The Embassy of the United Arab Emirates (UAE) has set out to actively encourage Korean SMEs, non-profit organizations and high schools to apply for the Zayed Sustainability Prize with a total prize money of $3 million.
The Zayed Sustainability Award, launched in 2008, was inspired by the sustainability and humanitarian legacy of the late Sheikh Zayed bin Sultan Al Nahyan, the first President of the United Arab Emirates. By producing great prize winners, it has positively changed the lives of about 370 million people.
H.E Abdulla Saif Al Nuaimi, Ambassador of the UAE to the Republic of Korea, said, “The Zayed Sustainability Award fulfills the goal of recognizing and rewarding the performance of companies and organizations that drive sustainable solutions that inspire, innovate and inspire. “ and added “Through this award, we look forward to the participation of many future leaders in pursuit of sustainability that can continue to build up the UAE’s heritage, lead environmental and social change around the world, and have a more positive impact.”
The Zayed Sustainability Award, with a total prize pool of $3 million (approximately KRW 3.9 billion), will be divided into five categories: Health, Food, Energy, Water, and Global high schools. Candidates are able to apply online by July 6, 2022. The prize money will be divided into five categories, and the winner will receive a prize of $600,000. However, in the global high school category, one winner will be selected from each of six regions: Americas, Europe and Central Asia, the Middle East and North Africa, Sub-Saharan Africa, South Asia, East Asia and the Pacific, and a maximum of $100,000 will be awarded. These schools should aim to raise funds for initiation and further expansion of projects in the concept phase.
In the Health category, firms and organizations that developed or have sustainable solutions in areas such as Ensuring access to essential and affordable healthcare, Ensuring access to maternal and new-born healthcare, Ending epidemics (AIDS, Malaria, and Tuberculosis etc.), Preventing and treating water-borne/communicable and non-communicable diseases, Reducing illness from pollution, Hazardous chemicals and contamination are selected.
The food sector recognizes organizations that develop or have sustainable solutions in the areas of Decreasing hunger and malnutrition, Increasing agricultural or other food processing productivity, Enhancing sustainable food production.
In the energy sector, organizations that develop or possess sustainable solutions in the areas of Ensuring access to affordable and reliable clean energy, Increasing production of clean energy, Improving energy efficiency, Introducing new forms of clean energy or other technology innovations
In the water resource sector, organizations that develop or possess sustainable solutions in areas such as Ensuring access to safe and affordable drinking water, Ensuring access to sanitation and hygiene, Increasing water use efficiency, Improving water quality.
In the case of the global high school sector, among schools that propose innovative, influential and inspiring projects for 5 sectors in 6 regions around the world, it must be a student-led project that emphasizes the active participation of students in the planning, implementation and monitoring process.
Each category is evaluated based on: innovations, impact, and inspiration. Companies and organizations that innovate are evaluated on whether they innovate new or existing solutions that solve a problem or demand and create a positive impact through value creation. This could be a technology, service, or business model, etc. In the case of companies and organizations that have had an impact, they are evaluated on whether they solve social, economic, technological and environmental problems, improve the quality of human life, and make positive changes. Inspiring companies and organizations are evaluated on the basis of whether they create value that promotes socio-economic development that meets the needs of present and future generations.
Selection goes through a three-step evaluation process. First, an international research and analysis consulting company conducts due diligence independently. The selection committee evaluates applicants who pass the first round, selects candidates for the final round, and finally, the judges select winners in five fields. The winners will be announced at the awards ceremony as part of Abu Dhabi Sustainability Week in 2023. More information is available on the website (http://www.zayedsustainabilityprize.com)
Meanwhile, the 2022 Zayed Sustainability Award increased by 68.5% compared to the previous year, setting a record of 4,000 applications received from 151 countries.