ESG Report

COP26 has focused the world’s attention on the need for a more sustainable economic model that ensures profits and growth are not achieved at the expense of ecological health and social well-being. Business and political leaders in Saudi Arabia are increasingly aware of the need to move beyond the bottom line and pursue strategies for long-term value creation that address the needs and concerns of all stakeholders. The country has made a commitment to reach net-zero carbon emissions by 2060. At home, the government is planning to dramatically scale up renewable energy capacity to reach 50% of the domestic energy mix by 2030. This is creating a wealth of opportunities for businesses in other sectors to support the transition, as evidenced by Al Yamamah Steel Industries’ diversification into the production of components for wind and solar energy systems.

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