{"id":8995,"date":"2022-03-24T09:00:48","date_gmt":"2022-03-24T08:00:48","guid":{"rendered":"https:\/\/www.cbcsd.cz\/?p=8995"},"modified":"2022-04-13T13:04:58","modified_gmt":"2022-04-13T11:04:58","slug":"peter-bakker-in-conversation-with-imd","status":"publish","type":"post","link":"https:\/\/www.cbcsd.cz\/en\/peter-bakker-in-conversation-with-imd\/","title":{"rendered":"Peter Bakker in conversation with IMD"},"content":{"rendered":"<p>In conversation with David Bach, Professor Strategy and Dean of Innovation at IMD, our President and CEO Peter Bakker declared that now is the time to reinvent capitalism. As part of IMD&#8217;s&nbsp;&#8220;The Interview&#8221; series, Peter expressed that business leaders must shift their mindsets to build long-term resilience in the aftermath of the pandemic and take a regenerative approach to business models. You can watch Peter&#8217;s&nbsp;full conversation with IMD by clicking here.<\/p>\n<div class=\"elementor elementor-7867\" data-elementor-type=\"wp-post\" data-elementor-id=\"7867\" data-elementor-settings=\"[]\">\n<div class=\"elementor-inner\">\n<div class=\"elementor-section-wrap\">\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-34f1aa3b elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"34f1aa3b\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-73d77853\" data-id=\"73d77853\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-7c29a0c2 elementor-widget elementor-widget-header-video\" data-id=\"7c29a0c2\" data-element_type=\"widget\" data-widget_type=\"header-video.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"container--none\">\n<div class=\"header header--media\">\n<div class=\"header-container\">\n<div class=\"header--media__wrapper\">\n<div class=\"header__content-block\">\n<a class=\"mwm-aal-item\" name=\"its-time-to-reinvent-capitalism-says-world-business-council-for-sustainable-development-ceo\"><\/a><h2><a href=\"https:\/\/iby.imd.org\/videos\/the-interview\/its-time-to-reinvent-capitalism-says-world-business-council-for-sustainable-development-ceo\/\" target=\"_blank\" rel=\"noopener noreferrer\">It\u2019s time to reinvent capitalism, says World Business Council for Sustainable Development CEO<\/a><\/h2>\n<p><iframe title=\"Time to reinvent capitalism: new ways of doing business\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/K-Je40lUFS0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Peter Bakker says business leaders must shift mindsets to build long-term resilience in the pandemic aftermath and take a regenerative approach to business models. &#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-219f0f88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"219f0f88\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7f206cab\" data-id=\"7f206cab\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-53d71b00 elementor-widget elementor-widget-imd-text-editor\" data-id=\"53d71b00\" data-element_type=\"widget\" data-widget_type=\"imd-text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix container--narrow section-spacing\">\n<p><span data-contrast=\"auto\">Is it time to reinvent capitalism?<\/span> <span data-contrast=\"auto\">For Peter Bakker, President and CEO at the World Business Council for Sustainable Development (WBCSD), the answer is a resounding \u201cyes\u201d, and he called for new ways of doing business beyond pure shareholder value creation. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cYes, we need to continue to perform financially well and therefore shareholder capitalism will remain a part of the mix,\u201d says Bakker, in an exclusive dialogue with <\/span><a href=\"https:\/\/www.imd.org\/faculty\/professors\/bach-david\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">David Bach<\/span><\/a><span data-contrast=\"auto\">, Professor Strategy and Dean of Innovation at IMD. However, Bakker argues for a new type of leadership, in which individuals show the courage<\/span> <span data-contrast=\"auto\">to build regenerative business models<\/span> <span data-contrast=\"auto\">and ensure a just transition that leaves no one behind: \u201cWe need to understand and be able to manage and improve the environmental and the social impacts of our business\u2026in a truly integrated style of management.\u201d<\/span><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Bakker spotlights three momentous worldwide challenges: the climate emergency, nature loss, and mounting inequality.<\/span> <span data-contrast=\"auto\">The COVID-19 pandemic proved that these challenges are interconnected, and that our economic systems are ill-prepared for massive shocks \u2014 like the shortage of semiconductors rippling through <\/span><a href=\"https:\/\/iby.imd.org\/supply-chain\/missing-links-what-next-for-global-supply-chains\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">global supply chains<\/span><\/a><span data-contrast=\"auto\">.<\/span><b><span data-contrast=\"auto\"> \u202f<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">WBCSD is the premier global, CEO-led community of over 200 of the world\u2019s leading sustainable businesses working collectively to accelerate the system transformations needed for a net zero, nature positive, and more equitable future.<\/span> <span data-contrast=\"auto\">Bakker,<\/span> <span data-contrast=\"auto\">a Dutchman<\/span> <span data-contrast=\"auto\">who has for a decade led WBCSD based in Geneva, Switzerland, says<\/span> <span data-contrast=\"auto\">business leaders must perform three mindset shifts: <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">moving capitalism towards a more inclusive economic model;\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">building long-term resilience; <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">taking a regenerative approach to business beyond simply reducing a firm\u2019s ecological footprint.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<a class=\"mwm-aal-item\" name=\"regenerative-business-models\"><\/a><h3>Regenerative business models<\/h3>\n<p><span data-contrast=\"auto\">He says that \u201cin order to restore nature\u2019s capacity to support us all, we need to have regenerative business models,\u201d approaches that make the restoration of the health of individuals, communities and the planet part of corporate purpose. It is a departure from current models based on environmental or human resource exploitation and waste, contributing to climate change and insecure livelihoods.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Another central leadership attribute needed to confront these challenges is courage.<\/span> <span data-contrast=\"auto\">\u201cWe\u2019re going to have to fundamentally challenge everything we do,\u201d says Bakker, citing the electric vehicle revolution as an example. Several carmakers are now doing what was previously unthinkable: phasing out the internal combustion engine altogether, despite its striking commercial success.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cThis is going to be the decade of transformation,\u201d he says. \u201cThat\u2019s where courage will be needed,\u201d adds Bakker, since it\u2019s not easy \u201ctelling your investors: \u2018Hey, my business model today is actually broken.\u201d The transition is the challenge: \u201c\u2019My business model\u202fa decade out\u2019 is pretty clear. But what\u2019s going to happen to the cash flow in-between? That\u2019s where courage comes in.\u201d\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<a class=\"mwm-aal-item\" name=\"stranded-assets\"><\/a><h3>Stranded assets<\/h3>\n<p><span data-contrast=\"auto\">Bakker was formerly CFO and then CEO of TNT NV, the global transport and logistics company.<\/span> <span data-contrast=\"auto\">In his view, the risk for organizations which do not undertake drastic business model transitions is that some their key assets become stranded \u2014 unable to earn an economic return. In recent years, stranded assets, such as oil and coal reserves, have resulted from the policy- and societal responses to climate change and investors are now pricing the diminished value in.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Customers and employees have for some time pressured companies to become part of the solution. But the emergence of investors as another pivotal stakeholder pushing for change has created a new sense of urgency.<\/span> <span data-contrast=\"auto\">Bakker says: \u201cWhat we\u2019re now beginning to see is that capital markets are beginning to price in the risks\u2026That is really making this a boardroom topic of the highest priority.\u201d<\/span><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Another growing risk factor is litigation. \u201cVery new legal threats are emerging,\u201d he says.<\/span> <span data-contrast=\"auto\">\u201cCompanies have lost court cases, forcing them to have more ambitious [carbon reduction] plans. This is a trend that is beginning to pop up. So it\u2019s not just capital markets [driving change], it\u2019s a completely changing landscape.\u201d\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In a landmark legal case last spring, for instance, Royal Dutch Shell, now Shell plc, was ordered by a Dutch court to increase its emissions cuts, potentially setting a global precedent for corporations with big carbon footprints.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5e705306 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5e705306\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2014974c\" data-id=\"2014974c\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-1e25c0c6 elementor-widget elementor-widget-imd-blockquote\" data-id=\"1e25c0c6\" data-element_type=\"widget\" data-widget_type=\"imd-blockquote.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"container--narrow\">\n<blockquote><p>This is going to be the decade of transformation. That\u2019s where courage will be needed.<\/p><\/blockquote>\n<p><cite>Peter Bakker<\/cite><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-903be13 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"903be13\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c7e0c1\" data-id=\"5c7e0c1\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-08a2d41 elementor-widget elementor-widget-imd-text-editor\" data-id=\"08a2d41\" data-element_type=\"widget\" data-widget_type=\"imd-text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix container--narrow section-spacing\">\n<a class=\"mwm-aal-item\" name=\"a-just-transition\"><\/a><h3>A just transition<\/h3>\n<p><span data-contrast=\"auto\">As organizations worldwide race to decarbonize, Bakker stresses the need for a \u201cjust transition\u201d to a green economy that ensures broad-based opportunities.<\/span> <span data-contrast=\"auto\">\u201cIf we do not take people along in the transition, then people will reject it,\u201d he says, noting the eruption of huge social unrest in various parts of the world, from the <\/span><i><span data-contrast=\"auto\">gilets jaunes<\/span><\/i><span data-contrast=\"auto\"> (yellow vest) protests in France starting in late 2018 to the worldwide Black Lives Matter Protests in 2020.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Last summer, WBCSD launched the <\/span><a href=\"https:\/\/tacklinginequality.org\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">Business Commission to Tackle Inequality (BCTI)<\/span><\/a><span data-contrast=\"auto\">, an initiative to mobilize the global business community to address escalating levels of inequality and generate shared prosperity for all.<\/span> <span data-contrast=\"auto\">Bakker wants to bring inequality up to par with climate change (and increasingly nature loss) in terms of attention and action from business. \u201cThat\u2019s an area where I think we really need to put a lot of focus,\u201d he says.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">One step companies can take is to ensure a living wage is paid across their supply chain.<\/span> <span data-contrast=\"auto\">\u201c<\/span><span data-contrast=\"auto\">I think it\u2019s going to be essential that we change value chains so that [action] goes way beyond the boundaries of [any] one company,\u201d says Bakker, stressing the concept of \u201csystems transformation\u201d, or players across government, industry, academia, and civil society working together to achieve sustainable development.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<a class=\"mwm-aal-item\" name=\"systems-transformation\"><\/a><h3>Systems transformation<\/h3>\n<p><span data-contrast=\"auto\">While business can take a leading role, he believes it must work together with scientists, policymakers, investors and consumers to create the impact and speed necessary to achieve <\/span><a href=\"https:\/\/www.wbcsd.org\/Overview\/About-us\/Vision-2050-Time-to-Transform\"><span data-contrast=\"none\">Vision 2050<\/span><\/a><span data-contrast=\"none\">, a shared vision for business<\/span><span data-contrast=\"auto\">\u2014 the goal of which is to transform enough so that the world\u2019s more than nine billion inhabitants are able to live well, within planetary boundaries, by mid-century.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Vision 2050 sets out a new framework to guide business action in the coming decades across nine areas of business activity that are essential to society \u2014 including energy, transportation, health and wellbeing, water and sanitation.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This will only be possible with collaboration at unprecedented levels, says Bakker. In particular, he sees a role for business in helping\u202fgovernments be bolder on climate action.\u202f<\/span><span data-contrast=\"auto\">Many scientists and activists view the commitments made at <\/span><a href=\"https:\/\/iby.imd.org\/sustainability\/cop26-represents-call-to-action-for-business-leaders\/\"><span data-contrast=\"none\">COP26<\/span><\/a><span data-contrast=\"auto\">, the recent climate summit in Glasgow, as insufficient.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With the private sector accounting for the bulk of global emissions, Bakker says it falls to companies to show policymakers the way by setting and benchmarking their own targets.\u202f<\/span><span data-contrast=\"auto\">\u201cSustainability is <\/span><span data-contrast=\"auto\">too often seen as a doom and gloom story, whereas I actually think it\u2019s the biggest technological innovation opportunity that business has ever had. There\u2019s enormous potential to differentiate from competitors by taking action.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">He urges companies to measure themselves and report their activities to investors, which could change behaviour effectively and give businesses a credible position from which to lobby governments. \u201c<\/span><a href=\"https:\/\/hbr.org\/2013\/03\/accountants-will-save-the-worl\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">Accountants will save the world<\/span><\/a><span data-contrast=\"auto\">,\u201d as he stated in 2013 already. <\/span><\/p>\n<p><em>Zdroj: <a href=\"https:\/\/iby.imd.org\/videos\/the-interview\/its-time-to-reinvent-capitalism-says-world-business-council-for-sustainable-development-ceo\/\" target=\"_blank\" rel=\"noopener noreferrer\">www.iby.imd.org<\/a><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In conversation with David Bach, Professor Strategy and Dean of Innovation at IMD, our President and CEO Peter Bakker declared that now is &#8230; <a class=\"cz_readmore\" href=\"https:\/\/www.cbcsd.cz\/en\/peter-bakker-in-conversation-with-imd\/\"><i class=\"fa fa-angle-right\" aria-hidden=\"true\"><\/i><span>\u010c\u00edst v\u00edce<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":8992,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","iawp_total_views":0},"categories":[31],"tags":[],"_links":{"self":[{"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/posts\/8995"}],"collection":[{"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/comments?post=8995"}],"version-history":[{"count":1,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/posts\/8995\/revisions"}],"predecessor-version":[{"id":8997,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/posts\/8995\/revisions\/8997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/media\/8992"}],"wp:attachment":[{"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/media?parent=8995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/categories?post=8995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cbcsd.cz\/en\/wp-json\/wp\/v2\/tags?post=8995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}