Corporate Responsibility in the Face of Global Economic Integration
Dr. Nay Htun
Assistant Secretary-General
United Nations
Assistant Administrator for Asia-Pacific
United Nations Development Programme (UNDP)
Your excellencies, distinguished participants, eminent and outstanding speakers on the panel:
Global economic integration, which is a main title of this plenary panel, potentially provides more and bigger market opportunities. The session before us have heard how the very fast transition from e-commerce to m-commerce potens to change the way we trade, we market, we work and indeed, we live and interact with each other. More market opportunities can translate into more wealth creation and formation. A recent New York Times article reported that one of the growing business in new York City is school for training butlers because of the increasing demands of so many young millionaires and billionaires who need more tender caring and perhaps, pampering.
So what are the challenges facing corporate responsibilities in this globally integrated economy which has repercussions on the social and environmental arena? Let me pose just a few questions.
With regards to the environment, whereas thirty-forty years ago dispersion through tall chimneys or tall stacks were the mode of dealing with pollution problems; or dilution through rivers, lakes and oceans; and then onto end of the pipe pollution treatment; and increasingly o'er the last ten to twenty years, more reduction at source prevention of pollution. And now total product cycle, going beyond the so-called 'cradle to grave' - here corporate responsibilities is very imminent.
With regards to social responsibilities, beginning with employees, the greatest asset, the greatest resource of any cooperation, indeed any country, to share orders to customers; but now customers are worldwide. They are everywhere with global economic integration. Where and what should be the limit of responsibilities? With global economic integration there will be and there must be greater mobility of people. And that's very good, but there could be also potentially downsides to this: the easier, faster spread of infectious diseases, such as HIV-AIDS, tuberculosis, malaria, et cetera, with greater trade and commerce between different regions of the world.
Whereas, in the fall the different regions of the world, because of mountain ranges, oceans, major rivers, have helped to contain or quarantine insects, bacteria, viruses within that particular region because of natural boundaries, natural differences in temperature and climatic conditions. Now with greater and faster trade and commerce and mobility, the transportation and transmission of bacterias, viruses, insects, et cetera, from one region to the other speeds up significantly. Are existing quarantine systems sufficient to insure that these type of new, emerging, or indeed, traditional types of diseases remain where they were on a regional basis?
Challenges facing cooperation and is and will be, where and what should be the limit of corporate responsibility in the face of global integration, economic and socially? On environmental issues that affects global comments and global consequences, what is the limit? On social issues that affects gender, marginalizes and disenfranchise women, the old and the infirm, in the global marketplace, where should be the limit? On human health and well being that becomes new and indirect forms of vectors for the spread and transmissions of epidemics and pandemic diseases again, where should responsibilities ends?
With global economic integration, I said earlier on, there are greater market opportunities, so therefore there are greater opportunities for wealth creation and wealth formation. It is now increasingly recognized that wealth cannot and should not be measurement in only one dimension or one set of economic indicators primarily based on economic parameters, such as the GNP or GDP of country, or the bottom line of a corporation, or only the per capita income of a person. Wealth needs a broader measurement. I needs a human and more holistic dimension. These are some of the questions that will face corporations and corporate responsibilities.
We have, as has been introduced, a most outstanding and imminent panel of speakers who will address these and many other corporate responsibilities.