Home » Green ICV launched by MoIAT to reward companies for adopting sustainable practices

Green ICV launched by MoIAT to reward companies for adopting sustainable practices

by Madaline Dunn

 The Ministry of Industry and Advanced Technology (MoIAT) has announced the adoption of the new Green ICV criteria and bonus within the National In Country Value (ICV) Program to encourage sustainability practices throughout various supply chains.

Announced at ADIPEC 2023, the criteria enables companies to obtain bonus ICV points if they commit to implementing sustainability-related standards and policies. They can gain up to 3 percent bonus on their overall ICV score, giving them a further competitive edge in the procurement process.

Companies and manufacturers are measured based on their practices in sustainability, water management, circularity and emissions reduction. They are also rewarded for obtaining ISO certificates relating to sustainable practices, as well as for obtaining Green Industries Environmental Labelling from the Environment Agency in Abu Dhabi. Manufacturers and service providers can apply for the new bonus starting from October 5th 2023.

Sustainability and competitiveness

This move aims to enhance the competitiveness and sustainability of the national industrial sector in line with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn, as well as the goals of ‘We the UAE 2031’ to achieve self-sufficiency and industrial security, enhance added value in the UAE, raise the competitiveness of national industries, and reduce emissions.

By rewarding companies and manufacturers for participating in national sustainability efforts, the new bonus will incentivize companies to contribute to the UAE’s Net Zero by 2050 strategic initiative as well as to implement circularity.

How to apply

Only ICV certified companies can apply for the new criteria. Companies and manufacturers can apply by evidencing their commitment to sustainability standards and policies. All applications will be independently evaluated.

About the Ministry of Industry and Advanced Technology

The Ministry of Industry and Advanced Technology (MoIAT) was established in July 2020 to boost the industrial sector’s contribution to the UAE’s GDP and drive sustainable industrial development. The ministry was formed by combining the Office of the Minister of State for Advanced Technology, the Emirates Authority for Standardization and Metrology (ESMA), and the industrial department of the Ministry of Energy and Infrastructure.

MoIAT is responsible for formulating policies, laws, and programs that attract foreign direct investment, enhance national added value, support entrepreneurship, create jobs, attract talents, upskill national cadres, promote exports and raise the competitiveness of products manufactured in the UAE. To achieve these objectives, MoIAT has created an advanced national quality infrastructure system.

MoIAT leverages its expertise, capabilities, and resources to strengthen the national industrial ecosystem by facilitating the establishment of industrial zones, promoting the adoption of advanced technologies and the integration of Fourth Industrial Revolution solutions and enabling the growth of priority sectors as well as industries of the future. The ministry’s work contributes to national efforts to build a diversified, knowledge-based economy and achieve industrial self-sufficiency.

The ministry is a key driver of the UAE’s Net Zero by 2050 strategic initiative and is playing an important role in the country’s COP28 agenda.

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