Page 24 - SAMENA Trends - December 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

significant milestone in our journey towards
a sustainable future. This perfectly aligns
with our strategy to integrate sustainability
across all operations and brings us
closer to our net-zero ambitions. By
collaborating with global governments and
industry leaders, e& is taking a leadership
role in leveraging digital innovation
for climate action and driving positive
change on a global scale.” The ‘Principal
Technology Partner’ for COP 28’s recent
announcements underscore its dedication
to sustainability. e& has committed to
achieving net-zero emissions across its
operations (Scope 1 and 2) in all markets by
2040, building on its previous commitment
to net-zero emissions in UAE operations
by 2030. e& also announced a Group-
wide reduction target of 43 per cent for
Scope 1 and 2 emissions and a 25 per cent
reduction in Scope 3 emissions by 2030.
e& is implementing several sustainability
initiatives through its specialist business
vertical e& enterprise, which provides digital
solutions and technologies that support
the decarbonization of numerous carbon-
intensive industries. e& also took initial of a sustainable loan of AED366 million, 30 million individuals through enhanced
steps to deploy the first net-zero 5G Massive aligning with our commitments at COP28, network access, financial services, and
MIMO site in the MENA region through towards financing sustainable projects technology education by 2025. These
its legacy telecom arm, etisalat by e&. and driving positive community impact, initiatives and commitments demonstrate
Lung added: “Our journey to a sustainable and climate transition in the technology e&'s dedication to integrating sustainability
future is defined by decisive actions and sector.” Additionally, e& has joined the and environmental responsibility into every
strategic partnerships as well as the World Economic Forum's EDISON Alliance, aspect of its operations, reflecting its
recent launch of the Group’s Sustainable pledging to contribute significantly to the commitment to a sustainable and inclusive
Finance Framework, involving the signing mission by striving to improve the lives of digital future.

e& Ends Talks to Hike Stake in Saudi Telco Mobily

The United Arab Emirates telecoms group stake in Saudi Arabia's Etihad Etisalat Telecommunications Group Co e& has
e& said it had ended talks to raise its (Mobily) to 50% and one share. "Emirates terminated discussions regarding a
possible increase in its shareholding in
Mobily," e& said in a company filing on the
Abu Dhabi exchange. "Following a period
of engagement, a way forward to conclude
the potential transaction could not be
determined. Hence, e& has now decided
not to pursue the financial transaction."
Formerly called Etisalat, e& is Mobily's
biggest shareholder with a 27.99% stake. In
March last year, e& made the offer to raise
its stake and suggested a price of 47 riyals
($12.53) per share. e& said it will continue
to focus on supporting Mobily as its major
shareholder and remains positive about the
company's future within the rapidly growing
Saudi market.

24 DECEMBER 2023