tv DW News LINKTV May 13, 2022 2:00pm-2:31pm PDT
what is your solution. the last change beyond. the call of the nineteen. that is the question of this series of comes. after the first united nations. readers in the early nineteen nineties. world business council for sustainable development. to bring together so to have of the biggest companies in the world. today the organization but businessn peter parker let's focus on the transformation from business. challenges. i
think this is about ten years ago debbie spoke and yourself at the time well- brewer said it's five minutes to midnight and onc when he was launching. the indian troops to death in two. what time is it. it's a great to mystic but even in. it's about thirty seconds before midnight i would guess. the window to change on climate. most as as the world is experiencing on the equity closing down rapidly now you have said that there is a red regency yeah we basically. mmhm it. i think so what three years ago capitalism was the only
system that actually works for people and ultimately the plan to. i think you're right and i think. this provides a lot of benefits but what we begin to notice more modern and what is relatively recent. sign insights. we collectively are reaching the planetary boundaries in some cases we ve already done the truth about this. if you take into account banned capitalism is actually not having the incentive to stay within those boundaries. so i mean once we need to reinvent the collision is not so much we need to find a new model for capitalist. in fine the problem is we only focus capitalism on financial capital. and we at the moment human capal. and if wwereocial able to integrate environmental
pollution and social enjoyment. in two d. o. four sten. to john creating a sustainable world. i'm sure you've noticed that we bought stops accompany us to serve more interested on the shovels and basically started embrace whatever you stop on the trip will be gone such people often the most. i suppose but- why did it all on the you take and i think in in some parts of the world cruise would be considered a little late in. the world i would say it's a big step for in over we got the us you can. moved away from this world centric more. to struggle. well i think that's a big in. for four years for that country. there's all
kind of things to say i actually do not think to call at the list the same trouble bottom line right it's just. yes we need to. well that's what i is told differences stakeholder capitalism is we need to integrate those street. capital's into one list i come so we need to not only. no you get the maximum return on co and also think about the people in the- we need to mix those returns and then optimize the mixed water down one. for the first. the interest thing is that you know people have sort of study done said. look at the major industrial corporations that we all go in the world if you look at you well they get for free from nature the resources. seventy the value actually does come will be producing small profits
stronger than once the report last year the food in june reporter. yes scientifically okay dosed so. the front system of food and agriculture's culture companies combined to lose about ten billion dollar stock market took financial w. each year. and the house and environmental damage that gets done as a result tha trump system. down to twelve billion dollars. interesting when the stock exchange or in financial terms creates twelve. dollars is actually if you take all the cost for the environment and the people in the count. a negative. our system is being. both of these you know. small people's minds plastic locals many places the oceans wherever you want the goal and the problem of plastic is that it
doesn't degrade. as sometimes the- certains that. would bother sir. to change old last. sorry bout of plastic easy have a job rage now utah to companies what they that should make them jones. to please your me a challenge to us. i think yes this is actually. a pretty and example to look at. talk about transformation i don't mean that a company needs to incremenlly chang its model to introduce some alternatives for plastic. we need to fundamentally and rapidly change all of the six. which means what what are the designs of packaging material product applications prestigious that we need to consider what are the best ways to make those materials. do you. we'll see.
bills and it make sure all the gets cold. an explosive get sorry g. to think through all of the chain from the design to the of life. the states. david put out to be ocean took in dallas assaults the west past six in the oceans in the very way possible and the damage it does to the animals. thank we broke in initially for companiesogether and not helped create wt is now called the alliance to en breast waist. so i think it's fifty companies together if book one. billion dollars or company for in this project and side we will begin to look for solutions. these packaging and other applications action use faced whilst correction
immigrants flee to recycling face and collectively and that's i thinkhere marty essence. no ten years ago bob trucks the bill be one where is twenty eight and to be more sustainable. today the conversation is what dustin tellou train us all due. to become worse. james system will come from but also where the scale of the financial resources but also eventually the implementation top left control. may also help with that what i see is it you'd shops. nowadays the stranded asts that you create when you start changing i mean. this is a little less loss however will harbor got it. well ihink in general y know. it is not my station looking you open up the sector how do we move from diesel engines to. engine strip.
it's not just thanks which walk boring. the census word more. at whiskey growing awareness in corporations butlso in t public in general what system you want to be in this industry okay used to be. you know need to from where we are. 2% electric or a 100 degradable bio plastic waste was no waste. ere to siis no longer difficult question. the energy needs to be set in what is the transition house way to get from where we are today to where we are tomorrow. and given the size of systems we have built. in the world given the- it takes to change the behavior of individuals general.
you know you will use to pass the test packaging material or to diesel engines to go on holiday or whatever we do. thanks it's- it will restrain the persons that are outright losses overnight the nature it was sacked- reacts to tech will be. mass chuck burton. your grape ways to get to where we need to be and scenarios on how do you had been built off the acid base. there are real it control scenarios that we can boy. boundaries that science is going to make these changes. she listened to the climate scientist. are now telling us we need to stay below one and a half degree you're warming. we want to make a safe operating space for humanity. degree rming basically is translated into the world s. o. s. old
people and the planet we need to be at net zero carbon by no later than twenty fifty. we need to hardly mention spoke twenty thirty. well those are passwords that eighty indicate rapid change requesting 4100% where we are today and we need to hop in missions in the next ten years that's- right. but when fifty get chester years james and that allows us to move on to stranded passengers in a way that we probably could be worse. s. waste that we need to designeally that that's going to be the key to success. so possibility at some point you should be sacrificed for investments that are necessary but- i. wanted to. the issue. as a result-older thing that we have put in place a few years ago the task force for climate related. financial disclosures i think we're
making massive stocks for. i think b. x. factor did norm that a company must have a net zero carbon staed by no later than twenty sixty. the leading companies in the world are having. it or working towards it. i on the article need los equity i don't think we're at this the right level of urgency and that's where a lot of the efforts will need to go. but there is also a lot of good news to report you know in twenty twenty one so next year. it will be the first global folks systems segment. which is compatible to let's say the climate negotiationo much that we've had for many years thanks we have regarding climate when it comes to do science we need. yeah the entrust our involvement the solutions for business needs to grow up we will bring to that summit. hello we'll try to aclerate the transition in
the trucks just. if you look at what this corporate crime has done. it has been broken and big gbal challenge to our free family store staff. it's not meet you or another sustainability person telling the world there is a problem we need to change the oil everybody is stuck in their own world making telision intervie in our home offices. i am and we alover so real wow there's a big capable threat. and the smoke you know fundamentally changes my life. i'm hoping that that will really change the global awareness the global consciousness to ma these changes taken and colon not trusting chances. are od people i'm aware that this is connected to climate change and that the global warming. probably still stressed- science is really making a robot case. what is the link endemic like to we're suffering.
and the impact negatively impacted you want it could out for nature and natural best case which- will will need to be made to help people in the world and will be ma in the coming months. secondly what we what we are experiencing at the moments the amount of economic stimulus packages the governments around the world are putting in place. to deal with before how does this crisis are marmoset ripping at the- we had network. got so much money would be available to interested truck sure. vehicle me. if i could do. governments around the world she's bellis in in in many ways at the same time. business as usual any line is former or whatever and action oriented
than ihas being. so is. business in the leadership role here not whether the- top russian. the name of project. certainly the best is that i almost all of them are globally by now so not bound to nation states or national borders. i need this the macro has support chain where roman come from all around the world so. it's in a free market around the world. so it's not just one. country or one political system in which they operate they operate across borders. the cd environmental threats along with the change in which they operate. so it's not tru that you know because your country is not exposed to some of the rest oh and don't forget faster. the public opinion istepping back read them particularly i would argue that the fossil fuels is becoming alternate
wisconsin great doctor burke. mostly from into. the device. of systems that i mentioned before there's a real for fully sold fumes now building. so companies are looking these are good future customers. this is really the license to operate for our business so they have more in. chains captain work in u know back twenty. when paris accord were struck. the reason for the relatively ambitious status agreement was put together mr coast actors who were previously not part of the conversations she- police and told mark should be wordpress. workers should since this is we could actually be carbonized our superior our our our supply chains. policy mars the courage to say if we signed up to this agreement these actors seem to know how
to what are the solutions that can be implemented. i think this happened here. but government. to help this process do you so. absolutely i think you know. again i you know i work for the world business council for sustainable development which is an portant voice ithe sustainability. space but only rapper two hundred the large companies the world. so claim that will be in corners of the world will already be this is. and vote for. a government regulation needs to be put in place. same f the investor community. there no sign in practice better reading focal on the need to change capitalist. but it's far from global investors some foremost okay listing rules need to change and therefore we need government. so she does. not affect. your opinion but it. can be changed rules of the game that's no the cost will be.
busiss news to pay one the rules of the game i showed the strange are need to they are able to adapt. you know we had a great question about. and nineteen twenties. to place a- beautiful. the accounting. outside in control oversight that system at the time people criticize have leases they said this will be the end to capitalism hello could lead to help to. my friend you could say well this is. your company more you know which companies what do you have on that. why did i. think you have right we need to very arts and see. move to a an accounting standard. for esg reporting some forty environmental the social and the government's aspect so. any company's performance. so before. takeover capitalist is about integrating financial
environmental and social capital into bond circle of. my students results in order to be able to integrate that you need next to the financial accounting rules what works so well estlished long ago we need to get to accounting rules for environmental sure. and governance aspect of business that's why i always said to me i said that the first time back in twenty twelve it will geto see the world. because what we are able to establish the ny. financial of this. to our best. make sure he does that man dr the risks inhe environment and so aspects capital cost of capital that's the moment that's will. i would text that the he's guilty to talk works climate related disclosures framework will become mandatory
in many countries article twenty six so these are t type of ends that we now need to push for exploration. one we come to the world will be a part of this movement. disorder can be and therefore control the solutions that really work. what is interesting is that sometimes the company has just succded. and what is the concept of you don't have in our busiss is that maybe a company can also and this is this is it we get but we have to do and now we don't somebody else then a different company so we're not. going to. what is it that we concept business. well i guess i guess it's a bit it's a word distance if you're inside the company gross now. part of the success of a company having an engaged workforce and some pride in the people. morton brings them
together in i'm tony. by guest. battle with people that's also true for any human being. israeli syrian when being so would voluntarily died because you know we're we're happy to be alive. i think it's natural and you know it crisis like today see many companies go out of business. and you know some for some reasons because of the crisis on there for you know it's just accelerates trends that were already upon them. again once you incorporate environmental and social aspects. if it's- you know what i sa earlier there food system creates ten trillion financial. okay this is twelve trillion open bar. mental and how you. he's not but this is. yeah we all have to eat. so are we gonna do wellne easier would be were gonna the price of food. can we pay all the environmental and health aspects what made politically
be a very hard one. to swallow so what can we do to improve on that this is gonna be a big question that we need to. wrap up the answer in the coming years we both come from them. and we have a long time prime minister abbas of rock lovers at some point i recall being at a conference after he had to resign from office. and he both of us. more oup. hopewell rpm. justin you know yes you're not abouthe moment. and at some point actually he up. and he said we need to get angry. do you agree with roberts is a time that ands i need to get angry. the response thanks that's front of mind if i look at. the yellow dressed in france the extinction rebellion. in big parts of the world the black lives matter my and your- that's there's loads rancor those pro. and it is not me an individual making an
angry speech. that is the population saying the system is no longer serving us. i had the anger to back. six the when the some out. s. boardroom in the plastic industry hasatched that movie set. this is the cost of license to. about creating a sense of urgcy. and carefully to what all thi industry to probe are telling yes some you have to still be that you know the there's us that climate science is not robust- thoseays are just over you know anyone who is still denying climate should not be in any leading position this this is clear and we need to make those type of firm statements. first we need just create sounds weird. focus on solutions and tries hard. let those solutions are being rewarded by capital markets and that's- in my mind the better
way to mobilize. corporate leaders in any case number shouting at the- so we started this this composition woods going back about ten years when the- when it was five minutes to midnight and you've- to. six now and i know will be well a years from now on the very same issues of her working on today what time will it be done the mark wl be a- i. thi so realistic i think it's a reduction in global emissions. all right between thirty and 50% will be feasible and the there. i'm hoping that your stuff we talked about in accounting rules to cover more than just a financial accounts include the environmental and social aspects. become in the door and the cost of capital in capital markets will be calculated not just on the financial. assets of numbers
but on the broader set of numbers. if we can achieve goals three. attackers kpis and i think they are truly reasonable expectations. then it's five to twelve again with your renewal renewal outlook t accelerates to work twenty fifty. third world that we all need and want. what do you what do you like your personal contribution to be. well i think i think in my role in the world business council i can really help corporate leaders. map the transition risks in those pathways. and i'm hoping th we will have the leading contribuon and the exchange of capitalist. that's where i spend. my days that's where i wouldn't years now. promisedo stay be me my- restricting uncle than all the change that has grown upon us. the might try schedule to at least start
water was before. i would expect i would do a lot more working from home than i did last. so overall i should the way if i get your form able to make that stick. the energy i have to continue this fight will bmuch higher than the plus model's creek to travel with it in the past. thank you peter. you're in. soon school safety world says peter parker missed change the accounting rules to make sure to become a business involved in solving the world's toughest problems motor assy about to use of resources and social. welcome solutions stay well see. solutions is presented by the world business academy on
host: welcome to "global 3000." exploited -- how economic interests are pursued at the expense of the world's poor. in indonesia, big business is creating new markets. in brazil, we learn how the residents of favelas are now able to enjoy online shopping. and we find out what it's really like to work as a berry picker in portugal's greenhouses. ♪