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Elizabeth Kalaj, Senior Writer

Gernot Wagner, Ph.D, a climate economist at Columbia’s School of Business, visited Manhattan University to educate students and faculty on the topic of climate co-opetition. In addition to teaching, Wagner has written four books within his expertise, including, “Climate Shock: The Economic Consequences of a Hotter Planet”. He focuses on both climate risks and climate policy.

Wagner shared a unique perspective on the connection between climate issues and the economy. Specifically, he focused on the idea of business co-opetition, in which competing businesses strive towards a similar goal. 

Throughout the lecture, Wagner explained the causes of climate change as well as individual and collective affects that people can have on the issue, along with the difficulties of finding solutions through economic systems.

“The trick is finding a way to solve this now in a somewhat systematic way instead of just storytelling,” Wagner said, “It is finding a way of saying that the price is not right, while at the same time, acknowledging that it is going to be climate technology and climate finance along with entrepreneurs and businesses that are going to solve climate issues.”

Wagner used examples including co-op housing, sports, nobel peace prizes and business organizations to explain the idea of co-opetition. He stressed the idea of competition improving everybody, including the businesses and organizations fighting towards environmentally friendly solutions. 

Faculty that attended the lecture added to it by providing their personal perspectives on business co-opetition. Elizabeth Moulton, Ph.D. and an assistant professor of management and marketing, shared her thoughts on the intersection of business, government and strategy. 

“I always teach in my classes that the government has its own sphere,” Moulton said. “That is to keep people safe and set the rules of the ‘game’. Business has its sphere which is to innovate and make things, which the government cannot do on its own. So usually, they seem like fairly separate spheres but if the government sets rules to a game with a mission, then business competition takes over and can figure things out to reach the goal.”

Students who attended the lecture gained insight regarding climate co-opetition. However, they gained even more valuable information that they can transfer to the rest of their careers within the business world.

Christian Hirano, a senior finance major at the MU O’Malley School of Business, spoke about the lessons he learned from this conversation with Wagner.

“His [Wagner’s] explanations of sustainability within different industries really painted a picture of how much competition has contributed to the development of sustainable technologies” Hirano said. “In addition to highlighting that we are in the middle of a major shift in methods of production, it demonstrated that through very different approaches, it is possible to achieve the same end. I will carry this with me by recognizing that just because something is not being done, that does not mean a cleaner method does not exist, and that which suppliers we choose from a business perspective will directly shape the future of sustainability products.”