WWF boss wants to put the company at the service of the environment

"The company is the most important institution of our time". This creed does not come from the mouth of a financier but from that of Pavan Sukhdev, new president of WWF International, convinced that entrepreneurs have a "moral" duty to protect the environment.

The purpose of the company "goes well beyond profit," says the Indian economist, in an interview with AFP. The former banker was in Paris Wednesday and Thursday, while he took the reins of the environmental NGO, present in more than 80 countries to preserve species and wild areas at risk. It has been forming partnerships with companies for about ten years.

"To survive, I have to breathe, but breathing is not my goal." In the same way, the company needs to make a profit. to exist, but the benefits are not its end, it's just part of the mechanism, "he says.

Fine glasses, impeccable tie suit, Pavan Sukhdev challenges" the creed "of the liberal economist Milton Friedman "that the company is simply a cash machine for the shareholders", during a meeting at WWF France headquarters in the Paris suburbs.

In his view, the goal of private companies must be "societal : solve problems, add value, serve society "because they cause damage to the planet. "It's a moral and economic imperative."

The economist, 57, gives a concrete example: "I'm selling a car, I'm making a profit, I'm happy … You're driving the car (…) you're happy, but a third person may not be, because the emissions from your car can affect his lungs, and a fourth person may not be happy either because these emissions contribute to climate change and his house on board of sea was destroyed by the rise of the waters and the storms. "

" These people suffer from the + externalities + of our economic activity (…) ", that is to say of collateral effects.

Today, "CEOs and economic leaders have a moral imperative to recognize the existence of these" + externalities ", to measure them (…) and to reduce them to the extent possible."

– Atypical Profile –

If a trend in this direction is initiated, "changes must be accelerated", both by "encouraging good behavior" and "overwhelming the bad". To achieve this, "we all have a role to play," insists the Indian, who took advantage of his stay in Paris to meet the Secretary of State for the Transition Brune Poirson ecological or representatives of the OECD. 19659002] He pleads for "a more responsible mode of consumption, which recognizes its impact" on the environment and "does not encourage you to consume in a way that is damaging to nature, society."

Pavan Sukhdev has an atypical profile in the world of NGOs: he spent 11 years in the Australian bank AZN, then 14 years in the German group Deutsche Bank, in Asia and London, working in particular on derivatives. But his "passion" for the environment has finally taken over, he says.

He was director of the UN's green initiative and led the study on the economics of the environment. Ecosystems and Biodiversity (TEEB), published in 2010, which helped to popularize the concept of "natural capital". The idea is to evaluate the value of the services rendered by biodiversity, now made free of charge. According to this work, the erosion of biodiversity costs between 1,350 and 3,100 billion euros per year.

Even today, this concept remains poorly understood, which can lead to "resistance", recognizes the economist.

"It's not about privatizing the commons, it's the exact opposite: it's about finding a rational reason to ensure that the public wealth of nature – central to our lives – be kept ". From theory to practice, there is still a chasm, he admits.

Cicil Use Service, Light Installment to Buy Smart Phones

Until recently, Javier, a regular 60-year-old cook, still has not been able to afford a smart phone.

Currently, thanks to a company in Silicon Valley, Javier has Galaxy S8, one of the most sophisticated smart phones made by Samsung. Javier says he relies a lot on his smart phone.

Once a month, he goes to a mobile phone shop near San Francisco to pay the mortgage. If he does not pay the mortgage, his phone will be locked. Can not watch YouTube, can not use Skype, can not access Facebook. Yet he has never been able to afford the repayments.

Many people can not afford smart phones

Around the world, more and more people are counting on smartphones to connect to the internet, however, for many people the price still too expensive. For about 1 in 10 consumers in America without a financial footprint – no banking history or credit score – it's hard to buy smart phones even for a light installment scheme offered by big operators.

Javier, who refuses to giving his last name because he was an illegitimate immigrant, had already paid three installments to PayJoy, a company founded by former Google employees. PayJoy offers a cicil-wear model for the smart phone market aimed specifically at customers with little credit history or poor credit history.

"We work with immigrants from all over the world who come to the US, and we work with Americans who out of the financial system, "said Doug Ricket, PayJoy's managing director, and they can get a good smart phone. And for PayJoy, we say, "Welcome to the 21st century and get all the modern apps."

New way to predict a person's credit risk

PayJoy predicts a person's credit risk is different from most companies. A customer submits his Facebook profile, phone number, and government issued ID card. PayJoy determines the risk level of the person before offering credit for the purchase of the phone. Then, the customer chooses the installment plan and submits the down payment. PayJoy's research has found that Facebook profiles can be useful in determining one's identity.

"We start from a collection of people who do not have traditional credit numbers and we can say for most of them we can actually find something that credit agencies can not find (19659008)

If a customer does not pay the installment until 5 pm on the due date, PayJoy will lock the phone remotely. Someone can only make emergency calls or call PayJoy customer service. Customers can see their friends sending sms or messages via Facebook, but they can not open the phone to read the messages sent.

"Now, if we look from the international perception, we see more people switching from folding phones to the smart phone, and people switch from the phone with a very simple feature to the phone that can handle Facebook, maps and Instagram, "said Ricket.

When customers decide not to pay installments, they can return the phone without penalty. But if they have paid off all the installments, they can be repaid for a more sophisticated model. PayJoy earned money from interest charged – up to 50 percent on certain cases – from the retail price of the phone

Developing business to Africa, Asia and India

The company runs its business in America United and Mexico and plans to expand its business to Kenya, Tanzania, Southeast Asia, and India. So far, PayJoy only offers this scheme on Android-based smartphones, Google's operating system, but Ricket hopes one day his company can offer the same scheme for iPhones.

PayJoy's vision is not just to be a smart phone company, but to be a company financing, offering customers a way to use their phones as collateral to pay for television and other household items.

"Once a customer receives his smart phone, they can use his smart phone to purchase a PayJoy smart phone or pledge an existing smart phone to get financing for the purchase of a TV or sofa, "Ricket said.

If PayJoy is successful, people in emerging markets can increase their smart phone options to more sophisticated models, and gain new ways to finance their purchases. [ww]

Action Shootings Near US National Security Service Building, 3 Injured

Three people were shot and wounded on Wednesday near the US National Security Service (NSA) building outside Washington DC

US media reports said a suspect was arrested and seen handcuffed and surrounded by police near the door the entrance gate of the building at Fort Meade, in the suburbs of Maryland.

Nearby, a black SUV was seen near a barrier obstacle. A number of bullet holes were visible in the car that seemed to hit the barrier. Traffic on the road leading to the NSA was blocked.

 Atmosphere at shooting location outside NSA building, outside Washington DC (14/2).

Atmosphere at shooting location outside NSA building, outside Washington DC (14/2).

No further details continued on the incident. The intelligence service is responsible for US global electronic wiretapping actions in an effort to combat terrorist threats.

US President Donald Trump has been notified of the incident. [ab/uh]

Amazon Launches Delivery Service for 'Whole Foods' Order

Online retail giant Amazon ships within two hours of ordering from the Whole Foods grocery store for those who subscribe to Amazon Prime. Amazon Prime fee is 99 dollars per year.

This is Amazon's latest move after recently purchasing Whole Foods. Amazon has already cut the prices of bananas, yogurt and other items, and started selling Kindle in some of 470 Whole Foods stores.

The order delivery service will start Thursday in Austin, Texas, Cincinnati, Dallas, Virginia Beach, Virginia and launched nationwide this year.

Buyers can order meat, seafood and other food items through Amazon apps and sites.

Seattle-based Amazon says it does not charge extra for delivery of goods within two hours of ordering, for purchases above 35 dollars, but delivery service within one hour will cost 8 dollars. [my/jm]

China's Service Sector, Especially Internet-Based Business, Will Continue Excellently

The service sector in China, especially internet-based businesses, will continue to outperform other sectors by 2018 to support China's economic growth, analysts say.

Tang Jianwei, an analyst at Bank of Communications, estimates sector growth rates services will exceed the industrial sector, along with the development of the digital economy.

"Structural reforms in China's supply sector will lead to industrial upgrading, improving the efficiency and quality of the company, Tang said.

The latest data in the National Bureau of Statistics shows China's services sector increased by 8% by 2017, outperforming the economy as a whole which grew in the range of 6.9%.

According to Nomura, a Japanese securities company, the study on the data shows the contribution of traditional service sectors, such as real estate, retail and wholesale, finance and catering, last year all decreased or fixed

The main advantage is mainly driven by information technology and transport services, which is a sign of strong performance in the new Internet-based economy, he added.

"We believe that Internet business is likely to continue to excel when China adjusts its economy to what it calls as a new economy, "said Nomura.

After the release of better GDP data from perkiraa n on Thursday (18/1), Nomura raise China's GDP growth forecast to 0.1 percentage points, to 6.5%. [em]