October 19, 2021
Introduction
The session was an informal round to discuss and dig deeper into what has already been shared during the day from an academic point of view. The panel consisted of scholars who practically dissected the sessions during the day and highlighted what stood out for them.
Panellists noted the increasing environmental challenges. They stated that collaboration came in different sorts. They shared that Environmental challenges have shown us that we are all in this together. COVID-19 and the environmental concerns have been instrumental in showing how interconnected we are. There is a need for non-traditional forms of collaboration, public and private sector in a more positive way. We will need more collaboration on a global level.
Information flow was cited. There was a need noted for sustainable stock exchange and metrics that help investors make better investment decisions. Firms must ensure more transparency in reporting. There must be some balance in terms of regulations. Panellists posed a question on how to best provide market driven incentives for green businesses. They noted this could be handled in better incentivising FDI and FDI treating.
One other issue noted was the idea of data collection on a global level and UNCTAD was stated to have history in that regard. Taking on the challenge of data collection was noted as a challenge that came with FDI technology. The Panellists noted that we do not make the most of what we already have. This they said poses a challenge and a huge opportunity for International organisations.
Panellists reflected on how much are individual firms willing to take for themselves either with collaboration with others, in terms of sustainable development. They noted that countries are focusing on what needs to be done. They mentioned that if firms are serious about wanting to do something in terms of sustainable development, they should be ready to accept any restrictions by countries, they could also self-regulate. Panellists reflected on whether US based firms will be policing environmental policies that institutions in the US are unwilling to decide. This they said could be a key scholarly point.
Panellists also stated that investing in sustainable development is very important. We must make investment work- investment for inclusion. They also noted the need to look at the role of transparency. They reflected on how we can make multinationals more transparent.
Opening
- John Dilyard, Director, St. Francis College’s Honors Program
On the panel were
- Shasha Zhao, Surrey University Business School
- Lilac Nachum, Professor, Baruch College