Economics and Sustainability

Economics and Sustainability

We help policymakers and business leaders address the most pressing issues facing our region

We are the largest dedicated economics practice in the region, delivering data-driven insights and rigorous economic analyses that underpin strategy formulation and policy making.
 

Our team of economics and sustainability experts help policymakers and business leaders address some of the​ most pressing issues facing our region today, including economic and fiscal diversification, environmental​ change and the energy transition, and social development.​

We help policymakers and businesses address some of their most critical policy and strategic questions

The fiscal imperative

  • How to improve the impact of public spending?​

  • How to maintain sustainable levels of debt to fund public investments?​

  • What should be the priorities in the medium-term fiscal plan?​

  • How to diversify fiscal revenue sources?​

  • What would be the effects of introducing a new tax or service fee?

The economic imperative

  • How to improve national competitiveness?​

  • How to design an economic strategy for the economy?​

  • How to set targets for economic development and policy initiatives?​

  • What does a systematic approach to policy making look like?​

  • How can a government entity tell if its policy has had the desired impacts?​

Understand your interface with nature

The environmental imperative

  • What is a company’s carbon footprint and how does this compare to its peers? ​

  • How can a utility company integrate sustainability as a core element of its business agenda? ​

  • How can government incentivise investment in renewable energy?​

  • How can environmental considerations be built into the public financial management system? ​

The social imperative

  • How can we create employment opportunities and improve quality of life?​

  • What is the economic, social and environment impact of giga projects?​

  • What are the impacts of labour market / localisation policies?​

  • What are the megatrends and developments reshaping the socio-economic landscape?​

  • How can governments prioritise public investments in line with society’s needs?​

Develop a nature strategy

Our modelling and analytics capabilities is deep

Using economic analysis to guide strategic decisions, simulating market dynamics and policy impacts to enhance understanding of complex economic interactions​

  • Computable General Equilibrium (CGE) Models​
  • Social Accounting Matrix (SAM) Models​
  • Partial Equilibrium Models​
  • Macroeconometric Models​

Drawing actionable insight from data through descriptive analytics and visualisation tools and decision support through business & financial modelling​

  • Descriptive Analytics​
  • Diagnostic Analytics
  • Data Visualisation / Dashboard Development​
  • Decision Analytics / Modelling​

Using statistical modelling & artificial intelligence techniques to create predictive (forecast) / prescriptive (recommendation) models to augment human decisions​

  • Predictive Analytics​
  • Prescriptive Analytics
  • Simulation
  • Generative AI

The process of designing and implementing a coherent and effective framework for collecting, storing, sharing and using data to achieve business goals and create value​

  • Data Strategy​
  • Data Modelling
  • Data Integration
  • Data Architecture

The economic imperative
The economic imperative

The reliance on a limited group of economic sectors, paired with rapid technological and demographic change, necessitate a move towards a knowledge-based economy.

The social imperative

The need for employment opportunities, an increased quality of life, and societal participation require new ways of thinking.

The environmental imperative

Environmental change will have a profound impact on society, government and business. Action needs to be undertaken to manage this risk and turn it into an opportunity for future growth.

The fiscal imperative

Falling oil prices, production cuts and a limited taxable base have implications for Government budgets across the region. A fresh look at revenue, cost and funding will help keep public finances on track.

We help business and government leaders to navigate some of their most critical questions:

opportunities establishing water

How can we help you?

Our team of economists and sustainability experts champion leading practices and bring deep expertise across four broad areas. Click on the proposition links below to learn more about our areas of expertise:

 

We can support policymakers and businesses make better spending decisions

  1. Appraisal, monitoring and evaluation

  2. Impact assessment frameworks and tools

  3. Impact investing

We can help bring efficiency and financial sustainability to the management of public resources 

  1. Fiscal frameworks and public finance reforms

  2. Revenue policies and strategies

  3. Expenditure policies

  4. Managing public investment

  5. Financing

  6. Green public financial management

 We set the strategic foundations for sustainable long-term economic growth

  1. Economic development strategies

  2. Health economics

  3. Labour and human capital economics

  4. Regulatory economics

 

We help you throughout your sustainability strategic planning and execution process, to capitalise on ESG opportunities and manage ESG risks

  1. Net zero baselining, strategy and transformation

  2. Corporate sustainability and ESG

  3. Cities & infrastructure

Client case studies

Designing a national public investment management framework​

Context:

PwC was engaged to design an overall framework for public investment management (PIM) for a GCC country, as well as a strategy for implementation. The framework aims to streamline how investment decisions are made and executed across public spending entities.

Our Approach: 

  • Conducted a comprehensive assessment of PIM practices globally across 11 jurisdictions

  • Developed 14 design options based on six legal framework design principles, resulting in preliminary recommendations for the legislation underpinning the future PIM framework

  • Designed a high-level blueprint for managing PIM across government entities, including identifying investments subject to the Framework, and designing processes, governance, toolkits, and enablers for PIM to be effectively implemented

  • Developed a roadmap for the PIM toolkit, including its guidance, tools, and templates, and a multi-year transformation strategy for the framework's rollout

Outcomes and Impact: 

As a result of our support, the client was equipped with the design, strategy, knowledge and tools to launch the country-wide PIM transformation journey and is expected to drive significant improvements in public expenditure efficiency.

Developing a net zero strategy and action plan​

Context:

PwC was engaged by a GCC sovereign wealth fund to support the implementation of a sustainability strategy and to develop a Net Zero Action Plan (NZAP).

Our Approach: 

  • Reviewed and refined the client’s sustainability strategy ensuring that it is competitive against regional and global peers

  • Developed an in-depth Net Zero Action Plan (NZAP) covering the client’s operations, supply chain and customers

  • Worked with the client’s asset management business to develop and deliver sustainability initiatives, design KPIs and cascaded these to individual teams

  • Supported teams to change their practices to meet targets

  • Identified enhancements to streamline the collection of sustainability data

Outcomes and Impact: 

As a result of our support, the client successfully translated the sustainability strategy into actionable plans and initiatives for its primary operations. These initiatives were also translated into clear guidelines for its asset management business to guide investment allocation decisions.

Socio-economic impact assessment of culture & entertainment assets

Context:

PwC carried out a socio-economic impact assessment of culture and entertainment assets across three phases of the asset life cycle in a major future planned city.

Our Approach: 

  • Conducted a socio-economic impact assessment of 11 culture and entertainment assets expected to be built in the new city  

  • The impacts were assessed across three phases of the asset life cycle (construction, operations and enabled), which allowed the assessment to holistically cover impacts generated across different areas such as construction activities, operational activities, and off-site expenditure by visitors who come to visit these assets.

  • The assessment also covered both the upstream and downstream impacts across the value chain. 

Outcomes and Impact: 

As a result of our impact assessment, the client was able to assess and understand the holistic GDP and employment impacts of culture and entertainment assets. This supports evidence-based decision making to determine investments in specific culture and entertainment assets, which may not happen purely on the financial case, and establish clear targets and objectives for future achievements in these sectors in the city.

Setup and activation of a policy advisory and advocacy unit

Context:

PwC was engaged by a centre of government entity in the GCC to develop its core policy function, which sets the standard for policy appraisal, and advocacy within the government body as well as for other government entities. 

Our Approach: 

  • Developed a standardised framework for advocacy across government, with supporting toolbox, including manual, templates, and supporting tools. 

  • Designed the organisational set-up of the new policy unit, including defining its strategy and operating model

  • Implemented capability building through on-the-job learning, formal training, and onboarding of new staff.

Outcomes and Impact: 

As a result of our support, the client has a clear policy appraisal and advocacy framework that is being rolled-out within the entity and across government departments, which has significantly streamlined the policy design and appraisal process across government.

Are you ready for the ESG revolution?

Societal need and business opportunity are coming together to transform the way companies approach strategy, drive performance, and report results. The management implications are significant - as is the potential for bold leaders to reinvent and inspire their organisations.

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Contact us

Richard Boxshall

Richard Boxshall

Global Economics Leader and Middle East Chief Economist, PwC Middle East

Tel: +971 (0)4 304 3100

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Jing Teow

Jing Teow

Director | Economic Policy and Strategy, PwC Middle East

Tel: +971 (0)56 247 6819

Salah  Salah

Salah Salah

Director | Public Finance and Fiscal Policy, PwC Middle East

Tel: +971 (0)54 445 5881

Umair Ullah

Umair Ullah

Director | Climate and Sustainability, PwC Middle East

Tel: +971 (0)50 126 4952

Sebastian  Turner

Sebastian Turner

Director | Impact Assessment and Economic Modelling, PwC Middle East

Tel: +966 (0)56 592 0691

James Walton

James Walton

Director | Economic Policy and Strategy, PwC Middle East

Tel: +971 54 793 4200

Benjamin Copley

Benjamin Copley

Director | Public Finance and Fiscal Policy, PwC Middle East

Tel: +971 (0)50 230 0965

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