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Finance for Sustainability Bard MBA in Sustainability Launch Event January 24, 2012. http://pricetags.files.wordpress.com/2008/04/800px-london_millenium_wobbly_bridge1.jpg.

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  1. Finance for Sustainability Bard MBA in Sustainability Launch Event January 24, 2012 http://pricetags.files.wordpress.com/2008/04/800px-london_millenium_wobbly_bridge1.jpg

  2. A collaborative space to explore and effect economic transition to a more just, resilient, and sustainable way of living on this earth through the transformation of finance. THINK – PRACTICE - TEACH

  3. 1. Our UNSUSTAINABLE economic system Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist - Kenneth Boulding, Economist, Quaker, Co-Founder of General Systems Theory

  4. “Safe Operating Space” -- The world is full “Safe Operating Space” - National Center for Ecological Analysis and Synthesis

  5. USA Worse Wealth Gap vs. Wellbeing • 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 Wellbeing • Symptom: Increasing Wealth Inequality Portugal UK Wilkinson & Pickett, The Spirit Level (2009) Greece Ireland New Zealand Better France Austria Australia Low Canada High Wealth Gap Denmark Germany Italy Spain Belgium Switzerland Finland Netherlands Norway Sweden http://www.inhabitat.com/2010/10/14/worlds-largest-and-most-expensive-family-home-completed/ Japan vv

  6. 2. How we got here Our economy has become an anti-economy, a financial system without a sound economic basis and without economic virtues. - Wendell Berry

  7. Desired Outcome What’s wrong with this picture? Economic Efficiency Finance Planet Economy

  8. The most important chart in the world…

  9. Sustainability in Natural Systems Optimum Sustainability 100% Collapse of Financial System 0% Resilience Efficiency Source: Lietaer, Ulanowicz, Goerner 2008

  10. 3. Finance: Critical acupuncture point

  11. Sustainable finance: bottoms up • Internalize externalities • - CSR, ESG • New tools • - Integrated reporting • New (and old) ideas • - Impact investment

  12. 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?

  13. 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

  14. Resiliency: Driving financial capital upstream http://3.bp.blogspot.com/_o0s746IzxZQ/TJwMEtnPvsI/AAAAAAAAAWo/lX-2e-wPZzo/s1600/upstream.jpg

  15. Thank you John Fullerton jfullerton@capitalinstitute.org www.capitalinstitute.org

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