As discussed during EITSC’s recent Advocacy Forum on Sustainable Development in Manila, it is essential that business thinks in terms of the 3 Ps: profit, planet and people.
Translated into action it means that business has to make profits but – at the same time – focus on equitable and inclusive development. The new reality is that businesses need to do good and not just look good, they need to define a higher purpose beyond just profits. They must drive social change.
I would like to quote Harvard Professor Dani Rodrik who said the other day: ‘The world economy must again serve the people and not vice versa’.
He added: ‘The world economy has lost its anchor as we subordinate the goals of full employment and fair income distribution (or inclusive growth) more and more to the needs of large investors; we need to regain flexibility in achieving the economic and social targets’.
It’s good to see that quite a number of organizations in the Philippines have recently advertised their activities in sustainability. Let me quote a few:
PEPSI-COLA Products Philippines Inc. (PCPPI) has released its first-ever sustainability report highlighting how the company deals with depleting resources and a worsening environmental situation. The sustainability report was released a year ahead of the SEC requirements.
Marriott International announced its partnership with ‘Save the Children Philippines’. ‘Save the Children’ works hard to help children gain access to quality education and health services, support them in times of great need, and protect them from risks and harm, and ensure that children, especially those living in poor communities, have access to quality basic services and have their rights protected.
Sitel Philippines has partnered with Project Red Ribbon Care Management Foundation Inc., an HIV advocacy organization, to help spread HIV advocacy and improve the quality of life of people living with HIV.
Ayala Foundation and Microsoft launch ‘CodeIT’ for students. The initiative aims to provide underserved Filipino youth access to technology and computer science training, in order to equip them with the right skills and prepare them for the workplace of tomorrow.
Bank of the Philippine Islands (BPI) is the first and largest Sustainable Energy Financing (SEF) organization. BPI’s dedicated SEF team is in close touch with Renewable Energy and Energy Efficiency projects in the Philippines.
International Container Terminal Services Inc. (ICTSI) is involved in sustainable development projects around the world. One project in the Philippines: ICTSI rolled out an employee rewards program by raffling off new houses and lot units to qualified employees of its flagship, Manila International Container Terminal.
I am fully aware that this list is only a drop on a hot stone. As we in EITSC will continue our mission to promote sustainability and inclusive growth, this is to encourage you to inform us about your sustainability activities. Please send your information to Henry Schumacher at schumacher@eitsc.com