It is in the interest of businesses to identify themselves as being part of the solution regarding ‘climate change’.  That’s the view of Al Gore, former US Vice President and recipient of the Nobel Peace Prize.

Source: Global Brand Forum

Gore stressed that corporate social responsibility (CSR) does not mean spending money on improving the environment or society, while neglecting fiduciary, legal and profit-making responsibilities to shareholders. In fact, in an environment where consumers, employees and other stakeholders are asking what role businesses are playing in the sustainability crisis, it is in the business interests of companies to invest in being part of the solution. 

This may involve addressing the impact of business on the environment, how employees and their families are treated, and the relationship with communities where natural resources are sourced. Stakeholders are also taking a keen interest in company policies regarding ethics and values, and how decision-making processes reflect these, Gore says.

While there is still time to act in a responsible and sustainable manner, leading scientists argue the next 10 years will be crucial.

Gore highlights companies who, providing leadership in this arena, have been demonstrating concern for future generations.  General Electric and Proctor & Gamble, for example, are reviewing how they conduct business and the products they offer, while also putting pressure on the US government to make the reduction of carbon emissions a top priority. Citing the example of a business that completely eliminated the use of CFCs or chlorofluorocarbons in its operations and then charged other companies licensing fees for the new technology, Gore noted that viewing business operations through a sustainability lens can lead to innovative new techniques which produce higher quality products at a lower cost, while fulfilling sustainability objectives.

The former US Vice President made the comments at the Global Brand Forum which was recently held in Singapore.