Sustainability, Future and Finance


Last week I was talking in a conference organized by Morningstar, a huge global financial operator . In the conference, a cream of financial advisors were present.

I was the last speaker of the day. As it was my to turn to hop on the stage, I realized that no one has even mentioned a word sustainability there. Nothing of the sort: a lot of talk about the desperate debt burden of Europe and US, speculations about which asset classes might be profitable in the future, and so on. Long-term investing, sustainability, climate change, resource crisis we are embarking as we speak....they had been clearly absent during the day.

So I decided it is time to talk about these topics. I started off by saying: "you are the managers of immense wealth and thus power. Do you want to be a part of the problem or a definite part of solution as the world is running against the wall of unbearable production and consumption patters? You can be a part of solution, if you wish so. But I hear not much talk about that". I continued by describing how the world is about to change as we are hit by 6th Wave, the tidal change that is taking us into the next decades and changing our industrial patterns forever.

I was happy to receive a quite a lot of positive remarks of the content of my presentation.

It has been calculated that roughly a fifth of world's investment capital, a tough bunch of 30 000 billion US dollars, has been allocated along the responsible principles, as defined by UN. This figure shows that something is happened. But until I hear it becomes a common talk in these sort of investor gatherings to talk about sustainability issues I am doubtful whether a real change -to be happened inside the minds of the people running this business - that is so urgently needed , is really underway. Let's do everything that these "news" hit this audience soon.

You may listen to my interview at the conference.