Businesses key to solving climate change, not governments: Vinod

KUALA LUMPUR – PETRA Group chairman Datuk (Dr) Vinod Sekhar, who attended the COP26 Summit in Glasgow recently, expressed disappointment that the conference did not effectively address critical issues related to climate change, such as education and poverty in Asia.

The 26th United Nations Climate Change Conference (COP26) was held from October 31 to November 13 in the Scottish city of Glasgow, where a large rally was held concurrently by protesters who opposed inaction by world leaders over environmental issues.

Speaking at the Horasis Asia Meeting 2021 yesterday, Vinod said COP26 failed to acknowledge the role of businesses in the developing world to combat climate change.

I was disappointed at one level (with COP26) because I have the view that climate change won’t be solved unless we deal with poverty and education in Asia.

“(The summit) did not go far enough to involve key stakeholders who are corporations in the developing world,” Vinod said. 

The billionaire entrepreneur and philanthropist emphasised that compared to governments, businesses are more likely to be catalysts for change in the fight against climate change.

 “Businesses if they commit and play a role in the matter, we can have sustainable change.

 “Governments on the other hand change every few years. Whatever policies (for climate change) that are done now, might be affected by the next batch of politicians who come in,” he added.

Besides the participation of businesses, Vinod highlighted that it is crucial to educate the public over climate change. 

He said communities, particularly those comprising the B40, may not be too concerned with climate change as they are more focused on putting food on the table.

 “For example, if you are poor and depend on the palm oil industry for an income, climate change may not be as important as feeding your family.

 “So they have to be educated to understand how climate change affects them, and provide them with alternative solutions,” Vinod added.

He also acknowledged striking a balance between economic needs and climate change which is important for developing regions like Southeast Asia, emphasising strong cooperation between partner countries.

Vinod took the opportunity to rubbish claims that it is too late to reverse climate change, pointing towards Malaysia’s movement control order (MCO) period as a potential glimmer of hope.

I believe in humanity, even when we screw up often, we manage to find a way out in the end.

“The pandemic which was disastrous showed one thing – that in Malaysia alone just after one month of lockdown, the rivers and skies cleared up.

“In fact, dolphins appeared in the Malacca straits which is one of the busiest trade routes in the world,” Vinod explained. 

Acknowledging the fact that there is still hope to reverse climate change, Vinod urged businesses to cooperate with the communities in which they operate.

He reminded businesses that it is critical for them to also view profits beyond the lens of money.

“Profits must be beyond cash and include the positive impact we have on the community.

 “Because if we enhance the community we operate in, it makes us more money in the end.

 “It’s simple if the community is empowered with more money they can buy the products we sell,” he said.

 Vinod was a panellist at Horasis Asia Meeting 2021, where he touched on “The Asian Regeneration Post-Covid” in a webinar.

 The virtual conference was hosted by Frank-Jürgen Richter who is the chairman of Horasis and founder of the Horasis Global Meeting, as well as a former director of the World Economic Forum. – The Vibes, November 27, 2021