Day 3 started with a lecture from Simon Zadek about HOW to finance a sustainable future. In his role as Co-Director of the UNEP Inquiry into the Design of a Sustainable Financial System he could give us a quite an interesting insight what is already happening on the markets right now. Surprisingly for me – according to Simon and based on the results of the survey the UNEP conducted in the past two years – neither the UK or the US or any other big OECD country is going to lead the change of the financial system which we need so badly. Instead the leaders of the „green finance“ will be the emerging markets!
However, if you think about it, it does make sense: Their markets are still in development and not hold up by lobbying and long-time established ideology. Moreover, considering that the emerging markets (e.g. China and India) are already severely experiencing the impacts of climate change, they also have an immediate NEED for change! As Simon had put it, children in Beijing are dying everyday going to school because of the smog in the city. And nobody wants their children to die, right?!
Therefore, there is already a lot of „funky stuff“ going on in markets like India, Brazil, South Afrika, Indonesia, China, Bangladesh etc. For example China has established a green finance task force which could become an international game changer while the OECD countries still have a huge reluctance to consider an environmental policy framework.
The next speaker, Sean Kidney (CEO and co-founder of the Climate Bonds Initiative), introduced Green Bonds as THE new way of how to finance a sustainable future. He was followed by Marloes Nicholls from „Move your Money“ and Meteos introducing her „personal approach“ concept to make all the difference in the financial system. In a nutshell, the approach tries to give the average person a better understanding of the financial system and also tries to encourage engagement. On the other hand, it strives to make bank directors and other decision makers in the financial system realize the social impact of their work.
After that, we had a delicious lunch provided by FoodCycle, a great local initiative which uses food waste (= food that would otherwise go into the bin) to reduce food poverty.
In the afternoon there were the very last lectures of the meeting from Sam Frankhauser about the role of the government and another presentation from Bernard Lietaer on the collective psychology of money.
Afterwards oikees had the chance to present different projects they are working on at the project fair. Team Vienna was represented by Michi and Anna. The latter is part of the COMMIT Learning Circle which aims to change management education. More on their great workshop on Sunday morning is going to come soon on the blog, so stay tuned! Strictly speaking, Michi was not presenting an oikos project but the company he works for: Treeday. However, it is still a great idea, so you should check it out 😉
To sum it up, day 3 was just as interesting and insightful as the days before. However, as all good things have to come to an end we were already celebrating the closing dinner & party on Saturday evening. And what a party! oikees not only know how to change the world towards a more sustainable future but also how to have fun 😉
As you can see, on the flight back to Vienna:
I guess no further explanation needed 😀
– by Astrid