Kopi time with Taimur Baig


Mikkel Larsen on climate change and the tragedy of the commons
Group Research23 Mar 2020



    This podcast can be broadly classified under sustainability, but it is important to underscore that sustainability is an exceptionally broad and all-encompassing subject. From DBS bank’s perspective, for instance, sustainability entails considering responsible banking, improving reporting of our standards and practices, encouraging responsible behaviour in the society, creating social impact, and carrying out research to extract society -relevant insights on our planetary footprint. We cannot possibly deal with all that in a half-hour session. For that, you should read our annual sustainability report, available on dbs.com/sustainability/reporting/sustainability-report

    The person who is in charge putting that excellent annual report together is Mikkel Larsen, Managing Director & Chief Sustainability Officer of DBS. He is also the co-chair of the DBS Sustainability Council and an adjunct professor corporate sustainability at Copenhagen Business School. Mikkel, on his eighth year in DBS, is a committed vegan, carbon footprint minimiser, long-distance runner, and a martial-arts maven. 

    Mikkel helps us understand one specific but important area, known as the “tragedy of the commons.” The theory originated in an essay written in 1833 by the British economist William Lloyd, who used a hypothetical example of the effects of unregulated grazing on common land in the UK. This issue is now tightly tied to climate change, as the climate is the commons, which we need to support, but despite recent progress, the worldwide system of regulation and incentives fall way below what is needed. Why is that we care, but we don’t do enough? Can we solve this through public sector solutions, or will it be the private sector that saves the day? What’s happening that is encouraging?

     
     

    Taimur Baig, Ph.D.

    Chief Economist - G3 & Asia
    taimurbaig@dbs.com



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