Journal

Swanning Around Europe

Every so often in my life, things seem to go into warp speed, for better or worse. That has certainly happened in the past few weeks, with the diary suggesting that another acceleration is imminent: Germany, Holland and Canada incoming.

Am currently shaking off a bad dose of flu, unsure whether I picked it up in all the air travel this month or whether it came from the 4-way flu jab I had a couple of weeks back as I walked back from somewhere through Fleet Street. Either way, let’s say I haven’t been feeling myself this week.

Still, am also much buoyed by the early responses to my requests for what the publishers cheerfully call “advance praise” for Green Swans. Quite (American sense) moving, some of the comments on the book.

Otherwise, here are some of the things that have been keeping me busy since the last entry – with visits to Amsterdam to speak at the GIIN Investor Forum, Finland to chair the first meeting of the new Neste Sustainability & New Markets Advisory Council, to Copenhagen (to speak at Deloitte’s ‘Dinner on the Edge’ – losing an aircraft engine along the way and having to swap planes at Heathrow – and then, the next morning, to a UN Global Compact breakfast on the future of the restaurant sector), a speech at the London Business School for Michael Norton and a fascinating group of Chinese alumni of the CK Graduate School of Business (speaking alongside Howie Frumkin, head of the Wellcome Trust’s Our Planet, Our Health initiative), and then, on Friday, across to the London Stock Exchange, very early for me, for the launch of their new Green Economy Mark and Sustainable Bonds Market.

Here’s what they say about the LSE initiatives: The Green Economy Mark recognises listed companies with 50% or more of revenues flowing from environmental solutions, while the Sustainable Bond Market (SBM) incorporates new Sustainability, Social and Issuer-Level Segments. These initiatives are designed to support issuers implementing sustainable business models, and investors who are increasingly focusing on environmental products and services supporting the transition to a low carbon economy.

A case of serendipity, the LSE one: was invited by our neighbour Stewart Lloyd-Jones and his partner Tamara Gehring, who works for the LSE.

B Summit And SDG Forum

Delighted to keynote the B Corp Summit in Amsterdam, at the Muziekgebouw. Around 650 attendees, including Sabine Oberhuber, who it was wonderful to catch up with overlooking the water. The Green Swans concept went down a storm. As it did the following day, 24 September, when I was in Brussels, keynoting the SDG Forum in The Square conference centre.

Interesting panel session followed this second keynote, moderated by Annabelle Van Nieuwenhuyse, the Belgian presenter, with (Baron) Pieter Timmermans (CEO of the Belgian Confederation of Industry, FEB), Launy Dondo (UK Belgian Youth Delegate for Sustainable Development), Marc Leemans (Chairman of the Christian Union, a trade union) and Nicolas Van Nuffel (Perspective 2030).

Timmermans could hardly have been more unreconstructed, effectively arguing that industry only creates solutions, not problems. It was almost as if he was trying to be a caricature. At one point he said that Green Swans “might fly, but if they are not fed and watered they will die.” Well, yes. Happily, though, the youth, union and think-tank panellists were all powerfully aligned with the Green Swan agenda. But a perhaps timely reminder of just how far we still have to go in some quarters.

Business Declares Launches

‘We are a group of business leaders, who want to accelerate action on the climate emergency and we are working on a voluntary basis. We have set up a not for profit company to run Business Declares as a campaign to the end of 2020. We welcome help and volunteer support from all those who support our aims.‘

So begins the Business Declares campaign, which we launched earlier today at the ICAEW (Institute of Chatered Accountants for England & Wales). A tremendously engaged and supportive atmosphere, with a standing room only audience. In kicking off, I held up a copy of this week’s astounding Financial Times front page, to underscore the point that the business mode on change is itself changing

Afterwards, some 30-40 of us travelled across to Westminster by bike and Tube to take part in the climate protests. A wonderful spirit abroad, with agitation but great good humour. Amazing what Greta Thunberg has managed to kick off. Later, headed home to do a call and continue the final stages of the book.

A wake-up moment for me this morning was when Stephanie Biden of Bates Wells (who are Volans’ lawyers) explained how they had got to the point of declaring a climate emergency. She noted that they had concluded that there were two necessary steps, rather than one: (1) to recognise the Climate Emergency and, (2), to declare what steps they planned to take in response. For me, it was if the clouds had parted.

Capitalism: Time For A Reset

Our autumn campaign has taken off with a bit of a bang. But, first, Elaine and I went across to a wonderful gathering on Thursday 12th at CDP to discuss next stages with fund-raising for the proposed Amulet memorial to Tessa Tennant in the City of London.

And the following day, Friday 13th, we went across to the Kochs (the good ones, not the bad ones), just the other side of Barnes Pond, to hear Mike Koch talk about his new book on his life as a wildlife vet in Africa. Called: Through My Eyes. Self-published and he’s hard to find on the internet, but a glorious, landmark publication.

At the weekend, while we were walking across Barnes Common, we watched as the wind stirred the ribbons on the plane tree that has been re-purposed as a memorial to Iris Goldsmith. Normally such memorials make me uneasy, including the vast mountains of plastic-wrapped flowers outside Kensington Palace when Princess Diana died, but in this case the effect is wonderful. A wind-powered tribute. Rather as if people are talking all around, with the ribbons picking up the zephyrs.

Then across to Copenhagen on Monday to speak at Dansk Industry (Confederation of Danish Industry)’s annual business summit, this time on the theme of the Green Transition. The event was attended by the country’s new Prime Minister, Mette Frederiksen, who I found impressive; the Crown Princes and Princesses of Denmark and Sweden; and some 1,300 CEOs and business leaders. Was told by several people that my speeches here in February helped put wind in the country’s sails.

The scale of what Denmark now aims to do collectively is breath-taking. To reduce carbon emissions by 70% below 1990 levels by 2030. Various speakers admitted they didn’t yet know how to achieve this, but the level of ambition is admirable and encouraging.

In my speech, I linked one of Denmark’s favourite sons, Hans Christian Andersen, to my evolving theme of Black Swans, Ugly Ducklings and Green Swans. As a test-run for the book, due to launch in January 2020, it seemed to go very well.

Then, on Wednesday 18th, after I flew in from Copenhagen, Louise (Kjellerup Roper) and I went across to the Royal Society to listen to Bill McDonough at an event hosted by Tim Smit and the Eden Project. Glorious meeting of the tribes, though at times uncomfortably warm.

And ringing around my head all week have been the words on the yellow banner wrapped around the September 18th edition of The Financial Times, shown below. I first caught sight of it as I walked into the Copenhagen airport lounge – and my immediate reaction was that it was one of those milestone moments when you actually see the world starting to tilt and pivot.

Green Swan Video Launches in Land of Ugly Duckings

Tomorrow, I speak at the Confederation of Danish Industry’s ‘Green Transition’ summit in Copenhagen. And it hadn’t escaped my notice that Denmark is the home of Hans Christian Andersen, the writer who gave us the Ugly Duckling – a key concept in my forthcoming book, Green Swans: The Coming Boom in Regenerative Capitalism.

Happily, and with huge thanks to Lisa Goldapple and her team at Atlas of the Future, we now have a 20-minute Green Swans video laying out key elements of our evolving exponential change agenda. Largely filmed at our 23 June event at the Barnes Wetland Centre, it features such people as:

– Mark Campanale of the Carbon Tracker Initiative
– Chris Davis of The Body Shop International
– Nick Haan of Singularity University
– The Rt Hon Nick Hurd, MP, at the time Minister for Northern Ireland and for London
– Andrew Kerr of the Sustainable Eel Group
– Jeremy Oppenheim of SYSTEMIQ
– Cathy Runciman of Atlas of the Future
– Hein Sas, of the flat oyster conservation campaign in Holland
– Sir Tim Smit of the Eden Project
– Tanya Steele of WWF UK
– Solitaire Townsend of Futerra

I am delighted with the way the video has turned out, capturing the main themes of the event, but we now also hope to cut it down into more sound bitey sequences to communicate the agenda to a wider audience. I won’t be able to say very much about the video tomorrow, but it seemed like an eminently suitable launch point for the Green Swans campaign that we plan to develop through 2020.

UN Spotlights Our Tomorrow’s Capitalism Inquiry

Volans continues to beaver away on our Tomorrow’s Capitalism Inquiry – so it’s exciting to have some of the early results spotlighted in the 2019 Global Goals Yearbook. The piece, by Richard Roberts and I, runs to six pages. Also wonderful this week to have our latest thinking posted on the Harvard Business Review website. Our title there: ‘6 Ways CEOs Can Prove They Care About More Than Shareholder Value’.

Two Weeks @Home

Just coming to the end of a fortnight of working from home, coupled with flashes of staycation. Coincided with figs ripening in the garden. And an opportunity to do things like: finally get a large sofa for our newish Somerset House offices; entertain friends; visit Kew Gardens, to see the Dale Chihuly exhibitions and have lunch overlooking the Palm House; visit Gaia’s dazzling floral display chez Roland Mouret; and trundle across to Oxford to see the Last Supper in Pompeii exhibition at the Ashmolean – and have lunch with Geoff (Lye) and Sarah (Ellis).

On the work front, I went back and forth with Fast Company Press, the publishers of my new book, all going very well; did some outreach for both Volans and for the Business Declares Network, where I am now on the Board; worked with Lisa Goldapple to evolve our film on Green Swans and Regenerative Capitalism, due out later this month; and developed a piece for HBR.org, due out tomorrow, in response to the Business Roundtable’s statement on the future of capitalism.

Perhaps inevitably, another book idea began to bubble, too, spurring a good deal of background research into areas I don’t normally probe.

We also watched a fair amount of television (including glorious programmes like the last of Jim Al-Khalili’s Revolutions series, focusing on telescopes and the last one, on robots and artificial intelligence) and last night finally watched a DVD of Bohemian Rhapsody, utterly joyous.

And I read for England, while feeling increasingly angry about the direction that the Johnson regime is taking the country in. Looks as though I will be out on the streets again soon.

Books I particularly enjoyed, or at least found fascinating, included Diarmid Ferriter’s The Border, Donald D. Hoffman’s The Case Against Reality, and, on the fiction front, and in the sequence in which I read them, Gareth Rubin’s Liberation Square, Joanna Kavenna’s ZED (am minded to buy everything she has ever written) and Pat Barker’s exquisite The Silence of the Girls – the last exquisite in Barker’s use of language, not in subject matter. Intriguing that all three are by the same publisher, Penguin Random House.

79 Years Ago Today

The Tide Turns At Last

I am quoted in this Fast Company piece on a milestone announcement by the Business Roundtable. Literally 25 years after I came up with the Triple Bottom Line, the Business Roundtable in the USA has made an announcement potentially reversing over 50 years in which Milton Friedman’s doctrine of shareholders-above-everything-else has prevailed.

The article by Rick Wartzman opens as follows:

For the past two decades, the official stance of America’s top corporate executives has been that the interests of shareholders came before the interests of all others—workers, consumers, the cities and towns in which their companies operated, and society as a whole.

The Business Roundtable, a lobbying group composed of the nation’s leading CEOs, just announced that its members “share a fundamental commitment to all of our stakeholders”—each of whom “is essential”—while pledging “to deliver value to all of them, for the future success of our companies, our communities, and our country.”

With its “Statement on the Purpose of a Corporation,” the Roundtable has affirmed the need for “meeting or exceeding customer expectations”; “investing in our employees,” including by “compensating them fairly and providing important benefits,” as well as offering training and education so that they can “develop new skills for a rapidly changing world”; “dealing fairly and ethically with our suppliers”; “supporting the communities in which we work”; and “generating long-term value for shareholders.”

Jamie Dimon, the CEO of JPMorgan Chase and the Roundtable’s chairman, says he hopes that this declaration “will help to set a new standard for corporate leadership.”

It is, without question, a huge deal.

Read the full piece here. Just over a year after my ‘product recall‘ of the Triple Bottom Line, via the Harvard Business Review, it feels as if the world is beginning to catch up.