The Minister of Human Resources and Social Development awards the winners of the 2024 Corporate Social Responsibility Award

His Excellency, Minister of Human Resources and Social Development, En. Ahmad bin Sulaiman AlRajhi, today honored the winners of the first edition of the Corporate Social Responsibility Award. This took place on the sidelines of the International Forum for Social Responsibility, which was held over two days, 28-29 October, in Riyadh.
In his speech during the ceremony, His Excellency emphasized the pivotal role that companies play in achieving the social responsibility objectives outlined in Saudi Vision 2030. He highlighted the efforts made by the Ministry, including the development of a strategy for social responsibility and the launch of the National Social Responsibility Platform, which has contributed to strengthening the companies' commitment to their social responsibilities.
He praised the significant increase in the contribution of companies to social spending, which reached 4.15% in 2023, compared to 1.19% in 2019, representing a remarkable qualitative leap. The number of companies offering social responsibility programs and initiatives has also doubled, reaching 65% in 2023. These efforts have contributed to enhancing the Kingdom's global standing, as its ranking improved by 25 positions, achieving 16^th place worldwide in the Social Responsibility Index, according to the 2024 IMD World Competitiveness Yearbook report.
The Ministry announced the start of registration for the award on 19 May 2024. The award included two main tracks: in the first track, 44 companies won for their social responsibility practices, while in the second track, 16 companies were recognized for their social responsibility contributions. Additionally, 8 companies received the Housing Sector Award.
The award aims to honor and motivate private sector companies and institutions, highlighting local efforts in implementing social responsibility practices according to international standards. It also seeks to foster a spirit of competition among private sector companies and institutions, while creating exemplary models to be followed in the business sector.