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The Black-Scholes model provides an important foundation for mathematicalmodels used for pricing options. Myron Scholes won a Nobel prize for this and related work. It has always been recognised that blindly following models exposes the user to unexpectedrisks since they are often at odds with reality. For some, such modelssymbolise the absurdity of much of modern financial structuring. Nicholas Taleb’s Black Swan theoryrefers to a large impact event beyond the realm of normal expectations, andhas come to represent an event, like the credit crunch, that conventional wisdom said could not happen.A White Swan is different.

Business leader Ray Anderson asks: when you meet your Maker, what will you talk about?Will you proudly discuss your rate of return? Or how you enhanced shareholder value?What will your legacy be?The way most companies do business, most communities operate, and most of us live will leave a legacy of an environmentally and financially impoverished planet. We can, we must do better. This paper will describe how climate protection is good for business.  The market can solve the climate crisis not at a cost but as an investment in a far better future for all of the world’s people.  It will describe how this future is already emerging remarkably rapidly despite restrictions at every turn.  

Carsten Ingerslev, Head of Division, The Danish Government Centre for CSR Danish Commerce and Companies Agency, presentation at Tomorrow's Company launch event 'Beyond Accounting'.

Hunter Lovins shares with Tomorrow's Company her presentation shown at the Ecotopia event we co-hosted with Fairknowledge last week.

This piece documents a Management Today and Tomorrow's Copmany rountable discussion kindly hosted by Lovells. In it a number of leading business practicitioners and thinkers sat down to answer some of the key questions that came out of the Tomorrow's Owners - Stewardship of tomorrow's company report and it produced some rather interesting ideas for change. Here is a full list of the very high quality participants: Tim Wates, chairman, Wates Family Holdings; Will Hutton, executive vice chair, The Work Foundation; Adrian Beecroft, senior managing partner, Apax Partners; Sir John Egan, chairman, Severn Trent Water;  Colin Melvin, CEO, Hermes Equity Ownership Services; Mark Goyder, founder director, Tomorrow's Company; Rajesh Sennik, leader, private equity and corporate strategy, Accenture; Round Table chairman: Matthew Gwyther, editor, MT; Blake Lee, Harwood environmental consultant; Richard Ufland, corporate partner, Lovells;