The Dubai Chamber of Commerce and Industry recently hosted its annual conference "Dubai Dialogue 2020" virtually to discuss the ongoing developments in the business sector in the UAE. During the conference, industry experts asserted the need for businesses in the UAE to prioritize sustainability and involve it in their strategies as they work on tackling the challenges that have emerged from COVID-19 and preparing for the post-pandemic recovery.

The conference shed light on various sustainability and CSR trends going across the world and issues reshaping the global business landscape in the aftermath of the pandemic. Representatives from leading public and private sector organizations and industry stakeholders in the UAE shared their valuable insights and practical strategies for boosting the businesses in the country.

Participants displayed their presentations and engaged in discussions centered around how businesses can benefit from adopting sustainability as a strategy, tool and mechanism in a bid to improve resiliency and competitiveness. Sustainability can also help in boosting an organization's triple bottom line of people, planet and profits.

In his opening remarks, Dr.BelaidRettab, Chief Economist and Senior Director at Economic Research & Sustainable Business Development Sector of the Dubai Chamber, noted that the Dubai Dialogue is the largest conference organised by Dubai Chamber dedicated to CSR and sustainability agendas. He further described the Dubai Dialogue as an ideal platform for industry experts to share their knowledge and experiences and best practices related to the business sector.

Dr Rettab highlighted that this year's Dubai Dialogue is particularly significant, noting that these discussions are taking place at a time when the world is facing new challenges created by the COVID-19 crisis as well as new opportunities created by a changing global business landscape.

"Strong interest and participation in the conference reflect a growing awareness of the importance of CSR and sustainability in enhancing business strategies and fostering innovation," he said.

He further added that the Centre for Responsible Business has played a significant role since its establishment in 2004 in providing guidance to companies across the UAE and promoting trustworthy business practices in the sector.

Professor Vijay Pereira, Associate Professor of Strategic and International Business at Khalifa University in the UAE, asserted that the business environment has changed unprecedentedly which calls for the need to revise many of the ongoing successful conventional ways of managing business operations.

In this regard, Professor Pereira underlined that technology will play a crucial role in carrying out business operations in the post-COVID-19 world. He also emphasised on the need for integrating employee health and well-being in future sustainability strategies of the companies.

Martin Bradley, Chief Financial Officer at Dulsco LLC, also spoke about the ways in which sustainability helps businesses in creating value and benefiting from competitive advantages. He called upon more businesses to look at COVID-19 as an opportunity to carry out organisational changes and take steps towards becoming more sustainable and responsible entities in the industry.

For his part, Ibrahim Al Zubi, Chief Sustainability Officer, Majid Al Futtaim talked about the success of Majid Al Futtaim in embedding net positive environment strategy as one of its key business objectives. He noted that sustainability is a factor that can help organisations in creating new value for their businesses.

Steve Burnell, Managing Director at School Transport Services, asserted that it is the need of the hour that organisations develop favourable people policies and responsible processes as well as create sustainable products. Adding that businesses with a short-term view are likely to face challenges in the long-haul, he stressed that integration of networking, communication and listening in strategies can help in addressing social and environmental challenges.

In addition, Dr. Kamel Mellahi, Senior Manager at Dubai Chamber’s Centre for Responsible Business, highlighted that sustainability, business continuity and competitiveness are inextricably linked and must go hand in hand for the development of any organisation.

"Sustainability is more than just good business ethics, but a key component of any resilient business model," he noted, advising that businesses should make and keep sustainability as their top priority amid the post-pandemic recovery process and in the long term.

WAM