Capital Institute’s John Fullerton Spoke at Columbia University on the Importance of Finance and the Role of Students in Advancing Sustainability
Mr. Fullerton shared critical insights on the use of finance and impact investing to transform our unsustainable economy and revealed what the Capital Institute is doing to realize reform.
New York, NY, December 06, 2010 --(PR.com)-- John Fullerton, President and Founder of the Capital Institute, an organization bridging mainstream finance with the new economy movement and related efforts to rethink the nature of economics and our financial system, shared a fresh perspective on the importance of finance and the of role students in advancing economic and environmental sustainability with students and faculty at Columbia University on November 16, 2010.
Mr. Fullerton introduced his presentation with a brief description of his personal journey, beginning with his experience at JPMorgan where he spent nearly 20 years, served as Executive Director, and led LabMorgan. He became increasingly aware that modern finance was fueling an unsustainable economy and was compelled to take a proactive role in reversing the situation, which culminated in his departure from Wall Street and the conception of the Capital Institute at the outset of the current financial crisis.
“I used to think I began my career at the most interesting time in finance,” stated Mr. Fullerton. “However, now is undoubtedly the most interesting and important time in the history of civilization to enter the world of finance and economics. The global financial crisis has revealed an unraveling and unsustainable economic system, and we now face the challenge of restructuring our economy so that it serves, rather than exploits, people and the planet.”
In describing the present state of our economy, Mr. Fullerton emphasized that finance and economics have breached the boundaries of our biosphere, noting that the global economy now uses up 1.5 times the earth’s capacity to regenerate its natural capital, according to the Global Footprint Network. He added that today’s students and future generations will experience dire consequences if the global economy’s precarious state is not addressed.
Mr. Fullerton declared that students have an integral role in driving systemic transformation, affirming that each person must advocate for the cause, raise consciousness, and influence those who are driving the economic system. This concept, he explained, is key to the Capital Institute’s theory of change: The Power of the 1, which also targets the wealthiest 1% of the population. According to Mr. Fullerton, affluent individuals have an opportunity to use their wealth as the fuel for change and a duty to direct their capital so that it advances a sustainable economic system.
A student intrigued by this concept asked: “How do you motivate the wealthiest 1% of the population if they benefit from the system that is the root of these problems?”
Mr. Fullerton replied, “You do it by raising consciousness about the problem, and you offer tools and information to encourage more pragmatic choices. You remind them of their responsibilities as capitalists. We must work collectively to advocate reform and apply pressure to the leaders of our financial and political system.”
To view Mr. Fullerton’s presentation at Columbia University please visit the Capital Institute website.
About the Capital Institute:
The Capital Institute stimulates the interaction and action of leaders, scholars, and society by raising awareness of the need to harness the power of capital and markets to advance a just, resilient, and sustainable economic system that will improve lives and preserve Earth’s life support systems. As a think tank rooted in traditional finance, the Institute engages in research, project leadership and sponsorship, education, advocacy and consciousness-raising initiatives to bridge the gap between the new economy movement and mainstream finance. For more information please visit www.capitalinstitute.org.
###
Mr. Fullerton introduced his presentation with a brief description of his personal journey, beginning with his experience at JPMorgan where he spent nearly 20 years, served as Executive Director, and led LabMorgan. He became increasingly aware that modern finance was fueling an unsustainable economy and was compelled to take a proactive role in reversing the situation, which culminated in his departure from Wall Street and the conception of the Capital Institute at the outset of the current financial crisis.
“I used to think I began my career at the most interesting time in finance,” stated Mr. Fullerton. “However, now is undoubtedly the most interesting and important time in the history of civilization to enter the world of finance and economics. The global financial crisis has revealed an unraveling and unsustainable economic system, and we now face the challenge of restructuring our economy so that it serves, rather than exploits, people and the planet.”
In describing the present state of our economy, Mr. Fullerton emphasized that finance and economics have breached the boundaries of our biosphere, noting that the global economy now uses up 1.5 times the earth’s capacity to regenerate its natural capital, according to the Global Footprint Network. He added that today’s students and future generations will experience dire consequences if the global economy’s precarious state is not addressed.
Mr. Fullerton declared that students have an integral role in driving systemic transformation, affirming that each person must advocate for the cause, raise consciousness, and influence those who are driving the economic system. This concept, he explained, is key to the Capital Institute’s theory of change: The Power of the 1, which also targets the wealthiest 1% of the population. According to Mr. Fullerton, affluent individuals have an opportunity to use their wealth as the fuel for change and a duty to direct their capital so that it advances a sustainable economic system.
A student intrigued by this concept asked: “How do you motivate the wealthiest 1% of the population if they benefit from the system that is the root of these problems?”
Mr. Fullerton replied, “You do it by raising consciousness about the problem, and you offer tools and information to encourage more pragmatic choices. You remind them of their responsibilities as capitalists. We must work collectively to advocate reform and apply pressure to the leaders of our financial and political system.”
To view Mr. Fullerton’s presentation at Columbia University please visit the Capital Institute website.
About the Capital Institute:
The Capital Institute stimulates the interaction and action of leaders, scholars, and society by raising awareness of the need to harness the power of capital and markets to advance a just, resilient, and sustainable economic system that will improve lives and preserve Earth’s life support systems. As a think tank rooted in traditional finance, the Institute engages in research, project leadership and sponsorship, education, advocacy and consciousness-raising initiatives to bridge the gap between the new economy movement and mainstream finance. For more information please visit www.capitalinstitute.org.
###
Contact
Capital Institute
David Al-Ibrahim
212.925.6900
capitalinstitute.org
David Al-Ibrahim
212.925.6900
capitalinstitute.org
Contact
Categories