(New York, 13 November 2008) -- The daily newspaper L'Express of Mauritius has published an editorial highlighting the importance of corporate sustainability in light of the global financial crisis. Authored by Dr Vishal Ragoobur, Economist of the Mauritius Employers' Federation, the article emphasizes the important complementary role that voluntary initiatives such as the UN Global Compact and the Principles for Responsible Investment can play with respect to proper and effective regulation.
"The current crisis provides the perfect opportunity for businesses to reassess their goals and behaviour", Dr Ragoobur writes. "The choice for the private sector is whether to carry on business as usual based on short-termism or to adopt a new business concept, one that promotes long-term sustainability. With public pressure and scrutiny set to mount and the increasing emphasis laid on sustainable development, CSR must move from being just fashionable to a necessity".