The Business for the Environment ( B4E) Summit ended its three-day session in Seoul on Friday, with participant business leaders promising further efforts to push for green economy and eco-friendly life style.

REACHING FOR RECOMMITMENT

Gathering for the fourth meeting, corporate executives and entrepreneurs joined leaders from governments, international agencies, and civil society to reach solutions and approaches in numerous areas, including energy efficiency; green-growth strategies; water stewardship; and clean-tech innovations.

Coinciding with Earth Day 2010, April 22, the summit kicked off with a screened opening address by UN Secretary General Ban Ki- moon and a keynote speech by South Korean President Lee Myung-bak.

"We need green growth for our economic and environmental well- being," said United Nations Secretary-General Ban Ki-moon.

"Climate change, desertification and declining biodiversity are themselves a threat to the Millennium Development Goals. We need action. Innovation. Resolve. I look to business to play a major role."

South Korean President echoed the UN chief's remarks, urging global partnership for sustainable green growth.

Lee said he believed that economic growth and environmental protection are not incompatible concepts, which can be achieved by the new paradigm of "low-carbon green growth."

"To attain the goal of sustainable green growth, we are in need of global partnership," President Lee said.

"And it is also a must-do for all of us to find a solution," Lee added.

He also pointed out that business sector must take part in tackling the issue, calling on business leaders to turn the crisis into a new opportunity.

President Lee was joined by President of Republic of Maldives Mohamed Nasheed, and President of Republic of Guyana Bharrat Jagdeo.

Nearly 1,000 participants from more than 35 countries attended the Summit, which was hosted by the United Nations Environment Program, the UN Global Compact, and the World Wildlife Fund.

During the summit, executives and other leaders offered a range of new environmental strategies, approaches and innovations, such as incorporating development objectives and embracing new models of water management.

Participants also agreed on expanding sustainable procurement and green supply chain, while encouraging investors and financiers to adopt longer-range investment horizons that fully incorporate environmental and sustainability considerations;

Biodiversity was one of the key issues in the B4E as well, for which leaders adopted corporate biodiversity strategies that recognize the value of ecosystems to economies and societies.

The meeting also reached consensus on widening participation in key UN special initiatives, including the UN Global Compact's Caring for Climate and CEO Water Mandate projects, the organizers said.