How to make a profit while making a difference | Audrey Choi

Prevodilac: Sonja Cuturilo Lektor: Ivana Krivokuća

I believe big institutions

Verujem da velike institucije

have unique potential to create change,

imaju jedinstvenu mogućnost da dovedu do promene,

and I believe that we as individuals

i verujem da mi kao pojedinci

have unique power

imamo jedinstvenu moć

to influence the direction that those institutions take.

da utičemo na pravac koji te institucije biraju.

Now, these beliefs did not come naturally to me,

Ova uverenja nisu mi bila prirodna

because trusting big institutions,

jer verovanje velikim institucijama

not really part of my family legacy.

nije baš deo mog porodičnog nasleđa.

My mother escaped North Korea

Moja majka je pobegla iz Severne Koreje

when she was 10 years old.

kada je imala 10 godina.

To do so, she had to elude every big institution in her life:

Da bi to uradila, morala je da izbegne svaku veliku instituciju u svom životu:

repressive governments, occupying armies

represivnu vladu, okupacionu vojsku,

and even armed border patrols.

čak i naoružanu graničnu kontrolu.

Later, when she decided she wanted to emigrate to the United States,

Kasnije, kada je odlučila da želi da emigrira u SAD,

she had to defy an entire culture

morala je da se suprostavi čitavoj kulturi

that said the girls would never be the best and brightest.

koja kaže da devojčice nikada neće biti najbolje i najpametnije.

Only because her name happens to sound like a boy's

Samo zato što njeno ime zvuči kao dečačko

was she able to finagle her way into the government immigration exam

mogla je da izdejstvuje svoj put na vladin imigracioni ispit

to come to the United States.

da dođe u Sjedinjene Države.

Because of her bravery and passion,

Zbog njene hrabrosti i strasti,

I've had all the opportunities that she never did,

imala sam sve mogućnosti koje ona nikada nije,

and that has made my story so different.

i zbog toga je moja priča tako drugačija.

Instead of running away from big institutions,

Umesto da bežim od velikih institucija,

I've actually run toward them.

zapravo sam trčala ka njima.

I've had the chance over the course of my career

Imala sam priliku da tokom svoje karijere

to work for The Wall Street Journal,

radim za Vol Strit Žurnal,

the White House

Belu kuću,

and now one of the largest financial institutions in the world,

a sada jednu od najvećih finansijskih institucija na svetu,

where I lead sustainable investing.

gde rukovodim održivim ulaganjem.

Now, these institutions are like tankers,

Ove institucije su kao tankeri,

and working inside of them,

i radeći u njihovom okviru,

I've come to appreciate what large wakes they can leave,

počela sam da cenim koliko velike tragove mogu da ostave,

and I've become convinced

i postala sam ubeđena

that the institution of the global capital markets,

da institucija globalnog tržišta kapitala,

the nearly 290 trillion dollars of stocks and bonds in the world,

skoro 290 biliona dolara akcija i obveznica u svetu,

that that may be one of our most powerful forces

da to može biti jedna od naših najmoćnijih sila

for positive social change at our disposal,

za pozitivne društvene promene kojima raspolažemo,

if we ask it to be.

ukoliko to tražimo.

Now, I know some of you are thinking,

Znam da neki od vas misle:

global capital markets, positive social change,

globalno tržište kapitala, pozitivne društvene promene,

not usually in the same sentence or even the same paragraph.

nije obično u istoj rečenici, čak ni u istom pasusu.

I think many people think of the capital markets

Mislim da mnogi ljudi misle o kapitalnim tržištima

kind of like an ocean.

kao o okeanu.

It's a vast, impersonal, uncaring force of nature

To je ogromna, bezlična, nemarna sila prirode

that is not affected by our wishes or desires.

na koju ne utiču naše želje ili čežnje.

So the best that our little savings accounts

Dakle, najbolje što naši mali štedni računi

or retirement accounts can do

ili penzioni računi mogu da urade

is to try to catch some waves in the good cycles

je da pokušaju da uhvate neki talas u dobrim periodima

and hope that we don't get inundated in the turbulent ones,

i nadamo se da ne budemo potopljeni u onim turbulentnim,

but certainly our decisions on how to steer our little retirement accounts

ali sigurno naše odluke o upravljanju našim malim računima

don't affect the tides,

ne utiču na talase,

don't change the shape or size or direction of the waves.

ne menjaju oblik, veličinu ili pravac talasa.

But why is that?

Međutim, zašto je tako?

Because actually, one third of this ocean of capital

Jer, zapravo, jedna trećina ovog okeana kapitala

actually belongs to individuals like us,

u stvari pripada pojedincima kao što smo mi,

and most of the rest of the capital markets

i većina ostalih kapitalnih tržišta

kontrolišu institucije koje dobijaju svoju moć, autoritet

is controlled by the institutions that get their power and authority

and their capital from us,

i kapital od nas,

as members, participants, beneficiaries, shareholders or citizens.

kao članova, učesnika, korisnika, akcionara ili građana.

So if we are the ultimate owners of the capital markets,

Dakle, ako smo mi konačni vlasnici tržišta kapitala,

why aren't we able to make our voices heard?

zašto se naš glas ne čuje?

Why can't we make some waves?

Zašto mi ne napravimo malo talasa?

So let me ask you a different question:

Dozvolite da vam postavim drugo pitanje:

did any of you buy fair trade coffee

da li je neko od vas kupio kafu po poštenoj ceni

the last time you were at a supermarket or at Starbucks?

poslednji put kada ste bili u supermarketu ili u Starbaksu?

OK. Do any of you go to the restaurant

U redu. Da li iko od vas ide u restoran

and order the sustainably farmed trout

i naručuje pastrmku iz održivog uzgoja

instead of the miso-glazed Chilean sea bass

umeso čileanskog brancina sa miso glazurom

that you really wish you could have?

kojeg ste zaista želeli da pojedete?

Do any of you drive hybrid cars or even electric cars?

Da li neko od vas vozi hibridni ili električni automobil?

So why do we do these things?

Dakle, zašto radimo ove stvari?

Right? One electric car doesn't amount to much in a fleet of 1.2 billion

Jedan električni auto ne predstavlja mnogo

u gomili od 1,2 milijarde vozila sa motorom na sagorevanje.

combustion engine vehicles.

One fish is just one fish in the sea.

Jedna riba je samo jedna riba u moru.

And one cup of coffee

I jedna šolja kafe

doesn't amount to a hill of beans in this crazy world.

je od vrlo malog značaja u ovom ludom svetu.

But we do these things because we believe they matter,

Ipak, mi radimo te stvari jer verujemo da je važno,

that our actions add up,

da naši postupci imaju smisla,

that our choices might influence others

da naši izbori možda utiču na druge,

i, zajednički, ko zna koliki uticaj možemo imati.

and collectively, what an impact we can have.

So, in my bag I have a coffee mug that I bought a couple of years ago.

Tako, u mojoj torbi imam šolju za kafu koju sam kupila pre par godina.

It's a reusable mug. It has all these things printed on it.

To je šolja za višekratnu upotrebu. Ima svašta štampano na sebi.

Look at some of the things that are on it, that it says.

Pogledajte neke od stvari koje su na njoj, šta piše.

"This one cup can be used again and again."

„Ova jedna šolja može da se koristi iznova i iznova.“

"This one cup may inspire others to use one too."

„Ova šolja može da inspiriše druge da takođe koriste jednu takvu.“

"This one cup helps save the planet."

„Ova šolja pomaže da se spasi planeta.“

I had no idea this plastic cup was so powerful.

Nisam imala pojma da je ova plastična šolja tako moćna.

(Laughter)

(Smeh)

So why do we think that our choice

Dakle, zašto mislimo da je naš izbor

of a four dollar shade-grown fair trade artisanal cup of coffee

šolje kafe od četiri dolara, poštene trgovine, zanatske proizvodnje

in a reusable mug matters,

u višekratnoj posudi važan,

but what we do with 4,000 dollars in our investment account

ali šta radimo sa 4 000 dolara na investicionom računu

for our IRA doesn't?

za naš penzioni plan nije važno?

Why can't we tell the supermarket and the capital markets

Zašto ne možemo da kažemo supermarketima i tržištu kapitala

that we care,

da nam je stalo,

that we care about fair labor standards,

da nam je stalo do fer radnih standarda,

that we care about sustainable production methods

da nam je stalo do održivih metoda proizvodnje

and about healthy communities?

i do zdravih zajednica?

Why aren't we voting with our investment dollars,

Zašto ne glasamo dolarima koje ulažemo,

but we would vote with our lattes?

a glasali bismo našim kafama?

So I think it has something to do with the myths,

Tako da mislim da to ima veze sa našim mitovima,

the fables that we all carry around in our collective consciousness.

sa bajkama koje svi nosimo u našoj kolektivnoj svesti.

Da li se sećate Grimove bajke o magičnom loncu kaše?

Do you remember the Grimm's fairy tale about the magic porridge pot?

If you said to the pot, "Boil, little pot, boil,"

Ako biste rekli loncu: „Kuvaj, lončiću, kuvaj“,

it would fill up with sweet porridge.

ispunio bi se slatkom kašom.

And if you said, "Stop, little pot, stop,"

Ako biste rekli: „Stani, lončiću, stani“,

it would stop.

stao bi.

But if you got the words wrong, it wouldn't listen,

Ako biste izgovorili reči pogrešno, ne bi slušao,

and things could go terribly awry.

i stvari bi pošle užasno naopako.

So I think when it comes to markets,

Tako da mislim da, kad je reč o tržištima,

we have a little bit of a similar fable in our heads.

imamo pomalo sličnu bajku u glavi.

We believe that the markets is this magic pot

Verujemo da je tržište magični lonac

that obeys only one command:

koji sluša samo jednu naredbu:

make more money.

napravi više novca.

Only those words said exactly that way

Samo te reči izgovorene tačno tako

will make the pot fill up with gold.

učiniće da se lonac napuni zlatom.

Add in some extra words like "protect the environment,"

Ako se doda još reči poput „zaštiti okolinu“,

the spell might not work.

čarolija možda neće delovati.

Put in the wrong words like "promote social justice,"

Stavljanje pogrešnih reči kao „podstakni društvenu pravdu“,

and you might see your gold coins shrink

i možda ćete videti kako vam se zlatnici smanjuju

or even vanish entirely, according to this fable.

ili čak potpuno nestanu, prema ovoj bajci.

So we asked people, what do you really think?

Tako smo pitali ljude šta zaista misle.

And we actually went out and polled a thousand individual investors,

Zapravo smo izašli i anketirali hiljadu pojedinačnih investitora,

and we found something fascinating.

i otkrili smo nešto fascinantno.

Overwhelmingly,

Velikom većinom,

people wanted to add those extra words into the formula.

ljudi su želeli da unesu te dodatne reči u formulu.

71 percent of people said yes,

71 procenat ljudi rekao je „da“,

they were interested in sustainable investing,

bili su zainteresovani za održivo ulaganje,

which we define as taking the best in class investment process

koje definišemo kao uzimanje najboljeg procesa investiranja u klasi

that you already have traditionally

koji već imate tradicionalno

and adding in the extra information you get

i dodavanje informacija koje dobijete

when you think about the environment and society and good governance.

kada mislite na okolinu, društvo i dobru vladu.

71 percent wanted that.

71 procenat je to želeo.

72 percent said that they believe that companies who did that

72 procenta je reklo da veruju da kompanije koje bi to uradile

would actually do better financially.

bi zapravo bolje stajala finansijski.

So people really do believe that you can do well by doing good.

Dakle, ljudi zaista veruju da mogu biti dobro radeći dobro.

But here was the weird thing:

Međutim, evo šta je čudno:

54 percent of the people

54 procenta ljudi

still said if they put their money in those kinds of stocks,

je ipak reklo da, ako ulože novac u takve akcije,

they thought that they would make less money.

misle da bi zaradili manje novca.

So is it true?

Dakle, da li je ovo tačno?

Do you get less sweet porridge if you invest in shade-grown coffee

Da li dobijate manje slatke kaše ako uložite u kafu uzgajanu u hladu

instead of drinking it?

umesto da je popijete?

Well, you know, the investors in companies like Burt's Bees

Pa, znate, investitori u kompanijama

poput „Bertove pčele“ ili „Ben i Džeri“ ne bi tako rekli.

or Ben & Jerry's wouldn't say so.

Right? Both of those started out as small, socially conscious companies

Zar ne? Obe su počele kao male, socijalno svesne kompanije

that ended up becoming so popular with consumers

koje su na kraju postale tako popularne kod kupaca

that the giants Unilever and Clorox bought them

da su ih giganti Juniliver i Kloroks kupili

for hundreds of millions of dollars

za stotine miliona dolara,

each.

pojedinačno.

But here's the important thing.

Evo važne stvari.

Te korporacije su shvatile da,

Those corporations realized

that if they wanted to protect the value of their investments,

ako žele da zaštite vrednost svojih investicija,

they had to preserve that socially conscious mission.

moraju da sačuvaju tu društveno svesnu misiju.

Da nisu nastavili da unose te dodatne reči

If they didn't keep adding in those extra words

o ekološkoj i društvenoj svesti,

of environmentally friendly and socially conscious,

those brands wouldn't make more money.

ti brendovi ne bi zaradili više novca.

But maybe this is just the exception the proves the rule, right?

Ipak, možda je ovo samo izuzetak koji potvrđuje pravilo, zar ne?

The serious companies that fund our economy

Ozbiljne kompanije koje finansiraju našu ekonomiju

and that fund our retirements and that really make the world go round,

i koje finansiraju naše penzije i koje zaista pokreću svet,

they need to stick to making more money.

moraju da se drže zarađivanja više novca.

So, Harvard Business School actually researched this,

Harvardska škola za biznis zapravo je istraživala ovo,

and they found something fascinating.

i otkrili su nešto fascinantno.

If you had invested a dollar 20 years ago

Da ste uložili dolar pre 20 godina

in a portfolio of companies

u portfelj kompanija

that focused narrowly on making more money

koje su se usko fokusirale na zarađivanje više novca

quarter by quarter,

kvartal za kvartalom,

that one dollar

taj jedan dolar

would have grown to 14 dollars and 46 cents.

narastao bi do 14 dolara i 46 centi.

That's not bad until you consider

To nije loše dok ne uzmete u obzir da,

that if instead you'd invested that same dollar

ako umesto ulaganja tog istog dolara

in a portfolio of companies

u portfelj kompanija

that focused on growing their business

koje su se fokusirale na razvoj svog biznisa

and on the most important environmental and social issues,

i na najvažnije ekološke i društvene probleme,

that one dollar would have grown

taj jedan dolar bi narastao

to 28 dollars and 36 cents.

do 28 dolara i 36 centi.

almost twice as much sweet porridge.

skoro duplo više slatke kaše.

Now, let's be clear, they didn't make that outperformance

Sad, budimo jasni, nisu preduzeli taj nadmoćni čin

time što su dali novac da bi izgledali kao fini korporativni građani.

by giving away money to seem like a nice corporate citizen.

They did it by focusing on the things that matter to their business,

Uradili su to fokusiranjem na stvari koje su važne njihovom biznisu,

like wasting less energy and water

poput rasipanja manje energije i vode

in their manufacturing processes;

u procesu proizvodnje;

like making sure the CEO contracts had the CEOs incentivized

pazeći da direktorski ugovori daju direktorima podsticaje

for the long-term results of the company and the communities they served,

u korist dugoročnih rezultata kompanije i zajednice kojoj služe,

not just quarterly results;

ne samo rezultata po kvartalu;

or building a first class culture

ili pravljenja prvoklasne kulture

that would have higher employee loyalty,

koja bi imala veću lojalnost zaposlenih,

retention and productivity.

retenciju i produktivnost.

Now, Harvard's not alone.

Harvard nije sam,

Oxford also did a research study where they examined 120 different studies

Oksford je takođe sproveo istraživanje gde su pregledali 120 različitih studija

looking at the effect of sustainability and economic results,

tražeći efekte održivosti i ekonomskih rezultata,

and they found time and time and time again

i iznova i iznova su nalazili

that the companies that cared about these kinds of important things

da su kompanije koje su brinule o ovakvim važnim stvarima

actually had better operational efficiency,

zapravo imale bolju operativnu efikasnost,

lower cost of capital

manji trošak kapitala

and better performance in their stock price.

i bolji učinak u pogledu cena svojih akcija.

And then there's Al Gore.

Zatim, tu je i Al Gor.

So 20 years ago, when I worked for Al Gore in the White House,

Pre 20 godina, kada sam radila za Ala Gora u Beloj kući,

he was one of the early pioneers pleading with businesses and governments

on je bio jedan od pionira koji je molio preduzeća i vladu

to pay attention to the challenges of climate change.

da obrate pažnju na izazove klimatskih promena.

Nakon Bele kuće, otvorio je firmu za investicije pod imenom Generacija,

Post-White House, he opened an investment firm called Generation,

where he baked environmental sustainability and other things

gde je uneo ekološku održivost i druge stvari

right into the core investment process.

pravo u srž procesa investiranja.

And at the time there was a good bit of skepticism about his views.

U to vreme bilo je dosta skepticizma u pogledu njegovih stavova.

Ten years later, his track record is one more proof point

Deset godina kasnije, njegov učinak je jedna u nizu stvari koje dokazuju

that sustainable investing done right can be sound investing.

da održivo ulaganje na pravi način može biti ispravno ulaganje.

Daleko od toga da je napravio manje kaše

Far from making less sweet porridge

because he added sustainability into the mix,

zato što je dodao održivost u kombinaciju,

he actually significantly outperformed the benchmark.

zapravo je značajno unapredio standard.

Now, sustainable investing,

Održivo ulaganje,

the good news is it doesn't require a magic spell

dobra vest je da ne zahteva čaroliju

and it doesn't require some investment secret,

i ne zahteva nekakve tajne ulaganja,

and it's not just for the elite.

i nije samo za elitu.

It is not just about private equity for billionaires.

Ne radi se samo o privatnom ulaganju za milijardere.

It's not just groovy-sounding investments like clean technology

To nisu samo ulaganja koja zvuče divno poput čiste tehnologije

or microfinance in emerging markets

ili mikrofinansija u novim tržištima

or artisanal bakeries in Brooklyn.

ili zanatskim pekarama u Bruklinu.

It's about stocks and bonds and Fortune 500 companies.

Radi se o akcijama i obveznicama i Fortune 500 kompanijama,

o zajedničkim fondovima,

It's about mutual funds.

It's about all the things

o svim stvarima

we already see in the market today.

koje već vidimo na tržištu danas.

So here's why I'm convinced

Dakle, evo zašto sam ubeđena

that we collectively have the power

da zajedno imamo moć

to make sustainable investing the new normal.

da učinimo održivo ulaganje novim normalnim stanjem.

First, the proof points are coming out all the time

Prvo, dokazi se stalno pojavljuju

that sustainable investing done right,

da ispravno održivo ulaganje,

preserving all the same good principles of investing,

uz očuvanje istih dobrih principa ulaganja,

the traditional sphere, can pay.

tradicionalnog delokruga, može da se isplati.

It makes sense.

To ima smisla.

Secondly,

Drugo,

the biggest obstacle standing in our way

najveća prepreka koja nam stoji na putu

may actually just be in our heads.

možda je zapravo samo u našim glavama.

We just need to let go of that myth

Samo moramo da zaboravimo na mit

that if you add your values into your investment thinking,

da, ako dodaš svoje vrednosti u svoje razmišljanje o ulaganju,

that you get less sweet porridge.

da dobijaš manje slatke kaše.

And once you get rid of the fable,

Jednom kada se rešite bajke,

zapravo možete da počnete da uvažavate one činjenice o kojima smo pričali.

you can actually start appreciating those facts we've been talking about.

And third, the future is already here.

I treće, budućnost je već ovde.

Sustainable investment today is a 20 trillion dollar market

Održivo ulaganje danas je 20 biliona dolara vredno tržište

and it's the fastest-growing segment of the investment industry.

i najbrže rastući segment industrije investiranja.

In the United States, it has grown enormously, as you can see.

U Sjedinjenim Državama, veoma se razvilo, kao što vidite.

It now represents one out of every six dollars

Danas čini jedan od šest dolara

under professional management in the United States.

profesionalnog menadžmenta u Sjedinjenim Državama.

So what are we waiting for?

Pa, šta čekamo?

For me, it goes back to the inspiration that I received from my mother.

Za mene, to podrazumeva vraćanje na inspiraciju koju sam dobila od majke.

She knew that she wanted a life

Znala je da želi život

where she would have the freedom to make her own choices

gde će imati slobodu da donosi svoje odluke,

and to have her voice heard and write her own story.

da se njen glas čuje i da piše svoju sopstvenu priču.

She was passionate about that goal

Bila je vođena strašću ka tom cilju

and she was clear that she would let no army, no obstacle,

i bilo joj je jasno da neće dozvoliti da joj vojska, prepreke

no big institution stand in her way.

i velike institucije stanu na put.

She made it to the States,

Dospela je u Sjedinjene Države,

and she became a teacher,

i postala je nastavnik,

an award-winning author

nagrađivan autor

and a mother,

i majka,

and ended up sending her daughters to Harvard.

i na kraju je poslala svoje ćerke na Harvard.

And these days, you can tell that she is amply comfortable

U poslednje vreme, može se reći da joj je prilično ugodno

holding court in the most powerful institutions in the world.

dok zaseda u najmoćnijim institucijama na svetu.

It seems almost too prophetic

Deluje skoro kao proročanstvo

that her name in Korean means

što njeno ime na koreanskom znači

"passionate clarity."

„strastvena jasnoća“.

Passionate clarity:

Strastvena jasnoća:

that's what I think we need to drive change.

to je ono što mislim da nam treba da započnemo promenu.

Passion about the change we want to see in the world,

Strastveni u vezi sa promenama koje želimo da vidimo u svetu,

and clarity that we are able to help chart the course.

i jasnoća da smo sposobni da pomognemo da se zacrta put.

We have more opportunity today than ever before

Danas imamo više mogućnosti nego ikada pre

to make choices.

da donosimo odluke.

We have more power than ever before to make our voices heard.

Imamo više moći nego ikada da učinimo da nam se glas čuje.

So change your perspective.

Dakle, promenite svoju perspektivu.

Vote with your small change.

Glasajte svojom malom promenom.

Invest in the change you want to see in the world.

Uložite u promene koje želite da vidite u svetu.

Change the fables

Promenite bajke

and change the markets.

i promenite tržište.

Thank you.

Hvala.

(Applause)

(Aplauz)