On June 16, Jeffrey Sachs (President of UN SDSN, Director of the Center for Sustainable Development at Columbia University), Enrico Botta (Organization for Economic Co-operation and Development) and Loukia Tzekaki (Procter & Gamble) held lectures on the fourth day of the final phase of the Siena International School on Sustainable Development

Highlights of the Lesson by Jeffrey Sachs (President of UN SDSN, Director of the Center for Sustainable Development at Columbia University)
The market can handle a variety of problems, but it cannot address the problem of the natural environment. We are currently witnessing a situation that is very similar to that of the 1970s when oil shocks and monetary instability resulted in stagflation.
Similarly, in the 1970s, economic expansion was expected to lead to resource depletion; now, the reality is even worse. The growth of the economy is causing the planetary boundaries to be breached.
Understanding and Cooperation are essential for achievement. Across Europe, many experiments on Deliberative processes have been carried out. Deliberative democracy claims that citizens should arrive at political decisions through reasoning and the collection of competing arguments and viewpoints, rather than thinking of political decisions as to the aggregate of citizens’ preferences. These processes have yielded significant results, such as the establishment of consensus.
GDP should be used to measure the size of an economy, not its growth. This measure ignores factors such as longevity, the environment, intergenerational issues, etc. It is necessary to measure specific things with adequate indicators, such as life expectancy, which provides information on the quality of life, health and food issues, the level of violence, and so on. GDP per capita should be also combined with a measure of well-being to ask about the quality of life.
“Policies for a fair green transition” with Enrico Botta (Organization for Economic Co-operation and Development)
Increased energy security and improved environmental outcomes are the double dividends of a green recovery. In addition to that, environmental policies can impact households and workers.
When it comes to households, disadvantaged social groups are more exposed and vulnerable to environmental risks, including climate change and air pollution. Low-income households are also more susceptible to an increase in energy costs. Moreover, subsidies may sometimes provide greater financial benefits to higher-income households.
Around 24 million new employment will be generated for workers as the world takes action to combat climate change. It is a matter of reallocation of workers and regional dimensions. This transformation will need higher-level jobs and competencies, which will be a skill challenge.
Sectoral and place-based policies are required for ease of doing business, housing business and green public investment. Long-term policies are also necessary for achieving a low-carbon economy.
Key points of the lecture:
- The recovery is becoming greener but there is much more to do
- Policy packages are needed for a just green transition
- Skills and place-based policies play a key role
- The importance of STEM education, transversal skills and lifelong learning
- Opportunities and challenges differ significantly across countries, in particular in developing countries.
“Beyond global corporate environmental sustainability goals: Tangible progress, unprecedented partnerships, embedding sustainability in how we do business” with Loukia Tzekaki (Procter & Gamble)
P&G’s strategy of sustainability covers different areas of the company including environmental effects, water management, and packaging and waste. Since things are changing fast, the company have already revised its goals multiple times.
P&G is in the fast-moving consumer market, so they can only manage 2% of the total impact that is covered by scopes 1 and 2, with the remaining falling within scopes 3 and beyond their control. It is important to involve consumers as their behavior accounts for 85% of a company’s effect. Small things can have a big impact. To raise consumer awareness, it is also important to partner with credible voices (e.g., National Geographic).
P&G achieved 56% GHG emission reduction primarily by switching to renewables. What they cannot reduce in the processes are compensated with projects of natural compensation such as reforestation.
The company aims to restore the water-stressed area. For instance, P&G is accelerating the transformation of houses with a lower water impact, to foresee the products of the future.
The company also focuses on promoting circularity by encouraging consumers to recycle so that their trash may be recycled into new packaging.
Keywords of the lecture: Re-think the products, technology, and a coalition of industries.