Expert: collaboration boosts sustainability

Updated: 2015-06-26 14:13

By Paul Welitzkin in New York(China Daily USA)

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As the United Nations Global Compact - the world's largest corporate sustainability initiative - celebrated its 15th anniversary on Thursday, the chairman of China's Global Compact Network called for more collaboration, innovation and action among the public and private sectors.

Fu Chengyu told an audience at the UN in New York that the Global Compact China Network is now the second-largest local area network in Asia for the sustainability initiative.

"The UNGC has opened up new avenues of governance by facilitating cooperation among business, government and the public," Fu said. "Government, business and the public must work together, and only through partnerships can we have the greatest impact."

Global Compact China Network was launched in 2011 in Beijing as a platform for Chinese participants in the UN Global Compact. The China Network was established with the aim of mobilizing more companies in China to participate in the Global Compact and is devoted to advancing the UN Global Compact principles and to strengthen cooperation between Chinese and foreign companies.

In addition to heading up the China's Compact Network, Fu is also the chairman of China Petroleum and Chemical Corp, or Sinopec, which is Asia's biggest oil refiner.

The United Nations Global Compact was started in 2000 as a call to business to align strategies and operations with principles on human rights, labor, environment and anti-corruption, and take actions that advance societal goals.

An independent report - Impact: Transforming Business, Changing the World - on the UN Global Compact prepared by international risk assessment company DNV GL presented recommendations to accelerate progress towards more sustainable future to the UN.

"Over the past 15 years, companies around the world have been awakening to their role in society and starting to make important strides to operate more responsibly and innovate for a greener and more sustainable future," said Georg Kell, outgoing UN Global Compact Executive Director. "The idea that sustainability is necessary for success is becoming apparent now to many companies."

The report found that sustainability has greater acceptance in the business world. Companies that have joined the UN compact as signatories represent 25 percent of the world's companies.

Henrik Madsen, president and CEO of DNV GL, said sustainability now includes " more topics like climate change and equality than when we discussed sustainability 15 years ago".

Madsen said business is moving away from the view that said regulation is bad. "Business is starting to promote smart regulation," he added.

Madsen said the financial sector has responded to the call for more sustainability by embracing responsible investment, which has attracted $45 billion so far.

Madsen said even oil companies are recognizing that sustainability can have a role in their organizations.

UN Secretary-General Ban Ki-moon said the compact offers everyone a tremendous opportunity. "Sustainable development is not charity. It is a smart investment. We can become the first generation to erase poverty from the planet," he said.

paulwelitzkin@chinadailyusa.com

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