Sheikh Hamdan approves policy aimed at encouraging corporate social responsibility
Social responsibility plays a key role in building a strong and cohesive society, Dubai Crown Prince says
Published: Mon 6 Dec 2021, 10:23 PM
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, Monday said that social responsibility plays a key role in building a strong and cohesive society and enabling the private sector to contribute to Dubai's development in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
At a meeting held at Expo 2020 Dubai, chaired by Sheikh Hamdan, The Executive Council adopted policies aimed at encouraging corporate social responsibility among private sector companies. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, also attended the meeting.
The Crown Prince of Dubai said: “The deep commitment demonstrated by local companies and the private sector to social responsibility values reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to promote partnerships between the private, public and non-profit sectors with the aim of creating a positive impact on the community. The concept of social responsibility represents the commitment of companies to enhance the wellbeing and happiness of the community. Strong partnerships with the private sector, which is a strategic partner in our development journey, is vital to accelerate our development plans.”
He further said: "Many private sector institutions have proven over the years that they are responsible towards the community and are capable of fulfilling their social responsibilities. The most recent example is the collaboration between the private sector and the Dubai Government during the pandemic through the Community Solidarity Fund, to which the private sector contributed more than Dh356 million.”
The newly introduced social responsibility policy seeks to raise the role of companies and private establishments in social and economic development and inspire private companies to contribute to the community. The policy also seeks to align their projects and contributions with the priorities set by the government.
During the process of developing the policy, the Community Development Authority (CDA) engaged with stakeholders from the public, private and non-profit sectors to gain a deeper understanding of their expectations. A survey highlighted that 67% of companies' social responsibility initiatives were in the field of education, while 63% contributed to causes related to the environment, and 58% contributed to empowering people of determination.