Environment Still a Big Concern for Top GCC Executives, New Survey Says
Awareness on environmental issues high, but more work needs to be done
Close to three-quarters of more than 600 top executives in the GCC say the environment plays a big part in their business decisions. This is according to the Doing Business in the Gulf Survey conducted by the Leaders in Dubai Business Forum team with CEOs, COOs, Managing Directors and other top senior executives across the GCC in all industries.
73.5% of the respondents responded affirmatively when asked if environmental questions influence their business decisions and 53.9% believed that social responsibility should be an integral part of the corporate strategy.
“More and more companies are realising that sustainable corporate practices not only contribute to better cost efficiency and bottom lines, but also enhance corporate goodwill,†said Lucy Mountain, Project Director, Leaders in Dubai Business Forum.
Despite the high level of awareness, however, environmental experts at the Arab Forum for the Environment and Development say countries in the region are facing mounting environmental challenges such as fresh water scarcity, desertification, air quality and marine pollution because of climate change implications.
Interestingly, the same survey found that almost 65% of businesses in the GCC are not paying attention to the social environment, a stark contrast to the perceived growth of corporate social activity in the region.
Addressing vital environmental and other social issues will be a major sub-theme of the Leaders in Dubai Business Forum scheduled on October 26-28, 2009 with Nobel Laureate Al Gore speaking on sustainable capitalism.
Leaders in Dubai Business Forum 2009 is sponsored by Philips, The Monarch Hotel, Saxo Bank, Dubai Islamic Bank, Canon, Al Arabiya and BBC World. For more information please visit www.leadersindubai.com.
