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Business Times
3 days ago
- Business
- Business Times
With IPO in the bag, Sheffield Green plots training and listing spinoff for wind energy sector
[SINGAPORE] Getting its training centres off the ground took time and resources, but Sheffield Green is going all in on what it calls a 'new product line', with five to six centres set to be running by end-2025 – plus a potential spinoff and listing on the horizon. Sheffield Green – itself a spinoff of oil and gas recruiter Sheffield Energy – supplies manpower for the renewable energy sector, particularly in offshore wind. After its 2023 Catalist debut, the company looked to diversify and realised that it was spending heavily on third-party training for its workers. The Global Wind Organisation (GWO), a non-profit industry body, requires industry workers to be certified in basic training courses, with a mandatory refresher every two years. Having its own training centre meant Sheffield Green's manpower arm could become a client of its training arm, allowing revenue to be recognised within the group, said chief executive officer Bryan Kee. Running a centre solely for its own staff would not make financial sense, but Kee saw an opportunity. The company's existing manpower clients also needed to train their other workers, and could become paying customers of the training business. The group teamed up with a UK-based training solutions provider as a technical consultant to launch its first centre in October 2024 in Taiwan, where most of its business is based. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Seeing firsthand the strong margins in training, Kee realised this could be a lucrative new line. Sheffield Green thus set about exploring acquisitions, snapping up a business in Spain this June; it also hired a CEO, who came on board two months ago, to run the training arm. One-stop training shop Kee explained that, because GWO-accredited training is standardised, providers have to differentiate on price or delivery. Sheffield Green's offering, while 'not the cheapest out there', was developed with a consultant that 'sets the standard' in the field, and is aimed at large corporate clients that prioritise quality over cost savings. In Taiwan, the company currently runs three courses: GWO's Basic Safety Training, Advanced Rescue Training and Basic Technical Training. Kee is looking to introduce more course types, and is in talks with one of the world's largest turbine manufacturers to add product training to the centre's list of offerings. Citing a 2024 report by the GWO and Global Wind Energy Council, he pointed out the expected global shortage of skilled technicians to support the onshore and offshore wind sector. The report noted that, by 2028, more than 532,000 new wind technicians will be needed, with 40 per cent of these roles to be filled by new entrants. 'We do not want just to be a supplier to our clients,' said Kee. 'We want to be a long-term partner.' Over in Spain, Sheffield Green's training centre already offers more than 10 courses; this expertise could be shared with its other centres. Its existing training customers could also be potential clients for Sheffield Green's recruitment business. The decision to use acquisitions to expand Sheffield Green's training facilities was also financially driven. With an already-operational centre such as the one in Spain, 'straight away, you bring in the revenue', said Kee. In contrast, it took a year of preparation before the Taiwan centre commenced operations in late January and began to generate revenue in February, though it has now broken even. In the meantime, startup costs, including for rentals and instructor training, contributed to administrative expenses and finance costs, including in the first half of the 2025 financial year. This is why the training business involves a mix of greenfield projects and acquisitions. 'We can afford it,' said Kee. In Taiwan, Sheffield Green has a term loan which will be fully repaid by March next year; in Singapore, the company has 'cash sitting in the bank', the chief executive added. For H1 FY2025 ended Dec 31, 2024, Sheffield Green's revenue slipped marginally by 2.3 per cent to US$9 million, from US$9.2 million in the same period a year earlier. Kee attributed the dip to the completion of two major projects, as payments for its manpower services are made on a recurring, 30-to-60-day basis. He noted, however, that these clients are expected to continue engaging Sheffield Green's services. Meanwhile, the cost of services grew US$0.4 million or 6.5 per cent in that half-year, in line with the general increase in labour costs, as well as accounting for one-off tax-related costs for mobilising staff across borders. While Sheffield Green had at that time borne the cost of its client in Taiwan taking the recruiter's employees across jurisdictions to service other projects, it has since engaged tax consultants to familiarise itself with different regimes and renegotiated contracts to pass on such costs. For the period, the group recorded a net profit after tax of US$101,344, down from US$474,840 in H1 FY2024. Adding more facilities Based on May data, training now contributes up to 10 per cent of the group's revenue, Kee said. 'For a training business, the Ebitda (earnings before interest, taxes, depreciation and amortisation) can go as high as 40 per cent, depending on how you manage the training centre.' He added that the premises and equipment are a one-time investment. While funds are needed for things such as maintaining equipment, rental and utility bills, instructor costs and support roles, these are not too costly. Beyond the two training centres in Taiwan and Germany, Sheffield Green is also exploring the acquisition of UK-based training solutions provider Advanced Blade Repair Services, which Kee hopes to be finalised by end-August. In February this year, it entered into a joint venture (JV) in Malaysia to set up and run a centre in Sarawak. The JV partner has bought the land for the development, and they target to have the centre operational in about 10 months, Kee noted. Whether Sheffield Green builds from scratch or buys depends on several factors, including market maturity and the availability of acquisition targets. In the UK, a mature market, there are a hundred big and small players already, Kee pointed out. 'Why should I be number 101?' But in Sarawak, where options are limited, he added that there is 'still room for me to play'. Deciding where to base the training centres is not solely about where labour is needed, but also takes into account where international companies source their hires. Kee said that Malaysia, the Philippines and India are key labour export markets, thanks to their lower cost. In addition to the centres already in the works, Sheffield Green is considering acquiring two more from a training solutions provider in the Baltics. 'By the end of this year easily, we will have at least five to six training centres that will be generating revenue,' said Kee. Once that is all in place, the group plans to explore spinning off the training business and taking it public. 'If you ask me what's the long-term plan, this (training) business will be standalone,' he continued. While Sheffield Green would remain its biggest shareholder, it would also be able to service its competitors as an independent training partner, said Kee. The group is also considering two further greenfield projects in South Korea and Saudi Arabia, though these may not happen this year, as it plans to wait until the Malaysian greenfield centre is up and running. Industry headwinds While the offshore wind industry is still expected to grow significantly, it has seen recent setbacks. US President Donald Trump's administration is attempting to stymie support for renewable energy sources, disrupting progress in offshore wind. While Sheffield Green supplies manpower for several US-based offshore wind projects, it had held off on previously announced plans for a US office when a second Trump term seemed possible. 'There are plenty of other places I can focus (on),' Kee said. 'The capital (leaving the US) will go somewhere else for investment,' he noted, naming Australia as one potential beneficiary. 'So we are looking seriously at Australia as a market itself.' And although macroeconomic challenges and underdeveloped infrastructure have led to several high-profile offshore wind project cancellations in various countries, Kee believes that there are 'still very good markets'. In the UK, for example, oil and gas companies 'are all dying' despite there being abundant oil in the North Sea, as the government is 'pushing everything into offshore wind'. So whether individual countries' governments are supportive of the renewables shift is an important factor that can help the industry weather the storm, he said. In the close to two years since its listing, Sheffield Green's share price has not been able to reach its initial public offering (IPO) price of S$0.25 per share. Asked what he would say to potential shareholders, Kee replied: 'Definitely, I think, with the diversification that we have with training… gradually that will contribute to the group, that will push up the profitability of the company.' The company has remained profitable since going public, and has continued to pay dividends, he added. 'We will still continue to do that.'
Business Times
3 days ago
- Business
- Business Times
From two centres to IPO: offshore wind recruiter Sheffield Green plots training spinoff
[SINGAPORE] Getting its training centres off the ground took time and resources, but Sheffield Green is going all in on what it calls a 'new product line', with five to six centres set to be running by end-2025 – plus a potential spinoff and listing on the horizon. Sheffield Green – itself a spinoff of oil and gas recruiter Sheffield Energy – supplies manpower for the renewable energy sector, particularly in offshore wind. After its 2023 Catalist debut, the company looked to diversify and realised that it was spending heavily on third-party training for its workers. The Global Wind Organisation (GWO), a non-profit industry body, requires industry workers to be certified in basic training courses, with a mandatory refresher every two years. Having its own training centre meant Sheffield Green's manpower arm could become a client of its training arm, allowing revenue to be recognised within the group, said chief executive officer Bryan Kee. Running a centre solely for its own staff would not make financial sense, but Kee saw an opportunity. The company's existing manpower clients also needed to train their other workers, and could become paying customers of the training business. The group teamed up with a UK-based training solutions provider as a technical consultant to launch its first centre in October 2024 in Taiwan, where most of its business is based. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Seeing firsthand the strong margins in training, Kee realised this could be a lucrative new line. Sheffield Green thus set about exploring acquisitions, snapping up a business in Spain this June; it also hired a CEO, who came on board two months ago, to run the training arm. One-stop training shop Kee explained that, because GWO-accredited training is standardised, providers have to differentiate on price or delivery. Sheffield Green's offering, while 'not the cheapest out there', was developed with a consultant that 'sets the standard' in the field, and is aimed at large corporate clients that prioritise quality over cost savings. In Taiwan, the company currently runs three courses: GWO's Basic Safety Training, Advanced Rescue Training and Basic Technical Training. Kee is looking to introduce more course types, and is in talks with one of the world's largest turbine manufacturers to add product training to the centre's list of offerings. Citing a 2024 report by the GWO and Global Wind Energy Council, he pointed out the expected global shortage of skilled technicians to support the onshore and offshore wind sector. The report noted that, by 2028, more than 532,000 new wind technicians will be needed, with 40 per cent of these roles to be filled by new entrants. 'We do not want just to be a supplier to our clients,' said Kee. 'We want to be a long-term partner.' Over in Spain, Sheffield Green's training centre already offers more than 10 courses; this expertise could be shared with its other centres. Its existing training customers could also be potential clients for Sheffield Green's recruitment business. The decision to use acquisitions to expand Sheffield Green's training facilities was also financially driven. With an already-operational centre such as the one in Spain, 'straight away, you bring in the revenue', said Kee. In contrast, it took a year of preparation before the Taiwan centre commenced operations in late January and began to generate revenue in February, though it has now broken even. In the meantime, startup costs, including for rentals and instructor training, contributed to administrative expenses and finance costs, including in the first half of the 2025 financial year. This is why the training business involves a mix of greenfield projects and acquisitions. 'We can afford it,' said Kee. In Taiwan, Sheffield Green has a term loan which will be fully repaid by March next year; in Singapore, the company has 'cash sitting in the bank', the chief executive added. For H1 FY2025 ended Dec 31, 2024, Sheffield Green's revenue slipped marginally by 2.3 per cent to US$9 million, from US$9.2 million in the same period a year earlier. Kee attributed the dip to the completion of two major projects, as payments for its manpower services are made on a recurring, 30-to-60-day basis. He noted, however, that these clients are expected to continue engaging Sheffield Green's services. Meanwhile, the cost of services grew US$0.4 million or 6.5 per cent in that half-year, in line with the general increase in labour costs, as well as accounting for one-off tax-related costs for mobilising staff across borders. While Sheffield Green had at that time borne the cost of its client in Taiwan taking the recruiter's employees across jurisdictions to service other projects, it has since engaged tax consultants to familiarise itself with different regimes and renegotiated contracts to pass on such costs. For the period, the group recorded a net profit after tax of US$101,344, down from US$474,840 in H1 FY2024. Adding more facilities Based on May data, training now contributes up to 10 per cent of the group's revenue, Kee said. 'For a training business, the Ebitda (earnings before interest, taxes, depreciation and amortisation) can go as high as 40 per cent, depending on how you manage the training centre.' He added that the premises and equipment are a one-time investment. While funds are needed for things such as maintaining equipment, rental and utility bills, instructor costs and support roles, these are not too costly. Beyond the two training centres in Taiwan and Germany, Sheffield Green is also exploring the acquisition of UK-based training solutions provider Advanced Blade Repair Services, which Kee hopes to be finalised by end-August. In February this year, it entered into a joint venture (JV) in Malaysia to set up and run a centre in Sarawak. The JV partner has bought the land for the development, and they target to have the centre operational in about 10 months, Kee noted. Whether Sheffield Green builds from scratch or buys depends on several factors, including market maturity and the availability of acquisition targets. In the UK, a mature market, there are a hundred big and small players already, Kee pointed out. 'Why should I be number 101?' But in Sarawak, where options are limited, he added that there is 'still room for me to play'. Deciding where to base the training centres is not solely about where labour is needed, but also takes into account where international companies source their hires. Kee said that Malaysia, the Philippines and India are key labour export markets, thanks to their lower cost. In addition to the centres already in the works, Sheffield Green is considering acquiring two more from a training solutions provider in the Baltics. 'By the end of this year easily, we will have at least five to six training centres that will be generating revenue,' said Kee. Once that is all in place, the group plans to explore spinning off the training business and taking it public. 'If you ask me what's the long-term plan, this (training) business will be standalone,' he continued. While Sheffield Green would remain its biggest shareholder, it would also be able to service its competitors as an independent training partner, said Kee. The group is also considering two further greenfield projects in South Korea and Saudi Arabia, though these may not happen this year, as it plans to wait until the Malaysian greenfield centre is up and running. Industry headwinds While the offshore wind industry is still expected to grow significantly, it has seen recent setbacks. US President Donald Trump's administration is attempting to stymie support for renewable energy sources, disrupting progress in offshore wind. While Sheffield Green supplies manpower for several US-based offshore wind projects, it had held off on previously announced plans for a US office when a second Trump term seemed possible. 'There are plenty of other places I can focus (on),' Kee said. 'The capital (leaving the US) will go somewhere else for investment,' he noted, naming Australia as one potential beneficiary. 'So we are looking seriously at Australia as a market itself.' And although macroeconomic challenges and underdeveloped infrastructure have led to several high-profile offshore wind project cancellations in various countries, Kee believes that there are 'still very good markets'. In the UK, for example, oil and gas companies 'are all dying' despite there being abundant oil in the North Sea, as the government is 'pushing everything into offshore wind'. So whether individual countries' governments are supportive of the renewables shift is an important factor that can help the industry weather the storm, he said. In the close to two years since its listing, Sheffield Green's share price has not been able to reach its initial public offering (IPO) price of S$0.25 per share. Asked what he would say to potential shareholders, Kee replied: 'Definitely, I think, with the diversification that we have with training… gradually that will contribute to the group, that will push up the profitability of the company.' The company has remained profitable since going public, and has continued to pay dividends, he added. 'We will still continue to do that.'
Daily Maverick
7 days ago
- General
- Daily Maverick
South Africa's wetlands are disappearing faster than we can restore them
South Africa's vital wetlands are degrading faster than investment in their rehabilitation. As a result, they are facing catastrophic decline. This follows a global trend of wetland decline, a key finding in the new Global Wetland Outlook. 'South Africa's wetlands are in critical decline,' Dr Farai Terrerai, director of biodiversity assessments at the South African National Biodiversity Institute (SANBI), told Daily Maverick upon the release of the 2025 Global Wetland Outlook on Tuesday, 15 July. This follows a global trend of declining wetlands, with severe impacts for people and the environment. The 2025 Global Wetland Outlook (GWO), published by the Convention on Wetlands and produced by its Scientific and Technical Review Panel, warns that without urgent action, one-fifth of the world's remaining wetlands could vanish by 2050. The estimated cost of that loss, according to the report, is up to $39-trillion in benefits that support people, economies and nature. The report ultimately synthesises recent scientific and economic evidence to examine the extent of wetland loss and degradation, the ecosystem services that wetlands provide, and the actions required to achieve international restoration and conservation targets. Wetlands in crisis and a call to action Wetlands, encompassing a diverse range of ecosystems, from marshes and swamps to coastal mangroves and coral reefs, are indispensable for human wellbeing and the planet's ecological balance. They provide myriad ecosystem services, including water purification, flood control, carbon sequestration and support for an astonishing 40% of known plant and animal species. Despite their immense value, the GWO 2025 paints a grim picture of widespread degradation across all regions, with millions of hectares lost and countless freshwater species pushed to the brink. Alarmingly, the GWO 2025 found that since 1970, an estimated 411 million hectares of wetlands (about 22% of the global total) have been lost, with an ongoing annual decline of 0.52%. The lead authors, including lead of the Freshwater Biodiversity Programme at SANBI, Nancy Job, said that these losses significantly affect water availability, biodiversity, climate stability and human wellbeing. The Outlook also found that degradation of wetlands globally now rivals outright loss, with about 25% of the remaining wetlands in poor ecological condition – this proportion is increasing in all regions. It estimates that the world's remaining wetlands contribute up to $39-trillion in benefits each year, yet conservation funding remains far below what is required. There are a number of interacting pressures leading to this, including agricultural expansion, pollution, infrastructure development, hydrological disruption and the impacts of climate change. In the opening remarks of the Outlook, secretary-general of the Convention on Wetlands Dr Musonda Mumba and chair of the Scientific and Technical Review Panel at the Convention on Wetlands Dr Hugh Robertson, state: 'The data presented in this Outlook are sobering.' They revealed that the economic value of wetlands lost over the past 50 years exceeds $5.1-trillion. But this figure fails to capture the full intrinsic worth and profound cultural significance of these vital ecosystems. Reduced access to clean water, increased vulnerability to natural disasters and rising greenhouse gas emissions are just some of the mounting costs associated with the decline of wetlands globally. The Outlook was launched in the lead-up to the Convention on Wetlands COP15 in Zimbabwe next week, when 172 countries will gather at Victoria Falls to strengthen international commitments for wetland conservation. Dr Evelyn Ndhlovu, the minister of the environment, climate and wildlife in Zimbabwe, said during the launch: 'Wetlands are among the most important ecosystems for water and biodiversity. Yet in many countries, including my own, they face growing pressure from land use changes, population growth and the impacts of climate change.' Ndhlovu called for better data, better coordination in response, and to effectively come up with the programmes that will change this status quo. The critical decline of South Africa's wetlands The GWO 2025 highlights that South African wetlands are degrading faster than they can be restored. Terrerai said the rate of degradation in the country continues to outpace investment in rehabilitation efforts. Terrerai said the main drivers of wetland degradation in South Africa align with regional trends in Africa, and include: urban, agricultural and industrial pollution; urban expansion; agricultural intensification; infrastructure development; and invasion by alien species. South Africa is showcased in a case study for developing a national wetland map and piloting an automated GIS-based WET-Health assessment. This GIS-based national assessment using WET-Health 2.0 indicates that wetlands are likely to be in worse condition than current desktop estimates suggest, due to unmeasured field-based impacts. Terrerai said this work, led by SANBI, supports national-level reporting and policy decisions by estimating the historical extent and current condition of wetlands. Terrerai added that a key finding from the Outlook was that wetlands in least-developed and lower-income countries, including many in Africa, were reported to be in the worst ecological condition globally. 'This has significant equity implications, particularly where people depend on wetlands for water, food and livelihoods,' said Terrerai. The GWO 2025 also emphatically states that while restoration is undeniably essential, prevention remains significantly more cost-effective. Terrerai said that even though many of South Africa's wetlands require restoration, protection of pristine wetlands and prioritising those in their early stages of degradation was more strategic than targeting wetlands that were at advanced stages of degradation. South Africa has strong goals for its wetlands as part of its national plan for protecting nature (NBSAP), which follows international agreements. The country is updating this plan to help reach global targets, such as restoring 30% of damaged ecosystems by 2030. However, even though wetlands are really important for dealing with climate change (like helping with floods or droughts), specific targets for wetlands aren't officially included in South Africa's national climate action plans (NDCs), according to Terrerai. Despite this, the NDC process requires different sectors to create their own climate response plans. In response, South Africa has developed strategies for its biodiversity and ecosystems sector that specifically includes protecting and restoring wetlands as a priority for adapting to climate change. Once wetlands are degraded, their restoration becomes an arduous and expensive undertaking. This is the bedrock of the Outlook's urgent call for a fundamental paradigm shift. Pathways forward Robertson said: 'The findings are challenging, reiterating the poor state of many of the world's wetlands, but the report is also hopeful. We need to be hopeful. And there is a pathway.' The Outlook presents four possible pathways to move forward in terms of the financing of all the work that is needed to conserve and restore the many values that wetlands provide people: Improve natural capital valuation and integration in decision-making: Wetlands have been systematically undervalued, leading to market failures. The Outlook calls for the use of new tools, which are already available, to capture the true wealth of wetlands, the invisible and visible, not just a limited subset of benefits. The Outlook asks policymakers to value wetlands as critical natural capital and integrate them into climate change, water management and sustainable development agendas; Recognise wetlands as an integral component of the global water cycle for all people: Shifting this perspective highlights wetlands as a global public good, crucial for addressing interlinked climate, biodiversity and water crises; Embedding and prioritising wetlands in innovative financial solutions for nature and people: This involves incorporating wetlands into mechanisms like green bonds, biodiversity credits and debt-for-nature swaps to mobilise significant investment; and Unlocking a private and public financial mix for investment in wetlands as nature-based solutions: Encouraging investments that mitigate negative impacts while delivering positive environmental co-benefits is crucial. The Outlook says public sector finance is vital to scale up these nature-based solutions. Journalist comment For South Africa, applying these pathways requires strong political will, widespread public support and significant financial investment. This means fostering cross-sectoral partnerships and implementing integrated, inclusive spatial planning to address pollution, habitat loss and overexploitation of water resources. By doing so, the nation can move from reactive responses to proactive policies, securing its natural wealth and the billions in benefits wetlands provide. The role of wetlands in Africa's development Dr Anthony Nyong, director of climate change and green growth at the African Development Bank said during the launch of the Outlook that wetlands were a major resource and very critical to Africa's development. 'Though wetlands occupy just 6% of the Earth's surface, they contribute about 7.5% to global GDP, yet this is undervalued… Currently, the report notes that biodiversity conservation across all ecosystems accounts for just 0.25% of global GDP. This shows a serious underinvestment,' Nyong said. Nyong added that between 1975 and now, the world lost an estimated $5.1-trillion in wetland-derived ecosystem services. He cautioned: 'If this trend continues, up to $39-trillion in global benefits could be lost by the year 2050.' Nyong urged that the protection of wetlands in Africa needed to be prioritised and said the continent needed to look into the resources it has. 'At the African Development Bank, we see wetlands as vital natural capital. Africa's economies are nature-dependent. In some countries, over 60% of GDP comes from sectors like agriculture, forestry and tourism. Yet these contributions are often missing from national accounts,' he said. That is why, at COP29 last year, Nyong said the African Development Bank launched a report titled Measuring the Green Wealth of Nations and called for Africa's GDP to reflect its true natural wealth. The African Development Bank is supporting countries to access climate and nature finance and is also helping African countries to develop investable nature-based projects, many of which centre on wetlands. But Nyong said challenges remain, including data and knowledge gaps, weak governance, insufficient funding and a limited pipeline of investable projects. 'This report we are launching today goes a long way in bridging the data and knowledge gap. We cannot say anymore that we didn't know. We know. And so let's put that as we plan our work.' DM
Express Tribune
01-06-2025
- General
- Express Tribune
Global water organisation launched to tackle crisis
The newly established Global Water Organisation (GWO) has officially commenced operations from its headquarters in Riyadh, following the signing of its founding charter by eight nations including Pakistan during an inaugural meeting in the Saudi capital. According to a statement from the Water and Power Development Authority (Wapda) on Sunday, the launching event "marked a major milestone in fostering international collaboration to address global water challenges." Federal Minister for Water Resources Mueen Wattoo represented Pakistan at the invitation of Saudi Arabia Minister of Environment Abdul Rahman Bin Abdul Mohsen Al-Fadley to share the country's perspective. "Pakistan along with other founding members signed the GWO charter, formally committing to the organisation's shared vision of strengthening international cooperation on water scarcity, sustainable resource management, and climate resilience, particularly in arid and water-stressed regions," it said. According to the Saudi Press Agency, the organisation brings together founding members from Saudi Arabia, Kuwait, Qatar, Spain, Greece, Senegal, Pakistan, and Mauritania, united by a shared commitment to sustainable water resource management.
Saudi Gazette
28-05-2025
- Politics
- Saudi Gazette
Founding nations sign Global Water Organization Charter in Riyadh
Saudi Gazette report RIYADH — Under the patronage of Crown Prince and Prime Minister Mohammed bin Salman, the Global Water Organization (GWO) officially launched operations from its headquarters in Riyadh on Wednesday, with founding member states signing the organization's charter. The ceremony witnessed the signing of the Global Water Organization Charter by representatives of the founding countries: Saudi Arabia, Kuwait, Qatar, Spain, Senegal, Pakistan, the Hellenic Republic, and Mauritania. Addressing the event, Minister of Foreign Affairs Prince Faisal bin Farhan said that the ceremony marked a pivotal moment in addressing global water challenges through a comprehensive approach to resource management and international cooperation. In the opening remarks, Prince Faisal conveyed the greetings and appreciation of Custodian of the Two Holy Mosques King Salman and the Crown Prince to the delegates from participating countries and organizations. The minister emphasized the critical importance of the Global Water Organization in tackling water issues worldwide through a holistic approach. "The launch of the Global Water Organization affirms Saudi Arabia's commitment to strengthening international initiatives and addressing global challenges through partnerships based on cooperation between countries and governments. The Kingdom looks forward to the organization becoming an international platform that drives sustainable solutions and supports developing nations in enhancing their water capabilities,' he said. Prince Faisal has highlighted that Saudi Arabia would provide financial and logistical support to the GWO for the next five years, emphasizing that collective action is essential to achieve shared objectives. Prince Faisal invited all countries of the world and private sector entities to join the organization. Minister of Environment, Water and Agriculture Abdulrahman Alfadley took part in the ceremony and emphasized that the signing charter of the Global Water Organization and the launch of its operations from Riyadh reinforce the shared international responsibility to preserve water resources. Alfadley added that the importance of the organization stems from the fact that water is not just a resource, but a source of economic and social development and stability worldwide. He described the organization as "not just a platform that brings countries together, but a collective global mind working to develop and integrate the efforts of countries and organizations to address water challenges comprehensively." "The Global Water Organization will lead international efforts to address water-related challenges and transform traditional water management approaches. These challenges go beyond water scarcity to ensure its availability at the right time and place and recognize its impact on the economy, public health, food security, and supply chains, especially in the face of climate change," Alfadley explained. The minister emphasized the importance of having an integrated system that covers all stages of the water cycle, adopting innovative economic models based on cost-benefit analysis, introducing new financing mechanisms, reducing reliance on government subsidies, and actively involving the private sector. The Global Water Organization represents a turning point in international cooperation on water issues through research and development programs, expertise exchange, and innovative solutions that enhance the sustainability of water resources worldwide. It aims to strengthen the efforts of countries and organizations to address water challenges comprehensively.
