DUBAI: Dubai Electricity and Water Authority (DEWA) has won the ‘3G Championship Award for Corporate Governance’ at the Global Good Governance (3G) Awards 2024 presented by Cambridge IFA in the UK. This underlines DEWA’s global excellence in corporate governance. DEWA won the award following a comprehensive auditing process conducted by Cambridge IFA to ensure DEWA’s compliance with the highest international standards in governance.
HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, received the award at DEWA’s head office. Waleed Bin Salman, Executive Vice President of Business Development and Excellence; Ali Almuwaijei, Vice President of Governance and Compliance at DEWA, and team members of the Governance department were present.
Al Tayer said that receiving the award from Cambridge IFA in the UK reflects DEWA’s excellence in implementing best practices and innovative programmes and projects that enhance DEWA’s governance model, which is based on the four pillars of trust, accountability, transparency, and fair practices.
“In line with our commitment to the vision and directives of the wise leadership, we implement the best governance standards across all our operations within a comprehensive system of integrated corporate work that covers all activities and operations. This award recognises DEWA’s efforts and our commitment to the highest standards of excellence and good governance, as well as our keenness to implement innovative practices that drive sustainable growth and enhance the value provided to all stakeholders in the long term,” said Al Tayer.
“Good governance is a cornerstone of DEWA’s decision-making process and a main pillar in achieving globally competitive results. These awards are a testament to DEWA’s commitment to adopting the best international practices to improve its services and reach the highest levels of efficiency and reliability,” said Waleed Bin Salman, Executive Vice President of Business Development and Excellence.
DEWA’s governance framework comprises the key components of governance including 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.
