Crescent Enterprises provides a blueprint for navigating these complexities, demonstrating that financial growth and positive societal impact can coexist through innovative sustainability strategies.
Crescent Enterprises has embedded Environmental, Social, and Governance (ESG) principles into its business model to drive sustainable growth. Since 2013, the company has aligned its efforts with the United Nations Sustainable Development Goals (SDGs), ensuring its operations and investments contribute positively to society and the environment.
One standout initiative is ION, a sustainable mobility company incubated by CE-Creates in partnership with BEEAH Group. ION plans to install over 1,800 electric vehicle (EV) charging stations across the UAE over the next decade, starting in July 2024. This project is expected to significantly reduce carbon emissions and promote cleaner transportation, showcasing a practical application of green mobility solutions.
CE-Operates, the operating business platform of Crescent Enterprises, leverages innovative technologies and sustainable practices to enhance efficiency and transparency in global supply chains. For example, Gulftainer, a port container management subsidiary, optimises operations through advanced logistics solutions at the Khorfakkan Container Terminal, improving regional connectivity and logistics efficiency. Momentum Logistics, another subsidiary, has introduced electric and hybrid vehicles into its fleet, significantly reducing greenhouse gas emissions.
Crescent Enterprises' involvement in the World Economic Forum's EDISON Alliance's 1 Billion Lives Challenge highlights its commitment to social stewardship. This initiative aims to connect people to essential services like healthcare, education, and finance through digital platforms, to impact 100,000 youth in the Middle East, North Africa, and South Asia (MENASA) region by 2025.
Public-private-philanthropic partnerships play a crucial role in driving climate action by combining resources, expertise, and innovative solutions. Crescent Enterprises actively engages in these collaborations to maximize its impact. The UAE-hosted COP28 emphasised the importance of philanthropy in addressing climate change. Crescent Enterprises was a strategic partner of the COP28 business and philanthropy climate forum, which mobilised over US$7 billion and launched more than 25 initiatives aimed at advancing net-zero emissions.
"Public-private-philanthropic partnerships are essential in driving forward climate action, combining resources, expertise, and innovative solutions. At Crescent Enterprises, we actively engage in such collaborations to amplify our impact," says Tushar Singhvi, deputy CEO and head of investments. "Last year's UAE-hosted COP28 underscored the crucial role of philanthropy in combating climate change and influencing societies worldwide. Crescent Enterprises was the strategic partner of the COP28 Business and Philanthropy Climate Forum, which brought together over 1,300 business and philanthropy leaders from 80 countries to mobilize the private sector's unique contributions and leverage philanthropic capital as a vital tool in advancing toward net-zero emissions."
Addressing climate change also requires advancements in climate technology. With the agricultural sector contributing nearly one-third of global emissions, CE-Ventures collaborates with global investors to develop sustainable food systems and climate technologies, aiming for substantial environmental and economic benefits.
"Climate technology is another crucial area that we can leverage to advance the net-zero transition. Existing technologies have the potential to mitigate 65 per cent of all emissions. However, this leaves a 35 per cent gap that needs to be addressed by technologies that have yet to achieve commercialisation and scale. With the agricultural sector contributing nearly one-third of global emissions, investing in sustainable food systems enabled by advanced technologies is a top priority for us. CE-Ventures has partnered with leading global investors who are at the forefront of developing sustainable food systems and climate technologies. Together, we aim to derive substantial environmental and economic benefits," Singhvi adds.
Governance is a fundamental component of Crescent Enterprises' strategy, reflecting its commitment to transparency, accountability, and ethical conduct. The company's Corporate Governance Framework aligns with international best practices, enhancing credibility and stakeholder confidence. Crescent Enterprises' compliance program includes regular training on anti-bribery, anti-corruption, and data privacy. As a founding partner of the Pearl Initiative, the company promotes corporate governance standards across the Middle East, elevating accountability and transparency in the region.
Crescent Enterprises' dedication to innovation and technology is evident across its diverse portfolio. CE-Ventures, the corporate venture capital arm, invests in high-growth startups to accelerate groundbreaking solutions. Investments include Kitopi, a cloud kitchen platform optimizing operations with advanced technology, and FreshToHome, an online retailer of fresh, chemical-free produce.
In healthcare, CE-Ventures supports life-science and biotechnology businesses with transformative potential. XCath, for example, develops next-generation steerable robotic microcatheters for endovascular issues and recently performed the world’s first live public telerobotic mechanical thrombectomy. CE-Ventures also invests in Endeavour BioMedicines, specialising in precision medicine, and Freya Biosciences, focusing on women's health through targeted therapies.
These initiatives exemplify how Crescent Enterprises leverages innovation to drive new solutions and shape the future of various industries. By integrating ESG principles, advancing sustainable practices, and fostering innovation, Crescent Enterprises sets a powerful example for businesses striving to achieve sustainable growth and make a positive impact on the world.