Page 21 - SAMENA Trends - July-September 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

stc Group Paves the Way for Sustainable Transformation

stc Group, a leading digital enabler, launched its fifth annual sustainable devices.
sustainability report, continuing its commitment to driving • Empowering stc Group Employees:
forward sustainable transformation through environmental, • In 2023, women comprised 64% of the Group’s Talent Incubation
social, and governance (ESG) excellence. The initiatives outlined Program hires and held 18% of our Board seats, contributing to a
in stc Group’s 2023 Sustainability Report contribute to sustainable 31.6% overall hiring rate for women.
transformation and a future where businesses are the catalysts • The Group also increased the number of employees with
for protecting people and the planet. As part of the updated disabilities by 36.8% from 2022. As an equal opportunity
sustainability framework, the Group identified three core pillars in employer, stc provides an inclusive work environment that
2023: attracts, develops, and retains the best and most talented
Environmental Performance & Climate individuals from all backgrounds.
stc Group aspires to be a global leader in environmental stewardship • Contributing to Community Development: Investment and
and has made significant progress toward its commitment to development in communities at stc Group is paramount, and
achieving net zero by 2050. This commitment has been validated in 2023 focused across six key areas: Education, Environment,
and approved by the Science Based Targets Initiative (SBTi) and is Sports & Health, Entrepreneurship, Community Development,
supported by several environmental performance programs. Key and Youth Empowerment. One key program in 2023 supported
initiatives and programs include the installation of 7 operational 446 non-profits through a Technical Enablement Program
solar powered sites at headquarters, as well as the incorporation (TEP), supporting operational efficiency and reduced technical
of energy efficiency and sustainability measures for data centers operational costs across 50 cities, saving these non-profits more
and towers. Additionally, a solar pilot project launched for 18 sites than SAR 56 million.
across the Kingdom. The Group has also implemented advanced Strong Governance & Ethical Excellence
power-saving technologies using artificial intelligence (AI), stc Group is dedicated to embodying a standard ethical governance
resulting in a 13% reduction in energy consumption across stc’s that upholds the utmost levels of integrity, transparency, and
4G and 5G networks. accountability. In 2023, stc Group transitioned its compliance
Human Capital Development Through Technological Innovation function from legal affairs to an independent division reporting to
Fundamental to stc Group’s sustainability practices are initiatives the Chief Regulatory and Compliance Officer, ensuring programs
that advance human capital by creating opportunities for growth across subsidiaries rigorously adhere to performance standards,
that bridge societal divides through technological innovation. thorough impact assessments, and responsible business practices.
These social investment initiatives enrich the lives of customers, This included the expansion of the rawafed program, which boosts
empower stc Group employees, and contribute to community the local economy and promotes sustainable business. Through
development in impactful ways. rawafed, stc partnered with 134 local SME suppliers and increased
• Enriching the Lives of Customers: Through its trade-in program, the number of local content certificates from 75 in 2022 to 582 in
stc Group ensures customers are offered affordable and 2023, a 676% growth that is reflected across the local economy.

stc Group Concludes Its Participation in the Global AI Summit with Strategic
Agreements and Launch of AI Lab

stc Group, an enabler of digital transformation, concluded its
participation in the Global AI Summit by signing a series of strategic
agreements with Saudi Railways (SAR), King Abdullah University
of Science and Technology (KAUST), Huawei, the Research,
Development, and Innovation Authority, and SambaNova Systems.
stc's participation in the summit highlights its leadership role in
driving digital transformation both locally and globally, showcasing
its innovative solutions, products, and technologies, and reaffirming
its commitment to positioning Saudi Arabia as a leading digital hub
in the Middle East. The agreements aim to accelerate the group's
strategic objectives in various fields, including Artificial Intelligence,
innovation, and digital transformation. Among these partnerships
is an agreement with Saudi Railways to enhance customer services
through AI-based technological solutions that improve operations
at all levels. Additionally, stc signed a strategic cooperation
agreement with King Abdullah University of Science and Technology
to establish a research center specializing in generative AI within
the group. This center is the first of its kind in the region for R&D

21 JULY-SEPTEMBER 2024