GROWTH SUMMITS 2010

National Business Awards Growth Summits: London 

Hilton Tower Bridge     11th June 2010 

Sustainability ‘is not at odds with profit’ says ICAEW CEO

Speaking at the final Business Growth Summit in London on 11th June, Michael Izza, chief executive of ICAEW told an audience of SMEs that “now is not the time to ditch the sustainability agenda; sustainability is not at odds with profit.” 

Arguing that every business and organisation needs to re-think the way they do business, and review their strategies in the wake of a global financial crisis, he added: “We believe that embracing sustainability is quite simply about doing better business and building resilience into the new business model, which will deliver value to shareholders whilst meeting the changing needs of people and the planet.

“The accountancy profession has a big role to play here as both advisers to business, finance directors and chief executives in stewarding their businesses and driving forward a new sustainable strategic direction.”
 

Keynote Speakers: 

	Harriet Lamb		Dax Lovegrove		Michael Izza
	CEO of Fairtrade Foundation		Head of Business & Industry Relations at the World Wildlife Fund		CEO of the ICAEW

Natural assets
Fellow keynote Dax Lovegrove, Head of Business & Industry at WWF-UK (formerly, the World Wildlife Fund), warned that ‘we are all eating into nature’s capital’ but business had the power to save our planet. “To quote PwC, business needs to think of the eco-system as an extension of its asset base,” he said. “BP has highlighted investor risk, where the Mexico spill wiped out half of its share value overnight. When exploring new forms of energy, investors need to know about a wide range of potential costs and hidden risks. Transparency is vital if we are to make the financial system more sustainable.”

Lovegrove explained that the WWF’s Finance Innovation Lab, already working in partnership with the ICAEW, has already attracted over 200 core participants, and an online community of over 650 members - including the likes of easyjet and Aviva – as thought leaders to pilot new finance initiatives (for example transparency and risk projects or help to grow low carbon industries).

Big lessons from small holders
Fairtrade Foundation CEO Harriet Lamb, the third keynote invited to speak about sustainability in business, said its message has resonated with consumers – with Fairtrade seeing a 15% increase in sales in the last year despite the recession. “Consumers are more conscious of supply and are willing to pay a premium to protect it; but business is also learning,” she added. “Cadbury became Fairtrade because it realised the average age of a cocoa farmer was 54, so it invested in the next generation of cocoa growers. There was a business interest in sustainability to protect supply.”

Concluding with a warning that business should not continue to live for today at the expense of tomorrow, Izza said: “The CBI predicts that by 2015, given current growth assumptions, the UK won’t have the natural resources for production capacity to meet demand. Who wants to be faced with the question of which high energy consuming industries to turn off?”

The ICAEW Corporate Responsibility & Sustainability Award category is still open for entries. Open to private or public sector enterprises, this award will go to the organisation that can best demonstrate a company-wide commitment to Corporate Responsibility and business sustainability, that is clearly communicated and embedded into its strategy. For details of how to enter, visit www.nationalbusinessawards.co.uk/award-categories. 

This Business Growth Summit, which took place at the Hilton Tower Bridge on 11th June 2010, is the last a series of free regional events organised by the National Business Awards. Designed to highlight challenges facing businesses across sectors and regions, they have also provided a platform to network, debate and share experiences of successful innovation and growth over the last year. If your business has innovated and grown over the last year, gain recognition by entering your company for the UK's top business accolade - the National Business Awards in partnership with Orange.

To find out more about how to enter,call Sam Robinson on +44 (0) 207 234 8713 email sam.robinson@ubm.com