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News - 5 December 2008

ACADEMIC LEADERS FROM 43 COUNTRIES RENEW COMMITMENT TO RESPONSIBLE MANAGEMENT EDUCATION

UN SECRETARY-GENERAL BAN KI-MOON STRESSES NEED TO ROOT TRAINING OF FUTURE BUSINESS LEADERS IN PRINCIPLES OF CORPORATE CITIZENSHIP (New York, 5 December 2008) – Calling for a stronger focus on the long-term sustainability of business, educators and administrators representing 170 business schools and other academic institutions from 43 countries have reaffirmed their commitment to the Principles for Responsible Management Education, a UN-backed initiative launched in 2007 to mainstream corporate responsibility in curriculum development, research and advocacy. The more than 260 academic leaders, as well as representatives of business, civil society and the United Nations, gathered at UN Headquarters in New York on 4-5 December for the First Global Forum for Responsible Management Education, which was organized by the PRME Secretariat and hosted by the United Nations Global Compact in collaboration with the Research Center on the Global Compact at the Levin Institute of International Relations and Commerce of New York. In a series of plenary presentations and breakout sessions, the two-day Forum discussed the role of corporate responsibility in management education, presenting both practice cases and new research from leading institutions. At the Forum the main traits of the “Sharing Information on Progress” (SIPs) that PRME participating institutions will publish periodically in the future as public disclosure concerning their implementation of the Principles were defined. Also a high number of projects and activities to be undertaken in 2009 by participating institutions for the advancement of the Principles were presented. In an outcome statement adopted at the Forum, stressed the critical role of business schools as “agents of change” and pledged to place environmental, social and governance issues at the core of curriculum development for management education. “The current crisis has reinforced our view that the long-term viability and success of business will depend on its capacity to manage environmental, social and governance concerns and to create sustainable value through innovation and new business models adapted to a changing global environment”, the statement read. Participants further committed to intensify research, advocacy and awareness-raising efforts. UN Secretary-General Ban Ki-moon, addressed the closing plenary of the Forum, encouraging management educators to work together to “ensure that management science is rooted in the concepts of sustainability and corporate citizenship”. “As teachers, you can ensure that tomorrow's leaders understand that the long-term growth of a business is tied to its environmental and social impact. As scholars, you can produce research tat drives innovation and helps management to recognize the benefits of being a responsible business. And as thought leaders and advocates in your communities, you help advance awareness of broader challenges, opportunities and responsibilities”, the Secretary-General said. The proceedings of the Forum will be available in a Report to be published by the PRME Steering Committee About the Principles for Responsible Management Education Launched in 2007, the Principles for Responsible Management Education (PRME) provide framework for academic institutions to advance corporate social responsibility through the incorporation of universal values into curricula and research. The PRME is coordinated by a Steering Committee constituted of the Association to Advance Collegiate Schools of Business (AACSB International), the European Foundation for Management Development (EFMD), the Aspen Institute’s Business and Society Program, the European Academy for Business in Society (EABIS), the Graduate Management Admission Council (GMAC), the Globally Responsible Leadership Initiative (GRLI), Net Impact and the United Nations Global Compact. www.unprme.org For additional information, please contact the UN PRME Secretariat at PRMESecretariat@unprme.org

05 Dec 2008

GLOBAL FORUM FOR RESPONSIBLE MANAGEMENT EDUCATION CAN RAISE BAR FOR BUSINESS EDUCATION, INSPIRE RESPONSIBLE BUSINESS MANAGEMENT, SAYS UN SECRETARY-GENERAL, BAN KI-MOON

5 December 2008 – Nearly 180 business schools from around the world have now signed up to a United Nations-backed initiative aimed at steering tomorrow’s captains of commerce into conducting more ethical and inclusive business practices. The Principles for Responsible Management Education, established by the UN Global Compact last year, commits the business schools to including values of corporate responsibility in such fields as human rights, fighting corruption and the environment in their curricula. Speaking today to the conclusion of a forum in New York on the initiative, Secretary-General Ban Ki-moon welcomed what he described as the “significant progress” over the past year and a half towards increasing business’ schools participation. He said all the participating schools “can shape generations of business leaders and help bring to life our shared vision of a sustainable and inclusive globalization that benefits the greatest number of people, including the poor.” He added: “As teachers, you can ensure that tomorrow’s leaders understand that the long-term growth of a business is tied to its environmental and social impact. “As scholars, you can produce research that drives innovation and helps management to recognize the benefits of being a responsible business. And as thought leaders and advocates in your communities, you help advance awareness of broader challenges, opportunities and responsibilities.” The Global Compact, set up in 2000, is a UN-created alliance in which participating businesses pledge to align their operations and strategies with 10 universally accepted principles in the areas ranging from human rights and labour to the environment and anti-corruption practices. Close to 5,000 companies in 130 countries belong to the Compact, which aims to ensure that business helps markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere. The Secretary-General told participants that the educational training they deliver, which advocates corporate responsibility in finding solutions to urgent environmental and social challenges, support the broader goals of the UN.

05 Dec 2008

Outcome statement of the Global Forum for Responsible Management Education stressed critical role of business schools as "Agents of Change"

In an outcome statement adopted at the Forum for Responsible Management Education that took place at UN Headquarters in New York on 4-5 December, it was stressed the critical role of business schools as “agents of change” and pledged to place environmental, social and governance issues at the core of curriculum development for management education. “The current crisis has reinforced our view that the long-term viability and success of business will depend on its capacity to manage environmental, social and governance concerns and to create sustainable value through innovation and new business models adapted to a changing global environment”, the statement read. Participants further committed to intensify research, advocacy and awareness-raising efforts.

05 Dec 2008

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