Page 35 - SAMENA Trends - July-August 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Analysys Mason Recognized as One of the World’s Best Management
Consulting Firms

An ongoing global pandemic, coupled with supply chain issues and
economic uncertainty, has left many companies scrambling around
the globe to adapt to these changes and to a new environment.
Despite these challenges, the role of management consultants—
those responsible for guiding organizations through disruption—is
more important than ever. To help business leaders choose from
the wide range of consultancies, Forbes partnered with market
research company Statista to launch our inaugural ranking of
the World’s Best Management Consulting Firms. Statista has
established several worldwide top lists in the field of management
consultancies, and has conducted such analyses across the U.S.,
Germany, France, the U.K., Switzerland and Japan. To determine
this list, Statista looked at the results of these country-wide top lists
and created a top list of the World’s Best Management Consulting
Firms. All six top lists are based on a similar methodology and
take into account numerous recommendations from consultants
and clients of consulting firms. The ranking is divided into 13
sectors—from aerospace and defense to financial institutions—
and 14 functional areas—including strategy, sustainability and
digital transformation. The 230 firms that received the most
recommendations are ranked according to star ratings: five stars
for “very frequently recommended,” four stars for “frequently
recommended” and three stars for “recommended.”

Arthur D. Little New Report ‘Actively Shaping the

Future’ Highlights

Sustainability has gained significant company can achieve excellence in ESG, banking group in the Kingdom, creating
traction in financial services over the last including Telecom Logistics Industrials the first sustainable finance framework.
few years, moving it center stage, as it lies (20%), Real Estate (10%), and Financials The Red Sea Development Company was
driven by a range of stakeholders including (30%). Out of major insurers in the region, recognized as a global ESG leader in the Real
governments and regulators, investors, only half are disclosing ESG information, Estate sector as sustainability has been a
and clients themselves. Environmental, yet regional insurers are developing ESG core guiding principle since the inception
social and governance (ESG) are central practices and increasing maturity in ESG of the regenerative tourism project. The
factors in measuring the sustainability reporting, with key best practices emerging. Arab Federation of Exchanges currently
and ethical impact of a company. Today, Other major regional public-private references three ESG rating systems which
over 90 percent of global emissions are organizations are developing frameworks cover companies in the region – Refinitiv
now covered by Net Zero commitments. In for involvement in ESG finance. Majid Al ESG Score being mostly recommended
the GCC alone, the financial sector is the Futtaim, a leading retail conglomerate in as it is widely used and directly measures
largest contributor to the list, indicating the MENA region with 40+ shopping malls company ESG performance (vs. risk)
that insurance companies have potential and other developments, is implementing offering a 97% share of MENA sustainability
to achieve high levels of ESG performance. a Green Finance Framework to support leaders score out of 100 points. Refinitiv
Overall, GCC companies still have room its ESG activity. Saudi Arabia’s Public rates ESG performance, commitment, and
to grow to meet top global performers Investment Fund (PIF), a $430bn sovereign effectiveness across 10 main themes while
with more mature ESG activity. Across the wealth fund that has been actively involved Accounting for industry and company size
GCC region, adoption of ESG requirements in the transformation of KSA, partnered biases, examples include Aramco (44),
is largely optional, but the development with BlackRock on ESG finance. Next, HSBC Zain (68), and Emirates NBD (35). Another
of requirements remains ongoing. High and Saudi National Bank have created a main ESG rating systems used in the region
performers on ESG come from a variety Sustainable Finance Framework making is S&P, one of the world's biggest rating
of countries and sectors, proving that any Saudi National Bank (SNB) the largest agencies which recently expanded into the

35 JULY-AUGUST 2022