Why Sustainable Development 2021-2031 is important for UAE businesses.

Why Sustainable Development 2021-2031 is important for UAE businesses.

The “UAE Sustainable Development Framework 2021-2031″ provides a comprehensive roadmap for achieving sustainable development in the UAE over the next decade. The framework outlines a clear vision for sustainable development across four key pillars. and sets out a range of targets and indicators for measuring progress towards the SDGs. The framework also emphasizes the importance of partnerships, innovation, social inclusion, and good governance in achieving sustainable development.

The Four Pillars Of Sustainable Development Framework

The framework outlines the UAE’s vision for sustainable development, which is centred around four key pillars: people, planet, prosperity, and governance. These pillars are intended to guide the country’s policies and initiatives across a range of sectors, including education, healthcare, energy, water, transport, and urban planning.

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The “People” framework emphasizes the importance of promoting social inclusion, gender equality, and human development. It calls for investments in education and healthcare, as well as measures to tackle poverty and reduce inequality. It also highlights the need to protect the rights of vulnerable groups, including children, the elderly, and people with disabilities.

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The “planet” pillar focuses on environmental sustainability, with a particular emphasis on reducing carbon emissions, conserving biodiversity, and promoting renewable energy. The framework sets ambitious targets for reducing the carbon footprint of the UAE’s economy, with a goal of achieving net-zero emissions by 2050. Other key objectives include increasing the use of renewable energy sources and reducing waste and pollution.

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The “prosperity” pillar is centred around economic growth and development, with a focus on creating a diversified and knowledge-based economy. The framework highlights the importance of innovation and entrepreneurship, as well as the need to enhance competitiveness and promote sustainable consumption and production. It also calls for investments in infrastructure and technology, as well as measures to promote trade and investment.

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The “governance” pillar emphasizes the importance of good governance and institutional capacity-building. The framework calls for the development of effective policies and regulations, as well as the promotion of transparency, accountability, and public participation. It also highlights the importance of data and evidence-based decision-making, as well as the need to strengthen partnerships between government, civil society, and the private sector.

Overall, the “UAE Sustainable Development Framework 2021-2031” is a comprehensive and ambitious framework that outlines a clear vision for sustainable development in the UAE.

Key factors for achieving sustainable development

The framework emphasizes the importance of partnerships, innovation, social inclusion, and good governance in achieving sustainable development and sets out a range of targets and indicators for measuring progress towards the SDGs

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Targets and indicators

The framework sets out a range of targets and indicators for measuring progress towards the SDGs. For example, under the “planet” pillar, the framework sets a target of increasing the share of renewable energy in the total energy mix to 50% by 2050. It also sets a target of reducing the carbon footprint of the UAE’s economy by 25% by 2030. The framework includes a total of 92 targets and 289 indicators across all four pillars

Partnership

The framework emphasizes the importance of partnerships in achieving sustainable development. It calls for the development of partnerships between government, civil society, and the private sector, as well as partnerships with international organizations and other countries. The framework also highlights the importance of engaging young people and empowering them to contribute to sustainable development.

Innovation and technology

The framework emphasizes the importance of innovation and technology in achieving sustainable development. It calls for the development of a knowledge-based economy that promotes innovation and entrepreneurship, as well as investments in research and development. The framework also highlights the importance of using technology to improve efficiency and reduce waste in sectors such as energy, water, and transport.

Social inclusion

The framework prioritizes social inclusion, reducing inequality, investing in education and healthcare, addressing poverty, promoting gender equality, and protecting vulnerable groups’ rights.

UAE businesses benefit from sustainability development.

Business opportunities:

The framework presents opportunities for businesses to participate in sustainable development initiatives and projects. For example, the framework highlights the importance of renewable energy and calls for an increase in the share of renewable energy in the total energy mix. This presents opportunities for businesses in the renewable energy sector to invest and grow.

Innovation:

The framework emphasizes the importance of innovation and technology in achieving sustainable development. Businesses that invest in research and development and adopt innovative technologies can improve their efficiency, reduce waste, and minimize their environmental impact.

Regulatory environment:

The framework outlines policies and regulations that promote sustainable development. This includes measures to promote sustainable consumption and production, reduce waste and pollution, and conserve biodiversity. Businesses that operate within the UAE will need to comply with these regulations, which could impact their operations and bottom line.

Partnership opportunities:

The framework highlights the importance of partnerships between government, civil society, and the private sector in achieving sustainable development. This presents opportunities for businesses to collaborate with other stakeholders and contribute to sustainable development initiatives.

 Reputation:

Businesses that support sustainable development initiatives can enhance their reputation and brand image. By aligning with the UAE's commitment to sustainable development, businesses can demonstrate their commitment to social responsibility and environmental stewardship.

Sustainable development initiatives that businesses can participate in

Renewable energy

The UAE has set a target of increasing the share of renewable energy in the total energy mix to 50% by 2050. Businesses can invest in renewable energy technologies such as solar and wind power, or develop innovative solutions to improve energy efficiency.

لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
Sustainable transportation

 The framework emphasizes the importance of sustainable transportation, including electric vehicles and public transport. Businesses can invest in sustainable transportation solutions, such as electric charging stations, or develop innovative technologies to improve the efficiency of public transport.

Waste reduction

The framework calls for measures to reduce waste and pollution. Businesses can invest in waste reduction technologies, such as recycling and composting, or develop innovative solutions to reduce waste in their operations.



لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
Sustainable agriculture

 The framework highlights the importance of sustainable agriculture and food systems. Businesses can invest in sustainable agriculture practices, such as organic farming and agroforestry, or develop innovative solutions to improve food security and reduce food waste.

Green buildings

The framework calls for the development of sustainable and energy-efficient buildings. Businesses can invest in green building technologies, such as solar panels and energy-efficient lighting, or develop innovative solutions to improve the sustainability of buildings.

لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
Water conservation

 The framework emphasizes the importance of water conservation and the efficient use of water resources. Businesses can invest in water-efficient technologies, such as drip irrigation and water recycling systems, or develop innovative solutions to conserve water in their operations.



Sustainable finance

The framework emphasizes the importance of sustainable finance and the integration of environmental, social, and governance (ESG) considerations into investment decisions. Businesses can adopt sustainable finance practices, such as green bonds or ESG investing, or develop innovative financial products that promote sustainable development.

لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟v
لماذا التنمية المستدامة 2021-2031 مهمة للشركات الإماراتية؟
Social responsibility

The framework highlights the importance of social responsibility and the protection of human rights. Businesses can invest in social responsibility initiatives, such as employee training programs, community development projects, or ethical sourcing practices.

Overall, businesses can participate in a wide range of sustainable development initiatives to contribute to the UAE’s vision for sustainable development. By aligning their operations with the framework’s goals and objectives, businesses can enhance their reputation and attract customers and investors who value sustainability

The UAE’s commitment to sustainable development is evident in the framework, and the country’s efforts towards achieving these goals will require cooperation and collaboration between government, civil society, the private sector, and international partners.

AHG is a leading regional auditing and chartered accountancy firm, with presence in the GCC and North Africa. Since 2014, AHG has helped companies operating in the UAE achieve maximum success. We are fully prepared for establishing companies in the United Arab Emirates with a team of trained tax experts to prepare your business for corporate tax in the United Arab Emirates.

The AHG-Dubai Group serves a wide range of clients and multinational corporations. This comes in light of the company’s strategy to focus on two main pillars: geographical expansion in frontier markets and driving a positive societal culture. By combining our strengths and expertise in the region, we provide our clients with best-in-class services tailored to their needs to maximize their investment goals in a rapidly changing environment.

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