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Banff Mountain Summit: Oct. 27 - 29, 2002

Adventure Capitalists - Corporate Responsibility

Extreme landscapes are fuelling the new economy in several ways. The outdoor industry has never been healthier. As the adventure attitude is becoming mainstream, the demographics of developed nations provide a never-ending source of customers, and sophisticated marketing creates an insatiable appetite for outdoor experiences.

At the same time, extreme landscapes continue to be the storage houses for important natural resources, from fossil fuels to clean water. Extraction and consumption of these precious resources continues at accelerated rates.

What are the corporate responsibilities of those who profit the most? Is there a moral imperative for the corporate world to give back to the extreme landscapes that provide the profit margins enjoyed by so many? Should the outdoor industry as a whole take a stand and set an example, or is it up to a few landmark companies to set the standard? The oil and gas industry generates significant profits from the world’s extreme landscapes. Is there a place for leadership from the corporate resource-extraction sector which supersedes legal and political responsibility and points the way for governments and individuals?

Some individual companies are taking a leadership role in recognizing the financial benefits of extreme landscape, and the responsibility for investing back in that landscape. There are examples of entire groups of companies who have recognized that debt and who have organized themselves to operate in a responsible way.

Many individuals and some foundations are now becoming actively involved in purchasing large tracts of wilderness in order to provide access to the public for recreational purposes in some cases, actually giving the land back to the governments with stipulations for preservation.

The panelists represent a wide range of backgrounds and views: Randy Gossen is Vice-president of Nexxen Oil in Calgary, Alberta, as well as the chairman of the International Petroleum Industry Environmental Conservation Association. Yvon Chouinard is President of Patagonia, a company that has long set the standard in the outdoor industry for reinvesting in the landscape. He has recently initiated the 1% Club, membership to which requires committing one per cent of gross revenues back to the environment. Rick Ridgeway is leading a group of individuals and companies in purchasing huge tracts of land in South America in order to give the land back to the respective governments as national parks. Peter Robinson is CEO of Mountain Equipment Co-op, a Canadian outdoor-equipment co-operative that has had a strong environmental mandate since its inception.

 

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