Global crises will not abate. It’s our job to learn how to deal with them, find a way to recover and move on. This was the keynote of the speech of Prof. Dr. Wayne Visser, special guest speaker at the third edition of the ESG&FRIENDS forum.
The event, organized by the first specialized media for the promotion of ESG in Bulgaria ESGnews.bg, took place at the Hilton Sofia Hotel under the motto “Re-position, Re-think, Re-grow”.
Prof. Dr. Visser began with ten “shocking” facts
8 – The number of times in the past 8 years that Climate / Extreme Weather has been rated as the top risk in the World Economic Forum’s annual Global Risks Report.
41 – Recent research estimates that half of the LGBT community remain closeted at work and 41% have left a job because of bullying.
68 – Research published concluded that 42% of all insect species are in decline and could die out. Vertebrate populations have fallen 68% since 1970.
169 – The gender pay gap between men and women is 40%. On current trends, it will take 169 years to achieve gender pay parity.
272 – CEOs of the S&P500 companies earned 272 times the average worker. At Amazon, it would take 6,474 years for the average Amazon employee to make the CEO’s annual salary.
108 million – More than 108 million people forcibly displaced worldwide in 2022 (up from 43 million in 2012). At the end of 2021, this included 35 million refugees & 63 million internally displaced=
702 million – The number of confirmed COVID-19 cases by January 2024, including nearly 7 million deaths – and still increasing daily.
250 billion – In 2023, Storms, floods, wildfires and earthquakes resulted in global losses of $250 billion, of which only $95 billion (38%) was insured.
3.6 trillion – The global cost of corruption $3.6 trillion, equal to 3% of the global GDP; businesses and individuals pay more than $1 trillion in bribes every year.
8 trillion – Damage related to cybercrime was around $8 trillion in 2023, up from $1.1 trillion in 2019 before the COVID pandemic.
These and other similar facts and problems make up the global crisis system, claims Prof. Dr. Visser. For him the way out is achieving sustainability.
These are challenges we face. Because of these shocks to which the global system is exposed, it is already unstable. Either it falls apart or we evolve and reach a higher level. For me, sustainability is the path to the evolution of the system,” believes Prof. Dr. Visser.
He also pointed out some basic steps that we need to take:
Restoring the eco system (actually we don’t need to restore it, we just have to let it restore itself);
Inequality in the workplace;
Access Economics for Investing;
Struggle to cope with diseases;
Investments in innovation;
Strong leaders with inspiring examples and followers.
What can companies do to achieve transformation?
Prof. Dr. Wayne Visser also gave his advice to companies wishing to achieve the transformation that will help them face crises more easily:
First of all, get rid of greenwashing. A vicious example here is the textile industry. Second, companies must be transparent about their product portfolio. Third, supply chains must be of beneficial value to nature, not create value at the expense of nature. Fourth – it is important to adopt the principle of circular economy and regeneration of natural systems. And last but not least, change will not be linear. People expect it to happen, which takes time. The right approach is to provoke change.”
We need to look beyond sustainability. We have destroyed our social, economic and natural systems. Our efforts should be directed towards achieving prosperity. Nature strives for this in a natural way. The goal should not be just to wake up and breathe. It is a mechanism for survival, but not for prosperity. We must also have a positive goal. It should not be limited to just wanting to do a little damage. We have to think in the direction of how to help, how to be active. In fact, the revolution is already happening, we just have to join it. Hope is not passive. It is not a lottery ticket with which we wait for happiness. No – it’s an axe to break a window or a door with. To find a way out and make our future ‘livable’.”
Prof. Dr. Wayne Visser is one of the most influential ESG experts in the world. He is a world-renowned writer, lecturer, academic, film producer, social entrepreneur and futurist focused on sustainable development, corporate social responsibility and the creation of integrated value. He is a lecturer at Cambridge University and Antwerp Management School. Prof. Visser is also a director of think tank Kaleidoscope Futures, founder of CSR International, former director of sustainability services at KPMG and strategic analyst at Capgemini. He is the author of 43 books, including the Amazon bestseller Thriving.
