Global S&T Development Trend Analysis Platform of Resources and Environment
The triangle that will fix capitalism | |
admin | |
2020-01-20 | |
发布年 | 2020 |
语种 | 英语 |
国家 | 国际 |
领域 | 资源环境 |
正文(英文) |
Published: Mon, Jan 20, 2020
Type: Insight
It is remarkable how the agenda in this 50th edition of the World Economic Forum (WEF) Annual Meeting has shifted towards calling for a move to stakeholder capitalism, as issued by Klaus Schwab in the new Davos Manifesto. The theme of the 2020 forum itself is: “Stakeholders for a Cohesive and Sustainable World”. How do we get there in a capitalist world? For the first time in the history of WEF’s Global Risk Report, environmental risks dominate the top 5 most likely and impactful risks. Climate, inequality and biodiversity are now top on every business leader’s mind. Yesterday, a second important input was issued: the annual Edelman Trust Barometer report, showing that trust in institutions continues to be under pressure, driven by the fear for the future of work and inequity. What also jumps out is the fact that 56% of the respondents think that “capitalism as it exists today does more harm than good in the world”. All this to point out that a radical transformation of our economic systems is now inevitable. The energy system needs to decarbonize; the food- and land-use system needs to stop the destruction of nature and provide healthy food for all; we need to move to a circular economy that strives for zero waste; we need to ensure we meet the basic needs of all people on this planet; and we need more liveable and greener cities. Most importantly, the capitalist system needs to give better incentives – the cost of capital should be lower for companies and assets that achieve the transformations that people and the planet need. As I have argued in my earlier “Garbage in, garbage out: systems transformation in a capitalist world” blog, I do not believe that capitalism itself is the challenge. The conversation needs to focus on how we redirect capitalism to truly accelerate the required transformations now. The fix is relatively simple and I would call it the Triangle of Stakeholder Capitalism:
I am urging all business leaders in Davos and beyond to embrace the new norm of signing up to clear targets and using a common language for our reporting. Simple accounting rules around meaningful ESG indicators – driving the risk assessment, strategic scenario building and management decision-making like TCFD is doing – towards the delivery of the science-based targets, will make Capitalism drive us towards the sustainable world that will serve all people and protect our planet. |
URL | 查看原文 |
来源平台 | World Business Council for Sustainable Development |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/227618 |
专题 | 资源环境科学 |
推荐引用方式 GB/T 7714 | admin. The triangle that will fix capitalism. 2020. |
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