The first is The Catalysts.io. The Catalysts is a social enterprise founded for the common good to benefit everyone and everything. It holds the intellectual property relating to the net zero and other sustainability applications of normative accounting for intangibles and normative governance. The Catalysts has been founded to rapidly drive this work to adoption at scale.
The second is The Rethinking Capital Foundation. This new company has a mission lock to bring about a just and equitable system by holding and implementing the Rethinking Capital model of system change. Further detail on the Foundation’s program will be announced in the coming weeks.
The two co-founders of the Rethinking Capital community in 2016, Andrew Watson and Robert McGarvey are delighted to announce these developments:
“We’ve become more and more confident that 2023 is the moment in time for Rethinking Capital’s ideas to be heard and applied. We’ve consistently made the case for the unique insight that there is a root cause behind today’s natural and social inequities—being upside down incentives and, by cause and effect, an upside down mindset. And created fresh, simple ideas needed to address them.
These two organisations have been set up to deliver the Rethinking Capital model of system change with different roles and approaches.
The Catalysts will be a fast moving, high impact start up that can drive the net zero, nature and sustainability applications of normative accounting for intangibles to adoption and onto the agenda at COP28. With both natural crises imminent The Catalysts’ ambition is to impact net zero and nature decision governance at scale by late 2023 and at a system level in 2024.
The Rethinking Capital Foundation is designed to be the steady hand to hold the model of system change and design the program to implement it. It will learn from and apply the history lessons of the two previous asset revolutions described in Robert’s book Futuromics to do so. It will also introduce and develop the new economic theory of normative economics and how it can be designed into policy initiatives to solve the many crises facing society today.
This is an exciting moment for us and two big steps forward in achieving our vision for the world as it should be, not how it is.”
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Rules based on yesterday’s norms are a guarantee of failure – the rules which shape our economy will only endure if they are based on social norms that will endure. This cannot be a social norm which accepts the end of life on earth.
The economy has clearly changed. Intangibles dominate the global economy but accounting practice hasn’t kept up. As a result financial statements don’t show what is actually creating value (intangible assets) or those things that could lose value (intangible liabilities, such as climate risk).
Ultimately the fact that there is a gender pay gap is the result of decisions made, no doubt by men, based on a belief that motherhood isn’t as valuable as earnings for the company. And balancing gender pay (over time) is similarly a decision, able to be made, by men, who are choosing not to make it. Call it a conscious decision not to make a decision. Now that the gender gap has been exposed, how can the decision to balance it be enabled?