In a conference at Chatham House on Monday, ICC Secretary General Guy Sebban stressed the important contribution made by business through voluntary initiatives to advance corporate responsibility.

The “on-the-record” conference, entitled: “Sense and Sustainability: The Limits and Reach of Corporate Responsibility,” delved into a broad range of corporate sustainability issues over two days, from climate change to dialogue with civil society and the challenges of promoting corporate responsibility in emerging markets. Chatham House is one of the world’s leading independent institutions on international affairs.

In a session on the interrelationship of government and business on corporate responsibility, Mr Sebban said that voluntary corporate responsibility initiatives help to advance long-standing global objectives related to economic development, environmental protection and social development – the three key elements of sustainable development.

The United Nations is playing an important role in the field of corporate responsibility through the Global Compact, Mr Sebban said. The Global Compact was launched in 1999 by former UN Secretary-General Kofi Annan, following discussions with ICC on the need to strengthen relations between the UN and business. ICC has had special high-level consultative status with the UN and its specialized agencies since 1946.

Growing adherence to the Global Compact in the world business community provides an important underpinning to the development of the collaborative relationship between the United Nations and the private sector.  This is essential to the attainment of the UN’s basic goals – peace and security – and the goals of business – creating wealth and prosperity; which are mutually reinforcing.

Mr Sebban reminded the panel that good stewardship of corporate responsibility can go a long way towards maintaining a positive corporate image, which is essential for companies to attract investors, shareholders and talented employees.

Mr Sebban was interviewed during the conference by BBC World Service Radio.