Call for sustainability and stakeholder capitalism
17 industry-leading companies and organizations have come together at the SDG Tent in Davos during the World Economic Forum to put an unprecedented focus on sustainability, stakeholder capitalism and actions to achieve the UN Sustainable Development Goals (SDGs).
Statements
Andre Hoffmann, President of InTent and Vice Chairman of Roche Holding Ltd
“Capitalism has failed because of its focus on short-term profitability and performance. Companies need to be measured not just on their finances, but on how they use their resources to serve their community. If you are a leader, you need to ask yourself: How are your stakeholders, not just your shareholders, being served by what you are doing?"
Peter Bakker, President and CEO of WBCSD
“Capitalism itself is not the challenge. The conversation needs to focus on how we redirect capitalism to truly accelerate the required transformations now. The fix is the relatively simple Triangle of Stakeholder Capitalism: Science-Based Targets (SBTs), Task Force on Climate-related Financial Disclosures (TCFD) and Environmental, Social and Governance (ESG) information. Simple accounting rules around meaningful ESG indicators – driving the risk assessment, strategic scenario building and management decision-making like TCFD is doing – towards the delivery of the science-based targets, will make Capitalism drive us towards the sustainable world that will serve all people and protect our planet.”
Feike Sijbesma, CEO and Chairman of the Managing Board of DSM
“People talk of the elite who gather in Davos, but the true elite are the ones who take responsibility. That means focusing on the long-term, not the short term. We cannot be successful or dare to call ourselves successful if we live in a world that fails.”
Svein Tore Holsether, President and CEO, Yara International
“Food plays a critical role in the fight against climate change – We cannot solve the climate crisis without transforming the food system. The SDG tent is evidence of a collective responsibility, exercised by food value chain players to drive a fundamental change in the way we grow and share food to nourish 10 billion people on our finite planet. With only a decade left to achieve the SDGs, urgent action is imperative."
About the SDG Tent
The SDG Tent at Davos is an impartial and open space where ideas, thought leadership and unhindered dialogue can flourish and progress the global debate around the role of business and its capacity to deliver sustainable and inclusive development. For the second year in a row, the SDG Tent acts as one, single platform and meeting point for companies and organisations to accelerate change towards achieving the SDGs during the World Economic Forum’s Annual Meeting in Davos. All events can be found on www.businessforsdgs.com.