DEWA organises joint workshop with Siemens on governance and compliance
DEWA presented its approach in good and effective governance and compliance with the highest global standards as well as the impact of data privacy on the workflow
Dubai Electricity and Water Authority (DEWA) has organised a joint workshop with Siemens on governance and compliance in Munich, Germany. The workshop is part of DEWA’s efforts to enhance partnerships and exchange best practices and experiences with major global companies. Ali Almuwaijei, Vice President of Governance & Compliance at DEWA and Martina Maier, Chief Compliance Officer at Siemens AG attended the workshop, along with officials and employees representing both parties.
DEWA presented its approach in good and effective governance and compliance with the highest global standards as well as the impact of data privacy on the workflow. Siemens reviewed its strategy in different aspects of governance, internal controls, corporate compliance and applying the highest global compliance standards.
“DEWA adopts clear procedures, policies, and strategies to ensure good governance practices, and complies with the regulations and laws governing its work according to the highest standards, and best practices of governance, accountability, transparency and trust, which supports its efforts in achieving sustainability and agility of doing business. This comes in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to ensure the UAE ranks first in all fields. DEWA’s comprehensive plan for compliance and good governance takes into consideration our ability to adapt to changes that affect the local, regional and global energy sector, and utilise the relevant opportunities. This promotes DEWA’s global leading position in adopting the world’s best practices and creating new opportunities in the energy sector,” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
“DEWA operates according to the World Bank’s best practices for electricity and water suppliers around the world, which includes following a comprehensive governance framework and implementing a governance policy and charter. This has resulted in maintaining the UAE’s first global ranking, represented by DEWA, for the third consecutive year in all Getting Electricity indicators in the World Bank’s Doing Business 2020 report. In July, DEWA was awarded the British Governance Standard (BSi 13500) Certification, becoming the first organisation in the GCC region to receive it in 2019, for the third year in a row. When DEWA fulfilled the requirements for the British Standard (BS 13500:2013) Code for Practice for Delivering Effective Governance in 2018, it was the first utility in the world to implement this global standard,” added Al Tayer.
Al Tayer pointed that DEWA’s governance framework comprises the classic components of governance such as board oversight, a clear organisation chart and span of control, a well-documented strategy, and proper delegation of financial and administrative authorities. There is also a full suite of management level committees and comprehensive policies covering all functions, including a Code of Conduct and Ethics and an Employee Handbook; which disseminate good governance within DEWA. DEWA adopts the three lines of defence model, with management and supervision being the first line; risk, compliance, legal, and governance being the second line and internal audit as the third line. DEWA also launched the Governance and Compliance Ambassador Programme, which draws upon the best talent in DEWA in governance and compliance. The Ambassadors spread the word and spirit of good governance and compliance across DEWA.
“Our long-term partnership with DEWA extends beyond supplying energy, and this collaboration on compliance and governance is a testament to our deep relationship,” said Dietmar Siersdorfer, CEO, Siemens Middle East and UAE. “The workshop in Munich was an opportunity for DEWA and Siemens to learn how governance and compliance matters are handled by our respective organisations, and to share best practices in these areas.”
DEWA has won the Global Good Governance Excellence in Corporate Governance Award 2019, and Global Good Governance Best Corporate Governance Reporting Award 2019 from Cambridge IFA in the UK. DEWA has also won the World Finance Corporate Governance Award 2018 in the UAE, presented by World Finance, London. DEWA was the only organisation in the UAE, to win this global governance assessment among major companies around the world.