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John Fullerton Bard MBA in Sustainability Event Presentation

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  • Vision: a world in which finance serves a just, resilient, and sustainable economic system. Reform and Transform the financial system Mission: A think-tank committed to stimulating the interaction and action of leaders, scholars, and society by raising awareness of the need to harness the power of capital and markets to advance a just, resilient, and sustainable economic system that will improve lives and preserve our planet ’s life support systems.
  • (Do we need “financial”?)
  • Remind people of the ask – add the conclusion

John Fullerton Bard MBA in Sustainability Event Presentation John Fullerton Bard MBA in Sustainability Event Presentation Presentation Transcript

  • http://pricetags.files.wordpress.com/2008/04/800px-london_millenium_wobbly_bridge1.jpg Finance for Sustainability Bard MBA in Sustainability Launch Event January 24, 2012
  •  
  • 1. Our UNSUSTAINABLE economic system
  • “ Safe Operating Space” -- The world is full “ Safe Operating Space” - National Center for Ecological Analysis and Synthesis
      • Symptom: Increasing Wealth Inequality
    http://www.inhabitat.com/2010/10/14/worlds-largest-and-most-expensive-family-home-completed/
    • Wealth Disparity:
    • 2% of population Controls > ½ the World ’s Wealth
    • 50% of population controls < 1% of World ’s Wealth
    • Income gaps between rich and poor > 2X in last 50 years
    Spain Denmark Norway Finland Sweden Netherlands Switzerland Belgium Germany Austria France Canada Italy Australia Ireland Greece New Zealand UK Portugal Japan USA Better Low Wealth Gap Wellbeing Worse High Wilkinson & Pickett, The Spirit Level (2009) Wealth Gap vs. Wellbeing
  • 2. How we got here O ur economy has become an anti-economy, a financial system without a sound economic basis and without economic virtues. - Wendell Berry
  • Economic Efficiency Economy Finance What ’s wrong with this picture? Desired Outcome Planet
  • The most important chart in the world…
  • Source: Lietaer, Ulanowicz, Goerner 2008 Sustainability in Natural Systems Collapse of Financial System Sustainability Optimum Efficiency 100% 0% Resilience
  • 3. Finance: Critical acupuncture point
  • Sustainable finance: bottoms up
      • Internalize externalities
      • - CSR, ESG
      • New tools
      • - Integrated reporting
      • New (and old) ideas
        • - Impact investment
  • Sustainable finance: top down (systemic)
          • We are lost in finance…
            • What is an “IRR” when we know everything is connected
            • What will replace MPT which sees risk as historical SD in a world facing “phase shift” uncertainty?
  • Stranded Assets: our $20 T “Big Choice”
      • 2 degree warming limit: 565 GtC02
      • “ Proved Reserves” have 5X this amount
      • 74% owned by States, 24% by companies
      • At current market value, $20 Trillion choice
    • Source: “Unburnable Carbon”, Carbon Tracker Report
  • Resiliency: Driving financial capital upstream http://3.bp.blogspot.com/_o0s746IzxZQ/TJwMEtnPvsI/AAAAAAAAAWo/lX-2e-wPZzo/s1600/upstream.jpg
  • John Fullerton jfullerton@capitalinstitute.org www.capitalinstitute.org Thank you