Dow ranks one of America's '100 Best Corporate Citizens'
- United Arab Emirates: Wednesday, March 26 - 2008 at 15:50
- PRESS RELEASE
Corporate Responsibility Officer (CRO) Magazine has named The Dow Chemical Company one of America's "100 Best Corporate Citizens" of 2008.
"This is a remarkable achievement," said Andrew Liveris, Dow's chairman and chief executive officer. "To be recognized as one of the leading corporate citizens in the United States is a tribute to every one of our 46,000 people - our Human Element - and speaks volumes to the progress we have made towards our vision of being the largest, most profitable, most respected chemical company in the world".
To compile the list, CRO commissioned IW Financial, the USA's leading consultancy in environment, social and governance ratings, to assess more than 1,000 U.S.-headquartered companies against eight dimensions of corporate citizenship.
For each of the categories - climate change, employee relations, environment, financial, governance, human rights, lobbying and philanthropy - companies were evaluated using a variety of sources and assigned a score to reflect their performance. The final rankings were determined using a weighted average of the eight categories.
This recognition follows several other accolades received by Dow that reflect its commitment to corporate citizenship around the globe, including:
• In February 2008, Dow was presented an Emirates Environmental Group (EEG) annual award, which recognized Dow's commitment to protecting the environment. In 2007, Dow was a platinum sponsor of the NGO's initiatives. EEG was selected as a partner for community outreach as their objectives are directly aligned to Dow's 2015 Sustainability Goals. Dow will continue its partnership with EEG in 2008, through financial support, which will be focused to achieve a society that is aware and conscious of its duties towards the environment.
• Dow was recently recognized as one of the most socially responsible global companies in China, or "the multinational company with the most caring Chinese heart," by the Foreign Investment in China Magazine under the Ministry of Commerce.
• In September 2007, Dow was once again rated one of the top performers in the global chemical industry by the 2007 Dow Jones Sustainability World Index (DJSI World). Dow's 2015 Sustainability Goals were deemed a key factor in this recognition.
• In December 2007, the Whitehead School of Diplomacy and International Relations - a school of Seton Hall University - awarded Andrew Liveris and the people of Dow its annual global citizenship award, citing Dow's leadership in the area of climate change and sustainable development.
• During 2007, Dow once again received the highest rating possible for its standards of corporate governance from GovernanceMetrics International (GMI).
In 2008 in the Middle East, Dow will further enhance its commitment to the local communities in which it operates in, through its ongoing support of Young Arab Leaders (YAL). In December 2007, Dow signed an agreement with Young Arab Leaders (YAL) to support the organization's admirable endeavor, The Global Action Program; an initiative designed to encourage dialogue between leaders across the globe. Through its charitable arm, The Dow Chemical Company Foundation, The Dow Chemical Company committed USD 2 million to support various initiatives under the 'Arab and American Dialogue Program' in 2008 and 2009.
Earlier this month, Young Arab Leaders (YAL) together with The Dow Chemical Company through its philanthropic arm, The Dow Chemical Company Foundation, launched the YAL Global Action Institute (GAI) in New York at the YAL Global Action Forum - Arab and American Dialogue.
The Institute has been created to develop and support sustainable initiatives in leadership, entrepreneurship, and education. Moreover, with Dow's support, YAL also launched the Young Arab Leaders Innovation and Entrepreneurship Programme in New York.
The Programme aims to serve as a focal point for young entrepreneurs, facilitating an environment that provides seamless access to knowledge, resources and links with the world of business and business know-how.
YAL is an independent not-for-profit organization headquartered in Dubai, UAE with chapters across the Arab World. YAL has a network of prominent Arab men and women eager to trigger positive change in the region and across the world.
Their core values are: excellence, meritocracy, accountability, entrepreneurship, tolerance and candor. The organization aims to bridge the awareness gap between the region and the rest of the world.
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