Photo: Michael Bloomberg. Photographer: Bryan van der Beek © Bloomberg L.P.
November 16-19, 2021, the most influential CEOs and policymakers gathered at the fourth annual Bloomberg New Economy Forum in Singapore to discuss the key challenges facing the world in the 21st century.
“We need action, action that can be measured, action that can be quantified, action that becomes publicly reported and action that will save lives.”Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies.
This year, Bloomberg New Economy launched four New Economy Councils as the heart of the institution, producing actionable insights and recommendations for business and government in combating the challenges the world faces. Building on expert research and insights from McKinsey & Company, BloombergNEF, Bloomberg Economics, and Bloomberg Intelligence, New Economy Councils work on developing frameworks for policy and roadmaps for corporate action in crucial issues of health, cities, trade and climate.
Fluxus CEO Fanyu Lin is a Council Member of the Bloomberg New Economy Cities Council, co-chaired by Chairman of Vanke Yu Liang. 16 Council Members including mayors, policymakers, architects, developers, investors, academic leaders and executives from HSBC and Mastercard, working with the Forum’s Knowledge Partner McKinsey & Company on a new global framework for building dynamic cities.
“As the future of the global economy increasingly shifts East and South, society needs a better lens to assess the world’s principal motors of growth—cities. Toward that end, the Bloomberg New Economy Cities Council presents a Dynamic Cities Framework for evaluating, tracking, and advancing the progress of New Economy cities as sustainable, vibrant, responsive hubs for talent and innovation. Since what gets measured ought to be managed, we also offer some early ideas on how to meaningfully move the needle on key metrics of dynamism.”– Bloomberg New Economy Dynamic Cities Framework
Just as cities are dynamic, this framework is dynamic. With inputs and weightings that change as our collective understanding advances about which outcomes matter most according to the size and stage of development of each city. It aims to capture improvements and positive change, versus simply highlighting which cities are already furthest ahead on any given metric. It is holistic, with six pillars representing different aspects of city success. While the pillars are interrelated, they can be categorized into two groups: those that provide a foundation of stability (Fair, Sustainable, Happy) and those that are drivers of change (Innovative, Data-Driven, and Responsive). This framework also identifies links to the UN’s Sustainable Development Goals (SDGs), which are already serving as guiding principles for many urban development projects and policies.
In the Sustainable Pillar:
Across construction, real estate, mobility, and industry, cities have an outsized influence on the global drive towards sustainability. Increasing urbanization allows cities to realize economies of scale when creating and commercializing solutions. As the locus of global construction, cities can popularize sustainable practices and hasten the use of sustainable materials, as well as pioneer innovative and efficient building design. Indeed, the way cities build now will determine urban sustainability—in emissions, waste production, and water use—for decades to come.
Fluxus’ commitment to sustainability is included as an example of turning measurement into action. The company leverages prefabricated construction powered by digital technology to increase efficiency relative to traditional modes of development. Along with reduced construction times, digitally driven prefab development tends to increase productivity by eliminating mid-process decision making, limit waste though factory components production, and reduce emissions in construction by up to 60%.
Established in 2018 by Michael Bloomberg, Bloomberg New Economy Forum is a community of global leaders coming together to build a sustainable and inclusive global economy.
Founded in 2013 in New York City, Fluxus is a privately held construction technology company, committed to sustainable way of building through leveraging networks of global partners and innovations in advanced building materials, smart cities and connected building technologies, industrialization and automation of construction, where measurable ESG metrics are woven into the value chain for creating new buildings.
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