Corporate Sustainability (Prof. Dr. Aung Tun Thet)
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Transcript of Corporate Sustainability (Prof. Dr. Aung Tun Thet)
CORPORATE SUSTAINABILITY
Prof. Dr.Aung Tun Thet
Based on Mr. Georg Kell Executive Director of UN Global Compact paper
Corporate Sustainability Movement• Growing in every region of the world• Companies place responsible business
practices and sustainability objectives at heart of business strategy
Corporate Sustainability Movement• Business enterprises involved in finding
solutions to low living standards and environmental degradation
Corporate Sustainability Movement• Companies tackling world’s most pressing
problems through core businesses• Realising benefits and opportunities
Historic Opportunity
• Millennium Development Goals (MDGs) expire in 2015
• New global sustainable development framework under construction
• Define priorities and approaches for next era
• UN Member States working on set of potential Sustainable Development Goals (SDGs) to be adopted in 2015
Post-2015 Development Agenda• International business community
to elevate missions and strategies to align with post-2015 vision
• Producing outcomes that benefit global society and economy – and drive business success
UN Global Compact
• Bring private sector perspectives and action
• Creating opportunity to scale up and align business contributions to UN priorities
UN Global Compact
• Overlap between public and private interest in sustainable development increasingly clear
• Development of post-2015 agenda require unprecedented level of interplay between business, governments, civil society and other key stakeholders
Process
• Began in Rio de Janeiro in June 2012 at the UN Conference on Sustainable Development (Rio+20)
• Agreed to negotiate set of SDGs, synchronized with Post-2015 Development Agenda proposed by UN Secretary-General
Rio+20 Corporate Sustainability Forum• Organised by UN Global Compact and key
partners• 3,000 representatives from business,
investment community, UN, civil society and academia
“Innovation and Collaboration for the Future We Want”
• Business executives desire to work with governments in setting goals and targets
• SDGs - driving force to move sustainability ahead
SUSTAINABLE BUSINESS
UN Global Compact
• Input and perspectives from private sector on post-2015 agenda
• 1,000 companies committed to responsibility and sustainability
SDGs proposed by Business
Inclusive Growth
Prosperity & Equity
Human Needs & Capacities
Education Women’s Empowerment &Gender Equality
Health
Resource Triad Food & Agriculture
Water &Sanitation
Energy & Climate Change
Enabling Environment
Peace & Security
Infrastructure & Technology
Good Governance &Human Rights
Convergence
• Priorities of UN and international business community
• Range of global issues and challenges
Inclusive Growth
• Ending extreme poverty • Extending prosperity to
majority of world’s people• Achievable
Inclusive Growth
• Sustained economic growth -inclusive and equitable
• More and better jobs• Access to credit and
entrepreneurship opportunities - especially among poor
Human Needs and Capacities• Progress and unmet challenges in
core MDG areas of:• Education• Health • Advances in standing of women
and girls • All closely related to poverty
eradication
Environmental and Natural Resources
• Resource triad:1. Water and sanitation2. Energy and climate3. Agriculture and food
Environmental and Natural Resources
• Three pillars of sustainable development
• Meets basic human needs• Power sustainable economic
growth• Directly related to climate change
Enabling Environment
• Good governance • Respect for human rights• Peace and stability• Modern and green digital and
physical infrastructure
ENGAGING BUSINESSES IN SUSTAINABLE DEVELOPMENT
Post-2015 Business Engagement Architecture• Building blocks • Enhance corporate sustainability • Effective contribution to
sustainable development• Creating value for both business
and society
Corporate Sustainability
• Three dimensions1. Respecting universal principles2. Taking action to support broader
UN goals3. Engaging in partnerships and
collective action at the global and local levels
Sustainable Development Goals and Long-term Business Goals
• Businesses contribute to advancement of sustainable development goals
• Implement corporate sustainability strategies
• Advance inclusive economic growth, social equity and progress, and environmental protection
Sustainable Development Goals and Long-term Business Goals
• Contribute to:• Revenue growth• Resource productivity • Mitigation of operational, legal and
reputational risks
Transparency and Accountability
• Robust accountability measures• Make business commitments
transparent • Ensure progress real
Platforms for Action and Partnership
• Optimise and scale up corporate sustainability efforts a
• Contribute to corporate participation in broader multi-stakeholders
Platforms for Action and Partnership
• Various forums and platforms• Companies and other stakeholders
to work together – by geography, sector and/or issue
Drivers and Incentives
• “Business case” for corporate sustainability strengthened very important developments
• Strengthening of society-based drivers
• Market-based drivers
Post-2015 Business Engagement Architecture
SDGs & Long-Term Business
Goals
Transparency &
Accountability
Platforms for Action &
Partnerships
Drivers &Incentives
Corporate Sustainability
PRIVATE SUSTAINABILITY FINANCE
From managing risks to embracing new opportunities
• Financing needs of transformational post-2015 agenda require significant increases
• Address social, environmental and economic development needs
• Bulk of sustainable development finance from private sector
Private Sector
• Embedding sustainability considerations in trillions of dollars worth of investments
• Increasing impact on sustainable development
Responsible Finance
• Avoid harmful investments • “Do no harm” approach
Principle-based responsible and sustainable finance initiatives
• Examples:• UNEP Finance Initiative (UNEPFI)• UN-supported Principles for Responsible
Investment (PRI)• Principles for Sustainable Insurance• Sustainable Stock Exchanges (SSE)• Initiative and innovative approaches to
sustainable foreign direct investment
Principle-based responsible and sustainable finance initiatives
• Proactive and deliberate approach• Investment opportunities that
deliver measurable positive social or environmental results
• Development of innovative finance mechanisms
Principle-based responsible and sustainable finance initiatives
• Responsible and Impactful Private Finance critical to create long-term value for business and society
• Gaining global attention throughout investment value chain
Private Sustainability Finance
• Key driver of sustainable development
• USD trillion range in coming years
A BETTER FUTURE FOR ALL
Delivering a better future for all• Action by all• Governments• Corporations• Citizens• Consumers• Workers• Investors • Educators
Business
• Heart of improvements in living standards• Markets essential for creating and
diffusing solutions that drive needed changes
Corporate Sustainability
• Transformative force• Achieving shared, secure and
sustainable future