DNV and Emirates Steel Arkan have signed a Decarbonization Strategic Collaboration Agreement as part of a five-year collaboration.
Abu Dhabi, United Arab Emirates (UAE), May 30, 2023 – DNV, one of the world’s leading certification, assurance, and risk management providers, is pleased to announce the signing of a Decarbonization Strategic Collaboration Agreement with Emirates Steel Arkan, a prominent player in the steel and building materials producer industry. The Decarbonization Strategic Collaboration Agreement was formalized in the presence of senior leadership representing both companies, marking the beginning of a strategic partnership aimed at advancing sustainability and achieving net zero emissions in line with the UAE’s ambitious climate neutrality goals.
As part of this five-year collaboration, DNV’s Supply Chain & Product Assurance (SCPA) business area will lend its expertise to support Emirates Steel Arkan in driving the steel and building materials producer industry transition towards net zero and embracing sustainable practices. This partnership aligns with the strategic initiative of the UAE to achieve climate neutrality by 2050, and both organizations are committed to playing a pivotal role in this transformative journey.
In a statement released today, CEO of DNV SCPA, Geir Fuglerud, expressed his enthusiasm about this collaborative venture, stating, "DNV's strategic agreement with Emirates Steel Arkan is poised to streamline the development of low carbon products, drive a net zero trajectory, and accelerate decarbonization. This partnership reflects our shared vision and values in safeguarding life, property, and the environment, while demonstrating a strong commitment to sustainability and innovation. We believe this collaboration will enhance Emirates Steel Arkan’s industry leadership and further establish DNV as a trusted service provider in regional sustainability. I express my heartfelt gratitude to all the dedicated team members from Emirates Steel Arkan and DNV, as well as our valued partners and external supporters, for their invaluable contributions in making this collaboration a reality."
Group CEO of Emirates Steel Arkan, Eng. Saeed Ghumran Al Remeithi, added, “We are thrilled to collaborate with DNV Supply Chain & Product Assurance, a renowned industry leader in driving sustainable transformation, to strengthen our decarbonization, ESG, and energy transition efforts. Through this strategic partnership, we will be able to further advance our decarbonization strategy, accelerate the transition towards a low-carbon economy, and minimize our environmental footprint.
This collaboration also exemplifies our unwavering commitment to being at the forefront of sustainability, as a driver of positive change in the local and international industrial landscape.”
The Decarbonization Strategic Collaboration Agreement signed between DNV, and Emirates Steel Arkan formalizes their intention to collaborate on various initiatives. DNV will support Emirates Steel Arkan in the areas of Steel Decarbonization, ESG, Energy Transition, and Digitalizing ESC disclosures, serving as the basis for entering into separate contractual agreements. The scope of possible engagements and cooperation for the strategic ESG roadmap till 2030 includes strengthening carbon management, ensuring regulatory compliance, promoting digitalization and traceability, enhancing environmental product declarations, facilitating sustainable procurement and supply chain, providing strategic advisory services for energy transition, verifying and validating carbon credits, enabling sustainable finance for decarbonization, conducting social risk assessments and human rights due diligence, assuring non-financial disclosures, and addressing operational risk and cybersecurity.
This partnership between DNV and Emirates Steel Arkan holds the promise of reshaping the steel and building materials producer industry by fostering sustainability and driving meaningful change. Together, they aim to set new standards and lead the way towards a more environmentally conscious and resilient future.