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Tribune News Network
Doha
Ministers, business leaders and company executives across the Middle East and North Africa have backed a roadmap for inclusive, sustainable and resilient recovery from the COVID-19 pandemic, according to the World Econmic Forum (WEF).
The regional decision-makers signed the “principles of stakeholder capitalism” for MENA, which call for more private-public collaboration, the WEF said in a statement on Monday.
The principles have been released ahead of the WEF’s Sustainable Development Impact Summit, scheduled on September 21 to September 24, which aim to scale up sustainable solutions to address the current economic, social and environmental challenges.
The signatories to the set of principles include Yousuf Mohamed Al Jaida, the Chief Executive Officer of the Qatar Financial Centre Authority.
The signatories are members of the World Economic Forum’s Regional Action Group on the Middle East and North Africa, which the Forum created in April 2020 in response to the COVID-19 pandemic.
Top-level members of government, business and civil society convene monthly during virtual meetings with the aim of developing action-oriented initiatives and projects that strengthen the region’s resilience for the post-COVID-19 era.
Driven by their conviction that companies and governments need to have a larger societal role, the signatories believe that the shared vision and language – agreed upon in the Principles of Stakeholder Capitalism – will serve as a guiding framework to steer collaboration.
The Regional Action Group on the Middle East and North Africa will offer a platform for projects and initiatives that emerge from these principles, with the aim of scaling them up and replicating them throughout the region.
The principles have been released ahead of the World Economic Forum’s Sustainable Development Impact Summit, which aims to scale up solutions to address the economic, social and environmental challenges of our time.
“The philosophy of stakeholder capitalism places the benefit of concerned parties at heart and is the path to achieving a better standard and quality of living for all populations in the MENA region,” said Mazen S. Darwazeh, Executive Vice-Chairman and President, Middle East and North Africa of Hikma Pharmaceuticals in Jordan.
“There is an urgent need for enhanced investment and youth employment in order to ensure a brighter future for the region,” said Majid Jafar, Chief Executive Officer if Crescent Petroleum in the United Arab Emirates. “The Principles of Stakeholder Capitalism constitute a crucial effort to learn and implement the key lessons of the pandemic, so that we rebuild economies and societies with growth that is more resilient, equitable and sustainable.”
Mirek Dusek, Member of the Executive Committee at the World Economic Forum, said:“The Principles of Stakeholder Capitalism for the Middle East and North Africa constitute a milestone for the region in preparing for its future.
“They crucially provide a framework for promoting environmental sustainability, as they are designed to support regional decision-makers in shaping social and economic policies that are in line with the 2030 Agenda for Sustainable Development, thereby mitigating potential future climate-related disruptions and putting the region on a path of sustainable, equitable, and inclusive growth.”
Doha
Ministers, business leaders and company executives across the Middle East and North Africa have backed a roadmap for inclusive, sustainable and resilient recovery from the COVID-19 pandemic, according to the World Econmic Forum (WEF).
The regional decision-makers signed the “principles of stakeholder capitalism” for MENA, which call for more private-public collaboration, the WEF said in a statement on Monday.
The principles have been released ahead of the WEF’s Sustainable Development Impact Summit, scheduled on September 21 to September 24, which aim to scale up sustainable solutions to address the current economic, social and environmental challenges.
The signatories to the set of principles include Yousuf Mohamed Al Jaida, the Chief Executive Officer of the Qatar Financial Centre Authority.
The signatories are members of the World Economic Forum’s Regional Action Group on the Middle East and North Africa, which the Forum created in April 2020 in response to the COVID-19 pandemic.
Top-level members of government, business and civil society convene monthly during virtual meetings with the aim of developing action-oriented initiatives and projects that strengthen the region’s resilience for the post-COVID-19 era.
Driven by their conviction that companies and governments need to have a larger societal role, the signatories believe that the shared vision and language – agreed upon in the Principles of Stakeholder Capitalism – will serve as a guiding framework to steer collaboration.
The Regional Action Group on the Middle East and North Africa will offer a platform for projects and initiatives that emerge from these principles, with the aim of scaling them up and replicating them throughout the region.
The principles have been released ahead of the World Economic Forum’s Sustainable Development Impact Summit, which aims to scale up solutions to address the economic, social and environmental challenges of our time.
“The philosophy of stakeholder capitalism places the benefit of concerned parties at heart and is the path to achieving a better standard and quality of living for all populations in the MENA region,” said Mazen S. Darwazeh, Executive Vice-Chairman and President, Middle East and North Africa of Hikma Pharmaceuticals in Jordan.
“There is an urgent need for enhanced investment and youth employment in order to ensure a brighter future for the region,” said Majid Jafar, Chief Executive Officer if Crescent Petroleum in the United Arab Emirates. “The Principles of Stakeholder Capitalism constitute a crucial effort to learn and implement the key lessons of the pandemic, so that we rebuild economies and societies with growth that is more resilient, equitable and sustainable.”
Mirek Dusek, Member of the Executive Committee at the World Economic Forum, said:“The Principles of Stakeholder Capitalism for the Middle East and North Africa constitute a milestone for the region in preparing for its future.
“They crucially provide a framework for promoting environmental sustainability, as they are designed to support regional decision-makers in shaping social and economic policies that are in line with the 2030 Agenda for Sustainable Development, thereby mitigating potential future climate-related disruptions and putting the region on a path of sustainable, equitable, and inclusive growth.”
