Forbes Middle East has released its second annual list of the region’s sustainability leaders, recognizing the trailblazers and visionaries driving sustainable initiatives and innovations with the potential to reshape the world.
The list spans 12 major corporate sectors, with rankings based on a detailed assessment of each company’s sustainability efforts. Forbes Middle East compared initiatives within each sector, factoring in ESG reporting, greenhouse gas emissions, waste management, water and energy usage, and the adoption of renewable energy and energy-efficient technologies. Only initiatives led by companies in the Middle East were considered.
In total, 107 leaders across 12 sectors and 105 companies were recognized for their contributions to advancing the region’s sustainability agenda. The UAE led with 54 entries, followed by Saudi Arabia with 20, Egypt with 10, Qatar with eight, Bahrain and Kuwait with five each, and Oman with three.
Financial investments in sustainability initiatives have surged across organizations in the region, reflecting a growing focus on environmentally responsible practices. Sustainability commitments are gaining significant momentum across organizations in the region. In the banking sector, First Abu Dhabi Bank facilitated $21.2 billion in sustainable and transition projects during the first half of 2024.
In the renewable energy sector, Saudi Arabia’s Public Investment Fund (PIF) signed three joint ventures in July 2024 to localize renewable energy projects, with ACWA Power spearheading the development of 70% of Saudi Arabia’s renewable initiatives under PIF’s program.
In Abu Dhabi, EWEC is working to meet 60% of the emirate's total power demand from renewable and clean energy sources by 2035. Additionally, in March 2024, Masdar acquired a 50% stake in US-based renewable power producer Terra-Gen.
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