Riyadh, Saudi Arabia, 15^th August 2024

King Abdullah Financial District Development and Management Company (KAFD DMC) has officially joined the United Nations Global Compact (UNGC), reaffirming its commitment to fostering sustainable development and responsible business practices.

The announcement was made during a signing ceremony held on Wednesday, August 14, hosted at KAFD Conference Center on the sidelines of a panel discussion which was attended by approximately 100 guests including partners, tenants, and media representatives.

As a participant in the UNGC, the world's largest corporate sustainability initiative, KAFD pledges to align its operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment, and anti-corruption. This strategic decision underscores KAFD's commitment to advancing the Sustainable Development Goals (SDGs) set forth by the United Nations, driving positive impact across its operations and beyond.

Committed to sustainability and climate action, KAFD boasts energy-efficient buildings with 10-15% energy savings compared to conventional structures. Designed with climate solutions in mind, the central Wadi – a pedestrian zone connecting all the areas together – was built lower than street level, ensuring that the temperature in the Wadi is always 8-10 degrees lower than the temperature in central Riyadh. Today, over 40 buildings in the district have achieved Silver and Gold LEED certifications.

“We are proud to join forces with the United Nations Global Compact, signaling our commitment to sustainable development and ethical business practices,” said Gautam Sashittal, CEO of KAFD DMC. He added: “By integrating UNGC principles into our corporate strategy, we aim to not only meet global sustainability standards but also contribute meaningfully to the socio-economic development of Riyadh and beyond.

For his part, Ibrahim Alhelali, Executive Director of the UN Global Compact Network in Saudi Arabia, commented: “KAFD's commitment to the UN Global Compact principles and sustainable development goals marks a significant milestone for the region. By embedding sustainability at the core of its operations, KAFD sets a powerful example for businesses across Saudi Arabia and beyond. We look forward to supporting KAFD in its journey towards achieving these ambitious goals and fostering a sustainable future for all.

The event, part of KAFD 'Spotlight Series,' featured a panel discussion on ‘The Role of Business in Advancing Sustainable Development,’ highlighting KAFD sustainability initiatives and future aspirations. Key stakeholders, including the senior leadership of PwC Middle East Network, UN Global Compact Network in Saudi Arabia, and GBCI, gathered to discuss collaborative approaches to achieving sustainable economic growth and environmental stewardship.”

In collaboration with the UN Global Compact, KAFD remains committed to driving innovation, fostering inclusive growth, and mitigating environmental impacts within the Riyadh community. By joining this global initiative, KAFD aims to inspire industry peers and stakeholders to embrace sustainability as a cornerstone of corporate governance and responsibility.