CSR not just a charity case

Philanthropy is only one aspect of CSR and corporate executives need to adopt a comprehensive strategy and communicate with their stakeholders effectively, if they are to reap the rewards and compete with the effects of globalisation.

Kosta Petrov, Conference Manager, 4th CSR Summit, commented,

'These are two key issues. Comprehensive strategies need to be formed, that embrace all facets of CSR, it is not just about donating to charity. Also transparent CSR reporting needs to be conveyed to the stakeholders and culturally there is a great deal of reluctance to do that. Even worse for those fuelled by short-term profit and or generating superficial PR, any claims will be cynically rejected by enlightened stakeholders.'

The Middle East region is renowned for its philanthropy. Zakat (giving money to the less fortunate in society) is one of the five pillars of Islam and engrained in Muslim society, but CSR has so much more to offer. Globally, CSR is aligned and integrated with business strategy and with regional bourses losing US$ 460 billion in market capitalisation last year the corporate Middle East needs to employ these principles. Stakeholders now want to be associated with businesses that support a whole range of social or environmental benefits, which is a challenge today for all corporate cultures to absorb.

Good corporate governance and transparency have been well documented, but not only do they apply to financial results and key elements of an organisation's operation, international trends are now leaning towards accurate CSR reporting.
More than half of the world's 250 largest companies now issue separate CSR reports and over two thirds include some form of CSR reporting. The importance of CSR has been heightened still further by the introduction of a number of sustainability indexes such as the Dow Jones Sustainability Index (DJS) and the FTSE4 Good Index.

This year's summit features 41 speakers from 17 different countries, with the programme split into four main categories mirroring the key principles of CSR; Promoting CSR In The workplace; Positioning CSR In The Market; Contributing To The Community and Emphasising Global Warming And Climate Change And Their Impact On Business.

An impressive line-up of international and regional expert speakers has been assembled which include amongst others, Anna E. Roosevelt, VP Global Corporate Citizenship, The Boeing Company, USA; Jan Buckingham, Director Global Values, The Body Shop, UK; Ian Kiernan, Chairman And Founder, Clean Up Austrailia And Clean Up The World, Australia; Matthias Gelber, Board Member, International Network Of Environmental Management, Malaysia;

Three interactive post-summit workshops have also been included in the five-day programme, which includes a dedicated and in-depth seminar on effective CSR reporting.

In association with Shell Middle East, the event has also attracted premium sponsors with Abu Dhabi-based Al Qudra Holding Company and internationally renowned Dow Chemical Company, confirming their support.