• Description

The 1990s started to change the way we looked at business and development. The Rio Earth Summit in 1992 helped to promote the concept of "sustainable development" where economic progress should not come at the cost of using up irreplaceable natural resources and polluting the planet. "Eco-efficiency" started to become a guiding principle for some businesses and governments alike. During the late 1990s, campaigns against the private sector, plus actions by the voluntary sector and shareholders, increased public interest in the behaviour of businesses. But at the beginning of the 21st century, many people do not trust corporations. The recent negative publicity in the US over how corporations are run has led more people to question of the role of business in society. At the same time, people are more aware that the private sector must play its part in reducing poverty.