News

Opportunities in resource scarcity

While ‘big business’ and ‘environmental stewardship’ don’t often seem to go hand in hand, Sir David King, former chief scientific adviser to the UK government, is calling on businesses and the finance community to ‘take the lead’ in solving increasing food, energy and water scarcity issues.

King is co-directing Re|Source, a conference created by the University of Oxford, its Smith School of Enterprise and Environment and The Rothschild Foundation, which will highlight the business opportunities of sustainable resource management.

King said: “The growing demand for food, energy and water by our growing and increasingly wealthy population is creating unprecedented pressures on our finite natural resources.

“The associated risks represent major opportunities for innovative business communities. Managing resources efficiently and effectively in a way that protects the environment and meets rising demand is the only productive way forward.”

As the world is expected to grow from seven billion people today to nine billion by 2050, more food will be required (and more things will be purchased), which will place consequential demands on water, resources and energy. As a result, resource scarcity is rising up the agenda for environmental activists, governments, investors and businesses alike.

King continued: “Managing issues arising from resource scarcity and management is one of the over-riding issues of the first half of the 21st century. It is not just a matter of empty threats and negativity.

“There are huge advantages and opportunities for business, finance and government in responsible resource management. Companies and investors can enjoy far greater returns and rewards by effective resource management.

“This can be a win-win for everyone if we can engage the financial, business and environmental communities together to tackle these issues.”

King’s statements came as he was announcing the two-day event Re|Source will be hosting at Oxford University this July where ‘the world’s most influential thinkers’ will address questions including: How will resource scarcity and volatility affect political, business and military planning? How can the financial community change to encourage CEOs and investee companies to rise to these global resource challenges? And how will capitalism evolve in a resource-constrained world?

Confirmed speakers include: Bill Clinton, former US President; Paul Kagame, President of the Republic of Rwanda; David Nabarro, the UN’s Special Representative on Food Security and Nutrition; David Miliband; senior military figures; and representatives of big business.