Sustainability Review
Community and Employees and Group company initiatives

Corporate Social Responsibility is a core element of SEDCO Holding’s organizational culture, and radiates outwards to involve group companies. SEDCO Holding’s CSR is inspired by the values of its shareholders and Saudi Vision 2030, which specifically calls on the private sector to be socially responsible.

2,160

The target of 2,160 volunteering hours was comfortably exceeded in 2018, with employees participating in 36 initiatives.

SEDCO Holding’s CSR continued engaging with the community and looking after its employees. 2018 saw CSR formalized in KPIs – many of which were exceeded. CSR initiatives focused on forming new partnerships to amplify reach, and find new channels to empower communities.

Community Giving back to the community is a key element of SEDCO culture. It was this emphasis on community engagement that first sparked the Riyali financial literacy scheme. Riyali is now a brand in its own right and in 2018 rose from strength to strength.

During Ramadan, the CSR team combined community-focused activities under one purpose. The ‘Journey of Giving’ initiative engaged employees, reached out to families and gave back to society’s most vulnerable, including orphans.

Volunteering is an important part of SEDCO culture, and is formalized in employee KPIs. Team members are expected to donate a set amount of time to worthy causes. Volunteering went mainstream in 2018, with employees identifying causes they wanted to support in the broader community, and giving pro-bono hours to entrepreneurial startups and community initiatives. The target of 2,160 volunteering hours was comfortably exceeded, with employees participating in 36 initiatives, a 6% increase compared to the previous year.

SEDCO’s Group-wide culture of community outreach saw it win the Gulf Sustainability Award for volunteering. 2019 will bring a more streamlined volunteering approach that puts employees in the driver’s seat and encourages them to take ownership of volunteering opportunities without being driven by the CSR team.

Employees SEDCO Holding has created an Employee Value Proposition that guarantees a positive work culture, transparency and recognition for its teams.

Team spirit and positivity were facilitated in 2018 through initiatives such as Smile Day. The SEDCO Football Cup held another successful season, with the number of participating employees and operating companies increasing.

SEDCO continued recognizing employee achievements with its Employee of the Month award. The SEDCO Group Stars program, which fast-tracks high-potential employees to leadership roles, saw its third wave of future leaders graduate. A further 15 stars were enrolled in the fourth wave.

2018 also saw an expansion of SEDCO’s Tawasul alumni program. The program encourages employees and SEDCO’s leadership to regularly visit retired SEDCO alumni.

Employee-centric initiatives contributed to SEDCO Holding winning 4th place in the Great Place to Work® in Saudi Arabia rankings. The organization placed 12th in all of Asia.

2019 will expand employee wellness to cover personal wellbeing beyond physical fitness. SEDCO Holding will initiate programs for mental and spiritual wellbeing and promote holistic health.

Group company initiatives SEDCO Holding’s CSR culture is furthered by the group’s operating companies that operate their own initiatives in addition to SEDCO Holding’s.

In 2018, technology firm Ejada signed a new partnership with STC to support Saudi Vision 2030, with investment in local goods, services, assets and technology to spur economic diversification and improve Saudi Arabia’s balance of payments.

Arabian Farms participated in the UAE Ag-Ccelerator initiative to adopt sustainable technologies, enabling effective agriculture in marginal environments. The Ag-Ccelerator brought public and private sector entities together with civil society and academia to address food security regionwide. Arabian Farms’ leadership participated in a 100-day workshop that culminated in a series of recommendations presented to the UAE’s leadership.

As the world’s largest Shariah asset manager, SEDCO Capital continued to promote its Prudent Ethical Investing (PEI) approach on the world stage. The strategy combines responsible investing with Shariah principles to create a sustainable investment framework. The approach uses negative screens, transparency and ESG criteria to avoid harmful products, and boom and bust cycles. Market research shows that PEI can outperform unconstrained portfolios and conventional ethical approaches in terms of risk-adjusted gains.

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SEDCO Group Stars enrolled further 15 stars in the program’s fourth wave.

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