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Mike Clark's avatar

Dear Ana,

A big YES. I am pleased to see the depth and breadth of the experience in Bob's network (NB are you friends with Dorothy yet, Ana?!).

Let me offer you some of my pespective:

*Our thinking is still too often framed by a financial risk frame

*We need to understand more deeply that "price" in financial markets (the price of financial risk) is a poor aggregator of societal risks. (To be clear, societal includes environmental)

*Carbon markets are the economist's answer, the economist's tool

*Nature is humanity's answer, humanity's tool

*I am a storyteller (and an actuary, yes really!). I am delving into the psycholgy of risk as I seek a deeper root cause analysis that we need to reach and then embrace (helped by my time chairing a corporate financial Risk & Audit Board Sub-Committee).

*Global economic activity, often delivered by individual companies, is starting to find that one of its biggest suppliers is starting not to deliver. Company execs are warning their board that nature's free and underpriced inputs to that company's economic activity are reducing, sometimes rapidly. Big implications for profit expectatoins and investor return expectations.

*Citizens want their savings, especially the long term ones, to finance (and insure) the economic activity that supports the transition. And avoid the other type. Too often the finance sector "gets in the way". See memetic Markov blankets :):)

Enough for now. If you ever want to connect, Bob knows me well.

Best, Mike

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