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Media
‘Transparency and case to case regulation needed’,
Times of India, 17 November 2008
BRUSSELS: Even as the G-20 meeting in Washington DC seeks to thrash out solutions to looming problems of recession, simple but creative ideas to deal with the current global financial crises were shared by business, banking and market experts at a meeting in the European Union parliament in Brussels.
The international business and leadership symposium was presided over by European Parliament member, UK-based Sri Lankan Niraj Deva, who stressed the underlying theme of the need for ethics in business. "The lack of sustainable ethics in business has been a key factor in the financial decline we see today. Had this been in place, the global system would be intact and prosperous,'' he said.
Spiritual leader Sri Sri Ravi Shankar's International Association for Human Values (IAHV) founded in 1997 in Geneva has made the conference on "Ethics in Business: Corporate Culture and Spirituality'' an annual event that brings together prominent leaders from major sectors worldwide. This is the sixth such conference, the third in Brussels.
World Bank vice-president Michael Klein (financial and private sector development) and chief economist, International Finance, spelt out the three options currently available to deal with the current global financial crises: "First, leave it to markets to correct themselves; second, rely on regulators and third, expect politicians to sort out the mess.''
He added, "The problem with the first option is when people continue to party, living in denial that the bubble has burst; the second wouldn't work for no one would listen to a party-pooper (who anticipates a bubble-burst and so directs that the party should stop) just when it seems things are going great and the third option would be useless since politicians wouldn't want to play party-spoiler especially if elections are round the corner.''
What is the solution, then? A mix of options, one and two, but it is important also for people to be careful of where they put their money. Klein warned ordinary investors of getting tempted by "Ninja loans where lenders are willing to give large amounts to someone unemployed and with no assets. If you do give in to the temptation, then don't complain when the lender wants his money back.''
Asked if he would promote the idea of an overall regulatory authority, Klein said that what is required is additional transparency and case-to-case regulation even when a financial institution is doing nothing illegal.
"We need a Martin Luther King in the financial sector to bring change and stability,'' said Economics professor Rudy Aernoudt of the University of Ghent, Belgium. "We talk of the need for a level playing field whereas what we really need is a loyal playing field.''
Quelle: www.timesofindia.indiatimes.com
Premier Berisha: Financial world is in need of a new Martin Luther in financial sector
13 November 2008
 Prime Minister Sali Berisha, on a visit to Brussels, attended today as guest of honor the proceedings of the International Business and Leadership symposium.
In his speech delivered to this panel, Premier Berisha appreciated the efforts of the developed countries and their commitment for resolving the financial crisis and referred to the G-20 and G-8 efforts in particular.
Premier Berisha said that the world financial system needs a new Martin Luther as indispensability to define new control regulation and transparency of the private sector, especially the financial sector. Emphasizing that efforts and deeds to prevent corruption should develop not only in the public sector, but even in the private sector, Premier Berisha said that the influence and role of this sector is rather important for the economic and social development of the country.
During his speech delivered on this occasion, Premier Berisha presented some of the recent developments in Albania as well as its progress in the Euro-Atlantic integration process. In this context, the premier made an expose of the progress of reforms in important sectors as a result of which Albania records a notable economic growth.
Among other things, Premier Berisha highlighted government of Albania constant commitment to fight corruption in all the fields without compromise as well as to stimulate the most active participation of the foreign investors in our country.
Along with Premier Berisha the symposium was attended by Mr. Nirj Deva, a member of the European Parliament, World Bank (WB) Deputy Vice President Michael Klein, Chair of the Advisory Council of Transparency International Prof. Dr. Peter Eigen, Former Head of Enterprise Financing, European Commission Prof. Rudy Aernoudt as well as the President of the International Association for Human Values Mr. Hans-Martin Schempp.
Quelle: Homepage Republic of Albania, Council of Ministers
'Youth Leadership Award for Natalie'
SouthAfrica.info, 17 November 2008
 South African Olympian and Paralympian Natalie du Toit joined a select group of international leaders honoured for their contribution to ethics and human values at the European Parliament in Brussels on Friday.
Du Toit received the International Association for Human Values (IAHV) Youth Leadership Award 2008, a prestigious award that recognizes young leaders with an astonishing track record of performance and/or social responsibility.
According to Christoph Glaser, a member of the IAHV board in Europe, Du Toit was selected because of her raw defiance in not giving up on her goals. "We admire her indomitable will and strong determination, and the fact that she has become a source of inspiration to the youth of her country," Glaser said in a statement.
Other IAHV 2008 award recipients were Ibrahim Abouleish, founder of Egyptian organisation SEKEM (Outstanding Individual Award); Hans-Peter Dürr, founder of German organisation Global Challenges Network (Outstanding Scientist/Academic Award); and GM Rao, group chairman of India's GMR Group (Outstanding Corporation Award).
"It is a real honor to be representing South Africa and to receive this award," Du Toit said. "I would like to give a message to everyone: it is possible for everybody to achieve something. You don't have to be the best singer, but you can still write your song.
"I would also like to thank everyone for their support: the public in South Africa, the people close to me, everyone. Without teamwork these types of awards would not be possible."
Founded by HH Sri Sri Ravi Shankar in Geneva in 1997, the International Association for Human Values is a volunteer-based, charitable non-governmental organisation dedicated to the development and promotion of human values in society.
Quelle:SAinfo reporter
'Natalie Wins International Youth Leadership Award'
South Africa The Good News,
17 November 2008
South African Olympian and Paralympian Natalie Du Toit was honored for her contribution to ethics and human values at the European Parliament in Brussels, Belgium on Friday.
Du Toit won the International Association for Human Values (IAHV) Youth Leadership Award for 2008. The award recognizes young leaders with an astonishing track record of performance and/or social responsibility.
According to Christoph Glaser, a member of the IAHV Board in Europe, du Toit was selected because of her raw defiance in not giving up on her goals. "We admire her indomitable will and strong determination, and the fact that she has become a source of inspiration to the youth of her country."
"It is a real honor to be representing South Africa and to receive this award. I would like to give a message to everyone: it is possible for everybody to achieve something. I would also like to thank everyone for their support: the public in South Africa, the people close to me, everyone. Without teamwork these types of awards would not be possible," she said.
Du Toit received the award at the Ethics in Business - Corporate Culture & Spirituality Conference at the European Parliament. The event, organized by the International Association for Human Values (IAHV) brings together a diverse mix of politicians, academics, business and spiritual leaders to discuss issues about the global financial crisis and its connection to ethics in business.
The conference also provides a rare opportunity for 50 young professionals from 16 countries to present their vision for a sustainable future to the delegates of the conference
Previous Youth Leadership Award recipients include Suhas Gopinath, CEO & President of Globals Inc, who in 2000 at the age of 14 became the world's youngest CEO.
Gopinath received the IAHV Youth Leadership Award in 2007 for his outstanding performance, at such a young age, as an international business executive, and for establishing a platform which encourages youth in their chosen IT career and empowers them to improve their entrepreneurial and personal skills.
Quelle: www.sagoodnews.co.za
Natalie du Toit Wins International Award,
Swimming World Magazine,
18 November 2008
BRUSSELS, Belgium, November 18. SOUTH African Olympian and Paralympian Natalie du Toit won the International Association for Human Values (IAHV) Youth Leadership Award 2008 at the European Parliament in Brussels. The award recognizes young leaders with an astonishing track record of performance and/or social responsibility.
According to Christoph Glaser, a member of the IAHV Board in Europe, du Toit was selected because of her raw defiance in not giving up on her goals. "We admire her indomitable will and strong determination, and the fact that she has become a source of inspiration to the youth of her country."
Other recipients of the 2008 IAHV Ethics in Business Award included The Outstanding Individual Award to Prof. Dr. Ibrahim Abouleish, Founder, SEKEM, Egypt; The Outstanding Scientist/Academic Award to Prof. Dr. Dr. Hans-Peter Dürr, Founder, Global Challenges Network, Germany; and The Outstanding Corporation Award to G.M. Rao, Group Chairman, GMR Group, India.
"It is a real honor to be representing South Africa and to receive this award, especially at this prestigious event which includes such esteemed delegates," says du Toit. "I would like to give a message to everyone: it is possible for everybody to achieve something. You don't have to be the best singer but you can still write your song.
"I would also like to thank everyone for their support: the public in South Africa, the people close to me, everyone. Without teamwork these types of awards would not be possible. I feel that the coming months will be very special."
Du Toit received the award at the Ethics in Business – Corporate Culture & Spirituality Conference at the European Parliament. The event, organized by the International Association for Human Values (IAHV) brings together a diverse mix of politicians, academics, business and spiritual leaders to dialogue on the global financial crisis and its connection to ethics in business.
Recognizing the importance of stimulating dialogue between current and future leaders, the conference also provides a rare opportunity for 50 young professionals from 16 countries to present their vision for a sustainable future to the delegates of the conference at the European Parliament. Participants included representatives from the World Bank, multinational corporations, high-ranking politicians and world-renowned spiritual leaders.
Previous award recipients include Suhas Gopinath, CEO & President of Globals Inc. He was named the world's youngest CEO by the Washington Times and BBC. Gopinath received the award for his outstanding performance, at such a young age, as an international business executive, and for establishing a platform which encourages youth in their chosen IT career and empowers them to improve their entrepreneurial and personal skills.
"This will be an experience that I will remember for the rest of my life. I have learned many values and lessons and hope that many more people will have this opportunity in the future."
Special thanks to Swimming South Africa for contributing this report.
'Durf te dromen en toon meer respect', Het Parool, The Netherlands,
11 December 2007
DARING TO DREAM LEADS TO RESPECT
Mike Van Damme
LAST WEEK he was still in India on a trade mission in the company of, among others, five Dutch Deputy Mayors, including Lodewijk Asscher of Amsterdam. Then Rutger Koopmans, the ING head of medium-sized business and chairman of the Dutch – India Chamber of Commerce, received a telephone call from Brussels. “I was invited to a congress to give a speech on ethics, but they also asked if I would be able to attend a dinner, in order to receive an award.”
What does the Ethics in Business award mean to you?
It means recognition. Ethics in business is something I have been involved with for a long time. The award ceremony itself was a special experience. I received the award from the hands of the Indian guru Sri Sri Ravi Shankar. He is a very special man, with a large following.”
You must have been doing something innovative to be recognised with an international award.
As the chairman of the Dutch – India Chamber of Commerce, I have been to India many times, and in that capacity I am doing my best to bring the two industries and cultures closer together. I think that is what in essence prompted this award. It is not just coincidental that the European business world is focusing more and more on human values, now that the Indian economy is recording such robust growth.”
Is the business world in India much more humane than in the Netherlands?
In Indian community life, I see an unbelievable fundamental democratic feeling, tolerance and a feeling of collectivity. Why are Indian airports always so busy? People are seeing each other off and picking each other up. There is much less emphasis on individual achievement. People embrace diversity, with the idea that ‘it is good that you are different from me, then together we are strong’. There is a much lesser sense of this in the Netherlands.”
How does this translate in the Indian business world?
Based on my experience, I have noticed that in business dealings there is an enormous need for a personal relationship. It’s not that they negotiate a good price and then forget about the rest… Business dealings need not be a purely hard-as-nails affair,” said ING director Rutger Koopmans (49), who received the Ethics in Business award at the European Parliament in Brussels last week. “In India, first you talk about your family, then you go on to business.”
It is a gesture of respect if, for example, you first ask where a person is from, how their family is doing… In the Netherlands people are inclined to say too quickly, “Let’s deal with business matters first and leave the personal stories for later."
You ask about their parents?
No, of course you need to take into account what fits in with your own culture.”
What is that, when we are speaking about Europe?
Empathy, I think. You must have consideration for and be committed to the people who work for you or whom you are working with. That is just as important as the salary. Giving someone the opportunity to develop their talents is definitely just as important as providing them with a company car. We must not only think in terms of material values.”
What are you doing at ING to implement human values?
We have ‘business principles’, rules whereby we make it clear what we stand for and thus what we do not stand for. As a company we encourage our employees to actually use the space they are given. They can serve on the boards of cultural institutions or provide administrative or managerial services for schools. These are essential roles in the community. It is my responsibility as a manager to create the space for these things, as well.”
Is it easy then for your employees to get a day off?
First of all, you need to take into account that people who do volunteer work or are a member of a board sometimes do not have time for the company in the evenings or need to leave an hour early. As the employer, you simply need to be accommodating about it.”
On your website, you write that you must always go for ‘10’ if you are going for something. Doesn’t that pushiness actually conflict with the ethical values you are trying to bring forward?
Not really, it just depends on how you define ‘10’. I believe that you should make the most of your talents - do not be one-sided. Some people have one unmistakeable great talent, but most of the rest feel at home in a variety of markets. All these talents need to be developed, without making compromises.”
Ruthlessness is not encouraged, then?
The message is - dare to dream, even in business life. I often see people who dream about starting a business or taking over their parents’ company. The dream coming true means much more than could ever be expressed in terms of money. For me, too, there is no sum of money that could express the value of winning this award. Money is absolutely not everything.”
Caption: Rutger Koopmans with Sri Sri Ravi Shankar
‘I HAVE BEEN INVOLVED WITH ETHICS IN BUSINESS FOR A LONG TIME’
Normen en warden in de bancaire sector, Het Financieele Dagblad,
The Netherlands,
3 December 2007
English Translation: Normen en waarden in de bancaire sector
Newspaper: Het Financieele Dagblad, The Netherlands
Date: 3 December 2007
Norms and Values in the Banking Sector
3 December 2007, Het Financieele Dagblad, The Netherlands
Brussels – Rutger Koopmans, a board member of ING Wholesale Banking and chairman of the Netherlands – India Chamber of Commerce, was presented with the Ethics in Business Award in Brussels. The award is given by the International Association for Human Values, Europe.
Koopmans was honoured with the award because of his work to achieve a good balance between commercial objectives and human values. The previous year, the award was presented to T.R. Doongaji of the Tata Steel Company.
In his work at ING, Koopmans is responsible for international business operations of medium-sized companies. He is also a member of the Steering Committee of the theater group Toneelgroep Amsterdam, chairman of the board of Cinekid, and treasurer of the Ronald McDonald House/Childrens’ Town of the VU University Medical Centre in Amsterdam. Koopmans is also actively engaged as ambassador for the Amsterdam-based Business in Development Network Foundation.
T R Doongaji, MD, Tata Services, wins Corporate Culture and Spirituality —2006 Ethics in Business Award, Tata Media Room, India,
November 2006
Corus in handen van Indiase weldoener, Het Financieele Dagblad,
The Netherlands,
11 November 2006
English Translation: Corus in handen van Indiase weldoener
Newspaper: Het Financieele Dagblad, The Netherlands
Date: 11 November 2006
CORUS IN THE HANDS OF AN INDIAN BENEFACTOR
The Indian Tata Group, which is about to take over the British–Dutch company Corus, is praised for its business ethics.
By HENDRIK JAN VAN OOSTRUM
Brussels – According to Mr. Doongaji, the managing director of Tata Services, ethical business practices constitute a part of the Tata Group’s heritage.
This Indian business concern was founded by Jamsetji Tata in 1868. His credo, Doongaji explained, was that in business, the community is not just one of the interested parties but the purpose of its existence.
Jamsetji Tata’s descendants have wholeheartedly adhered to the credo by placing 67% of the Tata Group shares in a foundation. It earmarks 67% of the dividends for humanitarian causes such as school projects and flood relief assistance.
Doongaji spoke about the “cycle of wealth” whereby over the years, billions of dollars have been funnelled back into the community.
The conglomerate is listed on the Bombay stock market, trades, among other things, in steel and real estate, and has a market capitalisation of $47.6 billion. In the 2005-2006 fiscal year, it generated a $21.9 billion turnover and $2.1 billion in earnings. The group has about 203,000 employees and operates in 54 countries.
Last week, the Tata Group received the Corporate Culture and Spirituality Award for Ethics in Business, which the former Dutch Prime Minister Ruud Lubbers presented to Doongaji at the European Parliament in Brussels.
In his presentation speech, Lubbers stated, “When it comes to business ethics and responsible business practices, we in the West can no longer claim that we have lessons to teach to the rest of the world about this. There is so much to learn on this topic from other parts of the world, as the example of Tata demonstrates.”
Enlightened business practices
Lubbers’ friend confers an award on Tata
* The Indian Tata conglomerate receives a new award for business ethics
* Two-thirds of Tata’s dividends are allocated for good deeds
* The award was initiated by Ravi Shankar (photo), an influential spiritual leader
* The award was presented by former Dutch prime minister Ruud Lubbers
The Tata Group announced a surprise €6.4 billion take-over bid for the British–Dutch steel concern Corus last month. The Corus board agreed to the offer and this now needs to be approved by the shareholders.
Tata’s managing director Doongaji did not doubt that the shareholders would approve the bid. After he was presented with the ethics award, a futuristic looking cup, he talked to the press. He spoke about the Corus acquisition as an accomplished fact, “We have taken over Corus with the idea of a partnership.”
The award, the first one of its kind to be presented for business ethics, was an initiative by Ravi Shankar. He is an influential Indian spiritual leader and founder of the International Association for Human Values. Shankar and Lubbers know each other well. They are working together to promote the Earth Charter, whose objective is sustainable development.
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