Muhammad Yunus and the bank he founded, Grameen Bank, won the Nobel Peace Prize in 2006 for helping to establish the microcredit movement across the developing world. He spoke recently with Margaret Collins, a personal finance reporter for Bloomberg News in New York.
Q: What is "social business?" I bet it doesn't mean what it sounds like.
A: Social business is business that solves problems rather than make people money. The simple idea is by making money you make yourself happy. So the happiness is measured in the money that you make. I'm saying there's another source of happiness. By making other people happy, you become happy. Somehow in the business world we have not allowed that happiness to sneak in. We kind of put a wall that 'oh, that's something you do philanthropically.' I said, 'No. We can do it as a business.'
I'm calling this "social business," because the profit-making business is about me. It's me-centered. Social business is nothing about me. It's all about others.
Good morning, and welcome back to The Griddle, a morning menu of fortified items for the busy person’s media diet. Bloomberg.com has launched a new section about all things “sustainability.” In the United States, this hexasyllabic moniker often connotes corporate environmental programs, many of which sound too good to be true. The sustainability imperative bursts beyond that years-old narrative. The story is now about long-term profitability amid intensifying global competition for strategic resources. It's about embedding long-term thought in daily decisions. It's the race for power and stability in the 21st century. See you at http://www.bloomberg.com/sustainability
And now, the news:Read more »
Vestas Wind Turbines isn't satisfied with being the world's largest maker of wind turbines. Today the Danish company is hailing the Greek wind god, Aeolus, to whip up winds strong enough to break another world record - in sailing.
Vestas engineers, drawing on expertise in aerodynamics and light-weight materials, designed and built the aptly named Sailrocket 2 at their research facility in the U.K.'s Isle of Wight. Today the team put their boat into water to challenge the previous sailing record, held by American kite surfer Rob Douglas. Kite surfing is an extreme water sport where the rider holds onto a large kite as if he were water skiing.Read more »
Good morning, and welcome back to The Griddle, a morning menu of fortified items for the busy person's media diet. In 1958, a scientist named C. David Keeling started monitoring the carbon dioxide content of the atmosphere, which was then about 314 ppm, or parts CO2 per million parts of air. Within two years, Keeling could tell it was trending up. The National Oceanic and Atmospheric Administration maintains this data set, known as the "Keeling Curve," to this day.
This morning, the World Meteorological Organization issued its annual Greenhouse Gas Bulletin, which measures levels of heat-trapping gases driving climate change. The WMO reports that 2010 set a new CO2 record, of 389 ppm, indicating a rebound in the global economy and a harbinger of the challenges ahead. And now, more news:Read more »
Good morning, and welcome back to The Griddle, a morning menu of fortified items for the busy person's media diet. Some state officials think the EPA's oversight of natural gas extraction from shale (aka hydraulic fracturing, aka fracking, aka fraccing) is better left to the states. “Fracking has never been regulated by the federal government,” Michael Krancer, secretary of Pennsylvania's environmental agency, told Bloomberg News. “This is a philosophic question that goes back to 1789.” See first opinions here by early blogger James Madison.
And now, today's news:Read more »
The UN Intergovernmental Panel on Climate Change whirrs into action this week with a significant assessment of extreme events and disasters. The final report is due on Nov. 18. A draft summary for policymakers obtained by Bloomberg shows the caution and rigor with which scientists approach attributing observed trends to man-made climate change.
The panel says it's “virtually certain” that warm daily temperature extremes will increase in this century. It’s "likely" that human influences have led to a warming of extreme daily minimum and maximum temperatures across the globe, and that instances of heavy rainfall will increase. The report finds the average maximum wind speed of hurricanes is likely to increase, though storm frequency is likely to drop or remain the same.Read more »
Good morning, and welcome back to The Griddle, a morning menu of fortified items for the busy person's media diet. Coffee futures rose the most in three weeks yesterday on higher anticipated demand in the U.S. We can't help but wonder how much of that is our fault, as we gear up for the launch of our new Sustainability page on Bloomberg.com. We'll have more news to share in the next few weeks.
In the meantime, enjoy these stories with a cup of your favorite morning beverage:Read more »
Good morning, and welcome to The Griddle, a morning menu of fortified items for the busy person's media diet. With Bangkok under water and Occupy Wall Street under arrest, the quote of the day comes from SmartPlanet columnist John Rennie: “Global warming’s connection to extreme weather events has always been as diffuse as the economy’s tie to unemployment. The difference is that no one has tried to pretend that the economy is irrelevant."
And now, the morning news:Read more »