"What people find when they leave the system is a confusing, byzantine, and slightly scary world of health insurance, taxes, pensions, and regulations."
aw requiring larger companies to spend 2 percent of each year's profit on those kinds of initiatives.
The law kicks in for companies with a profit of at least $80 million over the past three years.
t outlines nine "pillars" that can fulfill the requirement, one of which is "ensuring environmental sustainability," under which installing solar systems falls. This likely will incentivize more solar development because it's an area that provides businesses with a return in investment.
Companies must use a new auditor every five years and any given auditor can't serve more than two five-year terms; an auditor can't serve more than 20 companies; and auditors can be criminally liable if they knowingly or recklessly omit information in their reports.
So capitalism, with all its faults, is the only game in town. The task confronting the present generation of leaders is to improve on it, to build on its strengths and eradicate its weaknesses.
It became all about "having more," instead of "living more."
Addressing the weaknesses of capitalism will require us, above all, to do two things: first, to take a long term perspective; and second, to re-set the priorities of business.
If business is to regain the trust of society, it must start to tackle the big social and environmental issues that confront humanity, especially at a time when governments seem increasingly to be caught in shorter and shorter election cycles and have a hard time internalizing the global challenges in an increasingly interdependent world. As I have said many times, "business can not be a mere bystander in the system that gives it life." The environmentalist Paul Hawken believes that if there is any deficit we are facing right now, it's a deficit of meaning. Many are talking about the need for a GDP+. A broader measure of success than just simply wealth creation.
Small actions, big difference. Yes, we all have a role to play.
However, research conducted concurrently by several different firms, including the Associated Press, suggests that while Harvard might have benefited well from its oil and gas investments in the past, the marketplace, with the world’s increased focus on climate issues, was changing. “Fossil fuel free” investments now stand to earn more
In 2005, in response to increasing pressure from student and human rights groups, the university announced it would be divesting from overseas companies like PetroChina and Sinopec that allegedly had ties with Sudan. However, two years later, the student-run paper, Harvard Crimson, reported that the university still maintained investments in those overseas companies.
What President Faust’s letter didn’t address was the relationship between investment and reputation. Harvard’s reputation is shaped by what it invests in, not just in what it teaches or promotes in research. So is its brand as an impartial, but forward-thinking institution that doesn’t want to be perceived as a “political actor.” But climate change is altering not only how we harness energy but how we view the political landscape. As a poet once told me, “everything is political.” It’s how we deal with that landscape and the choices we make that shapes how others view us.