What will the world look like in 50 years? – Quartz

Companies that reject shareholder primacythat prioritize the needs of society, community, consumers, and employees above shareholder valueand those that fully understand the social and environmental impacts of their entire supply chain, irrespective of product or industry, will be the ones to thrive.

Companies that reject shareholder primacythat prioritize the needs of society, community, consumers, and employees above shareholder valueand those that fully understand the social and environmental impacts of their entire supply chain, irrespective of product or industry, will be the ones to thrive.

To define the characteristics of those companies: They will demonstrate emotional intelligence, flexibility, and the ability to adapt to complex, quickly-shifting conditions, work forces, and social movements. The companies that develop innovative products and services designed to protect people from climate impacts (sea-level rise, extreme heat, disaster) will prosper as well. Examples are companies that make cooling vests for outdoor workers, police officers, and firefighters; flood-response companies; design firms that build resilient structures capable of floating or adapting to rising waters; even private extraction companies like those being used by oil and gas entities to extract personnel from harmful situations like political conflicts, violence, or natural disasters.Further, companies with a majority of women on their boards and executive teams will outperform competitors and lead in their industry. In fact, I would venture that the numbers of men will flip to a women-led majority in most everything in the next 50 years.

Finally, given the increase in both the types of risk and the size of risk exposures such as hurricane, drought, extreme heat, and floods, property and casualty industry will finally transform. Along with reinsurance companies, they will offer individual policies that pay quickly based on a metric such as wind speed or sustained temperature.

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What will the world look like in 50 years? - Quartz