TED Talks Daily To save the climate, we have to reimagine capitalism | Rebecca Henderson
Nov 11, 2020
In this insightful discussion, economist Rebecca Henderson advocates for a reimagined capitalism to tackle climate change. She argues that unchecked capitalism harms the environment and human health. Rebecca highlights that companies must take responsibility for their climate impact and proposes a bold vision where businesses pay for the environmental damage they cause. She outlines a four-pillar strategy for sustainability and critiques the hidden costs of fossil fuel consumption, urging a shift towards practices that prioritize ecological health.
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Unfair Market Prices
- Current market prices don't reflect the true costs of goods.
- This is because firms emitting greenhouse gases don't pay for their environmental damage.
Norsk Genvinning's Success
- Eric Osmondson, CEO of Norsk Genvinning, fought corruption in the garbage industry.
- He raised prices to cover ethical disposal, facing initial backlash but ultimately succeeding.
Four Pillars of Change
- Build profitable businesses with fair pricing.
- Encourage competitors to adopt ethical practices and engage investors and governments in creating sustainable regulations.