On 23 January 2019 (12:00 - 2:00 PM CET), the Green Growth Knowledge Platform, Green Economy Coalition, MAVA Foundation, Natural Capital Coalition, Finance Watch, and World Wildlife Fund - France hosted an interactive panel discussion around the question "What is Wealth?" at the 2019 World Economic Forum Annual Meeting in Davos, Switzerland.
For decades, wealth has been miscalculated.
Now governments and corporations are starting to account for wealth in rather different terms. For the first time, natural capital and social capital is being quantified alongside productivity. This new approach is revolutionising what it means for a country or a business to be wealthy and profitable. It has the potential to overhaul historic divisions between rich and poor countries, or profitable and unprofitable companies, as credit rating agencies and investors shift behaviour.
The future of wealth will look rather different as natural and social capital will be integrated into financial statements and government budgets; as investments are stress tested against carbon and biodiversity; and as the asset portfolios of different countries or companies include their impacts upon natural and social capitals. When seen in this light, the SDGs are no longer abstract intergovernmental targets, but a roadmap for where our economies are heading.
In this interactive session, a leading panel of macro-economists, financiers and business leaders will consider what “wealth” will look like in the year 2030. Together with the audience, we will explore what that means for business and political leaders and how markets can prepare.
Moderator: Oliver Greenfield, Convenor, Green Economy Coalition
Presented by the Green Economy Coalition, MAVA Foundation, WWF-France, Finance Watch, the Natural Capital Coalition, and the Green Growth Knowledge Platform.
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This event is held in the context of the Economics for Nature programme, a six-year initiative focused on ensuring that nature has a voice in economic and planning processes. The GGKP is part of the core team alongside the Green Economy Coalition (GEC), The Scottish Wildlife Trust, and Finance Watch.
For more information, please visit the Economics for Nature webpage.