The importance of corporate governance continues to be recognised by the private sector as a fundamental component of business operations, growth, and resilience. This coupled with the effective implementation of risk, compliance, and integrity measures, helps improve organisational control, while also reducing liabilities, siloed operations, and redundancies.

A common future trend observed, is the introduction of Environmental, Social and Governance “ESG” metrics, referring to sustainable and social impact of an organisation and encompasses strategies to optimizing benefits for both business and society across the Gulf and beyond. With companies trying to further their social responsibility and enhance their impact towards their stakeholders, the integration of ESG has come to the forefront of business strategies. A strong ESG proposition helps companies tap into new markets and expand within existing ones. When governing authorities trust corporate actors, they are more likely to award them the access, approvals, and licenses that afford fresh opportunities for growth.

The “governance” part of the ESG equation has found its way more regularly and systematically into companies’ business risk, compliance, and operational integrity – through corporate governance procedures, codes of conduct and policies, especially relating to legal and regulatory matters.