The National CSR Fund Majra Convenes Fourth Meeting Of Board Of Trustees For 2024-2026 Term

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H.E. Bin Touq: Under the guidance of its wise leadership, the UAE consistently takes proactive measures to strengthen corporate social responsibility practices

• The initiative highlights the key role of the National CSR Fund in channelling private sector contributions toward national development initiatives
• The meeting highlighted the accomplishments and future initiatives, which are aimed at fostering strategic partnerships and promoting sustainable practices in the UAE.

Dubai,September 2024: National CSR Fund – Majra held its fourth meeting of the Board of Trustees for 2024-2026 term. The Board of Trustees play a key role in establishing the regulatory framework for corporate social responsibility and sustainable impact in the UAE. The meeting was chaired by H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of the Board of Trustees. The key objective of the meeting was to evaluate the progress and review the Fund's strategic plans for the coming period, with a commitment towards advancing sustainable impact in the field of corporate social responsibility.

H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of the Board of Trustees of National CSR Fund – Majra, said:“The UAE has made tremendous progress in enhancing corporate social responsibility practices under the guidance of its wise leadership. The partnership between the UAE's public and private sectors stands as a global benchmark. Over the past five years, the National CSR Fund – Majra has been a key player in driving private sector strategies to achieve positive societal impact, aligning with national priorities and sustainable development goals (SDGs), including the 'We the UAE 2031' vision and the 'National Strategy for Sustainability'.”

The meeting was attended by H.E. Hessa Bint Essa Buhumaid, the Director General of the Community Development Authority (CDA), and His Excellency Abdullah Al Saleh, the Undersecretary of the Ministry of Economy and Vice Chairman of the Board of Trustees. Among the esteemed attendees were H.E. Mubarak Al Nakhi, the Undersecretary of the Ministry of Culture and Youth, and H.E. Aisha Ahmed Yousef, Acting Undersecretary of the Ministry of Community Development, H.E. Dr. Maryam Al Suwaidi, CEO of the Securities and Commodities Authority (SCA), and H.E. Hanan Ahli, Director of the Federal Competitiveness and Statistics Centre, and H.E. Osama Amir Fadhel, Assistant Undersecretary for Industrial Accelerators Sector at the Ministry of Industry and Advanced Technology (MOIAT). Additionally, were present. The meeting also witnessed the attendance of H.E. Abdulaziz Khalid Al Jaziri, Deputy CEO and Chief Operation Officer at Dubai Future Foundation, and H.E. Salama Al Amaimi, Director General of the Family Care Authority, Ms. Mariam Al Qassab, Director of the Office of the Chairman at Sharjah Book Authority, Community entrepreneur Ms. Bodour Al Raqbani and Sarah Shaw, Director of the National CSR Fund – Majra.

Sarah Shaw, Director of the National CSR Fund – Majra, said:“This meeting represents a significant milestone in Majra's progress, further offering a place to discuss future strategies and expand on its achievements in enhancing private sector contributions to social development and sustainable action. We aspire to create new mechanisms and policies that have the potential to inspire businesses to make a lasting social and environmental impact, further advancing our nation's goals.”

During the meeting, the Council members reviewed Majra's financial reports along with an update on the initiatives and projects carried out in the previous period.. In addition, the“Impact Index” was launched to assess institutional performance in Environmental, Social, and Governance (ESG) domains, as well as the sustainable development goals of the private sector organisations in the country. Furthermore, over 80 prominent companies from the private sector in the field of sustainability were recognised and honoured with the“Impact Seal”.

The Board of Trustees outlined a forward-looking vision for new goals to be achieved in the coming years, focusing on the Majra Fund's pivotal role in mobilizing private sector contributions towards national development projects. They highlighted the importance of increasing awareness campaigns on corporate social responsibility and sustainability initiatives, particularly highlighting the UAE's commitment to these practices and their application across various projects and programs. A primary objective is to enhance understanding of the critical need for the effective implementation of these initiatives across various projects and programs.

The Board further discussed recent developments in the activities of Majra's initiatives, including the Policy and Strategies Committee and the Projects and Funding Committee. They examined achievements and proposed new strategies to address social responsibility issues and promote sustainable practices in the UAE. The members further encouraged private enterprises to adhere to Majra's newly introduced mandatory disclosure plans, which require companies to regularly report on sustainability practices and Environmental, Social, and Governance (ESG) principles, ensuring the highest level of transparency.

At the conclusion of the meeting, the Board of Trustees reaffirmed the significance of continued collaboration between public and private sector organisations. This partnership is essential to achieving Majra Fund's vision of advancing sustainable development in the UAE and maintaining its leading position as a global hub for corporate social responsibility.

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