DMCC, the leading Free Zone for commodities trade and enterprise in Dubai, announced today it is the first Free Zone in the UAE to commit to the world’s largest corporate sustainability initiative, the UN Global Compact.

Founded in the year 2000, the UN Global Compact is a United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation and progress.

DMCC committed to the UN Global Compact in August 2017 to encourage responsible business practice throughout the entire value chain ranging from its DMCC Free Zone, home to over 14,100 companies, its Jumeirah Lakes Towers District with over 92,500 people, and from its property developments through to its trade facilitation for key commodities sectors such as precious metals, diamonds, tea, coffee, and the food and the agri-trade.

Speaking on the occasion, Mahmoud Hesham El Burai, the United Nations Global Compact UAE Network Representative, said, "We applaud DMCC’s leadership in prioritising sustainability in their marketplace. DMCC is the first of all free zones throughout the UAE to become signatories to the UN Global Compact UAE Network. Through this leadership, they are setting a precedent throughout the country on the sustainability agenda. My hope is that this partnership will foster a community of business embracing sustainability, which is in aligned with the UAE’s 2021 Vision."

The DMCC and UN Global Compact partnership announcement follows a series of meetings between the two entities. In September this year, Ahmed Bin Sulayem, DMCC’s Executive Chairman, and Gautam Sashittal, DMCC’s Chief Executive Officer, attended the UN Global Compact CEO roundtable and the UN Private Sector Forum in New York.

"Working with Global Compact will allow DMCC as the first ever Free Zone to foster sustainable growth by delivering to the UN’s sustainable development goals on a national and international scale. In line with our robust regulatory platforms and work to support producing nations such as Africa, DMCC believes that Corporate Social Responsibility is critical in making the future of trade better and an obligation for all of us," said Bin Sulayem.

Earlier this month, Sir Mark Moody-Stuart, Vice Chairman of the Global Compact, addressed an audience of over 350 global diamond experts on the importance of the Global Compact at DMCC’s Dubai Diamond Conference.