4th annual MENA CSR report unveiled: Regional businesses pave the way for ESG standards

Dubai: For the fourth consecutive year, Cicero & Bernay (C&B), a leading communication partner headquartered in Dubai, has launched its groundbreaking MENA CSR Report in collaboration with CARMA International, a top global research firm. This year’s edition sets a bold precedent, reflecting the region’s CSR achievements and shedding light on the strategic pivot towards comprehensive ESG standards, poised to redefine the business ethos across MENA.

The 2023 MENA CSR report surveyed over 340 C-suite and senior executives across the UAE, KSA, Egypt, the Levant, and several other GCC countries. This comprehensive survey spans various high-impact sectors, such as technology & engineering, banking & finance, oil & gas, construction, healthcare, automotive, and real estate, showcasing broad and diverse sectoral engagement in corporate social responsibility initiatives across the region.

This year, the report has been significantly enhanced to offer a more comprehensive analysis, now including industry-specific insights and providing detailed responses based on seniority and decision-making roles within companies. Additionally, the report offers more in-depth regional and industrial breakdowns, ensuring a thorough understanding of CSR impacts and trends across diverse sectors and geographies.

2023 report highlights:

• 84% of business leaders surveyed in the MENA region now recognize CSR metrics as integral to their strategic planning, ensuring a responsible and sustainable business model.

• CSR-driven companies are seeing a surge in consumer trust and loyalty, reflecting a growing preference for brands with robust ethical practices. 71% of firms operate active programs, with a further 24% preparing to launch their initiatives.

• In Egypt, awareness and understanding of CSR grew the largest this year, increasing significantly from 84% to 94%.

• Over 80% of executives surveyed report a positive impact of CSR on customer engagement, profitability, and competitive positioning. This reflects a 110% increase in sentiment compared to last year's average of 38%, supporting the view that CSR significantly enhances business outcomes.

As businesses globally face increasing pressure to operate sustainably and ethically, the MENA region steps into the limelight with pioneering initiatives that integrate environmental, social, and governance factors into the core of business operations. The 2023 report captures this pivotal transformation, marking a significant milestone in how regional businesses will approach ESG moving forward.

"Transitioning from CSR to ESG isn't just a trend—it's a transformative journey that cements our commitment to future generations," said Ahmad Itani, Founder and CEO of C&B. "This report doesn't just reflect where we are; it's a beacon for where we're headed, underscoring our dedication to fostering a sustainable and ethically-driven market landscape."

Mazen Nahawi, Founder and CEO of CARMA International, said: "Our partnership with Cicero & Bernay is a reflection of the incredible potential lying within the MENA region. The rich tapestry of progress here is a story the world is still discovering, and through our collaborative efforts, we are not only highlighting the remarkable CSR achievements over the past year but also paving the way for future advancements in ESG and responsible business practices."

Looking ahead, the report predicts that by the end of 2024, over 90% of surveyed MENA businesses will have fully integrated CSR strategies into their operations, with significant advancements anticipated in environmental sustainability measures and governance transparency. The report also highlights a growing trend towards using advanced CSR metrics to track and report on sustainability efforts, providing stakeholders with clear and actionable insights into corporate performance.

For the complete findings and to explore how MENA is setting a new global benchmark in CSR practices, download the full report at https://www.cbpr.me/mena-csr-survey-report-2023/.