29 November 2012 06:59 [Source: ICIS news]
DUBAI (ICIS)--The petrochemical industry will need to focus on communicating with the community-at-large to understand the right questions to ask themselves in order to adapt and become sustainable, a senior banking executive said on Thursday.
"What we are seeing in this connected world is that we will have to pay much more attention to what communities want and I mean that in the broadest term," Chad Holliday, the chairman of the Bank of America, told delegates at the seventh GPCA forum in Dubai.
"The most important thing you can do to go through the change to be sustainable is to get the questions right... and I think you need to get a lot of people in the community to help you answer those questions," he said.
"I believe that the industry fundamentally can be a little too focused on ourselves and not think about the issues that we are dealing with. If you are thinking about change you will need to keep in mind who you are listening to,” Holliday added.
The most pressing issues for companies now, including those in the petrochemical industry, in their search for sustainable development is youth unemployment, according to Holliday.
"I think it’s one of the biggest issues and if we are not responsive, if our competitive improvement is seen as creating a problem, then I think it’s not a good situation," he said.
The seventh GPCA conference is a three-day event ending on 29 November.
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