ABU DHABI, 5th June, 2018 (WAM) — The National Corporate Social Responsibility Fund has signed three Memoranda of Understanding, MoUs, with the ministries of infrastructure development, climate change and environment, and community development, with the aim of monitoring and implementing social responsibility projects and programmes and reinforcing the cooperation between relevant authorities to promote corporate social responsibility, as part of the National Strategy of the Year of Giving 2017.
The MoUs were signed on behalf of the fund by Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Board of Trustees of the Fund, and Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Hessa Essa Buhumaid, Minister of Community Development.
According to the MoUs, all parties will cooperate in organising and managing companies and establishments, to support and implement sustainable development community projects.
The MoUs also specify the roles and obligations of participating authorities, relevant ministries and the fund.
Al Mansouri said that Resolution No.2 for 2018 of the UAE Cabinet related to corporate social responsibility has established the organisational framework of corporate social responsibility and its national documentation and management, as well as the general incentives to promote social responsibility and the roles and responsibilities of relevant authorities.
He added that the MoUs aim to coordinate the efforts between the fund and the relevant ministries to adopt their smart platform project, according to the work and specialisation of each ministry. He also pointed out that the smart platform will be a portal for beneficiary companies, establishments and authorities, and will organise and coordinate national corporate social responsibility and the voluntary contributions of companies.
Dr. Al Nuaimi said that with the evolution of social responsibility and its gradual adoption by the UAE, it has become necessary to establish partnerships based on clear foundations between relevant authorities, which are supported by the policies of relevant companies and establishments.
Dr. Al Zeyoudi stated that the signing of the MoU with the fund reinforces the UAE’s corporate social responsibility policy and will help in its national implementation, by supporting companies in implementing innovative sustainable development community projects, which will help strengthen the country’s economic and social development.
He added that funding and investing in sustainability is an international challenge while noting that the UAE’s efforts, through its authorities, highlight its commitment to international issues and challenges, as well as its desire to address environmental challenges and activate the role of the youth, as part of its strategic plans.
Hessa Buhumaid stressed that the signing of the MoU, which will organise the work between the Ministry of Economy, represented by the National Corporate Social Responsibility Fund, and the Ministry of Community Development, is a historical step in the UAE’s social development. This step also includes the monitoring and implementation of development projects that are eligible for funding through the corporate social responsibility contributions of companies and establishments that operate in the UAE through the smart platform, she added.