Shell invests $273 million in community involvement activities
Shell, a leading player in the global energy and petrochemicals industry, has announced that it has invested more than USD 273 million in the worldwide development of its corporate social responsibility (CSR) program in 2006, reflecting the company's strong commitment to being proactively involved at a community level.
Shell presented its successful CSR initiatives at the 4th Corporate Social Responsibility (CSR) Summit, which was organized by IIR in association with Shell, when it was held recently at Dubai’s Dusit Hotel from June 24 – 28, 2007. The event gathered 41 high-profile speakers from different countries in three interactive workshops and 23 powerful strategy sessions.
“Shell has implemented initiatives that responsibly contribute to society by integrating and balancing the economic, social and environmental aspects of its activities through an effective CSR policy rooted in the key principle of sustainable development. Having inspired other companies to adopt this approach, Shell has become synonymous with CSR as several organizations in the region now look upon it as an exemplary business model," said Omar Al Qurashi, Communications Manager, Shell.
"The long-term economic benefits of investing in CSR initiatives are now widely appreciated and practiced in different sectors. Creating a culture of social and environmental responsibility within the organization can enhance credibility, strengthen client loyalty and attract new customers or investors. Shell is proud to be a leading international figure in this field as it has been Shell's mission to continue to innovate and fine tune our CSR program being a concerned and proactive member of the society," added Al Qurashi.
Shell has been a prominent figure in the development and promotion of CSR activities, having made significant investments in initiatives that address various social issues. Shell reported expenditures of USD 96 million in 2006 on business integrity programs, while social investment topped USD 140 million. In the same year, the company shelled out USD 37 million for employees and contractors' health and safety benefits.
"Studies show that about 94 percent of company executives believe that development of CSR can deliver real business benefits, while one in three international executives think that social responsibility initiatives increase sales performance. Also, 71 percent of CEOs have said that they are willing to sacrifice short-term profitability for long-term shareholder value when implementing sustainability programs," said Al Qurashi.
Decision makers attended the CSR Summit from different regional and global establishments, including corporate and regulatory affairs chiefs, corporate communications heads, PR managers, CEOs and CFOs, general managers, regional directors, managing directors, senior VPs, and HR directors, managers and consultants.
© 2007 Al Bawaba (www.albawaba.com)