Introduction
At the heart of the debate on how to address the "climate crisis" lies the deep-seated issue of overshoot and over-consumption. Despite numerous efforts, consumption, emissions, and ecological degradation continue to accelerate. Alarmingly, six of the nine identified climate tipping points have already been breached, with the seventh - ocean acidification - on the verge of tipping. Clearly - we need a new strategy. We need a new way to incentivize business to strive for “sustainable profits” rather than rewarding business for achieving “profits at all costs”.
This white paper will showcase how the “The 3 Laws of Business” (created by Climobilize) can re-shape business policy to overcome obstacles that for decades have hindered progress towards sustainable profits. The policies and strategy will unfold from within the Scorpion’s Tail Club, a discreet forum for influential leaders from the financial world, specifically the fields of insurance, banking, investment and pensions.
The Club’s ultimate goal will be to establish systems level policy change (anchored by the 3 Laws) with accompanying policy and legislation. This will be achieved through 4 working groups for each of the 4 financial sectors, each working to embed the 3 Laws into their respective focal topic: governance, metrics, finance and innovation.
The Scorpion’s Tail Club and its efforts were inspired by the report, Climate Scorpion – The Sting is in the Tail, prepared in partnership with the University of Exeter and the Institute and Faculty of Actuaries. The report convincingly argues that we should view climate risk as a problem of ‘Planetary Solvency’, understanding and managing risks to the long-term survival of global society.
To read the full white paper, click HERE.
To read the Executive Summary, click HERE.
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