Economic transformation is needed to save world resources, WWF president says

Humans have mismanaged public wealth by measuring it incorrectly, says Pavan Sukhdevin a lecture

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces (R), greets Dr Pavan Sukhdev (L), during a lecture titled: ”Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

Pavan Sukhdev (R), delivers a lecture titled: ”Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Sheikh Rashid bin Saud bin Rashid, Crown Prince of Umm Al Quwain, attend a lecture by Dr Pavan Sukhdev entitled: ”Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

Sheikh Hamed bin Zayed, Crown Prince Court of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, attends a lecture by Dr Pavan Sukhdev (Not shown), entitled: "Redefining wealth for an economy of performance" with Sheikh Nahyan Bin Zayed, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation (R).

Sheikh Nahyan bin Saif bin Mohamed, Staff Major General Faris Khalaf, Chairman of the UAE Critical Infrastructure and Coastal Protection Authority, Sheikh Mohamed bin Hamad bin Tahnoon, Mohamed bin Badowah,، Hussain Ibrahim, UAE Minister of Education, Awaidha Murshed, Chairman of the Department of Energy and Abu Dhabi Executive Council Member, Riyad Abdulrahman, Chairman of the Abu Dhabi Department of Finance and Abu Dhabi Executive Council Member and Dr Thani Al Zeyoudi, UAE Minister for Climate Change and Environment, attend a lecture by Dr Pavan Sukhdev (not shown) titled: ”Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

Dr Pavan Sukhdev (R), delivers a lecture titled: "Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

Guests and dignitaries attend a lecture by Dr Pavan Sukhdev.

Dr Pavan Sukhdev (on stage R) delivers a lecture titled: ”Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

Guests and dignitaries attend a lecture by Dr Pavan Sukhdev.

Guests and dignitaries attend a lecture by Dr Pavan Sukhdev (on stage R), titled: "Redefining wealth for an economy of performance", at Majlis Mohamed bin Zayed.

The president of the WWF has given a lecture on the importance of changing economies to protect the world from damage.

Pavan Sukhdev addressed Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in a lecture entitled 'Redefining Wealth for an Economy of Permanence' which was held at Abu Dhabi’s Al Bateen Palace on Wednesday.

"We live in an age where humanity has begun to significantly impact the Earth's geology and ecosystems, causing irreversible damage and rapidly using up resources as if they happened to be unlimited", he said.

"What is required instead is a change of economic direction and a new type of corporation whose goals are perfectly aligned with society rather than at its expense."

In conclusion, Mr Sukhdev added: "An economic shift needs to take place, the right system of measurement is adopted, and incentives and disincentives are aligned so as to achieve an economy of permanence.

"Unless this happens, ‘business-as-usual’ behavior by the private sector will continue to create huge public costs to generate private profits, leading to resources being used up rapidly.

"This would put livelihoods at risk and is a future that none of us can afford; therefore, economic transformation is required to deliver the economy of tomorrow."

Mr Sukhdev has also served as a Special Advisor and Head of the UN Environment Programme's Green Economy Initiative.