Business is not something that does harm : Yunus
FE Report | Sunday, 2 February 2014
Nobel Peace Prize laureate Dr Muhammad Yunus emphasised the need for bringing the human identity back to business.
"The business should be something that will not do harm to people, will not do harm to planet, will not exploit people, will have no corruption and no deception," he said at the World Economic Forum (WEF) at Davos in Switzerland a week earlier, said a press release of the Yunus Centre Saturday.
At the WEF he participated in a panel discussion on 'Future of Capitalism' along with Sir Richard Branson and Bill Gates which was moderated by former British Prime Minister Tony Blair.
Sharing his own experience, Professor Yunus said he was creating a space between business and philanthropy - which he terms as social business. This is dedicated to solve problems, not to make personal money.
Professor Yunus was invited to the lunch hosted by Prime Minister Shinzo Abe of Japan, where he was asked to make comments by WEF founder Klaus Schwab. Professor Yunus briefed the PM about the Japanese companies doing social business including the clothes retailing giant Uniqlo, explaining the concept to the PM.
Professor Yunus participated in a high-level meeting attended by UN Secretary General Ban-ki Moon and World Bank President Jim Kim and moderated by US Vice President Al Gore on global climate change. The programme was held in Davos from January 22-25.
Professor Yunus had separate meetings with chief executive officers of the German airline Lufthansa, leading Swiss Bank UBS and investment bank Goldman Sachs and worked out plans for their initiatives in Social Business, particularly focusing on youths' unemployment in South European countries.
He addressed the Young Global Shapers, outstanding young people selected to by the Schwab Foundation, who are chosen for leadership qualities already demonstrated in work that changes the world. Professor Yunus attended the board meeting of the Schwab Foundation for Social Entrepreneurs, of which he has been a founding member along with Klaus Schwab, Hilda Schwab and Queen Mathilde of Belgium.