Sustainable Business Practices

15 July, 2011_Busan, South Korea: A commercial building is under construction in downtown Busan, South Korea's second largest metropolis after Seoul, with a population of around 3.6 million. as of 2010.  It is the largest port city in South Korea and the fifth largest port in the world.  The Asia-Pacific region has, since 2006, become the world’s second largest aggregated economy – accounting for 29% of global GDP following extraordinary GDP growth rates in recent decades. Photo Credit:Kibae Park/UN Photo

Sustainable business practices are increasingly being adopted as part of companies’ core business. Companies are realizing that operating in ways that support the welfare of the environment and their workers is not only beneficial for the communities in which they operate, but can also increase their competitiveness, lower costs and increase the possibility for them to become suppliers to global buyers who have committed to ethical sourcing. ESCAP is working together with governments, companies and entrepreneurs to support the adoption of sustainable business practices, in particular the principles of the United Nations Global Compact. We are providing assistance to governments to formulate appropriate policies that encourage companies to implement sustainable practices. We also instruct companies how to embed sustainability in the organization and have developed tools and provide training to companies to aid them in strategic sustainable business planning.