Forbes Middle East Unveils 2024 Ranking of Sustainable Development Leaders in the Region
Forbes Middle East has published the second edition of its ranking of sustainable development leaders in the Middle East. For 2024, 107 leaders from 105 companies across 12 sectors are featured, all of whom have contributed to the region's sustainability program. The ranking is led by 54 companies from the United Arab Emirates, followed by 20 from Saudi Arabia, 10 from Egypt, 8 from Qatar, 5 from Bahrain and Kuwait, and 3 from Oman.
As financial investments in sustainability initiatives have seen a significant increase in various regional institutions, this reflects the growing emphasis on responsible environmental practices. Sustainability commitments are also gaining importance across numerous sectors. In the banking sector, First Abu Dhabi Bank has provided $21.2 billion in financing facilities for sustainable and transition projects in the first half of 2024.
Furthermore, QNB Group has extended green loans worth $3.5 billion until 2023 and played a key coordinating role in the issuance of Qatar's first green bonds, worth $2.5 billion, in May 2024. Since 2021, Emirates NBD has provided over $20.4 billion for green and social transactions related to sustainability projects. Additionally, Mashreq plans to offer $30 billion in sustainable financing by 2030. Saudi First Bank aims to increase its sustainable financing and investments to $9 billion by 2030.
