Red Sea Global (RSG), the multi-project developer behind two of the world’s most ambitious regenerative tourism destinations, The Red Sea and AMAALA, has released its second annual sustainability report, detailing key achievements at The Red Sea over the past year as well as its commitment to transparency and accountability.
“As one of the world’s most visionary multi-project developers and a leader in sustainable development, we know how important transparency is to our business. Fundamentally, we believe that accountability is the essential currency of sustainable business in today’s world,” said John Pagano, Group CEO of RSG.
“We hope our pioneering approach to development, which sees us act first and foremost as global corporate citizens, can provide a clear blueprint for like-minded organisations to follow. The report this year demonstrates that we are committed to more than pledges and our progress is rooted in tangible actions.”
Red Sea Global has become the first development in the Middle East to have secured platinum certification for green construction, LEED for Cities.
The report comes following the company’s recent evolution from The Red Sea Development Company (TRSDC) to Red Sea Global (RSG). The company has been applauded for its leadership in the field of sustainable development, as it works toward the completion of critical milestones in the construction of its two existing gigaprojects.
Dr Maryam Ficociello, group chief governance officer at Red Sea Global said: “Our approach to development prioritizes people and planet, and as an organisation, we are not only committed to delivering a positive impact on the environment and for our local communities but to actively reporting on our successes and challenges, demonstrating good governance to bolster our ESG credentials.”
Furthermore, this year, RSG was awarded a 5-star rating across areas such as policies, materials, water use, and waste management for ESG criteria under the Global Real Estate Sustainability Benchmark (GRESB). This included decoration as a Regional Sector Leader – one of the highest-scoring entities in the Middle East – in recognition of RSG’s strong governance structure and commitment to transparency.
Red Sea Global’s role in supporting Vision 2030
Recently, Red Sea Global become the first Saudi Arabian company to achieve the ISO 37000 certification for good governance, being recognized for operating ethically and effectively at an enterprise-wide level to fulfil its purpose as a business.
The Sustainability Report outlines other positive outcomes RSG has secured in four key areas over the last year including excellence in governance, commitment to protecting and enhancing the environment, positive social impact, and contribution to economic diversification and growth.
The achievements highlight Red Sea Global’s role in supporting the delivery of the kingdom’s Vision 2030 transformation strategy, developing a world-class tourist industry, and opening the kingdom up to global visitors.
According to Raed Albasseet, group chief environment, and sustainability officer of Red Sea Global, “these achievements are the result of the shared ambition, drive, and passion of employees across our business”.
He said: “Sustainability and the desire to set new global standards in the industries in which we operate sits at the heart of each and every one of us at Red Sea Global, and ripples across our many partners who collectively contributed to our success.”
RSG’s flagship project, The Red Sea, is on track to welcome its first guests in 2023 when the international airport and the first hotels will open. AMAALA will be opened to visitors soon after in 2024.
