A recent report indicates that 84% of business leaders in the Mena region now view corporate social responsibility (CSR) metrics as crucial to their strategic planning, aiming for a responsible and sustainable business model. The fourth Mena CSR Report by Cicero & Bernay, in partnership with CARMA International, reveals that companies driven by CSR are experiencing increased consumer trust and loyalty, highlighting a preference for brands with strong ethical practices. Currently, 71% of firms have active CSR programs, with an additional 24% planning to initiate theirs. The 2023 report surveyed over 340 C-suite and senior executives across the UAE, KSA, Egypt, the Levant, and other GCC countries, covering sectors like technology & engineering, banking & finance, oil & gas, construction, healthcare, automotive, and real estate. This year's report provides enhanced analysis, including industry-specific insights and detailed responses based on seniority and decision-making roles. It also offers deeper regional and industrial breakdowns, ensuring comprehensive understanding of CSR impacts and trends. In Egypt, CSR awareness surged from 84% to 94%. Over 80% of executives noted a positive impact of CSR on customer engagement, profitability, and competitive positioning, marking a 110% increase in sentiment from last year's 38%. As global businesses face pressure to operate sustainably and ethically, the Mena region is at the forefront with initiatives that integrate environmental, social, and governance factors into core operations. The report captures this transformation, marking a significant shift in regional business approaches to ESG. Ahmad Itani, Founder and CEO of C&B, emphasized that transitioning from CSR to ESG is a transformative journey for future generations. Mazen Nahawi, Founder and CEO of CARMA International, highlighted the potential of the Mena region and the collaborative efforts to showcase CSR achievements and pave the way for future ESG advancements. The report forecasts that by the end of 2024, over 90% of Mena businesses will fully integrate CSR strategies, with significant improvements expected in environmental sustainability and governance transparency. There is also a trend towards using advanced CSR metrics to track and report sustainability efforts, providing stakeholders with clear insights into corporate performance.
Text: Lara Palmer
13.06.2024
Report Shows Growing Integration of CSR Metrics in Strategic Planning Across Various Sectors