Explorez tous les épisodes du podcast SRI360 | Sustainable & Responsible Investing, Impact Investing, ESG, Socially Responsible Investing
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In Case You Missed It: Must-Hear Impact Highlights From April 2025 (#089)
04 Jun 2025
01:56:47
This spring, I had the chance to talk with four incredible guests, each with a different take on what it really means to put money to work and invest in line with your values.
Across late March and April, we explored climate-smart timber, social finance powered by dormant bank accounts, fully impact-focused wealth advising, and how catalytic capital is reaching places most firms won’t go.
Here are the featured guests, along with links to their full interviews.
Yasemin Saltuk Lamy, Head of Investment Strategy at Legal & General (L&G)
Yasemin’s path into impact investing started at J.P. Morgan, where she helped build the firm’s Social Finance unit from scratch. At the time, even defining the term “impact investing” took months of debate. “We spent four months just on the word ‘intent,’” she told me.
That focus on intent stuck with her – from J.P. Morgan to Omidyar to BII – where she helped lead the Catalyst Portfolio, growing it from $300 million to $1.6 billion. Her work was all about finding places where capital didn’t naturally flow, and designing structures that would pull others in.
Stephanie Cohn Rupp, Former CEO of Veris Wealth Partners
Veris Wealth Partners is one of the only wealth management firms out there that’s 100% impact. No ESG sideline, no separate division. The whole firm is built around aligning portfolios with values.
Another thing that stood out in my conversation with Stephanie was how methodical their process is. It starts with what they call “impact discovery” – getting into the client’s mission, history, beliefs – and then building an investment policy around that.
Stephen Muers, Chief Executive Officer of Better Society Capital (BSC)
Stephen brings a systems lens to social finance, and that comes from experience. After years inside the UK government tackling big issues like energy policy, housing, and justice reform, he saw firsthand how strategy alone doesn’t shift systems.
At BSC, the mission isn’t just to make good investments. It’s to make social investment possible at scale.
But BSC isn’t trying to maximize its own portfolio. The goal is to grow the entire social investment market. Over the past decade, they’ve helped expand it twelve-fold across the UK. And yet, it still isn’t enough. The capital’s growing – but not at the pace the problems demand.
Bettina von Hagen, Managing Director & CEO, EFM Investments & Advisory
At EFM, forests are managed as long-term, living assets. It’s not just about timber – it’s about carbon, conservation, and communities, all managed through a single strategy. The question isn’t “how much can we harvest,” but “what’s the best outcome for this acre?”
EFM’s approach is built on the five Rs: rotation, retention, reserves, restoration, and relationships. It’s how they manage over 200,000 acres with just 11 staff and 90 contractors – by treating each forest like a custom portfolio.
Sometimes that means harvesting. Sometimes it means carbon storage or tribal access. The goal is a forest that’s more valuable ecologically, socially, and financially than it was before.
Impact Update: What’s Working, What’s Not, and What’s Next with Eric Rice (#088)
28 May 2025
00:57:47
My guest today is Eric Rice – back for his second appearance on the podcast.
When we first spoke, he was running one of the only public equity funds in the impact space available to retail investors. Now, that fund has been shut down, the capital returned, and Eric has moved to private equity – specifically, to SEAF, an investor in emerging market SMEs.
This time, we talked about what happened, why it happened, and what it says about the current state of impact.
Eric’s core thesis hasn’t changed. The theory of change he developed at Wellington and BlackRock was simple: invest in companies doing socially useful work – even if they don’t realize it yet – and help them grow into that identity.
This was never ESG, and Eric is clear on the difference. ESG, he says, is about how a company operates. Impact is about what it does. “We weren’t ESG investors by any means. We were thematic investors – we only invested in companies solving social or environmental problems.”
That distinction got lost. Once the political backlash against ESG took hold, especially in the U.S., nuance didn’t matter.
Texas and a group of red states targeted a handful of BlackRock funds they deemed “too woke” to qualify for state investment. Among the six funds flagged, three were ones Eric had led. The result was that legitimate impact strategies became collateral damage in a culture war that had little to do with what those funds were actually doing.
As Eric puts it, they were “a different animal from the beginning”, but their message got hijacked.
After that, the pivot to private markets wasn’t just strategic – it was necessary.
At SEAF (Small Enterprise Assistance Funds), Eric is focused on small enterprises in emerging Europe, particularly in agriculture and food. Why? Because productivity in that sector is 40% of Western Europe’s – and no one has modernized it.
Eric and I talked about the limits of measurement frameworks, the role of trust in evaluating managers, and why so many funds labeled “impact” aren’t actually doing anything different.
This conversation is about what happens when a theory of change collides with political reality. It’s about staying true to the work in an industry that often prioritizes marketing. And it’s about the shift from public markets to private ones – not because it’s easier, but because it offers more clarity, more control, and maybe even more impact.
Inside the First Impact-Only Wealth Management Firm: Veris Walks The Impact Talk | Stephanie Cohn Rupp (#079)
25 Mar 2025
01:26:14
My guest today is Stephanie Cohn Rupp, Chief Executive Officer of Veris Wealth Partners — one of the first impact-only wealth management firms in the world, and one of the rare few that has been majority women-owned or led since day one.
Stephanie was born in the U.S. and raised just outside Paris by parents who did medical missions in underserved communities. She learned early on that work should serve a bigger purpose.
That belief shaped her path — from microfinance in Central Asia to leadership roles at the Omidyar Network, Toniic, and Threshold Group.
But what she really wanted was a firm fully aligned with her mission — a place where impact wasn’t just a side offering but the whole point.
That’s exactly what she found at Veris. They weren’t just any firm – Veris was one of the first impact-only wealth management firms in the world. Majority women-led, deeply mission-driven, and at the time – looking for their next CEO.
It was a perfect match!
Stephanie stepped in, and today, she leads a team managing $2.3 billion in assets, all dedicated to an ambitious goal – to create a more sustainable, equitable, and just world.
Veris focuses on four core impact themes: climate solutions, sustainable agriculture, racial and gender equity, and community wealth building. They use a holistic approach, integrating environmental, social, and governance factors across all asset classes.
Unlike most firms, Veris doesn’t just offer impact investing – it operates as an impact investment itself. They hold themselves to the same standards on diversity, equity, climate, and inclusion that they expect from the investments they make.
It’s not always easy with the current political backlash against ESG in the USA and climate denial still making headlines.
Yet despite these headwinds, Stephanie has no dilemma - impact investing is here to stay. Because climate challenges, inequality, and injustice aren’t going anywhere. And will eventually affect us all.
So tune in and let Stephanie show you that impatience for change is actually the best growth engine around.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Catalytic Capital Transforming “Risky” to “Investment Grade” Impact | Yasemin Saltuk Lamy (#078)
19 Mar 2025
01:14:54
My guest today is Yasemin Saltuk Lamy, Head of Investment Strategy at Legal & General (L&G), a London-based multinational financial services and asset management company. And believe it or not, her investment journey started when she was only 18.
Back then, she had been dreaming of studying in Senegal to experience a French-speaking African economy. But then, the University of Pennsylvania’s study abroad office made her an offer she couldn’t ignore: a $12,000 scholarship to study in Scotland.
For most students, that would have been a no-brainer – they would have spent it on books, rent, or maybe a bit of travel… But Yasemin saw it as an investment opportunity.
She did the math, figured she could live on $6,000, and put the rest into high-growth equities. It was 1998, the height of the dot-com boom. Her investment skyrocketed – until the bubble burst. Long story short, it took nearly a decade just to break even.
It was a tough experience at such a young age, but a powerful one. Watching markets rise and fall, she realized she wanted to understand the bigger picture – how economies impact people’s lives.
And she had a strong background for that. Born in Istanbul, Turkey, Yasemin grew up between two worlds. After a military coup d'état, her parents moved the family to the U.S., settling in Rhode Island.
Every summer, she returned to Turkey, experiencing firsthand the stark economic contrasts between her two homes. In the U.S., she valued independence and opportunity. In Turkey, she saw the power of family networks and community-driven economies.
But it wasn’t until she moved back to Turkey as an adult that she truly felt the financial instability of inflation. She then abandoned her plan to pursue a Ph.D. in pure mathematics and instead studied financial mathematics at King’s College London.
After starting out as a high school math teacher, Yasemin moved into finance, bringing with her a strong focus on leadership and impact. At J.P. Morgan, she helped launch the Social Finance Team, and later at British International Investment, she led the Catalyst Portfolio – using catalytic capital to de-risk investments and crowd in private capital for emerging markets and climate projects.
Now at Legal & General, she’s focused on bridging institutional capital with sustainable investments.
She’s using her experience with catalytic capital to make high-impact projects – especially in climate resilience and infrastructure – less risky and more attractive to traditional investors like pension funds and insurers.
In this interview, Yasemin breaks down how catalytic capital is transforming impact investing and why pension funds have a duty to invest in the right things to protect long-term asset value.
The future of finance isn’t just about returns – it’s about reshaping the system to work for people and the planet. Tune in to hear how Yasemin is making it happen.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
A $100 Trillion Opportunity: Empowering Entrepreneurial Households in the 'Unseen Middle' in India | Jyotsna Krishnan, EPIC World (#077)
11 Mar 2025
01:10:20
My guest today is Jyotsna Krishnan, the CEO and Co-Founder of EPIC World focused on empowering what she has termed "the unseen middle." Jyotsna leads initiatives to change the financial systems for entrepreneurial households in India, creating replicable models for other regions that share similar market dynamics, like Latin America.
She recognized great potential in a segment that comprises 247 million households. According to EPIC World's estimates, there is a $100 trillion opportunity over the next 20 years to serve Indian entrepreneurial households and harness their economic vibrancy.
Educated at top institutions, Jyotsna Krishnan honed her financial expertise at HSBC but felt limited in impact. To drive real change, she joined Elevar Equity to support entrepreneurial households directly.
(Sandeep Farias, founder and managing partner of Elevar Equity was my guest in one of the previous episodes. Listen in to learn more.)
Often overlooked as the "bottom of the pyramid," these households were in fact dynamic risk-takers, problem-solvers, and creators of multiple income streams during the COVID-19 pandemic. However, despite their economic potential, they lacked access to quality healthcare, education, financing, and business services, mainly because businesses didn’t figure out how to serve them effectively.
That’s when EPIC World was born.
Founded by partners from Elevar Equity and a co-founder skilled in deep tech and data, it acts as a scaling engine. It bridges the gap between businesses, investors, and entrepreneurial households by offering deep market intelligence, real-time data, and aligned capital strategies. Their goal is to help 50 companies scale up to become blue-chip firms that serve these entrepreneurial households, recognized as key drivers of India’s growth.
And the numbers showing the market's potential are staggering: Entrepreneurial households in India alone contributed $8.8 trillion in transaction volume in 2023, and this figure rose to $10 trillion in 2024, with the potential to grow tenfold over the next 20 years.
Tune in for this interview with Jyotsna to learn more about the palpable change she's making and how inclusive economic practices can genuinely uplift entire communities, creating new leaders from those who were once misunderstood, undervalued, and overlooked.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing.
IIX Orange Bonds Lifting MILLIONS of Women in Asia & Africa! | Robert Kraybill (#076)
04 Mar 2025
01:14:25
Robert Kraybill is a well-known name in the impact investment space who has created innovative financial products that channel capital into improving livelihoods across emerging markets, particularly in South and Southeast Asia.
But his journey didn’t start there.
Robert’s first big career move was at Morgan Stanley. Fresh out of Princeton, he was ready to take on the world of investment banking. But before he even made it to his orientation session, he met Durreen Shahnaz – the woman who would later become his wife and, more importantly for this story, the founder of Impact Investment Exchange (IIX) and a global leader in social impact investing.
Starting as a banker at Morgan Stanley, Robert later led investment banking for Wasserstein Perella & Co. in Singapore and then transitioned to private equity at Marathon Asset Management, focusing on the Asia-Pacific region.
Then came 2008. The financial crisis hit, and Robert saw firsthand that it "exposed the hollow promise of traditional finance’s claim to make the world better through efficient capital allocation."
He knew there had to be a better way. So, he pivoted – to impact investing.
Fast forward to today, and he’s Chief Investment Officer at IIX, a Singapore-based enterprise that helps mission-driven businesses grow and scale their positive impact. In their words, they “build pathways to connect backstreets of underserved communities to the Wall Streets of the world”.
Alongside his wife, he is transforming financial systems and developing innovative solutions that drive women’s empowerment, climate action, and community resilience. Through IIX and the IIX Foundation, their work has mobilized over $250 million in private-sector investment and positively impacted more than 100 million people worldwide.
His team pioneered the Women’s Livelihood Bond (WLB) series, a first-of-its-kind financial product that channels investment into women-focused enterprises across emerging markets.
But they didn’t stop there. After proving the success of the Women’s Livelihood Bonds, they created Orange Bonds – an investment framework designed to standardize and scale gender-lens investing, just like Green Bonds did for climate finance.
In this episode, Robert takes us through the evolution of the WLB Series and the birth of Orange Bonds.
He also explains the mechanics of blended finance – where catalytic capital de-risks investments to attract large-scale institutional funding. We also talk about IIX’s Values Impact Measurement Tool, their Risk-Return-Impact philosophy, and their ambitious goal: creating one billion sustainable livelihoods by 2030.
Join us to discover why the future of impact investing isn’t just green – it’s turning orange.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
The Next Evolution of Wealth Management: Jed Emerson on Purpose, Capital, and Delivering Impact (#075)
19 Feb 2025
01:26:24
Today, I'm thrilled to welcome back Jed Emerson, our first-ever repeat guest on the show.
Jed is a true impact pioneer and has spent decades thinking about and exploring how to create impact and value that is in alignment with who you are – your values, your goals, and your purpose.
Jed's impact journey began in the gritty Tenderloin district of San Francisco, California, where he founded a homeless youth center at the height of the AIDS epidemic. This experience led to his dissatisfaction with the nonprofit sector, where funding was too often hinged on politics, persuasion, and perception rather than on real performance.
He wanted to rewrite that script.
By a stroke of serendipity, Jed crossed paths with George Roberts – the “R” in the renowned global investment firm Kohlberg Kravis Roberts (KKR). Roberts was searching for a way to do good with his wealth that didn’t feel empty or disconnected from his business roots.
Together, they launched an experimental private equity fund where he learned firsthand that social progress and financial savvy don't have to sit at opposite ends of the table. They can be integrated into what Jed later called “blended value.”
Fast forward to the present, and Jed is now the Chief Impact Officer at AlTi Tiedemann Global, which is a global wealth management firm, guiding next-generation family members who are questioning the purpose of their inherited wealth.
But don’t be fooled into thinking this is a victory lap story. Jed remains as restless and inquisitive as ever, living by his five-year cycles of asking (and answering) life’s biggest questions about capital, community, and our collective future.
And if you need any proof that Jed is never short on surprises, his book, ‘The Purpose of Capital’ inspired a music video. Yes, you read that right: a music video about impact investing.
Jed discusses impact investing’s key challenge: ensuring tangible outcomes aren't lost to good intentions and slick marketing. He explains why every investment carries an undeniable social and environmental footprint.
If you're ready to rethink the purpose of wealth and capital, join us to hear Jed's mix of pragmatic investing and ethical commitment to improving our world.
His story will remind you that success isn’t just about returns. It’s about finding new questions worth asking time after time.
It's NOT ESG – It's Value Enhancement: Private Equity Giant General Atlantic on Sustainability as a Pillar for Growth (#074)
12 Feb 2025
01:37:09
Today, I'm talking with Cornelia Gomez, Global Head of Sustainability at General Atlantic. Cornelia is a leader who has uniquely merged corporate social responsibility with real-world business practices.
Born and raised in Paris, Cornelia's culturally vibrant yet traditional family shaped her strong sense of justice and commitment to ethical business practices.
Starting her corporate journey at Group Casino, in Hong Kong, Cornelia took the lead on improving supply chain sustainability across Asia. Her work involved conducting audits, implementing system changes, and ensuring compliance with labor and environmental standards. She pushed for stronger accountability and higher sustainability benchmarks, driving meaningful change in an industry resistant to transformation.
Now at General Atlantic, Cornelia oversees ESG integration across the firm’s portfolio, spanning over 330 companies across 20+ countries. Under Cornelia’s leadership, sustainability has become a core pillar of the firm’s investment approach.
GA doesn’t see ESG as a checkbox exercise. Instead, they have developed a unique "value creation" framework based on three key triggers: revenue growth, cost efficiency, and risk mitigation. This approach ensures that sustainability initiatives are directly linked to financial performance, helping businesses grow while making a positive impact.
In this interview, Cornelia talks about the evolution of ESG and sustainability in private equity investing – from compliance-driven checklists to deeply integrated strategies that influence corporate governance and competitive advantage.
Tune in to learn more about GA’s pragmatic, data-driven approach to sustainability and how they integrate ESG principles to drive real-world value while ensuring long-term business growth.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Sir Ronald Cohen is Leading a Revolution: Valuing Impact for the $40 Trillion ESG Industry (#073)
05 Feb 2025
01:22:26
My guest today is Sir Ronald Cohen, often referred to as "the father of British venture capital" and "the father of impact investing."
As Co-founder and President of GSG Impact, Sir Ronald is leading a revolution to transform how the financial world measures and reports a company's value by including its net impact on people and our planet.
Early in his career, he co-founded Apax Partners, one of the oldest and largest international private equity firms. His ability to anticipate market shifts – a principle which he calls “the second bounce of the ball” – was key to his success.
However, he saw his financial success was also increasing inequality, prompting him to create new tools like the Social Impact Bond, which ties investor returns to measurable social benefits.
Through his latest initiative, the International Foundation for Valuing Impact (IFVI), Sir Ronald has established rules to standardize impact valuation in financial terms, akin to how GAAP standardizes financial disclosures for US publicly traded companies.
IFVI is working to establish a global framework that quantifies social and environmental impact in monetary terms. The foundation provides open-source data, methodologies, and valuation metrics to ensure transparency and consistency in impact measurement across industries.
IFVI is already gaining traction among major financial institutions, corporations, and regulators. By integrating impact into core business and investment strategies, IFVI aims to reshape markets – ensuring that companies reducing carbon emissions, improving labor conditions, and fostering social equity are rewarded not just ethically, but financially.
This marks a fundamental shift in capitalism, one that aligns profit with purpose and empowers investors to accelerate the transition toward a more sustainable and equitable global economy.
With over $40 trillion invested in ESG and impact funds today, he believes we are on the brink of a financial revolution – one where companies are no longer valued solely by net income as we do today but by the total financial value that their operations contribute to people and our planet.
Tune in and meet the true visionary of impact investing!
Elevar’s Bold Bet on 50 Million Entrepreneurial Households as Growth Engines in Emerging Markets (#072)
29 Jan 2025
01:27:08
In this episode, I speak with Sandeep Farias, Founder and Managing Partner of Elevar Equity. If I wanted to describe Sandeep in one sentence, I'd probably say he’s a nomadic child of India’s landscapes who became an impact investing titan.
His early life was shaped by his father’s multiple assignments in the State Bank of India. From spending time in the mountains of Mount Abu to the chaos of Bangalore, he found a unique perspective on adaptability and resilience.
In our conversation, Sandeep openly talks about the beginnings of his career, where he went from fixing bicycles to working in a garment factory. These early hands-on experiences, together with his academic journey in law, uniquely prepared him for a not-so-conventional path.
Sandeep graduated from the prestigious National Law School of India University in Bangalore and started a legal career with stints at top Indian law firms. His rapid ascent in the legal world led him to Nishith Desai Associates, where he led the corporate law practice – a pretty meteoric rise for someone just four years out of law school. This position smoothly transitioned him into impact investing.
During the 2008 financial crisis, Sandeep took a monumental leap, leaving behind a promising legal career to start Elevar Equity with a clear-cut mission: to drive change and profits by investing in communities often ignored by traditional finance.
Unlike many in the space, Elevar focuses not on the bottom of the pyramid but on a segment that has progressed economically yet remains underserved. This strategic pivot places Elevar in a league distinct from microfinance entities like BlueOrchard and ResponsAbility (featured in previous episodes of the podcast). Elevar is not debt-focused. Instead, it opts to provide equity to these emerging communities.
Over the past 15 years, Elevar has expanded beyond microfinance into broader financial services, education, and healthcare, scaled over 50 companies, and supported more than 50 million 'entrepreneurial households'.
Tune in to hear how Elevar’s targeted focus on underbanked yet economically progressing communities has reshaped impact investing, distinguishing its approach from both mainstream venture capital and typical microfinance institutions.
Scaling Success for the Underserved: Temasek's Eliza Foo on Impact Investing in Asia and Beyond (#071)
22 Jan 2025
01:20:46
Impact investing in emerging markets has been viewed as a high-risk proposition fraught with challenges. But my guest today sees these challenges as opportunities for innovation, identifying and investing in solutions that address critical social and environmental needs while building a resilient portfolio with competitive returns.
Eliza Foo is a leader in sustainability and impact investing at Temasek, one of the world’s most respected global investment firms, with a portfolio value of USD $288 billion. Temasek operates across public and private markets, investing from its own balance sheet, which allows for great flexibility in pursuing opportunities across asset classes, geographies, and sectors.
Eliza’s journey to becoming a leader in impact investing is inspiring and unique. From a young age, she excelled in academics, earning scholarships that took her to the Australian National University. She graduated as a valedictorian with a Bachelor of Commerce and later pursued a Master’s in Applied Finance at the University of Melbourne.
Eliza has built an extraordinary career in finance, starting with prestigious roles at Goldman Sachs and Merrill Lynch. She later transitioned to impact investing - a field she has helped shape over the past decade.
Eliza leads the Impact Investing team at Temasek, which plays a key role in achieving Temasek’s mission of creating lasting value for this and future generations. Under her guidance, Temasek has spearheaded innovative investments in emerging markets, working to close gaps in financial inclusion, healthcare, agriculture, and climate.
Her vision for impact investing combines financial rigor with measurable societal and environmental outcomes. You’ll hear about her team’s focus on linking impact metrics to financial KPIs to ensure growth and positive benefits are intrinsically connected.
We also touch on Temasek’s partnerships with organizations like LeapFrog Investments and ABC Impact, which enable them to amplify their reach and scalability in creating innovative solutions across the globe.
Let’s dive in!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
The Women-Led VC Fund Making Healthcare Profitable, Accessible & Scalable | Tara Bishop, Black Opal Ventures (#070)
14 Jan 2025
01:56:12
When you think about healthcare innovation, the image of cutting-edge technologies, AI-driven diagnostics, and robotic breakthroughs might come to mind. But is there a way to use these innovations to address the system's biggest challenges – cost, quality, access, and sustainability?
My guest today is Dr. Tara Bishop who is the founder and managing director of Black Opal Ventures, and she is uniquely positioned to answer this question.
As a fourth-generation physician turned venture capitalist, Tara teamed up with deep-tech veteran Eileen Tanghal to create a fund focused on bridging healthcare and technology. Together, they bring decades of expertise in medicine, policy, startups, and deep tech to build a brilliant tomorrow in healthcare.
Black Opal’s mission is to uncover and support the rarest gems in healthcare innovation – companies that redefine care delivery, improve access, and make a measurable impact while delivering competitive returns.
With $63M under management and a portfolio spanning robotic IVF, wearable AI diagnostics, and next-gen obesity care platforms, Black Opal proves that you don’t have to choose between impact and profitability.
In this interview, Tara talks about inefficiencies in the healthcare system and how they inspired her to dive into healthcare innovation. She also shares her investment strategy and explains how Black Opal balances impact and profitability.
Curious to learn more about how venture capital is turning the biggest healthcare challenges into opportunities to drive meaningful change and financial returns? Tune in to hear how this unique fund is bridging technology and medical expertise to deliver smarter, more accessible, and impactful solutions.
Let’s dive in!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Community Investing Myth Busters: Four Investors Who Go Where Banks Won’t (#087)
21 May 2025
02:18:15
This 4-in-1 compilation episode is about capital that doesn’t flow on its own. It has to be pushed into places with no pitch decks and no polished management teams. The places where spreadsheets say “too risky,” but the need is obvious to anyone paying attention.
This is capital for the common good, yes – but it’s also capital that works. These aren’t grants. These are investments with measurable returns and track records to prove it.
In this episode, we revisit conversations with four guests who've built the policies and portfolios to make this kind of capital move.
Jenn Pryce, President and CEO of Calvert Impact Capital
Jenn describes Calvert Impact Capital as a bridge between retail capital and the places banks won’t go – solar in Sub-Saharan Africa, affordable housing in the U.S., even sovereign bonds too small for Wall Street to care about. With over $2.5 billion raised, their flagship Community Investment Note is accessible for as little as $20.
For Jenn, community investing isn’t about beating the market – it’s about redefining it. “We’ve learned the risk isn’t where people think it is,” she says. By working through local intermediaries and building data-driven track records, Calvert helps prove what’s possible.
Ben Rick, Co-Founder of Social and Sustainable Capital (SASC)
Ben left the City not because he couldn’t succeed there – but because he did. After years at Goldman, UBS, and Lehman, the returns stopped justifying the worldview. “Surely there’s something I can do that’s better than this,” he told himself.
That became Social and Sustainable Capital, a private credit fund lending to UK charities – no shareholders, no profit motive, but plenty of contracts to deliver critical services.
SASC backs groups supporting domestic abuse survivors, people with disabilities, and youth exiting care – organizations with steady revenue but little access to traditional finance.
Stephen Muers, Chief Executive Officer of Better Society Capital (BSC)
Stephen Muers came to Better Society Capital after a high-level government career – and brought with him a systems brain. At BSC, the mission isn’t just to make good investments. It’s to make social investment possible at scale.
BSC operates at the wholesale level, backing funds that then invest in frontline charities, social enterprises, and mission-driven lenders.
BSC is also focused on market transformation. In 10 years, they’ve helped grow the UK social investment market 12-fold. And yet, it still isn’t enough.
Stewart Langdon, Partner and Co-Head of South Asian Investments at LeapFrog Investments
Stewart joined LeapFrog early, back when the firm was still raising its first fund. He came in to help move serious capital into places most investors overlook – India, Sub-Saharan Africa, Southeast Asia – and do it in a way that actually reaches people.
LeapFrog started with insurance. Not because it was easy, but because it mattered. Health shocks, accidents, lost assets – these were the things pulling families back into poverty. Then came credit. Then healthcare. Same model each time: back companies already trusted in their communities, and help them grow.
Cracking the Code of Circular Economy: 3 Innovators Redefining Waste into Resources and Revenues (#069)
08 Jan 2025
01:51:07
In this 3-in-1 compilation episode, we're revisiting the world of the circular economy. As our planet faces escalating environmental challenges, these three pioneers are lighting the way for sustainable business practices that promote ecological resilience and economic prosperity. These are the innovators whose approaches are making a real difference:
Ron Gonen, Founder and CEO of Closed Loop Partners
Ron shares how his firm is making a real impact across sectors like consumer goods, food, and technology. By tackling supply chain bottlenecks, building recycling infrastructure, and leading projects like the $150 million bottle-to-bottle recycling facility in California, Closed Loop Partners is driving meaningful change. Their efforts have diverted 2.3 million tons of waste from landfills and prevented 5.3 million tons of greenhouse gas emissions. Ron’s work shows that aligning environmental goals with strong economic outcomes isn’t just achievable – it’s the way forward.
Lucy is intensely focused on advancing technologies that address material circularity, especially aimed at reducing plastic waste. Through Archipelago Ventures, Lucy is driving strategic investments into startups that are leading the way in recycling and reducing environmental footprints. This effort is fast-tracking our transition to a circular economy, showing that it's absolutely possible to combine strong environmental improvements with solid economic returns.
Karla Mora, Founder and Managing Partner, Alante Capital
Karla is driving transformation in the apparel industry, a massive $3 trillion market primed for innovation. Through Alante Capital, she invests in startups that lead the way in circular and low-carbon solutions. Her strategic focus is reshaping how clothing is produced and consumed, offering a blueprint for sustainable practices in other consumer industries as well. Karla's journey into this space was driven by her ambition to effect systemic change within such a significant economic sector.
As we step into a new year, it’s the perfect time to reflect on the choices we make and remind ourselves how sustainable and responsible investing became significant in the first place. We’ll explore why so many investors now see it as a future-proof investment trend and why more are considering the broader impact their portfolio returns have on others.
This episode is designed to do just that, featuring three chapters from the audiobook version of Sustainable and Responsible Investing 360: Lessons Learned from World-Class Investors. It’s an opportunity to revisit the foundational "why" behind sustainable investing – not as just a trend, but as a necessary shift in how we think about finance and its role in the world.
These chapters are narrated by the talented veteran actor Graham Rowat. The book is designed to be easy to navigate – you can read it from cover to cover or jump to specific topics that interest you.
The book begins with an overview of sustainable and responsible investing – its challenges, opportunities, and importance – before transitioning to interviews with 26 professional investors who have broken new ground in responsible investment
At the start of this new year, I wanted to share these three chapters as a chance to reflect on what truly matters. My hope is that they inspire you to think differently about your financial decisions and their potential to align with a more sustainable future.
If you are interested in checking out the rest of the audiobook, which is produced and copyrighted by Ascent Audio, you can find it on Audible, Apple, Google, Spotify, or wherever you find your favorite audiobooks.
Please enjoy… and thank you for listening.
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The SRI 360° Podcast is focused exclusively on sustainable & responsible investing.
4 Changemakers Leveraging Capital to Bridge Profit, Social Justice, and Environmental Impact (#067)
27 Dec 2024
02:04:51
In this 4-in-1 compilation episode, I’ve brought together the compelling stories of four changemakers who are rethinking how we use capital to create measurable social and environmental impact. Each of these guests takes a unique approach to closing the gap between profit and purpose, showing how financial tools and innovative strategies are driving true systemic transformation.
Here are the featured guests:
Ed Marcum, Managing Partner, Working Capital Fund
Ed unpacks how his team is tackling systemic labor exploitation in global supply chains. By channeling investments into advanced tools like AI mapping and transparency technologies, he paints a picture of how these innovations are making accountability not just possible, but scalable – forcing companies to rethink their approach to labor conditions.
Andrew is a leader in shareholder advocacy. He emphasizes a collaborative approach – engaging with companies to reduce material risks in areas like climate change, diversity, and equity – rather than resorting to hostile tactics. This approach not only strengthens financial performance but also cuts systemic risks – creating wins for stakeholders at every level.
Adam breaks down how social impact bonds are redefining solutions for some of society's toughest challenges. He shares how these unique financial tools bring together governments, investors, and social organizations to tackle pressing issues like homelessness and criminal justice reform. By tying financial returns to measurable outcomes, they ensure accountability and create a ripple effect of lasting impact.
Paul Miller, Managing Partner and CEO at Bethnal Green Ventures
Paul focuses on identifying founders who combine tech innovation with a mission to create real impact. He’s laser-focused on backing startups that merge sustainability with scalable business models. By investing in these early-stage companies, he’s helping to drive solutions that tackle global environmental and social challenges head-on while paving the way for high-growth opportunities that have the potential to reshape entire industries.
Ed Marcum - Mission to combat labor exploitation (03:35)
AI and tech transforming supply chains (14:53)
Investment process and impact measuring (19:50)
Andrew Behar’s journey to shareholder advocacy (34:01)
Challenges and opportunities in shareholder advocacy (47:16)
From greenwashing to greenhushing: Corporate response trends (58:23)
Adam Swersky - the social impact bond model (01:03:13)
The success story of Peterborough prison (01:18:34)
Mental health and employment partnership initiatives (01:28:24)
Paul Miller - origins of Bethnal Green Ventures (01:33:33)
Definition of 'Tech for Good' (01:44:32)
VC’s impact potential (01:49:51)
Diversity, growth tensions, and impact-washing (01:55:26)
The Secret Behind Osmosis’ $17B Success: Using Data to Crush ESG Stereotypes for Scalable Impact | Ben Dear (#066)
19 Dec 2024
01:35:15
Last week, my guest, Ben Dear, the founder and CEO of Osmosis Investment Management, started sharing his extraordinary journey – a 17-year journey of career pivots that ultimately led him to create one of the most innovative sustainable investment funds. We paused at the pivotal moment when he founded Osmosis, which now manages over $17 billion in assets.
Today, we’re continuing the Osmosis story and diving into the groundbreaking strategies behind its success.
Ben explains how his team developed a systematic, data-driven approach to investing, using their resource efficiency factor to measure carbon, water, and waste management as predictors of company returns. This method allows Osmosis to build portfolios that consistently outperform benchmarks while significantly reducing environmental footprints.
We also talk about ESG data – what’s broken, why it matters, and how Osmosis collects, cleans, and standardizes its own data to ensure accountability. Ben unpacks the nuances of portfolio construction, balancing risk and reward, and shares how they’ve managed to cater to global institutional clients while staying laser-focused on their mission: delivering returns that are both financial and environmental.
If you still doubt that sustainability can drive profitability – or that a boutique firm can achieve explosive growth while redefining public equity investing – this episode is a must-listen.
Let’s pick up where we left off!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
No Quick Wins, No Shortcuts: The Grit That Took Ben Dear from Zero to $17bn – A Real-Life Sustainable Fund Raising Odyssey (#065)
12 Dec 2024
01:29:30
Today, I’m joined by Ben Dear, founder and CEO of Osmosis Investment Management, and this is the first part of a story that is anything but ordinary.
It's a true odyssey that began in a small town in England, passed through many entrepreneurial experiments, and ultimately led him to found Osmosis – a $17 billion sustainable investment fund.
But Ben’s journey was far from an overnight success. He faced academic struggles, tried his hand at various careers – including managing a Jamaican restaurant and building a software testing company he later sold for millions – and learned important lessons about taking risks and building trust in business.
A pivotal moment in Ben’s life came when he watched ‘An Inconvenient Truth,’ which inspired him to align his career with sustainability and create Osmosis based on values and integrity. It combines investment strategies with a focus on environmental impact, using a rare systematic approach that has driven remarkable growth and success with solutions like green indices and ETFs.
In this first part of the interview, Ben openly talks about the highs and lows of his journey, how he overcame early obstacles, and what it took to convince initial investors to believe in his vision.
Tune in for this inspiring conversation about what it really takes to build something impactful from scratch.
P.S. Don't forget to join us next week as we dive into the second chapter of this story. We'll talk about how Osmosis is revolutionizing sustainable investing, share the strategies driving its success, and explore why it's become a leader in aligning finance with environmental values.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Intro (00:00) Ben’s background, early life, and education (03:55) Learning from entrepreneurial ventures (23:27) Building, scaling, and selling a software testing business (41:24) 'An Inconvenient Truth' epiphany and transition to sustainable investing (50:34) Various investment strategies employed by original Osmosis (01:08:14) Raising capital activities (01:14:38) Stop selling, start listening to investors (01:20:30)
Essential Yet Undervalued: Helen Avery on GFI's Mission to Crowd-In Natural Capital Investment (#064)
03 Dec 2024
01:11:49
Biodiversity loss isn’t just an environmental issue – it’s a financial opportunity hiding in plain sight. But here’s the thing: while it’s just as important as tackling carbon emissions, natural capital is still flying under the radar for most businesses and investors.
That’s where today’s guest, Helen Avery, comes in. Helen is the Director of Nature Programs at the Green Finance Institute (GFI), and she’s on a mission to flip the script. Working at the crossroads of finance and nature, she is helping break down the barriers that are keeping private investment from flowing into biodiversity and sustainable landscapes.
Helen makes a compelling case: ignoring natural capital isn’t just bad for the planet – it’s bad business. She’s helping companies rethink the way they operate, from creating financial tools like carbon credits to embedding biodiversity right into their business models.
In this interview, Helen explains why biodiversity has been overlooked in the climate conversation and how the GFI is driving innovation to get private money moving into nature-positive projects.
We also talk about the big challenges – like scaling investments in natural capital – and why we need more leadership and collaboration to make restoring nature an economic no-brainer.
Tune in as we talk about how the finance world can drive meaningful change for our planet – and why it’s time to make that happen.
Don’t miss it!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Introduction (00:00) Helen Avery’s background, education & early career (03:40) Joining Green Finance Institute (GFI) in 2020 (15:47) GFI overview, mission, and theory of change (21:13) The value of natural capital in driving investment returns (31:18) GFI’s Nature Programs and its key focus areas (42:06) Catalyzing private investment with structured approaches (46:39) Reporting standards for nature-related risks (57:14) Rapid fire questions (01:05:27) Contact info (01:09:53)
Riding the Next Big Disruption: Tech VC Serena Betting Big on Bold Climate & Water Innovations (#063)
20 Nov 2024
01:35:46
When you think of venture capital, you might picture fast-paced deals, tech unicorns, and ambitious growth strategies. But what if it could also drive real, measurable change for the planet?
That’s exactly the vision behind Serena, whose co-founder Xavier Lorphelin joins me today. Xavier is here to explain, among other things, why the firm integrates impact considerations into every decision, moving beyond the traditional investment approach.
Serena isn’t a typical VC firm. Founded by entrepreneurs for entrepreneurs, it blends financial ambition with a mission to support innovative startups that serve a better world. With €1 billion in assets under management, Serena invests in transformative sectors like climate tech, AI, and sustainability – all while delivering impressive double-digit financial returns.
Xavier’s journey to this mission-driven approach is deeply rooted in his time in Silicon Valley. After earning his master’s degree at Stanford during the rise of the internet boom, he gained a front-row seat to the power of innovation and entrepreneurship to drive societal change.
Today, Xavier is with us to explain how Serena is aligning financial success with sustainability by introducing groundbreaking concepts like climate dividends and embracing cutting-edge technologies such as AI to address biodiversity challenges. In this conversation, Xavier dives into Serena’s investment process, the evolution of impact investing, and the powerful business case for sustainability.
Tune in to learn how venture capital is being transformed into a force for good – and why it might just be the key to tackling our planet’s biggest challenges.
Don’t miss it!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Intro (00:00) Xavier Lorphelin’s background and education (02:52) Silicon Valley experience (12:24) Transition back to France and career development (19:02) Founding Serena (25:48) Serena’s mission, investment focus & theory of change (33:11) Serena’s investment process (42:34) Conducting pre- and post-investment ESG assessments (59:11) Serena Squad and operating framework (01:15:38) Opportunities in Measure, Report, Verification (MRV) solutions (01:20:32) Rapid fire questions (01:28:14) Contact info (01:32:52)
In Case You Missed It: October’s Impact Leaders on Revolutionizing Microfinance & Energy Efficiency (#062)
13 Nov 2024
02:06:38
Last month I had insightful conversations with two leaders in impact investing and sustainability. The first was with Rochus Mommartz, who is the CEO of responsAbility, and the other was with Jonathan Maxwell, who is the founding partner and CEO of Sustainable Development Capital.
This episode is a special one which serves as a recap of the episodes from last month. It features a couple of key clips from each conversation in one place so you can jump around and get a feel for both the episode and the guest.
Here’s the full list of the guests featured today and the links to their full episode:
Rochus Mommartz, the CEO of responsAbility
Rochus Mommartz is a pioneer in impact investing who has spent decades creating opportunities for people in emerging markets. He played a key role in developing regulatory frameworks and microfinance models that enable financial inclusion and long-term growth for communities across Latin America, Africa, and Asia.
My interview with Rochus was so long and so compelling that I ended up splitting it into two episodes. We talked about the evolution of microfinance because Rochus was in the field and literally had a front-row seat to the evolution of this market in its earliest days. We also discussed responsAbility's strategy for managing $5 billion in investments across 70+ countries, balancing social impact with strong financial returns.
Jonathan Maxwell, founding partner and CEO of Sustainable Development Capital LLP (SDCL)
In this conversation Jonathan Maxwell presented a bold approach to climate challenges by focusing on reducing waste and maximizing efficiency. His EDGE model (Efficient and Decentralized Generation of Energy) drives resource savings across 50,000 properties worldwide. These projects support sustainability and also bring double-digit returns while cutting energy waste, showing how responsible and profitable investing can go hand in hand.
Key Takeaways: Intro (00:00) The early days of microfinance (03:10) Founding responsAbility and rising to CEO (17:02) Impact investing philosophy (25:05) ResponsAbility – overview and mission (30:24) 15+ thematic funds impacting 70+ countries (36:44) Investment process, criteria, and impact measurement (43:08) Jonathan Maxwell on sustainability (01:15:01) SDCL's mission, activities, and investment focus (01:21:21) SDCL's theory of change (01:40:39) Project portfolio & impact measurement (01:52:58)
Public Fixed Income Drives 10X More Impact Than PE, VC & Public Equities Combined! - Nuveen's Steve Liberatore Tells Us How (#061)
06 Nov 2024
01:49:45
When we think of impactful investments, public fixed income probably isn’t the first thing that comes to mind.
Yet, it’s driving far more capital into climate finance than we see in private equity, venture capital, and public equities combined. It’s not just statistics – it’s proof of the powerful impact fixed income can achieve.
To learn more about the role of fixed income in sustainable impact investing, I’m speaking with Steve Liberatore, Head of ESG and Impact for Global Fixed Income, at Nuveen, one of the world’s largest asset managers. A true pioneer, Steve has spent nearly two decades defining what sustainable bonds can achieve, crafting innovative green, blue, and nature bond frameworks that have become blueprints for the industry.
Under his leadership, Nuveen’s impact fixed income strategy is tackling some of today’s most urgent challenges through a carefully structured approach that prioritizes positive social and environmental outcomes without compromising returns.
Steve’s strategy centers on “ring-fencing” proceeds to fund projects in four critical areas: affordable housing, renewable energy and climate, community and economic development, and natural resources. His approach drives large-scale impact by lowering the cost of capital for issuers, making it more affordable to finance sustainable projects that deliver long-term value.
In this interview, Steve breaks down how Nuveen’s global ESG strategy leverages public fixed income to drive measurable impact.
Tune in for a fresh perspective on how responsible fixed income’s unmatched scale is redefining impact investing and driving real, measurable change.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Introduction (00:00) Steve Liberatore's background and education (03:15) Early work experience (17:38) Joining Nuveen and expanding its ESG & impact portfolio (31:23) Overview of green, blue, social, and orange bonds (46:36) Benefits of sustainable bonds for issuers (50:56) Theory of change for impact investing in fixed income (57:30) Performance of ESG-integrated bond funds (01:04:53) Investing in bonds: Avoiding losers over picking winners (01:11:24) Nuveen’s four thematic areas (01:22:33) Nuveen’s impact measurement process (01:26:09) Future of ESG and impact investing in fixed income (01:32:25) Rapid fire questions (01:41:34) Contact information (01:47:19)
Betting Big on Energy at the Edge: SDCL Finds Double-Digit Returns Off the Grid | Jonathan Maxwell (#060)
29 Oct 2024
01:54:11
Here's something I learned in this interview: We're wasting three-quarters of the world’s energy, half of its food, and a third of its water. That’s a crazy amount of lost resources! But what if, instead of just seeing this as an environmental problem, we saw it as a huge economic opportunity?
The truth is, we don’t need to wait for new technology, or find new resources, or produce more – we just need to use what we already have more efficiently. After all, if massive investments in renewable energy haven’t significantly reduced global emissions, and fossil fuels still dominate, maybe the real issue is how we're using our resources in the first place.
That’s the perspective my guest this week is sharing.
I’m sitting down with Jonathan Maxwell, founding partner and CEO of Sustainable Development Capital LLP (SDCL). Over the past 17 years, Jonathan has built SDCL into a leader in sustainable investing, driving projects across 50,000 properties worldwide to cut energy waste and boost efficiency.
His approach is all about EDGE investing – efficient and decentralized generation of energy – which focuses on producing energy closer to where it’s needed (since the majority of energy is lost before it even reaches consumers). This strategy not only makes energy consumption more sustainable, but it also helps clients cut costs and delivers double-digit returns for SDCL.
At SDCL, it’s not just about benefiting the environment and society – the projects have to be financially viable, too. Jonathan argues that degrowth isn’t a responsible investment strategy, insisting, “If it’s not commercial, it’s not sustainable.”
Join us as we talk about Jonathan’s journey, his investment philosophy, and how SDCL’s innovative strategies are transforming energy use, tackling climate change, and driving sustainable growth.
Tune in now!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Key Takeaways: Intro (00:00) Jonathan Maxwell's background, education, and early career (03:25) Joining HSBC and gaining international experience in investment banking (15:32) Sustainability epiphany in China and founding SDCL (21:45) SDCL's mission, activities, and investment focus (40:16) SDCL's theory of change (01:05:44) Jonathan’s book – 'The Edge' (01:18:05) Project portfolio, impact measurement, and reporting (01:21:51) Future of energy efficiency investments (01:32:18) The role of nuclear power in future energy solutions (01:39:40) Rapid fire questions (01:44:35) Connect with Jonathan (01:51:09)
Breaking the Investor Mold: Inside 4 Women-Led Funds Driving Real Impact & Real Returns (#086)
14 May 2025
01:49:30
This 4-in-1 compilation episode focuses on a persistent disconnect between capital and capability: women are founding businesses at record rates and leading high-performing funds, yet the capital rarely follows.
In other words, women are underrepresented both in receiving and managing capital.
Today’s episode is about those pushing back against that trend – women-led investment managers and those intentionally channeling capital into women-led businesses.
Here are the featured guests:
Sharon Vosmek, CEO of Astia & Managing Partner of the Astia Fund
Sharon Vosmek doesn’t see gender equity in venture as a social goal – she sees it as a market inefficiency. With just 2–3% of VC funding going to women CEOs, she argues the system consistently overlooks high-potential founders.
At Astia, she’s investing in women-led startups with strong early traction, particularly in underserved sectors like women’s health. She also challenges the informal, male-dominated networks – boardrooms, golf courses – where most deals are still made.
Dr. Tara Bishop, Founder and Managing Director of Black Opal Ventures
Tara co-founded Black Opal Ventures to invest where healthcare and technology collide – and where traditional VC often misses.
She and her partner, Eileen Tanghal, raised $63 million from institutional investors like Eli Lilly and JP Morgan, becoming one of the rare female- and minority-led funds in venture. Their portfolio reflects that identity: women-led companies, underserved markets, and problems overlooked by legacy capital.
Tammy Newmark, CEO and Managing Partner of EcoEnterprises Fund
Tammy leads EcoEnterprises Fund, a women-run investment firm focused on nature-positive businesses across Latin America. For over two decades, she’s backed companies in sustainable agriculture, ecotourism, and agroforestry – many led by women and rooted in rural or Indigenous communities.
Gender equity isn’t the fund's focus, but it runs through the portfolio: in leadership teams, supply chains, and daily operations. About half of their investments meet 2X Challenge criteria – not because it’s the mandate, but because that’s who’s doing the work.
With $150 million under management, the fund combines financial discipline with long-term environmental and social goals.
Stephanie runs Veris Wealth Partners, one of the few wealth management firms built from the ground up to do just one thing: impact. With $2.3 billion under management and offices across the U.S., Veris has been majority women-led and women-owned since its founding in 2007.
It’s built entirely around impact – certified B Corp, net zero, and intentionally conflict-free – and applies that lens across every asset class, with a deep focus on racial equity, climate, gender, and community wealth.
For Stephanie, this isn’t about doing impact. It’s about being built for it.
COP16 Special: Profitable Nature-Based Investing - 4 Leaders Paving the Way for a Greener, Sustainable Future (#059)
15 Oct 2024
01:45:33
In honor of COP16, the biodiversity 'Conference of the Parties', which begins next week in Cali, Colombia, I’ve put together a special compilation episode featuring four insightful conversations on nature-focused investment strategies. Each segment explores different approaches to nature-based investing, highlighting the diverse asset classes and strategies designed to protect and enhance natural capital. Here are the featured guests:
1. Alina Donets, Lead Portfolio Manager at Lombard Odier Investment Managers
Alina Donets manages the LO Funds-Natural Capital portfolio, which invests in publicly traded companies focused on biodiversity and the circular economy. The fund addresses issues like resource overuse and pollution while aiming for strong financial returns. In this segment, Alina discusses the importance of investing in natural capital, noting that over half of the global GDP depends on it.
2. Tammy Newmark, CEO and Managing Partner of EcoEnterprises Fund
Tammy Newmark has been a leader in impact investing for over 30 years, particularly through EcoEnterprises Fund. It is a Venture Capital fund that invests in small businesses in Latin America that preserve natural capital. In this episode, Tammy explains how EcoEnterprises integrates local communities into their investments to ensure long-term sustainability and success.
3. Charlotte Kaiser, Head of Impact Finance at BTG Pactual's Timberland Investment Group (TIG)
Charlotte Kaiser brings a wealth of experience from her leadership roles in conservation finance. At BTG Pactual's TIG, she oversees $6 billion in assets, creating real asset impact investing strategies that support biodiversity, water conservation, and climate action through timberland investments. Charlotte highlights how her team is transforming traditional timberland investing into a tool for both profit and global sustainability.
Climate Asset Management is dedicated to scaling real asset natural capital investments and recognizing biodiversity as a financial asset. Drawing on his experience at the European Investment Bank and the UN Climate Change Conference, Martin Berg highlights the urgent need for large-scale capital to support nature-based solutions to tackle the urgent climate and biodiversity crises.
Key Takeaways: Intro (00:00) Alina Donets on natural capital (03:50) The LO Funds-Natural Capital’s investment strategy and portfolio (13:21) Tammy Newmark on EcoEnterprises Fund’s type of investments (28:35) Downsides of nature-focused investment strategies (46:26) The impact washing issue (50:23) Charlotte Kaiser’s experience at The Nature Conservancy/NatureVest (51:57) Transition to BTG Pactual’s Timberland Investment Group (59:51) Sustainable forestry’s role in climate change & biodiversity (01:04:35) Martin Berg on Climate Asset Management’s mission and key strategies (01:16:16) Key risks to consider with natural capital investments (01:43:11)
Inside a $5 Billion Mission: How Private Debt & Equity Are Transforming Emerging Markets | Rochus Mommartz, responsAbility (#058)
08 Oct 2024
01:27:02
Welcome back to the second part of the interview with Rochus Mommartz, the visionary CEO of responsAbility and a true impact warrior.
With his specialized impact asset management house, Rochus is on a mission to create accessible opportunities for all, focusing on sectors that touch on the core needs of underserved populations – sustainable agriculture, climate finance, and financial inclusion.
Today, responsAbility manages $5 billion in assets, directing its investments into the private markets of emerging economies where traditional financial services are either nonexistent or insufficient. Its portfolio covers more than 70 countries in Asia, Africa, Latin America, and Eastern Europe.
In this episode, we dive deeper into responsAbility's investment strategy, which channels over 95% of its assets into private debt and private equity.
In its mission, responsAbility prioritizes impactful outcomes. But achieving attractive financial returns remains equally important. With this dual focus, they meet investor expectations and continue to generate growth and positive impacts in the sectors they serve.
Join us as Rochus explains responsAbility's investment process, the impact measurement techniques they employ, and the operational challenges they face in diverse and complex markets.
Tune in to learn more about how strategic private market investments can drive significant social and economic progress worldwide, while also delivering strong financial returns.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: ResponsAbility – overview and mission (00:00) Private market focus (debt and equity) (06:02) 15+ thematic funds impacting 70+ countries (11:47) M&G acquisition (18:12) Investment process and criteria (22:22) Three-layer approach: ESG assessment, impact assessment, technical assistance (34:46) Tracking impact post-investment (49:13) Decreasing impact as a success factor (54:16) Managing risk when companies don't achieve expected impact (57:28) Correlation between impact and financial returns (58:34) The risks in financial sector development (01:05:00) Rapid fire questions (01:14:01) How to connect with Rochus (01:25:02)
Reinventing Microfinance in Emerging Markets: From Subsidies to Sustainable Investment | Rochus Mommartz, responsAbility (#057)
02 Oct 2024
01:01:29
Rochus Mommartz has spent decades creating opportunities for people in emerging markets. Today, he's with us to share his insights and his experiences from that incredible journey.
Rochus is the CEO of responsAbility, a pioneer in impact investing that has evolved from a leader in microfinance to a prominent force in impact investing across Latin America, Africa, and Asia. It is known for its investment approach, using sustainability-based assessments that have been proven and refined over many years.
ResponsAbility has played a crucial role in building financial inclusion frameworks, helping microfinance institutions evolve into sustainable, profitable businesses that serve the underbanked.
As part of the founding team and later as CEO in 2016, Rochus has been instrumental in shaping responsAbility's success.
Few people were involved in microfinance before it even became an industry, but Rochus was pivotal in working with governments to create the frameworks that turned it into a profitable business that was financially sustainable in emerging markets. He had a front-row seat, witnessing firsthand how microfinance evolved from a charitable initiative into a sustainable, for-profit sector empowering the underbanked.
With such a wealth of experience, our conversation ended up being so packed with insights that we’ve split it into two episodes.
In this first part, we talk about Rochus' journey in impact investing, in microfinance, and the development of microfinance regulatory frameworks in emerging markets. He explains how creating opportunities for underserved populations through responsible investments can drive sustainable change.
In the next episode, we'll dive even deeper into responsAbility's expansion beyond financial inclusion, and how the firm has managed billions in assets to drive lasting impact in sustainable agriculture and climate finance.
Tune in today, and don’t miss the next episode – I promise it’ll be worth it!
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Rochus Mommartz's background (00:00) Education – “Rochus wins the lottery!” (06:12) The early days of microfinance and the challenge of sustainability (12:07) Importance of regulatory frameworks for microfinance institutions (17:48) Founding responsAbility and rising to CEO (28:18) Impact investing philosophy (41:42) Response + Ability = responsAbility (46:44) ResponsAbility’s theory of change and the problems it solves (48:14) Three key impact investment themes (51:25) Addressing the ESG backlash and its difference from impact investing (53:44) The themes driving future impact (59:02)
Africa’s Great Doubling: How Vital Capital Seizes PE Profits & Purpose in Overlooked Opportunities Providing Essential Services (#056)
19 Sep 2024
02:02:13
Today, I'm speaking with Nimrod Gerber, Managing Partner of Vital Capital, a private equity firm that is redefining impact investing in emerging markets, particularly in Sub-Saharan Africa.
Vital Capital focuses on providing essential services such as healthcare, food production, water, and sustainable infrastructure, often through "overlooked opportunities" – greenfield projects that carry higher risks but also promise financial returns and deliver meaningful societal impact.
With over $400 million assets under management, Vital Capital has made a significant impact, improving the lives of more than 22 million people by providing first-time access to critical resources like clean water and healthcare. Their investments have also created nearly 65,000 jobs and supported over 50,000 smallholder farmers.
In addition to Africa, Vital Capital has extended its reach to other emerging markets, including India, where they’ve focused on rural water access projects serving millions, and Latin America, bringing their expertise to diverse regions with complex challenges.
Nimrod’s journey from managing agricultural projects in Israel to becoming a leader in global impact investing spans two decades and over 28 countries. His hands-on experience enables him to navigate challenging greenfield investments that many others might pass up.
Join me as we discuss how Nimrod and his team are using their operational expertise to identify high-impact investments that are transforming lives in Africa, India, and beyond.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Nimrod Gerber's background (00:00) Early career and transition to impact investing (19:17) Joining Vital Capital (29:50) Vital Capital's mission and theory of change (35:19) Investment process and impact assessment (47:44) Examples of Vital’s end-to-end investment process and results (01:14:52) Post-investment impact assessment and key KPIs tracked (01:28:48) Correlation between impact and financial returns (01:32:00) Vital Capital's unique approach to risk (01:34:21) What sets Vital Capital apart and its key success (01:43:12) Rapid fire questions (01:48:32) Connect with Nimrod Gerber (01:58:22)
Nancy Pfund's Secret Sauce: How DBL Partners' Double-Bottom Line Defined Impact Investing (#055)
10 Sep 2024
01:37:30
My guest today is Nancy Pfund, the visionary founder and managing partner of DBL Partners. She invested in Tesla when others ridiculed the idea of electric cars transforming the auto industry.
DBL was among the first to see Tesla's potential, driven by a commitment to decarbonize transportation and create jobs in an industry most believed would never succeed. Today, they’re not just an investor but a pioneer in the field of impact investing, proving that financial success and social impact can indeed go hand in hand.
Nancy's journey into impact investing began with a strong foundation in anthropology and a unique career path that led her through policy advocacy and tech innovation. Before founding DBL, Nancy was a managing director of venture capital at JPMorgan. Previously, Nancy worked at Intel Corporation, the State of California, Stanford University, and the Sierra Club.
This experience paved the way for her pioneering work at DBL, where she has managed over a billion and a half dollars in assets, backing transformative companies like SolarCity, The RealReal, and, of course, Tesla.
DBL Partners invests across diverse fields such as cleantech, sustainable products, and information technology, all while maintaining a strong focus on climate impact and economic inclusivity. DBL’s approach is centered on their “trifecta” strategy:
eliminating excess carbon in industries
achieving substantial impact
investing in sectors that have historically been carbon-intensive
Join me today as we explore Nancy's career, the evolution of impact investing, and how DBL Partners is reshaping industries with a focus on innovation and sustainability.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: Nancy Pfund’s background (00:00) Education and early career (09:10) Transition to venture capital (23:40) Early success in solar energy and initial investment in Tesla (32:54) Establishing DBL Partners (38:12) DBL's mission, approach, and theory of change (43:10) Aligning impact results with financial returns and impact assessment (01:00:42) Policy engagement’s influence on DBL’s portfolios (01:17:38) Advice for impact investors (01:22:48) Rapid fire questions (01:30:40) Contact info (01:34:55)
FinTech & Capital Markets for the Underbanked: Quona Capital Brings the Margins into the Mainstream (#054)
03 Sep 2024
01:58:27
Today, I'm speaking with Monica Brand Engel, a Co-Founder and Managing Partner of Quona Capital, an impact pioneer focusing on financial inclusion in emerging and frontier markets.
Quona’s mission is to generate impact and returns by investing in micro, small, and medium-sized businesses across South and Southeast Asia, Latin America, and Africa.
The company is dedicated to transforming lives in underserved and underbanked communities through fintech solutions that bridge the gap between emerging markets and advanced financial infrastructures. It offers a range of financial products that meet the unique needs of consumers in these markets, including digital payments, lending platforms, accessible insurance products, and comprehensive neo-banking services.
Monica’s journey into impact investing is deeply influenced by her multicultural upbringing and experience in both the private and nonprofit sectors. She began her career in financial services, driven by a deep commitment to economic empowerment and financial inclusion, which eventually led her to co-found Quona Capital.
Before founding Quona, Monica was a Vice President at ACCION International, a leading global microfinance organization promoting commercial approaches to alleviate poverty.
Quona Capital is strategically focused on understanding the nuances of investing in emerging markets so that it can support entrepreneurs with both local insight and global expertise.
However, it has not only made a significant impact on financial inclusion but has also proven that these ventures can generate strong financial returns. Under Monica’s leadership, Quona has grown to manage $760 million in assets, with a team that speaks 21 languages and operates across major hubs like Mexico City, Bengaluru, Jakarta, and Cape Town.
Join me today as I speak with Monica about her remarkable background and how Quona Capital creates opportunities for millions of people in regions often overlooked by traditional financial service providers.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing.
Key Takeaways: Monica’s background and early career (00:00) The calling to work internationally (19:23) Career in ACCION International and shifting focus to fintech (27:39) The birth of Quona Capital (38:19) Quona’s mission and key strategies (52:54) The meaning of financial inclusion (59:26) What makes a company investable for Quona (01:03:41) 3 key measures of impact (01:11:37) Aligning impact and financial returns (01:20:58) Evaluating and managing risks in emerging markets (01:36:05) Key lessons for impact investing success (01:44:35) Contact information (01:56:48)
Million-Dollar Missions: A 2-In-1 Episode on How These Investors Are Reshaping the World (#053)
21 Aug 2024
01:12:46
This episode is a two-for-one, and that’s because the podcast recently hit its second year anniversary. To celebrate, I’ve been curating special compilation episodes, featuring some of the best segments over the past two years of SRI360.
Today, I’m revisiting two extraordinary guests who have harnessed the power of impact investing to create a better, more sustainable world. What ties these two pioneers together is their commitment to setting the stage for a future where investment is not just about profit, but about purpose.
Here are the featured guests:
Basil Demeroutis, Managing Partner of FORE Partnership
FORE Partnership is a purpose-driven real estate investment firm active in the UK and Western Europe. Out of a passion for sustainability, Basil founded FORE Partnership believing in a low carbon future in which property can be a force for social good, aligning with both his and the company’s investors’ core values.
In his segment, we discuss how Basil puts the “E” and the “S” into their real estate projects. We hear about some of FORE’s projects and examples of the real social impact they have made, how FORE became one of the first real estate investors to become a certified B Corporation, and much more.
Jean-Philippe de Schrevel, Founder and Former Managing Partner at Bamboo Capital Partners
Since our last conversation in 2022, Jean-Philippe founded a company called Oxygen Holding and became a partner in Oryx Impact in early 2024. His former venture which we explored back in 2022 is Bamboo Capital Partners, and it’s an impact investing platform providing innovative financing solutions to businesses in emerging markets.
Jean-Philippe is widely considered to be a global pioneer in the field of impact investing, having founded Blue Orchard in 2001 and later on Bamboo Capital Partners in 2007. He’s launched eight investment funds and raised over $1 billion across a variety of asset classes and sectors.
Jean-Philippe has made it his life’s mission to help develop solutions to some of the most critical problems on our planet today. In his segment, he shared Bamboo Capital Partners’ investment strategies and their five main Funds. We also talk about Bamboo’s partnerships with various UN agencies and International NGO’s, the SDG500 Impact Investment platform, and much more.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Introduction (00:00) Basil Demeroutis & what FORE Partnership does (03:12) FORE’s building forward strategy & investment selections (19:07) Investment examples & greener building materials (26:09) Jean-Philippe de Schrevel’s start in microfinance & founding
Impact Investing Excellence: A Compilation of Four Leading Minds Working On Social Change (#052)
13 Aug 2024
01:22:43
In celebration of the SRI360 podcast's second anniversary, I’ve prepared a special four-in-one episode featuring curated segments from four extraordinary leaders in impact investing and social change. These stories highlight their unwavering commitment to using finance as a tool for positive change, showcasing how these pioneers are leading the way in sustainable and responsible investing. Here are the featured guests:
1. Jenn Pryce, President and CEO of Calvert Impact Capital.
Under her leadership, Calvert Impact Capital has raised nearly $3.5 billion, investing in communities and businesses overlooked by traditional finance in over 100 countries. Jenn’s story highlights the importance of making impact investing accessible to both institutional and retail investors.
2. Sharon Vosmek, CEO of Astia and Managing Partner of the Astia Fund.
Sharon is a venture capitalist who directly invests in and syndicates investors into high-growth start-ups founded and led by women. She talks about the under-investment by venture capital firms in women-led companies, citing interesting statistics on how much money seems to be left on the table by doing so.
3. Ben Rick, is the Co-Founder of Social and Sustainable Capital.
Ben transitioned from a successful career in investment banking to co-founding a firm that provides flexible capital to social sector organizations in the UK. His passion for making a difference has driven him to support initiatives tackling society's most pressing challenges and improving the lives of disadvantaged people.
4. Stewart Langdon, Partner and Co-Head of South Asian Investments at LeapFrog Investments.
Stewart's expertise in financial and healthcare services investments across emerging markets has made a significant impact on low-income populations. With a focus on both financial returns and social impact, Stewart discusses LeapFrog’s rigorous investment decision-making process and the transformative power of technology in providing essential services.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Introduction (00:00) Sharon Vosmek explains Astia’s mission & theory of change (03:53) Key statistics about women’s inclusion in venture capital investing (10:59) Ben Rick tells us about Social and Sustainable Capital’s Social Housing Fund (18:44) How Ben Rick makes investing decisions (25:39) Jenn Pryce talks about community investing with Calvert Impact Capital (37:47) An example of an investment with positive financial and impact results (46:25) How the community investment note works, strategies & due diligence (52:25) Stewart Langdon shares an overview of LeapFrog (01:01:29) How LeapFrog was founded, how they deploy capital & investment examples (01:09:28)
How Science-Based Impact Investments Are Saving Our Planet with Lena Thiede, Co-Founder of Planet A Ventures (#051)
06 Aug 2024
01:15:29
In a society pushing most planetary boundaries, how can venture capital step in and scale the technologies we need to change the world?
That’s the power behind Planet A Ventures, led by environmental advocate and policymaker Lena Thiede.
Lena is a co-founding partner of Planet A — a cutting-edge green tech venture capital fund that only invests in European startups with a proven and significant positive impact on the environment. They’ve already hit an important milestone, raising an impressive €160 million in 2023 that has been put into action for backing and scaling startups with groundbreaking green technologies in development.
What’s truly unique about Planet A Ventures is that they’re the only early-stage VC with an in-house science team dedicated to conducting rigorous lifecycle assessments before investing, which Lena leads. This means they place the highest value on impact as the primary screening metric, guaranteeing significant positive outcomes for climate, biodiversity, and beyond.
Lena is a prominent figure in environmental research and policy, thanks to her substantial background in climate science and over 11 years of experience as a senior government official at the German Federal Ministry for Economic Cooperation and Development.
She knew early on in her childhood that she wanted to be involved in political science and environmental protection, a desire that landed her in government programs in Tanzania and East Africa, focusing on biodiversity and water resource monitoring and evaluation. Lena has also done environmental research for the German Advisory Council on Global Change, OECD, GIZ, and the Ecologic Institute. She also advises the EXIST Program of the German Ministry for Economic Affairs and Climate Action, promoting more science-based startups.
Tune in to hear all the fascinating examples of science-based impact investing that Lena shares, along with how Planet A is transforming the landscape of sustainable venture capital.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways Meet Lena Thiede & her formative years (00:00) Lena’s time at the Ecological Institute in Berlin & 3plusx (08:23) Moving to Tanzania & Managing the Serengeti & Selous game reserves (13:48) Relocating to Cape Town, founding Planet A, and Lena’s other ventures (19:16) A high level overview of Planet A ventures (25:55) The relationship between impact and financial returns (33:48) Planet A’s investment universe & how they measure impact (34:51) Conducting lifecycle assessment analysis (48:42) Positive impact beyond Planet A & the biodiversity lifecycle analysis (54:51) An end-to-end look into a Planet A investment (59:55) Rapid fire questions (01:08:53)
Inside TPG’s The Rise Fund: Maya Chorengel on Managing the Largest Global Impact Platform (#050)
24 Jul 2024
01:42:49
What happens when Bono meets impact investors? They create The Rise Fund! In this episode, I’m speaking with Maya Chorengel, the co-managing partner of The Rise Fund — the world’s largest global impact platform committed to achieving measurable, positive social and environmental outcomes while securing financial returns for its investors.
Founded by TPG, a private equity firm with $224 billion in AUM, The Rise Fund was launched in partnership with U2’s Bono and Jeff Skoll, and now boasts $9 billion in AUM. The fund invests in growth-stage, high-potential, mission-driven companies that have the power to change the world.
Maya is a long-time impact, private equity and venture capital investor, leading climate, education, financial inclusion, and healthcare investing, among others, for Rise worldwide. She was also the key architect in developing the fund’s impact methodology and assessment process.
She began her investing career at Warburg Pincus and eventually gravitated toward impact investing in 2007, when the concept was still very much in its infancy. Prior to TPG, she was the Managing Director of the Dignity Fund and co-founder of Elevar Equity, where she leveraged venture capital and microfinance to drive impact across emerging markets.
Recognized as Barron’s 100 Most Influential Women in US Finance, among several other awards and titles, Maya has played a substantial role in elevating the concept of impact investing to what it is today, particularly within TPG.
Tune in to hear all about how The Rise Fund leverages TPG’s vast resources, business-building skills, and global network to help portfolio companies accelerate growth, change, and impact.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today.
Introducing Maya Chorengel: her upbringing, education, & early career (00:00) Maya’s work at Warburg Pincus and The Dignity Fund (18:56) Founding Elevar Equity & its theory of change (31:38) Maya’s move to TPG & an overview of the company (46:06) The Rise Fund’s theory of change & investment universe (01:06:25) Measuring impact & Maya’s article in the Harvard Business Review (01:13:56) Examples of companies that Maya invests in with The Rise Fund (01:16:10) The investment lifecycle, stewardship, and active engagement (01:26:46) Explaining TPG’s proprietary tool IMM: impact multiple of money (01:31:31) Maya’s take on the future of impact investing (01:37:15)
From £10M to £2B: Michele Giddens “Bridges” Impact Purpose with Double-Digit Returns (#085)
07 May 2025
01:28:07
My guest today is Michele Giddens, Co-Founder and CEO of Bridges Fund Management — one of the early architects of impact investing, before the term was even coined.
Bridges now has over £2 billion in AUM invested in private equity and property, but back in 2002, it began with little more than a blank sheet of paper and a conviction that capital could — and should — be used to address some of society’s biggest challenges.
Michele and her co-founders, Sir Ronald Cohen and Philip Newborough, believed social and environmental impact didn’t have to come at the expense of returns. That belief has held firm for over two decades — and continues to shape how Bridges invests today.
After graduating with a PPE degree from Oxford, she skipped the corporate path and headed to Mexico City to teach English — the start of what became 15 years living and working abroad. From Hungary to Poland, Bangladesh to Mongolia, she followed the same instinct: a need to be close to where impact actually happens.
That drive brought her back to the UK in 2000 to advise the Treasury’s Social Investment Task Force, chaired by Sir Ronald Cohen. One of its key recommendations was to launch funds focused on underserved parts of the UK. Michele helped shape that idea — and stayed to build the first one.
Their first fund was £40 million, including £10 million in catalytic capital from the UK government, structured to take more risk and go in first. “One of the very best uses of taxpayer money,” she says — because it helped unlock over £2 billion in private sector investment since.
Today, Bridges operates across two verticals: building a more sustainable planet and a more inclusive economy. In property, that means co-living spaces, healthcare, and age-friendly housing. In private equity, it includes companies like AgilityEco, which helped 200,000 households reduce energy bills, and Talking Talent, which helps underrepresented employees rise through leadership.
Michele is clear-eyed about what impact can and can’t do. Some challenges need capital that’s more patient, more risk-bearing, or even concessionary. That’s why Bridges has built nonprofit arms to reach the edges of what the market can’t serve.
But she’s equally convinced — and backed by two decades of results — that plenty of investments deliver both meaning and double-digit returns, if you design for it.
That’s been the aim from the start — not to trade one off against the other, but to hold both to a high standard. Twenty years on, that idea hasn’t softened.
What Michele and her team have built isn’t just a firm. It’s a bridge. And over twenty years in, it still holds.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing.
SRI Investments That Surprisingly Worked: Lessons Learned from World-Class Investors (#049)
16 Jul 2024
00:27:45
Today’s episode is a follow-up to our first “best of” compilation in celebration of our 2-year anniversary as the SRI360 podcast.
I’m highlighting some of my favorite and most interesting responses from one of the most popular questions in my interviews.
Tune in to hear what these world-class investors in sustainable and responsible investing had to say.
This episode features:
François Bourdon: ESG Investing (02:18) Managing Partner, Nordis Capital. Full episode.
Michael O'Leary: Impact Investing & Activism (03:41) Partner and Co-Head of L Catterton Impact Fund. Full episode.
Asha Mehta: Quant Investing (04:58) Managing Partner & CIO at Global Delta Capital. Full episode.
Jennifer Pryce: Community Investing (06:30) President and CEO of Calvert Impact Capital. Full episode.
Liesel Pritzker-Simmons: Family Office Investing (08:44) Co-Founder & Principal, Blue Haven Initiative. Full episode.
Mark Dowding: Fixed Income & Sovereign Bonds Investing (10:51) Chief Investment Officer at BlueBay Asset Management. Full episode.
Martin Berg: Natural Capital Investing (12:03) CEO of Climate Asset Management. Full episode.
Matt Patsky: Public Equities Investing (13:23) CEO & Lead Portfolio Manager of the Trillium ESG Global Equity Strategy. Full episode.
Chris Ailman: Sustainable Institutional Investing (14:48) Founder and CEO, Ailman Advisers. Former CIO of CalSTRS. Full episode.
Patrick Drum: Faith-Based Investing (16:48) Portfolio Manager of the Sustainable Fixed Income Fund & Amana Participation Fund for Saturna Capital. Full episode.
Radha Kuppalli: Real Asset Investing (18:39) Former Managing Director of Impact and Advocacy at New Forests. Full episode.
Sharon Vosmek: Venture Capital Investing (19:56) CEO of Astia, Managing Partner of the Astia Fund. Full episode.
Charlotte Kaiser: Impact-Driven Forestry Investing (22:27) Head of Impact Finance, BTG Pactual Timberland Investment Group. Full episode.
Adam Swersky: Social Impact Investing (24:11) CEO of Social Finance. Full episode.
Marisa Drew: Millennial Investing (25:18) Chief Sustainability Officer of the Standard Chartered Bank in London. Full episode.
— About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. — Connect with SRI360°: Sign up for the free weekly email update. Visit the SRI360° PODCAST. Visit the SRI360° WEBSITE. Follow SRI360° on X. Follow SRI360° on FACEBOOK.
Federated Hermes' Blueprint for Biodiversity Investing and Quantifying Positive Impact Outcomes | Ingrid Kukuljan, Head of Impact & Sustainable Investing (#048)
09 Jul 2024
01:08:45
Biodiversity is essential for the survival of humankind, yet we threaten it every day as a society.
But what’s most concerning is how it’s vastly overlooked by companies in the investment space, not realizing how their future returns depend on having healthy ecosystems.
To help shift this narrative is my guest Ingrid Kukuljan, Head of Impact and Sustainable Investing at Federated Hermes. Ingrid’s journey begins in Croatia, where her childhood experiences with nature laid the foundation for her future career. She started as an equity research analyst at Lazard, where she quickly made her mark and earned a spot in Citywire’s first-ever global compilation of the 1,000 top fund managers in the world.
With a career trajectory that spans several significant roles, she’s now at Federated Hermes, a multi-strategy US/UK-based asset manager with $770 billion in AUM and $1.8 trillion under stewardship advisory.
There, Ingrid is responsible for developing and leading their impact and sustainable investing franchise, overseeing products, strategies, and thought leadership primarily within the public markets.
She explains how Federated Hermes integrates impact across all investment portfolios using proprietary data tools, ensuring sustainability is embedded in every aspect of their operations across multiple asset classes. We also talk about their biodiversity champions, transition investments, their proprietary data tools, stewardship and engagement work, and their Biodiversity Equity Fund.
Join this conversation to learn about how Federated Hermes is leading the charge in biodiversity investing and beyond.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor and cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Introducing Ingrid Kukuljan and her early connection to nature (00:00) Ingrid’s start at Lazard & other career moves (11:28) Ingrid delivers an overview on Federated Hermes (17:36) The theory of change at Federated Hermes & investing on the secondary market (26:33) Ingrid’s take on integrating sustainability and impact in investment analysis (30:04) Investment process, KPIs, and generating impact across various asset classes (36:23) A peek into Federated Hermes’ proprietary data tools (47:12) The role of stewardship for achieved targeted outcomes & divestment (52:40) The Biodiversity Equity Fund at Federated Hermes & biodiversity credits (58:00) Rapid fire questions (01:03:59)
SRI Investments That Didn't Work: Short Lessons Learned from World-Class Investors — 2 Years of Insights (#047)
24 Jun 2024
00:27:42
To celebrate the SRI360 podcast's 2nd anniversary, I've created a “best of” episode with some of my favorite responses from one of the most popular questions in my interviews: the lessons learned from investments that didn’t turn out as expected.
This episode features:
1. Bram Bos: Green Bonds Investing (02:12)
Managing Director, Goldman Sachs Asset Management. Former Lead Portfolio Manager of Green, Social, and Impact Bonds at NN Investment Partners. Listen to his full episode.
2. Jennifer Pryce: Community Investing (03:45)
President and CEO of Calvert Impact Capital Listen to her full episode.
3. Marisa Drew: Millennial Investing (05:00)
Chief Sustainability Officer of the Standard Chartered Bank in London Listen to her full episode.
4. Mark Dowding: Fixed Income & Sovereign Bonds Investing (07:00)
Chief Investment Officer at BlueBay Asset Management Listen to his full episode.
5. Matt Patsky: Public Equities Investing (08:49)
CEO & Lead Portfolio Manager of the Trillium ESG Global Equity Strategy Listen to his full episode.
6. Patrick Drum: Faith-Based Investing (09:57)
Portfolio Manager of the Sustainable Fixed Income Fund Listen to his full episode.
7. Radha Kuppalli: Real Asset Investing (11:28)
Former Managing Director of Impact and Advocacy at New Forests Listen to her full episode.
The Future of Sustainable Fashion: Enabling the Circular Economy in the Apparel Sector | Karla Mora, Alante Capital (#046)
12 Jun 2024
01:45:44
Have you ever thought about what happens with the clothes you toss out, or all the unsold items in malls?
The apparel industry is a $3 trillion market that mass-produces tons of garments. Yet, a large portion of these items end up as waste without ever being sold.
For many brands, it’s more cost-effective to write off unsold items as waste rather than consolidating and reselling them — a practice that leads to huge amounts of perfectly good merchandise being thrown away, along with the packaging waste that comes with it.
So, how do we create more sustainability in the fashion industry? Today’s guest, Karla Mora, has the strategies for making this change happen.
Karla is the visionary founder and managing partner of Alante Capital. With her extensive global experiences, including work on supply chain reform in Afghanistan and a dip into the coffee sector with the United Nations Sustainable Commodity Initiative, Karla has made a unique path in impact venture capital investing.
Karla’s mission with Alante Capital is to drive real change within the fashion industry by investing in early-stage technology startup companies that champion circular, sustainable practices.
In this episode, Karla breaks down the concept of the circular economy and how her firm invests in both material science and software solutions for a more efficient value chain. We also discuss the challenges of integrating sustainability into the apparel industry, the role of consumer consciousness, and the vast opportunities for innovation within the industry.
Tune in now to learn more about impact investing strategies that are set to redefine the future of fashion.
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Show notes: {link}
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Key Takeaways: An introduction to Karla Mora and her extensive global experience (00:00) Karla’s transformative work experience in Afghanistan (19:05) Transition to Helios Investment Management and impact investing (27:57) The inspiration behind launching a circular-focused VC firm in the apparel industry (38:57) Founding Alante Capital and focusing on circularity (42:02) The three dimensions of impact and KPIs for measuring success (53:41) Alante Capital’s investment selection, decision process, and exit strategies (1:02:01) How to ensure investment in businesses maintains lasting impact post-exit (1:24:10) Investing in diverse founders and balancing sustainability and pricing (1:25:45) Rapid fire questions (1:37:55)
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Additional Resources
Connect with Karla on LinkedIn. Visit Alante Capital's website.
Mainstreaming Natural Capital Investing: How Apple & Partners Invest in Forestry & Carbon Removal To Generate Returns | Martin Berg, Climate Asset Management (#045)
05 Jun 2024
01:42:15
Have you ever stopped to think how we’re treating biodiversity like it’s free to use? Our planet’s biodiversity does a great service for all humankind, and it's time we give it the financial value it deserves.
This is the core of natural capital investing, and today’s guest, Martin Berg, is here to share its inner workings.
He is the CEO of Climate Asset Management, and he made his way into climate finance at the UN’s first Climate Change Conference following the Kyoto Protocol. Martin's commitment to climate and nature-based solutions has led him through several leadership and strategy positions over the past two decades, integrating natural capital investing and carbon finance across both private and public sectors at organizations like the European Investment Bank, Merrill Lynch, RNK Capital, and the OECD.
Martin shares how Climate Asset Management started off as a joint venture between HSBC and Pollination. With $650 million of AUM raised after just 18 months, the company has become a global asset management leader in the field of natural capital investing, carbon offsets, and innovative financial vehicles that bridge the two.
The company is now investing across all asset classes, themes, and geographies, and even managing capital on behalf of high profile corporates such as Apple, among other large institutional investors.
In this episode, Martin shares his thoughts on how natural capital investing not only addresses climate change but also offers significant, long-term financial returns. He emphasizes the importance of moving large amounts of capital to this space for our planet’s future, and delivers a comprehensive view of the challenges and opportunities in natural capital and carbon finance.
Tune in to learn how nature’s value can turn into real financial gains that drive positive environmental impact.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys to insights into how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
Meet Martin Berg & his early experiences at the UN & OECD (00:00) Becoming a Carbon Finance Specialist at RNK Capital in New York (13:15) Martin’s time at Merrill Lynch, the European Investment Bank, & Pollination (21:26) An overview of Climate Asset Management (42:19) Martin defines what natural capital investment is (48:50) Climate Asset Management's theory of change & investment examples (53:35) What makes a strong nature-based investment? (01:02:45) The investment process at Climate Asset Management (01:10:00) Apple’s Restore Fund & The Future of Natural Capital Investing (01:23:53) Rapid fire questions (01:32:14)
Impact Investing: A Win-Win for Health & Wealth | Kieron Boyle, Impact Investing Institute (#044)
21 May 2024
01:33:46
Research shows that 81% of adults would like their investments to do some good as well as provide a financial return. However, the skepticism surrounding impact investing and limited awareness of the tools, standards, and regulations that support it holds many investors back in their impact journey.
What the world needs now is greater advocacy for integrating social good into mainstream investment practices, which is precisely what we're going to explore with today’s guest, Kieron Boyle.
Kieron Boyle is a visionary leader working on shaping policy around impact investing for social good. Currently, he’s the Chief Executive of the Impact Investing Institute in London, an independent, non-profit organization with the goal of making capital markets fairer and better aligned with the UK’s and the world’s current social and environmental needs.
Prior to the Impact Investing Institute, Kieron served as the Chief Executive of Guy's and St. Thomas' Foundation for seven years, managing their £1 billion foundation investment arm. His highly distinguished career spans several influential roles, including a senior advisor role at No. 10 Downing Street, which led to this Cabinet Office role as Head of Impact Investment and as a non-executive director at the world's first social investment bank — Better Society Capital.
With this breadth of experience, Kieron has consistently driven real-world change through innovative financial strategies focused on urban health and social good.
Our conversation delivers insights into Kieron’s goal of shaping investment frameworks that not only yield financial returns but also address crucial global challenges surrounding health and climate change. We discuss his achievements in his most prominent roles and also his efforts in establishing major initiatives like the Long-term Investors in People's Health (LIPH), a $7 trillion global alliance of institutional investors working to improve people's health.
Tune in to learn more about how you can contribute to societal change while also achieving financial growth.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Key Takeaways Meet Kieron Boyle, his early life, & formative experiences (00:00) Kieron’s beginnings in strategy consulting (18:38) The world's first social investment bank, Big Society Capital (35:28) Kieron’s time at Guy’s and St. Thomas' Foundation (45:15) Transition to the Impact Investing Institute & their theory of change (01:14:16) Kieron’s plans for the Impact Investing Institute (01:22:41) Rapid fire questions (01:29:02)
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Additional Resources Learn more about Kieron here or connect with him on LinkedIn and X. Visit the Impact Investing Institute website here. Visit Big Society Capital here.
Portfolios looking to make a real-world impact are increasingly considering real assets as part of their investment strategies.
With a trillion-dollar investment gap in our global infrastructure, this seems like a smart move. Real asset investing is not only driving progress worldwide, it’s also a smart long-term investment to secure our planet’s future.
But some may ask… what is the real extent of impact that real assets can generate? In this episode, we’re going to find out.
My guest is Anish Majmudar, the Head of Real Assets at M&G plc whose team focuses on investments in infrastructure, agriculture, and nature-based solutions. He studied economics at University College London and entered the world of finance and asset management in 2012 thanks to the graduate program at M&G.
Anish is here to share his remarkable insights on overseeing a vast portfolio that amounts to nearly $400 billion in assets across public and private markets.
His curiosity for alternative assets ultimately led to a crucial role in growing Prudential Assurance Company’s real assets portfolio division.
In this episode, Anish and I lay out all the opportunities and challenges within the real asset impact investing space, an area that M&G is opening up for a broader range of investors, having previously been the preserve of large institutional pools of capital. These investments aim to bridge the massive infrastructure spending gap with sustainable solutions, focusing on energy transition, responsible consumption and production, and social and economic inclusion.
We also discuss how this strategic approach is about much more than just capital investment for returns; it's about leveraging private capital and M&G’s expertise to create clean energy, improve biodiversity, and open doors for underserved communities, thereby driving decarbonization and advancing global sustainability.
Tune in to gain a better understanding of the deep impact that strategic investments in real assets can bring to our world.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Key Takeaways Meet Anish Majmudar & his start in asset management (02:58) An overview of M&G plc & Anish’s focus on real asset impact investing (16:45) Zoning in on M&G’s real asset impact fund (21:53) M&G’s focus on energy transition, responsible consumption, & social inclusion projects (30:35) How M&G identifies investment targets, impact washing, & investment exits (46:04) Measuring impact & examples of M&G’s investment methodology (56:10) Carbon and biodiversity credits & their competitive edge in real asset investing (01:06:35) Rapid fire questions (01:11:50)
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Additional Resources Connect with Anish on LinkedIn. Learn more about M&G plc here.
How This Impact VC is Transforming Plastic Waste Management by Investing in the Circular Economy | Lucy Mortimer, Archipelago Ventures (#042)
06 May 2024
01:58:42
When you think of the circular economy, it’s inevitable to also bring up the significant challenges in the transition to this model, such as high transition costs, logistical complexities, inconsistent regulatory support, and low business and consumer participation. Regardless of its complexities, there’s hope in impact venture capital.
To share how venture capital investing is playing a huge role in overcoming these barriers is today’s guest, Lucy Mortimer, a founding partner of Archipelago Eco Investors and Archipelago Ventures. She’s a visionary force who is paving the way towards a circular economy through funding innovative solutions and technologies that drive systemic change in the way we manage and use materials.
With a career spanning over two decades, Lucy has cultivated a rich expertise in climate finance, renewable energy, and ESG. Her early days as an emissions broker at CantorCO2e and her experience in founding Galápagos Environmental Consulting exposed her to plastic waste innovations, inspiring the birth of Archipelago Eco Investors in 2020.
Archipelago’s mission is to tackle the challenges in waste management at material recovery facilities (MRFs), particularly plastics and microplastics — a sector full of inefficiencies and a disappointingly low rate of material reuse. They do it by supporting tech startups focused on plastic waste, from seed to Series B, aiming to increase the amount of material that remains within the circular economy while reducing carbon emissions and environmental impact.
In this episode, Lucy shares real examples of how Archipelago is revolutionizing the circular economy, digging into exciting projects and ideas in enzymatic recycling, pre-fill products, and bio-based materials. She also highlights the firm’s three-way investment strategy: the Future of Plastics Fund, the Circular Plastics Accelerator, and the Oceans Plastic and Microplastic Accelerator.
Join the conversation to learn how visionary investors like Lucy are not just betting on technology but are actively funding the transition towards a circular economy.
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Show notes: {link}
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Intro (00:00) Meet Lucy Mortimer & her path into finance & sustainability (03:13) An overview of Archipelago Eco Investors & Archipelago Ventures (30:25) What the circular economy is and the economics of plastic recycling (43:47) Lucy’s focus on AI-enabled separation technologies (55:06) Archipelago Eco Investors’ theory of change (01:02:33) Examples of Archipelago’s investment strategy & expected market returns (01:09:29) How Archipelago invests and measures impact outcomes (01:21:01) Impact washing & improving recycling’s profitability (01:32:30) Rapid fire questions (01:50:14)
Impact-Driven Forestry Investing: Biodiversity & Climate Returns Beyond Business As Usual | Charlotte Kaiser, Head of Impact Finance, BTG Pactual TIG (#041)
23 Apr 2024
01:10:42
Traditional timberland investing has historically attracted those with long investment horizons, drawn by its reputation as a solid inflation hedge and ability to deliver cash yields competitive with public equities over the long term.
But imagine investing in forests not just for profit, but as a powerful agent of global sustainability and conservation. It’s a powerful win-win!
This episode is all about impact-driven timberland investments and my guest is Charlotte Kaiser, a visionary leading the charge at BTG Pactual’s Timberland Investment Group (TIG) as the Head of Impact Finance.
After her first job in community development banking in Borneo with a USAID project for the Biodiversity Conservation Network, she moved to The Nature Conservancy, becoming Deputy Managing Director in the creation of NatureVest. Charlotte scaled their impact investment portfolio to over $2.5 billion, focusing on conservation-driven strategies that benefit both people and the planet.
Charlotte now oversees TIG’s $6 billion portfolio, creating impact strategies to hit production objectives, create financial returns, and support water, biodiversity, and climate conservation at scale through their core timberland assets.
We also touch on how Charlotte generates impactful results for ecosystems and communities through key alliances with organizations such as The Nature Conservancy and Conservation International, all through real asset impact investing, as well as her thoughts on carbon offsets, reforestation, and biodiversity protection initiatives across the continent.
Tune in to learn how Charlotte and TIG are redefining sustainable forestry with impact-driven strategies.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
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Key Takeaways Intro (00:00) Meet Charlotte Kaiser and early interest in conservation (01:02) Charlotte’s 13-years at The Nature Conservancy/NatureVest (17:29) Carbon offsets explained & their effectiveness in reducing emissions (23:51) Strategic partnerships with corporate giants. Is it greenwashing? (33:03) Charlotte’s transition to BTG Pactual’s Timberland Investment Group (35:45) The role of traditional forestry in investor portfolios (40:30) TIG’S impact investing strategy, measuring impact & main risks (45:44) Sustainable forestry’s role in climate change & biodiversity (56:34) The competitive advantage of sustainable forestry & tech innovation (01:01:27) Rapid fire questions (01:03:47)
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Additional Resources
Learn more about Charlotte Kaiser & Timberland Investment Group:
Learn more about NatureVest here. Connect with Charlotte Kaiser on LinkedIn. Find the book mentioned "Nature's Keepers" here.
Wall Street's Green Bond Warrior: From Creating GB Principles to Financing the Energy Transition | Marilyn Ceci, JP Morgan (#040)
15 Apr 2024
01:16:19
The world of finance has proven that it has the power to drive the global decarbonization effort and advance interest in ESG investments. Learn how this is happening with one of the architects of the Green Bond Principles.
Today's guest is Marilyn Ceci, a titan in the world of sustainable finance. She started in interest rate sales at JP Morgan, making her way to Head of ESG Debt Capital Market, and is now the Managing Director and Senior Advisor to the Center for Carbon Transition.
With over three decades of experience, Marilyn spearheaded ESG debt capital market growth and co-authored the Green Bond Principles, a cornerstone in the development of the green bond market worldwide. She also steered JP Morgan to become the #1 Global Sustainable Bond Underwriter multiple years in a row.
Marilyn is a major force in driving the global sustainability agenda forward, earning her several awards and recognitions such as Wall Street's Green Bond Warrior by Reuters and GlobalCapital's Top Most Impressive Green/SRI Investment Banker.
In this episode, I dig into the origins of the Green Bond Principles and their evolution. Marilyn also shares how green bonds differ from traditional bonds, the role of bonds and fixed income in driving long-term ESG impact, and more.
Join me in this powerful discussion on the transformative power of green bonds and how Marilyn’s work is sustainably financing the carbon transition.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Key Takeaways: Intro (00:00) Meet Marilyn Ceci (02:31) An overview of JP Morgan and their ESG debt strategy (07:48) From interest rate sales to kickstarting the green bond market (12:07) Incentives for issuing a green bond vs. a traditional bond & examples (23:36) Insights on co-authoring the green bond principles & their evolution (29:50) The role of bonds and fixed income in driving long-term ESG impact (39:25) Supporting biodiversity, stakeholder engagement, & greenwashing (45:18) Marilyn’s take on the new European green bond regulation (51:27) Marilyn’s role at JP Morgan's Center for Carbon Transition (55:14) The future of fossil fuel-related projects at JP Morgan (01:03:24) Experience with teaching at Duke University (01:04:58) Rapid fire questions (01:06:48)
Building the Green Bond Market With No Playbook: Lessons From 500+ Deals in Sustainable Finance | Romina Reversi (#084)
30 Apr 2025
01:27:16
My guest is Romina Reversi, Managing Director and Head of Sustainable Investment Banking Americas at Crédit Agricole CIB — one of the banks that helped write the very rules of the green bond market, and has stayed near the center of gravity ever since.
Romina’s path into banking didn’t start with a mission to change the world. It started with a love of math — and a drive for precision — that took her from the University of Michigan straight onto JP Morgan’s derivatives desk.
She worked in equity structuring and sales, building a technical foundation and a strong client ethic. As she puts it, “All bankers know the product. But how do you actually serve your clients? That’s the real work.”
The pivot came in 2015. Romina took what she describes as a ‘leap of faith.’
She moved from derivatives into a new and mostly uncharted part of the bank: ESG debt capital markets. Back then, most CFOs and treasurers hadn’t heard of green bonds. Frameworks barely existed. She and a few others were flying around the world with a handful of PowerPoint slides, trying to explain what this market even was.
In her own words, “There was no playbook. We were literally inventing how to pitch.”
That blank page became her blueprint. Over the next several years, she helped structure more than 500 sustainable debt transactions — including Apple’s first green bond and Uruguay’s step-up, step-down sustainability-linked bond, the first of its kind in the world.
Romina joined Crédit Agricole in 2021. It’s a bank with deep roots in agriculture and a reputation as one of the earliest movers in green and sustainable finance. And today, she’s building out their Americas operation with the same mix of ambition, nuance, and rigor that brought her success at JP Morgan.
For Romina and her bank, sustainability is more than branding — it’s ‘truly ingrained in their DNA.’
Now leading the Americas team, Romina operates across the entire investment banking suite — bonds, loans, M&A, IPOs, ESG advisory, and beyond.
Her mandate isn’t just to sell green products. It’s to embed sustainable thinking across structures. To know when a KPI isn’t credible. To tell a client when the deal they want to do isn’t in their best interest.
Romina is thoughtful about risk. Transparent about pushback. And unafraid to challenge linear definitions of impact. For her, transparency itself — giving investors a clear view into where their capital is going — is a form of additionally.
In a market still grappling with backlash, confusion, and greenwashing fatigue, Romina is defining what credible, innovative, and client-aligned sustainable finance can look like.
In this conversation, we talked about using AI for biodiversity tracking, about injecting sustainability into private credit, about financing for nuclear and hydrogen and sustainable aviation fuel, and much, much more…
Tune in and find out what it means to be a sustainable banker for the next decade — not just a dealmaker, but a translator, a teacher, and a strategist.
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing.
How To Generate Alpha & Impact in Emerging Markets with THIS Cutting-Edge ESG Quant Strategy | Asha Mehta (#039)
08 Apr 2024
01:39:52
Emerging and frontier markets are full of opportunities often overlooked by the mainstream investment community.
Today’s guest will help us understand these markets and prove how systematic investing in publicly listed equities can unlock their potential for alpha and impact generation.
Meet Asha Mehta, the managing partner & CIO at Global Delta Capital, a US-based equity long-only investment manager focused on harnessing the power of capital to fuel social and economic development in international, emerging, and frontier markets.
With a background that begins with medical and anthropological studies at Stanford and a well-traveled upbringing, Asha developed an interest in microfinance lending in India after witnessing its extreme poverty in the late 90s. This experience led her to pioneering roles in sustainable and quant investing, making a mark on the international investment scene.
Recognized as one of the Top 10 Women in Asset Management and dubbed a "Brilliant Quant" by Forbes, Asha’s career highlights include leading emerging market strategies at Acadian Asset Management, where she launched the first quantitative/systematic frontier fund.
At the core of this episode is Global Delta Capital’s combination of systematic stock selection and a fundamental thematic overlay on the opportunities present in emerging and frontier markets. Asha and her team are not just seeking high returns; they're using their combined expertise to leverage ESG data and make a tangible impact on the world’s financial, environmental, and social landscape.
We also discuss a range of topics, including the importance of financial literacy, quantitative investing, examples of emerging markets that Global Delta Capital has invested in, and Asha’s take on the future of investment in developing economies.
If you’re intrigued by the power of capital to drive global change and want to learn from one of the leading voices in the field, this is an episode you cannot miss.
Tune in and be inspired by this adventure capitalist.
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Show notes: {link}
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Key Takeaways Intro (00:00) Asha Mehta’s background and transition into finance (02:47) Founding Global Delta Capital (24:43) Overview of Global Delta Capital's strategy and focus areas (35:06) Asha explains quantitative investing & strategies for sourcing reliable data (41:07) The investment process at Global Delta Capital (55:16) Discovering opportunities in the emerging markets: Saudi Arabia’s case (01:03:52) Shareholder engagement, risk management, & examples of impact (01:11:39) Asha’s book “Power of Capital” & emerging market predictions (01:21:03) Rapid fire questions (01:32:45)
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Additional Resources Find Asha’s book “Power of Capital” here.
Learn more about Global Delta Capital here: Website LinkedIn
The views and opinions expressed in this podcast are that of Asha Mehta’s only,
Creating Blue Haven Initiative: A Millennial’s 100% Impact-Focused Single-Family Office | Liesel Pritzker Simmons, Co-Founder (#038)
25 Mar 2024
01:31:06
Millennials care much more about how their investments affect the world around them. Since they’re set to inherit the largest wealth transfer in history, we’re seeing a shift toward impact investing.
Today’s episode is proof.
My guest is Liesel Pritzker Simmons, a millennial who’s rewriting the rules of wealth management with her single-family office, Blue Haven Initiative. It’s one of the world’s first family offices to go all-in with impact investing across all asset classes, transforming their wealth into catalysts for social and environmental impact through strategic investments.
We begin the conversation with her transition from Hollywood's silver screens to the forefront of private wealth investing. Born into a lineage renowned for its philanthropic and entrepreneurial ventures, Liesel's journey is not just one of inheriting wealth but of redefining its purpose.
Through her acting work and her time at Columbia University, Liesel developed a diverse background that laid the groundwork for co-founding the Blue Haven Initiative with her husband in 2012.
At BHI, Liesel oversees a diverse portfolio that spans several asset classes, including traditional equities, private equity, and philanthropic programs, all structured to generate financial returns while addressing social and environmental challenges.
Liesel also works closely with organizations that support and advance the field of impact investing, co-founding The ImPact, a network of families committed to the conscientious stewardship of wealth, and serving as a board member of Activate, the IDP Foundation, and ImpactAssets.
Blue Haven Initiative demonstrates that a single-family office can do more than just manage wealth; it can wield it as a force for good through strategic placements in sustainable ventures and innovative startups.
Our conversation also explores topics of social responsibility, investing in fintech in Sub-Saharan Africa, the power of civic engagement, and catalytic and philanthropic capital.
Ready to learn how you can also transform your wealth into a force for positive change? Listen in.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Key Takeaways Intro (00:00) Liesel’s transition from child actor to impact investor (02:37) A Millennial’s POV on investing (22:11) What the Blue Haven Initiative is & their investment approach (25:48) Blue Haven’s impact goals and strategies (40:30) A few examples of Blue Haven’s investments (56:17) Investing in the youth vote (01:04:28) Thoughts on impact washing, catalytic capital, and philanthropic capital (01:10:39) Rapid fire questions (01:23:14)
Social Finance's CEO Shares Everything You Need To Know About Social Impact Bonds | Adam Swersky, CEO, Social Finance (#037)
18 Mar 2024
01:25:53
In the pursuit of social change, every bit of investment can make a difference. Learn how Social Finance is leading the charge through social impact bonds.
Today, I’m interviewing Adam Swersky, CEO of Social Finance (UK), the non-profit enterprise responsible for creating the world’s first social impact bond. He’s here to talk all about social impact bonds and has been at the forefront of designing solutions that bring together finance with social impact since he joined the organization in 2014.
After studying economics at Cambridge, Adam became a project leader at the Boston Consulting Group, where he advised private, public, and not-for-profit organizations on strategy and transformation. There, he was seconded to the Clinton Health Access Initiative in West Africa to support Niger in accessing a subsidy for malaria medication.
Now as CEO of Social Finance, Adam shares how this organization, which predates the term "impact investing," leads the effort of designing solutions to solve social challenges beyond mere investment. He also details how they have broadened beyond investment to involve data collection and analysis, philanthropy, building new ventures, government advisory, and beyond.
From the mechanics of how social impact bonds function to several real-life examples of social bonds at work, this episode delivers a deep look into social impact financing.
We also touch on the capabilities and limitations of private capital in addressing social challenges, and Adam’s insights on leading an impact-focused business.
This conversation is a deeper exploration of how social impact bonds serve as a partnership between social investors, governments, and providers to design solutions to social challenges.
Feeling intrigued? Listen now to learn how Adam and Social Finance are pioneering the path for impactful investing.
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Show notes: https://sri360.com/podcast/https-sri360-com-podcast-adam-swersky/
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About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Intro (00:00) Adam Swersky’s background and start at Boston Consulting Group (03:03) An overview of Social Finance: How they began & what they do (18:07) How Social Finance produces transformative social impact (30:11) A look into the world’s first social impact bond for Peterborough inmates (35:59) The Mental Health and Employment Partnership Program (45:51) A detailed look into the workings of social bonds (50:39) Measuring outcomes and managing risks for social impact bonds (57:58) The evolution of social impact bonds (01:07:57) Adam’s thoughts on leadership & rapid fire questions (01:19:54)
How BlackRock Invests in Green Bonds & ESG Fixed Income | Ashley Schulten, Head of ESG Investing, Global Fixed Income (#036)
11 Mar 2024
01:18:28
What if your investments could be a force for global change? At BlackRock, the world’s largest asset management company, they’re steering capital towards a sustainable future with green bonds and ESG fixed-income investing.
In this episode, I’m speaking with Ashley Schulten, the Head of ESG Investment for Global Fixed Income at BlackRock. After graduating from Vanderbilt University, Ashley entered the world of finance as a bond trader at First Union. From there, she evolved in the financial world at institutions like BNP Paribas, J.P. Morgan, and Goldman Sachs, before landing at BlackRock.
At BlackRock, where over 600 people manage more than $700 billion invested in sustainable strategies, Ashley oversees ESG investing and integration in the active fixed-income asset class.
Besides driving the change toward a sustainable future within finance, her leadership extends beyond BlackRock to influential roles in the TCFD and the Executive Committee of the ICMA Green and Social Bond Principles.
Ashley is also an Aspen Institute First Movers Fellow and sits on the board of the Mianus River Gorge, the first land conservancy project for the Nature Conservancy, which showcases her commitment to sustainability.
This episode highlights the power of integrating ESG data into investment analysis and decision-making. Ashley also shares how she saw the birth and development of the green bonds market, explaining how they work, and how BlackRock was an early adopter of this transformative financial instrument.
By leveraging green bonds, impact investing, and ESG data, BlackRock not only achieves its desired risk profiles and outcomes for investors but also drives meaningful change in the real economy.
Ashley and I also discuss BlackRock’s PEXT/NEXT ESG framework that her team uses to evaluate, tag, and categorize investments based on their positive and negative externalities.
Ready to learn the ins and outs of green bonds and ESG fixed-income investing? Tune in.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
Intro (00:00) Meet Ashley Schulten and learn about her background (03:00) Ashley’s evolution from options trader to Head of ESG of Global Fixed Income at BlackRock(13:22) An overview of BlackRock & its sustainable strategies (21:09) Green bonds & the role of publicly traded bonds in sustainability (25:50) ESG criteria in investment analysis & an explanation of PEXT/NEXT (34:31) ESG-integrated vs. ESG-tilted portfolios & examples of ESG fixed-income funds (46:58) The evolution of green bonds into a trillion-dollar market & their role in sustainable finance (57:32) Measuring impact on fixed-income portfolios & issuer engagement (01:05:22) Final thoughts & rapid fire questions (01:13:50)