EU Taxonomy seeks to encourage divestment from unsustainable investments. However, divestment only works if another investor buys the assets of the divesting investor. Divestment might be a good risk management strategy for a company or a fund manager. However, divestment is not an effective strategy for creating an actual outcome.
The FAO has a fascinating role as a mediator between private and public interests. It will do well not to become captured by one or the other.
Technological innovation alone will not achieve the required reductions in carbon emissions and biodiversity depletion. No matter how many efficiency measures we roll out, technical efficiency won’t be enough unless without a fundamental shift in business models and traditional thinking about business performance.