Fair Trade, Finance & The Social Economy February 6 2015
As national governments struggle to resolve pressing global challenges, corporations are positioning themselves within the United Nations framework as efficient players and crucial partners in international policy debates. But with their immense economic and political sway, can corporations contribute to development discussions without the “corporate capture” of governance?
In the Worldwatch Institute’s State of the World 2014: Governing for Sustainability, contributing author Lou Pingeot, policy adviser at the Global Policy Forum, explains the need for accountability and transparency as corporations join these critical discussion.
Already, business groups—especially large multinational corporations—have become very active in post-2015 UN initiatives. And, not surprisingly, various business reports now present economic growth and a market-based approach, rather than government regulation, as univocal solutions for poverty reduction and economic development.
“Making the business case for sustainable development may be seen as a pragmatic approach,” writes Pingeot. “This begs the question, however, of what to do when necessary efforts for the public good do not constitute a good investment for the private sector.”
Read the entire article, originally published on the Worldwatch Institute blog: http://blogs.worldwatch.org/green-or-greedy-corporations-role-in-global-sustainable-development/