Why is it important for Estidama to consider government entities as stakeholders?

Considering government entities as stakeholders in Estidama projects is crucial because they play a vital role in regulating these initiatives and ensuring compliance with applicable laws and regulations. Their involvement is key to maintaining standards and safeguarding public interests, as they oversee the environmental, social, and economic aspects of development.

Government entities have the authority to enforce legal requirements and sustainability benchmarks that projects must adhere to, fostering a built environment that aligns with national goals for sustainable development. By prioritizing compliance, government entities help mitigate risks associated with non-conformance, which can lead to project delays, financial penalties, and reputational damage. This regulatory oversight ultimately supports the integrity of the Estidama framework, which aims to promote a sustainable and environmentally responsible approach to growth.

While other stakeholders, such as investors and community members, are important and contribute to the project’s success, government entities hold unique power in determining the legal and regulatory boundaries within which a project must operate.