“Look beyond conventional business model, be innovative”

Jul 02, 2017 News

– Finance Minister tells private sector

With the adverse effects of Climate Change continuing to pose a threat to the livelihood and

Finance Minister Winston Jordan delivering remarks at the GMSA event

well-being of this planet’s inhabitants, more and more countries are becoming eco-conscious. Guyana is no exception.
Just recently, the Minister of Finance Winston Jordan, urged local businesses to look beyond conventional business models and to be innovative; to be eco-conscious in their approach.
The Minister was at the time delivering the feature address at a recent Guyana Manufacturing and Services Association (GMSA)-sponsored event, held in Georgetown.
The economist said that in government’s vision for a clean, green, sustainable economy, the private sector has a responsibility to ensure that this transition takes place by introducing fundamental changes in how they conduct business.
He encouraged the private sector to “think outside of the box” and listed examples of companies around the world that are turning eco-consciousness into a source of competitive advantage.
“For example, India’s Shree Cement, a company plagued with water shortages, developed the world’s most water-efficient method for making cement, in part, by using air cooling rather than water cooling.” He said.
He gave another example where the Zangzidao Fishery Group, a Chinese aquaculture company, recycles uneaten fish feed to fertilize crops.
“Guyana’s corporate sector should look beyond the conventional business model and be innovative. Don’t wait for the government to lead the way, you — the private sector — are the proverbial engine of growth. You should now seize the initiative to be the engine of “green growth.” He said.

A section of the gathering at the Business Dinner.

Jordan also encouraged the private sector to acquaint itself with the recently completed Green State Development Strategy Framework (GSDFS) document, which has been placed online for comments.
This document represents a roadmap for Guyana’s development along a reduced emissions pathway and builds on the successes of the Low Carbon Development Strategy (LCDS) and several other national documents such as the Nationally Determined Contributions, Climate Resilience Strategy Action Plan (CRSAP), Draft National Energy Policy, and the National Adaptation Strategy for the Agriculture Sector (2009 -2018).
This document, he added, provides a strong platform for collaboration and the transition to a faster growing, more inclusive economy.
The broad thematic areas of the document, he said, will include alignment of national goals to international commitments including the achievement of the Sustainable Development Goals (SDGs).
National consultations will soon spread across the country and these are expected to last well into 2018, to ensure the final strategy has wide participation and buy-in from all groups within society, the Minister said.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News