Pearl Initiative recognizes SABIC for outstanding contribution to governance and sustainable growth in Gulf region

31 Oct 2016Pearl Initiative recognizes SABIC for outstanding contribution to governance and sustainable growth in Gulf region

Yousef Al-Benyan, SABIC Vice Chairman and CEO, has been recognized as a “Pearl Initiative Governance and Sustainability Champion” for his “pioneering leadership and the outstanding contribution of SABIC to governance and sustainable growth in the Gulf region.”

The award was received on behalf of Al-Benyan by Alwaleed Al-Senani, Executive Director, Corporate Governance, at a gala dinner held in Dubai on October 26 as a prelude to the Second Regional Forum “Sustainability in Action: Business and the Sustainable Development Goals” hosted on the following day by the Pearl Initiative & United Nations Global Compact.

Commenting on the recognition, Al-Benyan said, “SABIC is honored to receive this award, which demonstrates our regional leadership in setting good governance standards. We are committed to creating a culture of transparency and accountability, and will continue to pursue best governance practices to maintain our growth momentum.”

Pearl Initiative is a leading independent, non-profit organization working to improve corporate accountability and transparency in the Gulf region. Developed in cooperation with the United Nations Office for Partnerships, Pearl Initiative was launched at the United Nations Headquarters in New York in 2010.

In collaboration with Pearl Initiative, SABIC conducted a series of interactive workshops on "Suppliers Due Diligence” this year. They were attended by more than 170 executives from local and governmental bodies, besides experts in corporate governance. The workshops dealt with how best to promote transparency and accountability, anti-corruption, and work ethics.

SABIC has a proven track record of conducting business in an honest and transparent manner, as recognized by the Saudi Council of Ministers in 2014. SABIC is one of the founders of the Gulf Institute Board, and is constantly engaged in local and international efforts to develop the rules of corporate governance, and promote good governance practices.

Sustainability is also a key element in the SABIC 2025 strategy, as detailed in the company’s Sustainability Report for 2015, which was published on the Saudi Stock Market website (Tadawul).

Yaarob Al-Thenayan
Leader, Corporate Communications