Arabian Business is proud to present Sustainability Heroes, our list celebrating the top companies in the Middle East that are leading the way in sustainable business practices.
As representatives from around the world gather in the UAE for COP28 to discuss tackling climate change, this list shines a light on some of the firms in our region that are making a tangible difference.
Whether it’s investing heavily in renewable energy and green technology, implementing ambitious carbon reduction targets, or spearheading innovative sustainability programmes, the companies on our Sustainability Heroes list are demonstrating how business can power positive environmental and social change.
From shifting to an entirely renewable energy mix to championing, these firms are raising the bar for sustainability in the industries and helping accelerate the transition to a greener economy.
By highlighting their achievements, we hope more businesses in the Middle East will be inspired to follow their lead. COP28 provides the perfect platform to showcase the efforts of our Sustainability Heroes as world leaders discuss accelerating climate action. Their pioneering work gives us hope that by working together, we can build a more sustainable future for all.
NAME: Sebastian Carlton
DESIGNATION: CEO and founding partner
NAME: Cenk Yabas
DESIGNATION: CTO and founding partner
COMPANY: Pure Impact Capital / Pure Food Technology
INDUSTRY: Food technology
COUNTRY: UAE
In the realm of ESG and sustainability, Carlton emphasises the pivotal role the private sector plays in the broader context.
He explains, “As investors worldwide demand greater transparency and alignment of companies’ strategies with ESG policies, private investors have an increasingly important role to play in ensuring their investments are held to the same standards. To unlock this wealth in terms of ESG compliant investments, alignment to the UN Global Compact, transparency, choice, and trust are pre-requisites.”
High net-worth wealth individuals and family offices are in the unique position to drive ESG investment criteria as this group tend to have deep pools of capital and multigenerational objectives that support long-term strategies.
The importance of partnerships
The ‘Race to Zero’ initiative championed by COP26 presented an opportunity for industries to establish their own partnerships to make net-zero ‘mission possible’, adds Yabas. “When we add this initiative to potential private public partnerships, we can generate generational change in terms of deliverable ESG impact.”
In order to achieve a carbon neutral future, it is imperative that the private sector not only aligns with government and public sector targets and objectives, but that there is motivation on both sides to form new and powerful partnerships across industries and sectors in order to achieve such goals.
“The critical issue is that both the private and public sectors have a mechanism for reaching out and engaging with each other in order to embrace new and innovative technology, and then are able to form partnerships for change in order to implement such projects.”
Key ESG and sustainability initiatives
With less than five percent of arable land in the UAE, it is impossible with traditional farming technology to achieve food security.
“We have studied the GCC/desert environment and identified the key challenges and opportunities in terms of developing sustainable solutions to food security,” Carlton says, and with negligible arable land and scarcity of water, the only way the UAE can achieve food security is via some form of hydroponic vertical farming.
“It is useful to consider the way in which hydroponic vertical farms can solve yield and sustainability issues compared to other forms of farming,” he says.
“Pure Food Technology has developed an advanced hydroponic vertical farm system that utilises Reverse Osmosis, AI, Robotics, 3D Printing, unique solutions for chillers and de-humidifiers with net zero power impact due to the use of a patented co-generation Solar Farm solution.”
Vertical versus traditional farming
The field of vertical farming is growing exponentially and according to Deloitte, is expected to grow to a $10 billion industry by 2025. Vertical farming, explains Yabas, uses space in a hyper-efficient way, maximising each square metre of food growth platform to grow up to 100 times more yield, which prevents deforestation and therefore, also increases biodiversity.
“As most vertical farms can produce up to 100 times the crop yield of traditional farming, requiring one percent of the land resource, but this does not mean that they are terribly efficient in terms of GHG emission as most vertical farms and greenhouses are using huge amounts of electricity from the grid,” he says.
“Pure Food Technology has developed a unique system that utilises full solar power, in one single module farm, the amount we save on emissions from using solar energy compared to a greenhouse or other fossil fuel powered vertical farm, is multi-fold. “Vertical farming is a much more environmentally friendly solution in terms of GHG emissions than traditional farming and greenhouse farming subject to the system being used and the sustainability of power, water usage, chillers, and dehumidification.”
He explains, “Our system holds 11 unique patents, and we have several patents in process. We use 95 percent less water than traditional farming; we require 1 percent of the land resource. We are completely sustainable, utilising 100 percent solar power for energy requirements of LED lights, chillers, and de-humidifiers.”
With operational costs at a fraction of competitors, whether utilising greenhouse or vertical farm technology as Pure Impact has developed, they design and manufacture all their system technology in-house including the 3D printing of plumbing and robot parts.
Business leaders advocating sustainable practices
Carlton believes that they are experiencing a new era of corporate responsibility. He says, “The biggest pitfall of corporate sustainability programmes is that they are not embedded into the core of the business to make meaningful, systemic, and long-term value creation. At Pure Food Technology, we align our business philosophy and practices with the UN Global Compact and as such, we do our very best to ensure that when making business decisions, we focus on the principle of ‘triple bottom line’; People, Profit, Planet.”
Pure Impact’s solution to food scarcity
As a technology driven, sustainable solution provider, Carlton reveals that their current mission is to solve food security in the UAE and wider GCC area using unique, newly developed, disruptive technology for the desert environment.
“Pure Food Technology has developed a new robotic technology that requires 95 percent less water. We can utilise any water source, seawater, brackish water, or city water, requiring just one percent of the land resource because we can deliver 100 times the crop yield by implementing our technology compared to traditional farming. Our system is 100 percent sustainable, utilising solar power for all energy and system requirements.”
Pure Impact has developed a system that could provide all calorific requirements for the GCC region and potentially the world, thereby solving critical food security issues whilst protecting the planet from undue environmental harm.
Yabas adds, “As such, Pure Food Technology have incorporated the ‘Fourth Industrial Revolution’ in the design and implementation of an environmentally friendly and sustainable solution for food security.”
Visit www.purefoodtechnology.com and www.pureimpactcapital.com for more details.
NAME: Phil Malem
DESIGNATION: CEO
COMPANY: Serco Middle East
INDUSTRY: Public services
COUNTRY: UAE
With COP28 approaching, Phil Malem, CEO of Serco Middle East explains that as a company, Serco is doing everything in its power to drive change and reach net zero emissions with an overarching goal of impacting a better future.
Decisive, innovative, and collaborative action are needed when it comes to sustainability within the Middle East, says Malem. He adds, “We firmly believe that the private sector, including Serco, has a crucial role to play in aligning our businesses with the imperative of a sustainable future. This commitment is not only in line with global expectations but also with the local governments’ visions.
“Serco has been on this path for a significant period and the upcoming COP28 also presents an excellent opportunity to showcase the Middle East’s potential for leading with innovative and disruptive thinking to address global challenges.”
The ambitions of GCC nations toward achieving a zero-carbon footprint or carbon-neutral economies are both commendable and necessary, he says.
“Countries like the UAE and KSA have set ambitious commitments, and it’s encouraging to see these aspirations.” Serco partners with governments to support them on their journey towards achieving net zero. “Environmental protection is integral to our operations, and we are committed to initiatives that reduce our carbon footprint and preserve the natural world for future generations.”
Malem points out one example of this is that Serco recently launched the Serco Forest, an initiative aimed at actively contributing to the UAE’s goal of planting 100 million mangroves by 2030.
“By planting mangrove trees at the Jebel Ali Marine Reserve, we not only protect coastal communities and stabilise soil but have already helped remove 12.5 tonnes of CO2 from the atmosphere,” he says.
Leadership commitment to ESG
He places emphasis on the importance of purpose within an organisation. “As we know, purpose is what brings meaning and direction to our lives. It’s that driving force that keeps us motivated, focused, and fulfilled. But purpose isn’t just personal. At Serco, our purpose of Impact a Better Future sets the tone for our culture, shapes our mission, our values, and the impact we have on society and the region. Purpose is what attracts both our customers and our exceptional employees. In today’s world, people are drawn to organisations that align with their values, ones that contribute to a greater good.”
Malem firmly believes that as leaders, there is a responsibility to drive meaningful change and advocate for sustainable practices. He explains, “ESG isn’t just about compliance; it’s about doing the right thing for our people, communities, and the environment. This commitment informs every leadership decision I make. It’s about setting an example, fostering positive, purposeful impact, and aligning our actions with our values.”
About Serco
Serco has been operating in the Middle East since 1947 and has a profound understanding of the region, delivering public services to customers on behalf of governments, semi-governments and large private corporations. Boasting a project portfolio that includes Dubai Airports-Guest Experience, Red Sea Development-Sustainable Mobility, Royal Commission of Al Ula-Advisory, Australian Defence Force-Middle East Logistics and Base Operations, and Zayed University-Asset and Facilities Management, Serco is also a member of the UAE Alliance for Climate Action (UACA).
NAME: Sunil Kaushal
DESIGNATION: CEO
COMPANY: Standard Chartered Africa and Middle East
INDUSTRY: Banking
COUNTRY: UAE
As global leaders descend on Dubai for COP28, the relevance of globalisation is clear, says Kaushal. “Climate change remains a global problem that requires a global solution.” He believes that the future of globalisation lies not in its abandonment but in its transformation. He explains, “The current challenges underscore the need for a collaborative, forward-thinking approach that addresses climate change, social inequality, and economic disparities. A reset of globalisation based on sustainability, inclusivity, and shared responsibility is not just a choice; it is a necessity.”
The UAE has announced a national drive to achieve net-zero emissions by 2050 and is now hosting the most significant international event on climate change. Held under the theme of ‘unite, act, deliver’ the commitment to cooperation and actionable outcomes to achieve these net zero targets is clear, says Kaushal. Through coming together, global leaders can support developing markets, which have disproportionately struggled with achieving both climate adaptation and transition goals.
“To tackle these challenges, there are several areas that need to be addressed,” he says. “Global governance must be established to set a shared direction for establishing targets, developing regulations, and enabling the flow of capital to where it is needed.” There is also a clear and immediate need for better measurement and transparency of ESG investments to encourage investors who are currently deterred by the lack of standardisation around disclosures. “Policy must be adapted to build sustainability into cross-border trade, including explicit provisions on climate change in trade agreements.”
Trade is the driving force of globalisation, but the world requires a more sustainable and inclusive model, he explains. “The public and private sector need to work together to ensure the right mix of policy, technology adoption and incentives are in place to encourage companies of all sizes to move in the right direction, helping SMEs which have too often been excluded from the global supply chain.” He also believes that a critical factor in supporting the transition is that of capital deployment. He adds, “It is critical to ensure the global flow of capital reaches markets where it is needed most. Addressing this requires a combination of public and private capital, impactful policy initiatives, and greater cross-border collaboration.”
About Standard Chartered
Standard Chartered is a leading international banking group, with a presence in 53 of the world’s most dynamic markets, and serving clients in a further 64. Its purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
NAME: Abdulnasser Ibrahim Saif Bin Kalban
DESIGNATION: CEO
COMPANY: Emirates Global Aluminium (EGA)
INDUSTRY: Manufacturing
COUNTRY: UAE
At the helm of EGA, Kalban brings a wealth of experience to the forefront EGA. He has held multiple diverse roles within the group, starting as an alternate board member since May 2017 and subsequently transitioning to the role of CEO in 2020.
Beyond his pivotal position at EGA, Kalban extends his influence on the board of Guinea Alumina Corporation (GAC), a vital subsidiary engaged in bauxite mining. His leadership prowess has significantly shaped EGA’s trajectory, driving strategic decisions and fostering innovation within the aluminium sector. Kalban’s multifaceted contributions underscore his profound impact on both EGA and its subsidiary, GAC, solidifying his reputation as a leader in the aluminium industry.
Kalban’s legacy intertwines with the evolution of DUBAL, where he embarked on his journey in 1996. His contributions spanned the Major Projects and the Power and Desalination Department. The transformative merger of DUBAL with EMAL in 2014 was the impetus for EGA, and he continued to play a key role.
In a strategic move in 2014, he transitioned to the role of CEO at Dubal Holding LLC, a significant shareholder in EGA. His influence extends beyond corporate corridors as a board member of the International Aluminium Institute, the Gulf Aluminium Council, and the Emirates Research and Development Council. A particular milestone in 2023 marked Kalban’s appointment as a board member of the UAE International Investors Councils, further solidifying his role in shaping the economic landscape.
About EGA
EGA is the world’s largest ‘premium aluminium’ producer and the biggest industrial company in the UAE outside oil and gas. They operate aluminium smelters in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine and associated export facilities in the Republic of Guinea. EGA is owned equally by Mubadala Investment Company of Abu Dhabi and Investment Corporation of Dubai.
With the UAE’s national strategic initiative to reach net zero by 2050, EGA’s commitment is to reach net zero greenhouse gas emissions from their operations and supply chain by 2050. They have developed a roadmap to achieve this vital goal, engaging internal and external engineers, technologists, and economists.
EGA has initiated the construction of the nation’s largest aluminium recycling plant, situated adjacent to EGA’s existing smelter in Al Taweelah, the facility boasts an annual processing capacity of 170,000 tonnes. This state-of-the-art plant, a collaborative venture between Mubadala Investment Company, and the Investment Corporation of Dubai, aims to convert post-consumer aluminium scrap into low-carbon premium aluminium billets. Anticipated to serve local and global markets, the plant is slated for completion within three years.
As a major contributor to the UAE’s aluminium production, EGA recognises the burgeoning demand for recycled aluminium which is projected to reach 57 million tonnes by 2040. Positioned as a significant player in the worldwide aluminium market, EGA’s commitment to sustainability is further underscored by its supply of solar-powered and recycled metal aluminium to BMW earlier this year.
NAME: Ahmed Galal Ismail
DESIGNATION: CEO
COMPANY: Majid Al Futtaim Holding (MAF)
INDUSTRY: Retail
COUNTRY: UAE
Ismail assumed the role of CEO at MAF in January 2023. Prior to this, he served as the CEO of Majid Al Futtaim Properties in 2018, steering the group’s hotels, project management operations, malls, and communities to new heights under his visionary leadership. Starting his professional journey in Cairo, Egypt, and later in Frankfurt, Germany, at Procter & Gamble, he developed project management expertise and fostered an environment of innovation.
Transitioning to Dubai, he embraced roles across media, tourism, retail, and transportation sectors at Booz Allen Hamilton. In 2007, Ismail joined MAF, reshaping the conglomerate’s direction. As CEO of MAF Ventures, the investment arm of MAF Holding, he led a team of over 3,000 employees, overseeing operations across eight MENA region countries. During his decade-long tenure, the MAF Ventures portfolio underwent significant enhancements, introducing transformative entities like Ski Dubai, Najm Cards, and VOX Cinemas, which gained substantial recognition.
Ismail’s global influence extended to introducing fashion brands like Jane Norman, Abercrombie & Fitch, Hoss Intropia, and more to the company’s portfolio. His talent for strategic planning and vision for opportunities earned him an invitation to join the board of Endeavour, a non-profit organisation dedicated to fostering high-impact entrepreneurship worldwide. He holds an MBA from the London Business School and a BSc in computer science from the American University in Cairo.
About MAF
As a leading pioneer in shopping malls, communities, retail, and leisure across the MEA region, MAF is a prominent Dubai-based private sector company and the largest mall operator in the Middle East. MAF’s company-wide goals and initiatives have been developed to help meet their sustainable business commitments and sustainability annual targets. MAF continually strives to become one of the most sustainable companies in the world, reaching a net-positive business model by 2040.
MAF was the first company in the MENA region to adopt a group-level net-positive strategy and one of the first companies in the world to sign up to the World Green Building Council Net Zero Building Commitment. MAF is also the first in the region to achieve LEED and BREEAM certification across their property portfolio and a minimum LEED GOLD requirement for all new developments.
MAF is focusing on ClimateTech in the latest edition of its start-up accelerator programme ahead of COP28 in Dubai. The conglomerate aims to support companies developing technological solutions to climate change issues through its Launchpad programme in line with the government’s sustainability initiatives.
Launchpad, which is in its second year and is in partnership with the digital ecosystem builder AstroLabs and Microsoft, will provide monetary incentives, mentorship, networking opportunities, and other benefits to winning start-ups and small and medium enterprises. The goal of MAF’s programme is to introduce start-ups to other players in the region to help in UAE’s sustainability transformation. Additionally, MAF is also planning to organise workshops, panel discussions, and networking events focused on ClimateTech to create a collaborative environment for participating start-ups.
NAME: Alex Zagrebelny
DESIGNATION: Founder & owner/chairman of the board
COMPANY: R.evolution Group
INDUSTRY: Real estate
Zagrebelny stands at the forefront of one of the most pioneering companies in the luxury real estate sector, leading the group into new realms of innovation. With operations spanning Latvia, Spain, Germany, and, more recently, the UAE, his creative acumen, leadership, and strategic foresight have propelled the group to the forefront of the high-end real estate market.
Zagrebelny’s ground-breaking approach encapsulates all facets of the R.evolution Group, merging meticulous attention to detail with a vision that integrates the latest advancements in architecture, construction, sales, marketing, and company philosophy.
With over 24 years of experience in real estate development, including two years in the UAE, Zagrebelny brings a wealth of expertise to the table. His leadership style is characterised by a commitment to pushing boundaries and exploring new possibilities. He holds positions on several boards, including as the board member of LEGEND. Jurmala; Lofts&Rosegold; Bulduru Investment; TAL Residence; Philosophers Residence; Villa Milia; Hoft; R.evolution Nami; R.Evolution City GmbH; and R.Evolution Strategy.
His pioneering spirit and strategic vision have been integral to the R.evolution Group’s expansion and success. He earned a Master’s degree in Finance & Credit from Riga Aviation University, Latvia, contributing to the group’s sustained growth and excellence in the luxury real estate market.
About R.evolution
Backed by a legacy spanning over two decades, R.evolution is poised to make an indelible mark on Dubai’s skyline with their debut project, Eywa in Business Bay along the Dubai Water Canal. This collection of exclusive waterfront residences spans 22,000 m2 and the project comprises 19-storey tower hosting 48 residences with two, three, four, and five bedrooms.
The smallest two-bedroom apartment spans 200 m2, excluding the balcony. Each apartment features its private jacuzzi, while the two penthouse levels boast individual swimming pools. Prioritising a new standard of sustainable and health-centric living, the project aims for LEED Platinum, Well Platinum, and WiredScore Platinum certifications.
The lead concept and design architect are Open AD, while Brewer Smith Brewer Group (BSBG) takes on the role of executive architect and lead design consultants. Christie’s International Real Estate Dubai are the exclusive real estate broker for Eywa. Eya is scheduled for completion by 2026.
Inspired by the sacred Tree of Life, Eywa’s architecture is a testament to the deep connection with nature it seeks to foster. Eywa epitomises a unique lifestyle rooted in the compelling concept of ‘Wild luxury,’ helping to empower residents to forge an authentic connection with themselves and their surroundings.
Eywa’s architecture showcases open round columns and intertwining branch and trunk elements, echoing the symbolism of the Banyan tree. It merges the timeless design principles of Vastu Shastra with cutting-edge technologies, aligning the building’s energies to foster an environment that supports well-being and encapsulates the promise of modern living. Emphasising positive energy and balance in homes, Eywa plans to incorporate bespoke healing crystals, private waterfalls, and luxurious finishes within the structure to promote the health and well-being of its residents.
NAME: Debanjali Kamstra
DESIGNATION: Director
COMPANY: Veloche Interior and Exhibition Contracting LLC
INDUSTRY: Interior fit-out & exhibition stands
COUNTRY: UAE
In addition to her current role at Veloche Interior and Exhibition Contracting LLC, Kamstra has assumed the position of the UAE’s Sustainability Ambassador, bestowed upon her with the official Mrs Earth 2023 title. As an unwavering advocate for sustainability, she proudly represented the UAE at the pageant, clinching the prestigious Mrs Earth 2023 crown at the Okada Manila hotel in the Philippines. Clad in a gown symbolising the UAE, Kamstra, the second runner-up in Mrs World 2021, has called the UAE home for over 13 years.
She made history as the UAE’s first-ever candidate at Mrs Earth, a pageant focused on promoting sustainable living across lifestyle and fashion. Backed by her personal commitment to sustainability, she was selected from among 45 candidates from various countries. Her victory underscores the UAE’s dedication to environmental consciousness and comes at the perfect time with the UAE gearing up to host the UN climate change conference, COP28, a pivotal opportunity to correct course and accelerate action to tackle the climate crisis.
Helmed by Dr. Sultan Ahmed Al Jaber, President-Designate for COP28, UAE, COP28 brings together leaders from governments, businesses, NGOs, and civil society to find concrete solutions to the defining issue of our time.
The Mrs. Earth® and Ms. Earth® pageant aspires to seamlessly blend beauty and nature, celebrating the extraordinary privilege of womanhood on the planet. Their primary objective is to provide a platform for women to showcase their dreams, exceptional achievements, and unique experiences, fostering self-confidence and self-awareness.
This contest seeks to identify a role model who epitomises the essence of womanhood, possessing both inner and outer beauty. The chosen winner becomes the ambassador of their organisation, championing the causes of tourism, friendship, peace, harmony, awareness for special causes, and the preservation of Mother Earth.
About Veloche Interior and Exhibition Contracting LLC
Established in 2012, Veloche Interior and Exhibition Contracting LLC operates from its centre and production factory in Dubai, UAE. Founded by young entrepreneurs passionate about interior fit-out and architecture, the company has committed itself to delivering excellence and value worldwide. Renowned for professional and prompt services in interior fit-out and exhibition stands, Veloche’s global expansion into the UK and Turkey positions it as one of the fastest-growing interior fit-out companies in the UAE.
The company’s aesthetic and contemporary designs, fit-out services, and exhibition stands now cater to a broader audience with a highly experienced team. Specialising in both commercial and residential spaces, Veloche Interior and Exhibition Contracting LLC create exceptional interiors. Utilising turnkey solutions, their team of highly qualified designers, engineers, and MEP experts collaborate to bring spaces to life and deliver stunning fit-outs that surpass expectations.
Recognising the uniqueness of each project, Veloche tailor solutions to specific needs, whether revamping an office, retail space, or a dream home. Veloche Interior and Exhibition Contracting LLC are committed to excellence and this, coupled with state-of-the-art technology, has established them as industry leaders in interior design and fit-out solutions.
NAME: Himanshu Patel
DESIGNATION: CEO & founder
COMPANY: Triton EV
INDUSTRY: Electric vehicles
COUNTRY: USA
Patel, CEO and founder of Triton Electric Vehicle, LLC, has been at the forefront of advancing clean tech smart mobility since February 2018. His journey, which began with Triton Infosys in 2005, has seen him make remarkable strides in the realms of security surveillance systems, solar products, and electric vehicles. Today, Triton Infosys operates in 11 countries, recognised for its end-to-end solutions across various sectors.
Patel’s innovation continued with Triton Solar, launched in February 2012, introducing the world to hybrid solar panels capable of storing and generating 10,500 watts of power independently of the electric grid. This breakthrough, along with the first printable lighting for commercial use, set new benchmarks in solar technology.
In February 2018, Patel channelled his passion for cars into founding Triton EV, transforming the landscape of clean tech smart mobility for the logistics sector. Triton EV’s long-range electric vehicles, designed by and for car enthusiasts, combine top-tier technical skills with a deep industry passion, resulting in vehicles that excel in both functionality and safety.
About Triton EV
Triton EV’s rapid expansion in the Indian and Middle Eastern markets is exemplified by the launch of their 8.5-ton EV Truck, which can travel 300 km on a single charge. These electric trucks play a crucial role in reducing urban air pollution and greenhouse gas emissions due to their zero tailpipe emissions. The upcoming 3.5-ton capacity EV Truck and the advanced electric semi-trucks, hydrogen scooters, and hydrogen rickshaws further showcase Triton EV’s dedication to eco-friendly innovation.
The R&D Centre in Gujarat, India, is the global hub for Triton EV’s R&D, focusing on the development of EV Trucks and special-purpose vehicles, underscoring the company’s commitment to sustainable transportation solutions.
Addressing Electric Vehicle Charging Challenges: Patel rcognizes the inefficiencies in the current modes of charging electric vehicles. A significant issue is the tendency of EV owners to charge their vehicles during peak hours (3 PM to 9 PM), increasing demand on the power grid. This surge often necessitates reliance on fossil fuel-generated power, diminishing the environmental benefits of EVs. The current power grid, largely dependent on fossil fuels, is insufficient to meet the added demand from EVs, illustrated by the fact that EV cars production of 100,000 cars annually might require the energy equivalent of five nuclear power plants each year.
Innovative Solution: Vehicle-to-Grid (V2G) Technology: Triton EV advocates for the adoption of Vehicle-to-Grid (V2G) technology as a solution. V2G allows EVs to charge during off-peak hours and supply power back to the homes during peak hours. This approach can alleviate grid stress and enhance energy efficiency. And ensure true reduction of carbon footprint.
NAME: Khaldoon Khalifa Al Mubarak
DESIGNATION: Managing director and group CEO
COMPANY: Mubadala Investment Company
INDUSTRY: Investment
COUNTRY: UAE
In his extensive tenure at Mubadala Investment Company, Al Mubarak has played a pivotal role in steering the company’s substantial growth over two decades. As per their official website, Mubadala has evolved into a formidable $276 billion enterprise, spanning over 50 countries across six global offices, thanks to Al Mubarak’s leadership in organic growth, acquisitions, and mergers. Operating with a global and entrepreneurial mindset, Mubadala, under his guidance, stands as a responsible sovereign investor, delivering sustainable financial returns to its shareholder, the government of Abu Dhabi.
Furthermore, Al Mubarak takes on significant governmental duties in the UAE and Abu Dhabi. His roles encompass membership on the Abu Dhabi Executive Council since 2006, a founding position in Abu Dhabi’s Supreme Council for Financial and Economic Affairs, and his role as a presidential special envoy to China since 2018. He acts as the founding chairman of the Executive Affairs Authority, offering strategic policy advice to Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE. In his multifaceted responsibilities, Al Mubarak plays a pivotal role in shaping the economic and policy landscape of the UAE.
Additionally, Al Mubarak is on the board of ADNOC and serves as the chairman of the Boards for the Emirates Nuclear Energy Corporation, Abu Dhabi Commercial Bank, Emirates Global Aluminium, and City Football Group. He also co-chairs the Abu Dhabi-Singapore Joint Forum and the UAE-France Strategic Dialogue, while contributing as a member of the New York University Board of Trustees. He holds the chairmanship of the Boards for the Emirates Nuclear Energy Corporation, Abu Dhabi Commercial Bank, Emirates Global Aluminium, as well as City Football Group. He co-chairs both the Abu Dhabi-Singapore Joint Forum and the UAE-France Strategic Dialogue. He is also a member of the New York University Board of Trustees.
About Mubadala Investment Company
Mubadala, a pioneering sovereign wealth fund, ventured into renewable energy early on by establishing Masdar in 2006, a pivotal player in global utility-scale renewable projects. Recognising the severity of climate change as an existential threat, Mubadala is actively working to diminish its carbon footprint and strategically invest in industries that define the future. Aligned with the UAE government’s forward-looking vision, Mubadala has committed to achieving net-zero greenhouse gas emissions across its global portfolio and corporate activities by 2050.
In collaboration with governments, businesses, and industry leaders worldwide, Mubadala is deploying capital across sectors, with a strong focus on clean energy infrastructure and renewable energy. Investments in crucial technologies like energy storage, clean hydrogen, and carbon capture demonstrate Mubadala’s dedication to advancing the transition to a low-carbon economy and decarbonising challenging sectors.
Underlining their commitment to ESG principles, Mubadala established the Responsible Investing Unit in 2021. This dedicated unit helps drive the integration of ESG principles and practices throughout the organisation. Mubadala’s comprehensive approach to responsible investing is elucidated in its Responsible Investing Policy, a guiding framework shaping their sustainable investment journey.
NAME: Mohamed Jameel Al Ramahi
DESIGNATION: CEO
COMPANY: Masdar
INDUSTRY: Renewable energy
COUNTRY: UAE
Al Ramahi joined Masdar in 2008 and assumed several key leadership roles within the company, including as the chief financial officer and as the chief operating officer, prior to his appointment as the CEO in 2016. Under his guidance, Masdar has transformed to become one of the world’s fastest-growing renewable energy companies, boasting a global project portfolio exceeding 20GW and investments surpassing $30 billion.
Apart from his role as CEO, Al Ramahi holds key board positions, serving as chairman of the Masdar Investment Committee, vice-chair of the Global Council on Sustainable Development Goals, and director for Mubadala Health, Emirates Waste to Energy Company, the Catalyst, and Shuaa Energy 2 PSC, which developed phase 3 of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai.
Known for his collaborative spirit, Al Ramahi actively participates in various groups fostering international cooperation in business and sustainability, including the French Business Group, Australian Business Group, the US-UAE Business Council, and the Sustainable Markets Initiative Taskforce for Energy Transition.
About Masdar
As a leader in renewables and green hydrogen, Masdar, which is a collaborative effort between Mubadala, ADNOC, and TAQA, extends its impact to over 40 countries, with a dedicated commitment exceeding $30 billion in worldwide projects. By harnessing electricity from zero and low-carbon sources like solar and wind, Masdar’s initiatives annually offset 30 million tonnes of CO2.
The company is at the forefront of the decarbonisation movement, targeting challenging sectors such as heavy industry and shipping, with a vision to produce 1 million tonnes of green hydrogen annually by 2030.
Masdar has been a pioneer in exploring hydrogen production since 2008. The green hydrogen business operated by Masdar aims to establish itself as a global leader by adopting a ‘smart early-mover’ approach. Masdar seeks to be a project owner and integrator of world-scale developments along the entire hydrogen value chain.
Remaining technology-agnostic, they focus on incorporating the best technologies to build a robust hydrogen value chain. This approach helps to ensure flexibility and efficiency in their hydrogen endeavours.
In a ground-breaking partnership with Emirates Steel Arkan, Masdar is pioneering a revolutionary green hydrogen project set to decarbonise the UAE’s steel sector. The project is slated to produce ‘green steel’ by 2024 and signifies a sustainable era for the industry.
Notably, steel manufacturing contributes a substantial 7 to 8 Percent to global carbon emissions, making its decarbonisation crucial for achieving a net-zero future. In 2022, the Abu Dhabi-listed company achieved a commendable double-digit reduction in energy and emissions intensity by leveraging 80 percent clean electricity, carbon capture, and scrap metal utilisation.
With a firm commitment to sustainability, the company is determined to further reduce carbon emissions by 40 percent by 2030 and achieve net-zero emissions by 2050. This aligns seamlessly with the UAE’s ambitious objective of becoming a major hydrogen producer by 2031, emphasising Masdar’s dedication to environmental responsibility and its pivotal role in the global transition toward cleaner industrial practices.
NAME: Wesam Y. Alghamdi
DESIGNATION: CEO
COMPANY: NEOM Green Hydrogen Company (NGHC)
INDUSTRY: Green hydrogen
COUNTRY: KSA
Succeeding David Edmondson, who will continue until year-end before returning to US-based Air Products, Alghamdi will be taking on the CEO position from January 2024. He boasts over two decades of experience, particularly in engineering, operations, and project management with companies like Ma’aden, Sabic, and Shell.
Alghamdi, an alumnus of King Fahd University of Petroleum and Minerals, has established a strong track record of strategic performance throughout his career. His expertise extends to areas crucial for NGHC’s success, aligning with the company’s vision for continued growth and leadership in the green hydrogen sector.
The appointment of Alghamdi reflects the commitment to advancing Saudis into senior leadership positions, aligning with the Kingdom’s Saudisation programme and Vision 2030. Alghamdi is also committed to supporting environmental preservation and is actively involved in educational and awareness initiatives.
About NGHC
The company that is building the world’s largest green hydrogen plant, NGHC was created when three market innovators, ACWA Power, Air Products and NEOM, came together with a shared mission to truly lead the world in its transition to a carbon-free future. Based at Oxagon in NEOM, NGHC’s green hydrogen will be captured as green ammonia and exported globally.
The plant is already becoming a reality, with construction well underway on the ground and full production due to start by the end of 2026. NGHC is a cornerstone of KSA’s Vision 2030 and will empower the Kingdom’s climate change ambition. NGHC’s green hydrogen facility will significantly contribute to the Kingdom’s clean energy and circular carbon economy strategy, as well as deliver on Saudi Vision 2030’s economic development goals.
Powered solely by renewable electricity, NGHC’s plant will produce up to 600 tonnes per day of green hydrogen, which will be used to decarbonise industries/sectors including transport and heavy industry. This could save the planet up to 5 million tonnes of CO2 every year, with up to 600 tonnes of carbon free green hydrogen produced per day, creating 300 direct jobs in NEOM.
NGHC recently received its first delivery of wind turbines at the Port of NEOM in northwest Saudi Arabia. A milestone in the construction and development of the mega project, the first set of wind turbines was successfully delivered on 8 October and are now being transported via road to the Wind Garden site near Gulf of Aqaba where they will be assembled and installed.
Additional turbines are expected to be delivered by the end of the year, with NGHC’s Wind Garden ultimately featuring more than 250 to directly power the green hydrogen plant via a dedicated electricity transmission grid. Oxagon, NEOM’s reimagined industrial city, will integrate as much as 4 giga-watts of solar and wind energy to produce up to 600 tonnes of carbon-free hydrogen daily. Once the plant at NEOM is fully operational in 2026, 100 percent of the green hydrogen produced will be available for global export in the form of green ammonia, through an exclusive long-term agreement with Air Products.
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