused investments in hospitality, tourism, education and healthcare sectors are improving access and quality of services. Within SEDCO, our efforts to uphold health and wellbeing of employees, initiatives to promote environmental sustainability, and actions to increase transparency, are contributing to a vibrant society.
Volunteering programs such as Badir, SEDCO’s Journey of Giving, and projects from SBMF are contributing to poverty reduction, food security, and community development.
Quality education remains a priority for SEDCO, as we continue to invest in the Education sector, while also pioneering inclusive and innovative learning opportunities such as Riyali and Rowad.
Vision 2030: Thriving Economy
Our investments support diversification of the economy, help grow and localize key sectors, bolster local companies, and develop economic ties and partnerships. Our award-winning initiatives such as Riyali and Rowad empower youth, help nurture entrepreneurs and SMEs. Within SEDCO, we are developing capabilities of the Kingdom’s human capital and working to increase diversity.
Through adoption of Shariah principles and continual improvement of disclosure, stakeholder engagement, and corporate governance; we are building a transparent, accountable, and responsive institution that ensures ethical engagement with all actors.