Έργα

Despite alarms on the need to unlock financial capitals to reverse the trend of the climate change has been rising for years, short-sightedness’ of humans seem to prevail. Behavioural economics has shown that humans are affected by a cognitive bias knownas hyperbolic discount: we make choices today that our future self would prefer not to have made as we do not correctly perceive problems if they are far in the future.

 

To create the mindset required to act against the climate change, problemowners in the ecosystem should become aware of the climate change implications, then they must establish the intention to change their behaviour and finally they must act to make the change.

 

Based on empirical behavioural economics, firstly we will test on a defined group of investors and entrepreneurs some de-biasing videos specifically designed to overcome the hyperbolic discount bias on one of the priorities for the contrast to the climate change, which is the implementation of circular thinking in the industry production to reduce waste and gas emissions coming from the materials’ processes and the re-orientation of capitals towards circular models. The information collected during the experiment will allow for the co-creation of innovative learning initiatives on circular thinking adding to previous pilot experiences that ENEA and AESS realized in 2019 with a particular focus on the construction sector. Nudging initiatives on circular investing will also be co-created and designed to stimulate capital inflows to circular businesses, also supported and endorsed by the active role that CONSOB (the supervisory authority for the Italian financial products market) will play in the project.

 

The pan-European extension of this project (Italy, Greece and Bulgaria) will also allow for a more effective co-creation of scaled nudging and learning solutions based on the experiences of the different geographical contexts involved.