In Search of Emerging Markets Excellence
IFC, the private-sector arm of the World Bank Group and international consultancy and think-tank SustainAbility are launching a major project to find out how companies in emerging-markets have attained investment-grade ratings, driven innovation and created new forms of value through good environmental, social and governance (ESG) policies.
The study aims to provide practical guidance to business professionals in emerging markets. The study will also enable the best cases of innovation in emerging markets to get the global recognition that they deserve. The project is kicking off with a call for examples of business success in emerging markets where ESG performance has been a significant factor.
Indeed, members of communities such as NextBillion have analyzed stories across emerging markets and are familiar with success stories. If you know of a particularly strong success story, or would like to propose a case for consideration, you could contribute to excellence@sustainability.com
In 2002, IFC, SustainAbility and Brazil’s Ethos Institute published a report titled “Developing Value: The Business Case for Sustainability in Emerging Markets?. According to the survey, covering over 240 businesses in Africa, Asia, Latin America and Central & Eastern Europe, companies that practiced social responsibility gained cost savings, increased revenues, reduced business risk, enhanced market reputation, strengthened employee relations and improved access to capital, particularly foreign capital. The new initiative promises to build on the findings of the 2002 report.
IFC clearly spells out Sustainability to be at the heart of their business model. It consistently assesses this through metrics identified in its Annual Sustainability Report.
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