Dubai: The Securities and Commodities Authority (SCA) has partnered with the National CSR Fund (Majra) to achieve corporate social responsibility, promote the UAE’s international position in this field, and direct the contributions of listed joint stock companies to social development projects. The move seeks to help sustain the national economy and contribute to achieving the UAE’s sustainable development goals as part of the “Year of Sustainability”.
The partnership was launched by Mr. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Board of Trustees of the National CSR Fund, and Mr. Mohammed Ali Al Shorafa Al Hammadi, Chairman of the SCA. The signing ceremony was held in the presence of Dr. Maryam Butti Al Suwaidi, CEO of the SCA, Ms. Nuha Al Harmoudi, Director of the National CSR Fund, and officials from both sides.
Establishing the CSR principles and fostering the role of the private sector in achieving sustainable impact in the UAE is a national priority that is consistent with the efforts to promote cooperation and partnership between the private and public sectors and enhancing the corporate role in underpinning the country’s efforts to meet the sustainable development requirements and realise the ‘We the UAE 2031’ vision. By collaborating with the SCA, we will be implementing the first phase of the mandatory corporate social responsibility (CSR) disclosure policy.
Mr. Al Marri shared.
Mr. Al Hammadi noted that “the partnership is part of the efforts of the two sides to promote socially responsible practices among listed companies, enhance cooperation between the private and public sectors, incentivize listed joint stock companies to incorporate social responsibility standards into their economic activities, and help direct corporate contributions to development projects in line with the UAE’s national priorities and ESG indicators, thereby pushing the country’s economic development to unprecedented heights and enhancing its global competitiveness.”
Under the partnership, the two parties will enhance CSR awareness, promote corporate disclosure practices, and encourage joint stock companies to contribute to social projects approved by the National CSR Fund.
Furthermore, both parties will share information, expertise, and studies; organise joint training and educational programmes in capital markets, the financial services industry, and financial inclusion; and use the e-portals and social media platforms of each other for awareness-raising purposes.