Sustainability – the core of business strategy

The United Nations Global Compact Leaders Summit 2010 (UNGC Leaders Summit 2010), themed “Building A New Era of Sustainability” was recently held in New York City, the United States.

At the invitation of the United Nations Global Compact (UNGC), Mr Nguyen Quang Vinh, Director of the Office for Business Sustainable Development (SD4B) under the Vietnam Chamber of Commerce and Industry (VCCI) and Deputy Director of the National CBC-CSR Project, attended the summit. On the occasion, Mr Vinh is kind enough to grant an exclusive interview with Vietnam Business Forum on the results of the summit.

Could you talk about main objectives of this summit?

This summit looks into two main goals. Firstly, the summit defined that this was an important time to accelerate the practice of sustainability and corporate social responsibility to head for progressive targets of global integration, a new era of sustainability and close link of business community. Poverty reduction, environmental protection, climate change mitigation and global peacekeeping are defined as urgent tasks in the current complex time.

To achieve this goal, leaders need to consider long-term strategy, comprehensive risk management and moral business commitment.

The second goal is to create a playground for organisations and businesses to collaborate, connect and commit to building a new era of sustainability – an era where environment, social management and economic development and integration are based on relationships of social morality carrying humanitarian values.

In addition, this summit is an opportunity for 80 Global Compact Local Networks (GCLNs) to meet, update information, exchange and share operating models, experience and initiatives in performing corporate social responsibility in different countries.

What are the main topics at the summit?

The summit discussed many important issues. The first content is the Annual GCLNs Meeting. Representatives of 80 networks attended exclusive press meeting, reported and shared experience in implementing and operating local networks.

The opening session clarified and analysed efforts by businesses to look for millennium development goals, peacekeeping and human rights protection.

The first discussion session with the theme of “Setting the Sustainability Agenda” in order to determine the 10 principles of the Global Compact and issues that profoundly affect the global sustainable development. Opinions of speakers showed a special importance the Government roles, positive changes in financial markets, investment efforts for education, climate change mitigation and supply chain sustainability to set the Sustainability Agenda.

In the same discussion session, UNGC announced survey results in more than 1,000 CEOs worldwide on sustainable development. 93 percent of CEOs believe that sustainability issues will be critical to the future success of their business; 96 percent of CEOs believe that sustainability issues should be fully integrated into the strategy and operations of a company (up from 72 percent in 2007); and 91 percent of CEOs report that their company will employ new technologies (e.g., renewable energy, energy efficiency, information and communication.

The second discussion session themed “Leading the Change” specified the interlocking of 10 principles in the Global Compact in business strategy and production activities, clarified supporting viewpoints for UN’s general development matters and objectives, and connected the community through the Global Compact Networks. To lead the change, CEOs, leaders, business community and concerned parties should fulfil their commitments and clarify their implementing processes.

The third discussion part themed “Achieving Development” focused on methods to enhance the effectiveness of supports for the Millennium Development Goals (MDGs) and sustainable development goals. The business community needs to demonstrate the ability to address problems, face up with development challenges and boost potential sustainability initiatives.

Apart from main events, side events are the opportunity for leaders and delegates to share experience to link and build networks.

What are outcomes for Vietnam from this summit?

I represented GCNV to present the Annual Forum on Integrity and Transparency in Business Initiative for Vietnam (ITBI) currently deployed by SD4B-VCCI. The initiative drew special interest and appreciation of GCLNs representatives.

Through the summit, global leaders shared the message that sustainable development is the hotspot in business strategies and production activities of the business community. To capture opportunities, the business community and other stakeholders should closely connect and jointly act for the common sake of mankind development.

Thus, GCNV and SD4B-VCCI will concentrate on organising more practical activities, information, seminars and forums in the coming time to raise awareness of Vietnamese enterprises in corporate social responsibility towards sustainable development.

Businesses need to favour and raise the understanding of sustainable development and corporate social responsibility to inlay these to their business principles and visions.

What do you think about the response and participation of the international community in this matter?

This historical global summit is a great opportunity for leaders and businesses in the world to learn and share infomation. More than 1,400 leaders and ministerial officials from many countries (the United States, France, South Korea, Denmark, the United Kingdom, China, Germany, etc.), leaders of world-leading corporations and banks (Unilever, Deloitte, Nestle, Petrobras, the China Minerals & Metals Group, etc) attended the event.

This is rated an important event of the United Nations. UN Secretary General Ban Ki-moon delivered the opening remark and hosted a banquet with delegates. – VCCI

Tags: Vietnam business