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CSR Label to bolster status of Dubai firms

dubai — The Dubai Chamber of Commerce and Industry has designed a diagnostic framework and development tool called the “Dubai Chamber CSR Label,” that will help companies in the emirate to refine and improve their corporate social responsibility, or CSR, strategy, policies and management practices, the chamber’s Director-General said.

“It fulfills a company’s need for recognition of its CSR initiatives and contributes towards enhancing reputation and market presence,” Hamad Buamim told Khaleej Times in an interview.

Companies interested in taking their CSR journey to the next level by improving and managing their companies’ CSR implementation, measuring their CSR initiatives to-date and building a better relationship with their stakeholders can apply to take part in this new initiative, Buamim said.

Excerpts from the interview:

Why was the Dubai Chamber CSR Label created?

The Dubai Chamber CSR Label was created as part of the chamber’s efforts in building a more responsible and sustainable business community by promoting the concept of CSR among Dubai businesses. This new initiative is also aimed at bringing together international best practices in CSR within the local context of Dubai. It will also facilitate growth of social responsibility for companies that have already progressed beyond the introductory stage and are looking to deepen their CSR activities.

The Dubai Chamber CSR Label not only will assist companies with established CSR strategies, but it will also assist in companies beginning to explore the CSR opportunities. It is the first voluntary standard on Corporate Social Responsibility tailored to the Middle East, specifically Dubai.

What are your expectations from the business community for this initiative?

The Dubai business community has been very receptive to the concept of CSR, which they consider as an important tool for business growth. The Dubai Chamber CSR Label not only aims to contribute towards building a more responsible and sustainable Dubai business community, but is here to create a favourable environment for businesses by raising the bar for responsible practices.

How would you assess the level of CSR awareness in the business environment in Dubai?

The concept of responsible business is in an early stage and the Dubai Chamber’s Centre for Responsible Business assists the Chamber members to apply responsible business practices that enhance performance and competitiveness and offers a variety of educational, professional training and consulting services that are designed to build individual companies’ capacity to implement broad CSR programmes including business ethics, sustainability reporting and corporate governance.

An earlier study carried out by the Centre revealed that lack of awareness about community programmes or activities (56 per cent) and lack of financial resources (41 per cent) are main obstacles that kept 66 per cent of companies in Dubai from taking part in various community involvement initiatives. Citing reasons for the participants’ involvement, the study reported that this was due to the company’s need to improve local community relationship (53 per cent), good thing to do (44 per cent) and enhanced reputation (36 per cent).

The study also revealed that larger companies are more likely to contribute to their community than their medium or small-sized counterparts.

Does the Centre for Responsible Business provide consultancy on CSR activities or the CSR Label?

The Centre for Responsible Business’ work involves fostering a favourable business environment in Dubai that values transparency, accountability and the rule of law thus the Centre goes out to promote the concept of responsible business through several workshops, seminars and toolkits. The Dubai Chamber CSR Label is a management tool.

What are the benefits for a company applying for the CSR Label?

The Dubai Chamber CSR Label clearly indicates that the holder is committed to responsible and sustainable business practices as the company gets the opportunity to communicate this using the logo. Applicants will also have the chance to participate in the Chamber’s networking seminars, training workshops and share experiences with other similar companies. It provides clear snapshot of your current CSR activities while the feedback report will provide a clear pathway for further development by identifying areas of strength and improvement.

How does a company apply for the CSR Label?

The Dubai Chamber CSR Label is open to all companies, both large and small operating in any economic sector of Dubai. The application is online and can be accessed at www.dubaichamber.ae/csrlabel. There are two steps to applying, the first being free. The applicant has access to the framework for which they can self assess their companies’ level of management in the four impact areas of CSR: workplace, marketplace, community and environment.

If a company would like to progress to the second step, they must provide evidence and information on the self evaluation framework. All submissions receive a feedback report which highlights the strengths and weaknesses of their responsible business practices

What are the eligibility criteria for applying for the CSR Label?

As the CSR Label been developed by Dubai Chamber to introduce international best practice in the local CSR context, companies from all sectors including small and medium enterprises operating in any economic field are eligible to apply.

Do participants get a feedback report for their performance?

Yes, all those applying for the Dubai Chamber CSR Label get a feedback report after a thorough review of the application that includes detailed information provided by the company. Recommendations will also be made in the feedback report for each assessment area.

· abdulbasit@khaleejtimes.com