Business organisations cause catastrophic environmental damage - UN
official
The damage caused to the environment by business organisations across
the globe is catastrophic and results in a magnitude of environmental
disasters. If no remedial action is taken there would be major
environmental repercussions across the globe, a United Nations official
warned.
President, UN Global Compact, Indonesia, Y.W. Junardy said it was
business entities that provide employment and boost the economy of a
country that destroy the environment regardless of its negative
consequences.
Junardy was addressing the launch of ‘A Preparer’s Guide to
Integrated Corporate Reporting’ by the Institute of Chartered
Accountants of Sri Lanka recently. He said several programs have been
drawn up by United Nations Global Compact, a United Nations initiative
to encourage businesses across the world to adopt sustainable policies
and report on its implementation. UN Global Compact is a principle-based
framework for businesses focusing on ten principles in human rights,
labour, the environment and anti-corruption which is a huge obstacle for
businesses to build brands and expand. “The initiatives comprise areas
such as women in power, water management and Sustainable Stock
Exchange(SSE) which securities and exchange commissions consider as
vital in developing capital markets and ensuring its integrity,” he
said.
The Sustainable Stock Exchange initiative is a UN project which
provides a multi-stakeholder learning platform for stock exchanges,
investors, regulators and companies to adopt best practices in promoting
corporate sustainability. In co-operation with investors, regulators and
companies, they strive to encourage sustainable investment.
Junardy said UNG Compact is focused on Sustainable Development Goals
(SDG) in defining its broader areas with the approach of the deadline
for the Millennium Development Goals (MDG) this year. SDGs are a new,
universal set of goals, targets and indicators that UN member states
will be expected to use to frame its agendas and political policies over
the next 15 years.
The SDGs follow and expand on the millennium Development Goals (MDGs),
which were agreed by Governments in 2000, and are due to expire at the
end of this year. The MDGs of reducing poverty and hunger, achieving
universal education, promoting gender equality, reducing child and
maternal deaths, combating HIV, malaria and other diseases, ensuring
environmental sustainability and developing global partnerships failed
to consider the root causes of poverty or gender inequality or the
holistic nature of development.
- LF
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