The Arab world stands ahead of Eastern Europe and Central Asia when it comes to corporate responsibility, according to the first responsible competitiveness ranking of the region.
Research by the think tank AccountAbility and the consultancy Sustainability Excellence Arabia, a network launched last year by Queen Rania of Jordan, shows the Arab world has an average rank of 66th out of 116 countries.
The Organization for Economic Co-operation and Development (OECD) countries have an average rank of 23rd, while Eastern Europe and Central Asia have a collective average ranking of 71st.
The study, Responsible competitiveness in the Arab world, assesses the CSR performance of 15 Arab nations using a new ranking system called the Arab Responsible Competitive Index.
The United Arab Emirates received the highest score of 64.3 out of a possible 100, while Syria, Yemen and Mauritania fared the worst.
The study adds that the Arab world can readily improve its overall ranking by closing gaps in environmental policy, labour policy and governance systems, where it has already made plenty of progress.
The document recommends that Arab businesses and governments particularly focus on developing youth talent in the CSR field, attempt to embed a culture of energy efficiency, and promote a responsible business climate by ensuring consistent regulation ‘backed up by… incentives’. They should also begin a drive to make the Arab region ‘a global innovator’ in sectors such as Islamic finance and ‘large-scale green infrastructure’.
Distribution Network
Content
Super Featured
No
Featured
No
Primary Category