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RONALD COHEN: I'm Ronald Cohen, co-founder and leader of Apax
partners, chair of the Global steering
group for impact investment, and passionate
about the subject of impact.
We're all aware that the world cannot continue to function
in the way that it's doing.
Capitalism has lifted billions out of poverty,
but it's sole pursuit of profit it's creating now
huge negative consequences climatically and socially,
which are actually too huge even for governments to cope with.
And so you begin to look at how our system is evolving
and you realize that our system has already
started an evolution to counter these negative consequences
and it's an evolution from the economic model that
has served us so well for more than 200 years, a model based
on risk return to one based on risk return
and measurable impact.
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GEORGE SERAFEIM: My name is George Serafeim,
and I'm the Charles Sam Williams Professor
of Business Administration at Harvard Business School.
I became interested in this area and I'm
leading the impact way that accounts initiative
because all organizations are having
positive and negative environmental
and social impact, and those impacts
are becoming increasingly important
for the competitiveness of organizations around the world.
But organizations cannot manage those impacts if they cannot
measure them.
As a result, our mission is to advance the measurement
of the positive and negative impacts
that organizations are having on society and the environment.
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