DP World promotes transparent sustainable infrastructure development
DUBAI : DP World has published a Sustainable Development Impact Disclosure (SDID), making it the first company globally to adopt and disclose its development impact in countries of focus following the recently released impact disclosure guidance from the Impact Disclosure Taskforce.
Furthermore, DP World invites industry participants and practitioners to share their feedback during a four-month public consultation period, from 18 April to 1 September, to shape and refine the guidance.
This disclosure acts as a framework for private sector entities and sovereigns to showcase their role in fostering change through significant infrastructure projects in emerging markets and developing economies.
“I am immensely proud to announce the publication of our new Sustainable Development Impact Disclosure, which embodies our commitment to changing what’s possible through infrastructure development. This disclosure not only demonstrates our commitment to sustainable development but also sets a path for industry-wide accountability. It’s a call to action, to catalyse positive change and drive sustainable infrastructure development on a global scale,” stated Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World.
The SDID, crafted in alignment with the latest disclosure directives from the Impact Disclosure Taskforce and spearheaded by JP Morgan Development Finance Institution and Natixis, utilizes impact assessment and monitoring to evaluate the effects of investments in advancing the UN’s Sustainable Development Goals and narrowing prevailing development disparities.
Also, it promotes transparency, accountability, and a genuine dedication to sustainable development while empowering global financial markets to make well-informed financing decisions based on credible, publicly disclosed data.
By capitalizing on established best practices and resources, a five-step procedure has been outlined to gauge and reveal the impacts of corporate strategies or national development agendas. The SDID is distinguished by its entity-level approach, focus on impact, forward-looking perspective, and contextual specificity.
According to the statement, DP World and the Taskforce welcome feedback on the SDID and invite the industry to contribute their insights to further enhance the effectiveness of the guidance. Experts and relevant stakeholders are encouraged to provide feedback by visiting www.orrick.com/IDTfeedback by 1 September 2024.
“By publishing its Sustainable Development Impact Disclosure, DP World demonstrates that it intends to manage its business to achieve both financial returns and development impact. I commend DP World for its commitment to promote sustainable and inclusive economic growth in places where it’s needed most to meet our global goals,” commented Arsalan Mahtafar, co-chair of the Impact Disclosure Taskforce and head of J.P. Morgan’s Development Finance Institution.