Private Sector and Governments Discuss Green and Inclusive Economy Ahead of Rio+20

(The Hague, 12 April 2012) – In the run-up to the United Nations Conference on Sustainable Development (Rio+20), business representatives, government officials and other stakeholders engaged in a two-day consultation in The Hague, the Netherlands. More than 300 participants discussed the theme “Realizing Inclusive and Green Growth” and how business’ strengths in innovation, adaptation and implementation can best be leveraged to facilitate the transition to a green economy. The outcomes of the discussions have been captured and will be fed into the negotiation process for Rio+20.

Organized by the government of the Netherlands, the UN Department of Economic and Social Affairs (UNDESA) and the Business Action for Sustainable Development (BASD2012), the The Hague Consultation was a major event in the Rio+20 preparatory process. It provided an opportunity to discuss and deliver constructive global private sector key messages around the role of business and its expectations of governments to the Rio+20 Conference which will be held in Rio de Janeiro, Brazil, on 20-22 June. The general consensus was that business, government and other stakeholders will need to work together and move, as Sha Zukang, United Nations Under-Secretary-General for Economic and Social Affairs, and Secretary General of the UNCSD (Rio+20), called it “from paper to implementation”.

Leading companies around the world have placed sustainability at the top of their agendas, realizing the growing significance and urgency of global environmental, social and economic challenges. Using science and technology to stimulate innovation and investment for green growth, the private sector is a catalyst for sustainable development.

“Whatever progress we have made since Rio 1992, we could not have done it without the contributions of business and industry," said Mr. Sha, who set the stage in his opening keynote address.

Sha Zukang also promoted the BASD 2012 Business Day which will take place on 19 June 2012 in Rio de Janeiro. "This event will allow for a continued frank discussion between governments, business leaders and other civil society participants," said Mr. Sha.

"Governments can play an important role by fighting barriers to sustainable investment, while businesses need to accept sustainability as a prerequisite for profitability", underlined Ben Knapen, Minister for European Affairs and International Cooperation of the Netherlands. "Without the private sector it is almost impossible to reach a sufficient scale and have a major impact. That is why the Netherlands attaches so much importance to this consultation in the lead-up to the Rio+20 Conference."

“Trade and investment are critical pillars for green growth,” said Jean-Guy Carrier, Secretary-General of the International Chamber of Commerce (ICC) and member of the BASD Steering Group, at the meeting. “Business strongly believes that the potential of open trade and investment must be harnessed to achieve the environmental and social goals of sustainable development.”

Transparency and Alignment

A special session dedicated to Transparency and Alignment brought together representatives of business, investors, stock exchanges and NGOs, to discuss and refine policy recommendations for Rio+20 on improving the quantity and quality of sustainability information provided by companies. These discussions underscore the current momentum behind increased integration of sustainability in regular
economic activity, and the broad call for measurement and disclosure of sustainability performance at all levels of economic decision-making, including at the company, product and national levels.

Clause 24 of the Rio + 20 Zero Draft Document calls for “a global policy framework requiring all listed and large private companies to consider sustainability issues and to integrate sustainability information within the reporting cycle.”

Broad support was expressed for this policy recommendation, including from a global coalition of investors and other key actors from the private sector and civil society. Participants reflected that such a policy framework should support efforts to integrate sustainability, financial, governance and management reporting and demonstrate the link between an organization’s strategy, governance and financial performance and its social, environmental and economic context. It should also build upon the work of the International Integrated Reporting Council (IIRC), which brings together the financial accounting standard setters and existing initiatives such as the Global Compact and the Global Reporting Initiative (GRI).

Participants also discussed the need for business to engage business in public private partnerships to align sustainable development themes, methodologies and indicators at the corporate and product levels and at the national and global levels and to be actively involved in the formulation of upcoming Sustainable Development Goals.

The topics of integrated reporting and public-private partnerships will be featured in-depth at the Rio+20 Corporate Sustainability Forum hosted by the UN Global Compact in cooperation with the Rio+20 Secretariat, the UN System and the Global Compact Local Network Brazil, on 15-18 June in Rio de Janeiro.

About BASD 2012
Business Action for Sustainable Development 2012 (BASD 2012) is the official United Nations Major Group coordinator of Business and Industry for the upcoming Conference on Sustainable Development (Rio+20) to be held in Rio de Janeiro on 20-22 June 2012. A coalition of leading international business organizations who are committed to sustainable development with the overall objective to enhance the conference contribution to sustainable and inclusive markets, BASD 2012 will ensure the voice of business is heard throughout the Rio+20 Process. This initiative is convened by the International Chamber of Commerce (ICC), the World Business Council for Sustainable Development (WBCSD) and the United Nations Global Compact (UNGC). A wide range of international industry associates have also joined the coalition as Partners, representing a broad cross-section of industries and geographies: International Federation of Private Water Operators (Aquafed); Air Transport Action Group (ATAG); Business Council for Sustainable Energy (BCSE); CropLife International; Cement Sustainability Initiative (CSI); Digital Energy Solutions Campaign (DESC); International Aluminum Institute (IAI); International Council of Chemical Associations (ICCA); International Council on Mining and Metals (ICMM); Global Oil & Gas Industry Association (IPIECA); World Steel Association.

Media Contacts

Peter Paul van de Wijs, WBCSD
vandewijs@wbcsd.org
+41 (0) 22 839 3141

Dawn Chardonnal, ICC
dawn.chardonnal@iccwbo.org
+ 33 (0) 1 49 53 29 07

Matthias Stausberg, UN Global Compact
stausberg@un.org
+1-917-367-3423

Saskia Gaster, Woordvoerder staatssecretaris Ben Knapen
saskia.gaster@minbuza.nl
+31651171518
+31703487510

Coen Gelinck, Woordvoerder staatssecretaris Henk Bleker
gelinck@mineleni.nl
+316 48162412