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Inspiring presentations have been held on this year’s third ESG working group meeting

At our third ESG working group meeting this year, remarkable presentations have been held. The participants got to know to ALTEO’s Sustainability Barometer by Attila Chikán Jr. (ALTEO). Later, the Ecovadis evaluation of ALD Automotive Hungary have been explained by Annamária Székács (ALD).

The aim of the ALTEO’s Sustainability Barometer was to see how a potential investor thinks about sustainability, thus have a deeper understanding on people’s approach on sustainability. ALTEO’s survey was conducted among Hungarian Internet users between the age of 20 and 65 with a sample size of 1.000 people representing the gender, age and educational background of the population, and the type of settlement where they live. The questions focused on the awareness of environmental problems, concrete actions how people protect the environment, moreover how they deal with their investments.

The majority of Internet users in Hungary between the age of 20 and 65 are interested in the environment protection, 82% believe that environmental problems also impact their lives, but 32% are not yet convinced about it currently being one of the most important tasks that people have. According to 80% of the respondents, everyone is responsible for environmental problems, while 19% blames corporations, countries and global organizations. Women more typically share a sense of community, while men tend to pass responsibility on to companies. 

Attila also covered the topic of investments. The majority claimed that they would prefer a financial product if it also took sustainability into consideration.

Further information can be found about the results in hungarian here.

Annamária shortly introduced their company to the participants, as ALD Automotive Hungary is a fresh member of our community. Their beliefs say, that economic development is no longer possible without environmental progress, thus the company joined the road of sustainability on a group level. They find third party evaluation a great opportunity to challenge themselves. ALD Automotive Hungary has been assessed by Ecovadis first in 2018, and had been granted a gold recognition level.

Annamária then summarized the basics of the Ecovadis methodology, which follows four topics, environment, labour and human rights, ethics and sustainable procurement. They received a very detailed, up-to-date report on their strenghts and the areas that need improvement, also sharing hints how to improve each area of their company. This way they have a very clear view on where they are and where they are headed to, also receiving a silver medal in 2020.

It is of great importance for them to bring sustainability close to people, their employees, partners and clients, as the presentation was closed with their own CSR programs. Her presentation confirmed, that Corporate Social Responsibility is in the heart of their business.

More and more companies are already making climate commitments for a carbon neutral economy – BCSDH Climate Talks CEO Roundtable Series

The measures taken so far need to improve to achieve a climate-neutral economy, drastic steps and commitments are needed, which was agreed upon during the BCSDH Climate Talks, a series of three business roundtables where companies presented their existing climate commitments and discussed what steps are needed to accelerate the process.

The contribution of the business sector is essential to tackle climate change. They also have a lion’s share to play in times of the pandemic and in restarting the economy at a more sustainable level. Systemic change is needed in value chains, business models, technological innovation, cross-sectoral collaboration and in shaping mind-sets, “business as usual” is no longer acceptable.

The April and May CEO roundtables, organised by BCSDH with the participation of 42 of top executives, presented the results and findings of the Towards Net Zero survey, conducted for the first time in Hungary, on the carbon neutral activities of the domestic business sector. Participating companies shared their climate change mitigation and adaptation commitments, their outstanding business solutions and discussed which leverage measures can help accelerate progress towards carbon neutrality.

Business leaders agreed that carbon neutrality targets can be achieved through targeted action plans based on sound measurement, sharing of existing business solutions and innovation. Avoiding further emissions, minimising current emissions and offsetting were also mentioned as current directions, but increasing transparency, new financing options and working with regulators were also mentioned as further steps.

“Last year showed us the vulnerability of many systems and how interconnected our world is. How health, the environment and the economy are interconnected. We need a more broad, systematic approach to make our world healthier, more resilient and more sustainable. We are seeing sustainability being embedded in more and more companies’ strategies, but we need to focus on key priorities such as ending the climate crisis, halting further loss of natural diversity and tackling dramatically rising inequalities. We must accept that businesses have a key responsibility to lead and drive change to improve our society. Lead with action and collaboratively, in partnership with academia, policy makers, institutions and NGOs,” said Attila Chikán Jr., President of BCSDH, CEO of Alteo Group.

 

 

BCSDH aims to showcase what the business sector can do on climate change and adaptation, how companies can make a real impact, and present exemplary commitments and business solutions that can be easily adapted by other companies at its annual business lunch on 7 October and in a publication to mark the occasion.

“How circular is your company?” – The Circular Economy Academy has been launched

With close to 50 participants, the first day of the Circular Economy Academy kicked-off with the presentation regarding the Circular Transition Indicator (CTI) and the Circularise software, which both ensure the transparency of the circular use of materials throughout the value chain and can be used for the measurement of circularity performance by businesses. The survey on the circular economic potential of Hungary conducted by BCSDH and the Bay Zoltán Research Institute in 2020 confirmed the need for innovation, sharing of business solutions and education. The Academy, modelled on last year’s Circular Economy Webinar series, was launched as a higher-level continuation of education. The three most important topics were identified considering lats year’s webinars, on which the Academy’s program is based. At the first event, an overview of circular measurement systems and practical examples were presented by domestic and foreign experts.

Irén Márta, Managing Director of BCSDH presented the activities of the Circular Economy Platform, as well as international and domestic collaborations, namely the CircularRegions project, the CIRCO project and the Hungarian Circular Economy Strategy. Afterwards, Bálint Horváth, Circular Economy Expert of the Embassy of the Kingdom of the Netherlands, presented the goles, dates and topics of the three webinars of the Academy.

WBCSD and KPMG’s Circular Transition Indicator (CTI) framework and related case studies were introduced to the wider audience by Arnoud Walrecht, Global Lead Circular Economy at KPMG and István Szabó, CEE Head in Sustainability Services, which included the specific metrics, key intervention points and the practical software itself. CTI application is already presently used by companies such as Philips and Microsoft, who used it to report on their level of circularity, and more similar examples are expected to arise.

Denisa Rasova, Manager of the Circular Economy Platform Slovakia presented their work regarding Circular Regions and Circularity measurment tools, namely Circularity Check and Circulytics. The previous one outweighs the latter in its attration of wider audiences, efficiency, and provides more rapid results and has a more specific purpose. While CTI is currently more applicable by larger companies, Circularity Check and Circulytics is a more popular self-assessment tool among smaller businesses.

Mesbah Sabur, founder of Circularise presented their groundbreaking and much needed work, on bringing transparency to another level regarding supply chains, while empowering businesses to take steps towards the transition to a circular economy. Circularise uses a public blockchain system to mimic the physical bounderies of materials regarding production and the supply chain as a whole. All this, while maintaining privacy. For example in collaboration with Porsche, customers have been granted a tool to be thoroughly informed about the sources of the materials used in the products purchased.

Special thanks to our Sponsors:

 

The circular economy is getting closer to companies in the border regions of Slovakia and Hungary. It is brought by the CircularRegions project.

In order for the circular economy to become a common practice in every business, we must show entrepreneurs the way and guide them through the first steps to successful transformation. The CircularRegions project will train trainers and design a service for companies that want to turn their business models into circular ones. This will increase efficiency for entrepreneurs, bring a more stable business and a competitive advantage.

The CircularRegions project

The project was created in response to the need to increase the competitiveness of the border regions of Slovakia and Hungary in order to apply the principles of circular economy across market sectors that have the greatest impact on the quality of life and GDP structure of the affected areas.

The main goal of the CircularRegions project is to establish cooperation between organizations that are members of the circular economy platforms, the Hungarian Circular Economy Platform in Hungary and Circular Slovakia in Slovakia, in order to facilitate the transition of small and medium-sized enterprises (SMEs) to the circular economy.

“Based on the received feedback and current obstacles from various businesses, the top priority of the project is to search for innovative and sustainable solutions to eliminate waste, and further popularize the importance of circular economy” said Janek Bence, partner of the project.

We will guide companies through the transformation to a circular economy

The project implementers will start by analyzing the problems and needs of companies in selected sectors. They will choose the appropriate methodology and tools that transform linear business models into circular ones. They will prepare a training methodology in which they train trainers on the circular economy in cross-border regions. It connects companies with suitable trainers to help entrepreneurs find solutions and recommendations in order to facilitate the implementation of the circular economy in practice. The project focuses on four selected sectors in the food and packaging industry, plastics industry, construction and tourism. Representatives of companies, associations, the non-profit sector, including regional politicians and potential trainers, can get involved in the project.

“The problems that the project has the ambition to solve are the low number of professionals in the field of circular economy and their concentration in capital cities, and at the same time that economic activities related to the circular economy in both regions usually have low added value,” said Andrej Špánik, managing partner at SBA.

The project partners are the Slovak Business Agency, the Institute of Circular Economics, the Business Council for Sustainable Development in Hungary and IFKA Közhasznú Nonprofit Kft. The project is implemented under the Interreg Slovak Republic – Hungary program with the support of the European Union through the European Regional Development Fund and supported by the amount of 182 449.40 euros. The project lasts from December 2020 to March 2022.

You may find more information about the project here.

Contact:

Name: Iren Marta, Managing Director, BCSDH

e-mail address: iren.marta@bcsdh.hu 

Vision 2050: Time to Transform – Leading multinational companies set urgent action agenda for all people to live well, within planetary boundaries

The World Business Council for Sustainable Development (WBCSD) and more than 40 of its members, all major global companies, lay out “Vision 2050: Time to Transform”, with nine pathways to action across industries to ensure a more sustainable and prosperous future.

The world faces three critical challenges: the climate emergency, nature loss and mounting inequality. The COVID-19 pandemic has illustrated that these challenges are interconnected, and that our systems are ill-prepared for shocks. As global risks continue to build, business leaders are rallying behind a bold and urgent transformation agenda developed by the World Business Council for Sustainable Development (WBCSD), a CEO-led organization of over 200 leading companies.

Vision 2050: Time to Transform sets a shared vision of a world in which more than 9 billion people are able to live well, within planetary boundaries, by 2050. To achieve this vision, we need transformation at scale, and business needs to focus its actions on the areas through which it can best lead the systems transformations.

Vision 2050: Time to Transform maps how systems transform and lays out a new framework to guide business action in the decade ahead. At the heart of this framework are nine transformation pathways – actionable routes for companies to take – covering the areas of business activity that are essential to society: energy; transportation and mobility; living spaces; products and materials; financial products and services; connectivity; health and wellbeing; water and sanitation; and food.

The vision and transformation pathways are aligned with the Sustainable Development Goals (SDGs) and the targets of the Paris Agreement. Each of the nine transformation pathways contains ten action areas for the decade ahead, designed to help companies drive transformative change in their strategies, business operations and impact on society.

To move beyond business-as-usual into the accelerated transformations necessary, business leaders must adopt three mindset shifts: reinventing capitalism that rewards true value creation; focusing on building long-term resilience; and taking a regenerative approach beyond doing no harm.
While business can take a leading role, it must work on and design systems transformations, together with scientists, policy makers, financiers and investors, innovators and consumers. Only collaboration at unprecedented levels will create the impact and speed needed to achieve all people living well within planetary boundaries by 2050.

“Vision 2050: Time to Transform should not be read with the idea that tomorrow is going to be much the same as today. This is a report for change, starting now, outlining how business needs to play a leading role. We have no time to waste. Achieving this vision requires a wholesale transformation of everything we have grown up with: energy needs to decarbonize; materials need to go circular; food needs to be produced sustainably and equitably and provide healthy diets”, said WBCSD President and CEO Peter Bakker. “Our future depends on transformation. One of the keys to success will be a mindset shift around capitalism. Our economic systems, incentives, global accounting standards and capital market valuations can no longer just be based on the financial performance of businesses: we must integrate our impact on people and planet as part of how we define success and determine enterprise value.”

The report’s foreword, signed by 42 top executives from WBCSD member companies, makes a collective call to global business, stressing: “Business can lead. Business can forge the collaborations required to drive change. It can… but more than that, it must. It is in business’s interest to pursue the transformations set out in Vision 2050 – because its long-term success depends on thriving societies to trade with, and a healthy planet for us all to exist on.”

The launch of Vision 2050 follows the announcement in October 2020, that WBCSD, together with members, raised the bar of business commitment to sustainability through a set of new criteria put forward as part of WBCSD’s membership conditions. The new criteria also focus on the top three priority sustainability challenges that our society faces: climate emergency, nature loss and inequality.

Additionally, WBCSD expects its member companies to strive to the highest standards in corporate governance and transparency, aimed at enhancing the comparability of data for investors and other stakeholders. Over the coming months and years, WBCSD will continue working together with its members and partners to realize the required transformations and “getting sustainability done”.

For more information, please visit our dedicated Vision 2050 website.

—- Quotes from global business leaders —-

“We find ourselves at a time in history where an aspirational, shared vision is more important than ever before to accelerate the transition to a more sustainable future. To transition towards and achieve truly sustainable development we need a clear picture of where we want to go, and a path to set out on. Through Vision 2050, WBCSD member companies have come together to reset the baseline for business leadership for the decade to come.”
Sunny Verghese, Olam – Co-Founder and Group CEO, Olam International & WBCSD Chair

“Running our businesses well into the future requires us to shift the way we think about business resilience. Vision 2050 underlines how companies must recognize that they are only as resilient as the ecosystems, communities, economies, and societies they operate in, and that true resilience isn’t about withstanding change but instead embracing it.”
Keryn James – Group CEO, ERM

“A real step-change, beyond incremental improvements, is needed to transform society and achieve a more sustainable future, in line with the Paris Agreement. Achieving transformation requires a ramping up of ambition and action among all companies, whether they operate within the energy, healthcare, food, finance, transport or other systems. WBCSD’s Vision 2050 identifies the pathways for each of these systems to deliver wholescale-transformation.”
Remi Eriksen, Group President and CEO, DNV AS

“The COVID-19 pandemic has brought vulnerabilities to the surface, underscoring just how fragile and interdependent many of our most vital systems are. Despite its enormous human and financial cost, the pandemic has also created an opportunity to drive and accelerate change at a completely different pace. We now have a unique but rapidly closing window of opportunity for action – it is time to transform our businesses and societies.”
Nadir Godrej – Managing Director, Godrej Industries Limited

“Vision 2050: Time to Transform provides the business community with a uniquely comprehensive and collective understanding of the business actions needed to support the transformations the world needs. It will now take courage and resilience from us all to make this vision a reality.”
Andrea Álvares – Chief Brand, Innovation, International and Sustainability Officer, Natura

“To lay the foundations for a truly prosperous world for people and planet by 2050, we need to address climate change and employ a truly regenerative mindset. That means thinking and acting systemically and restoring critical environmental and social systems that are in decline.”
Magdi Batato – Executive Vice President, Head of Operations, Nestlé

“Market economies have the potential to help to address the most profound challenges faced by our societies and by our planet. But this requires fundamental change. Our economic and business models, which are designed to deliver financial performance as a priority, must urgently change so that they also address the needs of broader stakeholders and environmental sustainability. Vision 2050 is an important contribution to highlight how this can happen.”
Colm Kelly – Global Leader, Purpose, Policy and Corporate Responsibility, PwC

“WBCSD’s Vision 2050 and its framework for how we can collaboratively build a world in which more than 9 billion people live well, serve as a powerful guiding star for the global business community. It makes clear that this vision is still within reach—but we have to come together and act faster. The decade ahead of us is critical and every day offers the opportunity to drive impact.”
Gayle Schueller – Vice President and Chief Sustainability Officer, 3M

“As we emerge from the pandemic, it is clear the world has changed. We are all responsible for taking actions that will address the critical challenges of the climate emergency, nature loss and mounting inequality we are currently facing. The nine pathways of Vision 2050 will galvanize business to take bold steps that will make a tangible difference to our planet, our people and our communities.”
Dominic Blakemore, CEO, Compass Group PLC

“Vision 2050 – Time to Transform provides specific objectives and pathways to implement strategies and action on sustainable development. Action is the best way to release a manifesto – business takes action, makes progress with stakeholders, and contributes to sustainable development actively.”
Yaofeng Cao, Board Director of Sinopec Corp. & Vice President of China Petrochemical Corp

 

WBCSD member companies that engaged in the development of Vision 2050: Time to Transform were:

3M, ACCIONA, Arcadis, ArcelorMittal, BASF, Bayer, Chanel, DNV, DSM, EDF Group, ENGIE, ERM, EY, Fujitsu, Givaudan, Godrej Industries, Henkel, IFF, Inter IKEA Group, Microsoft Corporation, Mitsubishi Corporation, Natura, Neste Corporation, Nestlé, Olam International, PwC, Rabobank, Banco Santander, Shell, Sompo Japan Insurance Inc., SONAE, Syngenta, The Navigator Company, Toyota Motor Corporation, Unilever, Vale, Volkswagen, and Yara.

Not enough for a carbon-neutral economy. Can the business sector make a greater effort? – Towards Net Nero Survey results

Budapest, 23 March 2021: For the first time, research has been conducted on the status quo of the Hungarian business sector in relation to carbon-neutral operations. The picture is not so bright – although 31% of leading companies already have net zero emissions targets, this figure is below the international benchmarks and below the level required for real change, according to the Towards Net Zero research of the Hungarian Business Council for Sustainable Development (BCSDH), with the professional support of Deloitte.

Achieving net zero emissions is a major challenge of our time, and the research presented at the Net Zero Ambitions Forum, co-organized by BCSDH and the British Embassy, can create a basis for the next steps. At this event, seven of Hungary’s leading companies also presented their related commitments.

“This is the first time in Hungary that a survey has been conducted about the carbon neutrality aspirations and challenges of companies. The results of such timely and valuable research serve as an important guide to defining the most urgent tasks, such as the recognition of the opportunities created by financing, and of reducing and measuring greenhouse gases. Provides guidance on how the transition between the current situation and achieving the desired net zero operations can be accelerated with existing tools” said Irén Márta, Director of BCSDH, in her introduction” said Irén Márta, Director of BCSDH, in her introduction.

Sixty percent of the companies that were surveyed have emission reduction policies, and 30% plan to have one in the next five years. Only 10% said they did not even plan such measures. But only 50% of companies have a specific target for reducing greenhouse gas emissions.

“It’s good to see that BCSDH member companies are at the forefront of setting climate-related goals, but our job is to mobilize a wider business community. Every company is affected by climate change, and every company has the opportunity to positively influence it. The goal is no longer just reducing greenhouse gas emissions but achieving net zero emissions. Research has shown that there is a high level of uncertainty, a lack of knowledge, and often an inadequate allocation of resources within companies. By presenting opportunities and good examples in this area, BCSDH can support its member companies and the wider business environment” – said Attila Chikán Jr., President of BCSDH. “Accelerating the transition to net zero operations requires a broader partnership that includes government and legislative support, and the Net Zero Advisory Board we launched in January can help with this,” he added.

Research has also shown that in order for companies to set real net zero targets, they need to take big steps in terms of measuring emissions and introducing an internal price for carbon. For those who are just starting the process, reducing waste, investing in energy efficiency, switching to renewable energy, and increasing resource efficiency can be the first steps. But it is important to emphasize that we need to go much further than this to create a real net zero-emission economy in Hungary by 2050.

Efforts to achieve the Paris climate targets need to be significantly increased in Hungary and around the world. One of the goals of COP 26 in November is to set targets for achieving net zero in a uniform and scientifically sound way.

“As hosts of the COP26, the UK is working with businesses, governments, and civil society to drive action across key sectors of the economy to reduce emissions, adapt to the effects of climate change and strengthen resilience, while also striving to “build back better” as we recover from the Covid19 pandemic”– highlighted Paul Fox British ambassador, member of the Net Zero Advisory Board.

Seven of the leading companies included in the research presented their specific commitments:

Daikin aims to achieve zero net emissions by 2050. To this end, it is using more energy-efficient, less environmentally damaging technology to create products with longer life cycles. As an important player, Daikin wants to implement the reuse and recycling of refrigerants throughout the industry.

By 2030, all of E.On’s buildings will be carbon neutral, and its fleet will be electric. It undertakes to reduce its carbon emissions by 30% by 2030 and achieve a 50% reduction in terms of customers’ emissions.

Grundfos aims to reduce its own CO2 emissions and its water consumption by 50% by 2025, and the company aspires to become “climate positive” by 2030. By 2030, they will have contributed to providing safely managed drinking water to 300 million people in need. In addition, through water efficiency and water treatment, they will have saved 50 billion m3 of fresh water

K&H Group undertakes to operate in a climate-neutral manner from 2021, and to reduce greenhouse gases by 80% and to switch to 100% green electricity by 2030.

LeasePlan will already be implementing its green fleet by 2021 and aims to further reduce its environmental impact through a number of customer and consumer-oriented measures by 2030.

Nestlé aims to achieve net zero emissions by 2050. It will reduce its emissions by 30% by 2025, and by 50% by 2030. It aims to achieve this target, among other ways, through the use of renewable energy, an electric car fleet, and the introduction of new technologies, packaging materials, and recipes.

SIÓ-Eckes (Eckes-Granini Group) undertakes by 2030 to set Science-Based Targets to help achieve the 1.5o target. It is committed to reducing greenhouse gas emissions by 50%, and switching to the use of 100% R-PET by 2030.

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Race to Zero

The Race to Zero is the UN-led campaign for a zero-carbon world. Close to 1,400 businesses, including the likes of Facebook, Tesco, LafargeHolcim and Magyar Telekom, and 74 of the biggest investors have joined the global Race to Zero campaign, along with over 454 cities, 23 regions, and 569 universities. Businesses of all sizes and across all sectors have a clear role to play in climate action, in line with the Paris Agreement and in the lead-up to the COP26 in Glasgow in November 2021.

Over the coming years, every sector in every market will be transformed as the transition to a low-carbon economy is underway. Committing to the Race to Zero goals of net zero carbon emissions by 2050 is also taking the steps necessary to protect and grow your business by reducing costs, by enhancing access to investor capital, by staying ahead of policies and regulations to limit GHG emissions, by increasing your business’ preparedness to external shocks, and by leading on tomorrow’s innovation and transformation.

For more information on the Race to Zero campaign prior to the event, please turn to the campaign’s global website, which provides information on the paths available for joining the campaign, including the Science Based Targets initiative, and the SME Climate Hub.

Net Zero Business Ambitions Forum – towards net zero – survey results

Businesses for Net Zero:

towards net zero – questionnaire results

CEOs and Sustainability Managers, join us on 23 March

at 3pm CET on MS Teams

We cordially invite you to the Net Zero Business Ambitions Forum organized by the Business Council for Sustainable Development in Hungary (BCSDH) in cooperation with the British Embassy Budapest. The results of the Towards Net Zero survey led by BCSDH and supported by Deloitte will be presented at the event. Moreover 7 company cases will be shared with participants.

Participation is free of charge, but registration is required. Please contact: ivett.takacs@bcsdh.hu

The Race to Zero is the UN-led campaign for a zero-carbon world. Close to 1,400 businesses including the likes of Facebook, Tesco, LafargeHolcim and Magyar Telekom, and 74 of the biggest investors have joined the global Race to Zero campaign, along with over 454 cities, 23 regions and 569 universities. Businesses of all sizes and across all sectors have a clear role to play in climate action, in line with the Paris Agreement and in the lead-up to the COP26 in Glasgow in November 2021.  

Over the coming years, every sector in every market will be transformed as the transition to a low-carbon economy is underway. Committing to the Race to Zero goals of net zero carbon emissions by 2050 is also taking the steps necessary to protect and grow your business by reducing costs, by enhancing access to investor capital, by staying ahead of policies and regulations to limit GHG emissions, by increasing your business’ preparedness to external shocks, and by leading on tomorrow’s innovation and transformation.

For more information on the Race to Zero campaign prior to the event, please turn to the campaign’s global website, which provides information on the paths available for joining the campaign, including the Science Based Targets initiative, and the SME Climate Hub.

Agenda:

15.00Welcome speech – Attila Chikán Jr., President, BCSDH
15:03Opening remarks – Paul Fox, British Ambassador
15:06Towards net zero – Survey results – Iren Marta, Managing Director, BCSDH, Ákos Lukács, Head of Sustainability and Climate Change service line, Deloitte Zrt.
15:26Business Cases

Daikin Hungary Kft. – Balázs Zuggó, Managing Director

E.ON Hungária Zrt. – Zsolt Jamniczky, Member of the Board

Grundfos Magyarország Kft. – Olivér Szundy, Managing Director

Nestlé Hungária Kft. – Péter Noszek, Managing Director

K&H Bank Zrt. –Levente Suba, Business Banking Network Development Head

LeasePlan Hungária Zrt. – Tímea Pesti, CEO

Sió-Eckes Kft. – Ágnes Kovács, Chief Marketing & Innovation Officer Executive Board Member

15:55Closing

 

Information:

The official language of the event is English without interpretation.

Participation is free of charge, but registration is required.

For further information please contact Ivett Takács at ivett.takacs@bcsdh.hu.

 

 

The SBTi Net-Zero Criteria has been launched for Public Consultation until March 12th 2021

We invite you to provide your feedback, opinions and comments on a global standard for net-zero criteria.

Please find the draft criteria (including instructions on commenting and the consultation process) below:

Additional resources:

“The time has come for stakeholder capitalism – a global economy for progress, for people, and for the planet” – Peter Bakker, President-CEO of the World Business Council for Sustainable Development, in an inspiring speech to corporate leaders.

Budapest, February 23, 2021: Following last year’s regional consultation, the General Assembly of the Business Council for Sustainable Development in Hungary (BCSDH) hosted Peter Bakker, President-CEO of WBCSD, as guest speaker, who gave a presentation on “Making stakeholder capitalism real and rewarding” to nearly 100 CEOs.

BCSDH, which now has 102 leading member companies, has defined the goals for 2021 of supporting its members and the business sector to achieve climate-neutral operations, to meet biodiversity restoration objectives, to promote inclusion, equality and diversity, and to create a corporate culture and way of operating that maximizes respect for business human rights and involves the highest levels of transparency.

“2020 was marked by the dynamic development of BCSDH, and the membership of important financial players continued to increase the strength of the organization. In 2021, we need to find ways to create more resilient, inclusive, and sustainable economic growth. We must step up the fight for climate protection and adaptation, we must achieve carbon neutrality, and we must give priority to creating a net zero-emission economy and a net zero-emission Hungary” – explained Attila Chikán Jr., President of BCSDH.

In light of this, the focus of BCSDH’s professional program in 2021 will be the Race to Zero program, the primary goal of which is to facilitate and accelerate the process by which the Hungarian economy can become carbon-neutral by 2050, thus taking an important step towards stopping climate change. To facilitate this, BCSDH has established the Net Zero Advisory Board. The aim of the Board is to enable wide-ranging cooperation, help coordinate programs, to scale up impact, and accelerate the related processes. This can be achieved because the program also includes scientific, regulatory, and economic actors.

“The members of the Board are renowned professionals who, through their expertise and recognition in their respective fields, can make a real impact together. This special cross-sectoral partnership aims to give greater impetus to the transition to a carbon-neutral economy by exploiting synergies” – said Irén Márta, Director of BCSDH.

“We have less than ten years to get the pathways of transformation on track for a net-zero and nature-positive economy. Moreover, the pandemic and growing social unrest around the world have made it clear that this vision can only be realized if we put people and communities at the center of our thinking and actions. Leaders will be the key differentiators for success or failure” – highlighted Peter Bakker.

To support fundamental system-level transformation, WBCSD will present an updated version of Vision 2050 on March 25 that defines a roadmap for priorities for the next critical decade. In 2020, at the initiation of BCSDH, Hungary was able to host the WBCSD Central and Eastern European Regional Consultation, at which business leaders, regional leaders, and leaders of professional organizations discussed the role of companies in the implementation of Vision 2050. In line with the results of this work, Peter Bakker, President-CEO of the WBCSD, gave a presentation at the organization’s general meeting.

“Sustainability is no longer an ancillary factor, but it is placed squarely at the heart of meetings with stakeholders. We need to act faster, together, to lead the critical transformations in the coming decade. Business plays a central role in driving and delivering the actions, innovations, products and services that are required to transform our economic systems”- highlighted Peter Bakker.

The general Assembly has approved the organization’s 2020 professional and financial report and 2021 plans. The leaders of the newly joined companies also introduced themselves.

Peter Bakker

President and CEO of the World Business Council for Sustainable Development (WBCSD

 Mr Bakker has led WBCSD since 2012. WBCSD is a global, CEO-led organization of over 200 leading businesses working together to accelerate the transition to a sustainable world. WBCSD member companies come from all business sectors and all major economies, representing a combined revenue of more than USD $8.5 trillion and with 19 million employees.

Mr Bakker is a distinguished business leader who, until June 2011, served as CFO and then CEO of TNT NV, the global transport and logistics company. He has been recipient of the Clinton Global Citizen Award (2009) and the Sustainability Leadership Award (2010). Mr Bakker serves as a member of several corporate sustainability advisory boards. He received the royal order Officer of the Order of Orange-Nassau in 2018, in recognition of his long-lasting commitment to engaging business in tackling global sustainability issues.

Davos Agenda 25-29. January, 2021 – Join the conversation

The COVID-19 pandemic has demonstrated that no institution or individual alone can address the economic, environmental, social and technological challenges of our complex, interdependent world. The pandemic has accelerated systemic changes that were apparent before its inception. The fault lines that emerged in 2020 now appear as critical crossroads in 2021. The time to rebuild trust and to make crucial choices is fast approaching as the need to reset priorities and the urgency to reform systems grow stronger around the world.

The Davos Agenda is a pioneering mobilization of global leaders to shape the principles, policies and partnerships needed in this challenging new context. It is essential for leaders from all walks of life to work together virtually for a more inclusive, cohesive and sustainable future as soon as possible in 2021.

An entire week of global programming will be dedicated to helping leaders choose innovative and bold solutions to stem the pandemic and drive a robust recovery over the next year.

The event is taking place virtually on 25-29 January 2021.

Here is WEF’s guide on how to follow #DavosAgenda on their digital channels.

Join the conversation

Livestream

You can watch the livestreamed sessions here. All sessions will be captioned in English.

Twitter

The official meeting hashtag is #DavosAgenda. Follow tweets on this hashtag to keep up with everything going on in the meeting.

Facebook

Follow WEF page for daily updates, livestreamed sessions, and video highlights from the event: wef.ch/facebook.

Linkedin

Top stories, highlights and more will be uploaded to WEF page. Follow the meeting here: wef.ch/linkedin. Join the LinkedIn event here.

Instagram

Key photographs, reels, stories and quizzes from the event will feature: wef.ch/instagram

YouTube

Livestreamed sessions and video roundups will be uploaded to WEF YouTube channel: wef.ch/youtube

Podcast

Subscribe to The Great Reset for daily coverage.

TikTok

Follow WEF account on TikTok: wef.ch/tiktok

Business Council for Sustainable Development in Hungary
1118 Budapest, Ménesi street 9/a.

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