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International Leadership Symposium on Ethics in Business

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International Leadership Symposium on Ethics in Business World Forum for Ethics in Business International Leadership Symposium on Ethics in Business 20 November 2015 at the European Parliament WELCOME MESSAGE Rajita Kulkarni President World Forum for Ethics in Business Dear distinguished Guests, On behalf of the World Forum for Ethics in Business, I am delighted to welcome you to the 11th International Leadership Symposium on Ethics in Business - “The Double Bottom Line – How rich we really are” at the European Parliament. For the last decade, the World Forum for Ethics in Business has been a bastion of global initiatives, partnerships, impact and inspiration in the areas of ethics in business good governance, transparency and shared value. With the launch of the World Summit on Ethics in Sports in 2014, we began conversations about the critical impor- tance of ethics in sports. You have been an important partner in this journey and I thank you deeply for your contribution. We meet today when the world is facing a humanitarian crisis of sorts. Countries and communities are fighting challenges of terrorism, the current refugees crisis, environment, poverty, unemployment, health, inequalities etc. Government spend on propelling economic growth and welfare is barely able to help populations cope with the pressures and stresses of current day living. Are economic factors alone enough to define the true state of nation- al progress and the well-being of its people? It is also a time where the global business community is witnessing the impact of unethical business practices like never before. Companies that have spent a lifetime building their brand have seen overnight wipeout of shareholder value and market capitalization, not to mention loss of goodwill, erosion of customer loyalty and breakdown of stakeholder trust. How then can global businesses truly measure their profitability? Is the bottom line serving its real purpose? It is the responsibility of the global leadership community to ask a few tough questions today - How do we really measure national wealth? What is the contribution of people’s well-being in measuring a country’s progress? How do we evaluate the holistic performance of business institutions? Does profitable mean ethical and sustainable? Is success at the cost of the interest of few stakeholders really that? Through open discussions and debates, today’s symposium will create a rich multi stakeholder platform to table these questions and more. World leaders from the public and private sector, development agencies, government, sports and media will share their stories, present inspiring case studies and reflect on ways of cooperating towards initiatives that foster long term sustainable growth. I am confident that the inspiring conversations and constructive debates around this theme will set the stage for our long term engagement towards initiatives and impact. I look forward to meeting and interacting with you to set new milestones. Yours sincerely, Rajita Kulkarni President World Forum for Ethics in Business ABOUT THE SYMPOSIUM The Double Bottom Line – How rich we really are Over the last few years a wide global discussion has arisen on how we actually measure the performance of both governance and business institutions. We need to ask whether financial performance is sufficient or whether firms need to be concerned about the wellbeing of their employees and society. We are witnessing new, “shared-val- ue”, paradigms of capitalism where businesses generate economic returns by solving societal problems of heath, education and environment. Similarly there are emerging trends to measure economic performance of countries not only through Gross Na- tional Income but also through new measures of wellbeing. In today’s world we need to consider the holistic contribution of public and private institutions to people, planet and profits! The 11th edition of the International Leadership Symposium on Ethics in Business will look at complementary measures of performance of public and private institutions that encompass both economic success and social wellbeing. The 2015 WFEB annual conference will provide a unique global platform to explore this new paradigm for suc- cessful sustainable business, the commitment we have to take, and showcase inspirational examples that can be scaled up for global impact. In addition, it will present best practice case studies of initiatives that foster sustain- able, long-term growth and development with individual well being at the core of their business operations. These will highlight the approach of shared value, open, ethical and transparent market and supply chain connections. The symposium will also raise the question of how do we define and measure well being and will look into differ- ent aspects of mental health. The recipients of the 2015 WFEB Ethics in Business Award, which honors individuals and companies that have demonstrated the importance of ethics in life and in business, will be announced during the conference. The symposium, organized by the World Forum for Ethics in Business, in which The World Bank and the Inter- national Association for Human Values are partnering organizations, is an annual event which brings together prominent leaders from business, politics, academia, civil society and faith‐based organizations to dialogue on the pressing need to strengthen human values and ethics in business. The Symposium was first launched on inspiration of Sri Sri Ravi Shankar in 2003 in Bangalore, India, and the venue moved to the European Parliament in Brussels in 2006. The WFEB for the past decades has been advocating and acting towards ethics, sustainability, good governance and sustainable values. Over the past twelve years, 40.000 leaders from 70 countries joined in worldwide confer- ences and innumerable stories of transformation at a personal as well as at a corporate level have taken place. Nobel Laureates, political leaders and top executives from global companies such as Microsoft, Coca Cola, Info- sys, ING Bank, GMR Group, Daimler, Volkswagen, IKEA, Novartis, Unilever, Robert Bosch GmbH, Siemens and Tata Services have participated in this event. WELCOME MESSAGE Sri Sri Ravi Shankar Founder, World Forum for Ethics in Business Now is the time for us to come together and plan how we can build a sustainable future, and bring peace and prosperity to mankind. Human values and ethics need to be the core of any development. We have seen the flaws in communism; now we are seeing the failings of unbridled capitalism. It is time for a new ‘ism’ – humanism. Business beyond borders went hand in hand with service beyond borders. Today, to sustain this we need to have values beyond borders that can prevent wars, man-made disasters. Greed and crime of any one country today cannot be contained within this country. So the scope of business has expanded beyond just the creation of wealth to creating an ethical and moral so- ciety everywhere. And CSR activities can no longer be a fringe of the business but have to be if not the core but somewhere close to it. 5 THE WORLD FORUM FOR ETHICS IN BUSINESS BOARD MEMBERS Ms. Rajita Kulkarni Mr. Jo Leinen President, Member of the European Parliament, World Forum for Ethics in Business Board Member, WFEB Dr. Sanjay Pradhan Mr. Nirj Deva Vice President Leadership, Learning and MEP, Vice-President of the Development Innovation, World Bank Committee in the European Parliament, Board Member, WFEB Co-Founder & Board Member, WFEB Mr. Jules Goudsmit Mr. Roland Glaser CEO Coffral SA., Co-Founder & Board Former CEO Minerva Schools Switzerland, Member, WFEB Board Member, WFEB Mr. Madhu Rao Mr. Ram Lakhina Vice-Chairman, Shangri-La Hotels, Chairman, Netherlands-India Chamber Co-Founder & Board Member, WFEB of Com merce and Trade (NICCT), Co- Founder & Board Member, WFEB THE MANAGEMENT Mr. Christoph Glaser Mr. Ewald Poeran Managing Director Managing Director 6 ADVOCACY AND ACTION: THE WORLD FORUM FOR ETHICS IN BUSINESS The World Forum for Ethics in Business: Twelve years advocating and acting towards ethics in business, good governance and shared value The World Forum for Ethics in Business (WFEB) is a registered public interest foundation based in Belgium (N° 822.216.342). The mandate of the Forum includes all manners of pursuing and establishing the indispensable ethi- cal foundations of business in a globalised world. Among the organisation’s main objectives are providing a platform for the promotion and defense of ethical approaches to business enterprise and corporate governance and facilitat- ing global dialogue and fostering cooperation among the private sector, the academic world, government agencies, international organisations, the media, spiritual as well as secular communities and all other stakeholders. The World Forum for Ethics in Business is governed by its President Rajita Kulkarni and its Board Members Dr. Sanjay Pradhan, Vice President for Change, Knowledge and Learning, World Bank; Jo Leinen, Member of Eu- ropean Parliament; Nirj Deva, Member of European Parliament; Madhu Rao, Vice-Chairman Shangri-La Hotels; Roland Glaser, Former CEO Minerva School; and Ram Lakhina, Chairman of The Netherlands India Chamber of Commerce and Trade. The strategic partners of the WFEB annual conference are the World Bank Group and the International Associa- tion for Human Values. 40,000 Participants, 60 Countries, 12 Years The Symposium was first launched on the inspiration of Sri Sri Ravi Shankar in 2003 in Bangalore, India, and the venue moved to the European Parliament in Brussels in 2006. Over the
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