Interview: Badr Jafar, CEO, Crescent Enterprises
What initiatives are positioning Sharjah as a leader in manufacturing, logistics and green technology?
BADR JAFAR: Sharjah’s industrial infrastructure serves as a solid foundation for manufacturing, logistics and green technology. This is complemented by the emirate’s commitment to nurturing a knowledgeable and skilled workforce, which is essential to driving innovation and sustaining growth in these areas. Furthermore, academic institutions like the American University of Sharjah and the University of Sharjah are a pivotal element in enabling a culture of innovation and entrepreneurship. These educational centres support the development of innovative solutions, particularly in sustainability and technology. The synergy between academia and industry fosters research and development, leading to advancements in key strategic sectors.
Additionally, public-private partnerships in Sharjah have facilitated infrastructure improvements, particularly in port facilities, which are essential for manufacturing and logistics. These collaborations have helped mobilise resources, mitigate risks and enhance efficiencies in large-scale projects. Sharjah’s investment in free trade zones has also attracted investors by offering favourable business conditions, such as tax exemptions, quality facilities and streamlined procedures.
How can businesses and investors contribute to adopting sustainable and green technologies?
JAFAR: Businesses and investors in Sharjah actively spearhead innovative initiatives that align with environmental sustainability. This includes investing in renewable energy projects, supporting sustainable agricultural practices and developing green manufacturing processes. Such actions set a precedent for corporate responsibility in environmental stewardship.
The need to strengthen green infrastructure is evident in areas like renewable energy production, sustainable transportation and eco-friendly construction. Collaboration between the public and private sectors is key, with government policies incentivising green investment and private entities enhancing innovation.
The COP28 UN Conference on Climate Change, held in the UAE in late 2023, is important in this context. As a global summit, the inaugural COP28 Business & Philanthropy Climate Forum provided a unique opportunity for Sharjah’s businesses and investors to engage with their international counterparts. The platform facilitated knowledge transfer, introduced new green technologies and provided access to global best practices.
In what ways can socially responsible business practices and philanthropy influence investment?
JAFAR: When businesses adopt environmental, social and governance (ESG) practices, they gain access to a broader range of investment opportunities, especially as investors become increasingly conscious of their societal and environmental impact. This reflects a growing recognition that financial returns are not the sole metric of business success; social value and environmental impact are also important.
The adoption of ESG practices represents both a moral imperative and a strategic business decision. Companies that align with these practices will experience enhanced brand reputation, increased customer loyalty and improved employee engagement. This alignment appeals to socially conscious consumers and attracts talent who want to work for firms that reflect their values. The perceived conflict between ESG priorities, philanthropy and profit-maximising responsibilities is diminishing as long-term value creation aligns financial returns with social and environmental imperatives.
Philanthropy is complementary to socially responsible business practices, and plays an important role in shaping investment opportunities. Strategic philanthropy involves investing in initiatives that yield social and environmental dividends and support the development of innovative solutions to societal problems, which, in turn, can open new markets and investment opportunities.
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