The Globalization Council Agenda
1. Background
The purpose of the “Globalization Council” is to allow for the reflection and shared understanding by influential leaders of multinational companies on how to promote and engage their companies, other companies, governments, NGOs, and society at large in the endeavor of a pluralistic Globalization. Portugal is historically and circumstantially the ideal context for such Council.
During the first meeting of the Council, held on the 10th of November of 2006, the members engaged in the discussion around three agenda items: metanational advantage and the globally integrated company; gateways and barriers to globalization, and expanding the benefits of connectivity. During the second Meeting of the Council, held on September 28th 2007, the members engaged in the debate around three agenda items: Entry Strategies for the XXI Century, Innovation in a Global World and Private Equity.
2. Topics to be discussed
Topic 1 – New Global Financial Framework
The intense movement of financial innovation, an unprecedented increase in international financial flows, the appearance of new players and the deep changes in the world distribution of savings, have contributed to the creation of what some have called the New Global Financial Framework.
The turbulence experienced by the financial markets over the last year - with a distinguishing characteristic, vis-à-vis previous years, of having originated in the United states and not in emerging markets - has generated an intense debate regarding the actions Governments should take and the way countries should position themselves within this ongoing dynamics. Furthermore, it has caused experts to refer the need to consider new business models, as well as deep regulatory changes.
The financial system has, and will continue to have, a leading role in channelling resources and in financing investment and consumption, therefore promoting conditions for growth. The priority is for actions which, without questioning the leading role of the financial system, allow for mitigating the volatility and the transmission of financial shocks into the real economy. Likewise, the way in which countries and governments should handle new instruments and institutions, like the sovereign funds, hedge funds or Private Equity, are relevant issues.
Topic 2 – Energy Policy and Sustainable Development
Sustainable development is today a core subject in economic activity and social relations. The environmental dimension, although not alone, appears as a main concern, and climate change is one of its most evident signs. Several studies, such as the Stern Report, have established the need for immediate action by governments, companies and citizens, aiming at preventing future impacts associated with climate change. Dealing with climate change is one of the main challenges humanity has to face this century, demanding a global response.
Acknowledging the weight that energy production and use have on greenhouse gas emissions gives energy policy a fundamental role in fighting climate change and in promoting an integrated approach to environmental and energy issues. Many countries, particularly in Europe, have focussed intensely on the use of new power sources, which has an impact in a company’s competitiveness. Within that context, an assessment of the implications regarding countries and companies of the energy power choices made is an essential element for defining the best-suited strategies.
3. Method for discussion
There will be two sessions, one for each above topics. Each session will be open by the lead speakers, who will present in five minutes their perspectives on the topic. Then, the discussion will be open to all other participants
