Intelligence Squared Business Weekly: Counting the Cost of Climate Change, with Kristian Rönn
Feb 21, 2022
Kristian Rönn shares insights on the urgent need for businesses to accurately report their environmental impact. He discusses his journey in launching a start-up that provides carbon-accounting software. The conversation highlights the challenges of developing universal carbon footprint standards and the complexities of emissions accounting. Rönn emphasizes the risks of an unregulated ESG market, calling for standardized metrics to ensure genuine sustainability efforts. This engaging dialogue underscores the necessity of understanding and addressing climate change costs in business.
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From Academia to Entrepreneur
- Kristian Rönn, despite initially aiming for an academic career, co-founded Normative out of a perceived necessity to address climate change.
- He realized that companies lacked adequate tools for tracking CO2 emissions, prompting him to develop a solution.
Startup Advice
- Start with identifying client needs and iteratively develop your product based on their feedback.
- Secure initial clients to demonstrate traction before seeking investment.
Evolution of Accounting
- Accounting practices have historically reflected societal values, starting with simple counts of assets and evolving into double-entry bookkeeping with trade expansion.
- Current accounting methods fail to capture environmental externalities like greenhouse gas emissions, necessitating an updated approach.