The American Chamber of Commerce in Saudi Arabia launched a new committee this week to help companies meet their green goals.
The American Chamber of Commerce, or AmCham Saudi Arabia, launched the committee in order to help different companies meet goals across both environmental and social responsibility.
Known as ESG, Environmental Social and Corporate Governance is a set of standards measuring a business’s impact on society and the environment, and how transparent and accountable it is. ESG has become a big part of businesses lately.
Several leading diplomats, academics, and business officials took part in a panel discussion to discuss ESG strategies, plans, and reporting.
Julie LeBlanc, the U.S. commercial consul for the western region, said American businesses were committed to supporting the Kingdom’s plans on this front. LeBlanc said the U.S. is committed to supporting the Saudi goal outlined in Vision 2030 to diversify its economy away from oil, which includes investments in green energy.
Major American companies, which are leaders in ESG, were a part of the panel event, including Pepsi, Underwriters Laboratories, and AspenTech.
CEO of SAWACO Water Desalination Nizar Kammourie moderated the panel in Jeddah. He said the ESG committee would help raise awareness in the business sector on the need for firms to operate in a socially responsible manner.
“By doing so, the AmCham ESG Committee aims to pave the way for US businesses to explore new venues for opportunities in the Saudi market,” he said.
At the event, panelists shared the sustainability measures their companies had adopted. Pepsi’s sustainability lead Tala Alem said Pepsi looks at everything the company is engaged in, including its entire value chain, and creates a sustainability framework to be applied in each country.
“In Saudi Arabia, we take into consideration several areas which include agriculture and climate impact, plastics usage and its packaging as well as social and community responsibilities,” Alem said.
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