Pearl Initiative

Pearl Initiative

Logo

Logo of the Pearl Initiative
Abbreviation PI
Motto Creating a Corporate Culture of Accountability and Transparency in the Gulf Region of the Middle East
Formation September 24, 2010 (2010-09-24)
Purpose Non-profit Private Sector led initiative
Region served
Persian Gulf
Founders
 Badr Jafar
Amir Dossal
Executive Director
 Imelda Dunlop
Website www.pearlinitiative.org

The Pearl Initiative is a Gulf business–led organisation promoting a corporate culture of accountability and transparency as a driver of competitiveness and sustainable economic growth across the Persian Gulf region of the Middle East. The organisation was developed in cooperation with the United Nations Office for Partnerships and was launched in September 2010 at the United Nations Headquarters in New York. In 2013, the Pearl Initiative signed a strategic partnership with the United Nations Global Compact to collaborate on a number of programmes in countries across the Middle East and North Africa.[1][2]

The Pearl Initiative aims to influence the regional business and student community positively towards implementing higher standards in corporate accountability, transparency, and governance within the Middle East. As a result, the organisation develops programmes and publishes regional research reports and case studies that helps encourage greater insight and appreciation of business cases, issues and associated trends. The Pearl Initiative also aims to bring together business, government and civil-society decision makers to discuss best business practices and maximize the economic opportunities available to companies within the region. To encourage Gulf-based university students to identify and embrace ethics as in their future careers, the Pearl Initiative has closely engaged with universities across the Gulf Region of the Middle East.

As a non-profit, private sector led initiative, the Pearl Initiative is supported by annual contributions from its partner companies that are based across the Persian Gulf region.[3]

Agenda

Pearl Initiative Board of Governors Meeting, United Arab Emirates, Sharjah, April 2011.

The official Pearl Initiative agenda includes:[4]

  1. Initiating collective action and dialogue forums; acting as the catalyst between regional and global business leaders, international institutions, government bodies, wider initiatives, and cross-sector partnerships.
  2. Knowledge creation; by fostering greater insight and appreciation of the business case, issues and trends associated with transparency and accountability through the generation of new data, research and analysis across the region.
  3. Building a collaborative educational environment; within the many institutions to help assert a foundation for future leaders, to make a difference in creating a culture of transparency and accountability.

Activities

Dialogue forums

Annually, dialogue forums and interactive roundtables are sponsored by the Pearl Initiative,[5] to enable contact among global and regional corporate business leaders, local government bodies and wider initiatives. Meetings are held in major cities across the Persian Gulf region. In 2015, the Pearl Initiative and United Nations Global Compact held their inaugural Regional Forum in Dubai under the theme Corporate Accountability Matters.[6]

University collaborations

Pearl Initiative Student Case Study Competition KSA Award Ceremony, Kingdom of Saudi Arabia, Riyadh, May 2013

The Pearl Initiative holds Case Study Competitions for university students to research, write and submit case studies of Corporate Good Practices in accountability and transparency that are implemented and working within the Region. The published reports contain information that can benefit the business community and can be used as teaching material by regional universities.[7]

The first report in the Corporate Good Practices Series Accountability and Transparency was published in 2012. The report includes eight case studies written by MBA students from Judge Business School of the University of Cambridge in the UK and the American University of Sharjah.[8][9] In 2013, Pearl Initiative – in collaboration with the King Khalid Foundation – launched a competition for Saudi university students and published a Report including the top case studies on best practices applied in Saudi companies.

In 2014, the Pearl Initiative ran the Case Study Competition for university students in the UAE. The published report includes the top five case studies submitted for the competition.[7]

Programmes

Reem Al Hashimy, UAE Minister of State and Board Representative of the Higher Committee and Managing Director of the Expo 2020 Executive Body keynote speech at Pearl Initiative and United Nations Global Compact Inaugural Forum “Corporate Accountability Matters”, United Arab Emirates, Dubai, 16 April 2015

The Pearl Initiative operates programmes and publishes regional insights and research-based reports in the following topics:

Corporate Governance 360

The Pearl Initiative develops several programmes that aim to enhance corporate governance practices across the private sector in the Gulf Region of the Middle East. In January 2013, in collaboration with PricewaterhouseCoopers, the Pearl Initiative published a report titled Family Matters: Governance in GCC Family Firms, based on the results of interviews with 106 family firms in the Persian Gulf region.

In June 2014, a research report Good Governance in Family Firms was published by the Pearl Initiative to study the governance frameworks of five of the Persian Gulf region's prominent family firms – WJ Towell Group, SABIS, Alissa Group, Al Zamil Group and Majid Al Futtaim Group, by providing in-depth analysis for similar firms to draw upon.

The Pearl Initiative is launching a programme to help enhance the competitiveness of the SME Sector in the Gulf Region through raising the standards of corporate governance and accountability.

Anti-Corruption Best Practices

The organisation currently runs a three-year collective action programme on Implementing Integrity Practices in GCC Private and Public Businesses in collaboration with the Siemens Integrity Initiative to raise awareness and encourage the adoption of integrity practices in businesses across the Gulf Region of the Middle East.[10]

Following the launch of the programme, the Pearl Initiative published its report At a Glance: Anti-Corruption Good Practice in December 2015. The report offers a practical guide for regional companies to incorporate anti-corruption measures into their operations, and demonstrates that tackling corruption can boost job creation and profits and promote international expansion of companies across the region.[11]

Diversity in Business Leadership

The Pearl Initiative's Diversity in Business Leadership programme incorporates business cases for greater gender diversity at senior levels, as well as delivering insight on the practical ways that companies can incorporate more women in senior management and board positions.

In 2015, the organisation published its research report Women's Careers in the GCC – The CEO Agenda. The Report examines the position of women on the corporate ladder across the Persian Gulf region, and seeks to determine what can be done to attract, retain and promote female employees through to senior roles, in order to achieve better gender diversity at executive levels and on boards.[12]

Corporate Reporting Best Practices

The Pearl Initiative signed a Memorandum of Understanding with the Prince of Wales's Accounting for Sustainability Project (A4S) in 2015 in order to promote Integrated Thinking and Reporting in the private sector across the Gulf Region of the Middle East.[13]

A Gulf Region "circle of practice" of finance leaders will be established to drive further progress and levels of implementation. The focus continues to educate, raise awareness and spread the business case for Integrated Thinking and Reporting.

References

  1. ↑ "CPC Joins Pearl Initiative's Renowned Network of Leading Regional Corporate Partners". Zawya. Zawya. 11 July 2012. Retrieved 25 July 2012.
  2. ↑ "Pearl Initiative educates the Next Generation of Leaders on Integrity and Ethics in Business". Zawya. Zawya. 23 April 2012. Retrieved 19 August 2012.
  3. ↑ "Majid Al Futtaim Holding becomes a Pearl Initiative Founding Partner". AMEInfo. AMEInfo. 7 August 2012. Retrieved 19 August 2012.
  4. ↑ "The "Pearl Initiative" designed to promote a culture of transparency and accountability in regional business". Zawya. Zawya. 20 September 2010. Retrieved 25 July 2012.
  5. ↑ "Middle East family firms focus on corporate governance". Gulf News. Gulf News. 22 January 2016. Retrieved 10 Mar 2016.
  6. ↑ "United Nations Secretary General Praises UAE Leaders For Supporting Sustainable Business Practices". WAM. WAM. 19 April 2015. Retrieved 10 Mar 2016.
  7. 1 2 "Pearl Initiative Student Case Study Competition highlights importance of responsible business practices in newly published report". Zawya. Zawya. 15 February 2015. Retrieved 10 Mar 2016.
  8. ↑ "Pearl Initiative introduces corporate good practices". The Saudi Gazette. 5 November 2012.
  9. ↑ "TDIC Recognised in Pearl Initiative's Series on Corporate Good Practices Report". UAE TOday. Retrieved 10 March 2016.
  10. ↑ "Siemens Integrity Initiative supports the Pearl Initiative to drive good business practices in the GCC". Zawya. 29 Oct 2015. Retrieved 10 March 2016.
  11. ↑ "Only 45% Gulf firms 'armed' to fight graft, study reveals". Qatar Tribune. Qatar Tribune. Retrieved 10 March 2016.
  12. ↑ "50% of GCC career women aspire to lead their organisations, says report". Khaleej Times. 17 April 2015.
  13. ↑ "The Prince of Wales's Accounting for Sustainability Project signs MoU with the Pearl Initiative". Zawya. 2 Nov 2015. Retrieved 10 March 2016.
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