INOKS Capital SA © 2017 4 INOKS IMPACT REPORT FOREWORD During INOKS’ first Impact Commitee, members opted to align their strategy with the idea of a “regenerative economy”. D o m i n i q u e B o u r g , h e a d o f t h e I m p a c t C ommi t tee, ex pla ins what m a kes this co ncept essentia l for hu m a ni t y to day: “What is a regenerative economy? Intuitively we sense the direction to take, but our knowledge of the great indicators and the transition towards the Anthropocene make our choices less obvious. Nevertheless, the situation that we are facing demands a firm and rapid reorientation of our investments and actions. The key indicator with respect to the degradation of our planet’s systems is the Rockström-Steffen planetary bound- ary. It defines nine boundaries that cross over into a danger zone for humanity’s survival: we have already crossed four of these limits. Firstly, the carbon cycle has led to a depletion of Earth’s populations and biodiversity. We are also exceeding nitrogen and phosphorus cycles due to agricultural activity, including land use and deforestation. Boundaries concerning water usage and ocean acidulation could be crossed in the coming decades. Other thresholds such as the introduction of new entities within the biosphere or the functional diversity within ecosys- tems, are more difficult to determine. Whilst these limits are fundamental, it is difficult to use them as a basis for public policy. The inertia of systems and the irreversibility created by our past actions prohibit it. It would take 100’000 years to return to the CO2 levels which prevailed prior-industrial revolution! To reconstruct of a biodiversity similar to the one we have destroyed would take millions of years. One indicator that can give rise to medium and short term public policy objectives, and overall direct the action of economic actors, is the notion of ecological footprint. This should be assessed as a single planet: nations that have surpassed their “share” (determined proportionally to their population) should cease to exceed the biological capacities of the biosphere and its capacity to withstand the effects of humanity’s activities. Another key aspect of footprint retention, also in the short to medium term, is soil regeneration. Regeneration is all the more important because it is an essential response to the threats posed by climate change, particularly on food produc-