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The final recommendations from the Business & Industry Major Group during the UN Conference on Sustainable Development (Rio+20) put forth a strategic vision to address the role of business as the engine for innovation and investment so that nine billion people can live well and within the means of one planet by 2050.

“Rio+20 identified the private sector as a principal solution provider on sustainability. It recognized the green economy, the engagement of the private sector at all levels, and the need to promote sustainability reporting both at the company and the national level. All of these were steps in the right direction, though more needs to be done,” said Kris Gopalakrishnan, Chairman of the BASD. “As we move forward, countries cannot lose sight of the momentum gained from Rio and must continue to lead by making smart regulations and clear policies that can focus the global business community’s full potential to achieve sustainable development progress.”

Gopalakrishnan added: “As they begin discussions anew in New York, I strongly urge all governments to review BASD’s final vision to better understand the need for stronger policies and partnerships that will enable business to drive sustainable solutions.”

The BASD statement recommends three priority areas for business and government to collectively ensure progress toward sustainable development: 

1) Innovate - support the market with mechanisms and incentives that will unlock the private sector’s unique ability to develop and deploy new solutions for sustainable development.
 
2) Lead - continue to engage global leaders to act as a positive force for global sustainability in order to build trust and to deliver progress at scale.
 
3) Invest - encourage and facilitate private investment in sustainable development by enhancing a range of incentives, partnerships, policy frameworks and risk sharing to achieve the necessary returns in pace, scale and impact of these investments.
 
BASD 2012 was the official Business and Industry Major Group representative for the United Nations Conference on Sustainable Development (Rio+20). BASD was convened by the International Chamber of Commerce (ICC), the World Business Council for Sustainable Development (WBCSD) and the United Nations Global Compact, and joined by 10 prominent international industry association partners: AquaFed; Air Transport Action Group (ATAG); CropLife International; Cement Sustainability Initiative; Digital Energy and Sustainability Solutions Campaign; International Aluminum Institute; International Council of Chemical Associations; International Council on Mining and Metals; Global Oil & Gas Industry Association (IPIECA); and World Steel Association.

BASD 2012 provided business leaders an official and unified platform from which to contribute input, expertise and constructive solutions throughout the Rio+20 process. A Sustainable Path From Rio+20 represents the culmination of BASD’s two-year long collaboration and is the final document to be released by the group.