Saudi Arabia Ministry of Economy & Planning and Clarity AI Sign MOU to Develop Sustainability Reporting Capabilities and Framework in the Kingdom

Saudi Arabia’s Ministry of Economy & Planning and Clarity AI, the leading global sustainability technology platform, announce that they have signed a Memorandum of Understanding (MOU) aimed at bolstering the sustainable practices of businesses in the Kingdom.

Clarity AI capabilities are used by some of the world’s largest investment firms and major global businesses to provide environmental and social insights powered by machine learning and big data. The MOU is an important step in the Ministry’s objective, under the National Transformation Program, of encouraging companies to participate in economic activities in a sustainable manner and increase their resilience in the Kingdom of Saudi Arabia through forming a strong and long-term connection to the ecological and economic system, not focusing only on short term profitability.

Under the terms of the MOU, the Ministry of Economy & Planning and Clarity AI will:
– Cooperate and encourage companies’ sustainable participation in economic activities
– Cooperate in providing environmental and social visions for companies and institutions
– Exchange experiences in the use of big data techniques and in activities related to Clarity AI’s competence, tools, and customization capabilities
– Examine ways of cooperation in the field of training Saudi personnel to understand and analyze sustainability data
– Participate in events and activities of common interest
– Facilitate discussions between companies and government agencies related to sustainability issues

Rebeca Minguela, Founder and CEO of Clarity AI, added: “Making strides forward in ESG and sustainability is an important part of Saudi Arabia’s National Transformation Program, and there is a clear commitment to building a business ecosystem which rewards companies and investors with the aim to create value beyond just financial returns. Bolstering transparency, accountability and reporting rigor is critical to the Kingdom achieving its sustainability goals.”

About Clarity AI

Clarity AI is a sustainability technology platform that uses machine learning and big data to deliver environmental and social insights to investors, organizations, and consumers. As of January 2023, Clarity AI’s platform analyzes more than 50,000 companies, 320,000 funds, 198 countries and 188 local governments – 2 to 13 times more than any other player in the market – and delivers data and analytics for investing, corporate research, benchmarking, consumer ecommerce and reporting. Clarity AI has offices in North America, Europe and the Middle East, and its investor client network manages tens of trillions in assets under management, while its consumer partnerships allow it to be part of millions of daily ecommerce transactions and to reach hundreds of millions of consumers at over 400,000 merchants.

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