Majra launches new category of ‘Impact Seal’ for SMEs
SHARJAH, 17 hours, 22 minutes ago
UAE's National CSR Fund (Majra) has taken a significant step towards fostering sustainable business practices with the launch of a new Impact Seal category, Majra SME for Impact.
This initiative aims to empower SMEs to drive sustainable impact while contributing to the UAE’s socio-economic development and national sustainability goals, said a statement from Majra.
SMEs are widely recognised as pivotal drivers of innovation, spearheading the development of groundbreaking concepts and solutions.
In the UAE, SMEs represent 94% of all companies and employ nearly 86% of the private sector workforce, it stated.
From small-scale founders to entrepreneurs leading the process of economic progress in various fields, these enterprises not only adapt to change but actively shape it, being at the epicentre of this transformative progress, it added.
The Impact seal was unveiled during Majra’s participation at the Sharjah Entrepreneurship Festival (SEF), underscoring its commitment to fostering entrepreneurship, innovation, and sustainable practices within the SME sector.
Reflecting Majra’s commitment to empowering businesses of all sizes, the new Impact Seal category fosters an environment where SMEs can better serve their communities while contributing to the nation’s economic development.
Additionally, it seeks to enhance the number of entities reporting impact data, promoting a transparent, data-driven culture that accelerates national efforts towards sustainability and social responsibility.
The criteria and indicators for the new Impact Seal category dedicated to SMEs are meticulously designed in collaboration with the Ministry of Economy.
The Impact Seal, launched by Majra in 2023, stands as the UAE’s highest recognition for excellence in corporate social responsibility (CSR) and environmental, social and governance (ESG) practices.
The launch aligns with UAE’s efforts to support the competitiveness of the entrepreneurship environment and SMEs, especially with the UAE Ministry of Economy’s National Agenda for Entrepreneurship and SMEs, which aims to bolster the entrepreneurial landscape and position the UAE as an entrepreneurial nation by 2031.
Majra Director Sarah Shaw pointed out that the Impact Seal category was more than just a recognition. "It is a testament to our commitment to supporting SMEs in achieving sustainability and responsible business practices," she noted.
"This initiative reflects our dedication to fostering a culture of impact-driven CSR within the category of entrepreneurship, ensuring that businesses are not only profitable but also purposeful in their contributions to society, environment and economy," she stated.
"We will continue to launch initiatives that empower businesses, including SMEs, encouraging them to drive innovation, social responsibility, and long-term sustainability, all while contributing to the UAE’s vision for a thriving and future-ready economy," she added.-TradeArabia News Service
