Sound corporate governance at every level of our operations is crucial to our long-term success. With this understanding, we strive to uphold the highest standards of professionalism, transparency, and integrity across every facet of our organisation.
Crescent Enterprises is a proud founding partner of the Pearl Initiative, the foremost, by-business for-business non-profit organisation in the Gulf region, developed in partnership with the United Nations Office of Partnerships, that promotes a corporate culture of accountability, transparency, and good corporate governance practices. Crescent Enterprises supports the Pearl Initiative’s management team and engages with other Pearl Initiative partner companies through the organisation’s Integration Board, and engages its wider community through research programmes and activities.
Activities supported by Crescent Enterprises:
Gulf Integrity Indicator (GII): In 2017, Pearl Initiative launched the GII to assess the corporate performance according to regional and international standards. In 2018, the pilot phase of GII was implemented. The roll-out of GII will continue in 2019 onwards. The initiative also focused on increasing participation in GII, by hosting roundtables and publishing Business Integrity Practices Series.
The Corporate Governance for Micro, Small and Medium-Sized Enterprises (MSMEs) was launched in 2017 to boost the resilience of the MSMEs through implementation of sound governance practices. In its first year, the programme focused on assessing the level of awareness and implementation of governance practices in MSMEs. To support this, data was collected through surveys, focused group meetings and one-to-one discussions with key subject matters. The findings of the study were published in a thought leadership report titled ‘Enhancing Gulf Business Competitiveness’ in 2017 and as a print edition at the Governance in Focus Forum in Kingdom of Saudi Arabia in 2018.
In 2018, the programme focused on disseminating the findings of the study to regional MSMEs through strategic events and corporate governance tools.
Governance in Philanthropy: Pearl Initiative published the ‘State of Governance in Philanthropy Report’ to highlight trends on governance practices in philanthropic and not-for-profit organisations. It also launched the Business Pledge to seek commitment from senior business leaders in the Gulf in adhering to the principles of ethical and responsible corporate governance practices. The initiative acquired 30 new Business Pledge signatories in 2018, increasing the overall count to 187.
Crescent Enterprises is a long-serving member of the United Nations Global Compact, a strategic policy initiative for businesses committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labour, environment, and anti-corruption. We are dedicated to working towards the United Nations Global Compact’s vision of a sustainable and inclusive global economy in an aim to positively impact society by improving our company’s performance.