Purpose through corporate responsibility

Every organisation must deeply reflect about whether they are leaving behind a legacy or a liability, says Abdulaziz AlSowailim, EY MENA chairman and CEO

Abdulaziz Al-Sowailim

Many businesses and individuals have been reflecting on their purpose - who they are meant are making with their families - in the workplace and the wider world. This has shifted conversations away from the what' to the 'why' of how things are done and the motivation behind them.

Personally, I have also been reflecting on my purpose as a leader at EY, as a Saudi national, and as a contributor to the community I live and work in. It has become even more important to me to truly make a difference not only at the company steer but also as a citizen of my country.

I strongly believe that the prosperity of our world and economy will be driven by efforts around sustainability. In my view, sustainability is not limited to the tangible climate change occurring globally, but about how willing corporations are to invest in people ahead of profits, how responsible they will be for pursuing that change and seeing it through.

Corporate responsibility is no longer a 'nice to have' component of running a company, but a requirement to remain competitive. Societies are holding organisations accountable for the contributions they make - locally and regionally. We have seen that both current and potential employees are more empowered as they choose to work with firms that reflect their personal beliefs. During the pandemic, many operations reduced their corporate responsibility activities to save on time and costs. At EY, we ramped up our efforts.