Dubai Chamber of Commerce awarded ‘Plan to Action: Year of Sustainability Seal'
Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has been awarded the 'Plan to Action: Year of Sustainability Seal.' The award comes in recognition of the chamber's pioneering role in advancing sustainability values and driving positive impact, in line with the UAE's vision to build a more sustainable future.
The chamber received the seal for the Dubai Chamber of Commerce Environmental, Social, and Governance ESG Label initiative, which was launched last year by the chamber's Centre for Responsible Business. The initiative is designed to support companies and organisations in assessing their readiness and maturity in adopting ESG standards while recognising their efforts to promote sustainable growth.
The Dubai Chamber of Commerce ESG Label is designed to encourage the business community to adopt and develop practices that have a positive impact on society and the environment, as well as promote good governance, by recognising participants' efforts to advance sustainability. It acknowledges companies' efforts to support sustainability and motivates broader adoption of ESG practices.
Organisations of all sizes that have been established for at least two years are eligible to apply. Companies that successfully apply for the label will benefit from alignment with ESG best practices, enhanced brand image and reputation, and added value for potential investors. The framework promotes ESG ownership within organisations by benchmarking ESG practices against key parameters and peer companies in the region and globally. Participating organisations receive a feedback report highlighting any areas for improvement, together with a maturity level score based on their overall ESG rating.
As part of the label's development process, a thorough assessment was conducted by globally recognised ESG experts, which examined global and regional regulatory landscapes and reporting frameworks to identify the critical factors in determining an organisation's ESG maturity. The business community was also consulted during the development phase to help shape the framework, which is aligned with global best practices and meets the local and international baseline for ESG reporting and preparedness.
ESG has emerged as a strategic priority for organisations of all sizes, creating a need for companies to integrate sustainability goals into their core business practices and operations. This includes adopting transparent reporting standards, reducing environmental impact, enhancing social responsibility initiatives, and ensuring governance practices align with ethical principles.
Dubai Chamber of Commerce's Centre for Responsible Business plays a pivotal role in promoting responsible and sustainable business practices in the emirate and is committed to supporting and motivating companies to adopt best practices in ESG to enhance their performance, increase competitiveness, and enrich their social and environmental contributions. The centre provides a range of platforms and tools, as well as access to knowledge and expertise, to help companies embed governance, sustainability, and social responsibility throughout their operations.
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