Geoeconomics, the Great Reset and the conceptual framework behind it

On 20th February we had the privilege of welcoming Thierry Malleret, founder and main author of The Monthly Barometer, one of the leading global monthly newsletters that distils into a highly analytical and predictive one-pager the macro issues relevant to executives and decision-makers across the world.

Mr Malleret possesses decades of unique professional experience spanning investment banking, think tanks, academia and government including a three-year spell in the Prime Minister’s office in Paris.

Our guest speaker touched on diverse and current themes. Of particular interest was his reflexion on nature-based solutions as means of generating, not only financial but also environmental and social returns.

In order to develop the concept further, Mr Malleret quoted recent economic studies that conclude that more than half of the world’s GDP depends on nature and emphasized the fact that, leaders are starting to see nature as an asset, “put in the simplest possible terms: nature is an indispensable input to economic activity, and by overlooking its fundamental role we underestimate the risks from environmental damage to growth and human welfare”.

Policymakers and business leaders are starting to recognize nature as an asset, this can be seen in actions such as the EU making the decision to direct 30% of international aid to nature-based solutions.

The issue of inequalities also took a key role in the discussion. As Mr Malleret pointed out, “It strikes me that some professionals do very well for themselves and yet provide very little welfare for society.

On the other side, if you are a teacher and dedicate your life to building one nation’s human capital, you earn very little. It’s not comprehensible that people who contribute enormously to the social welfare and the economy make so little.”

In the midst of the complex times we are living in, Mr Malleret left us with an optimistic thought: “Should we be optimistic or pessimistic about the future? When you face an overwhelming challenge such as climate change, there is such profusion of innovation and such willingness to find solutions, that you find them”.