Experts debate tackling the crisis with a new world economic ethics at Novartis Foundation Symposium in Basel

The global financial crisis that brought chaos to global economic activities has led to an intense reexamination of values and morals. For instance, this year's Novartis Foundation for Sustainable Development symposium was focussed entirely on, "Tackling the crisis with a new world economic ethics?"

In  October 2009, internationally acclaimed theologian Hans Küng, business ethicist Josef Wieland, and social scientist Klaus M. Leisinger presented the "Global Business Ethos" manifesto at the UN in New York.

The manifesto aims to provide a guide to responsible corporate conduct and business activities by suggesting ethical principles for each individual that can be implemented universally.

The first signatories include prominent persons such as former IMF managing director Michel Camdessus, first woman president of Ireland (1990-1997) and former United Nations High Commissioner for Human Rights Mary Robinson, South African Noble Peace prize winner bishop Desmond Tutu, economist Jeffery Sachs and twice named Time Magazine's "100 Most Influential People in the World" (in 2004 and 2005) and author of The End of Poverty, and Daniel Vasella, chairman and CEO of Novartis.

The UN event was the first step in presenting the declaration to key players on the global economic stage. The next step followed at the Novartis Foundation Symposium yesterday where the UN declaration was presented to the public for the first time and critically discussed by experts from different cultures and continents.

The debate featuring internationally renowned speakers focused on new approaches to avoiding crises in the future. Küng and Wieland will advocate a global ethos with values that are generally valid across cultures and religions. Küng now aims to involve industry, too, with the global business ethos.