WEBVTT 1 00:00:00.341 --> 00:00:02.924 (upbeat music) 2 00:00:04.260 --> 00:00:07.050 So impact investing is an enormous opportunity. 3 00:00:07.050 --> 00:00:10.260 For too long, the world has elevated the goal of profits 4 00:00:10.260 --> 00:00:12.420 over people and the planet, and that's inefficient. 5 00:00:12.420 --> 00:00:14.880 It's bad for people and it's bad for the planet. 6 00:00:14.880 --> 00:00:17.250 So if we go out and we buy oil from an energy company 7 00:00:17.250 --> 00:00:19.110 with a poor environmental record 8 00:00:19.110 --> 00:00:20.970 or we actually invest through our pension funds 9 00:00:20.970 --> 00:00:23.400 or our savings in that very same firm, 10 00:00:23.400 --> 00:00:25.860 and then with our philanthropic efforts, we go and we donate 11 00:00:25.860 --> 00:00:29.160 to an NGO who clean up the very same oil spills 12 00:00:29.160 --> 00:00:31.410 that we just supported with the rest of our activities, 13 00:00:31.410 --> 00:00:33.360 it's as if we're digging holes with one hand 14 00:00:33.360 --> 00:00:34.980 and filling them in with another. 15 00:00:34.980 --> 00:00:36.870 But thankfully, the world has changed. 16 00:00:36.870 --> 00:00:39.270 It used to be that we thought that doing good 17 00:00:39.270 --> 00:00:42.570 for the world actually costs money, but we've now recognized 18 00:00:42.570 --> 00:00:44.970 that doing good is actually an opportunity 19 00:00:44.970 --> 00:00:46.080 to make more money. 20 00:00:46.080 --> 00:00:48.840 And what we've seen is that profitability scales, 21 00:00:48.840 --> 00:00:51.450 so the things that work for companies 22 00:00:51.450 --> 00:00:53.340 and make more money for them are the things 23 00:00:53.340 --> 00:00:56.520 that actually make a greater positive impact in the world. 24 00:00:56.520 --> 00:00:58.290 It's probably easiest to see this in the case 25 00:00:58.290 --> 00:01:00.810 of climate transition--that is, investing money 26 00:01:00.810 --> 00:01:03.480 to mitigate climate change and adapt the world 27 00:01:03.480 --> 00:01:05.250 to the changes that we can't avoid. 28 00:01:05.250 --> 00:01:08.880 Look, by most estimates, the investment in climate change 29 00:01:08.880 --> 00:01:13.020 is going to require $150 trillion over the next 30 years. 30 00:01:13.020 --> 00:01:14.910 That's a mind-bogglingly large number. 31 00:01:14.910 --> 00:01:17.820 So to put that in perspective, it's as if you are investing 32 00:01:17.820 --> 00:01:21.120 in a new Beijing airport, the new Daxing Airport, 33 00:01:21.120 --> 00:01:24.630 every 27 hours for the next 28 years. 34 00:01:24.630 --> 00:01:26.040 It's an enormous investment 35 00:01:26.040 --> 00:01:29.010 and it's enormous investment in employment opportunity, 36 00:01:29.010 --> 00:01:30.180 but this isn't just about climate. 37 00:01:30.180 --> 00:01:32.400 It includes everything from food safety, 38 00:01:32.400 --> 00:01:34.740 inclusive growth for an aging population, 39 00:01:34.740 --> 00:01:37.470 preserving biodiversity, and a whole lot more. 40 00:01:37.470 --> 00:01:40.110 And so rather than fighting the drive for profits, 41 00:01:40.110 --> 00:01:44.100 we as consumers, as investors, as employees and voters, 42 00:01:44.100 --> 00:01:46.410 can work to make it more profitable 43 00:01:46.410 --> 00:01:48.930 for companies to deliver the things that actually matter, 44 00:01:48.930 --> 00:01:50.340 that make the world a better place 45 00:01:50.340 --> 00:01:52.020 for people and the planet. 46 00:01:52.020 --> 00:01:53.100 And we not only want to hear 47 00:01:53.100 --> 00:01:54.660 that these companies are taking action 48 00:01:54.660 --> 00:01:56.460 on a range of sustainability issues, 49 00:01:56.460 --> 00:01:58.260 we want to see the receipts to know 50 00:01:58.260 --> 00:01:59.460 that the things that we're doing, 51 00:01:59.460 --> 00:02:02.130 that the choices that we're making, actually matter, 52 00:02:02.130 --> 00:02:04.110 so we can align our choices with our values, 53 00:02:04.110 --> 00:02:06.937 and in doing so, make the world a better place. 54 00:02:06.937 --> 00:02:09.604 (upbeat music)