PwC Ghana Sustainable Business Forum: Series 1.0 enhancing business sustainability

Global megatrends such as shift in global economic power, demographic and social change, technological breakthroughs, climate change, resource scarcity and rapid urbanisation are affecting businesses and the way of living at large. With an estimated global population growth to hit about 8.3 billion by 2030 (OECD, 2015), there is an urgent need for concerted actions towards safeguarding energy, water and food to meet future generational needs.  

Global indicators currently project the need for 50% more energy, 40% more water and 35% more food if we have to survive as individuals and businesses at the current rate of growth and consumption.  The PwC Sustainable Business Forum (SBF) in its maiden event on 18th of March 2015 in the African Regent Hotel convened Senior Executives and Managing Directors to explore aspects of Enhancing Business Sustainability.  In the Series 1.0 of Enhancing Business Sustainability, the Forum focused on Creating Shared Value.

The Forum was opened by the Deputy Country Senior Partner of PwC Ghana Mr Vish Ashiagbor, reiterating the importance of the private sector in contributing towards sustainable development.

The German Ambassador, H.E. Ruediger John also highlighted the importance of the initiative indicating the importance of the private sector in demonstrating responsible business. The event was organised in collaboration with the Konrad Adenauer Stifting who was represented at the event by the Resident Country Director, Dr Gregor Ryssel.

A cross section of participants at the forum

The EPA Executive Director Mr Daniel Amlalo, In opening remarks, stressed the need for more partnerships with the private sector to safeguard environmental degradation in Ghana.

To showcase some best practice in “Creating Shared Value”, invited private sector firms shared with participants how they have benefited from an operational philosophy that is consumer-centric. They explained the some of the advantages benefits and demonstrated how they went about delivering on their initiative to create shared value.  

The Forum was treated to interesting insight from a series of distinguished guests including Mr. Peter Ndegwa, Managing Director of Guinness Ghana Brewery limited and other companies such as Nestle- Ms. Barbara Wettstein, UT Holdings -Mrs. Sophia Lissah, Ecobank- Mr.Musa Salah, Global Shea Alliance -Mr.Aaron Adu and Ms. Valerie Larbie, CEO of Clean Team Ghana. These organisations shared their thoughts on how they are having a total maximum benefit on business and the society through the integration of creating shared value within their strategic planning.  

For businesses, there is now an urgent need to consider People (Society), Planet (Environment), and Profit (Economic) holistically in order to sustainably impact positive development outcomes. For this to be achieved, the process of integrated thinking is imperative; organisations will need to integrate that innovative way of thinking in order to be able to realise greater growth opportunities.

 There is therefore the need for a platform that encourages sharing of ideas, knowledge and experiences that can assist organisations in exploring the process of integrated thinking. The Sustainable Business Forum is a thought leadership initiative under the umbrella of the PwC Ghana Business School whereby through series of quarterly events, members of the forum will benefit from technical and practical insight into aspects of integrating jointed thinking as an operational management tool.

The idea is to provide a platform to encourage learning-by-doing, dialogue, collaboration and knowledge sharing as indicated by the PwC Sustainable Business Solutions Lead Mr. Venan Sondo. By so doing, members will have the opportunity to access best practice examples, network with peers, and other stakeholders and acquire first class knowledge on dealing with the current challenges of strategically managing natural resources especially.

Members of the Sustainable Business Forum will benefit from:

•             Access to international best practice relevant to their organisations

•             Collaboration with key authorities especially the EPA and other strategic organisations

•             Knowledge sharing through action-oriented approaches to solving sustainability challenges

•             Exposure to sustainable business solutions with effective links to solution providers

•             A well-connected partner for their sustainability needs and challenges

Key subject areas to be discussed at subsequent events include Sustainable Development Goals and the role of the private sector in Ghana, the proposed Environmental Fiscal Reform and its relevance to the private sector, Sustainable Finance & Banking, Integrated Waste Solutions and Integrated Reporting. Following Ghana's energy challenges, the next event scheduled to take place June 17, 2015 is on the theme 'Energy solutions and Corporate strategies.' At the event, organisations will have the opportunity to explore best practice in the form of practical solutions and guidance towards management of energy towards achieving resilience in the adversity of energy challenges in Ghana.