DMCC, the world’s flagship free zone and the government of Dubai authority on commodities trade and enterprise, has signed several agreements with key industry leaders and sustainability platforms to significantly bolster the services available through its recently launched Sustainability Hub.
DMCC Sustainability Hub entered three partnership and collaboration agreements with S&P Global Market Intelligence (SPGMI) and S&P Global Sustainable1. It also signed an agreement with leading sustainability platforms Earthly and Climate Essentials to provide DMCC Sustainability Hub members with privileged access to a range of tools, resources, and networks to drive forward ESG practices.
Region’s leading ESG ecosystem
Through these agreements, DMCC Sustainability Hub aims to strengthen its status as the leading ESG ecosystem in the region, with a range of exclusive rates, industry-leading insights and value-added services.
These will drive the hub’s support of members in implementing long-term emissions reduction targets in line with the UAE’s Net Zero 2050 ambitions. The hub will also align targets with elements of the federal decree announced in August 2024 such as emission reduction targets, mandatory reporting, and encouraging innovation. DMCC Sustainability Hub will scale its benefits and extend them throughout DMCC’s community of almost 25,000 members and eventually at the global level.
Launched in March 2024, the DMCC Sustainability Hub is a network of industry leaders from within DMCC’s business district who collectively drive meaningful ESG change and impact. Alongside a program of meetings, networking, and mentorship opportunities, the hub offers access to finance through ESG-focused venture capital companies and accelerator programs. It is run in partnership with C3, a UAE-based social enterprise.
Sustainability assessment
DMCC Sustainability Hub’s agreement with SPGMI and S&P Global Sustainable1 will provide members with access to one of the world’s leading sustainability assessment tools, the S&P Global Corporate Sustainability Assessment (CSA). The CSA helps companies make the link between sustainability and their business strategies and benchmark their progress against peers.
Members will also be able to better understand how to report their sustainability performance in line with global reporting frameworks using its Sustainability Starter Pack.
“With key resources from S&P Global’s Market Intelligence and Sustainable1 businesses, Earthly and Climate Essentials we will broaden our community’s access to critical ESG tools, in turn, ensuring that Dubai remains a central part of the conversation on addressing climate action,” stated Feryal Ahmadi, chief operating officer, DMCC.
Read: Dubai joins SDG Cities Global Initiative to help advance global sustainability efforts
Calculating carbon footprints
Climate Essentials will provide the DMCC Sustainability Hub with tools to calculate carbon footprints across all three scopes, in accordance with leading climate science protocols, on an accessible and easy-to-use platform that democratizes access to critical ESG data for SMEs and entrepreneurs.
Meanwhile, Earthly will support members with tailored carbon management strategies and access to verified carbon offset projects via its platform. This will enable them to invest in high-integrity nature-based solutions that remove carbon, restore biodiversity, and support local communities.
“Nature-based solutions, such as reforestation, wetland restoration, and regenerative agriculture, are critical in the fight against climate change. According to the IPCC, these approaches could provide up to one-third of the emissions reductions needed by 2030 to keep global warming below 1.5°C,” stated Lorenzo Curci, co-founder and CCO of Earthly.
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