Do you know what ESG funds are? On 22 January, the UK government, the City of London and the British Standards Institution (BSI) launched an initiative to classify this new paradigm of the capital market. Rodrigo Tavares, professor at NOVA School of Business and Economics (Nova SBE), is the Portuguese who will lead the process.
Pedro Oliveira, scientific coordinator of the Paradigm Shift programme and holder of the Calouste Gulbenkian Foundation Chair for Impact Economics, talks a little about the initiative that will take place in November and December. The Paradigm Shift is a programme that seeks to transform organisations towards a sustainable future.
Residents of Canada's Fogo Island have depended on cod for centuries as a primary source of income. In 1992, the Canadian government announced a moratorium on cod fishing in the northern Atlantic Ocean as a way to bolster a dwindling stock. However, this measure generated a wave of unemployment that forced many residents of Fogo Island to leave the industry and the community, significantly decreasing the island's population.
Al Gore recently stated that sustainability is "the greatest investment opportunity in history" [1] and that "impact investing has the scale of the industrial revolution and the speed of the digital revolution". But how can companies change their business to this new paradigm without compromising their present?