The Saudi Ministry of Economy and Planning and Clarity AI, the world’s leading sustainability technology platform, has signed a Memorandum of Understanding (MOU) to assist Saudi businesses in becoming more environmentally friendly.
Some of the world’s largest investment firms and major global businesses use Clarity AI capabilities to provide environmental and social insights powered by machine learning and big data. The MOU is an essential step toward the Ministry’s goal, as outlined in the National Transformation Program, of encouraging companies to participate in economic activities sustainably and to increase their resilience in the Kingdom of Saudi Arabia by establishing a substantial and long-term connection to the ecological and economic systems, rather than focusing solely on short-term profitability.
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.”