Event Management Integrating ESG Principles: A Look Ahead to COP28 in the UAE
Sports and Event Management Focus
With the UAE preparing to host the 28th UN Climate Change Conference (COP28) in less than 100 days, the spotlight turns to the nation’s commitment to orchestrating an event that is sustainable, positive, and responsible.
Law Update: Issue 362 - Sports and Event Management
Hamza Al-HaboubiESG Consultant
The emphasis on environmental, social and governance (ESG) principles has spread across many businesses in recent years, and the management of mega events is no different. The Middle East and North Africa (MENA) region has demonstrated an emerging commitment to integrating ESG concepts into their practices. With the UAE preparing to host the 28th UN Climate Change Conference (COP28) in just over a month, the spotlight turns to the nation’s commitment to orchestrating an event that is sustainable, positive, and responsible.
ESG integration in events management involves aligning activities with sustainable practices, taking social well-being into account, and adhering to transparent governance principles. It involves a holistic approach that enhances inclusivity, mitigates environmental impact, and maintains ethical standards. This approach is especially significant for events of global importance, such as COP28, which will take place at the Expo City Dubai from 30 November 2023 to 12 December 2023. The event will highlight the first global stocktake, covering progress of the world since the adoption of the Paris Agreement and is expected to bring together representatives from over 190 countries.
Having declared 2023 as the ‘Year of Sustainability’, the UAE is escalating its efforts to lead global efforts on ESG education and benchmark the contribution levels expected from organisations across the Emirates. The COP28 event is a great opportunity for the UAE to showcase it ambitious initiatives and showcase its approach to managing a sustainable event that aligns with the country’s vision for a greener and more equitable future.
As emphasised by the UAE President, H.H. Sheikh Mohamed bin Zayed:, “by hosting COP28, the UAE is building upon its enduring legacy of environmental stewardship first championed under the late Sheikh Zayed bin Sultan Al Nahyan, Founding Father of the UAE, while empowering youth, women, and civil society to contribute to mobilising international efforts to combat climate change.” The choice of the UAE as the host country underscores its dedication to creating a sustainable, impactful, and forward-looking event that addresses the global climate crisis.
In particular, this will be accomplished by:
The provision of sustainable infrastructure for the event;
the COP28 venue (Dubai Expo City) has been selected with energy efficiency in mind, given it will be utilising solar energy, optimising energy consumption, and implementing waste reduction measures which showcase the UAE's dedication to hosting an event that echoes its commitment to safeguarding the environment;
there is an aim for net zero waste at the event – by providing systems for waste reduction, recycling, and composting at COP28. The UAE is demonstrating its commitment to reducing the event's environmental impact by offering properly labelled disposal facilities and limiting single-use plastics.
The UAE President, H.H. Sheikh Mohamed bin Zayed, emphasizes, “By hosting COP28, the UAE is building upon its enduring legacy of environmental stewardship first championed under the late Sheikh Zayed bin Sultan Al Nahyan, Founding Father of the UAE, while empowering youth, women, and civil society to contribute to mobilising international efforts to combat climate change.”
Community engagement:
by engaging with stakeholders and collaborating with non-governmental organisations (NGOs), youth groups, and local communities to amplify the event's resonance and underscore the nation's dedication to fostering a socially cohesive and inclusive environment.
due to its population's diversity (more than 200 different nationalities), the UAE is a natural proponent of inclusiveness and diversity at events like COP28.
Ethical governance:
by ensuring there is leadership accountability and transparency - the UAE’s pledge to transparent practices, robust stakeholder engagement, and adherence to global best practices personifies its commitment to exemplary governance;
the UAE's devotion to ethical principles is also demonstrated by the transparency in financial transactions and collaborations associated to COP28. Its adherence to ESG principles is further strengthened by maintaining high governance standards and ethical decision-making throughout the event's development and execution. This comes as the UAE has been ranked the top country in the Arab world in terms of offering the most economic opportunities for investors and residents. In the list of 128 countries' "Economic Opportunity Rankings," the UAE was ranked 20th overall and first in the Middle East and Arab region by the World Citizenship Report 2023.
In line with a rising commitment to sustainable development, the UAE has been gradually integrating ESG principles into its regulatory framework, including:
renewable energy initiatives: through initiatives like the Mohammed bin Rashid Al Maktoum Solar Park, the UAE has made considerable expenditures in renewable energy sources. The UAE is also home to the first of its kind large scale carbon capture facility (CCUS). This facility aids in reducing the cost of solar energy. These initiatives support worldwide ESG targets for cutting carbon emissions and switching to sustainable energy sources.
financial products with an ESG Focus: The UAE government and financial institutions have focused their efforts on the creation of financial products with an ESG focus, such as green bonds and sustainable investment funds. These tools promote investment in projects that are socially and environmentally responsible; and
public-private partnerships: Partnerships between the public and business sectors may be facilitated by the connection between ESG regulation changes and the COP event. By encouraging companies to connect their strategy with ESG principles, the event may promote innovation and sustainable growth in the UAE.
Following the event’s conclusion, the UAE hopes to leave a legacy that extends far into the future. COP28 is more than just a climate event; it is an agent of change. The UAE is making use of this international platform to influence legislative changes, promote sustainable technologies, and promote international cooperation.
The UAE's integration of ESG principles into the COP28 event management reflects a forward-looking approach that encompasses environmental responsibility, social inclusivity, and ethical governance. With key statistics highlighting the nation's achievements and commitments, it's evident that the UAE is not only hosting an event but also shaping a legacy of sustainability and responsible event management for the world to follow.
For further information,please contact Hamza Al-Haboubi.
Published in October 2023
