KPMG International has released a roadmap report to help businesses understand the central themes and potential impacts of the United Nations' Rio+20 Earth Summit taking place in Brazil June 18-22, 2012.
The report, Sustainable Insight: Road to Rio, provides a perspective on the likely outcomes of the Summit, as well as practical information for businesses planning to attend. It acknowledges that while binding agreements may be off the table, the Summit can help reinforce a growing trend toward sustainable development, and help build momentum and opportunities in a green economy. The report also includes a set of business recommendations on sustainable growth, forged during a KPMG International-sponsored summit on the topic in February.
John Hickox, a partner in the U.S. audit, tax and advisory firm KPMG LLP and the Americas leader for Climate Change & Sustainability, pointed out that the collective voice of business leaders remains a critical component in the discussion around sustainability issues.
"The role of business is crucial if long-term economic growth is to be safeguarded," said Hickox.
Hickox points out that the new report from KPMG builds on the recent study, Expect the Unexpected: Building Business Value in a Changing World, which identified 10 "megaforces" such as climate change, energy and fuel volatility, and water scarcity that will significantly affect corporate growth globally over the next two decades.
"A successful outcome of Rio+20 for business would be to learn of the direction governments will take to implement sustainability policies. Business leaders will capitalize on the opportunities of a changing marketplace, if they understand the regulatory landscape," said Hickox. "Indeed, many already are making the most of sustainable business practices."
Business leaders need to develop a solid understanding of their business profile in relation to the full system of sustainability megaforces so they can understand where to act in minimizing their risks and maximizing their opportunities.
Yvo de Boer, KPMG International's Special Global Adviser on Climate Change and Sustainability, says strong headwinds exist for Rio+20 in delivering concrete and binding outcomes.
"My sense is that Rio+20 will mark the start of a broader global approach to sustainability, expanding the historical focus on climate change and carbon. I expect it will quietly initiate action on a range of sustainability issues that will have significant implications for business."