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Saudi-Companies-Expand-CSR-Initiatives-to-Support-Community-Development

Saudi Companies Expand CSR Initiatives to Support Community Development

06/14/2024
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Saudi Companies Expand CSR Initiatives to Support Community Development

by Giezel Garcia
06/14/2024
in Corporate Social Responsibility

Riyadh, Saudi Arabia – Corporate social responsibility (CSR) initiatives are gaining momentum in Saudi Arabia as companies increasingly integrate social and environmental considerations into their business strategies. Firms such as Saudi Basic Industries Corp. (SABIC) and real estate developer ROSHN are implementing programs aimed at contributing to community well-being and sustainability.

Growing Focus on CSR

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CSR has evolved beyond traditional philanthropic efforts, with companies aligning their initiatives with broader national and global sustainability goals. SABIC, for instance, has adopted a structured approach to CSR through its RAISE strategy, which prioritizes science and technology education, environmental protection, health and wellness, and sustainable agriculture. These focus areas align with Saudi Arabia’s Vision 2030 and the United Nations’ Sustainable Development Goals (SDGs).

“In 2015, we introduced RAISE as a strategic tool to guide our charitable donations, sponsorships, partnerships, and employee-volunteer programs,” SABIC stated. “This approach enables us to address community needs while reinforcing our corporate values.”

In 2023, SABIC invested in 121 global CSR programs, reaching over 338,000 individuals across 27 countries, supported by more than 3,600 volunteers. The company’s Global Environmental Protection Initiative, which spans 10 countries, includes efforts to sustain marine life and address climate change.

Investments in Education and Healthcare

Education remains a key pillar of corporate social responsibility efforts. SABIC’s Global Initiative for Education and Innovation, launched in 2019 in collaboration with Junior Achievement and INJAZ Saudi Arabia, has benefited over 128,000 students globally. The company also continues its Back-to-School Initiative, providing resources and support to students across 10 countries.

Healthcare initiatives are another major area of investment. ROSHN, a developer backed by the Public Investment Fund, has incorporated CSR principles into its projects, including funding mobile health clinics and early detection programs. Through its YUHYEEK program, ROSHN has supported initiatives aimed at enhancing public health, environmental sustainability, and community development.

“Our CSR efforts are designed to improve quality of life across Saudi communities,” said Mohammed Ashour, ROSHN’s associate director of corporate social responsibility. “By collaborating with organizations such as Ehsan and Hayat Charitable Association, we have sponsored programs that benefit thousands of individuals.”

Environmental and Cultural Initiatives

As part of Saudi Arabia’s commitment to sustainability, ROSHN has participated in the Saudi Green Initiative by planting more than 25,000 mangrove trees in national reserves and schools. Additionally, the company has invested in cultural programs, supporting events such as the Diriyah Biennale Foundation, Riyadh and Jeddah book fairs, and the country’s first grand opera, Zarqa Al-Yamama.

ROSHN has also contributed to urban regeneration efforts by refurbishing over 100 homes, positively impacting more than 700 individuals. Through various initiatives, the company estimates that more than 341,000 people have accessed its health, education, social, and cultural programs.

Expanding CSR Impact

Saudi companies continue to expand their CSR strategies, incorporating long-term sustainability and social responsibility into their business models. In the sports sector, ROSHN has supported initiatives such as the ROSHN Saudi League, Formula One Grand Prix, and LIV Golf, contributing to the development of the Kingdom’s sporting landscape.

Looking ahead, companies aim to further integrate CSR into their corporate strategies, aligning with Saudi Vision 2030’s goal of fostering a vibrant and sustainable society.

Explore top supply chain news stories at The Supply Chain Report. Visit ADAMftd.com for free international trade tools.

#SaudiCSR #CommunityDevelopment #CorporateResponsibility #SustainabilityInSaudi #BusinessForGood #SocialImpact #SaudiEconomicGrowth

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