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Market Movers: Lessons from a Frontier of Innovation (December 2007)

Market Movers: Lessons from a Frontier of Innovation (December 2007)

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Published by IFC Sustainability
Companies from emerging economies are increasingly making their presence felt in the global business community. Not only are they acquiring more and more companies in the developed world, but they are also pursuing strategies that are highly competitive with those of established businesses in western markets.

Market Movers: Lessons from a Frontier of Innovation explores whether such emerging economy firms are also managing to embed sustainability in their business strategies in ways that stand comparison with companies anywhere else in the world. It tells the stories of four firms ranging across the globe from Beijing to Sao Paulo – in many cases operating in some of the most challenging environments in which to foster commercial success – and how they have found business value in strategies based on sustainability.
Companies from emerging economies are increasingly making their presence felt in the global business community. Not only are they acquiring more and more companies in the developed world, but they are also pursuing strategies that are highly competitive with those of established businesses in western markets.

Market Movers: Lessons from a Frontier of Innovation explores whether such emerging economy firms are also managing to embed sustainability in their business strategies in ways that stand comparison with companies anywhere else in the world. It tells the stories of four firms ranging across the globe from Beijing to Sao Paulo – in many cases operating in some of the most challenging environments in which to foster commercial success – and how they have found business value in strategies based on sustainability.

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Categories:Types, Research
Published by: IFC Sustainability on Jun 28, 2009
Copyright:Attribution Non-commercial

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07/10/2013

 
Market Movers
Lessons froma Frontier of Innovation
A companion piece to
Developing Value: 
The business case for sustainability in emerging market
 
2
ACKNOWLEDGEMENTS
IFC Team
Richard CainesMaria GallegosRachel KyteVanessa ManuelPiotr Mazurkiewicz
SuSTaInabIlITy Team
Kelly CruickshankIvana GazibaraKavita Prakash-ManiMichael SadowskiJodie ThorpePeter Zollinger
ProjeCT advISory GrouP
Melissa Brown, Executive Director,Association or Sustainable andResponsible Investment in Asia(ASrIA)George Dallas, Managing Director,Standard & Poor’sWilliam Frater, independent, ormerSenior Analyst o Frater AssetManagementDr. Subir Gokarn, Executive Directorand Chie Economist, CRISILDr. Aileen Ionescu-Somers, DeputyDirector, Forum or CorporateSustainability Management, IMD
amanCo HoldInG InC.
Andreas Eggenberg, ormerExecutive Director, AmancoAgricultural SolutionsJuan Luis Gomez, ormer BusinessAnalyst, Amanco AgriculturalSolutionsJorge Ramirez, Financial DirectorRoberto Salas, CEO
beIjInG deqInGyuanaGrICulTural TeCHnoloGyCo. lTd.
Liu Xumin, Environmental ManagerWen Nanying, Human ResourcesManagerZhang Wenjiang, Financial ManagerZhong Kaimin, Chairman and CEO
jubIlanT orGanoSyS lTd.
Shyam Bang, Executive Director,Manuacturing and Supply ChainShyam S. Bhartia, Chairman andManaging DirectorAshok Ghose, Chie o Environment,Health & SaetyP. Ravishankar, President, HumanResourcesR. Sankaraiah, Executive Director,FinanceRajesh Srivastava, President, FineChemicals and CRAMS
maS HoldInGS
Ajay Amalean, Managing Director,MAS Corporate SolutionsMahesh Amalean, ChairmanRavi Fernando, Director, CorporateBranding and Strategic CSRKamani Jinadasa, Manager,Women’s Empowerment and GoBeyondDave Ranasinghe, Joint ManagingDirector, MAS IntimatesSharmini Ratwatte, Director, MASInvestmentsDeepthi de Silva, Director, GroupHuman Resources
In addition, we gratefullyacknowledge the comments, inputand company nominations from:Rajni Bakshi, freelance writerJeremy Baskin, Programme forIndustry, University of CambridgeCecilia Bjerborn, IFCAndrea Castro, FundaciónPROhumanaAimilios Chatzinikolaou, IFCAnne Copeland Chiu, IFCMaría Emilia Correa, GrupoNuevaDeborah Feigenbaum, IFCNicholas Flanders, IFCAndre Fourie, National BusinessInitiativeMiguel Angel Gardetti, Instituteof Studies for CorporateSustainabilityLouise Gardiner, IFCLucie Giraud, IFCDr. Aditi Haldar, Confederation ofIndian IndustryJonathan Hanks, IncitePaul Kapelus, African Institute forCorporate CitizenshipRitu Kumar, ActisDana Lane, IFCJoan Midthun Larrea, GlobalEnvironment FundClarissa Lins, Brazilian Foundationfor Sustainable Development(FBDS)Mike Lubrano, IFCMalini Mehra, Centre for SocialMarketsViraf Mehta, Partners in ChangeMario Monzoni, Center forSustainability Studies, FundaçãoGetulio VargasJulio Moura, GrupoNuevaKhurram Naayaab, Partners inChangeFei Pei, IFCTarcila Reis Ursini, EkobeSarah Ruck, IFCEnrique Sanchez-Armass, IFCRobin Sandenburgh, IFCKalim Shah, IFCBernard Sheahan, IFCSameer Kumar Singh, IFCSimon Winter, TechnoServe Inc.Finally, we are deeply gratefulto Lijian Zhao, who stepped into help us with the case studyresearch and to Tim Hindle, whoso eloquently turned our thoughtsinto words.
mkt ms
IFC and SustainAbility have been the stewards o the Market Movers project, but we are indebted to manyothers, notably our project advisory group, the interviewees rom the case study companies and our colleagues,without whom the content would have been less rich, i not impossible to write. It is thus with enormousgratitude that we would like to acknowledge:
 
Market Movers
Corporate pioneers are using sustainability to createbusiness opportunities in emerging economies
How can business combine long-term success with sustainability – with demands for a healthy environment and a just society? Few chiefexecutives would admit that this question was not near the top of theiragenda. And it is not just of concern to boardrooms in London and NewYork. According to a World Economic Forum CEO survey, sustainabilityhas emerged as a challenge for companies globally, with some of themost innovative practices undertaken in developing countries.
1
Market Movers 
tells the stories of a number of firms in emergingeconomies that have managed to find business value in strategiesbased on sustainability. The firms are driven by world-class businessleaders and range across the globe, from Beijing to Sao Paulo – in manycases operating in some of the most challenging environments in whichto foster commercial success. The report goes on to draw some lessonsfrom their experiences and to make recommendations as to how otheremerging-market businesses might create value from sustainability.While we recognise that any measure of the value added either totheir bottom line or to society by businesses’ sustainability strategies isnecessarily imprecise, it is none the less real for that. In all our cases thereis a close correlation between sustainability and business success, evenif there is no irrefutable evidence of causation between the two. Theentrepreneurs who built up these companies invariably attest to it.This report is a companion piece to
Developing Value: The BusinesCase for Sustainability in Emerging Market
published in 2002 by theInternational Finance Corporation (IFC), SustainAbility and the EthosInstitute. It was the first large-scale study to examine specifically therisks and opportunities of sustainability for businesses across emergingeconomies. At that time, there was a widespread assumption that goodgovernance and corporate responsibility were the almost exclusivepreserves of western corporations. Yet the report found that manybusinesses in emerging economies were gaining benefits (such as highersales, reduced costs and lower risks) from better corporate governance,improved environmental practices, and investment in social and economicdevelopment.Throughout the case research we have used the same conceptualunderpinnings as in this earlier report. Unlike that report, however, wherewe focused our analysis on specific actions and investments, here we lookat enterprises as a whole, seeking examples where sustainability has beenintegrated into business strategy. The aim is to show by example thatsustainability strategies can work almost anywhere in the world.
FOREWORD
3
Perceiving social responsibilitas building shared value rather than as damage control or as a PR campaign will require dramatically different thinking in business. We are convinced,however, that CSR will become increasingly important to competitive success.” 
Michael Porter and Mark Kramer (
Harvard Business Review 
, December 2006)
A note on language
Discussions around sustainabilityand business strategy arefrequently confused by thelanguage being used. In
Market Movers 
, we have provided aglossary (see page 46) to helpreduce any such confusion.But in general we use the term‘sustainability’ to refer to abusiness approach that createsvalue by embracing opportunitiesand managing risks derivedfrom environmental, socialand governance issues. Manyinvestors, however, prefer theacronym ‘ESG’. So we use thatterm also, as and when it seemsappropriate.
Market Movers
1
World Economic Forum,
Responding to the Leadership Challenge: Findings of a CEO Survey on Global Corporate Citizenship,
2003.

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