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Taking Responsibility for the Future: A Long-Term Investment Strategy for Business
24 May 2018
15:00—16:15
KEY CONCLUSIONS
Sustainable development ensures a balance between human interests and the protection of nature

Today, personal, corporate, and state responsibility when it comes to sustainable development is not an option anymore <...> It is an imperative, a necessary factor that contributes to the balance between human interests, the scale and nature of economic activity, between the environmental endurance of nature and the required quality of life, to which we aspire — Larisa Ovchinnikova, Chairman of the Governing Board, National Network of the Global Compact.

Sustainable development is a global megatrend. <...> It is important for us to ensure high quality of life as a result of our economic efforts. <...> The example of China suggests that inadequately controlled industrial development can lead to such grave environmental consequences that they undermine the quality of life as a whole, even despite the growth of the material component — Alexey Mordashov, Chairman of the Board of Directors, Severstal.

We take two aspects into account: humans and the planet. We do that in order to avoid a negative impact on nature and subsequently on humans. Therefore, we have three drivers that we have included in the company development plan. The first driver is overall healthy, sustainable development, and not only in terms of product design, but in its further impact on the health of the consumer. <...> The second driver is a positive attitude towards the climate <...> and the third driver is inclusiveness — Juvencio Maeztu Herrera, Chief Financial Officer, IKEA.

Business participation in sustainable development programmes increases capitalization

At the international level, in global or national markets, the company's commitment to the principles of corporate responsibility as well as its involvement in the processes of sustainable development is becoming an increasingly important factor in the growth of business and the capitalization of the business reputation — Larisa Ovchinnikova, Chairman of the Governing Board, National Network of the Global Compact.

For us, sustainable development is the mission of the company <...> 75 years ago, we set a goal to build a company for the people. We are a company does not strive to maximize not profit, but rather produce a positive effect on the consumer — Juvencio Maeztu Herrera, Chief Financial Officer, IKEA.

ISSUES
New challenges change the conditions for doing business

We are facing a tough technological transformation, because total transport mobility will be inscribed in the ecosystems of smart cities. This means our technologies will be mobile, modular. Future vehicles will be gadgets at their core, they will be sold in marketplaces, and service will also become modular. Therefore, this will be a total reconstruction of the existing chain — Vadim Shvetsov, Director General, PJSC Sollers.

We recognized that our product leads to disease, and we want to create an innovative product that will significantly reduce the level of harm. This will help achieve goal number three: good health and prosperity — Ashok Rammohan, President for Affiliates in Russia and Belarus, Philip Morris International (PMI).

SOLUTIONS
Create economic incentives for responsible development of companies

Every company around the world that produces anything is involved in some form of environmental protection because it is economically profitable. I believe the task of the state and the society as a whole, is to strengthen these conditions, not at the expense of artificial barriers and requirements, but rather through structurally reinforcing of the trend — Alexey Mordashov, Chairman of the Board of Directors, Severstal.

Customer-oriented approach to business

We want to be leaders aimed at the societal development, and as a person becomes a centre of our activity, we focus on the person, and the consumer as such becomes the centre of our activity — Juvencio Maeztu Herrera, Chief Financial Officer, IKEA.

We aim to become more client-oriented. <...> The principle is to provide the client with maximum satisfaction. Creation of maximum positive experience for the client is the main tool for increasing competitiveness — Alexey Mordashov, Chairman of the Board of Directors, Severstal.

Our business is based on the digital business model, and digital model allows us to change continuously. We can constantly adjust to the needs of our client, constantly change the model, constantly catch the possible flow and new opportunities in the market — Vasyl Latsanych, CEO of PJSC VimpelCom.

Infrastructure development

Infrastructure increases the availability of services, infrastructure contributes to reducing the level of inequality in society, and the more accessible the infrastructure, the more it contributes to the overall development of society and the achievement of global goals — Alexey Kornya, President, MTS.

Social responsibility of business

We are now working on a large online platform that will help the poorest segments of the population. We’re doing it not only for the company where we work, not only for the cities where we work, but for the poorest people in the countries where we work to make their lives better — Alexander Machkevitch, Chairman of the Board of Directors, Eurasian Resources Group S.a.r.l. (ERG) .

Business cares. It takes great responsibility for the future, and invests long-term. The business strategy is to invest in long-term projects so that our children live much better lives than we do — David Iakobachvili, Vice President, Russian Union of Industrialists and Entrepreneurs (RSPP); President, Orion Heritage LLC.

We have invested USD 4.5 billion in a programme for the treatment of tobacco related diseases. <...> We have scientific achievements in 38 markets, and more than 5 million smokers switched to innovative products and quit smoking — Ashok Rammohan, President for Affiliates in Russia and Belarus, Philip Morris International (PMI).

We use innovations to improve people's lives — Jan-Willem Scheijgrond, Vice President, Global Head of Government and Public Affairs, Royal Philips.

The material was prepared by the Russian news agency TASS