Moscow, May 24. A session titled ‘Is Modern Business Capable of Implementing Successful Long-Term Strategies?’ will be held at the St. Petersburg International Economic Forum. The event will be moderated by First Deputy CEO, Executive Director of the Interfax Group Vladimir Gerasimov, panellists include Jesper Brodin, President and CEO of IKEA Group, Igor Lotakov, Country Managing Partner, PwC Russia, Tatsuyoshi Saijo, Professor at the Center for Environmental Innovation Design for Sustainability, Osaka University, Programme Professor at the Research Institute for Humanity and Nature, Guzel Sanzhapova, Cocco Bello Co-Founder, Andrew Sommers, President of A.B. Somers & Associates, President of the American Chamber of Commerce in Russia (2000–2013), and others.

The key theme of SPIEF 2019 will be Creating a Sustainable Development Agenda. One of the major challenges for a state to implement the sustainable development strategy is transition of business to long-term planning with revision of its approach to natural resources, environment and ecology. Long-term business strategies are to support the balance between the economic, ecological, and social components.

According to many experts, contemporary business is mostly concerned about short-term prospects. Being too focused on satisfying the shareholders overshadows the socially important mission of a company. Orientation toward high financial outcomes within the shortest time distracts business from what it can achieve later, not only in the long-run, but even in the mid-term perspective. Therefore, problems such as pollution, climate change, etc. are often ignored.

The participants of the session will answer whether efficient long-term prospects are possible in modern rapidly changing world and what is to be done for global business to revise its priorities.

"I think that our session will be exceptionally interesting. Back in 1978, the sociologist Elise Boulding introduced the concept of ‘temporal exhaustion’, noting, "If one is mentally out of breath all the time from dealing with the present, there is no energy left for imagining the future." Today, more than 40 years later, this problem is a lot more pressing for everyone, including business. When not so long ago the participants of the Davos World Economic Forum were asked what three global threats to mankind they considered to be the most important in 2019, the top three was extreme weather, failure to act on climate change, and natural disasters. At the same time, we found out that at least 1,500 private jets arrived in Davos, which is 500 more than last year. This made environment pollution grow by 50%. I think that one of the most important speeches is that by professor Tatsuyoshi Saijo from Japan. His research shows that those who see themselves as citizens of the future (2060) are ready to implement radical programmes on improving city life. This scientist has recently started analysing behaviour of business within this paradigm. This is what he will talk about," - said Igor Lotakov, Country Managing Partner, PwC Russia.

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