Leaders in the SDG Tent in Davos call for sustainability and stakeholder capitalism

DAVOS, SWITZERLAND / AGILITYPR.NEWS / January 21, 2020 / 17 industry-leading companies and organizations have come together at the SDG Tent in Davos during the World Economic Forum to put an unprecedented focus on sustainability, stakeholder capitalism and actions to achieve the UN Sustainable Development Goals (SDGs). The SDG tent is hosting close to 50 events - open to the public on a first-come, first-served basis - on Promenade 139 in Davos, Switzerland from 21 – 24 January 2020.

“Capitalism has failed because of its focus on short-term profitability and performance. Companies need to be measured not just on their finances, but on how they use their resources to serve their community. If you are a leader, you need to ask yourself: How are your stakeholders, not just your shareholders, being served by what you are doing?,” said Andre Hoffmann, President of InTent and Vice Chairman of Roche Holding Ltd, in the opening panel of the SDG tent.

Peter Bakker, President and CEO of WBCSD, adds: “Capitalism itself is not the challenge. The conversation needs to focus on how we redirect capitalism to truly accelerate the required transformations now. The fix is the relatively simple Triangle of Stakeholder Capitalism: Science-Based Targets (SBTs), Task Force on Climate-related Financial Disclosures (TCFD) and Environmental, Social and Governance (ESG) information. Simple accounting rules around meaningful ESG indicators – driving the risk assessment, strategic scenario building and management decision-making like TCFD is doing – towards the delivery of the science-based targets, will make Capitalism drive us towards the sustainable world that will serve all people and protect our planet.”

Platinum partners of the SDG Tent include InTent, Royal DSM, Salesforce, the World Business Council for Sustainable Development (WBCSD) Yara International, and Gold Partners include Cargill, Swarovski and UPS.

These partners will lead events in the tent aimed at accelerating change in an impartial, open platform that is accessible to all, located outside of the security zone at Davos. Sessions will fit within the 50th Annual Meeting’s wider theme of “Stakeholders for a Cohesive and Sustainable World”, and cover a range of topics from artificial intelligence, health and climate to the plastics economy, youth engagement and youth entrepreneurship. See the full agenda here.

Adding his observations, Feike Sijbesma, CEO and Chairman of the Managing Board of DSM said: “People talk of the elite who gather in Davos, but the true elite are the ones who take responsibility. That means focusing on the long-term, not the short term. We cannot be successful or dare to call ourselves successful if we live in a world that fails.”

“Food plays a critical role in the fight against climate change – We cannot solve the climate crisis without transforming the food system. The SDG tent is evidence of a collective responsibility, exercised by food value chain players to drive a fundamental change in the way we grow and share food to nourish 10 billion people on our finite planet. With only a decade left to achieve the SDGs, urgent action is imperative,” says Svein Tore Holsether, President and CEO, Yara International.

Notable speakers and participants will include Chief Executives, Heads of organizations and political leaders, with a particular focus on the Community of Global Shapers and the Forum of Young Global Leaders, who represent a new generation of innovators.