In the GCC countries, the adoption of ESG is gaining significant momentum as governments and private corporations try to diversify their economies and lessen the dependency on fossil fuels. Not only in terms of fuel use, there are various other sectors where initiatives are being taken to promote environmental sustainability. Various circular economy strategies are being executed by governments and businesses to give back to the environment rightfully. The market is gaining momentum now. Sustainability initiatives have been part and parcel of various kinds of corporations that have been slowly driving the industry forward. However, the concept of formal ESG is new at the face of the business ecosystem because of its comprehensive and concerted nature.
Availing consultancy services regarding ESG and related sustainability projects comes with challenges. There are indeed many providers available in this sector but many of them lack proper experience in the industry and are unable to prosper despite being equipped with the latest technologies. Dr Karamo NM Sonko, Founder & CEO, Jula Consultancy, is a one-of-a-kind visionary leader who has been a part of this industry for about three decades now. He understands the market dynamics accurately and is equipped with the latest technologies to help clients achieve their sustainability goals.
Dr Sonko is a true visionary because, over a long time, he has explored opportunities in various industries and achieved success in his endeavors. He started with teaching in business schools in the US, before returning to Africa to work for a number of international organizations, including the United Nations and the Organization for African Unity. Then he entered into a number of African businesses as a consultant, before ending up in the field of mining. He gradually gained significant trust and recognition in the market as a very knowledgeable and able services provider. He was able to come up with new sustainable approaches to business and development for different sectors that added immense value to the industries as a whole. “To date, I have participated in only successful gold mining projects, which have attracted global attention, and in which I have been an
advocate of the implementation of sustainable mining practices. After mining, I explored the sector of Islamic finance, co-authoring two books on the subject, and having clients and associates in several countries today whom we work with. I have been working on informal ESG for a very long time but, currently, my company is equipped to provide formal comprehensive or holistic ESG services that aim to transform industries and the lives associated with them”, mentioned Dr Sonko.
Focus on Holistic Development
Dr Sonko is a philanthropist and it always shows in his attitude towards business. Not everything that his company does is for profit. It is his family-run company, and his daughter Mariama is running operations along with him. They also run a foundation that executes projects across African countries to make human lives better. To give an example, the foundation has dug wells and empowered Persons of Special Needs across The Gambia and these are examples of two of the most successful initiatives taken by him to make human lives better. Even in business, he prioritizes friendship over everything else. In all the countries his company operates, he maintains good relationships. Their business is growing because of this continued good will created through long-lasting friendships with people from different countries.
Dr Sonko is a true visionary because, over a long time, he has explored opportunities in various industries, with new ideas and achieved success in his endeavors. He started with teaching in American business schools and is now most active in the field of mining, ICT and Islamic finance. He has gradually gained significant trust and recognition in the world as a very knowledgeable and able services provider
Dr Sonko is always one step ahead in innovation. He, along with his daughter, has written the first book ever on formal Comprehensive or Holistic ESG titled “Demystifying Environmental, Social and Governance (ESG)” published by Palgrave Macmillan, that was very well received by industries. The book launch was done in Burj Khalifa, Dubai, during COP28, and attracted many esteemed personalities from across nations and all copies of the book presented were sold. Moving along with the latest technology developments, he has explored the domain of IT and developed a Strategic Management Sustainability Tool that helps organizations detect all their major challenges (including ESG-related problems) and come to solutions. “I have also worked with one of my sons to develop a Student Housing App in Canada, called RoomTree, that became a runner-up in a prestigious entrepreneurial competition in the country. Canada is suffering from challenges in student housing with the number of students growing in the country. Through my son, we are now working with a Canadian housing startup to develop an app for affordable and sustainable accommodation for all the students needing it in the country”, stated Dr Sonko.
Future Endeavors
Dr Sonko started Jula Consultancy 11 years ago and the company has gained much appreciation and recognition in the world for excellence in different sectors. He is focusing on ESG consultancy, ICT and sustainable mining services. His latest book project is on AI, co-authoring it with experts from different countries. He wants to carry on the good work in the times to come. He believes that there is a growing opportunity for ESG services not only in the African and GCC countries but across the world. “I want to keep working proactively and exploring new opportunities in the ESG segment and build long-lasting relations with entities from all across the world”, concluded Dr Sonko.
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