CSR Summit opens today

Corporate giants such as Shell, Coca Cola, Microsoft, Boeing, LG Electronics and BASF will impress on local and regional organisations the need to develop sustainable CSR strategies based on international models but regionalised to accommodate the unique culture and business practices of the Middle East.

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

'CSR can be defined in many different ways, but basically it is the process of how organisations manage their business operations ethically and the positive impact that has on the local community and society at large. CSR cannot be bought off the shelf; organisations need to evaluate their corporate values, taking into consideration the social ideals of its geographical sphere of influence. Different regions have different priorities and tenets which should shape the way business entities function.'

Typically corporate organisations in the United States, place an emphasis on a tax-deductible philanthropic model, something which has been copied by many businesses in the Middle East, even though the tax element doesn't enter the equation. In Europe the accent is more on operating in a socially responsible manner, which includes investing and dealing with other like-minded organisations and justifying support for their local communities with a solid business case.

The business case for CSR in the Middle East region is gaining momentum. Islamic finance is setting a good example and in many ways runs in parallel with socially responsible investing. Stakeholders now want to be associated with businesses that support a whole range of social or environmental benefits, which is still a challenge for regional corporate cultures to absorb.

Corporate governance and transparency are two issues that Arab business entities are still struggling to come to terms with and it is through the experience of international experts speaking at the CSR summit, that organiser IIR Middle East, hopes will help to propel these issues to the top of regional boardroom agendas.

'Multi-nationals in the main are so successful because they manage to export their core values whilst incorporating local sentiment and culture, to the benefit of local, regional and global stakeholders,' added Petrov.

This year's event 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; Etienne Butruille Gerente, Manager, KPMG Global Sustainability Service, Spain; Bo Miller, Public Affairs Director, The Dow Chemical Company, UAE; DR. Lothar Holz, Global Head Sustainable Development, Deutsche Bank AG, Germany; Mike Patrick, CSR Director, TNT Express, UK.

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 Microsoft-Gulf, Abu Dhabi-based Al Qudra Holding Company and internationally renowned Dow Chemical Company, confirming their support.