Renoir Con­sult­ing, through its ESG Inte­grate unit, has signed an agree­ment with Itti­had Inter­na­tion­al Invest­ment LLC (lll Group), a renowned pri­vate invest­ment hold­ing com­pa­ny based in Abu Dhabi, UAE.

The project will focus on the devel­op­ment of a com­pre­hen­sive Envi­ron­men­tal, Social, Gov­er­nance (ESG) Frame­work and Roadmap to be imple­ment­ed across III Group’s entire val­ue chain. III Group is fast-tracking growth across five key ver­ti­cals that are cen­tral to the devel­op­ment and diver­si­fi­ca­tion of the UAE economy.

Imad Alfadel, Reynard Limited’s ESG Prac­tice Lead, said: “We are delight­ed to sup­port Itti­had Inter­na­tion­al Invest­ment LLC with the devel­op­ment of its Envi­ron­men­tal, Social, Gov­er­nance (ESG) Frame­work and Roadmap.

“This agree­ment reflects the strength of Renoir’s ESG offer­ing as well as ris­ing demand for these ser­vices in the Mid­dle East, as com­pa­nies look to cap­i­talise on the many ben­e­fits of man­ag­ing ESG-related chal­lenges, risks and opportunities.”

Zahi Abu Hamze, Itti­had Inter­na­tion­al Investment’s CFO, said: “This ini­tia­tive clear­ly demon­strates III Group’s ded­i­ca­tion to pro­mot­ing sus­tain­abil­i­ty and respon­si­ble busi­ness prac­tices. We believe that prac­tic­ing sus­tain­abil­i­ty is not only the right thing to do but it also cre­ates long-term val­ue for our businesses.

“By pri­ori­tis­ing ESG fac­tors in our oper­a­tions, we are build­ing trust with our stake­hold­ers, includ­ing cus­tomers, investors, employ­ees, and the wider com­mu­ni­ty. We are excit­ed to take this step towards pro­mot­ing sus­tain­abil­i­ty and respon­si­ble busi­ness prac­tices and look for­ward to the pos­i­tive impact it will have on our com­pa­ny and the wider community.”

The UAE is prepar­ing to host the COP28 Cli­mate Con­fer­ence in Dubai in Novem­ber and has declared 2023 ‘The Year of Sustainability’.

Imad Alfadel added: “As we build towards this huge­ly sig­nif­i­cant event, there is a grow­ing aware­ness that all orga­ni­za­tions must play a part in the tran­si­tion to a more sus­tain­able and inclu­sive econ­o­my. We antic­i­pate that more com­pa­nies in the region will com­mit to inte­grat­ing ESG fac­tors into their oper­a­tions to cre­ate enter­prise val­ue while deliv­er­ing pos­i­tive impacts for the envi­ron­ment as well as people.”

By devel­op­ing and imple­ment­ing an effec­tive ESG strat­e­gy, com­pa­nies can cre­ate sus­tain­able val­ue for all stake­hold­ers, attract new investors, build greater trust, man­age emerg­ing risks, access cap­i­tal at low­er cost, tap into grow­ing con­sumer demand for respon­si­bly pro­duced goods and ser­vices, and attract tal­ent, he added.