• 21 Jul 2008
  • Global

TAQA Joins United Nations Global Compact – First Abu Dhabi company to join world’s largest Corporate Responsibility initiative.

Abu Dhabi, United Arab Emirates – The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Market (ADSM: TAQA), today announced that it has joined the United Nations Global Compact (Compact), the world’s largest voluntary corporate responsibility initiative.The Compact is an initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies and procedures, focused on addressing human rights issues, environmental concerns and corporate corruption.Commenting on the initiative, Peter Barker-Homek, CEO of TAQA said: “TAQA is aware of the issues that plague our world today and we want to do whatever is in our power to make a difference. With over 2800 employees and a presence in nine countries worldwide, TAQA holds itself to the highest standards of ethical and sustainable practices and ensures that all its employees and stakeholders individually model the company’s beliefs. By joining the Compact, TAQA is once again underlining its commitment to adopting the highest standards of corporate social responsibility.”As part of the Compact initiative, TAQA has agreed to adhere to ten universally accepted principles derived from various treaties including; the Universal Declaration of Human Rights, The International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work, The Rio Declaration on Environment and Development and lastly the UN Convention against corruption. Adherence to these principles ensure that businesses protect and support human rights; uphold the right to collective bargaining, eliminate forced and child labor and combat extortion and bribery. Additionally, measures must be taken to prevent further damage to the environment.The UN Global Compact does not enforce or monitor a company’s practices; rather it relies on accountability and transparency, a concept that TAQA takes pride in. Signing the pact allows companies to demonstrate leadership, share beneficial practices, increase awareness and take a stance on issues and work together to resolve them.In addition to becoming the first company in Abu Dhabi to join Compact, TAQA recently became the first company in the region to be invited to join the Combat Climate Change Initiative, a business leaders’ initiative seeking to deeply ingrain climate issues into the world of markets and trade. The company also recently partnered with Emirates Environmental Groups to offer recycling centers within schools throughout the UAE. TAQA is renowned for being a meritocratic and diverse organization offering equal opportunities to its employees around the world.- ENDS -Contact Information for Media:Allan Virtanen
TAQA Media Relations, Abu DhabiTel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqa.comAbout TAQAEstablished in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA’s power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA’s oil and gas business includes exploration and production, underground gas storage and pipeline transportation.Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. For more information about TAQA visit: www.taqa.com or Twitter: @TAQAGLOBAL

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