stc Group Drives Sustainable Transformation with 2023 Initiatives
stc Group’s 2023 Sustainability Report highlights its commitment to fostering sustainable growth across digitalization and beyond. The report emphasizes three key pillars: Environmental Performance & Climate, Human Capital Development Through Technological Innovation, and Strong Governance & Ethical Excellence.
As a leading digital enabler, stc Group has unveiled its fifth annual sustainability report, underscoring its dedication to advancing sustainable transformation through environmental, social, and governance (ESG) excellence.
Environmental Performance & Climate
stc Group aims to lead globally in environmental stewardship and has made notable strides toward its goal of achieving net zero emissions by 2050. This commitment, validated by the Science Based Targets Initiative (SBTi), is supported by various environmental programs. Significant initiatives include the installation of seven solar-powered sites at headquarters and the integration of energy efficiency measures for data centers and towers. A solar pilot project was also launched for 18 sites across the Kingdom. Additionally, the Group has implemented AI-driven power-saving technologies, resulting in a 13% reduction in energy consumption across its 4G and 5G networks.
Human Capital Development Through Technological Innovation
stc Group’s sustainability efforts focus on enhancing human capital through technological advancements that bridge societal divides:
- Enriching the Lives of Customers: The trade-in program provides customers with affordable, sustainable devices.
- Empowering stc Group Employees:
- In 2023, women represented 64% of hires in the Group’s Talent Incubation Program and held 18% of board seats, contributing to a 31.6% overall hiring rate for women.
- The Group also increased the employment of individuals with disabilities by 36.8% from 2022. As an equal opportunity employer, stc fosters an inclusive environment that attracts and retains top talent from diverse backgrounds.
- Contributing to Community Development: Investment in communities is a priority, with a focus in 2023 on Education, Environment, Sports & Health, Entrepreneurship, Community Development, and Youth Empowerment. A notable program supported 446 non-profits through the Technical Enablement Program (TEP), enhancing operational efficiency and reducing technical costs across 50 cities, saving these organizations over SAR 56 million.
Strong Governance & Ethical Excellence
stc Group is committed to maintaining the highest standards of ethical governance, emphasizing integrity, transparency, and accountability. In 2023, the Group established a dedicated compliance division reporting to the Chief Regulatory and Compliance Officer. This change ensures rigorous adherence to performance standards and responsible business practices. The expansion of the rawafed program supports the local economy by partnering with 134 local SME suppliers and increasing local content certificates from 75 in 2022 to 582 in 2023—a 676% increase reflecting its positive impact on the local economy.
