Most multinationals, no matter their field of activity, express to adhere to the principle of sustainable development. This means that they aim at carrying out their business by meeting the needs of the present without compromising the ability of future generations to meet their own needs (as defined by the Brundtland Commission).
Sustainable development has become a buzz word that was launched by international organizations and governments, after which it has been adopted by the community at large. It covers economic development; social development; environmental preservation and, according to certain groups, cultural diversity. These four pillars are inter-connected and cannot be considered as independent issues.
As can be concluded from the above, adhering to sustainable development is highly ambitious, but at the same time, crucial and obligatory. Though the pillar of economic development has been put forward for many years as the answer to a better world, social development and cultural diversity gain in importance. Due to the alarming news on climate change and the visible effects thereof, nature preservation is at present also put high on the agenda which will only increase in time.
Governments have to take the lead by creating awareness on the pillars of sustainable development at national level and create an infrastructure and policies favorable to this concept. Also, they should encourage investments in sustainable development and provide incentives and subsidies. Moreover, they should increase the importance of this topic on the international agenda.
The private sector can introduce sustainable development when investing in research and development as well as new products and services. It can also include this concept when designing and implementing innovative business models. Enterprises have become more and more sensitive to having a good reputation and brand whereby sustainable development is key.
Despite the open support and attention enterprises put on sustainable development issues, what is the real impact that is made; how many enterprises truly implement this concept in its full length and are some countries or regions in the world more sensitive to sustainable development than other? Concerning the public sector, do governments have access to the required information to carry out their tasks related to sustainable development; is there a public-private sector dialogue; is there a policy plan on sustainable development?
These are issues the Gryphon Foundation focuses on through the implementation of projects and the organization of awareness raising events. Our aim is to partner with Governments and with private enterprises that have adhered to sustainable development and who agree to share their experiences and best practices with other parties. Also, cooperation is set up with international organizations, NGOs and research institutions that are knowledgeable about the different aspects of sustainable development.
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