Mepco, a leading vertically-integrated paper manufacturer in the Middle East, was recently awarded the King Khaled Award for Responsible Competitiveness (RC Award).

The accolade is held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, and is known for honouring companies that have built competitive advantage through a commitment to sustainability and corporate social responsibility (CSR).

Responsible competitiveness has been described by the World Trade Organization as being ‘about forward-looking corporate strategies, innovative public policies and engaged and vibrant civil societies’.

The King Khalid Foundation established the Responsible Competitiveness Branch with the introduction of the Saudi Responsible Competitiveness Index (RCI) in collaboration with the Foundation and global consulting firm Accountability.

The framework builds on extensive research and consultation with some of the world’s largest companies, management scholars and investors. Five core areas of good performance are measured for the RC Award, each selected with a clear rationale, strong business case and tailored specifically for Saudi Arabia.

Launched in 2008, the award is a multi-year initiative to assess, reward, and improve responsible business practices in Saudi companies. The underlying concept is the notion that organisations can gain a range of competitive advantages from embedding responsible business practices, which also aligns with the Kingdom’s broader development goals and Saudi Vision 2030.

The RC Award goes beyond philanthropy initiatives and focuses on aligning CSR practices with business imperatives, such as promoting growth, improving profitability, enhancing brand and reputation, and deepening engagement with key stakeholders. – TradeArabia News Service