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Innovative shopping centres can be recession-beaters
6th May 2009
Despite a backdrop of the most challenging world economic times for sixty years, shopping centres have the potential to significantly contribute to the drive for environmental and economic sustainability.
That was the view of Jeremy Rifkin, founder and president of US-based think tank The Foundation of Economic Trends, keynote speaker at the first day of the ICSC European Conference.
The world is currently facing three crises, he said. “Climate change, recession and an energy crisis.
“Despite our different dreams and cultures, American and The European Union must work together for the good of the world,” he stated. “Commerce is not a primary institution, it is an extension of culture, not the other way around.”
And shopping centres have a real part to play in helping to solve the energy crisis.
“Rather than energy consumers, they have the potential through innovation to become energy creators; power plants in their own right, feeding national power grids from a surplus of energy generated on site from green sources.”
Public and private sector agencies across the world are on the edge of a third industrial revolution, he added.
The European Parliament has already endorsed the Third Industrial Revolution and the European Commission is collaborating with European and American companies in pursuit of the new 21st Century economy. The Third Industrial Revolution Global CEO Business Roundtable, made up of more than 100 European and American companies and trade associations, is working together across industry lines to lay out the infrastructure for the new economy on both sides of the Atlantic.
Chief Economist at Deutsche Bank Research, Professor Dr Norbert Walker, also speaking at the conference, called 2009 a ‘lost year’ for international economies.
“GDP in Europe will be down by 5%, in China and Japan but 6-7% and in the US by 3.5%. Emerging Markets will shrink. My best guess is that after a year of downturn there is a chance of stabilization or even a slight increase in GDP at the end of 2010.”
However, Dr Walter warned that countries must avoid protectionism at all costs to provide the help that emerging countries will need to survive the downturn.
He called for business leaders to speak out and support the political system to make this happen.
To view the speaker presentations please click here
For information regarding how you can be involved in the 2010 conference taking place in Prague, please contact Jennifer Aungst on +44 207 344 1895 or email jennifera@lodestaruk.com.
