Torrey Project announces Global Initiative to Transform Capitalism
San Diego start-up is looking to tap into the power of business as a force for global change
May 30, 2019, 06:00 ET
SAN DIEGO, May 30, 2019 /PRNewswire/ -- The founders of Torrey Project are deeply concerned with the magnitude and trajectory of the current challenges facing our planet and society. These seasoned business executives believe that something must be done to stop the largely irreversible destruction of our global habitat and the growing socio-economic divide between the haves and the have-nots. The leadership of Torrey Project sees environmental degradation and economic injustice as the legacies that are being left behind for our children and future generations. They also believe that businesses, large and small, around the world, can save the day.
All it takes, according to Torrey Project, is the transition from the current form of conventional capitalism, that only cares about shareholder returns, to a more conscious and inclusive form of capitalism that requires all company stakeholders share in the success of the business. In this more advanced and sustainable form of capitalism, the environment and society are seen as important stakeholders and are treated with the same level of respect and concern as are shareholder returns. Torrey Project will strive to make the triple bottom line approach to business the norm rather than the exception.
"This change is not going to come about overnight," warns David J. Ferran, a Founding Member of Torrey Project. According to Mr. Ferran, "There is a great deal of institutional resistance that will have to be overcome. A new generation of entrepreneurs will have to be educated about the perilous consequences of following blindly in the footsteps of the entrepreneurs who preceded them." With a new way of looking at critical business decisions, tomorrow's entrepreneurs and business leaders will discover that it is indeed possible to do well financially, while at the same time doing good for the world. According to Ferran, "Investment Capital markets will have to continue their pivot towards socially responsible investing in a manner consistent with what is currently being promoted at the PRI Academy in London." "Fortunately, help is on the way. On May 10th the SEC approved the Long-Term Stock Exchange, which has game changing and world changing potential. Now, entrepreneurs can access public capital markets without sacrificing their values or their commitment to providing a proper return to all company stakeholders, including the environment and society."
Torrey Project Board Member, and former CEO of Con Agra, Tony Lewis, stated that "Education is going to be a key ingredient in all we do at Torrey Project." According to Mr. Lewis, Torrey Project's educational outreach "will span the entire gamut, including high school students, university students, young entrepreneurs, existing business leaders, and members of the global investment capital community."
Torrey Project will kick off its educational activities on June 3rd of this year with the launch of the first cohort for Torrey Project Incubator for Conscious Entrepreneurs. The intensive 30- day program is designed to help new entrepreneurs better understand how to navigate several of the most challenging aspects of founding, funding and building a conscious company. Successful graduates will receive Torrey Entrepreneurial Certification and will then be paired with a Torrey Project mentor who will assist and support them for the following 12 months. "The things these new entrepreneurs will learn at our incubator are not things that are taught in schools, at any level," says Lewis. Rather, he says, "We will be focused on the kind of business building skills that are typically only learned through years of hard work in the trenches."
"Our biggest challenge will be funding," says Ferran. "We know that money is tight for all start up CEOs and don't want to put any additional obstacles in their way. Accordingly, we will not be asking our entrepreneurs for any form of compensation for attending the Torrey Project incubator or for the year of follow-on mentorship." Funding for the program will come from corporate sponsors, foundations and family offices. We trust that, in time, our successful graduates will look back at the impact that Torrey Project had on their lives and their businesses and will choose to give back in support of our ongoing efforts."
Torrey Project is based in San Diego and can be reached by visiting: www.TorreyProject.org
SOURCE Torrey Project
