What Sustainability Progress is Red Sea Global Making?
Regenerative tourism company Red Sea Global’s latest sustainability report shows a growing commitment to nature conservation and renewable energy.
The developer behind regenerative tourism destinations The Red Sea and AMAALA has disclosed RSG’s and its subsidiaries’ key commitments and progress toward ESG goals.
It shows that the company is on track to meet its principal objective of delivering a net conservation benefit of 30% to its development areas by 2040.
In a press release, RSG said: “RSG’s 2023 Annual Sustainability Report, which discloses the organisation’s sustainability performance from 1 January to 31 December 31, 2023, reflects the firm’s commitment to accountability and transparency, as it aims to establish new standards in global responsible development.”
Group CEO John Pagano said: “Our latest Annual Sustainability Report demonstrates that when we say we are committed to setting new standards in responsible development, we truly mean it.”
A real highlights reel
Achievements highlighted in the report include:
- Installing 760,000 photovoltaic solar panels to power the first phase of the Group’s flagship destination, The Red Sea, which opened in 2023
- Becoming the largest off-grid charging infrastructure operator in Saudi Arabia, with 150 electric vehicle charging stations and 82 electric vehicles
- Nurturing more than five million plants at the Red Sea Landscape Nursery since it was established
- Preventing 46,350 tons of CO2 emissions through carbon reduction initiatives
- Pledging a Coral Commitment, to protect and regenerate corals in the Red Sea and beyond
- Transplanting 600,000 mangrove seedlings to four sites in a dedicated Mangrove Nursery
- Launching the Jewar app, a two-way communication channel for RSG to share news and opportunities with the local community, and for them to participate and share their views
- Rolling out a volunteering programme to encourage mangrove planting and beach clean-ups, with more than 200 participants.
About Red Sea Global
Red Sea Global is wholly owned by the Public Investment Fund (PIF) of Saudi Arabia, the sovereign wealth fund of Saudi Arabia, which has estimated assets of US$776bn.
Established in 1971 by Royal Decree, the Fund initially helped establish companies of foundational importance to the Saudi economy.
PIF was relaunched in March 2015, when the Kingdom’s Council of Ministers issued Resolution 270, placing the Fund under the direction of the newly formed Council of Economic and Development Affairs (CEDA), with the Crown Prince, Mohammed bin Salman bin Abdulaziz, as chairman.
RSG is a real estate developer with a portfolio across tourism, residential, experiences, infrastructure, transport, healthcare and services.
This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which is on track to open in 2025.
Three of The Red Sea’s hotels are open, while Red Sea International Airport has been receiving a regular schedule of domestic flights since September 2023.
International flights began in April 2024, with a twice-weekly route between The Red Sea and Dubai International.
A third destination, Thuwal Private Retreat, will open this year, and RSG is also refurbishing Al Wajh Airport, upgrading the existing terminal and infrastructure, and building a new international terminal.
Going beyond sustainability
RSG’s sustainability strategy framework has three strategic pillars, – Governance & Economic, Environment, Social – 10 material topics and 30 subtopics.
The material topics are:
- Natural Capital
- Climate Change
- Resource Management
- Destination Development
- Human Capital Development
- Social Risk Management & Development
- Health, Safety & Security
- Economic Contribution
- Stakeholder Experience
- Governance Excellence.
The report details how the Group is monitoring and reporting against targets across environmental sustainability, social empowerment and governance, revealing strong progress across all categories.
John said: “The work of our team across renewable energy, land and marine conservation and regeneration, social development and clean mobility is proof tourism development can be done another way.
“My hope is that the rest of the industry draws inspiration from our achievements and embeds regenerative principles into their own work.”
He adds: “We’ve done so by prioritising bold commitments with action on the ground helping us to win trust and inspire change.
“This has helped us to go beyond sustainability to strengthen and rejuvenate natural habitats and conserve endangered species. No other organisation has done this on such an enormous scale, something that fills me with immense pride.”
******
Make sure you check out the latest edition of Sustainability Magazine and also sign up to our global conference series - Sustainability LIVE 2024
******
Sustainability Magazine is a BizClik brand
******