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The Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued Cabinet Resolution No. 2 for 2018 regarding the Corporate Social Responsibility (CSR).
The resolution aims to place an organisational framework for national social responsibility and the mechanisms of documenting, managing and organising them, as well as placing a general framework for the incentives and privileges of practicing social responsibility and specifying the roles and responsibilities of concerned authorities, to organise and incentivise social responsibility among companies and establishments.
While executing the resolution, it was stated that practicing social responsibility is optional for companies and establishments, based on an overall desire to promote institutional giving and develop society through optional contributions to projects listed on a "Smart Platform for Social Responsibility," which will be part of the "National Social Responsibility Fund."
According to the resolution, the social responsibility efforts of companies and establishments will involve contributing to the economic, social and environmental development of society, through offering monetary and other contributions, adopting environmentally-friendly policies in production and work, strengthening the spirit of innovation and scientific research, offering solutions to the problems and challenges facing the community, and establishing a social responsibility culture by placing relevant sustainable strategies.
The National Social Responsibility Fund will be established as a federal administrative body attached to the Minister of Economy and will enjoy legal, financial and administrative independence and the capacity to exercise its authority as assigned. The Ministry of Economy will handle the fund’s starting expenses.
The fund will be responsible for establishing a Smart Platform for Social Responsibility, listing participating companies, establishments, beneficiary authorities and related projects and programmes, promoting and spreading the social responsibility culture, monitoring the execution of social responsibility projects and programmes listed on the platform, and awarding the social responsibility mark to companies and establishments according to the standards, conditions and regulations issued by the UAE Cabinet.
The fund will also announce the annual social responsibility results and prepare an annual national indicator for social responsibility, based on contributions to projects and programmes and the standards and regulations specified by the cabinet.
The fund will appoint a Board of Trustees chaired by a minister, who will decide on issues such as the formation of the board and determining the number of members, their rewards and the term of their membership, as well as planning the board’s meetings.
The fund will also establish a Smart Platform for Social Responsibility, with the aim of organising the optional contributions to developmental projects and programmes listed on the platform, as well as documenting and co-ordinating relevant social responsibility efforts, to maintain a complete database of all listed companies and establishments and the value of their contributions to the projects and programmes of beneficiary authorities in the country, and the sectors benefiting from the contributions, according to the country’s development priorities.
The platform will also contain studies on social responsibility and educational and training manuals, as well as list the incentives, privileges, conditions and regulations related to being awarded the social responsibility mark issued by the cabinet.
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