Pearl Initiative

The Pearl Initiative is a non-profit organization founded in 2010 that focuses on corporate governance, accountability and transparency in the Persian Gulf region.[1][2]

Pearl Initiative
AbbreviationPI
FormationSeptember 2010 (2010-09)
Region served
Persian Gulf region of the Middle East
Founders
Badr Jafar
Amir Dossal
Executive Director
Ranya Saadawi
Websitewww.pearlinitiative.org

History

The Pearl Initiative was founded in 2010 in cooperation with the United Nations Office for Partnerships[3] to promote higher standards in corporate governance, accountability, and transparency in the Gulf region.[4][5] The organization was granted Special Consultative Status with the United Nations Economic and Social Council in 2019.[6] In 2020, the Pearl Initiative launched its updated strategy "PI Vision 2025".[7]

Activities

The Pearl Initiative’s activities includes programs that cover governance-related topics for corporations, family firms, micro, small and medium-sized enterprises, and philanthropic organizations.[5] The organization engages with academia and hosts forums, workshops, and round-tables.[8][9]

Programs

Anti-Corruption Best Practices: Launched in partnership with the Siemens Integrity Initiative in October 2015, the program focuses on providing GCC businesses with tools to implement and evaluate their integrity practices.[10][11]

Diversity in Business Leadership: The program was launched in 2014, and promotes diversity and inclusion in business operations as pillars of corporate governance.[12]

Governance in MSMEs: Established in 2017, the ‘Corporate Governance Fundamentals’ digital platform was launched to help the Gulf Region’s micro, small and medium-sized enterprises build and customize corporate governance practices.[13]

Governance in Philanthropy: Delivered with support from the Bill & Melinda Gates Foundation,[14][15] the program was launched in 2017, and focuses on governance practices adopted by philanthropic organizations in the Gulf Region. In May 2020, the program launched the Gulf Business Philanthropy Circle, an online resource center for donors.[16]

Governance in Family Firms: Launched in 2012, the program aims to address common governance issues within family businesses, and provide information on existing best practices adopted by prominent family firms across the Gulf Region.[17][18]

Governance in Tech: Launched in 2021, the program emphasizes the corporate governance practices adopted by technology companies in the Persian Gulf region and aims to understand the corporate governance capabilities that can be adopted across each development stage of a tech firm’s lifecycle.[19]

Events

In 2015, the Pearl Initiative hosted the inaugural Regional Forum in Dubai under the theme Corporate Accountability Matters.[20] The forum was held in partnership with the United Nations Global Compact that co-hosted the second Regional Forum in 2016, titled Sustainability in Action: Business and the Sustainable Development Goals. The Governance in Focus forum was held in Riyadh in 2018, co-hosted by Saudi Aramco.[21]

Structure and key people

The Pearl Initiative’s Board of Governors and CEO Council is made up of members representing Saudi Aramco, Tadawul, Shell, Ernst & Young, PwC, Aramex, Chalhoub Group, KPMG, Bank of Sharjah, Saudi Telecommunications Company, Freshfields Bruckhaus Deringer, Dana Gas, Crescent Petroleum, Gulftainer, Al Rajhi Partners, Crescent Enterprises, and ASDA'A.[22][23][24]

In 2018, the Pearl Initiative’s Board of Governors established a Student Advisory Board made up of students from the American University of Sharjah, Effat University, Ahlia University, Abu Dhabi University and Prince Sultan University.[25][26][27]

In 2021, the Pearl Initiative announced the appointment of Ranya Saadawi as its Executive Director.[28]

Publications

Publications by the Pearl Initiative include:

  • CEO Perspectives Report: Corporate Stewardship in Times of Crisis[29]
  • Women in the Economy: The UAE Outlook
  • The State of Governance in Philanthropy – Gulf Region
  • GCC Corporate Good Practices in Accountability and Transparency

References
  1. "Mena focus for UN campaign". Retrieved 11 July 2018.
  2. "Middle East family firms focus on corporate governance". Gulf News Economy. Retrieved 11 July 2018.
  3. "Next 10 years is key for MENA's long-term sustainability, says Badr Jafar". Wamda. Retrieved 2022-04-12.
  4. "Mena focus for UN campaign". The National. 2013-09-21. Retrieved 2022-04-12.
  5. None. "The Gulf region's business community celebrates a decade of collective action with Pearl Initiative". Khaleej Times. Retrieved 2022-06-06.
  6. "Pearl Initiative promotes strategic philanthropy in the Gulf region". www.gulftoday.ae. Retrieved 2022-04-12.
  7. None. "Pearl Initiative launches long-term strategy to assist business community". Khaleej Times. Retrieved 2022-04-12.
  8. None. "Pearl Initiative's engagement with 300 philanthropists highlights a shift to strategic giving". Khaleej Times. Retrieved 2022-06-06.
  9. "Effective governance practices needed to spur investment opportunities". Saudigazette. 2018-04-30. Retrieved 2022-06-06.
  10. "Siemens Integrity Initiative supports the Pearl Initiative to driv ..." press.siemens.com. Retrieved 2022-05-15.
  11. "The shining pearls". Saudi Gazette. Retrieved 8 April 2018.
  12. "Pearl Initiative promotes strategic philanthropy in the Gulf region". www.gulftoday.ae. Retrieved 2022-05-15.
  13. "Pearl Initiative launches digital platform to help SMEs with corporate governance". Arabian Business. Retrieved 2022-05-15.
  14. "A lasting legacy for the Year of Giving". gulfnews.com. Retrieved 2022-05-15.
  15. "Pearl Initiative launches new programme". Gulf News. Retrieved 30 June 2018.
  16. None. "Pearl Initiative's engagement with 300 philanthropists highlights a shift to strategic giving". Khaleej Times. Retrieved 2022-05-15.
  17. "Roundtable discusses sustainable business practices in family firms". www.gulftoday.ae. Retrieved 2022-05-22.
  18. "Path to profits: Pearl Initiative's Imelda Dunlop". Arabian Business. Retrieved 2022-05-22.
  19. "Pearl Initiative promotes strategic philanthropy in the Gulf region". www.gulftoday.ae. Retrieved 2022-06-06.
  20. "United Nations Secretary General Praises UAE Leaders For Supporting Sustainable Business Practices". wam. 2015-04-20. Retrieved 2022-05-14.
  21. "Top business names to speak at high-level Riyadh forum - Arabian Business". Arabian Business. Retrieved 2022-05-14.
  22. "Ministers, business leaders gather at Expo2020 Dubai to reinforce business case for governance and sustainability". wam. 2021-11-21. Retrieved 2022-05-07.
  23. "Patronage and Governance". Pearl Initiative. Retrieved 2022-04-15.
  24. Staff Writer; WAM. "Pearl Initiative launches 'Vision 2025' to transform corporate governance practices across Gulf region". www.zawya.com. Retrieved 2022-04-15.
  25. "Prince Sultan University | News". www.psu.edu.sa. Retrieved 2022-05-07.
  26. CL (2021-06-21). "Pearl Initiative names six GCC youth to its Student Advisory Board". Middle East News 247. Retrieved 2022-05-07.
  27. "Student Advisory Board – Summary". Pearl Initiative. Retrieved 2022-04-17.
  28. "Pearl Initiative promotes strategic philanthropy in the Gulf region". www.gulftoday.ae. Retrieved 2022-04-15.
  29. "Majority of CEOs Cite Corporate Stewardship as Key Influence on CSR and ESG Initiatives". Los Angeles Times. 2021-09-08. Retrieved 2022-04-14.
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