Stanford eWEAR & Sustainability Accelerator co-host "Nobel Sustainability Lecture & Networking"

Agenda
4:00 pm – 5:15 pm | Lectures, Q&A
5:15 PM – 5:45 PM | Networking

Speakers:

Peter Nobel, Member of the Board of Trustees, Nobel Sustainability Trust

Bio: Peter has a degree of Master of Science in Material Science and Engineering from the Royal Institute of Technology in Stockholm. He has an extensive track record of positioning companies for successful market share growth in various international industrial markets, such as the global HVAC industry. Peter has extensive experience with several CEOs roles in different industries and executive positions in sales and marketing, R&D and manufacturing at global companies such as Alfa Laval and SWEP International.He has significant expertise in successfully navigating long sales cycles for industrial component for various global industry sectors and implemented heat transfer products with an exponential growth resulting in world-wide and dominating market shares.Peter Nobel has also co-founded and run start-ups companies in the clean-tech sector to develop and market a compact and efficient heat cell for applications in the heating industry and developed new methods in water purification technology. He holds patents as well as international pending patent applications for water purification technology and listed patents in heat exchanger technology.Peter works actively as advisory consultant to company boards in e.g. Japan and Hong Kong.

“Uncertainty, Sustainability and AI”

Myron Scholes, Nobel Prize in Economic Sciences; The Frank E. Buck Emeritus Professor of Finance, Stanford University

Abstract: The tails of the distribution, not the middle, of the distribution of possible outcomes should be the most important concern about sustainability.   With uncertainty, tails have a compounding effect, with increasing costs of reversibility of bad climate outcomes having the most pernicious effect on global warming and society. AI applications must worry about the exceptions, not the middle of the distribution of outcomes.  Currently, concentrating on using more and more historical data creates a false sense that the average is important.  Obviously it is hard to discern the tails, the exceptions ahead from data mining history.   Carbon offsets and new technologies (such as robotics and AI) need to work together to move us forward to a sustainable future.

Bio: Myron Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black-Scholes options pricing model. Scholes was awarded the Nobel Prize in 1997 for his new method of determining the value of derivatives. Scholes is currently the Chairman of the Board of Economic Advisers of Stamos Partners. Previously he served as the Chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors Board of Directors, American Century Mutual Fund Board of Directors and the Cutwater Advisory Board. He was a principal and Limited Partner at Long-Term Capital Management, L.P. and a Managing Director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, Senior Research Fellow at the Hoover Institution, Director of the Center for Research in Security Prices, and Professor of Finance at MIT’s Sloan School of Management. Scholes earned his PhD at the University of Chicago.