The Business for Peace Foundation, Oslo, Norway was established in 2007 in the belief that socially responsible and ethical initiatives should not be merely window dressing, but must stand the test as a business case, and gradually, as the moral culture of corporations matures, will constitute an integrated part of modern business.

The supporting partners of the Business for Peace Foundation are International Chamber of Commerce (ICC), The world business organization, World Chambers Federation (WCF), The City of Oslo, The Oslo Chamber of Commerce and the initiators of The Oslo World Trade Centre (OWTC).

The aim of the Business for Peace Foundation is to increase the awareness of the businessperson as an individual about the strength of the ethical business case, and thus inspire business people as individuals to help foster peace and stability through their work and what the Foundation calls “business worthy behaviour”. ICC has entered into a formal agreement with the Business for Peace Foundation with the mutual goal of identifying business people worldwide who are showing the way on ethically responsible business practices.

The vision of the Foundation is to inspire and encourage business people, as individuals, to foster peace and stability to the benefit of humanity, through releasing the peace building power of Being Business worthy.

The increasingly adversarial relationship between business and society has many causes, but can be generally ascribed to a breakdown of the trust-proposition between what should ideally be partners. Business has come to see society as hampering its growth through excessive regulation; and society tends to see business as prospering at the expense of the wider community. It has become important to explore how one can rebuild the trust that has been lost between business and society.

Business for Peace Award was introduced in 2009 upon an endorsement by His Excellency Kofi Annan and positive response from several Nobel Laureates to take part in the nomination and the award giving process. The very idea and its concept, not to mention the international profile of the Business for Peace Awards claimed that it stood out as an autonomous and independent event.

Nobel Laureate H.E. Kofi A. Annan said “I think the idea behind the Oslo Business for Peace Award, and the potential impact it may have, is important and inspiring. It is important to encourage businesspersons to be conscious of the role they can play as individuals to foster stability and peace.”

An independent committee of Nobel Prize winners in peace and economics decide the recipients of the Award. They adhere to the criteria for Being Businessworthy stipulated by the Foundation. The Award Giving Committee consists of Professor Muhammad Yunus (Nobel Peace Prize Laureate 2006) and Professor A. Michael Spence (Nobel Prize Laureate in Economic Sciences 2001). Professor Dr. Wangari Muta Maathai (Nobel Peace Prize Laureate 2004) who died on September 25, 2011 was the third Member of the Committee.

The selected Honourees are “businesspersons who, through their own actions and commitments, promote socially responsible and ethical business practices in an outstanding way, and stand out as examples to others.”

Previous Honourees of Business for Peace Award given in 2009 and 2010 among others, include world renowned business personalities. In 2010, Mr. Ratan Tata, Chairman of Tata Group of India, Mr. Francis Yeoh, Managing Director YTL Corporation, Malaysia (infrastructure, hotel chain, etc.) and in 2009, Mr. Jeffery R. Immelt, Chairman and CEO of General Electric (GE) of USA, Mr. Anders Dahlvig, CEO of IKEA, Sweden and Mr. Zhengrong Shi, Chairman and CEO of Suntech Power (the largest manufacturer of Solar Modules in the world) were among the recipients of the Award.

We are very honoured to announce with great pleasure that Mr. Latifur Rahman, Chairman of Transcom Group and Vice President of ICC Bangladesh has been selected as a recipient of Business for Peace Award 2012 by the Committee of Nobel Laureates: Prof. Muhammad Yunus (winner of the Nobel Peace Prize for 2006) and Professor A. Michael Spence (winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2001).

The Award is the highest distinction given to a businessperson for outstanding Businessworthy accomplishments.

Mr. Latifur Rahman is also the Chairman, Nestlé Bangladesh, Holcim Bangladesh (world leader in cement) and National Housing Finance & Investments. Director, Linde Bangladesh ( formerly British Oxygen) and Member, Governing Board of Bangladesh Rural Advancement Committee (BRAC), worlds 4th largest NGO.

Transcom, originated with tea plantations in 1885, is now one of the largest conglomerate in Bangladesh, comprising 16 private & public companies, having annual turnover of over Tk.2750 crore and employing over 10,000 people. The Group paid Tk.551 crore as tax, duties and VAT in 2011.

This year the seven Honourees, including Mr.Latifur Rahman have been selected from out of 90 candidates from 60 countries. The other recipients of the Business for Peace Award 2012 are : Ibrahim Abouleish (Egypt), Anil Agarwal (India) Eduardo Eurnekian (Argentina), Vladas Lasas (Lithuania), David W. Mac Lennan (USA) and Reginal A. Mengi (Tanzania)

The Award will be presented in Oslo on 7 May, 2012. taking place as part of the Oslo Peace through Trade Summit in Oslo City Hall, Norway. The Summit entitled Essences of Trust in Business Today will feature Keynote speeches by Alexandra Christina, Countess of Fredriksborg and Roberto Servitje Sendra, Founding Member and Chairman of Grupo Bimbo.