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Future Capital Initiative
The world possesses all the financial resources needed to meet humanity’s material needs and foster wellbeing. Money is a unique human invention, a networking device to extend mutually beneficial human relationships in space and time, and a powerful instrument for promoting sustainable development and wellbeing. But the global monetary and financial system misconstrues its fundamental purpose and role in society and is underperforming and misperforming its intended role. A new financial paradigm is needed based on a fundamental change in consciousness and values.
On September 16-17, 2019 World Academy of Art & Science and Future Capital Initiative collaborated to convene a roundtable discussion at World Bank headquarters in Washington DC to explore ideas and practical strategies to enhance the effective use of money, financial markets and other forms of capital to address the climate crisis, implement the 17 UN SDGs and achieve other objectives that promote equitable development and wellbeing globally.
The World Bank meeting followed immediately the inaugural meeting on Future Capital at the UN in New York on September 12-13th co-convened by the UN Office of Partnerships, UNCTAD and the World Academy of Art & Science. It was followed by a roundtable in Dubrovnik, Croatia on November 18-20th. These events are part of the preparation for the Future Capital Summit 2020 at UN headquarters in New York.
The objective of the these meetings is to explore inadequacies in conventional theory and examine innovative institutional, national and global strategies for consciously transforming the application of capital to address pressing human needs and global challenges.