
The World Business Council for Sustainable Development has over 200 international companies as its members. This UK-based organization was formed at the Earth Summit 1992 held in Rio de Janeiro. It also partners with over 60 national and local business councils.
Wbcsd was formed when the post of chief adviser for business and industry to the secretary general of the UNCED was handed over to Stephan Schmidheiny, an entrepreneur of Swiss origin. Later he founded a firm called "Business Council for Sustainable Development" initially, which changed its form with time. This firm popularized the term "eco-efficiency."
The Business Council for Sustainable Development and the World Industry Council for the Environment were combined to form the WBCSD in 1995, which has offices in New York and New Delhi. The WBCSD is headquartered at the Maison de La Paix in Geneva, Switzerland.
What World Business Council for Sustainable Development do?
The council focuses on a range of sustainable development-related problems. It aims to change six economic systems in order to accomplish the Sustainable Development Goals (SDGs). The circular economy is one of them, along with Cities and Mobility, Climate and Energy, Food, Land, and Water, People, and Redefining Value. Each system transformation is organized as a WBCSD Program with several auxiliary Projects.
WBCSD Impact
The WBCSD was named one of the "most influential forums" for businesses on corporate social responsibility (CSR) concerns in a 2003 World Bank and IFC-commissioned research. The WBCSD was ranked as the second most productive SD research organization in a 2004 Globescan assessment. According to the same company's 2006 study, 54% of all professionals questioned, think that the WBCSD will play a "major role" in achieving sustainable development. Only the European Union (69% approval) scored a better rating.
WBCSD President Bjoern Stigson was ranked ninth on the Ethisphere Institute's list of the 100 Most Prominent People in Business Ethics for 2007, making him the second renowned NGO leader.
Conclusion
The World Business Council for Sustainable Development (WBCSD) is a UK-based organization founded in 1992. It comprises over 200 international companies and partners with 60+ business councils. WBCSD focuses on transforming six economic systems to achieve the Sustainable Development Goals (SDGs), including circular economy, cities and mobility, climate and energy, food, land and water, people, and redefining value. Recognized as influential in corporate social responsibility, it has been praised for its research and is seen as playing a major role in sustainable development.
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