Schema sees 30% growth in CGR implementation across MENA region

According to Schema, one of the Arab world’s prominent advisory organizations focused on Corporate Governance (CG) and Corporate Social Responsibility (CSR), the Middle East region has witnessed a gradual growth in CG and CSR implementation over the last few years resulting in an increased number of organizations moving towards more sustainable growth and improved financial performance.

Maail Qasem, Founder and CEO of  Schema and the chairwoman of the Corporate Governance and Responsibility Forum taking place next week in Amman, stated “There has been a gradual growth in the awareness and implementation of corporate governance and corporate social responsibility among governments and businesses in the MENA region over the past five years, increasing from 5% in 2007 to 30% in 2010, with approximately 50 to 60 of the region’s leading organizations for the first time publicly announcing internal changes they are implementing in order to demonstrate responsible business practices.”

Qasem went on to say, “With the current changes taking place in the region and the demands for increased transparency and stricter financial compliance, we expect this growth to continue, resulting in more and more organizations adhering to the principles of good corporate governance and social responsibility in order to make their businesses sustainable and successful.”

Schema also announced that it will be publishing its comprehensive output document following the CGR Forum that will take place on June 12^th-14^th at the Landmark Hotel in Amman, Jordan. 

The output document will outline various initiatives to be implemented that will aim to overcome the key challenges and concerns facing the CGR Forum’s regional attendees, and comes as part of Schema’s commitment to advance the practices of CG, CSR and Sustainability in the MENA region through collaboration with the private sector, civil society, governments, legislative bodies and others.

The upcoming CGR Forum 2011 will focus on the topic of “Realizing Sustainability,” providing leaders from both the private and public sector with the opportunity to exchange ideas and discuss ways of improving CGR practices in the region. 

The keynote speakers at the CGR Forum include Edith Hunt, C.O.O of the Human Capital Management Division at Goldman Sachs, Philip Armstrong, Head of the Global Corporate Governance Forum and local leaders such as Ghassan Nuqul, Vice Chairman of Nuqul Group and Salem Sousou, CEO of Lafarge Cement Jordan. Other distinguished speakers are comprised of global and regional thought leaders who will share principles, best practices and relevant case studies with attendees whilst paving the way for Jordan and the MENA region to determine its own unique frameworks, standards and methodologies for CG, CSR and Sustainability.

Support and sponsorship of the CGR Forum comes from the private sector including Hikma Pharmaceuticals as the Diamond Sponsor; Lafarge, Landmark and Primus as the Gold Sponsors; Eskadenia Software as the Technology Sponsor; and Royal Jordanian as the Official Carrier.