Saudi Arabia's Rawabi Holding has chosen sustainability fintech leader World Wide Generation's G17Eco platform to streamline and standardise sustainability reporting across its global operations, companies and projects, solidifying its commitment towards environmental responsibility.
Rawabi Holding, a leading global provider of Energy, Industrial, Contracting and Real Estate services will leverage WWG services of digital monitoring, reporting and verification processes to ensure transparency and fast-track effective sustainable solutions at scale.
WWG's cutting-edge G17Eco platform unlocks trusted, comparable and real-time data and impact measurement to empower organisations and nations to map, monitor, measure, manage, and market their sustainability performance with unparalleled transparency. Through G17Eco, Rawabi Holding and its subsidiaries will gain invaluable insights into the social, economic and environmental impact of the Group’s operations, enabling informed decision-making and maximising their sustainability efforts.
The agreement, signed at COP 28, the global climate change conference held in Dubai, UAE, reinforces Rawabi Holding and Magnom Properties' commitment to mitigating climate change through innovative solutions.
World Wide Generation, which has a presence in the UK, Europe and Singapore, marked its entry into the Middle East in 2023 with the announcement of a global partnership with Etisalat (e&) to launch the world’s largest and truly global sustainability data, finance and solution exchange. The cloud-based G17Eco platform, powered by innovative technologies such as data bots, distributed ledgers and AI, integrates over 3,000 ESG metrics and 50 frameworks into a unified digital taxonomy. This integration significantly reduces the time, cost, and risks associated with data disclosure, enabling real-time data sharing with all stakeholders such as suppliers and their clients, assurers, rating agencies, financial institutions, stock exchanges and regulators, all from one interoperable platform.
Abdulaziz Ali AlTurki, Chairman of Rawabi Holding Group and Magnom Properties, said: “As we pioneer sustainability in diversified sectors, our collaboration with World Wide Generation reinforces our commitment to driving innovation to secure a more sustainable future. By integrating cutting-edge technologies and leading sustainable practices into the Group companies and Forbes International Tower, we aim to set a precedent for environmentally responsible and socially conscious energy operations as well as real estate development”.
Othman A. Ibrahim, Rawabi Holding Vice Chairman and Group CEO of Rawabi Holding and Vice Chairman of Magnom Properties added: “Sustainability at Rawabi Holding Group is a business strategy, and as leaders in the energy, industrial, contracting and real estate sectors, sustainability has always been one of the main factors in our decision-making process. Our partnership with World Wide Generation further amplifies our commitment to sustainable practices and propels us towards a future where assets are designed, built, and operated with a focus on both environmental responsibility and human well-being”.
Manjula Lee, CEO and Founder of World Wide Generation said: “WWG has been cultivating our partnership with Rawabi Holding for the past year and we are so excited to see what was originally an Oil and Gas company pivoting and transitioning quickly to make all of its businesses across energy, industrial, construction, shipping and offshore services along with investments both sustainable and renewable. We are thrilled to have been selected as their sustainability reporting platform and to enter the MENA region with such a lighthouse partner”.
Rawabi Holding operates within different lines of business: energy, contracting, industrial and real estate services, which aligns with Saudi Arabia’s economic diversification strategy.
This strategy was designed when the company was restructured in 2000. Part of the strategy is to grow internationally, while always carrying the Saudi flag, managing global operations in countries including Singapore, Indonesia and Canada.
Rawabi Holding’s real estate arm, Magnom Properties, is building an innovative and environmentally responsive tower, named the Forbes International Tower, in the New Administrative Capital in Cairo, Egypt with plans to build the tower in Saudi Arabia and UAE. This is the first commercial tower to carry the Forbes name. The upcoming Forbes International Tower has set its sights on becoming the first project worldwide to be powered by safe and emissions-free Liquid Organic Hydrogen Carrier system (LOHC) technology. Following a partnership with Schneider Electric, a leader in energy management and automation, and H2-Enterprises, a global hydrogen generation and energy storage solutions company. This will meet 75% of the total energy demands of the Tower with the remaining 25% coming from solar energy harnessed from the photovoltaic-laced design of the building. The power generation from 100% clean resources will lead to savings of 1.8 million kg of CO2 emissions annually.
As for water usage, 74% of the Tower’s needs will be met through water recycling and treatment while grey water will be reused for non-potable uses. Rainwater collection systems and smart monitoring technologies will further consolidate responsible water usage, translating to savings of 9.4 million litres of water annually.
In addition, the Forbes International Tower will increase the percentage of construction materials with low-embodied carbon to reduce carbon footprint by 58%, equivalent to 60 million kg of CO2 emissions. Recycling is also a critical pillar of the sustainable vision of the Forbes International Tower, which is aiming for a Platinum LEED certification.
ENDS
About Rawabi Holding Company
A leading global provider of products and services to a diversified range of key industries, with a focus on the Energy, manufacturing, Contracting and Industrial Sectors. Through its fully owned subsidiaries and controlled companies, Rawabi Holding provides diversified products to the upstream, downstream, and midstream sectors in the oil and gas industry supported by a wide range of oilfield services that cover drilling, intervention and production activities. Additionally, the group operates a large young fleet of offshore service vessels and jack-up barges in the MENA, South America, and the Far East.
Now with recent progressions, Rawabi Holding has also ventured into sustainable real estate in collaboration with the eminent architecture company Adrian Smith + Gordon Gill to oversee real-estate development projects in KSA, GCC, and MENA regions through its real-estate arm, Magnom Properties.
About Magnom Properties
Transcending physical borders, Magnom Properties, a subsidiary of Rawabi Holding Group, established in 2021, is setting new benchmarks as part of its pioneering role in redefining the real estate sector by overseeing the construction of high-value commercial, residential and lifestyle projects in KSA, Egypt and the wider MENA region. The company is focusing on creating dynamic environments and developments, which will cater to the rapidly evolving lifestyles, and aspirations of businesses and industries for future generations. To ensure that the core values of quality, reliability and sustainability are followed across all future projects with Platinum LEED certification, Magnom Properties is partnering with global experts including world-renowned architects, Adrian Smith, Gordon Gill and Robert Forest, representing their international design firm, Adrian Smith + Gordon Gill Architecture (AS+GG Architecture), to build one of the most sustainable towers worldwide in Egypt's New Administrative Capital (NAC). The Forbes International Tower, a new zero-carbon commercial tower developed in Cairo, Egypt, by Magnom Properties in partnership with Forbes, was awarded the Luxury Commercial Project of the Year by Design Middle East KSA Awards this year. For more information, please visit Magnom Properties on:
http://magnomproperties.com/ For media enquiries, please contact: Krisha Doshi Senior Account Executive House of Comms