Paul Tice’s Dilemma
Stern is building a new program focused on infrastructure, but it will fail if it continues on its current path.
The nascent initiative is an exciting development for Stern. Infrastructure investment will be massive in the coming decades: McKinsey estimates that $49.1 trillion will be invested between now and 2030 as developing economies grow and infrastructure in developed economies ages. Power plants and the electric grid, the largest category, make up one-third of this investment, while highways and roads, airports, rail, and telecom and water infrastructure make up the rest.
Ensuring that the correct water infrastructure is in place is fundamental, despite the fact that this is sometimes an overlooked part of the development process.…