Footprint Network Blog - 11/2012
Some of the economic implications of resource constraints were introduced to the world of international finance this week in London, when Global Footprint Network and the UN Environment Programme Finance Initiative (UNEP FI), in collaboration with leading financial institutions, launched the E-RISC (Environmental Risk Integration in Sovereign Credit) report at Bloomberg, a leader in global financial data.
The interactive event drew over 150 participants, including representatives from leading financial institutions, investors, asset management firms and rating agencies, including Caisse des Depots, SNS Asset Management, Standard & Poor’s, J.P. Morgan, KfW Bankengruppe, Deutsche Bank, HSBC and Barclays.
To date, tightening resource constraints and their impacts on national economies have been largely absent from financial analyses. The E-RISC report fills this gap by exploring to what extent resource and ecological risks can impact a nation’s economy and how these factors affect a nation’s ability to pay its debts.
Japan’s Prince Akishino and the Asahi Glass Foundation yesterday presented the Blue Planet Prize, one of the world’s premier environmental awards, to Global Footprint Network President Mathis Wackernagel and Dr. William E. Rees, co-creators of the Ecological Footprint, and Dr. Thomas Lovejoy, who was recognized for his work in advancing our understanding of biodiversity.
Two Blue Planet Prizes are awarded annually by the Asahi Glass Foundation to individuals or organizations that make outstanding achievements in scientific research and its application in helping to solve global environmental problems. The prize is considered one of the most prestigious in the field of conservation.
Building on Rees’ earlier work on human carrying capacity, Drs. Wackernagel and Rees in the early 1990s developed the Ecological Footprint, the world’s premier resource accounting system, to track humanity’s demands on nature. Dr. Lovejoy was the first to clarify that human-caused habitat fragmentation damaged biodiversity and gave rise to environmental crises.
The prize was presented Wednesday in the Tokyo Kaikan, across from the Imperial Palace, with the Imperial Highness Prince and Princess Akishino, ambassadors and members of the Asahi Glass Foundation in attendance. The photo shows Drs. Wackernagel and Rees receiving the trophy from Asahi Glass Chairman Tetsuji Tanaka. Dr. Wackernagel has donated his $300,000 share of the prize money to Global Footprint Network to advance the Ecological Footprint work, and has invited supporters to help match the gift.
“I am convinced more than ever that it is possible to turn our economies into stewards of our planet,” Dr. Wackernagel said in his acceptance speech. “We cannot continue forever to take more from the planet than the planet can give.”