I enjoyed a collection of recent articles in the New York Times focusing on the role of the private sector in sustainability and market based solutions to poverty, and recommend them to those interested in the topic. (Click on the headlines for the full articles).
The author notes that over the past 10 years, there has been a "quiet revolution" in the way many scholars and advocates think about aid. The revolutionary shift is the central philosophy that rich countries shouldn’t see themselves as responsible for coming up with theories about how poor countries can become richer. Rather, he says, "the rich countries allow the poor ones to determine what they think needs to happen — more girls in school, more vaccination, better access to global markets for farmers — and then pay money to whoever comes up with an actual solution. Governments, nonprofits and private-sector companies can compete on who can do this best."
Howard Warren Buffett, the grandson of the Berkshire Hathaway founder Warren E. Buffett has co-founded an operating company with big ambitions — essentially mimicking the structure of Berkshire Hathaway, but with a major difference in strategy. The plan is for the new company, called i(x) Investments, to invest in early-stage and undervalued companies that are working on issues such as clean energy, sustainable agriculture and water scarcity. “We’re looking at the long-term horizon and investments that are doing more than avoiding bad, but are actually trying to improve the world,” Mr. Buffett said. “It’s about taking the potential for capitalism to the next level.”
Unilever CEO Paul Polman has made sustainable production — of Hellmann’s, Lipton tea, Dove soap, Axe body spray and all the other products Unilever makes — the company’s top priority. Detergents are being reformulated, packaging is being reduced, and the company is taking steps to find more more eco-friendly food ingredients. But the transformation is not a simple one, and the article notes that before Unilever can "transform the world," it must focus on changes within the company.
Image source: New York Times
-- Clara Shen