Saudi Arabia and Clarity AI Collaborate to Develop Sustainability Reporting Capabilities and Framework in the Kingdom

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by KnowESG
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The Ministry of Economy and Planning in Saudi Arabia and Clarity AI, the world's leading sustainability technology platform, have signed a Memorandum of Understanding (MOU) to help businesses in the Kingdom become more environmentally friendly.

Some of the biggest investment firms and businesses in the world use Clarity AI to get insights about the environment and society. This is done with the help of machine learning and big data.

The MOU is a significant step toward the Ministry's goal, which is part of the National Transformation Programme, of getting companies to participate in economic activities sustainably and increase their resilience in the Kingdom of Saudi Arabia by building a strong, long-term connection to the ecological and economic system and not just focusing on short-term profits.

Under the terms of the MOU, the Ministry of Economy & Planning and Clarity AI will:

  • Cooperate and encourage companies’ sustainable participation in economic activities

  • Cooperate in providing environmental and social visions for companies and institutions

  • Exchange experiences in the use of big data techniques and activities related to Clarity AI’s competence, tools, and customisation capabilities

  • Examine ways of cooperation in the field of training Saudi personnel to understand and analyse sustainability data

  • Participate in events and activities of common interest

  • Facilitate discussions between companies and government agencies related to sustainability issues

Rebeca Minguela, Founder and CEO of Clarity AI, added: “Making strides forward in ESG and sustainability is an important part of Saudi Arabia’s National Transformation Programme, and there is a clear commitment to building a business ecosystem that rewards companies and investors intending to create value beyond just financial returns. Bolstering transparency, accountability, and reporting rigour is critical to the Kingdom achieving its sustainability goals.”

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Source: Clarity AI