The Coronavirus pandemic has exposed a fragile and dysfunctional economic system, with inequalities reaching unsustainable levels, and globalisation and democracy challenged from all sides. Against this backdrop, founder of Apax Partners; author of the recently published Impact Revolution and newly announced chair of IPEM 2021, Sir Ronald Cohen, explores a new way forward for the world’s financial markets.
The capitalist model that has served us for more than 200 years, lifting millions out of poverty, is no longer fit for purpose, Sir Ronald Cohen, a founding father of the impact investment movement, announced on a webinar hosted by IPEM last month.
“It has become a self-defeating system in the sense that companies are chasing profits but at a huge environmental and societal cost, which governments then try to remedy through taxation,” he explained. “We are just digging a deeper and deeper hole for ourselves.”