• 107 listees span 12 categories and 105 companies.
  • UAE-based leaders reign with 54 entries, followed by Saudi Arabia with 20.

Dubai: 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. The QNB Group contributed $3.5 billion to green loans in 2023 and played a pivotal role in coordinating Qatar’s first $2.5 billion green bond issuance in May 2024. Emirates NBD has facilitated over $20.4 billion in green, social, and sustainability-linked transactions since 2021, while Mashreq has set an ambitious goal to facilitate $30 billion in sustainable financing by 2030. Saudi Awwal Bank, meanwhile, aims to grow its sustainable financing and investments to $9 billion by 2025.

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.

Click here for the full list of the Middle East’s Sustainability Leaders 2024.

The Forbes Middle East Sustainability Leaders’ Summit 2024 will be held in Abu Dhabi from October 17-18. To find out more and secure your place, click here.

The Middle East’s Sustainability Leaders 2024

Sector

Top-Ranking Sustainability Leader

Banking & Financial Services

Hana Al Rostamani

Group CEO, First Abu Dhabi Bank (FAB)

Environmental Services

Mohamed Jameel Al Ramahi

CEO, Abu Dhabi Future Energy Company – Masdar

Energy & Utilities

Jasim Husain Thabet

Group CEO & Managing Director, TAQA Group

Food & Agriculture

Abdullah Albader

CEO, Almarai

Green Finance

Said Zater

Group CEO & Managing Director, Contact Financial Holding

Investment & Holding Companies

Yasir Othman Al-Rumayyan

Governor, Public Investment Fund (PIF)

Manufacturing & Industrials

Yasser Zaghloul

 Group CEO, NMDC Group

Oil & Gas

Amin H. Nasser

President & CEO, Saudi Aramco

Real Estate & Construction

Nadhmi Al-Nasr

CEO, NEOM

Technology & Telecom

Hatem Dowidar

Group CEO, e&

Transport & Logistics

Sultan Ahmed bin Sulayem

Group Chairman & CEO, DP World

Travel & Tourism

Ahmed bin Saeed Al Maktoum

Chairman & Chief Executive, Emirates Group

About Forbes Middle East

Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.

Media contact: Basma Aly Sadek – basma@forbesmiddleeast.com