Tim Jackson is an ecological economist and writer. Since 2016 he has been Director of the Centre for the Understanding of Sustainable Prosperity (CUSP). CUSP is a multidisciplinary research centre which aims to understand the economic, social and political dimensions of sustainable prosperity. Its guiding vision for prosperity is one in which people everywhere have the capability to flourish as human beings – within the ecological and resource constraints of a finite planet.
Dr. Sarah Ivory, Senior Lecturer in Executive Education at the University of Edinburgh Business School, led the fireside discussion with Professor Jackson.
Professor Jackson addressed the urgent need to redefine economics and progress to effectively tackle climate change, biodiversity loss, and inequality as well as other challenges that conventional economics has failed to resolve. He critiqued the current economic system as unstable, driven by financialisation and fixation on growth and argued that this system has led to procrastination rather than progress, with growth rates in advanced economies declining since the 1960s.
Professor Jackson advocated for reframing investment as a commitment to the future, focusing on enterprises that generate societal value rather than merely financial returns. He stressed the importance of ethical finance in the transition promoting investments advocating for investments in growth-oriented sectors like renewable energy while avoiding harmful industries. He also highlighted the need for ongoing vigilance to ensure that investments remain aligned with societal progress. The critical role individuals play in fostering change, citing figures like Wangari Maathai and Peter McCase and their dedication to ethical investment and sustainability, was mentioned during the discussion.
Professor Jackson concluded by encouraging delegated to increase their awareness of the risks posed by vested interests that prioritise growth over societal well-being.