Sustainability Fintech World Wide Generation Expands its G17Eco Platform - Middle East News 247
July 13, 2024
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Sustainability Fintech World Wide Generation Expands its G17Eco Platform

World Wide Generation (WWG), a global leader in sustainability solutions with its G17Eco monitoring and marketplace platform, already live in the UK, Europe, and ASEAN regions, today announced its expansion into the Middle East and North Africa (MENA) region, further solidifying its commitment to empower organisations, cities, and nations to achieve their sustainability goals in the most efficient, effective and transparent way. The G17Eco global platform was dubbed the ‘digital ark’ at COP28 as delegates witnessed new partners onboard G17Eco over the two-week conference.  These partnerships were formed as part of the World Wide Generation movement, a direct and urgent response to the growing need for planet-saving action.

Globally, businesses, governments, civil society and citizens face challenges in understanding true      sustainability and practically applying it to their sphere of influence. The identified issues include difficulties in defining and aligning to a common purpose, a lack of end-to-end execution for sustainability processes, limited access to trusted data, and the inability to measure impact effectively. These obstacles highlight the urgent need for a cohesive and integrated platform to conquer sustainability challenges worldwide, and this is precisely what WWG created over 6 years with over 300 contributors to the G17Eco platform. G17Eco went live officially with the Singapore Exchange in September 2022 and has since attracted some of the world’s largest corporates and partners such as Nestle, Kyndryl (formerly IBM) and World Wide Technology, as well as proving G17Eco can also support SMEs, which account for most of the global economy.

Expanding Reach and Impact in MENA

WWG’s expansion into MENA is fuelled by a growing demand for comprehensive and effective sustainability reporting and data solutions in the region. The company is partnering with leading organisations to offer its G17Eco platform,  often described as the “Google/Apple app store for interoperable sustainability apps.”  This platform enables organisations and nations to map, monitor, measure, manage, and market their sustainability performance from end-to-end. This platform also enables G17Eco members to connect with sustainable finance and solutions to help improve and scale their sustainability efforts. G17Eco uses advanced data bot, blockchain and AI technologies to automate data collection, processing, and dissemination between organisations and nations and aggregates this information nationally and regionally, monitoring and measuring the progress of how each nation is closing the deficit of each SDG (including climate targets). The platform is compatible with various sectors, systems, and applications, offering trusted, standardised and real-time data for

influential decision-making. It allows stakeholders to identify where to invest, divest, manage risks, and develop sustainable solutions effectively at scale. WWG advocates a transition from measuring success from traditional purely economic GDP-centric metrics to a more holistic approach focused on measuring SDG contribution and integrated Social, Environmental, and Economic (SEE) problem solving, reporting and measurement of impact. This paradigm shift recognises the interconnectedness of sustainability and its critical role in ensuring a purpose-driven, protected and prosperous future for all.

COP28 UAE

In the lead-up to COP28, WWG was invited by the UAE government to present the G17Eco platform to key stakeholders in the MENA region. WWG strives to align G17Eco with the core message of COP28, “Unite, Act, Deliver”, ensuring that any collaborations would genuinely contribute to the execution and delivery of the conference’s outcomes and learnings.

  • e& enterprise and WWG join forces to create the world’s largest sustainability data, finance and solutions exchange platform: WWG has signed a MoU with e& enterprise, a subsidiary of global technology group e&. This new collaboration will strengthen e& enterprise’s ‘sustainability as a service’, which will be powered by G17Eco to offer all e& customers the next generation of sustainable services.  Apps and services such as Company Tracker, Emissions Tracker, Assurance Tracker, Portfolio Tracker, City Tracker and Nation Tracker, will be bundled with e&’s current products as well as IOT and AI sustainability solutions (solar PV, MEP retrofits, smart building, smart lighting, smart home, fleet management, connected worker, smart office, smart parking, environmental sensing, water quality, waste management, electric car charging). All G17Eco members will also gain access to a rewards marketplace that will enable them to benefit from a lower cost of capital, cheaper insurance premiums and greater visibility and access, international liquidity, and market share by proving their sustainability credentials. e& already has a significant presence in more than 20 countries, with over 167 million users.  They recently became the largest shareholder in Vodafone and acquired a controlling stake in PPF Telecom’s assets in Bulgaria, Hungary, Serbia, and Slovakia. e& enterprise also has 15 banks already participating in its blockchain-based trade finance platform, UTC, and owns a peer-to-peer lending platform, Beehive, which it aims to integrate with G17Eco. The MENA regional platform created by WWG and e&, will become interoperable across Europe, the UK and ASEAN, making it a true exchange of sustainability data, finance and solutions to accelerate the financing and delivery of the SDGs.
  • World Wide Technology (WWT) Presents Award to WWG and becomes global Accelerator Partner: World Wide Technology (WWT), a global systems integrator and cutting edge solutions provider, is the largest privately held US HQ’d technology company, with a market cap of over USD $24+bn, recently opened its Middle East HQ in Abu Dhabi and recognised WWG as its “Most Breakthrough Sustainability Platform Partner 2023”. An MOU was signed where WWT will provide its support to be the accelerator for the strategic partnership signed between WWG and e&, and will leverage its world-renowned Advanced Technology Centre (ATC) and AI R&D and accelerator hubs to model and integrate organisations and nations into the G17Eco marketplace and e& product portfolio.
  • Partnership with Rawabi Holding, Magnom Properties and Forbes International Towers selects G17Eco as monitoring platform: Saudi Arabia’s Rawabi Holding, and Egypt’s Magnom Properties signed an MOU selecting the G17Eco platform for sustainability reporting across both businesses’ entire operations. G17Eco was also selected to provide the mapping, monitoring, measuring, managing and marketing of the sustainability performance of Rawabi and Magnom’s flagship and most sustainable real-estate project The Forbes International Tower, designed to be a futuristic, lifecycle net-negative carbon building, and the first of its type in the world, starting in Egypt and scaling across the GCC region.
  • The SEE (Social, Economic, and Environmental) Fund housed and monitored by G17Eco: WWG signed an MOU with Fusang Digital Exchange, next gen family offices from the Association of Family Offices Asia, BGI Capital, Upperhouse Capital, Dunhill Family Office Ventures, where the G17Eco platform will be used to create and monitor the world’s first circular, tokenised and full transparent Digital Sustainable Impact Fund. This fund will invest in innovative solutions that drive positive SEE change. This consortium of industry giants, spanning Europe, Asia, the Middle East, Caribbean, and Africa, will introduce a digital, multi-asset class, sustainable impact fund which intends to raise £1bn by 2030. All parties have also pledged to commit a 10% revenue share from all its earnings back into the SEE fund, with an aim to make the fund the world’s largest circular impact fund for the SDGs.
  • UN and World Bank Green Digital Action Initiative: WWG was invited to be a partner with the UN’s ITU (International Telecommunications Union) and World Bank Green Digital Action plan which united over 40 major telcos and standards organisations including the ISO, GSMA, e&, Nokia, Orange, and Telefonica to pledge its environmental commitments and reporting against those commitments and transition plans on a standardised and interoperable platform. WWG will be working with the consortium.

Manjula Lee, CEO of World Wide Generation, stated, “This was a significant COP for us, and the UAE as the host provided an ideal platform for our entry to the MENA region, alongside strong regional partners. WWG is committed to transforming talk into action. Particularly in the context of COP28, it was crucial to ensure that our announcements were outcomes and impact-aligned, quantifiable and demonstratable.  We are not merely envisioning this for the future; the G17Eco platform is already live and operational, and now together with our many partners, in alignment with SDG 17 ‘partnership for the goals’, we stand prepared to onboard nations and organisations now at scale. Our expansion into MENA and our collaboration with regional industry leaders signify their dedication to sustainable transformation. It particularly underlines the UAE’s commitment to bridge connections with other nations to expedite the transition to a sustainable future.”

    Middle East News 247

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