amfori President Speaks about the Impact of Climate Change at the 2nd Vietnam Symposium in International Business

28-07-2021

 

On 22 July, amfori’s President Richard (Dick) Dictus gave a keynote speech at the 2nd Vietnam Symposium in International Business organised by the Association of Vietnamese Scientists and Experts and Banking University Ho Chi Minh City on the impact of climate change on sustainable supply chains.

The event was the first of a webinar series aiming to provide a platform for high-level experts, practitioners, and policymakers to exchange knowledge on international trade policy and the impacts of globalisation.

During his keynote, Richard shared amfori’s viewpoints on how climate change has and will impact all aspects of sustainable global supply chains:

  • Climate change is happening and is already having an adverse effect on the Planet. It is a high time to address the impact of climate change and that without urgent action by all parties, the aspirations of the Paris Climate agreement may slip from our collective grasp.
  • Extreme weather events will increase business costs by about 20 percent and may affect as much as 70 percent of all businesses world-wide. However, climate change will offer new business opportunities, especially for early adopters of circular business models, and those who will climate proof future investments.
  • Consumers, while remaining price conscious, are already exercising clear demands for sustainable products and have started to hold corporations world-wide accountable for their impact on people and planet. Ultimately, businesses will accommodate to customer demand by economic necessity.
  • The 2030 Agenda has five critical dimensions: people, prosperity, planet, partnership, and peace. It is possible to add an extra one to the list: profit as a global accelerator for progress.
  • Looking into technological solutions and investments that help mitigate the impact of climate change will be essential. Vietnam has already understood as much, and it has shown a clear policy commitment to translate its vision into a practical action plan
  • Mitigation of and adaptation to climate change will require collaboration at every level of global value chain, to achieve continuous improvement while avoiding new trade barriers emerging in the guise of climate action. This is the core value and mission of amfori

In response to the questions raised about the challenges of different economies’ development paces and limited resources of SMEs amidst the growing impact of climate change, Richard reiterated that amfori is committed to partnering with stakeholders and supporting its members to attain a profitable outcome that supports People, Plant and Prosperity.

Further reading:

Environmental Due Diligence: Key Takeaways from Multistakeholder Workshop

Sustainability Disclosure Becoming the Norm

Join the EU Green Consumption Pledge Initiative