There is no escaping the fact that business has a vital contribution to make to the delivery of a sustainable future for our planet. Our perspective and knowledge cannot therefore be ignored.

The oil and gas sector was represented by IPIECA, the International Petroleum Industry Environmental Conservation Association, and also by the World Business Council for Sustainable Development. Both these organisations, and other delegates to the summit, confirmed that the atmosphere in Johannesburg was more collaborative and positive than some reports suggested. As Ed Mitchell points out, this summit was not intended to produce a radical new agenda, it was about implementation of the broad objectives already set in place in Rio and elsewhere.

It is premature to call it either a success or failure. The summit outcomes do, however, have some significant implications for BG. There was an explicit recognition of the fundamental role of energy in powering sustainable economic development. This is a statement of the obvious, but it is nevertheless important. There was also recognition of the benefits of cleaner fossil fuels, such as gas, which is welcome realism. As gas is our core product, this will continue to give BG a clear marketing advantage.

It was recognised that good governance is a pre-requisite for effective foreign aid and direct investment. Governments were called on to ensure access to information and timely completion of negotiations on a comprehensive UN convention against corruption. Strengthening and increasing the transparency of administrative and legal frameworks will bring benefits to us as an international company, and to the countries where we operate.

Good governance is equally important at a corporate level. In the aftermath of Enron and WorldCom, it is essential for BG to continue to demonstrate best practice in corporate governance. BG's business principles and policies underpin this and are currently being reviewed and updated.

There is an increased requirement for business to improve social and environmental performance. A call from some NGOs for mandatory rules on Corporate Social Responsibility did not produce the result they sought, but it did put the issue firmly in the centre of the debate; companies will be expected to demonstrate corporate accountability, and this should take place within a transparent and stable regulatory environment. This is an area BG has continued to develop in recent years, verifying its environmental performance via ISO 14001 standards, and publishing details of social contributions in its Social and Environment Report

The overriding outcome of Johannesburg is a recognition of the shared responsibility of business, civil society and governments to deliver sustainable development. Business is the major player in lifting societies out of poverty and delivering development, while governments and civil society are enablers of that process.

Business has accepted that it has a role in providing development that is sustainable and equitable. The concept of corporate social responsibility was formalised at the highest level and companies will no longer be able to ignore these obligations by pleading that their sole duty is to shareholders.

Delivery of sound environmental and social policies makes a significant contribution to BG's reputation and performance. And our presence in the Dow Jones Sustainability and FTSE4Good indices, and the high regard in which we are held by host governments and ethical investment funds, suggest that we understand what is expected of us.

There is no room for complacency, however. The message from Johannesburg is clear: companies will be a substantial part of the solution to the challenges facing the world, and we will be held to account to deliver those solutions.

For further information on this subject contact us at: CR Enquiries