Oslo Business for Peace Award

THE GLOBAL EDITION OF THE NEW YORK TIMES ADVERTISING SUPPLEMENT MONDAY,MAY 27, 2013 | I Oslo Business for Peace Award The Business for Peace Foundation is committed to of society’s trust ‘‘businessworthiness.’’ This year’s contribution to improving the communities in which building trust between the business community and Honourees were presented with their awards during the they work. They lead by example, and, through their society. Each year the foundation’s independent award Business for Peace Summit in Oslo on May 14, which examples, the Business for Peace Foundation hopes to committee, comprised of Nobel Prize winners, honors a included a thought-provoking round-table discussion, at encourage other business leaders to embrace group of entrepreneurs who are committed to Oslo City Hall, where the Nobel Peace Prize ceremony is businessworthiness. sustainability and to ethical practice with the Oslo held each December. To learn more about the Business for Peace Business for Peace Awards. The Norway-based foundation The Honourees come from different countries and Foundation and the award, visit the Web site at calls such genuine, honest commitment to being worthy have very different backgrounds, but each has made a www.businessforpeace.com. PER OSCAR SKJELLNAN / BUSINESS FOR PEACE The 2013 Business for Peace Honourees at the award ceremony on May 14 in Oslo City Hall, from left to right in the front row: Arif Masood Naqvi, chief executive of the Abraaj Group; Connie Hasemann, managing director of Telehandelshuset; Margaret Mussoi L. Groff, chief financial officer of Itaipu; Nadia Al-Sakkaf, editor in chief of the Yemen Times; and Lord Abinger, accepting for Dean Cycon, chief executive of Dean’s Beans Organic Coffee Company. BUSINESS FOR PEACE FOUNDATION | For communities, not profit alone Urging businesses to fulfill their role as partners in society usiness and businesspeople must worthiness, explains Saxegaard, aconcept ‘‘Adam Smith is famous for his idea that, in The foundation’s aim now, says Sax- and the ability to be atrusted partner in be worthy of the relationships they understood by every business person. afree market, an invisible hand shapes indi- egaard, is to create ‘‘Adam Smith 2.0’’, these relationships.’’ B have in the world, and show that they Saxegaard notes that rebuilding trust vidual interests into common benefits. But he ‘‘where the invisible hand that was used to Nor can companies simply withdraw to respect the communities in which they oper- and the concept of businessworthiness go also believed that markets could not flourish justify laissez-faire economics is replaced by countries where they may be held to less ate, says Per Leif Saxegaard, chairman of far beyond ‘‘corporate social responsibility’’ without astrong underlying moral culture. the invisible handshake in a trusted relation- strict standards. ‘‘That is not a viable long- the Business for Peace Foundation. The initiatives that are often seen as attempts Smith believed that such a culture is animated ship between business and society, both term solution,’’ says Saxegaard. ‘‘Compa- business community and society, he says, at ‘‘whitewashing’’ or ‘‘greenwashing.’’ by empathy and fellow-feeling, by our ability to dedicated to their mutual prosperity.’’ nies must contribute to the communities ideally should be partners. ‘‘CSR falls short of the goal for a variety of understand our common bond as human be- In practical terms, says Saxegaard, that where they buy and sell. It makes financial But often business is distrusted by soci- reasons,’’ says Saxegaard. ‘‘It is rarely pro- ings and to recognize the needs of others. He means that companies must respond to and ethical sense, as it strengthens the pre- ety, and initiatives to change its image are active. Instead it is often re- also acknowledged that in how they are actually seen doing business, conditions for a flourishing of the market.’’ often poorly received. There has been a active, and as a result seen modern societies govern- rather than how they would like to be seen As part of its effort, the Business for breakdown of trust between business and to be apologizing for trans- ‘Companies must ment will and must grow.’’ by society. Peace Foundation is working to institute a society, Saxegaard argues. gressions. And it is rarely contribute to the The Business for Peace Companies can no longer suppress neg- doctoral scholarship program with the intent To help rebuild trust between business strategic and long-term; in- communities where Foundation argues that ative information, he notes, as they could of working with academia to support re- and local and wider-spread communities, stead it is seen as scatter- businesses need to only ashort time ago. The Internet and so- search that will help develop strategies for the Oslo-based foundation, established in shot and random.’’ He adds they buy and sell’ rethink their performance cial media are pervasive and information is companies to grow while improving the com- 2007, has put forward the concept of being that ‘‘in both instances, CSR and their processes — spread instantaneously. ‘‘Attempting to munities in which they work. The idea is to businessworthy. may actually work to the detriment of the indeed, the very purpose of business —and strictly control opinion and information see how businessworthy behavior pro- The aim is to help make the world aware business seeking to draw benefits from it. Ef- operate in accordance with recognized prin- against this backdrop is futile,’’ he says. motes trust, stability and peace. of the transformative and positive change forts are often seen by a skeptical society as ciples of ethical and responsible conduct. ‘‘Businesses have been slow to catch on to In addition, the foundation is establishing that business can create. Band-Aids for serious problems.’’ Through its Oslo Business for Peace this fact, believing that it is still possible to aresource center for sharing business- What is being businessworthy? Very Business, free trade and commerce are Awards, which annually recognize busi- buy a reputation through PR and market worthy strategies and insights with the busi- simply, it is applying the energy of enter- not inherently bad, Saxegaard notes. In fact, nesspeople who live up to the principles of communication, only to discover that in the ness community and others committed to prises ethically and responsibly, with the the concept of businessworthiness comes businessworthiness, the foundation hopes new information age adisconnect between ethical capitalism. goal of creating economic value that also from the idea that moral culture is neces- to give the business community concrete ex- what a company says it does and what it ac- The shift to businessworthiness, which creates value for society. sary for capitalism to succeed. amples of how that can be done. tually does is swiftly revealed.’’ implies afundamental change in business Businessworthiness means being Daniel Callahan, aco-founder of the Writing in the Harvard Business Review, He adds: ‘‘Now, more than ever, compa- practice, will take time. But the Business for worthy of relationships with suppliers, cus- Hastings Center, a bioethics research insti- Michael E. Porter, an authority on competi- nies are their reputation, and they are def- Peace Foundation believes it is possible. tomers and co-workers as well as the com- tution, wrote in an article about U.S. health tive strategy, says that ‘‘creating shared initely not the sole authors of their reputa- Says Saxegaard: ‘‘We must explore how one munities in which business is done. care reform in Commonweal, a Catholic value represents a broader conception of tion. More than ever, the creation of can rebuild the trust that has been lost be- Businessworthiness is comparable to credit magazine about culture and politics: Adam Smith’s invisible hand.’’ business value will be about relationships, tween business and society.’’ A.S. Partners City of Oslo Supporting Partners Global Media Partner . II | MONDAY,MAY 27, 2013 ADVERTISING SUPPLEMENT INTERNATIONAL HERALD TRIBUNE Oslo Business for Peace Award PROFILE | 2013 Honouree PROFILE | 2013 Honouree Private equity is about ‘value creation’ Newspaper editor works for peace hen Arif Masood Naqvi founded Asset, Abraaj works with more than 60 and democracy in Yemen the private equity firm Abraaj nongovernmental organizations to try to W Group in 2002, Arif Masood Naqvi improve education, create jobs and build hen Nadia Al-Sakkaf took over 21 Forum, which has the aim of ‘‘helping certainly set out to earn money. But private more sustainable communities. as editor-in-chief of the English- Yemen move into the 21st century’’ equity is ‘‘not just about money,’’ he says, Abraaj contributes 5percent of its top- W language Yemen Times, she not through discussion forums, workshops ‘‘it’s about value creation.’’ line fee income to the program. Employees only faced great professional challenges, and training programs. Naqvi founded Abraaj with $60 million in are encouraged to donate 5percent of their PEACE she faced personal ones as well. In 2012, the paper started an Arabic- assets. Today, the company has assets of annual bonus to Asset and participate in the Al-Sakkaf took over the paper in 2005, language radio station, Yemen’s first inde- $7.5 billion and is using its money to help im- program for at least five days ayear. FOR from her brother Walid. Abdulaziz Al-Sakkaf, pendent radio station, in an effort to reach prove the communities in which it does busi- In naming Naqvi a2013 Honouree, the their father, who founded the Yemen Times more people within the country. Officials at ness. From the beginning, Naqvi, anative of Business for Peace Foundation said ‘‘his USINESS in 1990, was assassinated in 1999. He was the paper note that radio is avital tool, since Pakistan, has striven to follow ethical busi- work in promoting responsible business /B aharsh critic of the Yemen regime and a half of the population can’t read or write.

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