New Murabba, a Public Investment Fund company, has announced the launch of its environmental, social, and governance and decarbonization strategies, coinciding with International ESG Day, observed on Nov. 30. These strategic frameworks reinforce New Murabba’s commitment to sustainable development and align with the Kingdom’s Vision 2030.
New Murabba’s comprehensive decarbonization strategy charts a clear path toward a low-carbon future, echoing the goals set out in the Saudi Commitment to Carbon Neutrality by 2060 and the PIF’s pledge for operational net-zero emissions by 2050. This approach aligns seamlessly with the ambitious targets of the Saudi Green Initiative, which seek to significantly reduce greenhouse gas emissions, champion renewable energy adoption, optimize energy efficiency, utilize low-carbon materials, and embrace circular economy principles.
Developed through extensive collaboration with employees, stakeholders, and leadership, New Murabba’s ESG strategy underscores its dedication to responsible and sustainable practices. The strategy outlines clear objectives and actions across three core pillars:
• Environment: minimizing environmental impact through initiatives such as carbon footprint reduction and responsible resource management.
• Social: creating a positive social impact by fostering diversity, equity, and inclusion, prioritizing worker well-being and safety, and upholding strong ethical standards.
• Governance: strengthening corporate governance through robust risk management, transparency, accountability, and responsible leadership.
“We’re proud to launch our ESG and decarbonization strategies, marking a significant milestone in our journey toward creating a sustainable urban destination,” said Michael Dyke, CEO of New Murabba. “Our decarbonization strategy is a testament to our dedication to supporting the Kingdom’s vision for a carbon-neutral future by 2060. New Murabba is committed to leading by example, demonstrating how responsible development can drive positive change for both our community and the planet. We are confident that these strategies will enhance our environmental performance and create long-term value for our investors and stakeholders.”
New Murabba’s dedication to ESG principles and decarbonization strengthens confidence among stakeholders who prioritize sustainable and impactful development. The project’s proactive approach to sustainability positions it as an attractive prospect for those seeking long-term value and positive environmental and social outcomes.
The strategies are intrinsically linked to the UN’s Sustainable Development Goals, supporting key goals such as SDG 11 (sustainable cities and communities) and SDG 13 (climate action).
By prioritizing sustainability in every facet of its design and operation, New Murabba will serve as a model for responsible urban development, inspiring similar initiatives across the Kingdom and beyond.
