Latest news with #SaudiElectricityCompany
Associated Press
4 days ago
- Business
- Associated Press
Saudi Electricity Company Achieves 30% Increase in 2025 Sustainability Rating Compared to 2024, According to S&P
The Saudi Electricity Company (SEC) has achieved a significant milestone in its Environmental, Social, and Governance (ESG) performance, as evaluated by S&P Global. RIYADH, SA / ACCESS Newswire / July 27, 2025 / The Saudi Electricity Company (SEC) has achieved a significant milestone in its Environmental, Social, and Governance (ESG) performance, as evaluated by S&P Global. The company scored 65 out of 100, marking a 30% increase compared to its 2024 score, and an 85% improvement over its 2023 rating. This accomplishment highlights SEC's strategic progress and reinforces its position as a regional leader and a benchmark for sustainable excellence in the energy sector. Notably, SEC's score exceeds the global utilities sector average of 39 points by 66%, demonstrating its strong commitment to sustainable development. The rating reflects SEC's comprehensive institutional commitment to sustainability, driven by effective governance frameworks, ambitious strategies, and tangible improvements in environmental and social performance. SEC also showcased proactive disclosure aligned with leading international sustainability reporting standards. This progress further underscores SEC's alignment with Saudi Vision 2030, particularly in advancing sustainable energy, enhancing transparency, strengthening investor confidence, and adopting global ESG best practices. SEC reaffirmed its commitment to continuously improving its ESG performance by deeply embedding sustainability across all operations, positioning itself as a trusted and responsible energy provider both regionally and globally. Contact InformationSaudi Electricity Company (SEC) Media Relations Department Unified Call Center: 920000222 SOURCE: شركة صانعي الخيال للدعاية والإعلان press release
USA Today
4 days ago
- Business
- USA Today
Saudi Electricity Company Achieves 30% Increase in 2025 Sustainability Rating Compared to 2024, According to S&P
The Saudi Electricity Company (SEC) has achieved a significant milestone in its Environmental, Social, and Governance (ESG) performance, as evaluated by S&P Global. RIYADH, SA / ACCESS Newswire / July 27, 2025 / The Saudi Electricity Company (SEC) has achieved a significant milestone in its Environmental, Social, and Governance (ESG) performance, as evaluated by S&P Global. The company scored 65 out of 100, marking a 30% increase compared to its 2024 score, and an 85% improvement over its 2023 rating. This accomplishment highlights SEC's strategic progress and reinforces its position as a regional leader and a benchmark for sustainable excellence in the energy sector. Notably, SEC's score exceeds the global utilities sector average of 39 points by 66%, demonstrating its strong commitment to sustainable development. The rating reflects SEC's comprehensive institutional commitment to sustainability, driven by effective governance frameworks, ambitious strategies, and tangible improvements in environmental and social performance. SEC also showcased proactive disclosure aligned with leading international sustainability reporting standards. This progress further underscores SEC's alignment with Saudi Vision 2030, particularly in advancing sustainable energy, enhancing transparency, strengthening investor confidence, and adopting global ESG best practices. SEC reaffirmed its commitment to continuously improving its ESG performance by deeply embedding sustainability across all operations, positioning itself as a trusted and responsible energy provider both regionally and globally. Contact Information Saudi Electricity Company (SEC) Media Relations Department alkahrabacare@ Unified Call Center: 920000222 SOURCE: شركة صانعي الخيال للدعاية والإعلان View the original press release on ACCESS Newswire
Miami Herald
4 days ago
- Business
- Miami Herald
Saudi Electricity Company Achieves 30% Increase in 2025 Sustainability Rating Compared to 2024, According to S&P
The Saudi Electricity Company (SEC) has achieved a significant milestone in its Environmental, Social, and Governance (ESG) performance, as evaluated by S&P Global. RIYADH, SA / ACCESS Newswire / July 27, 2025 / The Saudi Electricity Company (SEC) has achieved a significant milestone in its Environmental, Social, and Governance (ESG) performance, as evaluated by S&P Global. The company scored 65 out of 100, marking a 30% increase compared to its 2024 score, and an 85% improvement over its 2023 rating. This accomplishment highlights SEC's strategic progress and reinforces its position as a regional leader and a benchmark for sustainable excellence in the energy sector. Notably, SEC's score exceeds the global utilities sector average of 39 points by 66%, demonstrating its strong commitment to sustainable development. The rating reflects SEC's comprehensive institutional commitment to sustainability, driven by effective governance frameworks, ambitious strategies, and tangible improvements in environmental and social performance. SEC also showcased proactive disclosure aligned with leading international sustainability reporting standards. This progress further underscores SEC's alignment with Saudi Vision 2030, particularly in advancing sustainable energy, enhancing transparency, strengthening investor confidence, and adopting global ESG best practices. SEC reaffirmed its commitment to continuously improving its ESG performance by deeply embedding sustainability across all operations, positioning itself as a trusted and responsible energy provider both regionally and globally. SOURCE: شركة صانعي الخيال للدعاية والإعلان press release
CairoScene
19-07-2025
- Business
- CairoScene
Saudi Arabia & UAE Lead MENA in Sustainable Bond Issuance
Saudi Arabia led the MENA region in sustainable debt issuance, accounting for 66 percent of total activity. Total issuance from the Kingdom reached USD 6.25 billion, a 25% year-on-year increase. Saudi Arabia led the Middle East and North Africa (MENA) region in sustainable debt issuance during the first half of 2025, accounting for 66% of total activity, according to Bloomberg's Capital Markets League Tables. Total sustainable bond and sukuk (Islamic bonds) issuance from the Kingdom reached USD 6.25 billion, marking a 25% year-on-year increase. The Saudi government issued USD 1.58 billion, while Al Rajhi Bank issued two sustainable sukuks totalling USD 1.7 billion. Other major contributions came from Saudi Electricity Company (USD 1.25 billion), Alinma Bank (USD 500 million), and Saudi Awwal Bank, which issued an Additional Tier 1 (AT1) sukuk worth USD 650 million. The United Arab Emirates (UAE) followed, contributing 34% of the region's sustainable debt activity with USD 3.22 billion. Key UAE issuance included USD 700 million from the National Central Cooling Company (Tabreed) and USD 500 million from real estate developer Omniyat. Islamic finance instruments dominated the regional market, with total sustainable sukuk issuances reaching USD 6.8 billion, a 17% year-on-year increase. AT1 instruments - which help banks meet capital requirements under the Basel III international regulatory framework - reached USD 3.15 billion, the highest first-half figure recorded in the past five years. The Basel III framework will begin phased implementation in the region from 2026. Despite strong performances from Saudi Arabia and the UAE, overall sustainable bond issuance in MENA declined by 4.4% year-on-year, totalling USD 9.47 billion, compared to USD 9.91 billion during the same period in 2024. The drop was largely due to reduced activity in Egypt and Qatar and the impact of higher global interest rates.
Zawya
15-07-2025
- Business
- Zawya
Saudi Arabia, UAE lead sustainable bond issuances in MENA
Saudi Arabia topped the Middle East and North Africa (MENA) for sustainable bond issuances in the first six months of 2025, driven by Vision 2030 infrastructure spending, according to Bloomberg's Capital Markets League Tables. Issuances from the kingdom reached $6.25 billion in H1 2025, a 25% increase year-on-year (YoY) and accounting for 66% of total green, social, sustainable, and sustainability-linked (GSSS) bond activity in the region. The Saudi government led with a $1.58 billion issuance, while Al Rajhi Bank issued two sustainable sukuks totaling $1.7 billion. Additional issuers included Saudi Electricity Company ($1.25 billion), Alinma Bank ($500 million), and Saudi Awwal Bank with a $650 million additional tier 1 (AT1) sukuk. Annual regional GSSS issuances fell 4.4% to $9.47 billion in the first six months of 2025 from $9.91 billion a year earlier, impacted by higher global interest rates and a pause in deals from Egypt and Qatar. The UAE contributed the remaining 34% of the total, with $3.22 billion in GSSS issuances. Notable issuances were from National Central Cooling Company (Tabreed) at $700 million and real estate developer Omniyat, which raised $500 million, according to Bloomberg. Islamic instruments dominated the regional sustainable debt issuances, totaling $6.8 billion — a 17% YoY increase. AT1 issuance reached $3.15 billion — the highest first-half total in the past five years. AT1 issuances help banks comply with the Basel 3 framework ahead of the initial phase implementation in 2026. 'The sustainable bond market in Saudi Arabia and the UAE continues to mature and evolve,' Venty Mulani, Data Specialist - Sustainable Fixed Income, Bloomberg, said.
