Taqa CSR - a work in progress

One firm currently developing its own CSR programme is the Abu Dhabi National Energy Company (also known as Taqa). Established in 2005, Taqa is a global energy company with assets worth $21bn and investments in North America, Europe, India, Africa, and the Middle East.

The company's objective with regard to CSR is to 'implement programmes of ethical, environmental, and social benefit to all of the company's stakeholders, which include employees, shareholders, regulators, bondholders, the environment and the community', according to Shayma Majed, Taqa's manager for CSR, Diversity, and Inclusion.

Multiple contributors

Majed said she is drafting the policy in consultation with external experts and internal departments spread across multiple geographies. 'A company pursues CSR at its peril if it has not consulted widely with external stakeholders such as NGOs, analysts, academics and of course its customers and partners,' she noted. 'We need to check periodically that what we have assumed internally will stand up externally.'

Among the external organisations that will audit Taqa's CSR efforts are the Ethical Trading Initiative, Forum for The Future, and Business In The Community, all of which 'regularly have first hand experiences with Taqa's actions and outputs and challenge us to continually improve our performance,' Majed said.

The company has developed a Code of Business Ethics that makes clear its stance on appropriate professional conduct in the office, in the field, and when representing the company. The code is rooted in an absolute compliance with local laws, an acceptance of transparent behavior at all times, and a respect for others' cultures.

Diversity and inclusion is also an important part of Taqa's CSR policy, as the company has employees from 38 countries. 'Taqa recognises that our workforce consists of a diverse population of people, and it believes that harnessing these differences helps to create a productive environment where people feel valued, where they feel that their talents are fully utilised, and in which the organisational goals are being met.'

Focus on environment

Taqa takes its stewardship of the environment very seriously. The firm was the first GCC company to be invited to join the 3C initiative, which is an opinion group of business leaders aiming to set a goal for global limits to the maximum temperature increase and defining emissions reduction targets, paving the way for a low-emitting society.

To help demonstrate its commitment to the environment, TAQA offers a hybrid car buying program for its employees that Majed says is one of the 'best in the world.' 'Taqa believes changing individual behaviour is the first step towards changing society's and we have begun this journey together with our employees,' she noted.

See also:
BP - Energy into the Future
Standard Chartered going green