If this crisis turns out to be the catalyst that causes financial sector players to learn and transform ahead of the next "predictable surprise" (eg climate change) it may just prove itself - in time - to have been "worthwhile". And two letters published this week show there is some hope that this could be the eventual outcome.
The first is from Guy Hands, the founder and chief executive of of Terra Firma, a high profile Private Equity house. http://www.terrafirma.com/ceo-letters-article/articles/150.html
The second is from the Board of PRI. http://www.unpri.org/files/PR_statement_final.pdf
Both are important statements and worth reading in full. Trade associations typically face big hurdles in being direct since they often feel they need to go at the pace of their slower members. But as individuals in and around the financial system become more clear AND more convincing about what we think, so it will be possible for trade associations like PRI and ICGN to become a bigger part of the solution. That's why NSFM is set up for individuals and in particular, individuals who are aligned with the seven principles. Whether we are as famous as Hands or not, doesn't matter. What does matter is what we think, what we say and what we do - peer to peer influence is much more powerful a social change strategy than we may think.