CSR360

Posted: Thursday 21 January 10, 12.43pm GMT

Attended by representatives from a cross-section of economic sectors, the open seminar discussed how Dubai companies were showing leadership in responsible business practices as CSR experts from the Chamber talked about strategies on investor and consumer confidence, business ethics, corporate governance and the Chamber’s CSR programmes and services.

The open forum outlined the Dubai business environment using economic data and highlighted several leading Dubai companies’ efforts in adopting responsible business practices and sharing them with their counterparts in the Emirate.

The seminar also honoured the participating companies in the Dubai Chamber Centre for Responsible Business-launched Engage Dubai programme which marked its first anniversary late last year. This community engagement programme is part of an international network of corporate employee volunteering programmes that brings together businesses and community organizations around Dubai to build strategic partnerships with each other and transfer skills from companies to the wider community.

Dubai Chamber strives to support the business community by raising awareness of CSR and assisting businesses to address the broad environmental, ethical, and social aspects of their everyday business in addition to profit making.

He informed that in its one year of operation the ENGAGE Dubai programme has mobilized over 150 corporate volunteer hours from employees of several leading companies from different sectors.

Buamim further stressed that the global financial crisis has had an impact on how companies do business today. However, in every crisis lies an opportunity. He said that 2009 was the year that saw many companies take stock and re-assess their strategies to go back to the basics and focus on what really matters – adding value to their stakeholders; clients, staff, and the communities in which they operate in thus demonstrating good corporate social responsibility.

The seminar also focused on the status of the corporate employee volunteering programmes, that bring together businesses and community organizations around Dubai to increase the quality and amount of community engagement in light of the Annual CSR Survey 2009 — the State of Corporate Social Responsibility in Dubai which revealed that there is an increase in businesses’ awareness of CSR which now stands at 73% with an increase of 14% compared to 2008.

However, as in 2008, CSR in 2009 continues to be less formally managed and less integrated into business strategy; 70% of business leaders said that CSR is important to their company, but not central to their business strategy; 10% dedicated budget for CSR activities; 6% dedicated department/officer to deal with CSR and 7% report on CSR achievements.

Another survey on Consumers’ Social Responsibility, Sustainable Consumption, and Green Shopping in the UAE revealed that consumer awareness of CSR continues to grow in the country as they expect strong involvement and contribution to society by businesses; improved health and safety conditions, fair employee wages and benefits, and environmental protection which are their main concerns, while community-related issues are given less importance.

The survey findings also showed that consumers are more likely to prefer social and environmental attributes than low price or high quality when making purchase decisions; 65% would buy products from a company that protects the natural environment and 49% would reward a company for charitable efforts. The survey further revealed that 85% consumers in the UAE prefer to buy green, 25% shop at green stores and 30% buy organic foods.

Dr Belaid Rettab, Senior Director, Economic Research and Sustainable Business Development Sector, Dubai Chamber, who moderated the discussion, stated that the Center for Responsible Business regularly organizes seminars and workshops that raise awareness on corporate social responsibility and helps companies increase their performance, competitiveness and reputation in the Emirate.