World leaders will convene on 20-22 June 2012 at the UN Conference on Sustainable Development – known as Rio+20 – to build consensus on a more sustainable course for our world. Today, over one billion people lack access to food, electricity or safe drinking water. Most of the world’s ecosystems are in decline. Climate change and global population growth are predicted to exacerbate these challenges. There has never been greater urgency to secure a better environmental, economic and social future for all.
The private sector has a critical role to play in this endeavour, and is increasingly putting sustainability – defined as a company’s delivery of long-term value in financial, social, environmental and ethical terms – on its agenda. Through the UN Global Compact alone, over 6,000 companies have committed to conduct business in line with human rights, labour, environment, and anti-corruption principles.
Progressive and promising work is underway. Already, innovative business solutions are having an impact on issues such as energy access, water security and carbon emissions. But to have a truly transformative effect, a quantum leap is needed. With the right incentives and enabling environments, the private sector can make significant and lasting contributions to the sustainable development agenda – in Rio and beyond.
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