Corona Virus clearly shows the balance in the world is awful, and how vulnerable the capitalist system is. Impact investing is investing in a healthy world. A world that is less vulnerable. We all benefit from that.
We all need to use this time to heal, regenerate and plan for rebuilding and retooling our society. One can already see the benefits of moving slower, less haste, less co2, less air and water pollution and less crime. Sure, we are locked up our home, but we finally have time to actually connect and communicate with our family. People avoiding each other to maintain social distancing is a new experience. That is true. Just smile, instead of shaking hands or hugging or give the Wai (Thai Greeting). If possible, go for long walk and enjoy quiet.
There is a fundamental shift in how the financial system should be structured and who should benefit. To quote a HNW Sikh friend of mine. “Unsustainable paths are no longer feasible whether for the billionaires, Wall Street or Main Street. Our collective destructive behaviours need to stop and Covid-19 has shown us how damaging we are to ourselves and the planet.” Here we see a billionaire shouting loudly that the billionaires should not be bailed out. “Billionaires deserve to get wiped out”. This would have been unheard of a short while ago.
European leaders are showing leadership with Spain wanting to enlist Universal Basic Income. Pope Francis also called for Universal Basic Income, in his Easter message, “describing the pandemic as an opportunity for societies to “downshift” and re-evaluate patterns of consumption and exploitation.” The leading economies in Europe also decided to use the EU Green New Deal as the strategy for restarting the economy . Momentum to retool our capitalist system is there and growing significantly, and for the first time in long time, we see a drop in CO2 emissions. We will also see an unprecedented drop of 5 billion tons of CO2 emissions in 2020.
TBLI is expanding its 25 year mission of creating a financial system that works for all. Ultimately, all investments should have multiple returns for the investor, the environment and society (Triple Bottom Line-Social, Environmental and Financial).
If you want to learn more about TBLI and how this strategy will help deal with a Covid-19 World, listen to our weekly webinar Shareholders for A Better World. Every week we will have discussions and interviews with thought leaders who are truly working to create an inclusive financial system.
Next week April 22-14:00 CET- Impact Investing and Climate Change in the world of a Global Pandemic with Stephen Brenninkmeijer, Private Investor and Chair, Supervisory Board of European Climate Foundation Register here