The Pearl Initiative, PI, an independent non-profit organization promoting a corporate culture of accountability in the Gulf Region, has signed a Memorandum of Engagement, MoE, with ENOC Group highlighting its commitment to enhancing corporate responsibility and transparency in the region.
Through this partnership, the two sides seek to gain advantage from each other’s experience in the area of corporate governance, commit to jointly promoting ethical behaviour and business practices including transparency and accountability, in addition to investing in initiatives that stimulate social entrepreneurship in different markets.
Commenting on the agreement, Saif Humaid Al Falasi, Group CEO of ENOC, said, "We are deeply committed to integrating corporate governance across our business.
We are happy to engage in Pearl Initiative’s activities to promote ethical behaviour and advocate for corporate accountability and transparency as we understand the crucial role these values play in today’s fast-moving market conditions. We look forward to utilising Pearl Initiative’s resources to benefit our business stakeholders in adopting qualitative goals and best practices."
In turn, Yasmine Omari, Executive Director at the Pearl Initiative, stated, "We are excited to be working side-by-side with ENOC, an important player in the oil and gas sector globally and are recognized for their values towards responsible business practices."