Impactful
insights

Bahrain An Emerging Sustainability Powerhouse

Bahrain’s Ambitious Climate Goals

The Kingdom of Bahrain has set out an ambitious path to achieve net zero emissions by 2060, reinvigorating its economy and spurring new routes for sustainable growth. This strategy also opens significant opportunities for collaboration between innovators and the nation’s visionaries to fast-track sustainable practices and position Bahrain as a leader in global environmental action.

 

Bahrain: A Small Giant in Sustainability

As the Gulf’s smallest island nation, Bahrain has punched above its weight over the last few decades, making impressive strides toward ESG compliance and effective climate action. This progress has been achieved by adopting a well-rounded strategy that deserves attention.

 

A Partnership for Sustainable Development

The pursuit for a sustainable future can be traced back to 1971, when Bahrain joined the United Nations as a Member State, and began to participate in a range of UN councils, including the Economic and Social Council. Today, the UN country team comprises twenty agencies, funds, and programmes supporting the Government of Bahrain through both in-country and regional offices.

The enduring partnership between the UN and Bahrain has culminated in the UN Sustainable Development Cooperation Framework (UNSDCF), which represents a coherent and comprehensive partnership strategy and is guided by UN’s 2030 Agenda and Bahrain’s Economic Vision 2030 – a national strategy focused on sustainable economic growth, diversification, and improving the quality of life for Bahrain’s citizens by the year 2030.

Agenda 2030: Bahrain’s Blueprint for the Future

This initiative has led to the launch of Agenda 2030, a strategic framework to help transform the nation’s economic and social landscape to ensure sustainable development and improved living standards for all citizens. 

Begun in 2008, this agenda places a strong emphasis on sustainability, leveraging the country’s infrastructure and institutional processes. It represents Bahrain’s commitment to integrating environmental, social, and governance (ESG) principles across various sectors, thereby paving the way for a greener, more inclusive, and economically diverse future.

 

Steps Towards Transparency and Sustainability

Another important step aimed to protect the environment is the launch of voluntary ESG reporting guidelines for companies listed on the Bahrain Bourse, emphasising the importance of transparency in environmental, social, and governance aspects. 

Moreover, Bahrain’s National Energy Strategy aims for Net Zero emissions by 2060 and includes a transition to renewable energy sources. The establishment of a “Law on Restorative Justice” and significant investments in education and gender equality highlight social initiatives. 

Additionally, governance reforms enhance business transparency and sustainability, demonstrating Bahrain’s comprehensive efforts to integrate ESG principles into its economic and social fabric.

Bahrain’s focus on climate action resonates with Fils and its vision of a world where nations prioritise and enforce environmental stewardship wonthat greenwashing becomes a thing of the past.

 

Fils: Supporting Bahrain’s Green Vision

With the Kingdom’s openness to fintech innovation  Fils is well positioned to serve this important market, working with partners to provide a holistic and enterprise-grade product offering that aims to address the challenges of ESG implementation, making it more accessible for businesses to contribute to a sustainable future. 

We salute the strides that the Kingdom of Bahrain has made towards sustainable business practices and ESG compliance.  Its dedication to creating a greener, more inclusive, and economically diverse future positions it as a model for sustainable development in the region. At Fils, we are proud to align our efforts with this powerhouse and look forward to playing a role in accelerating its ambitions for a greener future.