Globally, the millennials are the largest-ever generation and I think about them with a great degree of optimism.
We really need this generation, which has a more enlightened view about the future of the planet and has the willingness to consider different ways of living, so that we can save the planet.
We are not on the path to net zero yet, but there has been huge growth in impact investing, even last year during the pandemic.
The opportunity is here and now, and it is huge.
It is time to adopt their way of thinking, to embrace the sharing economy, the circular economy, the 'Airbnb' sharing-rather-than-owning approach.
In the 'old' world, we used to think we had to own the manufacturing, the distribution, the buildings, the hardware, the software. But we are discovering it is much more efficient not to own all that.
This generation, particularly when they become recipients of the inter-generational wealth transfer, will invest for a purpose.
Our job is to ensure we have identified those investments, so that millennial capital can be put to work in a way that is going to create different outcomes for the planet because it is incredibly important.
If we can identify companies that will thrive in this world of tomorrow, if we can identify the patterns and trends of consumption, and the supply chains and precious metals that will benefit from the path to net zero, then we are enabling tomorrow's investors to make better investments and to put the world on the right path.
We know that institutions invest in venture capital, in private equity and in patient capital, but our challenge is: how do we make it safe, suitable and appropriate for a larger group of participants to be able to access those better investments?
That is a real technical challenge and we are hard at work on it.
This transfer of wealth is happening quickly; between now and the end of 2030, a wave of money is going to be in the hands of different decision-makers and we want to present them with the right choices to invest and to make the world a better place.
The essence of active investing is the anticipation of change and a change of value in what you're invested in.
That is our core skill. It is now being informed by an even wider and deeper pool of data and by mining that data in real time, we are making better investment decisions.
We have just carried out some research about the state of mind of the investor and 33% of respondents said they were more anxious about their future as a consequence of Covid.
A better future is not a future where you have to constantly worry about: 'Am I on track for my pension and for the life I want to live in the future?'
We are in the business of helping to guide people to make investments; helping insurers and pension funds to invest to meet their obligations in the future. That is a very important purpose.
If we can apply the spirit of humility and curiosity, build a culture round it, this is a really exciting purpose, an important thing that we are doing.
I believe we will attract the talent - the climate scientists, the decision scientists - into the business and that will change the way the business functions.
That is the great hope. For the remainder of the 2020s that is what we really have to do together.
This is a multi-generational effort and we are not going to get to net zero unless every single one of us is involved.
We have to carry that responsibility and pass something worthwhile to the next generation from our experiences and from the mistakes our generation has learned from.
Stephen Bird is CEO of abrdn