‘We’re on the cusp of a very positive transformation’
How fast will sustainability investing become mainstream? Bertrand Badré is a former managing director of the World Bank and the founder of Blue like an Orange Sustainable Capital, a company that invests in sustainable projects in emerging countries. We talked with him about the challenges of sustainable development, the role the private sector can play and the main ideas developed in the book he recently authored on this topic.
• Public and private sectors must tackle sustainability hand in hand
• Trillions for US dollars are needed to fund sustainable development
• Investor’s money needs to be allocated differently at a global level
The main thesis of your book is that finance can serve the ‘common good’. Could you explain what you mean by ‘common good’ and how it relates to concepts such as sustainability investing and ESG?
“The question of the common good is a difficult one. It is a fairly Western concept. I have talked with Chinese people and there is nothing equivalent in their culture. They have things such as harmony or peace. I think we can describe it as a harmonious development of our societies or what in new international jargon is known as sustainable development. In other words, a development model that respects the remuneration of not only financial capital but also human capital, social and societal capital and natural capital.”