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1 November 2012 - Private businesses, which play a crucial role in achieving sustainable development, must boost their efforts to integrate sustainability principles into their operations, United Nations Secretary-General Ban Ki-moon stressed during his trip to the Republic of Korea (ROK) this week.

"It is time to take corporate sustainability to the next level," Mr. Ban said in his remarks at the World Business Council for Sustainable Development annual meeting in Seoul on Tuesday. "We need companies everywhere to deliver value not just financially - but also in social, environmental and ethical terms - to look at the quadruple bottom line - and to report publicly on results and progress."

Mr. Ban underlined the importance of the business community and governments recognizing that working on projects for the common good also benefits companies' profits, making it essential that they contribute to sustainable development efforts.

"Market disturbances, social unrest, ecological devastation, and natural man-made disasters - near and far - directly affect your business - your supply chains, capital flows, your employees and your profits," Mr. Ban said. "You see that your ability to innovate and grow depends on collective systems that support peace, prosperity and basic human freedoms."

Mr. Ban emphasized that a significant shift needs to occur in businesses worldwide, in which they consciously embrace sustainability principles and incorporate them into their operations everywhere. He added that governments must also encourage this shift with the right incentives.

In his remarks, the Secretary-General highlighted the UN Global Compact initiative, which counts with some 7,000 corporate participants in 140 countries which have committed to integrate universal principles on human rights, labour, environment and anti-corruption into their operations.

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