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Sir Ronald Cohen: “To achieve the best financial results we must take into account their social impact”

“The question is not whether we need to change, but what revolution to bring forward to change our lives.” This is the question that Sir Ronald Cohen asked himself at the second edition of the Sustainable Economy Forum, organized by Confindustria and San Patrignano within the community. “The interventions that preceded me showed what brought us here today: the world cannot continue to work as it has done so far. We see the consequences of capitalism, the enormous inequalities. All of us must therefore find a much better way to make the world work, but it does not mean inventing a new one ”.

So here is his proposal: “We need to measure not only the risk and return, but also the impact of investments: this is the new phase. With impact investments, we want to transform the measurement of impact into a change in behavior. We need to ensure that capital flows where performance is better, both in terms of risk, performance and impact. This means environmental, social and employment impact … We get the best financial results if we take into account the impact and not just the risks and returns “.

Hence the idea of social impact bonds: “Social impact bonds mean bringing impact to businesses and making investment choices and giving life to a new era of government policies. Only in this way will the invisible hearts of the market be able to guide its invisible hands ”.

The Sustainable Economy Forum 2019 is an initiative of Confindustria and San Patrignano . Institutional partners: E4Impact and International Trade Center; mainpartner: BNP Paribas , Sole24Ore ; top partners: Accenture , Eni , Hitachi Rail STS , Intesa San Paolo ; partners: Aon , Bracco , Acqua Alma , Celli Group brand, Ente Microcredito , IGP Decaux , Lavazza ; with the support of the IBM Foundation ; official car: Ford