Conference Report 2006

2006 Conference on Ethics in Business – Corporate Culture & Spirituality
Business and Ethics – Complementary or Contradictory?

The Conference was held for the first time in the European Parliament, Brussels. Over 300 participants from 20 countries, engaged in a dynamic and sincere discussion, and agreed that ethics and business are complementary and an integral part of innovative and sustainable development.

Speakers’ Quotes

Dr. Saad Al Barrak
Deputy Chairman & CEO, MTC Group, Kuwait

“Enterprises of the 21st century face a multitude of challenges spanning from environmental impact, corporate governance and fierce competition. Only those companies that have authentic leaders at the helm are the ones able to achieve growth and success as well as impact society in a positive way.”

Prof. Ruud Lubbers
Former Prime Minister, The Netherlands

“I highly appreciate and recommend the Conference on ‘Corporate Culture & Spirituality – Ethics and Business: Complementary or Contradictory?’ Not only politicians and administrators have responsibilities for the quality of life, but also responsible businesses all over the world.”

Ms. Erika Mann
Member of European Parliament, Committee of International Trade, Germany

“Moral integrity is a substantial component for modern companies operating in an increasingly international and sophisticated environment.”

Mr. Vinod Mittal
Managing Director, Ispat Industries Limited, India

“Business and ethics are complementary since the amalgamation of individual ethics, which is derived from spirituality, defines corporate culture in any particular enterprise. Good corporate culture, which is regulated by corporate laws, only flows from ethical living of individual employees and management.”

Dr. Sanjay Pradhan
Director, Public Sector Governance, The World Bank

“Firms that are ethically responsible can increase their share value, access to finance, business opportunities and long-term sustainability. Rather than being a source of corruption, the private sector can be a powerful force for integrity by forming alliances with like-minded businesses, civil society and reformers in government for a more ethical business environment.”

Dr. Jacques Santer
Former Prime Minister, Luxembourg

“Corporate Social Responsibility matters because it mirrors the core values of the society in which we wish to live in.”

Prof. Dr. Ernst Ulrich von Weizsäcker
Dean, Bren School of Environmental Science and Management

“There is a need for globally valid rules for business. There should be no incentive for companies to disregard minimum standards of human or ecological decency. Voluntary rules of Corporate Social Responsibility are helpful but not sufficient. Governance and CSR are mutually complementary.”

Dr. Myron S. Scholes
Noble Prize Laureate in Economic Sciences, United States

“This conference offers the opportunity for scholars and practitioners to discuss why spirituality and corporate profit maximization are simultaneously complements and substitutes. Corporate leaders, however, who enhance the value of their corporate human capital, generally the largest corporate asset and largest asset category of our global society, through spiritual activities will enhance shareholder value.”