United Nations awards special status to UAE-based Pearl Initiative

SHARJAH, Pearl Initiative, the leading non-profit organisation working to promote increased transparency and corporate governance practices across the Gulf Region, has emerged as the first private non-profit based in the UAE to be awarded the Special Consultative Status by the United Nations Economic and Social Council, ECOSOC.

ECOSOC, one of the six principle committees of the UN with a council consisting of 54 Members States, adopting the recommendation of the Committee on Non-Governmental Organisations, recognised the Pearl Initiative with the Special Status at its Coordination and Management meeting on 6th June, 2019, at the UN Headquarters in New York.

Under its Special Consultative Status, the Pearl Initiative can appoint and designate authorised representatives to the UN Headquarters in New York and the UN offices in Geneva and Vienna. The Pearl Initiative will also be authorised to attend meetings of the ECOSOC, as well as all the UN bodies that are open to non-profit organisations, including the General Assembly and other United Nations relevant bodies, thereby allowing the Pearl Initiative to promote its corporate governance activities with decision-makers at the highest levels. Besides, the Pearl Initiative will be able to submit written and oral representations to the council, which will be circulated by the Secretary-General to the council members.

Reacting to the news, Badr Jafar, Founder of the Pearl Initiative, stated, “The ECOSOC Consultative Status award is an acknowledgement of the Pearl Initiative’s important contribution towards creating a corporate culture of transparency and accountability across the Gulf Region.”

Badr Jafar added, “On behalf of our Board of Governors, we continue to be grateful for the support of all our partners and stakeholders, including the UN, and look forward to continued collaboration in realising our vision, which is a thriving economy in the Gulf Region underpinned by a private sector that embraces good governance as a pillar of sustainable growth.”

Since 2010, the Pearl Initiative has been spearheading programmes to promote higher standards of corporate governance in the Gulf Region’s private sector, including in the family firms, small- and medium-sized enterprises, the tech sector, and more recently, also in support of the philanthropic sector in the region.

Source: Emirates News Agency