Report Says About 60% of Saudi and UAE Businesses Lack an ESG Framework
According to a survey conducted by ASDA'A BCW's unit, about 60% of companies in Saudi Arabia and the UAE lack an environmental, social, and governance framework.
The survey, conducted by PSB Middle East, also indicated that around half of companies who have an ESG framework are unsure that their staff completely follow it.
The survey marked the debut of OnePoint5, its new Middle East and North Africa-focused ESG advisory.
Out of the 200 respondents polled, 41% claimed their organisation already had an ESG framework in place, 33% said they were building one, and 26% indicated their company had no ESG policy.
Around 52% of respondents indicated their organisation implemented an ESG framework, and they did not completely understand it, demonstrating the importance of spreading awareness of the benefits of ESG standards.
According to Sunil John, president MENA of BCW, the research showed that the Middle East's business community needed to do more to fulfil their governments' high expectations for sustainability.
Source: Arab News
