The morning plenary at the Clinton Global Initiative [1] (CGI) just concluded. After some opening remarks, President Clinton "Oprahed" an august panel that included Queen Rania Al-Abdullah (Jordan), E. Neville Isdell [2], chairman of Coca-Cola, President Ellen Johnson-Sirleaf [3] of Liberia, Al Gore [4] and the person I was most excited to hear Bono [5]!
This is the fourth CGI but the first that I have attended. It is a star-studded alignment of donors like Pam Omidyar [6], corporate CEOs, nonprofits, Nobel Peace PrizeLaureates like Gore and Muhammad Yunus, the founder of the Grameen Bank, and government types. Mayor Bloomberg, who spoke with Lance Armstrong, prior to the panel about funding cancer prevention in Africa, is all of the above minus the Nobel Peace Prize!
The CGI brings all of these pieces together to provide large investments in infrastructure and urgent needs in developing countries. It is astonishing to see the size of the commitments - similar in size to the economies of the countries themselves - as President Clinton recited over the past four years of $30 billion affecting 215 million people in tens of countries. In additon, the microphilanthropy segment of CGI has raised $4 million, generated 400,000 hours of volunteer time and donated 4 million items to causes.
Here's a selection of comments from the panelists:
- Queen Rania mentioned that the total annual cost to educate every child in the world is $11 billion. Hmmm, compare that to a 700 bilion bailout of Wall Street -- or as President Clinton said, it is half the monthly cost of our military effort in Iraq.
- Isdell was fascinating, an incredibly forward-looking corporate steward. He said that, "believing that the only purpose of business is to make a profit is last century thinking. We have to function as a partner in every society in which we are based, it's good for business." He said that unlike the last major recession in 1998, emerging markets are more robust and stable and are becoming the epicenter of economic growth -- as if we weren't scared enough already!
- Bono was as fabulous as I hoped. He compared the $700 billion bailout to the $20 billion that that G8 countries have yet to find to eliminate childhood poverty and hunger. I was very moved by his recollection of what Warren Buffet told him once, "Don't apeal to the conscious of Americans, appeal to the greatness of America!"
- Al Gore was the closer. A bit puffed up, literally and figuratively, he gave an impassioned talk on the need to create a "smart grid" that replaces the old power grid with wind, solar and geothermal power. In what was to that point a rather subdued room, Gore got a rousing ovation when he called for civil disobedience by young people to fight the creation of new coal and oil-burning power plants.
A surprise appearance by the former President Bush, the bookend of what he called the "odd couple" with President Clinton to announce a new initiative to support hurricane ravaged areas of the Gulf coast.
As the official webcaster of the 2008 Clinton Global Initiative Annual Meeting, the Kaiser Network provides live and archived coverage as well as transcripts and podcasts of events [7].
All in all a fascinating amalgam of policy, philanthropy, and populism. I just wonder, though, is it voluntary action we're watching -- or a brand new form of government that replaces the old big/small paradigm. Hmmm.
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