By Celsias Team
Posted on July 28, 2010. Listed in:
What are the links between business and development? And what is the business role and opportunity in addressing sustainability challenges of developing countries and emerging economies? The World Business Council for Sustainable Development (WBCSD) has addressed these questions and popped the answers in this report.
The WBCSD is a chief executive-led global association with around 200 companies, dealing exclusively with business and sustainable development.
In this report, the WBCSD has drawn on a decade’s worth of their experience, in areas like thought leadership and practical experience in promoting business solutions to sustainability issues in the developing world.
The WBCSD first coined the term "Inclusive Business" to describe profitable business models that reduce poverty and generate sustainable livelihoods.
The scope of WBCSD's work was then broadened towards addressing the business role in improving the living standards of the growing and increasingly affluent populations of the developing world in a sustainable way.
As the report highlights, enhancing energy and resource efficiency, and finding new ways of sustainability meeting the rising demand for food, healthcare, shelter, energy, mobility, water, sanitation and communication are defining challenges.
Business is a key source of sustainable solutions for a transition to a more inclusive, low-carbon and resource efficient economy.
“The transition to low-carbon growth in developing countries represents a massive opportunity for companies that succeed in bringing together the investment, technology development and human capacity needed to manage this challenge, “ says the report.
“Enhancing energy and resource efficiency, and finding new ways of meeting human needs for mobility, water and sanitation, buildings, energy and communication are the defining challenges for businesses in both developing and developed economies.”
The WBCSD believes that development cannot be sustainable, nor can poverty be alleviated, without business engagement. However, good governance, economic incentives and appropriate and robust legal and institutional framework conditions are essential for business to play a meaningful role.
"We trust that this report will encourage business leaders to further strengthen their contribution to development by creating innovative products, services and business models,” says president of WBCSD, Björn Stigson. “We also hope it will stimulate partners in government and civil society to work with business in improving living standards in developing countries while preserving our ecosystems."
In a nutshell, the report seeks to:
- help define the business role in a broadening development agenda;
- engage business by creating awareness of the growing business opportunities and contributions to development;
- call on governments to create the necessary framework conditions for business to maximize its contribution to development,
- and extend an invitation to other stakeholders to partner with business in the common quest for a more inclusive and sustainable future.
You can download the report here.
