Posted on May 29, 2013

CSR, corporate citizenship, sustainable development and corporate ethics are extremely popular buzz words within the business community. Large corporations are under scrutiny from the international community with regards to CSR practices.

Throughout the world, there has been a sharp intensification in the social roles corporations are expected to play. Companies are facing new demands to engage in public-private partnerships and are more and more accountable not only to shareholders, but also to stakeholders such as employees, consumers, suppliers, local communities, policymakers, and society-at-large.

QAPCO campaigns amongst the youth to raise awareness about environment preservation

As such, for Qatar Petrochemical Company (QAPCO), one of the leading petrochemical powerhouses in the region, optimizing its impact on the social, human, environmental and economic fronts, to meet the needs of the current and future generations, is fundamental. Therefore, QAPCO is proud to sponsor the Fourth Conference on Corporate Social Responsibility (CSR) organized under the patronage of HE Sheikh Jassim bin Abdulaziz Al-Thani, Minister of Business and Trade.

Taking place from the 28th to 29th of  May, the conference was sponsored and organized by the Ministry of Business and Trade, and brought together leading institutions and businessmen, to discuss the roles and responsibilities of both the public and private  sector with regards to CSR.

For instance, nowadays, international shareholders demand and require more and more CSR reports. Global companies don’t only have to be accountable for their actions towards the society and the environment, but they also have to officially report and communicate about them, in the upmost transparency. CSR reporting has become increasingly essential and a MUST for companies.

2012 National Day Celebration at QAPCO

Commenting on the conference, Dr. Mohammed Yousef Al Mulla, Vice Chairman and CEO of QAPCO, said: “It is natural for us to participate in the 4th CSR Conference, because at QAPCO, CSR and sustainable development are embedded in our strategy, from our daily operations to our end products, embracing our corporate values, and aligned on the Qatar National Vision 2030. Supporting the aspirations of the State of Qatar, by contributing to employment and capacity building, economic growth, environment preservation or our community’s well-being for instance, is our responsibility."

Dr Mohammed Yousef Al Mulla

"We are committed to being accountable to each and every one of our stakeholders, by nurturing mutually beneficial relationships with them. For us, CSR means developing and implementing solutions to create and deliver more value for our stakeholders. The CSR conference raises awareness about the roles and responsibilities of everyone looking at CSR and it is very positive to share experiences and ideas on that strategic topic.”

Dr. Al Mulla continued by saying: “Under the wise guidance of the Ministry of Energy and Industry and the SDIR initiative, QAPCO, along with the Energy and Industry sector, has been encouraged and supported to further consider and integrate CSR and Sustainable development within its corporate practices, by assessing and measuring our impact and performance on a number of key indicators. We are very grateful that the Ministry of Energy and Industry guided us through sustainability reporting. As a matter of fact, we will issue shortly our Sustainability Report.”

Sustainability reporting is a major step and important process for many companies. It offers a 360 degree perspective of a company’s impact on its stakeholders, via selected and relevant indicators, allowing international benchmarking.

Dr. Al Mulla concluded: “For us, CSR pushes us to perform better as a company as well, as it stimulates sustainability oriented R&D and product innovation, generates cost reduction through energy efficiencies and recycling, improved monitoring and performance assessment for instance. In addition, via closer relationships with our stakeholders, we improved communication and it generated lots of ideas and suggestions for improvement, adding value on all fronts”.

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