Red Sea Global’s inaugural Sustainability Report reveals environmental and socio-economic achievements
The report demonstrates the integration of sustainability across all areas of The Red Sea Project and outlines future plans
"Riyadh, (14 June 2021): Red Sea Global RSG (formerly known as TRSDC), the developer behind the world’s most ambitious regenerative tourism project, has unveiled its inaugural Sustainability Report detailing its pioneering approach to sustainable development and achievements to date, and commitment to transparency and accountability.
The report, titled ‘Laying the Foundation for a Sustainable Destination’, contains a comprehensive overview of how RSG is taking a regenerative approach to development of The Red Sea Project. This includes details on its:"
"* Environmental commitments, including a pledge to deliver a 30 percent net conservation benefit by 2040, only developing 22 of more than 90 islands, and powering the destination with 100 percent renewable energy, validated by the Utilities PPP awarded to a consortium led by ACWA Power last year
* Socio-economic contributions, by increasing the employment and training opportunities for local Saudis, demonstrated by its Elite Graduate Program, which provides young Saudis with practical experience for roles in the tourism sector plus conducting the Future Faces of Tourism study to understand attitudes towards hospitality and tourism careers
* Maintenance of safe construction efforts amidst the COVID-19 pandemic including Zero Lost Time Incidents (LTI) during the construction of marine jetties, Coastal Village and Base Camp
* Wide range of external certification standards and awards achieved, including an ISO 31000:2018 Risk Management System certification."
The report was developed in accordance with the internationally recognized Global Reporting Initiative (GRI) sustainability reporting framework and demonstrates the project’s alignment with the UN Sustainable Development Goal’s. It includes RSG’s first formal stakeholder engagement and materiality assessment which has led to identifying the material sustainability topics and focus areas for RSG.
About Red Sea Global
Red Sea Global (RSG - www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) ofSaudi Arabia.
RSG is a global multi-project developer, seeking to lead the world towards a more sustainable future, showing how responsible and regenerative development can uplift communities, drive economies, and enhance the environment. The protection of natural capital is central to all development decisions, as the organization seeks to create abetter future for all.
A cornerstone of Saudi Arabia’s Vision 2030 ambition to diversify its economy, RSG is playing a key role in transforming the nation, by creating exciting opportunities for young Saudi talent and the private sector, as it develops built assets and destinations across multiple sectors that make a positive impact for people and planet.
RSG is the visionary company behind some of the world’s most ambitious development ventures, including luxury regenerative tourism destinations such as The Red Sea and AMAALA.
Across its portfolio, RSG leverages the most innovative concepts, strategies, and technologies to deliver projects that actively enhance the wellbeing of customers, communities, and environments.