The role of business
Substantial contribution from the private sectorThe percentage of the population living below the national poverty line in Indonesia and Malaysia dropped from around 40% in the 1970’s, to 17.8% in Indonesia and 5% in Malaysia, in 2006 and 2007, respectively.
Despite reductions in poverty, the states of Borneo remain some of the poorest in the region, with an estimated 23% of the population living below the poverty line in Sabah, Malaysia.
The private sector will continue to play an important role in reducing poverty across Borneo.
A business as usual approach is unsustainableAs the forests continue to be lost, it is increasingly clear that the current growth path is not sustainable in the long term.
The destructive use of natural resources results in the loss of ecosystem services to the detriment of local, national, and international communities. It also focuses the economy on short term gains, potentially at the expense of long term sustainable growth opportunities.
Without a re-evaluation of the economic growth model in Borneo the prospects for sustained long term poverty reduction may be limited.
Pathway to a green economyShifting to a green economy that values and invests in natural capital would help to sharply reduce many of these negative trends
Its creation depends on the incorporation of natural capital values into economic policies and private sector decision making.
Businesses operating within the Heart of Borneo can support the transition to the green economy by:
- ensuring that their impact on the natural capital they depend upon is either minimised or positive
- sharing information through platforms such as forums, roundtables or certifying organisations
- becoming a transparent and accountable business
- supporting public-private partnerships and devising innovative ways to finance and capitalise on conservation
- becoming actively involved in the HoB Green Business Network.
Working towards a future that benefits allIncreasing the support and buy-in of industry is critical to successfully meeting the objectives of the Declaration.
This is why WWF launched the Heart of Borneo Green Business Network - to engage with business and spread greater awareness and understanding of the Heart of Borneo Initiative.