Presiding Partners with CSR Board – KSA
The CSR board in Saudi Arabia was founded by the Riyadh Chamber of Commerce & Industry in order to address and develop corporate sustainability practices in Saudi Arabia. The board’s honorary chairman is King Salman bin Abdulaziz. Under the leadership of HRH Prince Faisal bin Ahmed Al-Saud, and within the framework of the Riyadh Chamber of Commerce and Industry (RCCI), the Corporate Social Responsibility (CSR) Board plays a very important role in economic development by supporting the local business community. The board was formed by a committee of CSR experts headed by Prince Sultan bin Salman bin Abdulaziz. The board aims to motivate CSR activities that would help further society, and advance the private sector’s cooperation in sustainable practices.
As part of its efforts to encourage companies to employ ethically-minded practices, leave a positive footprint in their environment, and furthermore march towards greater transparency in their policies and financial performance, the CSR board has successfully developed a CSR board sustainability index and award mechanism. The intent is not only to recognize the corporations that successfully employ CSR, but to also measure the performance of the business community in Saudi Arabia, and its impact on the economy, environment, and society. To that end, PRESIDING has had the pleasure of being chosen by the board to operate on its behalf in the implementation of the index, and the evaluation of the companies that participate in it on a yearly basis.
However, the implementation of an index made for a market that doesn’t have a full grasp of its importance would make the effort of little value. What PRESIDING aims to do through its partnership with the CSR Board in Saudi Arabia is not just to implement the CSR, but to shift how the market views it, while also improving CSR practices in Saudi Arabia, thus benefitting both the businesses and the environment.
It is our understanding at PRESIDING that CSR is not another method for companies to receive more visibility, or attempt to gain a competitive edge over other companies through charity work. We believe that companies working in a certain environment from which they profit are ethically responsible to give back in kind through practices that positively influence three main dimensions: Economy, society, and the environment. The philosophy behind this is somewhat simple: In order for companies to secure sustainability for themselves they must also secure their environment’s sustainability. Caring for the environment by reducing their carbon footprint, for society by funding educational programs, or the economy by creating job opportunities for the local population are all examples of great CSR activities.
