APICORP, nogaholding Sign MoU to Collaborate On ESG & Sustainability

APICORP, nogaholding Sign MoU to Collaborate On ESG & Sustainability

The MoU entails sharing best practices on ESG aspects, sustainability initiatives, and green financing

The Oil and Gas Holding Company B.S.C (c) (nogaholding) and the Arab Petroleum Investments Corporation (APICORP) signed an MoU to promote collaboration between the two entities.

Under the MoU, nogaholding will leverage APICORP’s experience as a partner to the Arab energy sector to support the company’s strategic initiatives and projects.

This includes sharing knowledge and best practices on Environment, Social and Governance (ESG) aspects, sustainability initiatives, and green financing. The MoU was signed by APICORP CEO Khalid Ali Al-Ruwaigh and nogaholding Group CEO Mark Thomas.

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The signing event was attended by His Excellency Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment, Special Envoy for Climate Affairs, and nogaholding Board Member and the Deputy Minister of Energy, Chairman of the Board - APICORP, Dr Aabed Al-Saadoun.

H.E. Dr Bin Daina said, “We are delighted to witness this partnership between two entities focusing on the development of the Arab energy sector and exchanging knowledge for the benefit of communities.

"The Kingdom has taken massive strides in the development of the oil and gas sector while responsibly working on meeting the decarbonization mandates as pledged by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain at COP26."

Dr Aabed Al-Saadoun said: “Our mission is to contribute to the development and transformation of the Arab hydrocarbon and energy industries through equity, debt financing and advisory services and provide the Arab energy sector with financial solutions for the energy of tomorrow.

Khalid Ali Al-Ruwaigh said: “Being the region’s only multi-lateral financial institution with established experience in financial services and solutions for sustainable energy, APICORP is delighted to partner with nogaholding and support its commendable strategic initiatives."

Mark Thomas added: We look forward to revitalizing our oil and gas sector while moving towards a more sustainable method of energizing the Kingdom and exploring avenues that lead to more efficient and alternative energy sources.”

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