Businesses have been urged by speakers at a United Nations summit held in Bangkok on Thursday to ensure they are environmentally and socially sustainable in their operations.
This was one key message put forward at a UN Global Compact summit called the "Uniting Business: Sustainability in Asean".
It was the first time Thailand has hosted a UN Global Compact meeting.
The summit discussed how businesses of all sizes can promote sustainable development while still making a profit in a post-pandemic world.
During a "Fireside Chat Session", it was agreed that regardless of an enterprise's size it should be sustainable both environmentally and socially.
Albert Oung, ESBN Task Force on Green Economy chair, World Green Organisation president and Hong Kong-Myanmar Chamber of Commerce chair, said environmental issues are a by-product of economic development.
Mr Oung said it was necessary to have a paradigm shift.
"We should come up with a business model with multiple objectives. Earning money, but at the same time doing good to the environment and also helping people," he said.
Mr Oung said the word green is not purely defined as being environmentally friendly, but it also means righteousness or doing things ethically.
He said the pandemic had proved that it was time to reset the world.
It was necessary for people to move forward sustainably, something that people are well equipped to do if they have the intention of doing good, he said.
Technological advancements and solutions also can help make this possible, Mr Oung said.
The UN Global Compact is a special initiative of the UN secretary-general. It supports companies to do business responsibly by aligning their strategies and operations with the so-called Ten Principles on human rights, labour, environment and anti-corruption. It likewise calls on them to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation.