Crescent Enterprises’ 2016-2017 Sustainability Report Demonstrates Positive Impact on Society, Environment

Dubai - MENA Herald: Crescent Enterprises, the UAE-based diversified conglomerate, has released its 2016-17 Sustainability Report that examines year two of the company’s three-year sustainability roadmap (2015-2017) and outlines a long-term vision for addressing social, governance, and environmental goals across all aspects of its operations.
The report evaluates a wide variety of sustainability indicators that are aligned with the United Nations’ sustainable development goals (SGDs) and incorporated in its sustainability vision – Enabling Sustainable Growth. The company implements the vision through four main pillars that define its sustainability performance: enabling ethical business, enabling a stronger society, enabling talent, and enabling stewardship of the planet.
Speaking on the occasion, Badr Jafar, CEO of Crescent Enterprises, said: “In this report we draw a clear connection between sustainability and business performance. Our achievements sum up the contributions of all our employees across our operating businesses and reflect their unified commitment to our sustainability mission. As we progress on this journey, Crescent Enterprises’ operations and investment will stay true to our ethos of shared value and we shall strive to do a better job at engaging in dialogue with all our stakeholders in order to help refine our strategy and improve our impact.”
Contributing to the communities in which it operates, Crescent Enterprises created 406 new jobs within its core operations and across its operating businesses, bringing the total employee count to 4,585. The company also fulfilled its objective of dedicating at least five per cent of its projected cash flow to its corporate citizenship programmes that support community causes through creative and sustainable solutions. In 2016, the programmes impacted 34,476 community members with their focus on developing soft skills and instilling a sense of entrepreneurship among school children, university students, young entrepreneurs, and businesswomen.
The company also worked to minimise its ecological footprint through a series of workshops aimed at raising awareness among employees. These workshops resulted in the significant reduction of energy consumption per employee by 33 per cent and water consumption per employee by 21 per cent, as compared to 2015.
As an equal opportunities employer and a signatory of the United Nations’ Women’s Empowerment Principles, the company has introduced a new Mother and Wellness Policy that enables women to balance their work and family duties. Some of the benefits offered through this policy include extended 120-day maternity leave, flexible working arrangements, and relaxation facilities in the company’s main offices.
Through its incubation hub CE-Ventures, Crescent Enterprises pursues new sustainable business concepts with a positive economic, social, and environmental impact. In 2016, CE-Ventures incubated three businesses in the areas of food and beverage, sustainable lighting, and workwear.
Looking ahead to the company’s sustainability vision, Ravi Kumar, Executive Director and Chair of the Sustainability Committee at Crescent Enterprises, said: “Since we initiated our sustainability reporting practice in 2013, we have seen a measured change in our operations that has created tangible value for our business, employees, and partners, as well as the communities we operate in. The three-year sustainability roadmap we adopted has strengthened our passion for practicing responsible business. We look forward to building on our success in the coming years, strengthening our positive ethical, social, and environmental focus as an integral part of our business outlook.”
The release of Crescent Enterprises’ 2016-17 Sustainability Report underlines the company’s commitment to creating an environment of trust among its stakeholders and embedding sustainability into its daily business practices. Furthermore, it aligns with the UAE Government's Year of Giving initiative that highlights CSR as a key pillar. The report has been prepared in accordance with the GRI Sustainability Reporting Standards, an internationally recognised guideline developed by the Global Reporting Initiative (GRI) to help companies report on a range of economic, environmental and social impacts.