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- Transitioning to renewable/clean energy sources is a priorty for the wider community
Dubai, UAE: UAE residents have very high expectations for businesses to act responsibly on Environmental, Social and Governance issues, a landmark survey has revealed. Of those asked, 90% of UAE participants have given an importance rating of 7 or more out of 10 for large businesses, and a similar rating (88%) for small to medium businesses. Globally, expectations are lower with only 81% saying the same for large businesses and 75% for small to medium businesses, showing that corporations in the UAE are held to a much higher standard by the population.
More than 14,300 people across 14 countries and territories were surveyed* as part of the fourth annual ESG Monitor report from SEC Newgate, the global strategic communications, advocacy and research group, with regional offices in Dubai and Riyadh.
Just over four in five (82%) in the UAE said that companies should play a more active role in society – but getting the balance right is critical.
However, optimism is high in the UAE, and there is a strong belief (83%) that performing well on ESG responsibilities doesn’t have to come at the expense of profitability, while people overwhelmingly believe (67%) that companies should act in the best interests of all stakeholders rather than prioritising shareholders ahead of other stakeholders.
People care a lot about broader social and environmental issues, and significantly, 97% asked said the UAE is on the right track (putting the UAE in first place and much higher than the global average of 47%)
Some of the additional key findings from the UAE included:
- Of those asked, 87% think it’s important to transition to renewable/clean energy sources
- 85% think it’s important to act decisively on climate change
- The research found that awareness of the term 'ESG' was stable in 2024, scoring 54% globally versus 53% in 2023. Respondents in the UAE are very familiar with the term, being the 3rd most likely country to say they had a good understanding of ESG (39%), behind only Singapore (41%) and Hong Kong (43%).
- With regards to communicating their concerns around ESG, the vast majority of people in the UAE (84%) agreed that companies should more clearly communicate what they are doing to improve their performance on ESG issues.
Speaking on the findings, Elena Gramatica, Founder and CEO, SEC Newgate Middle East, said, “Our annual ESG Monitor has shown that people have high expectations of organisations to behave responsibly on ESG matters, particularly in the UAE.
“Despite other pressing concerns of the public in their day to day lives, most still see environmental, social and governance issues as important to address – even if they don’t view these through a formal ‘ESG’ lens. This is both a communication and operational challenge for businesses and governments so there is still more work to be done when it comes to ESG.
“However, there is great optimism in the UAE with people having a comprehensive understanding of ESG and the positive role that the government is playing and supporting corporations to be more accountable.”
Speaking on the findings, Fiorenzo Tagliabue, Group CEO of SEC Newgate, said, “Our global ESG Monitor has found that corporate communication shortcomings are clear to see, with a large majority believing companies need to more clearly communicate what they are doing to improve their performance on ESG issues and address stakeholder needs.
"Compliance with ESG reporting standards is just a starting point, it ensures business meets its regulatory requirements, but it does not signify excellence or an ambitious plan to drive impact through corporate operations.
“Clearly, a considered approach is needed to overcome scepticism, with many not trusting what companies claim about ESG and given that many believe companies focused on ESG initiatives are too politically focused.
“Business is under intense scrutiny on ESG issues, but failing to act ambitiously and failing to be transparent about your plans and achievements on ESG issues poses a significant reputational risk."
For further information and to download the SEC Newgate ESG Monitor 2024 reports please click here.
How the research was conducted*
SEC Newgate surveyed more than 14,300 people online across 14 countries and territories between the 4th and 29th of July. Participants were sourced from market research panels, with the survey translated and completed in-language where appropriate.
Quotas were set by age, gender and location to ensure a nationally representative sample of citizens aged 18+, and the final results were weighted by the actual age and gender proportions within each country or territory. For the ‘total’ results, each country is given equal weighting.
The countries and territories include: Australia, Brazil (a new region for the survey), Colombia, France, Germany, Greece (a new region for the survey), Hong Kong SAR, Italy, Poland, Singapore, Spain, the UAE, the UK and the USA.
About SEC Newgate
- SEC Newgate is an insights and research-driven global strategic communications and advocacy group, headquartered in Milan, Italy.
- It works at the nexus of business, politics, communities, markets and media to deliver positive outcomes for clients and communities in a connected world, where companies increasingly need communications partners with strong local roots, global reach and true entrepreneurial spirit, driven forward by talented people.
- The SEC Newgate team operates seamlessly across five continents, helping clients clearly demonstrate their purpose and value, delivering around the clock counsel and support, implementing campaigns locally, nationally and internationally.
Further information is available at the Group's website: www.secnewgate.com
For more information, please contact:
SEC Newgate Middle East
Daniela Gorini |Daniela.Gorini@secnewgate.ae
Ihab Youssef | ihab.youssef@secnewgate.ae