Year of Giving Strategy - Carrots & Sticks

The Year of Giving, is a set of strategic initiatives to increase the level of CSR, volunteerism, enhance the role of Humanitarian organisations in the development sector, serve the nation, and develop a legislative system related to the goals of the Year of Giving within the UAE . It is not entirely clear whether these initiatives will become mandatory or not, but according to top officials this initiative will make some CSR disclosures mandatory for a set amount of companies.

Issuer name

Ministry of Economy

Government ministry

Business/Trade/Industry

More information

Within the realm of CSR they are implementing the following initiatives (with currently no legislative backing) a CSR Smart Platform, Forum, Committees, National Statistics, Naitonal Index, Mandatory Disclosures (A framework requiring all private sector companies and establishments renewing their trade license to disclose their CSR initiatives and contributions), Responsible Procurement, Annual Celebration of CSR Results, CSR Mark, CSR Passport. They are attempting to implement a Federal Law on CSR: A law that aims to regulate CSR in the country, determining its rules, scope of interest, motivational systems, prerogatives, and more. Reviewed 2/01/2019

Organizations covered by the instrument

All Companies

Industry scope

All/none specified

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

All

ESG coverage- G (Governance)

All

Status

Current

Country

United Arab Emirates

Region

Africa & Middle East

Date of publication

2018

Issuer type

Governments (governmental department, agency)

Reporting requirements

Other e.g. action plan, strategy, programme, voluntary initiative

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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