UAE-based Arabia CSR Network (ACSRN) and the Swedish Business Council (SBC) signed a Memorandum of Cooperation (MOC) on Monday (16th January) at the Swedish House to bolster the spirit of Corporate Social Responsibility and best practices in the Arab region
The MOC was signed by Habiba Al Marashi, resident and CEO of ACSRN, and Torbjörn Bodin, president of SBC, in the presence of HE Abdullah Al Saleh, the undersecretary of UAE's Ministry of Foreign Trade, HE Max Bjuhr, ambassador of Sweden to the UAE, Daniel Johansson, Swedish State Secretary to the Ministry for Enterprise and Energy and other distinguished guests, dignitaries and business leaders.
According to the MOC, both parties shall promote sustainability best practices in the region. The SBC will encourage the Swedish companies operating in the UAE and the Arab region to join the ACSRN and the UN Global Compact Local Network while the ACSRN will help promote the establishment of effective sustainable development programs, proper waste management and recycling programs among SBC's member companies.
Both parties will also conduct advocacy initiatives and organizational capacity-building training sessions through programs and events related to but not limited to corporate governance, transparency, sustainability reporting, CSR impact measurement, business ethics and environmental management.
Habiba Al Marashi, President and CEO of Arabia CSR Network, the only multi-stakeholder forum dedicated to promoting CSR and best practices in the region, said the UAE can draw valuable lessons from the Swedish corporate best practices.
"Sweden has been at the forefront of CSR leadership both at the governmental and private level. The Swedish government continues to lead the global CSR scene by exploring new ways of ensuring that Swedish businesses comply with sustainability requirements both at home and abroad. As a result, Swedish businesses have an excellent track record in the implementation of CSR policies and adoption of sound business strategies," said Al Marashi.
Al Marashi also noted that the UAE ranks among the top business powers in the world, particularly in the Arab Region, according to the Global Human Development Report released by the UNDP (United Nations Development Programme) recently.
"Corollary to this status is the serious responsibility of sustainable economic growth which will only be possible if there is emphasis on good governance, transparency, sustainable use of natural resources, compliance with international regulations on labor and human rights and more," Al Marashi said.
Torbjörn Bodin, president of SBC, one of the most important business councils in the UAE, stated that the Swedish Business Council was delighted to sign the agreement of a co operation together with Arabia CSR Network, sharing a mutual interest of the development of corporate social responsibility and sustainability policy and practice in the region.
"We are convinced that our network and recourses, combined with Arabia CSR Network´s knowledge and expertise in the region, will make this a fruitful co operation. We realize that Sweden and Swedish companies can benefit and learn a lot from being part of this unique co-operation," said Bodin.
Bodin also noted that the agreement is based on a deep seated commitment to the development of corporate social responsibility and sustainability policy and practice in the region.
"The UAE ranks among the top business powers, particularly in the Arab world, which also means a serious responsibility. By sharing our experiences and knowledge, we are aiming to increase the awareness of CSR both as a normative concept and as a business strategy as well as a long term sustainable economic growth," Bodin added.
