For a concluding perspective by Prof. Dirk Matten, the official blogger of the Leaders Summit, visit his excellent blog.
CEOs believe investors are the key in creating a more sustainable global economy, according to a new study by Accenture and the UN Global Compact. The results of a survey of more than 766 CEOs found that 86% of CEOs want investors to value sustainability in their long-term investments.
“The momentum is there from both companies and investors to create a sustainable economy. In particular it is remarkable that in just four years over US$20 trillion of assets have been signed to the Principles for Responsible Investment,” said Gavin Power, deputy director of the UN Global Compact.
Since 2006 the UN-backed Principles for Responsible Investment Initiative (PRI) have been encouraging investors to integrate environmental, social and governance issues in their investments.
Download the study here: A New Era of Sustainability: UN Global Compact-Accenture CEO Study 2010
Read more about the sustainability tipping point here.
More than 1,200 corporate leaders from around the world convened today in New York City for the tenth anniversary of The UN Global Compact Leaders Summit. The two-day summit was kicked off by UN Secretary-General Ban Ki-moon and New York City Mayor Michael Bloomberg.
In his address, The Secretary General urged the business, civil society and government leaders to lead a “race to the top”, embracing openness, anchoring profit-making in social principles and favouring long-term horizons over pursuit of short-term profits.
Mayor Bloomberg – noting that he was speaking as a former CEO as well as an elected official – said that good corporate citizens recognize that support for human rights is in their enlightened self interest.
Watch the live webcast.
Read today’s complete announcement.
In advance of the Leaders Summit to be held this week in New York, the United Nations Global Compact and Accenture have released findings of a survey of over 766 CEOs around the globe – the largest research study of top executives ever conducted on sustainability.
In response to the survey, an overwhelming majority of corporate CEOs – 93 percent – say that sustainability is critical to the future success of their companies—in spite of the recent economic downturn. CEOs also believe that, within a decade, a tipping point could be reached that fully meshes sustainability with core business – its capabilities, processes and systems, and throughout global supply chains and subsidiaries.
In addition to an online survey, the study included extensive interviews with 50 of the world’s leading CEOs.
Read today’s complete announcement.
Download the entire survey here – A New Era of Sustainability: UN Global Compact-Accenture CEO Study 2010.
With just a few days until the UN Global Compact Leaders Summit 2010 convenes in New York City, registration has closed and more than 1,200 executives from nearly 100 countries are confirmed to attend this historic event. Final preparations are being made, including a number of exciting side events to take place at the Marriott Marquis Hotel in Times Square and other locations.
Already, the first two of an array of new resources have been launched – the 10th anniversary edition of the Global Compact Annual Review and the Global Compact Management Model, developed in collaboration with Deloitte.
In addition, widely acclaimed author and blogger Dirk Matten will serve as an official Summit blogger, delivering independent coverage and analysis through the highly respected Crane and Matten Blog. An expert on issues of corporate social responsibility, Professor Matten holds the Hewlett-Packard Chair in Corporate Social Responsibility and is a Professor of Strategy at the Schulich School of Business (York University, Toronto), which is ranked number one globally by the Aspen Institute for integrating issues of social and environmental stewardship into curricula and research. Dirk was recently ranked among the ‘Top 100 CSR Leaders’ globally in an independent poll by the Cambridge based think tank CSR International.
As a reminder, for those unable to participate in person, the Leaders Summit will be streamed live on the UN Webcast site and here on the Global Compact blog. You can also follow the Summit on Twitter (#GCLS2010) and Facebook.
The Global Compact has launched the UN Global Compact Management Model, which is designed to help participants align their operations and strategies with both the letter and spirit of the Global Compact’s ten universally accepted principles.
The Management Model, developed in collaboration with Deloitte, will also be highlighted as a key management tool at the upcoming Global Compact Leaders Summit on 24-25 June 2010. Deloitte is a founding signatory to the UN Global Compact.
For an in-depth overview of the model, please click here.
Read today’s complete announcement.
Georg Kell’s op-ed on the role and responsibility of business in tackling climate change ran on The New York Times/International Herald Tribune website today. It will also appear in tomorrow’s print edition of the IHT.
As a follow-up to the UN PRI/Global Compact/UNCTAD event on the role of stock exchanges in advancing responsible business practices, Marc Gunther, who moderated a good portion of the day’s discussion, published a very comprehensive summary on his blog. A critical thought:
I’m not persuaded that we can make the link between the financial crisis and the need for companies to be more responsible, more aligned with society and better governed. If there is a connection, it’s probably driven—or at least it should be—by a greater skepticism among investors, a willingness to dig deeper into risk and the understanding that neither size nor short-term performance tell you what you need to know about a company.
Mark’s point about risk is critical. There are many lessons from the crisis, of course. But obviously the prevailing risk paradigm was fundamentally flawed. And we weren’t even talking about environmental and social risks yet.
In a brief, but noteworthy article on the Wall Street Journal website (“Sustainable Success”), Prof. Lutz Kaufmann of the Otto Beisheim School of Management in Vallendar/Germany and his research team argue the case for corporate responsibility in the developing world:
A commitment to improving social and environmental conditions in the developing countries where a company operates is the key to maximizing the profits and growth of those operations.
That’s the conclusion we drew after studying more than 200 companies. As a group, the companies most engaged in social and environmental sustainability are also the most profitable.
This may not come as news to those in the CR/Sustainability field that have been making the case for years. But it stands in stark contrast to recent calls to scale back sustainability expectations in light of the recession, particularly in developing and emerging economies. We will try and get some more info on the underlying research.
This is just another reminder of the upcoming World Business Summit on Climate Change in Copenhagen (24-26 May). Time permitting, we will be doing some live-blogging and twittering (tweeting? twitting?). With now over 600 participants, this promises to be the key business event on the road to COP15. We’ll keep you posted.
The Yale Project on Climate Change and George Mason University’s Center for Climate Change Communication have released Global Warming’s Six Americas: An Audience Segmentation Analysis, the results of a comprehensive survey of climate change perceptions in the US. Key findings:
The Alarmed (18%) are fully convinced of the reality and seriousness of climate change and are already taking individual, consumer, and political action to address it. The Concerned (33%) – the largest of the six Americas – are also convinced that global warming is happening and a serious problem, but have not yet engaged the issue personally. Three other Americas – the Cautious (19%), the Disengaged (12%) and the Doubtful (11%) – represent different stages of understanding and acceptance of the problem, and none are actively involved. The final America – the Dismissive (7%) – are very sure it is not happening and are actively involved as opponents of a national effort to reduce greenhouse gas emissions.
It would be interesting to see what these figures – applying the same methodology – look like for other countries, including emerging and developing economies.
In today’s Financial Times, Jonathan Birchall and Jenny Wiggins report on the search for value in the retail industry. Will consumer expectations/demands finally shift towards a more holistic value definition that includes an environmental and social dimension?