The greatest challenge facing the Greatest Generation was the reconstruction of war-torn Europe. The greatest challenge facing our generation is the construction of a new energy economy to avert confrontation with climate catastrophe.
The Greatest Generation met its challenge through a Marshall Plan funded largely through the insurance industry. Our generation can meet our challenge through a New Energy Marshall Plan funded by our retirement system.
This will require a new form of finance and a new form of financier that we can find in pensions and other superfiduciaries as large, purposeful and perpetual investors with the power to inject social and environmental values into their investment by negotiating cash flow sharing with enterprise, directly, to generate adequate fiduciary cash flows, indefinitely.
This new form of finance will best be developed project by project, because finance has to finance something. We have identified two new-energy projects to pave the way: a technology development project for wave energy and a technology deployment project for engineered geothermal heat mining.
Our movement creates the opportunity to evolve a new role for the university, as a provider of fiduciary spaces for superfiduciary collaboration, connection, and best practices—because finance has to happen somewhere. Ours will happen in the Macro Center at Roger Williams University.
And it creates the need and the opportunity for philanthropy become a catalyst through change by funding projects for others to talk about, learn from, and emulate.