NATURAL CAPITAL CONSIDERATION AND THE PARADIGM SHIFT TO NCC FROM PAY & GCT
Written by: Claudette de la Haye, Detroit, MI USA, Founder, Caribbean Financial Network News.
The EnvironmentalistAugmentsvsBusiness, Investors and Shareholders.
The need to do business and have transparency the right way is ever more apparent. If you can’t trust business then, who do you trust and who are the role models in societal Jamiaca? Jamaican politicians need to restructure the tax base if it is going to take advantage of the Emerging Market trend since, the revised global economic forecast by the International Monetary Fund (IMF)
Society; Politicians, CEOs’, Employees, Manufacturers, Parents, Schools, Teachers, Media, NGO’s, Churches, Hospitals along with Ministers of Agriculture, Tourism, Industry, Investment & Commerce, Land, Water, Environment and Climate Change, as well as, Finance and Planning all have a role to play in creating this new tax within the holistic preservation of Jamiaca in the future.
So, on the issue of trust let us separate the politicians from business because, when you look at the stock exchange universallythere is far greater economic impact with the Jamaican Stock Exchange and regulatory transparency than a politician. The preservation of land, labour and capital along with natural resources require the stewardship of the people far greater than politicians to create a paradigm shift in the love of Jamiaca.
JSE offers green shoots of hope while government will fails.JSE builds prosperity into public markets however, investors must place values/decisions that are long term sustainability and failing to invest long term will come to bite investors in the short term. Public, Private & Government have an environmental responsibility and we must have sustainable government policy to invest in youth, reduce criminality and boot investor confidence.
Jamaica CEO’s are running business for the long term and NOT short encompassing the short term of returns vs duration of returns.
WHAT WE DO WITH THE MONEY WE MAKE VS HOW WE MAKE MONEY WHICH GOVERNS SOCIAL CORPORATE RESPONSIBILITY.
FRAMING CORPERATE RESPONSIBILITY IS KEY. YOU MIGHT MAKE THE MONEY THEN GO BUILD A HOSPITAL WING AND CALL IT CORPORATE RESPONSIBILITY HOWEVER, BY REDUCING YOUR CARBON FOOTPRINT IS FAR MORE EQUITABLE BECAUSE THEN, YOU ARE PRESERVING THE COMPANY/EMPLOYEESAND PROTECTING THE COMMUNITY & ENVIRONMENT.
IN MBS PROGRAMS THEY SAY MAKE MONEY AT ALL COSTS THEN IF THAT DOSEN’T WORK LAW SCHOOL WILL BAIL YOU OUT AND WHEN IT COMES TO THE ENVIRONMENTALISTS THE NGO’S WILL BAIL YOU AND WHEN YOU ARE AT THE END OF YOUR ROPE
THE DIVINITY SCHOOL AND CHURCH WILL PRAY FOR YOU!!BUSINESS CANNOT SOLVE EVERYTHING WE MUST KEY OUR EYE ON THE UNEMPLOYED YOUTH ALONG WITH GOVERNMENT.
SO YOU CAN’T REALLY GO OUT MAKE MONEY, COMMIT THE SIN AND THEN, GO CONFESS AFTERWARDS. LET ALONE ASK FOR FORGIVENESS BEFORE YOU ASK PERMISSION. UNIVERSITIES HAVE TO CHANGE THE ACADEMIC BUSINESS MODEL AND DIALOGUE.
By placing an emphasis on Natural Capital Consideration (NCC) and reformulating taxation on the usage of land water and particularly the environment will Jamaica be able to trulyput a value on what the what environmentalists consider sacred if not precious resources between Jamaican and the rest of the Caribbean. Here is what we can embrace using the following;
FORMULA: Natural Capital Constrains (ie; Land, Water, Environment as Capital Constraints) = Eco MinusEco NeutralPeople Plus then the tax burden must shift to resources rather than a people taxed based economy which, is already over taxedwith the PAY system.
*Eco Minus(some more eco elements are more valuable than other so, we use a scale of 1-10 pending on how valuable/frequencyof the commodity.
* Eco NeutralResources such as sun, wind and water in the analysis of achieving greater efficiencies as opposed to oil (substitutes) reduces the *TD
* People Plus Value added of a trained and educated workforce working at the highest economics of scale (different in every business model) as well as the input of the environmentalist.
* Trade DeficitReduction of currency devaluation creating stability.
What is Corporate Jamiaca i.e. PSOJ, MSME’s JAMPRO, Manufacturing Creative Industries, Mediadoing to address the economic harmony of the
Environmentalist, Local & International Investors, Jamaica Stock Exchange and Shareholders?
PSOJ:Must re-evalutate the structure of the P & L and align it with Cash Flow Statements. While P & L and Depreciation will fluctuate Cash is key because you can correlate it’s utility. No cash. No business. Make Voluntary internal changes to charge more for the use (Consumption Tax) Employ local inhabitants as this creates local consumers and consumer confidence and encourage foreign re divestment of profits into communities.
MSME’s Provide remote access jobs for young and graduating students whom represent 23% of the employment population of Jamiaca.
The are some counties who have a vastly under educated population and they could use those grad who could stay in Jamaica working from their homes earning foreign currency hence, create a reservoir of capital, reduce the sliding JMD $ and reduced our Trade Deficit gap..
JAMPRO:Network with other countries to create new policies for remote access employment and improve the conditions of Freedom of Movement within CARICOM State Members or put more emphasis on the development of remote access employment. .
JSE: Stimulate the activity of investment instruments and realise transparency, consumer confidence local and international that resources have a long term inherent value and in create the Environmentalist Value from the stand point of taxation (this is nice to see on the balance sheet but will NOT necessarily carry a realistic value for shareholders, environmentalists and investors.
MEDIA:Educate, debate and set expectations pressure for benchmarking/consequence driven businesses to answer when targets are not met.
Interview CEO’s and expound on business models rather than create sound bites that set a false impression of business models. This will allow CEO to expound on their business models and build consumer confidence.
Main Street wall street is another argument because the money you are using are the people from main street and their pension funds. so, the question because do you want a pension or a job?Again you have to have a finite balance with policy makers in government are constantly trying to undermine business which, begs us to ask does government have a conscious? And, bridging the gap is key so, don’t demonize our entrepreneurs because they are the mothers and fathers int he community with families. We must as a community understand the logic and downstrem consequences for years with the CARICOM region.
Life is more complicated than you think and the people with a hear go to work for NGOs and the people without a hear may well be working in the public and Private Sector given the election cycles adding compliance and complexities of doing business.
There is tips woo much emphasis on short term. We need better relationships with business and government to better understand how to create jobs. Media needs create a long term sustainability of the economy and less knee jerk reactions. Board of Directors need to re-evaluate their relationships/purpose between stakeholder and investors.
We are all all in this life together for the long haul.