Sustainable Development, Goldmark said, “is the paramount subject of our moment in history.” Noting dramatic studies that indicate a fundamental change in the water flows in the oceans, the prospect that the United States, China and India will choose to burn their vast quantities of coal reserves and the accelerated melting of the major Himalayan glaciers, Goldmark said that the next generation is one “to whom we will leave a lot of problems.”

Encouraging bold action, Goldmark pointed out that foundations are in position to take risks that other types of organizations cannot afford to take; and that they must overcome their history cautiously approaching some of the daunting challenges. “If you are faced with a large challenge that can change the face of your civilization and you do not react with aggressive thought, with discipline, careful thought, with pooling resources; in other words, if you are timid and cautious – that is reckless,” said Goldmark.

Goldmark went on to suggest specific initiatives that foundations are in place to facilitate. He encouraged these very unique types of organization to reach out to areas where little progress towards sustainability has been made, but is necessary. In the field of aviation, for instance there have been tremendous positive benefits to the global economy as well as helping average people to better understand those with whom they share the planet. However, the environmental implications of ever-growing jet fuel emissions needs to be tackled. With one of the world’s two largest aircraft manufacturers in Europe, the potential to work in a collaborative effort between foundations, governments and key corporations has a great deal of potential to take the first steps necessary to discover how the aviation industry might reduce its impact on the environment. Goldmark encouraged the foundations of the Bellagio Forum to reflect on their founding and the reason they exist; to understand that their mission should also extend to how they invest the endowments. Foundations, he believes, should use all of their assets to promote sustainable development. He commented, “It doesn’t matter whether you want market returns or are willing to consider something less. Both are important and both are available” in terms of responsible investment opportunities.

Moreover, foundations might also find a great deal of benefit from exploring innovative, cooperative efforts with corporations: for instance offering finance for corporate efforts to improve the sustainability of their operations. Challenging a company to, for instance, convert its vehicle fleet to bio-diesel or natural gas, while concurrently providing the financing (via a loan) to accomplish the switch, is an opportunity for all actors to better serve society and fulfil their mission.

Goldmark concluded by encouraging both members and participants at the meeting to recognize the complexity and enormity of the challenge faced, to understand that it is very much their job to meet that challenge, and not refrain from setting sites too low as to what might be accomplished through the Forum.