Key players from across the luxury sectors, including yachting, joined forces at an event held recently in Monaco, to spearhead an independent initiative that aims to provide sustainable solutions for architects, designers, and marine builders.

An agreement to establish BioSoul, with a global headquarters in Abu Dhabi, was signed with the Abu Dhabi Investment Office (ADIO) during the prestigious Monaco Yacht Show 2024 (September 25-28), between Khalifa Al Mahmoud, Acting Director of Investor Attraction at ADIO, and Sarah Colbon, Co-founder of BioSoul.

The agreement will set a path for the Emirates to channel its leadership in sustainability towards innovative marine solutions and technologies, a statement said.

The country hosts over 50 shipyards, as well as the largest number of superyachts in the region and year-round events and boat shows. Beyond yachting, the marine sector as a whole contributes over AED 129 billion to the national GDP, supported by its strategic location in the Arabian Gulf.

With the industry's growth, there has been a global shift in focus, driven by a younger, environmentally conscious consumer base demanding sustainable products across the yachting supply chain.

However, sourcing sustainable ship-building materials remains complex and resource-intensive. Currently, fewer than 5% of the 4,500 superyachts in operation worldwide incorporate significant sustainability measures, and under 10% utilise recyclable materials in their design.

Al Mahmoud, Acting Director of Investor Attraction at ADIO, said: “BioSoul’s decision to establish its global headquarters in our Emirate is a testament to our shared commitment to driving the green transformation.

“This partnership marks a significant step in fuelling long-term growth, not just in the marine industry, but across diverse sectors, reinforcing Abu Dhabi’s position as a global leader in sustainable solutions.”

Colbon said: “We are committed to making impactful connections to drive sustainable change. As a global hub for innovation, Abu Dhabi’s marine sector provides an ideal platform for BioSoul to help further the circular economy in alignment with the UAE’s Green Agenda – 2030.

“Our vision extends beyond the marine industry, and with ADIO’s support, we can realise our commitment to building a better world—consciously and collaboratively.” – TradeArabia News Service