According to industry surveys by organisations such as KPMG and Business in the Community (BITC) more than half of the world’s 250 largest companies now issue separate corporate social responsibility reports as standard. Furthermore, over two thirds include some form of CSR report as a part of their financial reporting as stakeholders become as concerned with how profits were earned as they are about how much was earned.
Under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the 3rd CSR Summit, which takes place at the JW Marriott Hotel on 17-20 September, will examine and evaluate the future trends of CSR globally and the effect this will have on companies and their financial reporting throughout the Middle East.
The importance of CSR has been underscored by the introduction of a number of sustainability indexes such as the Dow Jones Sustainability Index (DJS) and the FTSE4 Good Index. These indexes have clearly influenced traditional environmental reporting, which has now been replaced by sustainability reporting including aspects of social, ethical, environmental and economic issues.
Christianna Tsiterou, Summit Director said, “The business case for CSR is gathering momentum globally. By supporting the 3rd CSR Summit, UNEP and the World Council For Corporate Governance are clearly eager to create increased awareness throughout the corporate Middle East.”
The emergence of Socially Responsible Investing (SRI), a strong and growing force particularly in Europe and the US, has also underpinned the strategic importance of CSR. SRI aims to balance sustainable value to both society at large and the shareholders by investing in companies who meet their exacting standards of CSR.
“Aligning and integrating CSR with business strategy is the key challenge today for corporate cultures to absorb. Investors and consumers have become more enlightened and have started to demonstrate a gradual preference towards products, services and organisations that are associated with a social or environmental benefit,” commented Tsiterou.
Leading the CSR revolution is the financial sector, which has shown remarkable growth recording a two-fold increase in CSR reporting since 2002, no doubt mindful of the infamous role Andersen played in ENRON scandal. Indeed, stakeholders are now demanding more than just reports, it is envisaged that in future companies will be expected to show tangible evidence that their concerns have been raised at board-level and that a suitable response has been received.
“With numerous high-profile corporate scandals over the past five years, stakeholders and the media are sceptical of any company activity that claims to be driven by anything more than short-term profit and or generating superficial PR,” added Tsiterou.
The hot topics and current issues at the summit include, how to integrate CSR with business strategy and the increased value on investment, the effect CSR has on employee retention, the latest rules and regulations affecting CSR globally, how social and environmental responsibility can be profitable and Identifying the differences between CSR and ‘feel-good PR.’
An impressive line-up of international and regional expert speakers has been assembled which include amongst others, Dr Madhav Mehra, President of World Council For Corporate Governance (WCFCG), Paul Clements-Hunt, Head of United Nations Environmental Programme (UNEP) Finance Initiative, Dr Ola Ullsten, Chairman World Council For Corporate Governance (WCFCG) & Ex- Prime Minister of Sweden, Michael Hölz, Managing Director of Deutsche Bank AG, Gavin Graham, Vice President Business Relations, Shell Middle East, Karim Seifeddine, Head of Public Affairs for Citigroup, Ahmed Bin Ali, Manager Corporate Communications at Etisalat, Shami Nissan, Manager - Sustainable Business Solutions at PricewaterhouseCoopers and Robert Hiscox, Executive Director, World Council For Corporate Governance (WCFCG).
Two interactive post-summit workshops have also been included in the four-day programme. These workshops will address the in-depth issues associated with designing and implementing a CSR strategy and adding credibility to sustainability when preparing CSR reports.
In association with Shell Middle East, the 3rd CSR Summit, the region’s flagship corporate responsibility event, takes place from 17-20 September, at the JW Marriott Hotel in Dubai. The event has also attracted premium sponsors with Etisalat securing platinum sponsorship status and Al Karama Edutainment taking Silver. The event is also endorsed by the United Nations Development Programme (UNDP), the Dubai Chamber of Commerce & Industry and United Nations Environmental Programme (UNEP) Finance Initiative.
For more information, please log on to www.thecsrsummit.com
