Welcome to the MISUM Practitioner Seminar with Louise Brown, Principal Consultant Sustainability Advisory Services at DNV GL, September 24, 12.00-14.00 in Sal Torsten.
Presenter: Louise Brown (MSc, Post-grad Dipl.) Co-author of the report, Principal Consultant Sustainability Assessment at DNV GL Business Assurance Sweden.
At the turn of the millennium, CSR was closely linked to philanthropy and sponsorship. Today, we talk about sustainability, and an increasing number of boards are now starting to realize that sustainability is about core business and increased margins.
The most well-established initiative for sustainable business globally today, the UN Global Compact, was launched 15 years ago. Currently some 8,000 companies and 2,000 financial institutions have signed up. This is still a marginal portion of business world-wide, however collectively it corresponds to 1,8 per cent of the global economy and 3,7 per cent of all employees in the private sector. There are now participants in the Global Compact in 80 countries.
How have business and companies been impacted by this and other sustainability initiatives? What kind of changes in corporate strategies and conduct can be identified, and what does it do to profitability?
As an independent party, DNV GL has been selected do carry out the most comprehensive assessment in history of the change within sustainability brought about through the UN Global Compact, from corporate level to the global public mindset at large.
The assessment is based on interviews with over 150 corporate leaders, experts and academics from all over the world, from Paul Polman, CEO at Unilever, to the head of Siemens Integrity Program, which was launched following its multimillion-dollar fine for corruption in 2009. Specifically for this project, a framework for assessing change within sustainability has been developed and verified by Harvard Business School and other academic institutions.
Perhaps more importantly, the project has developed recommendations for the UN Global Compact to tackle challenges ahead in the coming 15 years – recommendations for how companies need to act in a context where sustainability is mainstream and shareholders and investors request transparency and responsibility.
The trends are clear. In our presentation we will share insights from our findings and conclusions, placed within a perspective of the key challenges companies face today, expectations from the market tomorrow and what the way towards a sustainable and inclusive global economy needs to look like.