Sustainable Development Impact Summit 2019
September 23, 2019, New York, USA
Sustainable Development Impact Summit 2019
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SDI 2019 - Building a Sustainable World
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About speakers

Sanjay Bhatnagar
CEO at WaterHealth International
Cheryl L. Dorsey
President at Echoing Green
Salah Goss
Vice President, International Development at Mastercard Worldwide
Precious Moloi-Motsepe
Deputy Chairman and Chief Executive Officer at Motsepe Foundation
Geoff Mulgan
Chief Executive Officer at National Endowment for Science Technology and the Arts (NESTA)
Raj Kumar
President and Editor-in-Chief at Devex
Klaus Schwab
Founder and Executive Chairman at World Economic Forum
Gavin Newsom
Governor of the State of California at United States Office of the Governor

Investor in and Operator of Water, Energy and Technology Businesses.

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Cheryl L. Dorsey is a pioneer in the social entrepreneurship movement, and the President of Echoing Green, a global organization seeding and unleashing next-generation talent to solve the world’s biggest problems. Prior to leading this social impact organization, Cheryl was a social entrepreneur herself and received an Echoing Green Fellowship in 1992 to help launch The Family Van, a community-based mobile health unit in Boston. She became the first Echoing Green Fellow to head the social venture fund in 2002. An accomplished leader and entrepreneur, she has served in two presidential administrations as a White House Fellow and Special Assistant to the U.S. Secretary of Labor (1997-98); Special Assistant to the Director of the Women's Bureau of the U.S. Labor Department (1998-99); and Vice Chair for the President's Commission on White House Fellowships (2009-2017). Cheryl serves on several boards including the SEED Foundation, The Bridgespan Group, and, previously, the Harvard Board of Overseers. She has a medical degree from Harvard Medical School and her Master’s in Public Policy from Harvard Kennedy School and received her Bachelor’s degree in History and Science magna cum laude with highest honors from Harvard-Radcliffe Colleges. Cheryl has received numerous awards for her commitment to public service, including the Pfizer Roerig History of Medicine Award, the Robert Kennedy Distinguished Public Service Award, the Manuel C. Carballo Memorial Prize, and Middlebury College

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Salah Goss is the Head of the Mastercard Labs for Financial Inclusion in Nairobi, Kenya, responsible for overseeing the development of digital solutions that positively impact low income households in Africa, and other developing markets. In her previous role as Vice President, Global Products and Solutions at Mastercard, she was focused on creating partnerships with the development community, NGOs and governments to design payments, data and financial solutions that fostered financial inclusion, and addressed wider economic development challenges. Salah previously worked at the Bill and Melinda Gates Foundation where she focused on innovative business models for mobile-enabled financial products. Prior to the Gates Foundation, she worked in Africa as a financial analyst at Sanabel Microfinance Network of Arab Countries in Cairo, Egypt and then help lead the establishment of the West Africa regional office of the Soros Open Society Foundation based in Dakar, Senegal. She is a member of the Global Aspen Fellowship Network.

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Businesswoman and philanthropist. Former Medical Doctor, Wits University. Chairman, African Fashion International. Co-Chair, The Motsepe Foundation; through the Foundation, works towards poverty alleviation and the empowerment of South African communities. Member: The Harvard Kennedy Women's Leadership Board; The International Women Forum of South Africa. Interests: development of South African fashion designers; to contribute towards growth and consolidation of the fashion industry; to promote and develop young talent in South Africa; to promote and expose South African designers to the global fashion market.

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A social entrepreneur and digital media executive, has been a part of nine presidential campaigns and was a co-founder of a successful financial information company. Founding President & Editor-in-Chief, Devex, the media platform for the global development community. Saw the world-shaping potential of Devex while a graduate student at the Harvard Kennedy School and promptly dropped out to build it. Active investor in ground-breaking start-ups. Member: Council on Foreign Relations; Clinton Global Initiative. Chair, World Economic Forum Global Agenda Council on Humanitarian Response. Has been profiled in Forbes, the Financial Times, Foreign Policy, and the Washington Post, where Devex was called the Bloomberg of foreign aid.

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Professor Klaus Schwab was born in Ravensburg, Germany in 1938. He is Founder and Executive Chairman of the World Economic Forum, the International Organization for Public-Private Cooperation.He founded the Forum in 1971, the same year in which he published Moderne Unternehmensführung im Maschinenbau (Modern Enterprise Management in Mechanical Engineering). In that book, he argued that the management of a modern enterprise must serve not only shareholders but all stakeholders (die Interessenten), to achieve long-term growth and prosperity. Schwab has championed the multistakeholder concept since the Forum’s inception, and it has become the world’s foremost platform for public and private cooperation. Under his leadership, the Forum has been a driver for reconciliation efforts in different parts of the world, acting as a catalyst of numerous collaborations and international initiatives. (See the history page for more information).

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Gavin Newsom has championed innovative public programs since first taking office in 1997. As a member of the San Francisco Board of Supervisors, then as mayor of San Francisco and now as Lieutenant Governor of California, Newsom has been a visionary on issues of equality, the environment, homelessness and healthcare. Policies he has initiated and implemented have been duplicated in cities across the nation.At 34, he was the youngest person elected Mayor of San Francisco in more than a century and was re-elected by more than 73 percent. Thirty-six days into his first term in 2004, he threw himself into one of the most divisive issues in U.S. politics by allowing same-sex couples to marry. During his seven-year tenure as mayor, he led San Francisco to an economic recovery by making the city a center for biotech and clean technology, while attracting and then keeping start-ups.An early technology adopter who values innovation, Newsom was ranked #1 mayor for his use of social media. He has more than 1 million Twitter followers and in 2010, he announced his run for Lt. Gov. via Twitter.He is dedicated to shifting the principles of innovation, creativity and entrepreneurship to the public sector and recently launched “The Gavin Newsom Show” on Current TV to help shape the conversation. Newsom has graced the cover of The New York Times Magazine and has been featured in Time, the New Yorker, the Economist, GQ, and Wired, among others.

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About the talk

Topic: Business

How can leaders embrace new mindsets, business models and technologies to drive social innovation and accelerate sustainable development outcomes?

· Sanjay Bhatnagar, Chief Executive Officer, WaterHealth International, USA

· Cheryl L. Dorsey, President, Echoing Green, USA

· Salah Goss, Head, Mastercard Labs for Financial Inclusion, Mastercard, Kenya

· Precious Moloi-Motsepe, Deputy Chairman and Chief Executive Officer, Motsepe Foundation, South Africa

· Geoff Mulgan, Chief Executive, Nesta, United Kingdom

Chaired by

· Raj Kumar, President and Editor-in-Chief, Devex, USA

Opening Remarks by

· Klaus Schwab, Founder and Executive Chairman, World Economic Forum

Remarks by

· Gavin Newsom, Governor of California, USA

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Good morning. Gavin Newsom excellency's distinguished guests dear friends members of the world economic forum It's a great pleasure. To welcome you all at this world economic Forum sustainable development. Impact Summit here in New York. This is such a powerful strain of a development impact Summit. We really want to come over 850 participants across 40 different workshops things and for play all focused on how to drive impact on the most challenging problems facing us an hour ago today. I would publicly acknowledge our outstanding

cultures for agreeing to take this whole. Thank you. Which assumption Commander 2020 is the 50th anniversary of the world economic Forum see International Organization for public private Corporation? I'm polished as we approach our anniversary. Secretary-general Antonio guterres Deputy secretary-general Amina Mohammed my colleague president of yoga Brenda and I signed last June a strategic partnership framework agreement with the United Nations. I said call Zapata soft United Nations supposed to create trust you placed enough

at your apartment. This important agreement cement sir, lord of the world economic Forum spot platforms and events. Add Rich Roll we can play we together to promote multi-stakeholder engagement. What we need just a sense of urgency as it has been expressed in the movie, but we need also direction does a real nose and a to partnership spirit. This is why we all have to give full support to the secretary channel for his efforts to push for Action Coalition at is climate action

Summit. I do like it. So then since we got our own platforms have helped company and government leaders. Who launched several significant new collaborations for climate action across major industries, like shipping Aviation steel cement and chemicals. I'd also said new collaborations unsustainable and food and biodiversity are gaining momentum. and sweats new efforts with the financial sector will help promote long-term financial decisions to future-proof

Investments infect organizations who represent 25 trillions of assets under management has been a tactic to support circulation for climate-resilient investment with superwoman partnership with UK government has helped to develop Isis is being launched at the UN climate Summit today. Tomorrow we will get an exclusive Street. Out by the UN special iny for foster climate change Summit. What's TDW Chief? What are the next steps on how we still can support the next steps and next actions. We will also have special briefings tomorrow and related issues by Sir

President of Chile. And Sir president of Colombia president to Columbia has been hosting as you know, meetings among the leaders of see Amazon basin related to deforestation, which tomorrow I'm delighted to say he was discussed with us. Seafood since its beginning 50 years ago has been an agent for stakeholder qualification. Yo some Christmas leave the house at 6 meeting will be working with experts on how to develop common reporting for envelopes for large companies. Do Metro sell activities across all environment

social and governance Marshalls and notches on shareholders happy to be putting to stay cold the flame book interaction. and bake it I'm also delighted that the bougie stakeholder collaboration with his Royal Highness. The Prince of Wales is expanding the impression of search sustainable business model into satrap. Off sustainable markets around. You will also hear Joyce's meeting more about initiative. You know somewhere else we are seeing exciting questions to harmless technology for the benefit of

society. Your phone has been since your last two years a network of false Industrial Revolution centers around SeaWorld to how much you Technologies for the benefit of society and Mankind at the summit. We will see Solange of our latest for IRS. We call it for the celebration appreciate Center on Ocean's Global Center of Excellence, which would be hosted in Norway. We strong support from industry government science and NGO champions. Globalization societal change and technological progress report new

Focus to existing inequalities in our society as well as keeping rise to new societal concerns yetzer has never been a better time to mobilize technology and human capability to address these challenges quality education future reading skills and work as the basis of prosperity and dignity for individuals and forms the backbone of successful economies. sir program support leaders in creating company level change industry collaborations and public-private collaboration at the national level to create

new investment into human capital development and deployment voice Emperor Morris and 20 County accelerators will be established around the world by the end of the year to close skill gaps. Job creation Innovation and integrate women into the economy. I'm also pleased to say that the Susie Schwab foundation for social entrepreneurship we see and do it just in the moment is their fault the leading social innovators working as individuals within business government and Civil Society

exploring new approaches can cayenne pepper Stevens business models and more inclusive societies. Social entrepreneurship has to penetrate our whole societies. I'm want to throw your particular attention to another initiative which we will take actually on Wednesday. We will announce Uplink. This is a matron you collaboration results harmless forms its first Deloitte & Microsoft LinkedIn app link will be your invited Port Isabel be a global drought collaboration teachers platform.

For action on stts3 Lane able generation set of young Millennials startups and everybody else, council road to engage. Activist decision-makers about your ideas and decorations for delivering to Global goes we sapling we seek to turn worry and frustration which Racine I was just creep into engagement and optimism, we will be launching AppLink officially with the deputy secretary-general of the United Nations on Wednesday. You're going to hear more about all these initiatives and coalitions and many more. For example of Lighthouse portraits

you will hear about those over the next 2 days. latest on Trenton man I would like to sing to see the new mobile business finance civil society and government leaders were shown the courage and confidence to get divorced. I would also like to get involved and Ty so so many folder activities forward so to conclude that $2 me. We called this meeting a summit but not for Branding Lee coming from Switzerland. I know by experience house today near city is to climb

4000 Summit and how great we want to create some satisfaction. So clear that refunds are to Summit which means we want to conquer as many Peaks as possible. Diagnosis is also suspect sure which of Dominique Walker and Terry Toyota who actually have two responsibilities for sustainability Summit control. But 48th and Rock Shop. Governments un and international organizations business or Civil Society alone cannot improve State forms helped by sea integrating

aggregating and accelerating collaboration mechanisms for impactful a compilation. At the moment in time red weirdest getting paralyzed with fear and overcome with frustration by Sushi of complexity as we have seen in the movie of the challenges we face I would suggest to you. So to sum of also stakeholder efforts at The Summit in particular represents focused effort to build a match by the sphere of trust in our world today. What's about so much needs. I thank you for your engagement. I did just now my great pleasure to

invite so hung up on you with some sort of California on stage to provide us with his remarks on Kavanaugh. I think it's very significant if so, do you open? Meeting because we know OSHA pioneering all over California ice playing and you personally have played and we are honored to have you here as a friend to go to the economy Forum since many many years have enough capacity. Thank you. Plus I'm done. Thank you all for being out here. And so they look forward to what comes out of this site. Two-day Summit. I come from the

largest and most diverse state in the world's most diverse democracy and buy a large were living together and advancing together and increasingly prospering together across every conceivable and imaginable difference 27% of our state is foreign-born. We brought in a hundred fifteen thousand refugees in the last 12 years of majority-minority state. It is a remarkable scale of accomplishment that it's state is large and diverse is California is doing as well as California contrasted record deficits here in the United States,

California is enjoying record surpluses. Paid off a hundred percent of the debt We inherited from previous administration 9 billion dollars worth paying down on long-term pension obligations and enjoyed a 3.8% GDP growth on average over the last five years significantly outperforming the rest of the country. I sale that not to impress you but to impress upon you we did all that at the same time. We radically changed the way we produced and consumed energy California is going through at scale 1 of the great decarbonization efforts that has ever

gone on in the world California has the most audacious climate goals of Any Nation let alone state in the country. It's scale fully functioning cap-and-trade program committed to environmental justice to take care of urban poor rural communities or elderly half of our proceeds and carbon carbon program go to disadvantaged communities. We have a hundred percent renewable goals. We've reached every Milestone we've set out ahead of those dates and we continue to lead the nation in tailpipe

emission reductions and fuel-efficiency standards. We are also the most unknown Trump state. in America I say that. I know class doesn't want me to be particularly partisan have to be careful. But I say all that recognizing the headwinds coming out of Washington DC. Those headwinds aren't just coming West they're global. Tickly on the issue of sustainability and that's a mindset. We deeply and Brace we have years ago decided with intentionality to move away from situational values to sustainable values move away from short-term ISM and start

investing in the future because we all know if you don't invest in the future you're not going to do very well there. We are trying to future-proof California and resiliency is front and center in that endeavor and that resiliency starts not only with advancing goals. It's the application of those Gauls is the manifestation of our ideals. So fundamentally, California is in as we say the house business and I say that again as a point of Pride and a point of privilege being here this morning with you, but also as a framework of reference, if you don't like

the way the world looks when you're standing up, Stand on your head and go local because remarkable things are happening all across the United States of America at the local level. And at the end of the day localism is determinate if States can't sell down Visions. Those Visions are only realized at the local level bottom-up regions Rising together. And so it's in that Spirit as I come here. Is it they say the Californian the birthplace of the United Nations? A state that practice is pluralism.

They state that every single day is not tolerating its diversity but tries to celebrate its diversity and unite around and I was Bill Clinton love to say all are interesting differences. But also you're not around our common Humanity the things that bind us together that I thank you plus I think you the world economic forum for your faith and Devotion to the cause of global stewardship for your recognition that there's no leak on your side of our boat. That we truly rise and fall together and that none

of us are immune to the vagaries of life. And that's why our job is to allow people to be fully expressive and to do more to encourage the best of ourselves. Thank you all for being here and thank you for your leadership. Morning morning. I just want to Mark the moment that were in. Is it September 2019 I want to bring you back just four years September 2015 when the sustainable development goals were being ratified. It was not at all clear at that time that the world would adopt that major

corporations major institution. The governments would really take these goals seriously and I thought of that this morning when I was getting my badge here at the world economic Forum at the storm's Summit on the topic of the STDs and there was a big bowl of these STD pins, right? As you register. We have changed to the point where people who are in the space and in sectors of all kind of know what these goals are and care about them. And here we are in September 2019 at the opening plenary of a 4 meeting and it's not a group of CEOs or heads of state opening this Flannery. It is for the first

time that group of social innovator. And I think it marks the moment that were in please. I was moderating a session like this in 2015. And one of the panels is Bill Gates and he got a question the question that we all still get today from journalist the room who said I understand it to achieve sustainable development goals will cost trillions of dollars the estimates range but several trillion dollars per year isn't this really impossible? The money doesn't exist to do this and his answer was what about Innovation? And I think what

you're going to hear this morning and this is followed by an exciting ceremony that will further cement this idea for all of us is it there are real Innovations happening today that are achieving a kind of scale that can actually address the climate and inequality challenges. The world is facing today. None of this will be easy but there are real opportunities. So we want to begin by getting into the discussion with some of the social and what they're actually working out so you can get inspired by their incredible opportunity that that's before us. I want to introduce solid ghost. Who is

the head of mastercard's labs? For financial inclusion and tell that I want to start with you because you work in government. You work at the Bill and Melinda Gates Foundation you working development and now you're the major Global Corporation MasterCard and yet you're a social innovator explain to us why that is why you landed there? And what is the big opportunity around Financial inclusion? Good morning everyone. It's nice to be here. I think that's a great and hard question to start the panel, but I think irrelevant one and I think you can find people who are up to change and committed to

innovation in any space. And so we were talking about this in our fellowship in the rain The Weeknd it's just a matter of a tool kit. And so the way I see it is we're all up to the same thing and we have a lot of the same goals. And if you look at the seven STG 17 sdgs, there's a lot to accomplish and so the way that I think about financial inclusion, which is what I'm focused on at MasterCard is just another tool to actually accomplish the audacious change that needs to happen it. So I think if we look at it like that it's kind of a cross-cutting imperative that we Can't ignore that we

need all sectors we can't do it alone. And so I think if you have people standing for the belief in being able to achieve these paradigm-shifting problems in all facets of the ecosystem, I think that's what's necessary. I think that's why we how we look at it at MasterCard. What is our role in actually helping achieve these goals just would we use the word paradigm shift and I want to underline that for all of you. I just written a book called The Business of changing the world and the argument on a key in that book. Is that while he's been social entrepreneur is for a

long time. There's been a way of doing develop an egg that's been modern and use technology for a long time. We're actually at an inflection moment and things are changing in the dramatic way. And if you look at the deceased social Enterprises of the past that we may have thought of them as nice as small-scale, but there are now some that are achieving a scale that is very hard to even even describe and I thought maybe to underline that sell it for all of us here from Nairobi your base in Nairobi Now in can What's 97% of households that are using some kind of financial other connected

financially to a mobile device? Tell us how big this opportunity actually is if we get this right? I'm from Chicago to Nairobi Now. So even though the sound big terms of mobile money, which is popular in some African countries. I think we have to unlock more. So just to be clear that these different mobile interfaces give people access to financial inclusion. You can't reach her bank however cash still dominates. So I think there is some cross-cutting things that we can do to really cash it on the opportunity one identification. You have to be able to identify

yourself to get access to services and that's still a big barrier and I think the infrastructure to deliver at the community level is missing as well and pace is a great example there hundreds of thousands of Agents of cross Kenya, but even in rural areas, not so much though. So I think we saw it infrastructure problem and We still have an identification problem to unlock the scale, but the scale is potentially huge if you think about how many people actually have more access to a mobile phone, but also keep in mind that 320 million. I believe it is less women have access to a phone than

men. So all those Technologies a great enabler and we are at the point where I can be amplifying. I think there's still some inequalities that we have to think about when we think about access to actually capture the opportunity that right Lisa you say rightly so is so huge songs about the girl you're the CEO of water Health International water is another similar example here access is critical. It's not a new issue. We've been talking about water and some it's like he's for many many years and I think the statistics are in many of the countries in sub-Saharan Africa and in South Asia,

maybe a third to a half of the water points that have been installed just don't work anymore that haven't been maintained you better radical view of it how to bring clean water to people. What is that view? How are you shifting this dynamic? But we've been in this space for over 10 years and the view that we took was that nobody wants to wake up in the morning and purified water or travel a long distance to get it and as a result over a billion people like say 4 or so, how do we change that narrative and we decided to change that by building a platform that would provide services to

water purification plants that will allow them to scale be profitable and provide very affordable service and we have done that today is later. We have beautiful last year Prince has over 2 billion liters of water if I were a thousand planets that are currently in operations and we have close to 1,500 people servicing services this model and the amazing thing is that we can actually take that today. Take that model today and it gets killed at up so that nobody in this world need to be deprived us access to Safe Water. It's doable within a

year so we can do this by focusing on the things that we have missed for a very long time because we know how to purify water. It's the business model that needed to change and that's what we working on. In fact, we've got an audience hear of leaders across sectors many and business. What should you have for them? It might sound like well, this is a nice organization that you're running Sanjay and you're doing some exciting things. Why is this idea of a new business model a new mindset? So relevant to everyone in the room today? I think the main main thing to

focus on is the impact of not having access to say for it. If you think about our daily lives and the lives of people around us if they don't like to see Fall River kids don't have access to safe for his lack of development future opportunity over 50% of hospital beds are occupied by people sick because of waterborne disease. We have an ability to change all of that. We have an ability to change that not only because of the work that we are doing but to some of the ideas that we've been pushing now for over a decade and if we all would focus on just this piece, I

think you have a great following impact on half-a-dozen problems the sdgs that we are all trying to solve. I think that's why we need to focus on water. Cheryl Dorsey, you're the president of echoing green. You've got this enviable job where you get to stew meat and spend time with some of the world's great social innovators and fun them and support them when you when you see what's happening out there in the world today just to go back to my opening comments at this is a real moment in time. How do you describe the moment that were in what why is this point? We should all be sitting up

and paying attention to social Innovation. Thanks Raj for moderating. Good morning. Everyone really honored to be representing the Schwab Foundation fellows here on this panel. I'm talking about the view from the movement of social Innovations. I'm going to answer that into regards first. We talked a lot about scale and social Innovation. Is it a niche concern or is it something more mainstream and I would posit the moment where social Innovation is a bona fide global social movement. It has all the characteristics that relate to an animated impulse that is unleashing citizen power

all over. World Collective action a belief that the current status quo is not working for most of us but instead of sort of the populace impulse which is to sort of blow it all up to the status quo isn't working consequences be damned social innovator actually take the full side of that coin to say we also recognize that things aren't working but we're going to try and fix it which is sort of an animated Wonder hopeful Spirit of this movement. And if you believe the demography is Destiny so much of this movement is fueled by The Passion of young people around the world, right? We

know that we've got 1.8 billion young people 200 million of those are thinking about employee ability in low and middle-income countries Innovation and Entrepreneurship is a key driver for getting them into this space. So we've got certain demographic wave coming alongside this impulse that we've got to think fundamentally differently about the way that we approach this idle problems, but my ears Stop because in college, I studied scientific revolutions this the science behind the history of Science and I'm a cutie and Thomas Kuhn who talked about the structure of scientific

revolutions how they happen and it's about these Paradigm shifts and I would say I can't reach you can't wait to read your book, but I would also say they weird and is very interesting moment where we are about to tip from moving away from the current way. We think about business to a new way. We were thinking about triple bottom line responses. So I agree that I think we're in this Tara dematic moment and I think there's a lot of opportunity if we tend to it in the way that we need to with enabling ecosystem building and other inputs that make this movement So Glorious and so

exciting underline something you said. This is a constructive movement, right? What is a sense of hopelessness out there in the world today? We see people who are saying can we really get through the challenges facing humanity? And this is a moving to says But there are potential Solutions many of them at a local level. And I don't think it's incidental that this is happening at the time of the fourth Industrial Revolution when there are new technologies, there's new science or new new approaches on that point. I want to bring Jeff Morgan into the discussion. Jeff is with us from Nest at

the National Endowment for Science and Technology in the UK. Where would you lead and I wonder if you could bring into this discussion the role of technology in this moment of social Innovation when Well, I'm here as part of the public sector former governor of California. I'm from the government and I'm here to help in all Fields crushing creativity challenges and I think they recognized if you only innovate in hologram technology also innovate in things like Youth Employment

Society gets pretty unhappy. That's the positive story. But I want to focus on a challenge which I think we will face and becomes very apparent that you took to the innovators working on sdgs around the outside whether it's sanitation and water or a human rights and what's really striking the very creative, but it's very hot. How to get Old Reliable evidence would actually what what does the the world will end very hard for them to get to understand the

other innovators working very similar things around the world and there's a very simple reason for that and that is that is no one quits job to provide this we have amazing orchestration of dates for North Bay companies in this room has nothing comparable to the sdgs. We have very powerful institutions around money. Thanks World Bank IMF, and so I'm but nothing comfortable around collective intelligence orchestrating the world's collective learning is

kind of the plumbing which long has one layer below through the Great Gatherings and comfort system convening and it is a cool to massively enable by technology. It can be done much more easily than it could be five. 10 years ago, but that's the missing multiplies to turn all that energy and commitment into really impactful me a piece of that plumbing in that infrastructure just to tease all of you for what's about to come is an announcement by the Schwab Foundation about some changes that they are making now that I think will directly address some of what you're

describing her. Another part of that funding is sitting here to my left and your precious who is a foundation partner of the Schwab foundation and your funding social Innovation around the world how you come at this from many hats as a business person is a medical doctor is someone who works on social issues around the world and in your home country of South Africa. Why did you choose all the things your foundation could focus on and fund why at this moment have you chosen social innovators? Good morning everyone and thank you Lord for your question. Let me just say

as a family tonight Patrice. We joined the giving pledge into 215 and the reason for that was to make a difference in the world. We wanted to be part of making a difference in the world refund private company commercial companies as well as social Enterprises with a view of achieving our objective of a poverty alleviation in the world very much aligned with the sustainable development goals, and we know that although we have made a substances for your commitment to these as our resources are verified night, and that is small compared to what governments and

actually have so we have sought to find number one collaboration since Technology Innovation solutions. That would ensure that not only do we address Sdgs in separation, but we can integrate and solve most of the problems that says that the world is focusing on and I'll give you three examples of how we do this. The first one is the social internship program which was started by Hilda Schwab very proud to be associated with this program and profit your part of this is really phenomenal we get to work with people like some of the awardees that you made today. It's really phenomenal rate

incredible. They've always thought solving business problems using a social motive wedding this little heart of a social and interpret applying human Centric solutions for making sure that sell their businesses are sustainable. So it's it's it's incredible living with this program for four years, and it's one of my favorite ones. Steak and cheese. We've also invested in the new breakthrough energy Ventures fund which is a collective of of investors, but have that look at Innovation

that end in technology that will ensure that we use energy and and come up with a renewable forms of energy that you will and you know, it's up try the world particularly looking at places like Africa. Where is you think about it more than 600 million people on the continent of Africa have no access to Reliable affordable and you know the newer type of energy so investment in businesses that will solve this problem and this is long-term patient Capital that can afford to invest in these

Innovations in these small businesses that will eventually help us to solve problems around energy. An impact on things like education poverty on Health on women and gender equality. So it goes beyond just solving the one area or the one is Peaches. So that's why we have invested in Social Innovation looking for those opportunities to unlock broader change just like Sanjay describe water can be some of that unlocks brought her change even be on the water sector itself. I think of an example when we think of that technology that there is now an Uber for

tractors in sub-Saharan Africa right over the technology many of us use and we're familiar with it turns out in other markets the challenge quite different where there are still many millions of farmers who spent 40 days to prepare a field for planting with the tractor takes 8 hours. So we took a business model an innovator took a business model from the west and brought it to another population for another purpose and it's making profound change and I wonder on that point as we think about people here working across sectors. What are some of these new New ways of thinking that we want

to impress upon them Cheryl or Sunday or anyone here on the panel. What were some of the new models that that really have applicability that all of us should be aware of one of the things I would mention is if we have we have an audience a global audience here at one of the first things I'd like to say is that the social Enterprises of today are different from the ones that we've seen in the last decade perhaps we look similar to some of the companies in at the last companies how I'll I'll break it down. We have profitable business models be

a scalable of use the best Technologies. We we have committed people. In fact any one of these companies here would die to have people the same degree of commitment and drive that that we have an organization's. What are you trying to solve some significant problems and we need some help. From the people in this room. I think if you combine some of the ideas that we bring to the table with the resources and operations operational Netflix of the last companies. I think we will see a significant change

in and I in fact I would urge if all the Business Leaders The watching this or in this room, if you can take over the next 30 days just two or three of the business models that the foundation has already vetted already identified. Just listen to them. You don't have to make any commitments. Just listen to what they have to say and see if you'd like something that I find something interesting help them scared up and I think it's going to become much like 2000-2001 when the internet was just starting right there was a brick-and-mortar

companies and it was the internet we have social innovators and ideas and models and we have the Enterprise's and we're both. Going together towards each other. And and this is that this is the moment in time that I think if we were to take just a little bit extra effort. We will come to a point where we are today, but brick-and-mortar companies have an internet strategy rent in the strategies have a brick-and-mortar strategy. I think I think that's the that's the moment that we need to take advantage of a remind me that years ago for McKenzie. I

will I did a paper and wanted to see are there any billion dollar social Enterprises in a billion dollars in the world of business isn't isn't quite that big and so there must have been some that have scaled. I can only find one in the world, which is a Dairy Cooperative in India and many of the big brand name social Enterprises. We know really have not been able to get to the level of skill that were very few stewing in the world of business to a big opportunity today is to get business to become social Enterprises to bring the social Innovation within the corporate sector other thoughts

about this shift in mind. Define scale in terms of sort of the spread of social entrepreneurship and I think we have to talk and think a lot about the what The Who and the how of social entrepreneurship one of the things that is so impressive to me is how social entrepreneurship is opening the door for new voices. Again, we talked about women people of color approximate leaders who were closest not only to the issues and Community but also closest to the solution Because of Winn-Dixie. And I love that you mention to heal Oliver on the founder of hello

tractor the Uber for tractors a terrific on business model and it is interesting that these social innovators identifying new business model identifying new customer segments. And that's where the frontier work that it is very hard for more traditional larger business to do this last mile capability. The social innovators are uniquely suited to do but again, it comes back to this question of the enabling ecosystem. How do we support them? So more start to get to scale and we've had the great privilege to work for the last couple of years with the tpg. It's fun. When you look at

the rise from which is against seeking to invest large sizes in business is like Sanjay helping them get to scale but they're also understanding and recognizing the importance of that very early-stage pipeline. I'm in with us. They have structured in Deal. They've carved out part of the fun to do very early-stage follow an equity investment in early State ocean lot more to meet their social impact and financial impact criteria. And that sort of that's a tough push for fun like ride, which is not used to the risk profile and many of the businesses that we see in the early stage of the social

Innovation category, but I think we're going to have to act differently and sort of assess risk differently. If we're going to start to get to the point where more of these businesses can get into the pipeline and begin to start the scale. So I guess I'm just a dead from the perspective of a big companies. That's what the realization that we can't do it alone nor should we so there's things that companies can do those things that entrepreneurs can do and Cheryl said closer and more proximate. I think we're all kind of boiled down to look at the STDs in the difficulty is last mile or maybe

even first mile Community level delivery and I think that partnership model that allows all the partners if weather is public-private partnership or big companies working with smaller companies to bring their best assets to Bears. The one that we should be investing in and I think it relies on the fact that we have different capabilities and I think that's a good thing. And when you have specialization, I would even argue Innovation speeds up people can focus on with their good on and then what we hope happens is real problems get solved with real solutions. I think that's what's going to

make the difference in that expertise you have because of proximity that has a highway to jump on from a bigger company to read the Amplified what that what you know what the impact can be and I think together we think about Partnerships that way then that kind of how we start moving the needle It's a great point in the first smile. When you think about it. When you add it up and you look across the world. The first mile is billions of people throughout these numbers in in panels like this a billion people that have access to Safe Water a billion people and if you look across the issues on

health and education all the numbers all the metrics are in the hundreds of millions were in an era. Where were talking very casually about space travel and we talked about Ai and many exciting opportunities in an abundant world and yet we still have 10% of the people in the world who are living in extreme poverty the most extreme metric which is a daily consumption of less than a dollar ninety a day. So these challenges are are very real. They're very extreme. But yet the tools are there now in a way they haven't always been to maybe unlock them Jeff. Do you have any final thoughts on

this is what and what should people in this room take with them spread sideways rather than scaling and you mentioned Barring calls tractors houses time food summer run by some business models for local news. This is something which really mastered in many places local news Services have been decimated. So this is such a fine Community energy commitment with technology platforms provide people reliable news in the US or anywhere else, but this is going to be a very important place for the fight against fake news

life. And finally, I was really interested back then by companies for things were getting much more systematic commissioning of Ira for education or helpful to help farmers on the initiative. We don't be Google on Friday, which is using AI to help the world cuz mode The risk of losing Automation in the next 10 years. How do we move our technology to help them? So that creativity of a technology the business models, but who said the social forms which make these actually slept

people's needs and if you think about the goals that you just described those aren't very commonly understood his government goals. What's different is your now looking at ways to collaborate with private-sector and new technology to the new models to actually achieve those goals dentist appointment. But if you look in any country the sdge the current trajectory we have to accelerate from the current trajectory to where we need to get to I'm pretty much on every topic. It will be some combination of talk to the government for the villages and some

creativity. We have to have all the answers again. Close out the session for what you think people in this room who come across from from government and from the nonprofit sector and business and so many other elements of our society. Why should social Innovation matter to them? Why do we all need to be social innovators at some level? Well, I'm I think like you said in the beginning of next year we Mark the 10-year Milestone to us the achievement of the sdgs and we also live in very

interesting times that we can achieve those goals. What we need to do is to work with each have a collaborator across multiple platforms. We need to be using the fourth Industrial Revolution and innovation technology and Innovation to try and speed up and explanation no justice but explanation Lee to reach those goals. I think it's important that business sees itself as an important stakeholder in our journey to Wasatch even these effigies. Yeah, the word Innovation is a nice word is an optimistic

word. Maybe the other side of that coin is disruption and there is real disruption in the world today were very used to seeing that across our Industries in the energy sector the automotive sector the news industry where I come from you see disruption everywhere disruption is coming to the social sector that were not able to do the work that we need to do to achieve the goal will be to achieve the old way there has to be a new way to do them. So I hope you take from the session today if that opportunity is before us and it's for all of us and we are very delighted now because we're

moving into a section of the of the bed this morning and then where we will have a award ceremony. I understand. We have a video to play before I introduce the next speaker. Please join me before we do that in thinking this fabulous panel.

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