Sustainability development—inclusive growth—zero exclusion

IWAS pleased to note that United Nations Conference on Trade and Development recognized the Philippine Securities and Exchange Commission for promoting best practices in sustainability and reporting on the Sustainable Development Goals (SDGs). UNCTAD presented the ISAR Honors to the SEC, particularly for the issuance of the Sustainability Reporting Guidelines for publicly listed companies.

This reminds me of various discussions we have had to support efforts on enhancing the quality and comparability of companies’ reporting on sustainability issues. But the main issue remains: implementation, with focus on the 3Zeros:

Zero exclusion—because the vulnerability of marginalized populations can be reduced through the promotion of inclusive institutions, governance mechanisms, policies and concrete actions;

Zero carbon—because we want to pass on to our children an economy that respects natural balances, an ecologically sound development model and a global governance of the common good; and

Zero poverty—because poverty is an intolerable waste of talent and the reproduction of poverty from generation to generation is not inevitable.

The 3Zeros are promoted by the 3Zero Global Alliance as new approaches to contemporary challenges, with the aim to radically reshape the way individuals, businesses and communities live, work and interact.

While it is good to see that quite a number of companies have responded to the call for sustainability both in terms of changing their business model to address natural resource consumption, raw material selection, product/packaging design and addressing the needs of the poor and hungry, and those affected by natural calamities, much still needs to be done to widen the approach.

Central and local governments, both Houses of Congress, business, civil society, communities and individuals have to find ways in conferences, focus group discussions and campaigns to convince everyone that he or she is held accountable for their responsibilities to make a better world for present and future generations. This objective is of great interest to the European Innovation Technology and Science Center Foundation Inc. (EITSC) also, given our focus on sustainable development and inclusive growth, addressing the needs of poor communities close to the operations of business across the country.

In this context I would like to add that Gawad Kalinga, being a partner of the 3Zero Global Alliance mentioned above, is present in almost every province in the country, engaging 10,000 barangays in over 3,500 communities and affecting 350,000 families. GK has more than 4,000 volunteers on the ground, going where help is needed the most. In its promise to leave no one behind, GK does not hesitate to enter some of the most troubled and war-torn areas. GK communities are known to be zones of peace, and GK has successfully transformed slums into peaceful and productive communities. In other words, GK can become an ideal partner of businesses that wish to help poor communities. That cooperation would be ideal to jointly implement sustainable development as called for by the UN and as encouraged by the SEC in their Sustainable Reporting Guidelines.

Allow me to highlight some areas of “sustainable development” the SEC is looking at:

Direct economic value generated and distributed Resource management

Environmental impact management

Supply chain management

Relationship with community.

In closing, let me go back to a strategy that makes sustainable development a competitive advantage. Research data suggest that some companies are creating real strategic advantage by adopting sustainability measures that their competitors can’t easily match. I hope that many Philippine PLCs accept that challenge!

Feedback is invited; e-mail me at Schumacher@eitsc.com