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GLOBALLY AMBITIOUS FIRMS ‘NEED TO EMBRACE CSR’

Companies in Oman with global ambitions need to embrace corporate social responsibility (CSR), but businesses should break from the lead provided by the government in order for the private sector and society to benefit.

According to Oman-based think-tankTawasul estimates, the sultanate sees between 60 and 70 CSR initiatives each year, but adds that more is needed to have an impact on the country.

Speaking on the sidelines of the first Oman CSR and Sustainability Conference, Tawasul managing director.

Khalid al Haribi told Muscat Daily that increased private sector participation in CSR will help bring 'assessment' and analysis into the initiatives.

He said, “It is still a government-led initiative, and it will remain so for the next five years.”

Soren Petersen, senior officer at the United Nations Global Compact Office, a UN initiative which backs sustainable business policies, said that although the government does have to provide an initial lead for the private sector through incentives, companies with global ambitions will benefit as a result.

Petersen added, "You cannot be part of globalisation without higher standards and respect for sustainability."

GLOBALLY AMBITIOUS FIRMS ‘NEED TO EMBRACE CSR’

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