It was awarded to TRSDC owing to its approach to social and environmental sustainability and the Red Sea Project’s international recognition as a green project, the company said.It is the first Riyal-denominated credit facility to receive Green Financing accreditation.“The scale of this project is unmatched anywhere in the world and we are setting new standards in regenerative tourism at every turn,” said TRSDC chief executive John Pagano, adding the developer aims to achieve a 30% net conservation benefit by 2040.
This Green Finance classification is the latest proof that we are setting new standards in ecotourism and showing the industry that things can be done in a different way both here in the Kingdom, and globally,” said Pagano.TRSDC said its Red Sea Project is on track to welcome its first guests by the end of 2022, when the international airport and the first hotels will open.