The King Abdullah Financial District Development and Management Company (KAFD DMC) has announced its UN Global Compact membership.
The UN Global Compact (UNGC) is a global initiative aimed at promoting responsible business practices and advancing sustainable development goals (SDGs). Organisations that join the UN Global Compact commit to implementing the ten universally accepted principles regarding human rights, labour, environment and anti-corruption.
According to the Saudi Press Agency (SPA), the announcement was made during a ceremony held at the KAFD Conference Center in Riyadh, which saw the attendance of 100 guests, including partners, tenants, and media representatives.
According to the KAFD DMC, its movement towards promoting responsible business practices includes the construction of energy-efficient residential and commercial buildings, which it said saves 10 to 15 per cent of energy compared to traditional buildings.
Meanwhile, in central Wadi, over 40 buildings in the district have attained Silver and Gold ‘Leadership in Energy and Environmental Design’ (LEED) certifications, it shared.
The UN Global Compact says it is the largest corporate sustainability initiative in the world, with more than 15,000 companies and 3,000 non-business signatories across 160 countries.