Business for Peace explained

The Business for Peace Foundation
Type:Non-profit
NGO
Founded:April 2007
Founder:Per Leif Saxegaard
Key People:Marius Døcker, managing director
Location:Oslo, Norway
Fields:Global search for Honourees, supporting related research, presentation of award, media relations
Services:Building awareness of the benefits of businessworthy conduct
Homepage:www.businessforpeace.org

Business for Peace Foundation (BfP) is a non-profit foundation based in Oslo, Norway. Formed in 2007 by Per Leif Saxegaard,[1] [2] the Foundation defines its mission as being "to recognise, inspire, and accelerate businessworthy leadership."[3] It encourages ethical and responsible business practices that are value-driven with the goal of building trust, stability and peace worldwide.[4] [5] As of 2019, Marius Døcker became the Foundation's Managing Director.[6]

Each year, the Foundation organizes the Oslo Business for Peace Summit, which concludes with the presentation of the Oslo Business for Peace Award. Since 2009, the award has been given to up to seven honourees, business leaders "whose actions and commitments are making an outstanding contribution to the promotion of ethical behavior and peace".[7] Honourees are selected by an independent committee made up of recipients who have won either the Nobel Peace Prize or the Nobel Memorial Prize in Economic Sciences. The Oslo Business for Peace award is sometimes referred to as the “Nobel Prize of Business”.[8]

Formation

The Business for Peace Foundation was founded in Oslo, Norway in 2007 by economist Per Leif Saxegaard. The Foundation organizes the yearly Oslo Business for Peace Summit. In 2009, the Oslo Business for Peace Summit first presented the Oslo Business for Peace Award.

In 2013, the Business for Peace Foundation partnered with the United Nations' Business for Peace (B4P) initiative, sponsored by United Nations Secretary-General Ban Ki-Moon. The UN initiative has supported international efforts such as the UN Global Compact Ten Principles for achieving peace[9] and the Sustainable Development Goals (SDGs).[10]

Former secretary-general of the United Nations Kofi A. Annan has stated that "It is important to inspire and encourage businesspersons to be conscious of the role they can play as individuals to foster stability and peace. I think the idea behind the Oslo Business for Peace Award, and the potential impact it may have, is inspiring".[11]

Being Business-worthy

The Business for Peace Foundation encourages the private sector to follow responsible business practices. The Business for Peace Foundation promotes the concept of being "business-worthy", “ethically creating economic value that also creates value for society.” Such an approach seeks to raise business practices from short-term win-lose dynamics to fulfilling longer-term win-win business aims and building trust between the stakeholders and communities involved.[12]

Saxegaard has said that he finds inspiration in this quote from Adam Smith:[13]

Business-worthy leaders are expected to serve as models to society who will inspire other decision makers to direct their business activities in accordance with business-worthy principles. Business for Peace honourees have been studied to better understand their ethical leadership qualities and their potential role as drivers of change in peacemaking, peacekeeping, and peacebuilding. They tend to follow ethical business practices such as (1) emphasizing shareholder returns for the promotion of jobs, economic development, and reductions in poverty (2) following the rule of law, avoiding corruption, recognizing contract and property rights, and engaging in dispute resolution; and (3) building community both externally as socially responsible corporate citizens, and internally through employee engagement, employee rights, and gender equity.

The Oslo Business for Peace Summit

Starting in May 2007, the Oslo Business for Peace Summit has been held annually in the Oslo City Hall.

Summit Themes

A selection of speakers who have contributed to the Summits: Kjell Magne Bondevik, Alexandra, Countess of Frederiksborg, Roberto Servitje (Grupo Bimbo), Guy F. Tozzoli (World Trade Center), Vijay Kalantri (All India Association of Industries), Jan Egeland, Bob Geldof, Nabil Shaath, Anders Källström, Khater Massaad, Jinghai Zheng, John Lervik, Margaret Beckett, Erik Solheim, Festus G. Mogae, Kandeh Yumkella, Jeremy Rifkin, Anthony J. Venables, Gobind Nankani, Petter Nore, Long Yongtu, Timothy L. Fort,[17] Patricia Aburdene,[18] Juan Carlos Echeverry, Børge Brende, Henrik Syse and Erna Solberg.

The Oslo Business for Peace Award

The statue "the Just Man" has been created by the artist Bruce Naigles. It is presented to the Business for Peace Honourees during the formal award ceremony at Oslo City Hall.[19] [20] [21]

The Nomination Process

The Business for Peace Foundation works together with nominating partners to identify candidates who embody the values described by the criteria for the Oslo Business for Peace Award.Beginning in 2009, the Foundation has formally collaborated with the International Chamber of Commerce. Other partnerships include Principles for Responsible Investment, the United Nations Development Programme and the United Nations Global Compact.[22]

The Award Committee

Following closure of the nomination period, the honourees are chosen by an independent committee selected from people who have received either the Nobel Peace Prize or the Nobel Memorial Prize in Economic Sciences. Members of the award committee have included businesswoman Ouided Bouchamaoui (2016–), peace activist Leymah Gbowee (2014–), professor Finn Kydland (2014–), professor Eric S. Maskin (2017–), human rights advocate and lawyer Shirin Ebadi (2014 – 2018), economist Michael Spence (2009 – 2017), professor Muhammad Yunus (2009 – 2013) and professor Wangari Maathai (2009 – 2011).[23] [24] [25]

The Award Criteria

The Award Committee of the Business for Peace Foundation selects honourees who have demonstrated that it is possible for a business to enter into partnership with society, while remaining profitable and capable of longer-term growth. The Award Committee evaluates nominees according to three criteria. To be considered business-worthy, and a candidate for the award, a nominee must be:[26]

Business for Peace Honourees

2009

2010

2012

2013

2014

2015

2016

2017

2018

2019

2020

External links

Notes and References

  1. Web site: Wilson . David Sloan . February 13, 2022 . Humanizing Corporations: A Nobel Prize for Enlightened Business Leaders (with Per Saxegaard – David Sloan Wilson Online Archive . 2024-11-01 . davidsloanwilson.world.
  2. Web site: Thorpe . Devin . Nov 21, 2016 . Social Entrepreneur Creates 'Nobel Prize For Business' Focused On Social Responsibility . 2024-11-01 . Forbes . en.
  3. Web site: Mission & Vision . Business for Peace Foundation.
  4. Book: Special Report on Business Ethics: Business for Peace . May 2019 . Knowledge@Wharton and AKO Foundation . Philadelphia, Pennsylvania.
  5. News: Asghar . Rob . Business As A Force For Peace: Six Remarkable Examples . 1 November 2024 . Forbes . May 15, 2014 . en.
  6. Web site: 2019-09-24 . Business for Peace Welcomes New Managing Director . 2024-11-03 . Business for Peace Foundation . en-US.
  7. News: Oslo Business for Peace Award (Oslo Award) encourages ethical business . 1 November 2024 . Norwegian American Weekly . 16 . 120. 4 . April 24, 2009.
  8. News: Pedro . Marian San . How this Mindanao coffee enterprise won the 'Nobel Prize of Business' . 1 November 2024 . F&B Report Magazine . 21 September 2020.
  9. Web site: Business for Peace: The Role of the Private Sector in Building Peace UNITAR . 2024-11-01 . unitar.org . en.
  10. Web site: Miklian . Jason . Mapping Business-Peace Interactions: Five Assertions for How Businesses Create Peace . CDA Collaborative Learning Projects . 3 November 2024.
  11. In letter of endorsement to the foundation
  12. Porter . Michael E. . Kramer . Mark R. . 2011 . Creating Shared Value . Harvard Business Review . January–February.
  13. News: Saxegaard . Per L. . Wilson . David Sloan . July 15, 2018 . Humanizing Corporations: A Nobel Prize for Enlightened Business Leaders . 1 November 2024 . This View of Life.
  14. Web site: Past Programmes . 2024-11-04 . Business for Peace Foundation . en-US.
  15. Web site: 2018-03-28 . Colombian Edgar Montenegro wins international 2018 Oslo Business for Peace Award . 2024-11-03 . Business Call to Action . en-US.
  16. Web site: China . American Chamber of Commerce in South . 24 Winners of Oslo Business for Peace Award Call to Build Back Better Business in the Global South . www.prnewswire.com . 4 November 2024. Jun 30, 2020 . en.
  17. Web site: Timothy L. Fort | Faculty | School of Business | The George Washington University. https://web.archive.org/web/20080517132942/http://business.gwu.edu/faculty/timothy_fort.cfm. 2008-05-17. dead. 2015-12-01.
  18. Web site: Patricia Aburdene - Author of Conscious Money and Megatrends, speaker on corporate transformation and conscious capitalism. patriciaaburdene.com. 2015-12-01.
  19. Web site: 2023-05-21 . Beyond Art Charity Art Auction 2023 catalogue by Beyond Art - Issuu . 2024-11-04 . issuu.com . en.
  20. Web site: The Just Man Website of the Fonderia d'Arte Massimo Del Chiaro - Pietrasanta (Lucca), Italy . 2024-11-04 . www.delchiaro.com.
  21. Web site: Bruce Naigles :: Home . 2015-12-01 . naiglesart.com.
  22. Web site: 2018-09-04 . ICC and partners in search for businessworthy candidates . 2024-11-04 . International Chamber of Commerce . en-US.
  23. Web site: Award Committee . Business for Peace Foundation . 4 November 2024.
  24. News: American Lori Blaker to Accept International 2018 Oslo Business for Peace Award in Oslo, Norway on May 16 . www.newswire.com . May 15, 2018 . en.
  25. News: Arif Naqvi named 2013 Oslo Business for Peace Nominee • The Lakshmi Mittal and Family South Asia Institute . 4 November 2024 . The Lakshmi Mittal and Family South Asia Institute . 3 July 2013.
  26. News: Suzuki . Mayo . Nobel Prize in business: A model for CEOs in the SDGs era . 2 November 2024 . Medium . Oct 14, 2020.
  27. Web site: Oslo: Anders Dahlvig won the "Oslo Business for Peace Award" Business Wire . 2024-11-01 . via.ritzau.dk . da.
  28. Web site: Mo Ibrahim . 2024-11-04 . World Justice Project . en.
  29. Web site: 2009-04-19 . ALJ president nominated for Oslo Award . 2024-11-01 . Arab News . en.
  30. Web site: 2020-07-08 . Josephine Okot . 2024-11-04 . IFDC . en-US.
  31. News: Seven secure Oslo Business for Peace Awards for 2010 . 1 November 2024 . International Chamber of Commerce (ICC) . 5 October 2010.
  32. News: Badal . Abdur Rahim . Selima in Norway to receive award . 1 November 2024 . Selima in Norway to receive award . 15 May 2014 . en.
  33. Web site: Apr 18, 2012 . Latifur wins Business for Peace Award . 2024-11-01 . The Daily Star . en.
  34. News: Recipients of Oslo Business for Peace Award announced . International Chamber of Commerce (ICC) . 24 April 2013.
  35. News: Asghar . Rob . How Corporate Social Responsibility Is Moving From Optional To Mandatory . 1 November 2024 . Forbes . May 7, 2015 . en.
  36. News: Great Award for a great Lady Tourism-Insider . 2 November 2024 . Tourism-Insider . 17 May 2014.
  37. Katsos . John E. . Fort . Timothy L. . Leadership in the promotion of peace: Interviews with the 2015 Business for Peace honorees . Business Horizons . 1 September 2016 . 59 . 5 . 463–470 . 10.1016/j.bushor.2016.03.010 . 3 November 2024 . 0007-6813.
  38. Web site: 2017-03-29 . Durreen Shahnaz wins Oslo Business for Peace Award . 2024-11-01 . The Daily Star . en.
  39. Web site: The Competitive Advantage of Collaboration . BI Centre for Corporate Responsibility . 4 November 2024.
  40. News: Katchuk . Natasha . Al-Katib honoured with international peace award . 4 November 2024 . U of S News . Mar 31, 2017 . en.
  41. Web site: Michigan Global Business Leader Among Three to Win 2018 Oslo Business for Peace Award. March 21, 2018. TTi Global.
  42. News: Glen Dimplex founder Martin Naughton wins peace price. Fiona. Reddan. The Irish Times.
  43. Web site: Colombian Edgar Montenegro wins international 2018 Oslo Business for Peace Award. March 20, 2018. BCtA.
  44. News: Katsos . John E. . Miklian . Jason . McClelland . Patrick L. . Building a Culture That Can Withstand a Crisis . 4 November 2024 . Harvard Business Review . 17 November 2021.
  45. Web site: Hamdi Ulukaya . 4 November 2024 . Institute of Global Politics, Columbia University.
  46. Web site: Hamdi Ulukaya UN Office for Partnerships . 2024-11-04 . unpartnerships.un.org . en.
  47. News: GiftedMom’s Dr Agbor Ashumanyi Ako Wins The Oslo Business For Peace Award . Cameroon News Agency . March 20, 2019.
  48. Web site: ICCLi . 2020-09-09 . 2020 Business for Peace Award winners . 2024-11-04 . ICC - International Chamber of Commerce . en-US.
  49. News: Sarmiento . Bong S. . Want peace? Drink coffee . 4 November 2024 . MindaNews . 4 October 2022.

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