DMCC announced yesterday that it had joined United Nations Global Compact which it described as, “ the world’s largest corporate sustainability initiative”. DMCC is the first Free Zone in the UAE to join the international organisation.
 
As its name indicates,  UN Global Compact is a  United Nations initiative. It was founded in the year 2000 “to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation and progress”, DMCC elaborated.

In August 2017,  DMCC committed to  UN Global Compact  “to encourage responsible business practice” through  its “value chain”; from    the   DMCC Free Zone, home to over 14,100 companies; the  Jumeirah Lakes Towers District with over 92,500 people; and DMCC’s  unique property developments including the much anticipated Uptown Dubai; through to its trade facilitation for key commodities sectors such as precious metals, diamonds, tea, coffee, and the food and agri trade.

“In brief, DMCC is to make a positive impact in delivering to Global Compact’s sustainability goals through its people, partners, member companies, and the community at large by raising awareness and by encouraging companies to transform their business models to serve societal needs, contributing to a more inclusive and sustainable marketplace long-term,” DMCC explained.

“We applaud DMCC’s leadership in prioritising sustainability in their marketplace,” said   Mahmoud Hesham El Burai, the United Nations Global Compact United Arab Emirates Network Representative. “DMCC is the first of all free zones throughout the UAE, to become signatures of the UN Global Compact United Arab Emirates Network. Through this leadership, they are setting a precedent throughout the country on the sustainability agenda. My hope is that this partnership will foster a community of business embracing sustainability, which is in aligned with the UAE’s 2021 Vision.”

The DMCC revealed that the  partnership between the two organisations was the outcome of a   series of meetings held between the two entities. Also, in September this year, Ahmed Bin Sulayem, DMCC’s Executive Chairman, and Gautam Sashittal, DMCC’s Chief Executive Officer, attended the UN Global Compact CEO roundtable and the UN Private Sector Forum in New York.

“Working with Global Compact will allow DMCC as the first ever Free Zone to foster sustainable growth by delivering to the UN’s sustainable development goals on a national and international scale. In line with our robust regulatory platforms and work to support producing nations such as Africa, DMCC believes that Corporate Social Responsibility is critical in making the future of trade better and an obligation for all of us”, said Ahmed Bin Sulayem, Executive Chairman, DMCC.