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Yes, It’s Hot in Saudi Arabia – Where Air Conditioning is a Must-Have – How Can A/C Be Made More Sustainable to Meet Future Power Challenges? Many people are fascinated with the Kingdom of Saudi Arabia, with its wondrous 21st Century blend of modern and medieval elements – and the country appears to moving along with rapid and dramatic changes under new royal family leadership (Crown Prince Mohammed bin Salman). One of the elements of change that caught our eye is a non-Saudi business leader’s commentary that addresses the question of there being “a new model for sustainability” in the Middle East, possibly led by the kingdom…with its Vision 2030 and innovations in power consumption for air conditioning. Kevin Cha, President, LG Electronics for the Middle East and Africa -- wrote an opinion in the Saudi Gazette, telling us this week in our Top Story about what he thinks may be in store for the future. A diversified economy -- moving away from decades of heavy reliance on oil and natural gas sales to the world -- will mean (he asserts) more opportunities for Saudi subjects (they are not “citizens” in the western sense), and promises of a better lifestyle. And with all that, the increasing need for better technological-based solutions. For air conditioning, especially. This is the ideal time to instill values of resource management and sustainability in the “minds of millions of upwardly-mobile Saudis, Kevin Cha thinks. As example within his area of expertise: More than 70 percent of the kingdom’s generated electricity is consumed for air conditioning and cooling (yes, it is a desert-based kingdom) and summer demand is double that of winter months (note that it does get cooler in the Middle East winters). While less than 65% of the world’s electric needs are now met through steam turbines fueled by traditional fossil fuels, 100% of Saudi Arabia’s electricity is generated from fossil fuels (of course it has abundant supplies of these). But -- this is unsustainable for the long-term, Kevin Cha points out. Saudi Arabia’s Vision 2030 Plan for sustainable development could help to change this picture in dramatic terms. New technologies and new products are being introduced to the kingdom -- among them (curtain raised) is (of course) LG air conditioning products. The conditions in Saudi Arabia make for a challenging testing ground for A/C technology. (The local environment is dust-laden, corrosive, with high temperatures and humidity.) And so the LG Electronics products are being “battle-tested” in Saudi Arabia. Good for the company and the A/C industry: As the world’s demand for electric power (including Saudi Arabia’s needs to be met with continued economic growth), the kingdom is providing a test bed for the LC’s technologies and products. Saudi Arabia’s Vision 2030 calls for reducing reliance on oil and boosting state investment in the private sector. There are important elements of the program that call for growth of entertainment and tourism (ala, Gulf Emirates-style), and reforms of the education system. It is being formulated in “Our Vision” – Saudi Arabia…the heart of the Arab and Islamic worlds, the investment powerhouse, and the hub connecting three continents…” And with lower-cost, abundant air conditioning to cool your hot days through more sustainable means! Welcome to #400 of the newsletter! Many thanks to our VP & Editor-in-Chief and valued colleague Ken Cynar for his constant efforts in creating and managing the newsletter effort, which is part of the G&A Institute educational and information-sharing mission. Each day by dawn as the sun rises over the New York skyline, the G&A Institute staff has already been at work for hours utilizing our proprietary technologies, various search engines and finely-honed searching techniques to capture from around the world a variety of meaningful and informative news, commentaries and reports that present various points-of-view on topics that impact key issues for our loyal and new readers. By early each morning more than 1,000 potential content items are already searched, scanned, analyzed -- and several dozen handpicked for prominence that day on the G&A Websites. These possibilities are further whittled down to a manageable few items for presentation in this weekly newsletter. More than 150 stories are electronically selected from these thousands of potential digitized stories around the world each day for posting in key categories overall on the G&A web platforms (with many directed to easy-to-access ESG categories). What guides us: The belief that a news-savvy, well-informed universe of our valued connections – you! – will help to move the corporate sector and the investment community, further along, to create a more sustainable world for all. Here at G&A, a dedicated staff makes the entire news-gathering and sharing process work – and our special thanks to Ken, and to Amy Gallagher, VP-Client Services, who is the formatting expert for our communications (including these Highlights). Top Stories Is Saudi Arabia getting ready to unveil a new model for sustainability in the Middle East? Sustainability: Forward Momentum! For Your Attention: The Editors' Scans U.S. Economic Growth: A Sustainability Story? New tool improves fishing efficiency and sustainability Our Focus This Week on A Range of ESG Topics & Issues – More Things For You to Think About 10 massive corporations going big on solar power The Threat Is In The Carbon: Companies Are Undervaluing Climate-Related Risk U.S. oil output jumps to record 10.47 million barrels per day in March: EIA Headlines for You From the Corporate Sector - Both Positive & Negative New Starbucks training manual promotes 'becoming color brave,' speaking to customers 'one human to one human' Harley-Davidson workers say plant closure after tax cut is like a bad dream US forces Germany's Bayer to shed $9 billion in ag business in biggest ever antitrust sell-off Michelin Announces Two Huge Sustainability Goals 6 Sustainability Lessons From This Eco-Chic Hotel Brand You Should Know Union Pacific marks sustainability progress Walmart's perk for workers: Go to college for $1 a day News & Opinion: Asset Managers, Sovereign Wealth Funds, Pension Funds Malaysia Asks $8.3 Billion Question on 1MDB. Here's What We Know Connecticut Retirement Plans and Trust Funds – State Treasurer’s Office Source: Ai-cio.com - Pew said eight states—California, Colorado, Connecticut, Hawaii, New Jersey ... which can help ensure retirement plans are affordable and fully funded during various economic scenarios. For example, Pew said its analysis of... The Fed just proposed a plan to make life easier for banks by loosening the 'Volcker Rule'
| *New Clip* Louis Coppola from G&A Institute Goes In Depth on How to Improve ESG Performance
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Using The GRI Sustainability Reporting Framework Improves The Quality of ESG Disclosures - Joint Research From G&A Institute and Baruch College Shows
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Critical ESG Issues Management
