Parallel and Side Events Contents Page

Text courtesy of Earth Negotiations Bulletin
Business Day Lekgotla

Presented by Business Action for Sustainable Development (BASD)At this event, business leaders, NGOs, and government officials addressed the links between business and sustainable development, including: sustainable natural resource use; markets and globalization; sustainable investment and development; and accountability and transparency.Phillip Watts, World Business Council on Sustainable Development (WBCSD), noted that the participation of UN Secretary-General Kofi Annan at the event reflected his understanding of business' role in making sustainable development real. He noted the increase in business's involvement since Rio, and announced the release of BASD's "Walking the Talk," a compendium of case studies that demonstrate positive results.Kofi Annan, UN Secretary-General, underscored that the corporate sector is key to sustainable development, as it has the required technology, financing and management. He noted that answers to social, economic and environmental problems could be found through cooperation among businesses, governments, civil society, unions and other stakeholders, and underscored that businesses must address these problems effectively to sustain profits. Annan stated that value-based management is at the core of the Global Compact, a dialogue that promotes institutional learning and good practices. He noted the need for Global Compact companies to increase investment in least-developed countries. Annan expressed support for the Global Reporting Initiative, and noted the Summit's importance in advancing business's role in sustainable development.Barry Davison, South African Chamber of Mines, noted HIV-Aids' threat to sustainability, highlighting the number of orphans and infected 25-40-year-olds in Southern Africa. Davison stressed that the disease affects productivity, income generation and the sustainability of industries. He called for education, improvement of social and economic conditions, and for drug companies and aid agencies to contribute to the provision of life-extending drugs.Anne Lauvergeon, AREVA, stressed that industry needs to use reliable, comparable and verifiable indicators when reporting. Judy Henderson, Global Reporting Initiative, announced the availability of the 2002 Sustainability Reporting Guidelines. She stressed that investors increasingly demand reporting on a full range of corporate activities, and predicted that sustainability reporting, on a mandatory or voluntary basis, will become as important as accurate financial reporting.Claude Martin, WWF, described the challenges of establishing the Forest Stewardship and Marine Stewardship Councils, and anticipated launching a new labelling programme for carbon.Mervyn King, Institute of Directors in South Africa, emphasised the need for local communities to help govern companies operating in them, and for businesses to adopt ethically and environmentally-sound practices. He explained that Enron had a social responsibility programme but poor internal governance.Josien Sluijs, WBCSD/Young Managers' Team, described the organisation's new programme for 25-35-year-old managers, and its dedication to sustainable development.Documents:

• The Johannesburg Business Pledge for Action and The Business Conclusion.