Saudi sustainability champion: stc commits to net-zero by 2060

American University of Sharjah’s Engineering Al Nukhba Program has welcomed Group AMANA, a regional leader in design-build construction, as its newest industry partner. The memorandum of understanding signed between the two parties will offer AUS students professional training, career development and research opportunities, strengthening the link between academia and industry.

The AUS Engineering Al Nukhba Program, designed to foster immersive industry partnerships, gives engineering students a competitive advantage by connecting them with leading firms across multiple disciplines. Through hands-on training, mentorship and research collaboration, the program ensures students are equipped with the practical skills needed to succeed in an evolving job market.

Dr. Fadi Aloul, dean of the AUS College of Engineering, emphasized the strategic significance of the partnership, stating: “Building meaningful partnerships with industry is key to equipping our students with the tools to excel in an increasingly complex and competitive global market.

“Our collaboration with Group AMANA aligns with our vision to produce engineering graduates who are future-ready—combining technical expertise with practical industry insights and leadership capabilities. Together, we are preparing the next generation of innovators who will shape the future of construction and engineering.”

Joe Labaki, chief operating officer, at Group AMANA: “I would like to thank American University of Sharjah for this valuable opportunity to collaborate with the next generation of leaders. This MoU marks a significant step in fostering innovation, knowledge exchange and a shared commitment to shaping the future of engineering.”

“This partnership will help empower these future leaders with real-world insights and hands-on experience. We are excited to welcome them to our sites across the UAE, where they will have the chance to witness the impact of cutting-edge engineering solutions that are transforming the industry,” said Labaki.

Under the agreement, Group AMANA will recruit and train AUS students through several professional development pathways, including internships, graduate recruitment and AMANA’s Graduate Program “AMANA.Seed”— an intensive track designed to develop high-potential individuals for leadership roles within the company.

Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum, organized by the Saudi Stock Exchange Group (Tadawul).

This achievement makes SAB the first bank in the Kingdom to receive this prestigious recognition and acknowledges its leading efforts and prominent role in advancing environmental, social, and corporate governance practices within the Saudi economy and market.

The winners were selected by independent committees composed of a distinguished group of sector experts, carefully chosen by the CFA Society Saudi Arabia and the Middle East Investor Relations Association. Competitors were evaluated according to stringent criteria to ensure the highest levels of excellence in their respective fields.

Tony Cripps, managing director & CEO of SAB, said: “Receiving this prestigious award reflects our steadfast commitment to applying best practices and reinforces our focus on responsible banking. Our sustainability strategy is a core part of our operations, and we are dedicated to contributing to continued progress and development in alignment with Saudi Vision 2030.”

He added: “This recognition further strengthens our position in the banking sector, and we will continue working to enhance the environmental and social impact of sustainability, solidifying our role as a key contributor to achieving related national goals.” 

SAB continues its leadership role as the first bank in Saudi Arabia to implement a comprehensive sustainability strategy, including commitments to achieve net-zero operational emissions by 2035 and net-zero financed emissions by 2060. 

The bank has also allocated SR 34 billion for sustainable financing by 2025 in line with Saudi Green Initiative. Additionally, SAB chairs the advisory committee on sustainable banking under the supervision of the Saudi Central Bank further cementing its position as a leader in sustainable finance.