The profit-at-all-costs mentality is doing untold damage to the planet and society. It’s pretty clear that the high rates of economic growth we’ve seen in the past are not sustainable. Audrey Choi from Morgan Stanley’s Institute of Sustainable Investing sums up the problem this way: “By 2050, more than nine billion people will inhabit the planet. The demand for food, energy and water will increase dramatically along with the population. It is easy to say we hope government or philanthropy will figure out a way to help, but private capital can and must play a role in addressing these very large global challenges.”
Global problems like climate change need a collective solution immediately, but world leaders continue to drag their feet. As Audrey says, charities, not-for-profits and governments around the world are working hard to address these issues but ultimately it is up to private capital to fill the gap.