Taxes and subsidies often promote unsustainable behaviour. Unnecessary regulations can hinder the efforts of businesses to promote sustainable development. Some Governments and cultures discourage stakeholder and outreach initiatives on the part of industry. Economic, social and legal frameworks often run counter to sustainability. The business community identified several priority areas.
Sustainability requires a long-term view.
Mutual trust among all stakeholders is essential for sustainable development. This requires transparency and commitments involving principles, report and review, and verification. Sustainable development requires cooperation involving all sectors. All business and industry, not just large multinationals, must adopt sustainable development principles. Government must provide the necessary framework for businesses to meet the needs of society and protect the environment.