Reflections from my conversation with Sir Ronald Cohen, pioneering venture capitalist and co-founder of the Global Steering Group for Impact Investment

In this week’s Journey to Regeneration, I sat down with Sir Ronald Cohen, pioneering venture capitalist and co-founder of the Global Steering Group for Impact Investment, for the ambitious discussion of transforming of capitalism itself.

We explore how we’re entering the era of what Cohen calls impact capitalism—where companies are valued not only for their financial performance but for their capacity to create social and environmental good. We talk about the revolutionary potential of impact-weighted accounts, the growing push for transparency, and the emergence of standardized impact metrics that could finally hold companies accountable for their effects on people and planet. Drawing from his decades of leadership—from developing the social impact bond to advancing global impact investing— Cohen explains how these innovations are beginning to shift markets, steering capital away from harm and toward regeneration.

Highlights from the discussion:

• Why he left conventional VC: creating wealth wasn’t closing the gap between rich and poor—and that prompted a pivot.

• The social impact bond, demystified: how linking outcomes (like lower recidivism) to returns cut costs versus fee-for-service and catalyzed a new capital pool.

• The new investment lens: moving from risk–return to risk–return–impact can outperform—think category-shifting plays that win customers, talent, and valuations.

• Government as outcomes buyer: why “pay for results” can unlock private capital for public priorities at lower overall cost.

• Tech x Impact = disruption: AI (and soon quantum) will accelerate business model shifts far beyond linear climate timelines.

Listen to the full episode here:

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The regenerative business practices and sustainability innovations highlighted in this week’s Regenerative Insights directly tackle the critical issues of corporate responsibility explored in my recent book explored in my recent book, The Profiteers: How Business Privatizes Profit and Socializes Cost.