Sustainability is continuously gaining momentum in the region and there is no doubt that when looking at the present state of sustainability and CSR in the Middle East, the United Arab Emirates (UAE) stands out as one of the more active countries. The UAE has been trying to define CSR in its own context, and in many ways, the Emirates is ahead of other countries in the Arab world due to adopting a CSR approach that is regional, organized, and driven at the policy level. There are also strong initiatives and active ambitions for a strong governmental buy-in to CSR, sustainable development, and environmental responsibility. Indeed, governments have begun to realize that CSR can significantly and positively contribute to enhancing competitiveness, attracting investment, and maximizing the value of wealth creation to their country’s citizenry.
For the UAE, good corporate governance is a key pillar underpinning UAE’s reputation as a trusted financial and business hub and the country offers tremendous potential for sustainable development and CSR disclosure. The UAE has also taken on a leadership role in adopting policies and initiative that spur sustainable development, thus placing the country as one of the leading GCC countries leading the transition to a green economy and is the first country to adopt long-term and strategic green economy initiative. Given the Emirates’ ambition in innovating solutions in energy and water efficiency, building standards and sustainable cities, the country naturally found itself embarking on a national strategy of pursuing a Green Economy for Sustainable Development.
In the effort to promote CSR in the UAE, Responsible Business highlights a select few UAE-based companies that have taken positive steps in the business community by contributing to the country’s growth, both in socio-economical and environmental terms. These companies represent only a small segment of many other businesses we will highlight in future and upcoming editions.
Source: Responsible Business Magazine