On 7 February 2023, IQ-EQ joined forces with Nomura and Latham & Watkins to host our flagship Crossroads event, where the debate centred around the ‘conscious capitalism’ revolution and how we can act as champions of good in the industry.
Capitalism in its current state has created a number of challenges, as we’ve found ourselves in a situation where:
- 42 people together hold the same wealth as 3.7 billion of the world’s poorest
- 50% of the world’s population has seen no increase in wealth
- 8.15 million people (one in ten) in the world are malnourished
- One in nine people lack access to clean water and one in three people lack access to a toilet
As a result, entrepreneurs have been prompted to do business differently, conscientiously – opening the door for ‘conscious capitalism’ and making money whilst doing right by the world. Its arrival is timely, as alongside the issues mentioned above, challenges in geopolitics, the global economy and environment are all having a major impact on society. Luckily, the concept of conscious capitalism has emerged as a solution to solve the issues that we are currently facing.
Therefore, in our eyes, conscious capitalism can’t be seen as a nice-to-have; it must be the only way to do business. It’s the natural evolution of capitalism and, with a new generation coming through who think very differently to their predecessors, creates a deeper meaning and purpose beyond profits that allows your businesses to scale and remain relevant in the future.
Of course, many are still sceptical about whether “conscious” and “capitalism” can exist in the same sentence, but with more companies beginning to consider additional stakeholders, the debate continues: Is doing well by doing good really possible?
For us, the answer is yes. We help global investors focus on impact investing and preserving capital in a sustainable and ESG-compliant manner.
Our belief is clear – the investment industry has a massive role to play in ensuring that the conscious capitalism revolution really takes off. Investors are already starting the trend, as they are increasingly allocating capital to businesses that strive to make the world a better place.
Alongside panellists Augustin Duhamel from 17Capital, Nicole Curti from the Alliance of Swiss Wealth Managers, Andrew Bowley from Nomura, our chairman Serge Krancenblum and keynote speaker Dr Pippa Malmgren, we discussed where the conscious capitalism concept comes from, what it looks like in reality, its necessity for clients and employees alike, and how we need a change of mindset to push the boundaries of what we believe in.
We’re now pleased to share a new white paper detailing the key discussion themes from this year’s IQ-EQ Crossroads, including the origins of the conscious capitalism concept, why people should pay attention, and what conscious capitalism looks like in practice. Click below to view and download: