Leadership Briefing from
CST V/VI
Publication Date: June 2002
"Dialogue: One Critical Route to Sustainable Development"
By Samuel L. Smolik
Vice President of Environment, Health & Safety
Dow Chemical Company
ABSTRACT:
A case study of Dow's strategic approach to achieve sustainable development and improve its governance process.
EXCERPT:
I cannot remember a time in my 26 years at Dow when we have experienced so much change in such a short time. Globalization, information technology and instant communication have had a profound impact on Dow and other companies, governments and institutions. All this is shaping the way society expects business to operate in the 21st century.
We strongly believe that if we are to be successful in the 21st century, we must simultaneously excel in all three elements of the Triple Bottom Line of sustainable development: economic prosperity, corporate social responsibility and environmental stewardship. With these expectations, we have recently developed a 12-Point Sustainable Development Operating Plan to provide a unified strategic context to tie together our many activities related to sustainable development and to facilitate faster, more efficient progress as we move forward.
. . . . .
If I had to capture in a single word what our challenge goal should be, that word would be "credibility." Credibility in the eyes of the people who invest in us, those who buy our products, our employees who dedicate so much of their talent and energy, those who regulate us, the communities where we operate, and many more.
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To quote Dow's President and CEO, Mike Parker: "We don't view sustainable development as a choice. It is an imperative, a 'must do' absolute responsibility for any company doing business in today's global economy."