Jul 08, 2020
stc Sustainability Report: Market Value for Entrepreneurship Projects reaches 300 Million and 18% Energy Savings
In its efforts to adopt the best responsible practices and raise the bar in the ICT sector, stc announced the publication of its first Sustainability Report, promoting its strategic role as a digital transformation enabler in Saudi Arabia and the region to maximize its ESG impact.
The report unveiled some interesting figures at the sustainability front, including a 18% decrease in power consumption compared to 2018 for buildings and internal transportation and the active contribution to giving over 3 million houses access to optical fiber technology (by installing 217,000 kilometers of new fibers in 2019 in a 23% increase) as well as innovative digital solutions such as the launch of “stc pay”, the largest e-wallet service in the region and the provision of all company services through “my stc” app.
The report also addressed support offered to Saudi entrepreneurs through the InspireU program, which incubated 28 startups to support ICT, contributing to the creation of approximately 160,000 full-time and part-time job opportunities, with a market value of SAR 300 million for projects supported by the incubator. In addition, the company undertook to establish 22 medical centers across Saudi Arabia thanks to investments of up to SAR 100 million in collaboration with the Ministry of Health.
The company’s sustainability framework includes the provision of high-quality digital communication services and products, enhancement of communication by promoting innovative digital opportunities, and provision of access to significant technologies at affordable prices by developing and adopting the best digital and communication infrastructure.
Through its sustainability strategy, the company will help people build their capacities, enrich their lives, and increase proposed value for stc’s key stakeholders, including clients, regulators, suppliers, business partners, investors, and shareholders, through several community development, business development, and environment protection initiatives.
The stc sustainability framework follows a unified vision that benefits its key partners both in Saudi Arabia and throughout the world. Designed to be in line with the aspirations of national strategies, global development plans, and the UN sustainable development principles, the framework sets to maximize the company’s positive impact in its business processes and the communication sector as a whole.
By strategically focusing its framework on sustainability, stc can significantly contribute to a sustainable future in fields such as doing business with integrity, maximizing economic impact, enriching life and experiences, expanding access to technology and communications, promoting innovative digital opportunities, caring for the environment, and empowering human resources.
The program falls in line with stc’s DARE strategy and new brand identity, reflecting its digital aspirations and focusing on its ESG responsibility. Through DARE, stc seeks to focus all areas of work on preserving its key principles of digitization, asset development, customer experience improvement, and expansion of the company’s size and scope, through its three values of dynamism, Drive, Devotions.
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