RIYADH: Nearly 60 percent of businesses in Saudi Arabia and the UAE do not have an environmental, social and governance framework, a survey by ASDA’A BCW’s unit showed.
Conducted by PSB Middle East, the survey also revealed that around half of those who have an ESG framework, are not sure their employees fully understand it.
The survey marked the launch of OnePoint5, its new ESG advisory dedicated to the Middle East and North Africa region.
Out of the 200 respondents interviewed, 41 percent said their business already had an ESG framework in place, while 33 percent said they were developing one, while 26 percent admitted their company had no ESG policy.
Around 52 percent of the respondents said their company had introduced an ESG framework and they did not fully understand it, which shows the need for raising awareness of the benefits of ESG standards.
The research indicated that the Middle East’s business community had work to do to meet the high expectations of their governments on sustainability, Sunil John, president MENA of BCW, said.
