Business and Industry

Links:

Business Council for Sustainable Development The Business Roundtable Sustainable Business Network Business Charter for Sustainable Development CERES Principles

For the business enterprise, sustainable development means adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining and enhancing the human and natural resources that will be needed in the future.

From IISD's Business Strategy for Sustainable Development...

Business Council of Australia

The Business Council believes that sustained economic growth is fundamental to the future well-being of all Australians.

Such growth should take place within a policy framework which maximises the well-being of Australians in the broadest possible sense. This means that the aspirations of most Australians for higher living standards have to be pursued within the wider context of ensuring that the distribution of wealth is equitable and of honouring our obligation to leave the environment to our children in the best possible condition.

Environmental concerns should therefore, be integrated into economic decision-making and policy, which in turn has to be focussed on improved international competitiveness. We must also bear in mind that environmental protection can be maximised if the citizens of a country are prosperous.

A Workable Balance

The World Commission on Environment and Development describes sustainable development as "an approach to progress that meets the needs of the present without compromising the ability of future generations to meet their own needs." The Business Council endorses this description while emphasising the importance of economic growth as itself the source of high environmental standards. There is irrefutable evidence around the world that poverty and economic stagnation is a major source of environmental degradation.

Our overriding concern in Australia must be to maintain economic growth if Australians are to enjoy higher standards of living. Economic growth is the only source of improved community services and benefits. Growth is also the source of resources to improve the quality of life in Australia &emdash;including protecting our environment. The resources that we, as a community, will be able to devote in future to improving or conserving our environment will be related to the degree that we are able to go on providing growth.

It is possible to maintain growth while ensuring environmental protection provided it is understood that they are genuinely inter-connected and that we must make decisions which reflect the search for a workable balance. Of course, to sustain long-term growth, prudent resource management is required. Accordingly, we need to continue to exercise care in our resource management and in the maintenance of environmental standards, while playing a responsible part in global environmental strategies.

The Challenge of Change

Finding a workable balance requires:

• a continued commitment to growth. Opting for a no growth, stagnant society would be irresponsible both in economic and environmental terms. Poor or declining countries have the worst record in exploitation of resources&emdash; human and environmental.
• optimal use of new technology, which history has consistently shown provides the best hope of imaginative solutions to problems once they are identified and the commitment is made to solve them. An economic climate which fosters innovation is critical.
• flexible responses. Both economic development and environmental protection require that we constantly assess and reassess opportunities and problems.
• a commitment to genuine integration of development and conservation concerns. Such integration requires acceptance of the long time horizons involved and the encouragement of rational dialogue and problem solving.

Promoting the Relationship Between Growth and Environment

To foster a better understanding of the positive relationship between economic growth and environmental protection the Business Council is preparing a discussion paper which examines the concept of sustainable development from the perspective of business. The paper will place particular emphasis on marketbased incentives which can be employed to resolve intractable problems.

The Business Council accepts fully the need for business to conduct its operations in an environmentally sensitive manner.

Good Business Practice

The Council believes business has both a duty and an incentive to contribute to high environmental standards&emdash; including the duties to:

• assess the potential environmental impact of new activities through effective front-end planning;
• ensure effective environmental management and control measures and emergency response plans;
• implement reclamation systems as part of the life-cycle management of industrial activities; and
• provide the scientific, technical and economic data to substantiate environmentally sound decisions.

Council believes vigorous self-regulation by industry associations should be encouraged&emdash;so that chronic offenders do not cause penalties or difficulties for those who follow the rules. Business should assist in educating the public on the relative cost and technology effectiveness of alternative environmental protection measures, and be prepared to consult with Governments and appropriate interested parties to deal with local community issues.

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