MDBs collective climate financing contributions set to hit $170 bn by 2030
The annual collective climate financing contributions from the group of multilateral development banks (MDBs) is ...
The UAE, Saudi Arabia and Egypt occupied the top three positions in leading corporate social responsibility (CSR) drive in the region, according to the first-ever annual MENA CSR Survey Report 2020.
The report was issued by Cicero & Bernay Public Relations (C&B), a leading regional communication agency, in partnership with YouGov, an international research and data analytics group.
The C&B YouGov CSR survey’s research findings are based on the responses of 219 C-suite executives from across the region. All the data was collected online and is based on the responses of the surveyed leaders from the UAE, Saudi Arabia, Kuwait, Bahrain, Oman, Jordan, Lebanon, and Egypt, all of whom were selected using YouGov’s panel. The respondents included decision-makers in key sectors, including aviation, automotive, banking and finance, construction and real estate, healthcare, and transport. A detailed, structured, and quantitative questionnaire was used for this survey, comprising 16 questions, with four specific questions added to the ‘CSR in crisis’ section having required 8 – 10 minutes of respondents’ time. These were administered in both English and Arabic as per respondents’ preference.
Familiarity with the CSR term is the first means to embrace it. Around 66 percent of UAE C-suite executives said that they’ve heard of or are familiar with CSR. Almost 43 percent of the respondents surveyed claimed that they are well-versed with CSR; 60 percent in the UAE and 41 percent in the Kingdom of Saudi Arabia agreed to this statement.
The numbers place the UAE at the top in terms of familiarity with the concept. The survey also found that regionally, there seems to be a growing discontent and disregard towards companies and brands that are not socially responsible. A considerable 55 percent of all executives surveyed said that they would not buy a product from a brand that is not socially responsible. As per the survey, the average number of people that agree or strongly agree to stop their companies from collaborating with companies that are not socially responsible are at an average of 60 percent.
Another important takeaway from this survey is that an average of 53 percent of the respondents named the Emirates as the most active country in CSR in the region; 82 percent of the respondents were Emirati nationals. This number is a testimony to the fact that the UAE is ahead of other countries in the region in terms of CSR activities and its integration into the business operations.
A whopping two-thirds of respondents from the UAE claimed to have heard and are familiar with CSR; over 58 percent of Saudi nationals and 57 percent Egyptians agree to the same. Looking at the overall sample, responses to this question were mostly positive, with 56 percent of all respondents having heard of CSR.
As 86 percent of the respondents said they have a strong grasp of CSR, this indicates that MENA businesses inclined to include CSR in their strategies, notably because the surveyed were decision-making leaders.
The majority of executives from the UAE (94 percent) stated that they understood or somewhat understood what CSR meant, followed by 90 percent from Saudi Arabia and 86 percent from Egypt.
When it comes to evaluating if people will spend extra money to purchase socially responsible products, 72 percent of respondents either agreed or strongly agreed to paying a premium price for such a product. In the UAE and the Saudi Arabia respectively, 76 percent and 72 percent of the leaders said they are willing to pay a higher price for an ethical product or service. The willingness of respondents to shell out extra money for ethical products also highlights the awareness around CSR that prevails in the region.
When asked about countries most active in CSR in the region, 53 percent of survey respondents voted in favor of the UAE, while 17 percent said it was the Saudi Arabia and 10 percent stated it was Egypt.
The survey also identified the importance of CSR for job seekers, CSR was marked as a vital criterion by 68 percent of executives in the survey, 70 percent of those from the UAE, 70 percent of Saudi respondents, and 64 percent of Egyptians.
About 80 percent of decision-makers in the UAE admitted that the COVID-19 pandemic and related events influenced a positive perception of CSR moving forward. Overall, the majority of respondents to the survey agreed to the same.
About 52 percent of respondents from the UAE agree that CSR would have a positive effect on their company’s overall business, with a total of 95 percent optimistic of the effect. Similarly, in Saudi Arabia, 92 percent of leaders are upbeat about the impact of CSR. This infers that the overall sentiment around CSR is considerably positive in this region.
The survey places the UAE and Saudi Arabia as leaders in adopting CSR as a way of life for their business landscapes.
The results of this survey reveal that the UAE maintains a leading position in implementing CSR as part of its business strategies.
Ahmad Itani, Founder and CEO of C&B and Chairman of PRCA Mena, said: “CSR is not just a moral responsibility that we practice and support at C&B; it’s a given through which we believe no company could afford to operate without. The findings of this report reveal that the UAE has made a significant and leading contribution in ensuring the vitality of CSR, which has thus far played a crucial role during a pandemic that continues to impact every individual, company and sector on a global scale.”
Stephan Shakespeare, CEO of YouGov, commented “The importance of such reports is to inspire companies to keep CSR as part of their plans, and we are pleased to see that these practices are leading the way in the UAE. Our research indicates that corporate social responsibility is becoming embedded in corporate culture and the workforce. Senior decision-makers in these markets have a good knowledge and understanding of CSR, especially those in the UAE. It is clear that many C-Suite leaders believe it shapes the trust in companies, with many saying they personally will not buy a product that is not socially responsible.”
“Due to the pandemic, governments across the globe will now be held more accountable for the safety of their citizens, and economic downturns will test authorities’ actions, compassion and support for their people. Hence, CSR will be listed as a priority on the agenda of public companies and governments,” Stephan added.
The annual collective climate financing contributions from the group of multilateral development banks (MDBs) is ...
Sweden pledges additional $19 million to the Loss and Damage Fund at the 29th United ...
New Chief Executive Officer (CEO) DHL Express in the Middle East and North Africa(MENA) Abdulaziz ...
اترك تعليقا