Social and environmental impact
We serve the Kingdom and create lasting value for our stakeholders, by integrating sustainability into all aspects of our operations.
Sustainability at SEDCO
We are extending our impact to millions of Saudis through the groundbreaking work of Riyali, Rowad, and SBMF.
Throughout our almost five decades in business, we have been dedicated to serving the Kingdom and creating lasting value for all our stakeholders. We do this by integrating sustainability into all aspects of our operations; from investment decisions to the corporate culture we uphold.
In making this vision a reality, we employ a sustainability framework based on the three pillars of Environment, Society, and Governance (ESG), and are in the process of formalizing an ESG strategy that is seamlessly integrated with SEDCO’s strategic plan.
How we measure success (Materiality)
In 2021, SEDCO conducted a materiality assessment of local, regional, and global peers to better understand the ESG space and establish a baseline for materiality and sustainability. Based on results of the initial materiality assessment, we conducted stakeholder discussions with senior management and created SEDCO’s sustainability framework, which was presented to the Board in 2022. The framework reflects significant material topics that are aligned with Saudi Vision 2030 and informed by a number of the Sustainable Development Goals (SDGs) where SEDCO’s expertise can have the greatest impact within the Kingdom.
In 2023 we worked on developing an ESG Strategy that includes the creation of KPIs that support us to measure the success and progress against this framework. While implementing sustainability projects and tracking our impact, we also identified new initiatives to explore and areas for improvement. We are now in the process of introducing formal ESG-related KPIs for our teams, which are linked to our strategy.
Engaging our stakeholders
By actively engaging with all stakeholder groups, addressing their needs, and keeping them informed about the Company and its activities, we can better identify opportunities for collaboration and meaningful interaction. A table on SEDCO’s channels for communicating and engaging with stakeholders is presented in the online report.
