20
Interview
Flemmich Webb talks to Carbon War Room board member José María Figueres, former president of Costa Rica and a prominent business and
low-carbon visionary
Leading the carbon revolution
José María Figueres has the kind of CV that makes the rest of us wonder what we’ve been doing all our lives. From president of Costa Rica (1994- 1998) and managing director, then CEO, of the World Economic Forum (2000-2004) to his current roles as managing partner of investment and
wealth management company IJ Partners and chairman of the Carbon War Room (to pick out just some of the highlights), there can be few people on the planet better placed to off er an assessment of the impending transition to a global low-carbon economy. Given the snail-like pace of political leaders in reaching
international consensus on climate change action and the steady annual rise in global carbon emissions, Figueres argues it’s time for business to take the lead on transforming our carbon-reliant global economy into a low-carbon alternative. Because, he says, there is no other show in town – and healthy profi ts to be made. “Financial success for businesses in the medium (ten
years) to long term will greatly depend on how well they incorporate principles of sustainable development,” he says. “In the short term, it is almost inevitable we will see economies and businesses act as they have always done.
But over the next decade, more and more businesses will understand the opportunities inherent in moving in the direction of a low-carbon economy. “By re-engineering processes to make them less carbon
intensive and more effi cient in the use of materials, businesses will also become more competitive and therefore more profi table.” In his mind, there is a clear link between reducing carbon and increasing profi ts. But as he observes, businesses – apart from a few “pioneers” – are taking a while to recognize this fact. He cites three reasons: “First, governments have been slow to put in place the regulatory frameworks that send markets the correct signals to invest in the transformations that would take us to a low-carbon economy.
“Second, not all companies fully understand the opportunity inherent in this migration to strengthen
CREATING CLIMATE WEALTH
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