The agreements were signed with Dubai Executive Council and Dubai SME
01/10/2014 00:14 AST
The Dubai Chamber of Commerce and Industry has signed two memorandums of understanding (MoU), each with the General Secretariat of the Dubai Executive Council and Dubai SME, aimed at developing corporate social responsibility (CSR) in Dubai, according to a statement from the Dubai Executive Council on Tuesday.
The MoU with the Dubai Executive Council will create a general CSR framework in Dubai, which will be a reference for companies and institutions looking to adopt strategies and initiatives that will serve the community in a sustainable manner.
The framework will include CSR concepts and sustainability standards, and explain the importance of contributing to social responsibility initiatives and their future impact. It will develop a list of the best companies that adopt the framework’s initiatives through a system of evaluation established by the chamber in collaboration with the General Secretariat.
“The MoU signing today (Tuesday) is the first step towards drafting the framework, which will be based on studies, surveys and benchmark. The final launch date will be announced at a later stage after developing the framework and discussing it with the concerned expertise and companies in Dubai,” Abdullah Al Shaibani, the Secretary-General of the Dubai Executive Council, told Gulf News in an emailed statement.
According to him, Dubai will have customised CSR criteria. “Dubai Chamber has studied the CSR practices of different countries and they have found that Dubai has its unique nature for businesses that requires customised definitions and criteria for CSR that would ensure the encouragement of Dubai-based companies to actively participate in CSR activities, which will ensure sustainable changes on the environment, economy and society,” he said.
Companies’ adoption of responsible and sustainable practices can help enhance their reputation among their customers, improve performance and productivity efficiency, while promoting the brand, regulating risks, enhancing profitability and improving resource use efficiency, according to Hamad Bu Amim, the chamber’s president and CEO.
“We also look forward to the fact that the general framework of the CSR contributes to stimulating the companies to enhance their competitiveness through the adoption of the best practices in the field of social responsibility and sustainability,” he said.
Meanwhile, the Chamber’s MoU with Dubai SME, an institution of the Dubai Department of Economic Development, will create a special programme for the development of small and medium-sized enterprises in social responsibility, and educate emerging companies on this topic. The companies will be trained to adopt and apply social responsibility concepts.
Abdul Baset Al Janahi, CEO of Dubai SME, said that the programme will provide SMEs the necessary logistics and administrative measures to help them implement and practice CSR initiatives.
The signing of the MoUs achieves the objectives of Dubai Partnership Agenda (DPA), according to Tuesday’s statement.
The DPA, launched in 2010 by the General Secretariat at the Executive Council, is a strategic government initiative aimed at facilitating collaboration and boosting synergy between the public and private sectors.
“The MoU shows the importance of harmony and communication between the various components of the business community in Dubai, and the close cooperation between Dubai Government and the private sector represented by Dubai Chamber, where we are keen through multiple channels, including Dubai Partnership Agenda to launch initiatives that serve the interest of the business community in the emirate and support the implementation of Dubai Strategic Plan 2015,” Bu Amim said.
Gulf News
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