For Victory Hill, a core component of our business will be selecting investments and offering advice, which meet not only the risk and returns criteria of the firm and it's investors, but also importantly, with our Sustainable Development Culture.
Sustainability often gets conflated as climate change. Due to the origins of the Sustainable Development concept, and due to the relative ease of measurement of Climate Change. Climate Change is indeed the easiest proxy for Sustainable Development. For example, if emissions of CO2 were a million tonnes, and our objective were to reduce them by 10%, this could easily be communicated, measured, tracked, and, in fact, achieved. Both businesses and governments have been tackling these environmental issues in this way for several decades.
In our world view, a Sustainable Development Culture encompasses much more than environmental considerations. It must integrate economic, social and environmental concerns over time, in a mutually reinforcing way.
Sustainable Development promotes good governance, healthy living, innovation, lifelong learning, and all forms of economic growth. By promoting good and participative governance principles, a Sustainable Development Culture has wider implications across almost every problem facing society today.
In this regard, we choose to operate, and interact with stakeholders who invest in transparent, properly regulated markets that promote social equity alongside personal prosperity. We must ensure that there is accountability for the very principle that all polluters must pay, that our governance should be participative, and where there is doubt, particularly as it stretches across generations, that we adopt a precautionary approach. It is, this precautionary approach, that allows us to use sound-science responsibly in our decision-making.
We recognise that we must contribute strongly to the implementation of a Sustainable Development Culture at Victory Hill, this should lead to a consequential promotion of the principles of social harmony and the prospects for each individual to lead a fulfilling life in the wider society. Thereby, our firm acknowledges its commitment to participate in sustainable investments as well as climate change focused investments by shaping our portfolios around these long-term goals.
As economies develop, populations grow, as does their income, demand for energy increases. Our goal is to support the development of growing economies around the world by investing and deploying capital to support economic development.
Over 13% of the world's population do not have access to electricity. Over 40% of the world's population does not have access to clean fuels for cooking. We are committed to supporting the improvement of Energy Access through our investments.
After this recent global pandemic, the world has experienced a seminal shift. The moment is very opportune to help us all transition towards lower carbon forms of energy. We believe in an orderly transition, one that does not tax societies and deprive them from basic access to energy.
Nothing disrupts society and the economy more than new technologies. Yet failure to create efficiency & resilience can also create change and affect how we achieve a sustainable energy paradigm. We believe focusing our investments in efficiencies and creating resilience make for sounder returns.