A presentation from Vision 2050 co-chair, Mr Idar Kreutzer (CEO,
Storebrand) focused on challenges, transformation and opportunities
for business. He raised concerns over the growing demand of
fossil fuels, water, and so on, with high population growth,
which could lead to resource insecurity and an ecosystem collapse.
The need to develop pathways that can quantify market potential
and exploit the available opportunities was highlighted. The
business response to the challenges included providing a platform
to affect a change.
After acknowledging that the biggest risk that business face today is inaction, the session proceeded towards a group discussion, facilitated by Mr Mark Spelman (Global Head of Strategy, Accenture, UK), to identify the ‘must haves’ for implementing Vision 2050.
The following broad themes were identified:
Need for government action to reduce negative subsidies, introduce strong legislations and offer incentives
Improving efficiency by investing in R&D and emphasis on green technologies.
Need for internalizing cost, reducing externalities, risk-sharing amongst various stakeholders.
Increasing public awareness via multimedia, making efforts to alter consumption patterns and lifestyles, empowering women and youth.