Product Description

As planetary anxieties about globalization, poverty and climate change grow, where does the international business community stand? Are they a barrier to change or an engine for it? One outcome of the Rio Earth Summit in 1992 was Changing Course, the hugely influential book by Swiss industrialist Stephan Schmidheiny which argued that business needed to be part of the solution to global environmental degradation. Now, Schmidheiny has joined with fellow prime movers in the World Business Council for Sustainable Development (WBCSD--the key business organization focusing on policy research and development in this crucial area), Chad Holliday, Chairman and CEO of DuPont; and Philip Watts, Chairman of Shell; to spell out the real business case for addressing sustainable development as a key strategic issue. The results are ground-breaking. For the first time, leading industrialists are arguing that not only is sustainable development good for business, the solving of environmental and social problems is essential for future growth. Drawing on a wealth of specially written case studies and personal interviews from business leaders operating around the world, Walking the Talk clearly demonstrates that the vanguard who have operationalized leading-edge environmental and social initiatives are benefiting in a myriad of ways that benefit the bottom line--and the planet. The book argues that the time for rhetoric is over. The business of business has changed. Even more remarkably, the authors insist that a global partnership--between governments, business and civil society--is essential, if accelerating moves towards globalization are to maximize opportunities for all--especially the world's poor. As Chad Holliday recently stated in an address to the United Nations: 'Given existing technology and products, for all six billion people on the planet to live like the average American, we would require the equivalent of three planet Earths to provide the material, create the energy and dispose of the waste.' Such an option is evidently not available and the book argues that far more eco-efficient and socially equitable modes of development must be pursued in order to allow poorer nations to raise their standards of living. The solution provided by Walking the Talk is to mobilize markets in favour of sustainability, leveraging the power of innovation and global markets for the benefits of everyone--not just the developed world. This means a further liberalization of the market--a move that would be condemned by anti-globalization protestors. Yet, as the authors argue, business cannot succeed in failing societies. When the global market fails poor countries, where most of the world's people live, it will also eventually fail business. Subsidies for rich countries' products and tariffs against poor countries' products do not constitute a 'free' market, or one that best serves people or business. Similarly, governments cannot subsidize fossil fuels or water and expect businesses, or ordinary citizens, to use them efficiently. So, a new, fair and equitable market is needed. A market that can work for all. The authors therefore call on protestors against globalization to stop protesting against the market and instead to campaign instead against the perverse policies that impoverish people and their environment. Walking the Talk explores the opportunities and challenges inherent in eco-efficiency (producing more with less), corporate social responsibility, and a transparent, 'wired' world where reputations can be irreversibly damaged--or enhanced--in real time. It also devotes a chapter to ways in which corporations can and must 'learn to change'. It examines the new partnerships needed among companies, governments, and civil society to produce real change, and the ways in which these alliances can work for all concerned. And it argues that consumer choice and consumer information should be encouraged as a positive force for sustainable development. Only what is valued is carefully used and so creating markets for environmental goods and services may be the best way to protect scarce resources. This is especially true in efforts to mitigate the effects of climate change, where businesslike approaches, such as the development of carbon trading, offer workable solutions to policy-makers. Whether small, medium or large, all businesses must innovate and change to meet the social and environmental challenges of the coming years. Walking the Talk provides a broad set of proven roadmaps to success as well as real-life inspiration for business to embrace the real challenge--to build a global economy that works for all the world's people.

Product Details

• Amazon Sales Rank: #1449269 in Books
• Published on: 2002-10-01
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 288 pages

From the Back Cover
" 'Changing course' was the message of the book published by Stephan Schmidheiny for the Earth Summit in 1992. Ten years on, Stephan Schmidheiny, Chad Holliday and Philip Watts demonstrate how a number of leading companies have started to 'walk the talk'. I hope that the concrete examples provided in this book will catalyze the necessary change of course in the millions of companies that still continue with business as usual. I also hope that this publication will encourage business leaders to work with governments to adopt the necessary regulatory and economic frameworks that will enable market forces to drive a life-cycle economy and a more equitable world. Congratulations for this important undertaking."
Dr Klaus Toepfer, Executive Director, United Nations Environment Program

"In growing numbers, business leaders are coming out of the closet to acknowledge the design problems of our outlaw industrial system. Evolving an economic system consistent with the laws of nature is the challenge of our times. It will require harnessing imagination and innovation of businesses around the world. In this process, the leadership of large global corporations will be pivotal. 'Walking the Talk' is an important next step in the beginnings of a very long journey."
Peter M. Senge, MIT and SoL (Society for Organizational Learning)

"This book shows us that the most successful companies will be those that achieve sustainable development through learning from the marvelous mechanism of nature and power of life - Nature's Wisdom - and innovate accordingly."
Dr Shoichiro Toyoda, Honorary Chairman, Member of the Board, Toyota Motor Company

"In the global era not only commerce, but also information and civil society are global. In "Walking the Talk" these forward-thinking business leaders make a powerful case that in the global era an enterprise's license to operate depends on strategies that respond to broad societal values: protecting the environment, respecting human rights, promoting development that meets human needs, sharing information, and embracing scrutiny and input from civil society."
Jonathan Lash, President, World Resources Institute

"Ten years after Rio, we approach the next Earth Summit in Johannesburg. Much has been accomplished in the corporate sector over the past decade. Ten years ago, the agenda was about 'changing course', 'eco-efficiency', and 'market failures'. Today, it is about 'sustainable growth', 'the bottom of the pyramid', and 'walking the talk'. Ten years from now we will look back and be amazed at how far the business sector has pushed the sustainable development agenda forward."
Professor Stuart Hart, Director, Center for Sustainable Enterprise, Kenan-Flagler Business School, University of North Carolina

"Within the environmental arena, a strategy of business as usual will lead to some very unusual forms of business, if only because of environmental forces that are becoming ever-more forceful. Fortunately a number of corporate leaders, including the three authors, are coming to understand that there can be no sustainable business except within an overall context of sustainable development. This book presents a compelling case, and does it in a very readable fashion."
Dr Norman Myers, Fellow, Green College, Oxford University

"For me, the appearance of the World Business Council for Sustainable Development (WBCSD) was one of the most important unofficial outcomes of the Rio Summit in 1992. It signaled the beginning of a period where it became clear that governments alone cannot achieve sustainability, and preconceptions about business being all about profit and NGOs all about ethics and voluntarism disintegrated. "Walking the Talk" demonstrates that we are all sitting in the same planetary boat."
Dr Claude Martin, Director General, WWF International

About the Author
Charles O.Holliday,Jr. Chairman &CEO,DuPont An industrial engineer by training, Chad Holliday parlayed a summer job at DuPont into a full-time position in 1970.In his 30-year DuPont career, he has touched virtually every aspect of the business -from fibers and chemicals to agricultural products and biotechnology. His diverse assignments have spanned nearly all key functional areas, advancing through various manufacturing and supervisory assignments to product planning and marketing positions and, more recently, to executive responsibilities and his current role as Chairman and CEO, Chad is the first DuPont chief executive with extensive experience outside the United States, having been based in Tokyo for seven years as head of the DuPont Asia Pacific operations. Chad is the current chairman of the World Business Council for Sustainable Development. He also serves on the board of directors of Analog Devices,Inc and Catalyst and is a senior member of the Institute of Industrial Engineers. Stephan Schmidheiny Chairman,Anova Holding AG Swiss industrialist Stephan Schmidheiny founded the Business Council for Sustainable Development (BCSD)after he was named in 1990 Principal Advisor for Businesses and Industry to the Secretary General of the 1992 'Earth Summit in Rio. He was principal author of the 1992 book 'Changing Course: A Global Business Perspective on Development and the Environment (MIT Press),which was published in 15 languages. Mr.Schmidheiny is now honorary chairman of the World Business Council for Sustainable Development. His business interests are centered in the Nueva Group holding company, more than 40 companies (30 production plants)in 15 Latin American countries. Companies on whose boards he has served include the Union Bank of Switzerland, ABB, Leica, Swatch and Nestle. He is also founder, Funder and president of the AVINA Foundation, which promotes sustainable development in Latin America. Philip Wattts Chairman of the Committee of Managing Directors of the Royal Dutch/Shell Group of Companies Philip Watts has been Chairman of The Shell Transport and Trading Company plc and of the Committee of Managing Directors of the Royal Dutch/Shell Group since July 2001. He has been a managing director of Shell Transport and a Group managing director since 1997. His functional and geographical responsibilities as a Group managing director are:Finance; Human Resources; Legal;Planning, Environment and External Affairs; and the United States He joined Shell in 1969 and worked in Indonesia, the UK, Norway and the Netherlands. In 1991 he went to Lagos as Chairman and Managing Director of the Shell Petroleum Development Company of Nigeria, returning to The Hague as Regional Co-ordinator Europe in 1994.From the beginning of 1996 until becoming a managing director, he was director of Planning, Environment and External Affairs for Shell International in London. Philip Watts was born in 1945 in Leicestershire, England. He graduated from Leeds University with a BSc in Physics and an MSc in Geophysics.In between these two degrees he taught in a secondary school in Sierra Leone for two years. He is married and has a daughter, a son and two grandchildren. His interests include reading and gardening. He is chairman of the World Business Council for Sustainable Development and of the UK chapter of the International Chamber of Commerce.

Customer Reviews

Walking the Talk
Walking the Talk offers the general reader a useful introduction to the business case for sustainable development. It argues that, contrary to common assumptions, sustainable development is good for business and business is good for sustainable development.

The underlying concepts and ideas are well spelled out. But what makes this book truly special is the abundance of case studies and examples of companies' practices that illustrate how these concepts are translated into practice. CEO's interviews provide a lively account on the private sector's perspectives on sustainable development.

One of the great advantages of this book is that each chapter can be read in isolation. An enjoyable read for conventional back-to-back readers, it is also easy for those interested in specific issues to navigate back and forth between chapters. Each contains a wealth of information on individual themes (ranging from innovation and eco-efficiency to corporate social responsibility). The book is structured around ten chapters, which represent the ten building blocks that pave the corporate journey towards sustainable development.

Each chapter investigates a different component of a sustainability-driven strategy. Overall, the book argues that companies need to embrace innovations to devise new ways of producing more with less natural resources; move from dialogue to partnerships; orient patterns of consumption by informing consumers about the environmental impact of their choices and by reflecting the value of the planet in products and services they deliver.

Co-authored by big corporate leaders, this book is a timely contribution to the debate surrounding sustainable development. Although there is unquestionably still room for work and improvement on the part of the private sector, Walking the Talk builds a convincing argument that business should get involved (and sometimes even take the lead) in sustainability issues.

Read this book if you want to improve your bottom line
Business has always had as its prime responsibility making profits and this is what most stakeholders seek from their investment. It is only when business is convinced that it will make better profits over the long term by being socially and environmentally responsible that we will see the changes that are required to leave a better world to our children. It was therefore like a breath of fresh air to discover this book written by influential businessmen showing that corporate social and environmental practice will improve both the bottom line and the planet. More than 160 companies have joined the World Business Council for Sustainable Development (WBCSD) and are trying to run their companies in the best interests of human society and the natural environment. Emerging from the vision of a small group of business leaders prior to the 1992 Earth Summit, the WBCSD published this book prior to the 2002 Johannesburg Summit. They found that the term 'sustainable development' is unknown to most of the world's inhabitants and that it is mildly annoying to almost all environment actors and thinkers but some corporations were drawn to it because it is not anti-growth and serious economic growth is required to meet the needs of the current population. Moreover, the issues of sustaining a planet are similar to those of sustaining a corporation - primarily managing a balancing act between the short-term and the long-term - and getting it wrong in either direction can mean extinction. Thinking in terms of sustainable development opens up new ways to grow and led to the more business friendly term of 'sustainable growth'.

As the market is good at reflecting short-term economic realities but poor at reflecting long-term economic realities and environmental realities the WBCSD prepared a report for the 1992 Summit calling for full-cost pricing, taxes and tradable permits rather than regulation, phasing out of subsidies, and accounting changes to reflect environmental scarcity. However, adoption of these measures would result in higher prices and the other two pillars of society - civil society and government - needed to accept such a change. Each sector tends to wait on the other; politicians do not want to become unpopular by pushing for higher prices nor do consumers want to spend more. "There will not be real progress until business, government, and civil society team up in new and dynamic partnerships."

Adoption of the phrase 'eco-efficiency' was a conceptual breakthrough that allowed moral and ethical practice to be linked to good business practice and set an agenda of producing more with less - a package that would make companies more competitive. Companies could be more profitable while keeping a human face and as few companies were prepared for consumer's ability to get their concerns into board rooms, managing a company's reputation became a central element in managing a corporation. This led to companies adding an environmental section to their annual financial report and reporting on the triple bottom line - financial, environmental and social. This has already brought about some radical changes. "Companies that once sold paint to car companies now sell the service of painting cars. So where once they improved their bottom line by maximizing cans of paint sold, they now improve the bottom line by minimizing the use of paint per car." DuPont decided that if it wanted its business to be sustainable it had to improve earnings by using fewer raw materials. This lead to the concept of shareholder value added (SVA) per pound of production and the goal of doubling the SVA of Kevlar fiber over the next five years. "Dupont Flooring Services has developed a system to offer certified installation, patented maintenance and end-of-life recycling to the already world-class carpet offering of DuPont Antron." At DuPont the question of whether sustainability improves the bottom line is not asked any more: "That is how we will get our bottom line, and that is how we will create value for our shareholders and for society."

By devoting 2% of its annual capital investment to environmental performance, a Swiss-based company has a vision of being a 'zero-equivalent carbon dioxide emission company' through a 5% pa annual reduction of energy per unit, increased use of alternative and renewable energy and by planting 35,000 hectares of land with trees to compensate for the remaining emissions, with a projected saving of $1 billion between 1994 and 2010. "Thanks to these measures, the planet has been spared the burden of another 100-megawatt power plant; the water we have saved could quench the thirst of 50 million people a year. We are using 28% less electricity and 45% less water than in 1994 for the same output. This translates, with a large increase in volume today, into a saving of $50 million in 2000 alone."

This book has 67 case studies that present current leading edge thinking. For a company that believes that it will remain competitive by neglecting environmental issues, this book will be an eye-opener. For others it is impossible to read this book without coming away with ideas for improving performance and the bottom line.

One of the best CSR books
This is one of the best books on Corporate Social Responsibility I have come across so far! It gives a deep insight into the business case for CSR and contains a whole lot of examples and case studies from different companies. Very interesting and inspiring as it explains why Sustainable Development and Business are two sides of the same medal.