Driving Sustainable Transition

Our ESG Strategy

We integrate ESG considerations into every aspect of our operations, from connecting renewables to reducing our environmental footprint. This ensures a secure, affordable electricity supply for all while fostering transparency and accountability through strong corporate governance.

Manish Manchandya

Executive Vice President, Strategic Planning and Investment

In 2023, SEC developed a forward-looking ESG strategy that aligns seamlessly with the Kingdom’s renewable energy goals and its pursuit of Net Zero emissions. This strategic direction is focused on long-term positive impacts and prioritizing sustainability in response to global challenges associated with transitioning to a decarbonized economy.
Endorsed by the Board, this comprehensive ESG strategy reflects SEC’s unwavering commitment to sustainability, responsible business practices, and long-term value creation. The strategy was developed through a comprehensive process incorporating the outcomes of a materiality assessment exercise, establishing key interim and long-term targets, actionable steps, and enablers to integrate ESG principles across the company.

Furthermore, SEC has formulated a 3-year detailed roadmap for shortlisted initiatives/ projects to deliver on key ESG strategy & meet its targets.
The strategy’s foundation lies in insights received from internal and external stakeholder consultations, investors’ expectations, and alignment with national and international priorities such as Vision 2030, the Circular Carbon Economy national program, the Liquid Displacement program, and the United Nations Sustainable Development Goals (UN SDGs). SEC through its extensive collaboration with the business lines, meticulously defined strategic objectives, key initiatives, and a roadmap for implementation. This inclusive approach considered all perspectives, maintained alignment with overarching business strategy, reinforced executive-level governance, and enhanced accountability – collectively contributing to the cohesive and effective implementation of the ESG initiatives.
SEC’s ESG strategy prioritizes action across four pillars: Climate Action, Nature & Circularity, People & Community and Responsible Governance as illustrated in the following pages.

SEC ESG Strategy Pillars

Environment Pillar

Social Pillar

Governance Pillar

Environment Pillar

Climate Action

Unlocking the Kingdom’s transition to renewables and Net Zero

Environment Pillar

Nature & Circularity

Preserving the environment and biodiversity

Social Pillar

People & Community

Preserving the environment and biodiversity

Governance Pillar

Responsible Governance

Exemplifying transparent, ethical, accountable and responsible business

Enablers of ESG Strategy

SEC has enabled accelerated progress on the ESG strategy implementation by embedding ESG across the five key operational elements by incorporating ESG-related factors into organizational processes and decision-making.

Governance

Risk Management

Localization

Financing

Digitalization

Alignment with National and International Priorities

SEC’s comprehensive ESG strategy, aligned with Vision 2030 and UN SDGs, underscores its commitment to sustainable development, societal progress, and environmental stewardship, shaping a brighter future for Saudi Arabia and beyond

SEC has undertaken multiple initiatives across the four pillars of its ESG strategy. The initiatives have been designed and executed in alignment with the strategic objectives of Vision 2030 and UN SDGs to promote positive advances and avoid detrimental impacts on the society and the environment.

Alignment with KSA Vision 2030

SEC plays a pivotal structural role in the economic pillar of the Kingdom’s Vision 2030 by providing reliable and high-quality electricity services nationwide. The company ensures alignment of its corporate strategy with the national vision, incorporating key components of Saudi Vision 2030, which charts a sustainable path for KSA’s future. The vision highlights the Kingdom’s importance on a global scale, offering insights into its unique challenges, culture, and opportunities. The aim is to ensure that the company’s sustainability efforts drive positive change and transition at the national and local levels. SEC actively contributes to the KSA Vision 2030 across its pillars of “A Vibrant Society,” “A Thriving Economy,” and “An Ambitious Nation” as outlined below.

Alignment with UN SDGs

In alignment with the UN SDGs, SEC aspires to add value to stakeholders, invest in people, protect the environment, deliver exceptional customer experiences, and endorse digitalization in the power sector and beyond.