In a world driven by profit, the question of environmental stewardship has always been somewhat complex. This quandary is best summarised by the findings of the Intergovernmental Panel on Climate Change (IPCC), which concluded that our global response to climate change is not restricted by scientific knowledge or technological capabilities, but rather by politics and fossil fuel interests.

As infamously stated by Gordon Gekko in The Wolf of Wall Street, "Greed is good." This sentiment has underpinned the world's financial evolution, but at what cost?

Greed, in its relentless pursuit of profit, has led to a failure to account for the environmental toll of economic growth. This failure translates into environmental crises affecting our soil, water, and air. The catastrophic impacts include exacerbated climate change and a wide array of ecological challenges.

Our global attention seems to be narrowly fixated on the concept of climate change and one specific element, CO2. But climate models are far more intricate, encompassing oceans, flora, fauna, the sun, and our atmospheric makeup.

Unfortunately, the polarised debates surrounding climate change are reminiscent of UK's Brexit, filled with doom on one side and denial on the other. With fossil fuel-backed naysayers controlling the narrative, even events like COP28 have come under scrutiny for being influenced by oil companies.

The need for investment in nature-regenerative technologies is clear. However, data from the International Energy Agency (IEA) reveals a disappointing trend. Despite record profits, the oil and gas industry has reduced investments in exploration and production, diverting profits to shareholders instead of fostering sustainable technologies.

The rise of electric vehicles and renewable energy is posing a threat to traditional fossil fuel consumption. Yet, the industry seems hesitant to invest in the future, fearing the losses experienced in the past from ventures like fracking.

The concept of Conscious Capitalism, popularised by John Mackey, CEO of Whole Foods, and elaborated in the book “The Conscious Capitalism Field Guide,” provides a potential path forward. With its four pillars of higher purpose, stakeholder orientation, conscious leadership, and conscious culture, this philosophy calls for a rethinking of business ethics.

The UN's 1987 definition of sustainability aligns well with the principles of Conscious Capitalism. It promotes a vision where business is not solely about profit but recognises and serves all stakeholders, including the planet.

The current era demands a shift from mere rhetoric to decisive action. Environmental challenges cannot be swept under the rug of profit. The understanding of our climate is not an excuse to inaction but rather a call to embrace innovative solutions.

By adopting the principles of Conscious Capitalism, organisations can demonstrate a commitment to a higher purpose that transcends profit. It’s time for leadership at all levels to embrace this vision, aligning the interests of stakeholders, recognising the interdependent nature of business, and taking responsible actions for the betterment of the planet.

In a world where greed has driven us to the brink, it is perhaps time to imagine a new mythical beast: a capitalistic system that does not just consume but also conserves and nurtures. The seeds of this idea are present, but will we allow them to grow? Only time will tell.