Agility Public Warehousing K S C P : and 13 Leading MENA Companies Pledge to Drive Change to Achieve a Net-Zero Future

Commit to combating climate change, cutting emissions by 2030, outlining net-zero roadmaps

Kuwait - 26 December 2023 - Agility, a supply chain services, infrastructure and innovation company, affirmed its commitment to combating climate change as a signatory to the World Economic Forum's joint communique on achieving a net-zero future for the Middle East.

Agility is one of 14 leading companies from the Middle East and North Africa that signed the communique. The companies, members of the World Economic Forum's Leaders for a Sustainable Middle East and North Africa initiative, pledged to: 1) Drive their organizations to net zero; 2) Deliver near-term emission reductions, 3) Enable greener growth; 4) Build awareness and capability, especially among consumers and supply chain participants; 5) Collaborate with the public sector to create an enabling ecosystem.

"Representing 7% of MENA's current emissions, this coalition of top business leaders are going beyond pledges and are stepping up with concrete actions to reduce emissions and mobilize the ecosystem towards a net-zero future. This is not only about combating climate change, but about seizing the opportunity to drive a sustainable, inclusive and resilient future for the region," said Borge Brende, President of the World Economic Forum.

Agility has taken a group-wide approach in its sustainability efforts. All Agility group companies pursue ESG strategies tailored to their industry contexts. Menzies Aviation and Tristar, Agility's two largest subsidiaries, are responsible for the majority of Agility's overall emissions and have each established net-zero goals. Menzies aims for net zero by 2045; Tristar's target is 2050. In the short term, Menzies plans to reduce Scope 1 & 2 emissions by 50% and Scope 3 emissions by 20% by 2030, aligned to the Science Based Targets initiative (SBTi) corporate Net Zero standard. Meanwhile, Tristar has set annual operational energy consumption intensity and CO2 emissions reduction goals of 30,000 tons/year which is approximately around 35% of its total emissions under Scope 1 & 2. Tristar aims to contribute to climate actions through using zero emission fuels in 5% of its deep-sea shipping by 2030. This will be in line with achieving the IMO Initial GHG strategy objective of 40% reduction of CO2 emissions per transport work compared to 2008, by 2030. Tristar is also one of the first signatories to 'Forward Faster', a UN Global Compact initiative guiding companies on where they can make their biggest and fastest impact for 2030.

Agility Logistics Parks (ALP), another Agility subsidiary, is pioneering the use of sustainable materials and designs across the MENA region. ALP's warehousing complex in Riyadh, Saudi Arabia, and the company's warehousing complex in Cote d'Ivoire earned the first EDGE Advanced Certifications ever awarded in MENA and West Africa, respectively. This certification, an IFC-backed standard, recognizes buildings that are at least 40% more energy-efficient than the market. Agility was recently named the No. 3 sustainability leader in MENA's Transport & Logistics sector by Forbes as part of its Middle East Sustainability 100 list.

Tarek Sultan, Agility Vice Chairman, said: "Sustainability is a central focus for Agility, and we seek collaboration with partners who share our vision. Joining WEF's initiatives for climate change in the MENA region is a reflection of that commitment, and our on-ground sustainability efforts are a testament to our resolve. We believe collaboration like this is critical if the region is to cut emissions and reach net zero."

The signatories,

1. Tarek Sultan, Chief Executive Officer and Vice-Chairman, Agility (Kuwait)
2. Marco Arcelli, Chief Executive Officer, ACWA Power (Saudi Arabia)
3. Majid Jafar, Chief Executive Officer, Crescent Petroleum (United Arab Emirates)
4. Hatem Dowidar, Group Chief Executive Officer, e& (United Arab Emirates)
5. Shayne Nelson, Group Chief Executive Officer, Emirates NDB (United Arab Emirates)
6. Hana Al Rostamani, Group Chief Executive Officer, First Abu Dhabi Bank (United Arab Emirates)
7. Abdulaziz Al-Helaissi, Group Chief Executive Officer, Gulf International Bank (Bahrain)
8. Mohammed Alardhi, Executive Chairman, Investcorp (Bahrain)
9. Ahmed Galal Ismail, Chief Executive Officer, Majid Al Futtaim Holding (United Arab Emirates)
10. Helmut von Struve, Chief Executive Officer, Siemens UAE & Middle East (United Arab Emirates)
11. Jasim Husain Ahmed Thabet, Group Chief Executive Officer and Managing Director, Abu Dhabi National Energy Company (TAQA) (United Arab Emirates)
12. Lina Noureddin, Managing Director and Chief Executive Officer, Lamar Holding (Bahrain)
13. Abdulrahman Al Hatmi, Group Chief Executive, Oman Global Logistics Group (ASYAD) (Oman)

Khalil Yassine, Head, Unilever Arabia (United Arab Emirates)