By : Bakinam Khaled
Dubai Electricity and Water Authority (DEWA) has been awarded the BS 13500 ‘Code of Practice for Effective Governance’ certification and a special award for the sixth consecutive year. This is for its efforts in applying the best good-governance standards within the BSI 13500:2013 and its success in maintaining its position as one of the leading entities for this in the world. DEWA received the certification after a thorough auditing process by the British Standards Institute (BSI) in key governance areas such as Human Resources, Information Technology, Risk Management, Legal Affairs, Finance and Procurement activities.
After receiving the certificate, HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted that this new global recognition underlines DEWA’s successful model of good governance. This has become a role model for entities worldwide for keeping pace with rapid global changes, achieving the best results and global achievements, and supporting sustainability and resilience in business agility. It also adds to DEWA’s track record of achievements. It supports the business sector and enhances strategic partnerships between the public and private sectors. It encourages innovation and creativity, and promotes Dubai’s position as a global platform for attracting global investments.
“DEWA follows the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and is committed to applying the best good governance, compliance and transparency standards in all its operations. As a result, DEWA has become one of the leading utilities in governance worldwide. This has promoted its efficiency and productivity. DEWA has a comprehensive plan for governance and compliance. It takes into consideration changes that could impact the energy and water sectors locally, regionally, and globally. It also benefits from rising opportunities to promote its position in adopting the best practices and creating new opportunities. As part of the great importance it attaches to sustainability issues, DEWA’s approach in this area includes strong policies and programmes to manage Environmental, Social and Corporate Governance (ESG). DEWA has a board-level ESG Committee of specialists dedicated to achieving the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of the total power capacity from clean energy sources by 2050,” said Al Tayer.
“Implementing effective governance practices has helped DEWA achieve global competitive results that outperform leading European and American utilities. DEWA recorded 3.3% losses in its electricity transmission and distribution, and its water losses decreased to 5.3% compared to 6-7% and 15% recorded in Europe and North America respectively in 2021. Effective implementation of good governance has contributed to the success of the Independent Power & Water Producer IPWP model used by DEWA. It helps to ensure transparency, accountability, and rule of law to enhance investor confidence and develop an attractive regulatory, supervisory and legislative environment,” added Al Tayer.
“DEWA is one of the first organisations in the UAE to inaugurate Subsidiary Governance Framework, which aligns all the activities, operations, and practices of DEWA’s subsidiaries to the highest standards of effective governance. It also aligns with DEWA’s governance framework, which is certified by BSI 13500 Management of Governance. These subsidiaries include Empower, the world's largest district cooling services operator by connected capacity. DEWA is the majority owner of Empower. This is in addition to Mai Dubai, the leading bottled water company, and the Etihad Energy Services Company (Etihad ESCO)” said Eng. Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA.
“DEWA promotes a culture of self-governance across all divisions. It implements best practices in effective governance, based on an integrated framework that covers all our activities and operations. DEWA follows the Organisation for Economic Co-operation and Development (OECD) guidelines on Corporate Governance for State Owned Enterprises, World Bank guidelines, and other international standards. DEWA’s governance model is based on the four pillars of Trust, Accountability, Transparency, and Fair Practices. DEWA provides the best training programmes and capabilities to its Governance & Compliance Champions to perform their responsibilities to the fullest and apply the highest standards of good governance and compliance in all its operations” said Ali Al Muwaijei, Vice President of Governance, Compliance and Agility at DEWA.
