Page 17 - SAMENA Trends - June-August 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

internet and Communications Services accelerating the performance of assets. most regions of the Kingdom, and these
Company "solutions by stc" obtained the Lastly and despite all the challenges faced achievements are the result of continuous
approval of the Capital Market Authority due to Covid-19, stc has succeeded in efforts in developing the network systems
to offer 24,000,000 shares for public sub- maintaining its outstanding performance and infrastructure. After 5 years full of
scription representing (20%) of its shares. and achieving growth in most of its achievements in digital transformation
This will enable the company to achieve sectors. It has also been able to provide and integrated infrastructure, stc will
its strategy and goals that seek to develop support to the public and private sectors, continue its efforts to develop a reliable
and the information technology and digital enabling them to digitally transform, and advanced digital network and
services sector. The offering of Solutions preserve their business, and create new infrastructure enabling the Kingdom
by stc is also in line with stc's strategy, investment opportunities. In addition, stc of Saudi Arabia to become a leading
which aims to expand the scale and scope was able to build the largest advanced regional center for digital services through
and maximize returns for shareholders by 5G network in the Middle East covering innovative projects and global partnerships.

There is a Great Deal the Telecom Industry Can Do Together to Contribute
to a Low Carbon Economy: stc Group CEO

will reduce our energy consumption and
will include better energy management,
monitoring, and reporting – with clear
benchmarks and KPIs. We will also
develop renewable energy generation
at our campus and facilities throughout
Saudi Arabia. What’s more we will ensure
energy efficiency in our existing buildings
and assets and finally new buildings
will be designed and built with energy-
saving features.” He added: "Saudi Arabia
has committed to generating 50% of
electricity through renewable resources
by 2030 and to reach the environmental
targets organizations will be expected to
collaborate and work together to achieve
KSA’s sustainability goals. Eng. Alwetaid
was asked about the collaborations
stc has planned with its investors.
“Stakeholder engagement is an integral
part of our approach. By engaging with
stc Group CEO stc Eng. Olayan M. Alwetaid progress on the remaining obstacles and our key stakeholders, we make sure that
confirmed stc’s commitment to providing positive actions needed to address the we address the issues of most importance
a service, which is as environmentally climate crisis, particularly as the mobile to the business, both in our strategic
friendly, and to adopt integrated industry is one of the most advanced approach and in our reporting. We have
sustainable practices into every aspect in terms of laying out its commitments made excellent progress in aligning our
of our business. “We understand that as towards net zero by 2050.Alwetaid gave disclosures with international standards
a MENA digital enabler we have a duty his thoughts on a number of environmental such as GRI, SASB, national standards, and
to our country in Saudi Arabia and to our issues in the debate stating that stc the requirements of sustainability indices
customers to ensure we are operating in has been playing a pivotal role in Saudi and rating agencies.” He continued, “First
a sustainable manner.” Alwaetaid said Arabia’s digital transformation, which and foremost, mobile communications
while speaking in We Act For Impact" panel has seen the Kingdom launch a number are the key enabling factor in SMART
discussion during MWC Barcelona 2021, he of digital projects including the roll out technologies and applications; it enables
was among environmental experts and ICT and implementation of stc advanced 5G IoT and AI-based infrastructures through
infrastructure development leaders who technology. He said: “stc is committed to high-speed connectivity and low-latency,
met to discuss sustainability progress at reducing its carbon footprint and become real-time edge-computing applications.
the Green Agenda: We Act For Impact open a green network operator, and we have At stc, we also plan to reduce emissions
panel session during the Mobile World taken several steps to achieve this goal through a combination of engagements
Congress (MWC) Barcelona 2021. Through and reach Net Zero. We have developed a with our partners in the value chain and
open dialogue, the panel discussion asked Sustainable Energy Framework designed by developing e-services that reduce
ICT industry leaders to assess the latest to take us through 2030. These steps carbon emissions by providing services

17 JUN-AUG 2021