Qiddiya City Releases Inaugural ESG Report, Aligning with Vision 2030

Qiddiya Investment Company (QIC) has released its inaugural Environmental, Social, and Governance (ESG) report for Qiddiya City, outlining a comprehensive strategy to embed sustainability at the heart of the mega-project and support Saudi Vision 2030. The report, announced in Riyadh on June 5, 2024, details a three-year implementation roadmap with ambitious targets across environmental stewardship, social inclusion, and governance, positioning Qiddiya City as a global model for sustainable urban development.

Context and Background

Qiddiya City, a cornerstone of Saudi Arabia’s Vision 2030, is envisioned as a world-class entertainment, sports, and cultural destination. The release of its first ESG report marks a significant milestone in the project’s evolution, demonstrating a commitment to responsible development that balances economic growth with environmental and social responsibility. The report aligns with the United Nations Sustainable Development Goals and Saudi Arabia’s national aspirations for a vibrant society, a thriving economy, and an ambitious nation.

According to Abdullah Aldawood, Managing Director of Qiddiya Investment Company, “Qiddiya City will be a powerful advocate and driver of the national aspirations set out in Vision 2030, actively supporting global initiatives including the United Nations Sustainable Development Goals.” This statement underscores the project’s dual focus on local impact and global leadership.

Key Details

The ESG report outlines more than 25 priority initiatives across 16 material topics, selected after assessing over 100 risks and opportunities and benchmarking against 15 industry peers. Key environmental targets include achieving net zero carbon emissions by 2060, treating 100% of wastewater for recycling, reusing 90% of organic waste as compost, and ensuring 80% of parking slots are equipped with electric vehicle charging capabilities.

On the social front, Qiddiya City prioritizes worker welfare with a comprehensive strategy that promotes employment, health, safety, and inclusivity. The project is expected to create over 325,000 jobs. In line with national female empowerment goals, 40% of headquarters and operations positions and 30% of leadership roles will be held by women by 2030. Accessibility is also a cornerstone: all districts will cater to people with disabilities, limited mobility, or special access requirements, with 100% accessibility in designated public spaces. An affordability program will offer discounted tickets to key entertainment venues, ensuring access for low-income visitors.

Implications and Impact

The ESG framework sets a new standard for large-scale urban developments in Saudi Arabia and beyond. By integrating sustainability into every facet of Qiddiya City, the project aims to attract international investment, talent, and tourism while mitigating environmental impact. It also reinforces Saudi Arabia’s commitment to global climate goals and social progress, enhancing the Kingdom’s reputation as a responsible global player.

Regionally, Qiddiya City’s emphasis on inclusivity and affordability could serve as a model for other giga-projects, promoting equitable access to entertainment and cultural amenities. The focus on worker welfare and female empowerment aligns with broader societal reforms under Vision 2030, potentially accelerating similar initiatives across the Kingdom.

Vision 2030 Alignment

Qiddiya City’s ESG strategy directly supports Vision 2030’s objectives of diversifying the economy, fostering social inclusion, and promoting environmental sustainability. By creating hundreds of thousands of jobs, empowering women, and setting ambitious environmental targets, the project embodies the Kingdom’s forward-looking vision. As Qiddiya City progresses, it will continue to exemplify how sustainable urban development can drive economic growth and improve quality of life, further solidifying Saudi Arabia’s role as a global leader in innovation and responsible development.

20 Questions

Q1. What is the significance of Qiddiya Investment Company’s inaugural ESG report?

A1. The report outlines Qiddiya City’s comprehensive ESG strategy, marking a major step in integrating sustainability into its operations and aligning with Saudi Vision 2030’s goals for a vibrant society, thriving economy, and ambitious nation.

Q2. Who is the Managing Director of Qiddiya Investment Company?

A2. Abdullah Aldawood is the Managing Director. He stated that Qiddiya City will be a powerful advocate and driver of national aspirations set out in Vision 2030, actively supporting global initiatives including the UN Sustainable Development Goals.

Q3. What are Qiddiya City’s net zero carbon emissions targets?

A3. Qiddiya City pledges to achieve net zero carbon emissions by 2060 through initiatives across water consumption, waste management, recycling, and transport. This aligns with national targets and demonstrates a long-term commitment to environmental sustainability.

Q4. How does Qiddiya City plan to manage water resources?

A4. The city aims to treat 100% of wastewater to speed up purification for water recycling. This initiative is part of its broader environmental strategy to minimize water consumption and promote sustainable practices across all operations.

Q5. What waste management targets has Qiddiya City set?

A5. Qiddiya City plans to reuse 90% of organic waste in compost to maintain green spaces. This reduces landfill waste and supports circular economy principles, contributing to the city’s overall environmental sustainability goals.

Q6. How will Qiddiya City support electric vehicles?

A6. The city ensures that 80% of parking slots have electric vehicle charging capabilities. This infrastructure investment encourages EV adoption, reduces carbon emissions from transportation, and supports Saudi Arabia’s transition to cleaner energy.

Q7. What social commitments does Qiddiya City make regarding worker welfare?

A7. Qiddiya City prioritizes worker welfare with a comprehensive strategy boosting employment, prioritizing health, safety, and well-being, and supporting a diverse, inclusive workplace. The project is expected to create over 325,000 jobs, contributing to economic growth.

Q8. How does Qiddiya City plan to empower women?

A8. In line with national female empowerment goals, Qiddiya City will ensure that 40% of headquarters and operations positions, and 30% of leadership positions, are filled by women by 2030, promoting gender diversity and inclusivity.

Q9. What measures ensure accessibility for people with disabilities?

A9. All districts and developments will cater to people with disabilities, limited mobility, or special access requirements, with 100% accessibility in designated public spaces. This ensures an inclusive environment for all visitors and residents.

Q10. How does Qiddiya City address affordability for low-income visitors?

A10. An affordability program offers discounted tickets for key entertainment venues and events, ensuring everyone can access the city regardless of financial means. This promotes social inclusion and broad community engagement.

Q11. How many topics and initiatives are covered in the ESG report?

A11. The report covers 16 topics related to ESG that Qiddiya City can significantly impact, with over 25 priority initiatives. This comprehensive approach ensures a holistic strategy addressing key sustainability areas.

Q12. How was the ESG assessment conducted?

A12. The comprehensive assessment evaluated over 100 risks and opportunities across material topics and was benchmarked against 15 industry peers to guarantee alignment with global best practices, ensuring a robust and credible ESG framework.

Q13. What is Qiddiya City’s role in Saudi Vision 2030?

A13. Qiddiya City is a cornerstone of Vision 2030, serving as a world-class entertainment, sports, and cultural destination. Its ESG strategy supports economic diversification, social inclusion, and environmental sustainability, driving national progress.

Q14. How does the ESG report align with UN Sustainable Development Goals?

A14. The report aligns with the UN SDGs by addressing environmental stewardship, social equity, and good governance. It actively supports global initiatives, demonstrating Saudi Arabia’s commitment to international sustainability benchmarks and responsible development.

Q15. What economic impact is expected from Qiddiya City?

A15. The project is expected to create over 325,000 jobs, boosting employment and economic growth. It will attract international investment, talent, and tourism, contributing significantly to Saudi Arabia’s economic diversification agenda.

Q16. How does Qiddiya City ensure governance best practices?

A16. The ESG report outlines a governance framework that includes benchmarking against industry peers and a comprehensive assessment of risks and opportunities. This ensures transparency, accountability, and alignment with global standards.

Q17. What is the timeline for implementing the ESG strategy?

A17. The report includes an implementation roadmap for the next three years, detailing specific actions and milestones to achieve its environmental, social, and governance targets, ensuring steady progress toward sustainability goals.

Q18. How does Qiddiya City plan to maintain green spaces?

A18. By reusing 90% of organic waste in compost, Qiddiya City will maintain green spaces sustainably. This reduces waste and provides natural fertilization, supporting biodiversity and enhancing the urban environment.

Q19. What inclusivity measures are in place for visitors with special access requirements?

A19. All districts and developments will cater to people with disabilities, limited mobility, or special access requirements, ensuring 100% accessibility in designated public spaces. This commitment fosters an inclusive experience for all.

Q20. How does Qiddiya City’s ESG report set a precedent for other projects?

A20. By integrating sustainability into core operations and achieving ambitious targets, Qiddiya City sets a benchmark for large-scale urban developments. It demonstrates how giga-projects can drive economic growth while prioritizing environmental and social responsibility.

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