Thursday, May 24, 2007

Think bigger - Phil Angelides

Phil Angelides, former State Treasurer of California who would have preferred an introduction as "the Governor of California" and who is now back in the private sector, as he put it, "by popular demand" addressed the Investors Circle conference. He congratulated the assembled for being on the vanguard of "tearing down the walls" between financial and social responsibility.

Said Angelides" "We need to think bigger. We need to mobilize capital to solve the major problems of society. Two of those problems, that must be solved, if we want a sustainable global economy, are:
  • Redress global poverty
  • Combat global warming
Capital markets - and those who manage them - Angelides presumes, want to keep the economy moving. Capital stewards need to be at the forefront of these fights. Major and small investments, policy actions, institutional and individual actions are all required to address these problems. Angelides argued passionately that moving capital toward solutions for poverty and global warming are in the self-interest of capital managers.

This is the key to the argument - any argument. Finding the way to meet the self-interest of those who disagree with you.

No comments: