Business responsibility issue takes precedence

The introduction to the latest issue sums up 2008 as a year of awakening for the Dubai business community as amidst the financial crisis, they woke up to Corporate Social Responsibility (CSR) activities including issues such as sustainability, environmental protection and green buildings etc.

Also, the race to be labelled a 'sustainable' business began at full speed. For example, several Dubai companies appointed new CSR managers, at least five CSR conferences were held and not one, but three new CSR awards were launched in Dubai. These included Dubai Chamber's own CSR category of the Mohammed Bin Rashid Al Maktoum Business Awards, the Arabia CSR Award, and the Middle East Business Awards for CSR. With increased public attention on CSR, companies are asking "What is the right CSR formula for Dubai?"

The Centre expects 2009 to be another vibrant growth year for CSR in Dubai and has a plan that focuses on providing clear value to the Dubai business community through business-focused and rhetoric-free training, seminars, and research as well as providing practical opportunities to demonstrate CSR excellence through CRB programs. All major activities and achievements of last year by the Centre are also highlighted in this issue as well as upcoming events in 2009.

The newsletter also lifts the lid on corrupt practices through a survey recently published by Hawkamah and the National Investor, that discuss how companies in Dubai and the UAE are among the best in the region in terms of communication but still fall short in the areas of transparency and full disclosure. But all is not bad news as Dubai and the UAE are moving in the right direction with regulatory and corporate initiatives to expand and improve corporate governance and educate business leaders. It's here that CRB will be paying much more attention to the subject by intensifying its corporate governance awareness programs in the field.

In context of a forum on developing working women, the newsletter deals with an expert panel's recommendation of providing facilities for working mothers in the UAE, so that they were able to maintain the right balance between working and family lives. The key message was that businesses in Dubai must learn from the initiatives and programs of other countries that have faced similar issues of marrying modernity and culture - and so women can become dynamos of social change rather than dominoes of social pressure.

This issue of CSR Al Youm also celebrates Dubai Chamber receiving the Middle East Business Awards (MEBA) commendation for implementing water and energy savings within the Chamber building in the category of Environmental Contribution of the Year Award. It also highlights the CSR tool of the month, which is Global Reporting Initiative (GRI) G3 Guidelines that make non-financial reporting a breeze.