IDB sees role for private sector in promoting sustainable development

Inter-American Development Bank President Luis Alberto Moreno on Monday called on firms to adopt innovative means for including disadvantaged people in the workforce, and making them partners across the value chain.

Moreno spoke during CSRAmericas 2012, the region’s leading annual event on corporate social responsibility. He also stressed the importance of innovation for developing growth models that do not rely on the intensive use of natural resources.

CSRAméricas, which is organised by the Multilateral Investment Fund (MIF), a member of the IDB Group, this year focuses on the theme Value Chains and Skills: Opportunities for Impact. The event highlights strategies for integrating small-scale distributors and suppliers into agricultural value chains, and on investments that companies can make in improving job skills as an important way to promote sustainable and inclusive business development.

“At the IDB, we believe that finding innovative approaches in the region that are comprehensive and effective in combating poverty and promoting equitable growth, and which are sustainable and competitive, requires the combined efforts of many actors,” said Moreno.

“With support from the MIF and our Office of Outreach and Partnerships, we work with companies that share a vision and sense of responsibility for meeting the challenges of continued expansion of access to services and products.”

The CSRAmericas inauguration was attended by President Moreno and the Ecuadorian President Rafael Correa as well as more than 700 business leaders from more than 30 countries.

During the opening ceremony, Correa said corporate social responsibility should be implemented under four ethical perspectives: with workers, consumers, communities and the state, and the environment. Correa thanked Moreno for the reforms implemented in the bank, which he described as extremely important.

Plenary sessions, roundtables, and networking opportunities being held during the two- day CSRAmericas event are providing many opportunities for participants to learn how to integrate new knowledge and practices into their daily operations, and hear about the latest trends in corporate social responsibility. Panelists include executives from Coca- Cola, Telefónica, Odebrecht, Nestlé, DHL, Cemex, Pepsico, Arcos Dorados, and many other companies.