Bahrain's industrial sector has made significant progress when it comes to adopting environmental sustainability standards, senior executives representing several Bahraini industrial companies have confirmed.

Adhering to these standards will make the sale of the sector's products in domestic and foreign markets easier – while also helping to increase industrial investment in the kingdom.

Ali Alfardan, Head of Environment and Social Governance at Alba, Osama AlHadad, Acting Head of HSE at Garmco and Patrick Pollmann, Group CEO of TAHA International, discussed environmental sustainability in Bahrain’s aluminium industry at a special seminar.

Alba's progress

A particular focus of the talks was on Alba's progress in the areas of governance, sustainability and the environment – as well as the company's related programmes and initiatives. Alba’s significant progress in these areas has laid down a marker for other Bahraini aluminium companies – as well as those operating in regional and international markets.

The seminar's key speakers reflected on how major industrial companies in Bahrain have made significant progress in implementing the ‘circular carbon economy’ concept, noting how environmental and social governance is an essential pillar of the industrial sector’s strategy 2022-2026.

All of the ongoing work falls within the framework of the kingdom's plan to achieve carbon neutrality by 2060. The panelists noted that this trend will ensure the momentum of the industrial sector and its capacity to diversify revenue sources.

Use of resources

The speakers emphasised the need for the efficient use of resources, especially water and energy, and the shift towards a carbon neutral, green economy based on sustainable development. They also reflected upon the importance of adopting environment-friendly technology which provides an essential conduit for the industrial sector in terms of cost reduction and increased competitiveness.

The panelists noted that most international firms (particularly those in the industrial sector) are swayed by a variety of factors when it comes to identifying countries to invest in. Increasingly the most focused upon determiner is the country's development and implementation of legislation supporting environmental and climate issues. These companies recognise that the security and expansion of their industrial investments are directly related to their commitment to environmental and climate issues.

The speakers also discussed “green investment,” which is increasing in popularity and is now very prevalent. As investors seek out investment opportunities that do not harm the environment, renewable energy sources such as solar have become very popular. The speakers observed that several significant “green energy” projects are taking place in Bahrain and that a “green shift” is also occurring; seen through the increased use of electric cars, green bonds (that fund waste recycling initiatives) and water treatment etc.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).