CHOGM business forum focuses on sustainability in development

Malcolm Preston, the Global Head of Sustainability of PWC, UK, told the audience attending today’s business forum that sustainability is part and parcel of a successful business. “If you ignore sustainability, you become worthless,” he said.

He insisted that sustainable growth is a business sense, not philanthropy.

Sir Sherard Cowper-Coles, an advisor to the Chairman of HSBC UK, insisted that the transition to a sustainable growth could only be possible if enterprises embed these values in their day-to-day practice.

Addressing the business forum - Commonwealth Vision for Sustainable Growth – Sir Cowper-Coles said that banks help people to materialize their dreams. He said that while as a bank, they are proud of what they managed to achieve, they realize that there is still a long way to go.

“Banks are an active participant in the transition in human development”, he added. 

Earlier this year, HSBC announced a billion dollar green fund while HSBC Paris opened a half a billion dollar Green Bond.

“Sustainable finance is the base on which every business principle is built. Clean waters, green energy and climate change are all very important, but the process needs to be paid for. We must mainstream sustainability for business to grow.”