Sustainable Development: The Role of Business

(3 Credit Hours) · Undergraduate

In today’s interconnected global economy, there is a growing realization that we must restore public trust in business. Integrating environmental, social and governance issues into corporate management is the overriding purpose of the United Nations Global Compact and its ten principles. This is the heart of the corporate sustainability movement and an effective way to restore trust in business. Take one look at the smog that hangs over the former Olympic host city Beijing and it becomes abundantly clear—globalization and economic expansion come at a price. Resource depletion, worker exploitation, pollution and corruption—this is the dark underbelly of globalization that has raised alarm bells around the world. Thankfully, more and more individuals and organizations are waking up to the social, environmental and ethical costs of a global marketplace and are making a sound business case for a new era of moral capitalism. Leading the way in this regard is the United Nations with its groundbreaking Global Compact initiative. Launched in 2000, the Global Compact now has more than 18,000 businesses in 162 countries around the world—making it the world’s largest voluntary corporate social responsibility project.