The CSR BOARD Sustainability Index
What do the CSR board and PRESIDING hope to accomplish through this index? Our job, through our thorough and well-researched understanding of Saudi Arabia’s market and its relation with the three aforementioned pillars of CSR, is to assess what companies are the industry leaders in CSR. It is through this assessment and our awareness courses that we will show what companies have been the most successful at employing sustainable practices, and doing their most to ensure a better life in Saudi Arabia. We want to raise awareness of corporate responsibility and corporate sustainability in Saudi Arabia’s business community. We will do this by establishing a benchmark for companies that are involved in CSR, and by thus doing, we aim to present a definitive reference for companies that orient their investments in projects that benefit the environment, the community, and the economy.
Benefits of Joining
The companies that partake in the assessment also have a lot more to gain from the assessment itself, as they can use it to identify possible gaps in their sustainability practices, and act to bridge them. With every year of performance assessment, companies will gain better insight into their future performance potential. In a resource constrained world, these are the companies that will benefit on the long term from the increase of their shareholder value due to their sustainable practices, and will give corporations the opportunity to compete with others by addressing long-term environmental, social, and financial concerns; the very concerns they need to address to make better investment decisions and gain investor trust.
This is why we will be presenting those participating in the index with a set of detailed questionnaires that vary among companies, depending on the field the company specializes in, and then we proceed to evaluate their performance in each of the three dimensions of CSR. Once all the results are received, the CSR Board, or PRESIDING acting in its capacity, will hold an awards ceremony to honor Saudi Arabia’s industry leaders in CSR.
In its first year of working with the CSR Board, Presiding will hold workshops, in which it will invite representatives from different companies to participate, in order to help guide them through the requirements of the questionnaire, whereupon the content will be explained in detail. Then, after the questions are prepared and approved by the CSR Board, PRESIDING will then handle the assessment after the responses are submitted, and will report the results to the CSR Board to award winning companies. PRESIDING will then proceed to receive all the eligible companies at an award ceremony that will be held to honor the best practitioners of CSR. If you would like to know if your company is eligible for the assessment, please contact us.
Each of the three dimensions studied accounts for 33% of the evaluation, with each dimension holding a number of sub-dimensions that are taken into account in the questionnaire:
The CSR Board’s index will follow a best-in-class approach. This is because we believe that this approach will allow for more competition between companies, which will further sustainability practices in both quantity and quality in Saudi Arabia.