Arab organisations to boost CSR in region
The Hawkamah Institute for Corporate Governance and the Arabia CSR Network have teamed up together to undertake joint projects in the region.
Under the plans, the bodies will work on "building capacity for and raising awareness of sound environmental, social and corporate governance".
A memorandum of understanding (MoU) has been signed by the organisations relating to corporate social responsibility (CSR) to improve the sustainability of business practices within the Gulf Cooperation Council and the United Arab Emirates (UAE).
The MoU will facilitate a range of joint initiatives including roundtables, workshops, award schemes, publications, conferences and seminars, all involving the sharing of best practice.
Executive director of Hawkamah Dr Nasser Al Saidi remarked: "In response to changing economic conditions and to the practices that played a role in sparking the current financial crisis, institutional investors are increasingly focusing on long-term risks in their investments."
Launched in 2004, the Arabia CSR Network is an offshoot of the Emirates Environmental Group which works on promoting sustainable development within the UAE's corporate sector and the Middle East as a whole.