The professor calls for a change from a scarcity to an abundance mindset.
By JOSÉ ANGEL DE LA PAZ | EGADE BUSINESS SCHOOL
Boyd Cohen, a research professor at EGADE Business School—Tecnológico de Monterrey—presented his book Abundance Capitalism during EGADE Action Week 2024.
The scholar explained that the concept of “Abundance Capitalism” is based on the convergence of exponential technologies with sustainable and regenerative business practices, seeking to achieve inclusive prosperity for people and the planet.
One of the central points of his presentation, which took place on May 16 at the Monterrey site of EGADE Business School, was the need to change from a scarcity to an abundance mindset.
Cohen argued that, instead of viewing resources as limited, we should take advantage of technological innovations and sustainable practices to create a future in which prosperity and sustainability coexist.
To illustrate his points, the professor highlighted examples of sustainable projects in Copenhagen, Singapore, and Vancouver.
He said that in Copenhagen, the Amager Resource Center (ARC) can convert more than 400 thousand tons of waste into clean energy for the city in a year and also has a ski slope and climbing wall, among many other recreational facilities.
Singapore, he added, has developed a comprehensive water management strategy (Four National Taps) that includes rainwater catchment, grey and black water reuse, and desalination. He commented that this approach has not only solved the water problem of this city-state but has also produced an ecosystem of more than 200 companies and 25 research centers from the water sector, generating over 14 thousand jobs.
In addition, he stated, the Vancouver Olympic Villa development has converted a tract of industrial land into a sustainable community, with green buildings and affordable housing.
"The Vancouver project is a model of how cities can be sustainable and inclusive, offering housing for low-income individuals in the heart of the city," he said.
Cohen ended his presentation with an optimistic message, emphasizing that innovation and collaboration can lead us toward a future where sustainability and prosperity are available to all.
“We can transform our cities and economies by adopting new technologies and regenerative business models. The change to an abundance economy is possible if we work together," he concluded.
Cohen has also published three books, Post-Capitalist Entrepreneurship: Startups for the 99%, The Emergence of the Urban Entrepreneur, and Climate Capitalism: Capitalism in the Age of Climate Change, as well as multiple academic and popular articles, and has created several companies in the context of smart cities and sustainability.
His research has been published in Fast Company and CoinDesk, and he has numerous publications on smart cities. His "Smart Cities Wheel" model has been used by governments across the world to evaluate, classify, and plan their transition towards a future with net zero emissions.
He recently participated in the Business Territory podcast, episode 160 – Abundance Mindset and ESG for a Sustainable Future.