Sustainable Square, a pioneering UAE-based ESG and sustainability consultancy firm is proud to announce the release of its 2022 Sustainability Report. This marks the fifth consecutive year of transparent and impactful disclosure by the company, reaffirming its unwavering commitment to responsible business practices and environmental, social, and governance (ESG) excellence.
The report sheds light on Sustainable Square’s performance and management, with a focus on the three core pillars of ESG: Environmental, Social, and Governance. Beyond highlighting the company’s achievements, it underscores its dedication to creating value for all stakeholders in a rapidly evolving business landscape.
“As an organisation deeply committed to responsible business practices, Sustainable Square truly walked the talk in 2022. We celebrated a decade of ESG, Climate Change and sustainability leadership in the GCC region and beyond, having partnered with our clients to help them understand the dynamic business environment, scale their impact and conduct sustainable business,” says Group CEO Monaem Ben Lellahom.
Contributing to the reporting process, Sustainable Square stakeholders highlighted the topics material to the organisation, top of which were Business Ethics, Client Satisfaction, Employee Engagement, Digitalisation and Innovation, Community Engagement and Social Impact, Climate Change and Carbon Emissions, and Financial Sustainability. The three-year performance trends have been extensively captured in the report.
Sustainability Strategy
Sustainable Square has executed 170 projects for 120 clients. In 2022, the firm had operations in five markets, spanning the Middle East, Africa and Asia, and attained a client retention rate of 90%, with a Customer Satisfaction Rating of 92.3%, a testament to its focus on value creation for stakeholders.
In 2023, Sustainable Square entered a new phase of growth, driven by technology and expertise, and armed with resilience gained from the lessons of the past decade. The firm has now embarked on a rigorous exercise of articulating its sustainability strategy.
In line with the new strategy, Sustainable Square has joined the SME Climate Hub and is now counted in the United Nations’s Race to Zero campaign, where businesses commit to reaching net zero emissions by 2050. The firm recently signed the UAE Ministry of Climate Change and Environment Pledge for Climate-Responsible Companies, promising to translate carbon neutrality commitment into action.
Sustainable Square also joined the UN Principles for Responsible Investment (PRI) as a Service Provider Signatory, committing to supporting the investment community to embrace ESG considerations in investment decision-making.
Emissions Reduction Plan
Announcing that in the 2023 sustainability report, the firm will for the first time communicate its emissions reduction plan as part of its net zero strategy, Monaem said this year is instrumental for spotlighting sustainability efforts and opportunities in the UAE as the country prepares to host the global climate change summit, COP28.
“Companies in the UAE have an opportunity to scale their climate action through collaboration and participation in this momentous event which will shape the future of this region. For us, climate action is both an agenda for individual businesses and a collective effort, and we want to be part of the ecosystem of businesses moving the agenda from talk to action,” says Monaem.
In its role as a thought leader in sustainability in the region, Sustainable Square has prepared a rigorous speaking and engagement agenda before and during COP28. The firm will be showcasing its innovative sustainability tech products and leading some discussions at Gitex Impact in October. It is the largest event in the MENA Region for sustainability tech, sustainable finance, ESG investments and services, and will bring together over 20,000 sustainability tech leaders from 90 countries.
The Group CEO will also be speaking at the Future Sustainability Forum organised by Dubai International Financial Centre (DIFC) to mark the Year of Sustainability. It is in support of COP28’s 4-pillar plan covering fast-tracking the transition, fixing climate finance, focusing on adaptation, and making COP28 inclusive.
Sustainable Square has also partnered with the Middle East Investors Relations Association (MEIRA) as the ESG Partner for the upcoming 2023 MEIRA Annual Conference taking place in Bahrain in November. Besides the annual event, Monaem will be speaking at the Meira KSA Chapter meeting hosted by the Saudi Stock Exchange, Tadawul, in Riyadh in October.
