By David Beer, Industry RE Sustainability, Nov 2011 Tweet
IndustryRe Sustainability releases key business sustainability survey at the annual Future Green exhibition in Dubai organized by Goumbook.
The Middle East faces a challenging future as sustainability issues intensify in the face of resource shortage and climate change. According to the results of a recent survey, businesses in the region are beginning to recognise the importance of embedding sustainability strategies into their business plans but there is still a lot of work to be done.The results of the four-month project, the first sustainability report of its type, were released at this year’s Future Green exhibition published in the form of a ten page document.
Organised by Goumbook, the annual event took place on November 1stand was designed to encourage businesses in the UAE to adopt and implement green policies and better sustainable strategies. Attendedby local and international businesses, the event was supported by the Abu Dhabi Environment Agency (EAD), the Emirates Wildlife Society (EWS-WWF), Dubai Energy and Water Authority (DEWA) and the Environmental Centre for Arab Towns.
The survey, a key learning resource for the exhibition, is the fruit of a successful partnership between Goumbook and IndustryRE, an internationally renowned sustainability consultancy. The two organisations teamed up to evaluate the key sustainability challenges in the Middle East, assess the current level of preparedness and make recommendations to support the region in its transition to a low-carbon sustainable future.
A wide range of businesses were surveyed across the region to gain a deeper insight into sustainable business practices and the current key challenges faced by these organisations. 61.5% of companies said they were putting together sustainability strategies, which included considering energy-use, raw materials and resource consumption, supply chain, transport, waste minimisation, climate change, community engagement and environmental risk.
While putting these strategies together is a move in the right direction, very few companies had fully embedded sustainability into the foundations of their organisations. The results of the survey enabled Goumbook and IndustryRE to form a good picture of how much progress companies had made towards achieving full sustainability and make recommendations for true transformative sustainability and business resilience in the face of monumental challenges.
Ahmed Detta, Managing Partner, Industry RE said: “Wealways stress to companies the importance of adopting a collaborative approach to sustainability that stretches right across their value-chain. Companies in the region must make sure they are adapting and integrating sustainability into their core business activity. If companies have the right data, financial appraisal process and business strategy they can build business resilience and gain competitive advantage. If they pick the wrong signals it can lead to increased Opex, Capex and future cash flow pressures.”
Tatiana Antonelli Abella, Co-founder and Managing Director of Goumbook FZ LLC, said: “Businesses need to view risks and opportunities through a new lens. The success of Future Green 2011 and the positive responses to our survey and report is a wake-up call to realise the importance of environmental sustainability. We understand that creating a green community also comes from supporting the communities we serve. To achieve this, we recognise it is absolutely essential to support, educate and engage with local businesses. If we want to overcome the challenges of the future, it is essential for our businesses to be as sustainable as possible.”