Explorez tous les épisodes du podcast SRI360 | Sustainable & Responsible Investing, Impact Investing, ESG, Socially Responsible Investing
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95% of Emissions, 14% of the Capital: The Bond Market Mispricing in Plain Sight
01 Jul 2026
01:26:00
Most people think a green or sustainable label on a bond means it is good for the planet. Often, it does not. A label only tells you what the issuer says it will do with the money. It does not prove that real change happens on the ground.
That gap is the heart of this episode of SRI360. I'm joined by Elizabeth Alm, Senior Investment Analyst and Portfolio Manager at Saturna Capital, the oldest and largest Sharia asset manager in the United States. Elizabeth helps run the firm's global sustainable bond fund and its Islamic income fund. Her core belief is simple: that bonds play a central role in financing the transition to a cleaner economy.
Elizabeth did not take the usual path into finance. She studied economics and anthropology at NYU and once dreamed of becoming an archaeologist. It took her 50 interviews to land her first job. She opened Excel for the first time on her first day of work, and her first week on a trading desk was the week Bear Stearns collapsed in 2008. Eleven years at Wells Fargo followed, working in municipal bonds as climate risk slowly began to show up in credit.
Today she puts less weight on third-party ESG scores and looks for what she calls “climate alpha” — value the market has not priced in yet. In this conversation we cover how sukuk (Islamic bonds) work, why investors who are not Muslim are buying them, and what she learned on a month-long research trip across the Middle East that ended just five days before the Israel-US-Iran war broke out.
In this episode we discuss:
Why a bond's label tells you the plan, not the real-world impact
How sukuk (Islamic bonds) work, and why they must be backed by real assets
Why investors who are not Muslim are buying sukuk
A bond she loves: Tabreed, the UAE cooling company that cuts emissions
Why sovereigns with high physical climate risk are 18% more likely to default
How satellite monitoring helped identify and mitigate 30,000 child-labor cases in a cocoa supply chain
The wave of AI data-center debt, and why she is cautious about it
Featured guest:
Elizabeth Alm,Senior Investment Analyst and Portfolio Manager at Saturna Capital
From Goldman Sachs to Excel Hell: Measuring Sustainability that ESG Ratings Miss
24 Jun 2026
01:32:19
Most investors assume an ESG rating tells them how sustainable a company is. It doesn’t. An ESG rating measures the financial risk environmental, social, and governance factors pose to the company — not the company’s actual impact on people and the planet.
That distinction sits at the center of this episode of SRI360. I’m joined by Samantha Duncan, Founder and CEO of Net Purpose, a data platform now supporting clients managing approximately twenty trillion dollars in assets and built to measure what ESG ratings don't.
Samantha's story starts at Goldman Sachs, where she worked on healthcare M&A through the 2008 financial crisis, watching transactions that changed the cost of pathology and shut down rural medical centres get evaluated on one metric and one metric only: earnings per share. Reading about Muhammad Yunus and the Grameen Bank at the height of that disconnect was the thing that finally pulled her toward the door — and in 2009 she resigned and moved to Trujillo, Peru, to run a microfinance program for a children's NGO — an experience that taught her, counterintuitively, that charging the women she worked with commercial interest rates was more empowering than giving them aid on charitable terms.
From there she joined LeapFrog Investments as Head of Impact, building one of the industry’s first rigorous frameworks for measuring social and financial performance together. It was there, buried in spreadsheets manually extracting numbers from PDFs, that she hit what she now calls “Excel hell” — the realization that the industry lacked the data infrastructure to make its sustainability commitments real. That realization became Net Purpose, founded in 2019 to do for sustainability data what Bloomberg and FactSet did for financial data.
In this episode we discuss:
• Why ESG ratings measure financial risk to the company, not the company's impact on the world
• How Net Purpose calculates the percentage of a company's revenue that is genuinely sustainable
• What it means that only 16% of a global index is truly sustainable — and why the other 84% is a financial risk problem, not just a moral one
• The October 2025 acquisition of the SDI Asset Owner Platform, co-founded by APG, PGGM, AustralianSuper, and BCI
• Why sustainability, impact, and ESG still need clearer shared definitions
• What it will take for impact measurement to become as mainstream as profit
From Mud Huts to Brick Houses: Venture Capital & Climate Resilience in Africa
11 Mar 2026
01:26:51
Climate finance conversations often focus on mitigation. However, the question Tamer El-Raghy raises is more structural: what if one of the most compelling climate investment opportunities lies in helping smallholder farmers adapt?
In this episode of Sustainable & Responsible Investing 360, I’m joined by Tamer El-Raghy, Managing Director of the Acumen Resilient Agriculture Fund (ARAF).
Tamer leads one of the first investment vehicles dedicated to climate adaptation in agriculture across Africa, backing early-stage companies that help farmers improve productivity, stability, and resilience in the face of changing climate conditions.
We discuss why agriculture remains chronically undercapitalised despite its central role in global food systems, and how blended finance structures, including first-loss capital from development institutions, can unlock mainstream investment into frontier markets.
Tamer also explains why successful agribusiness models often function as platform businesses, bundling financing, inputs, technical support, and market access to solve multiple farmer constraints at once.
What stayed with me is the simplicity of his impact lens: when farmers move from mud huts to brick houses, it signals something deeper than income growth. It reflects stability, dignity, and the foundations of long-term resilience.
Featured Guest Tamer El-Raghy, Managing Director of the Acumen Resilient Agriculture Fund (ARAF)
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)
Scaling Purpose-Driven Startups with Impact Venture Capital | Impact Evangelist, Gordon Eichhorst (#035)
26 Feb 2024
01:45:58
Imagine your portfolio as a catalyst for change, where each investment contributes to solving the world's most pressing social and environmental challenges. That's the promise of impact investing.
Today, we're discussing everything you need to know about impact venture capital investing with a guest whose career trajectory embodies this ethos like no other—Gordon Eichhorst, a trailblazer in impact venture capital.
Gordon's journey into investing begins unconventionally. While he studied both engineering and economics at UCLA, he started his professional life by designing and launching spacecraft as an aerospace engineer and member of the NASA Advisory Council.
With the dip in aerospace developments in the '90s, Gordon found a renewed interest in economics, particularly in analytic finance, leading him to pursue an MBA from the University of Chicago. It was on this path that he positioned himself in leading roles as an investment banker at Goldman Sachs and later on, at Morgan Stanley, where he led the European technology banking team during the first internet bubble.
After his time at HSBC as Global Head of the Industrial and Technology sectors, he settled down in London and set up an investment banking advisory boutique, which ultimately seeded the ideas for making a bigger impact on the world.
As the founder of Impact Central, and a General Partner at Opto Impact Ventures, Gordon has been at the forefront of supporting purpose-driven entrepreneurs and startups on their path to growth. Impact Central has nurtured over 50 startups through ten cohorts, proving that solving social and environmental problems can go hand-in-hand with generating profit.
Today's episode explores Gordon's multifaceted career, from his early days as an engineer to his crucial role in shaping the arena of impact venture capital.
If you’ve been meaning to invest in or start a business with a greater purpose, listen in and learn all about how Gordon’s VC fund and accelerator programs bring profit and sustainability together.
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.
Gordon Eichhorst’s trajectory from engineer to investment banker (02:34) Founding Opto Impact, Impact Central, and Chorus Network (11:10) Gordon’s approach to impact investing (23:46) Chorus Network, Opto Impact, and startup investing (36:02) Opportunities in consumer goods, public service providers, & Tech for Good (45:45) Gordon’s criteria for making an impact investment in an early-stage startup (51:11) A real-life example of a successful impact investment (01:04:36) Measuring impact and looking out for impact-washing (01:19:40) Impact investing vs. other forms of impact investment (01:24:20) The types of investors at Opto Impact (01:27:44) Gordon’s thoughts on AI and final questions (01:33:35)
CalSTRS CIO, Chris Ailman, on His Visionary ESG Strategy for the World’s Largest Educator-Only Pension Fund (#034)
19 Feb 2024
01:26:30
Does your pension fund contribute to a more sustainable world? CalSTRS does and has been since the 1970s/80s.
To lead this conversation is the very first pension fund guest for SRI 360°, Chris Ailman, one of the world’s most recognized and respected Chief Investment Officers.
Multiple award winner, Chris currently acts as CIO of CalSTRS, managing its $311.5 billion portfolio, making it the second-largest pension fund in the United States and the largest educational pension fund in the world.
With over 39 years of expertise in institutional investment, Chris has become a thought leader in incorporating ESG criteria into his long-term, “patient” capital investing approach.
His journey began with an early fascination with the stock market, leading him from the role of registered rep at Dean Witter to becoming a certified financial planner from USC. His interest in institutional investment carried him through pivotal roles, from Sacramento's county retirement system to the Washington State Investment Board, before landing at CalSTRS in 2000.
Chris has not only placed CalSTRS as a beacon of sustainable investing but has also been recognized globally for his innovative investment approach. He’s also the mind behind the Sustainability Accounting Standards Board, the chair of the 300 Club, and co-chair of the Milken Global Capital Markets Committee.
In this episode, Chris and I reflect on the evolution of ESG investing and its critical role in shaping our planet’s future. His narrative is not just about investment; it's a testament to his belief in the power of long-term investing and the need for a sustainable approach to wealth management.
We also explore the challenges of integrating ESG into traditional investment frameworks, the importance of shareholder engagement and corporate governance, and the future of sustainable investing.
Tune in to this conversation to gain valuable insights from one of the world’s most influential figures in pension fund management and sustainable investing.
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 An overview of the CalSTRS portfolio (17:14) Chris’ theory of change on long-term capital investing (24:09) The ins and outs of ESG investing strategy (25:40) Sustainable investing, shareholder engagement, and corporate governance (40:26) The CalSTRS net-zero emissions pledge (49:13) Chris’ thoughts on nuclear power (55:00) Differences between how Europe & USA view ESG (59:26) Sectors making progress towards global sustainability (01:06:01) Sustainability initiatives that Chris is involved in (01:12:13) Final questions for Chris (01:15:42)
The Key to Successful Renewable Energy: Investing in Battery Energy Storage Systems w/ Ben Guest, Gresham House Energy Storage Fund (#033)
12 Feb 2024
01:26:03
The transition from traditional investment in energy production to renewable energy represents a significant shift in addressing climate change challenges.
To help us understand the intricacies of investing in renewables and utility-scale battery energy storage systems, I am joined by Ben Guest, the Managing Director of Gresham House New Energy Division.
Ben has over 29 years of investment experience that spans the investment spectrum across infrastructure, technology, public equities, and venture capital asset classes.
He has been a pioneer investor in battery energy storage systems since the early development days of the sector.
Ben's upbringing was truly global, with parents from Argentina and Africa, leading to diverse educational experiences in France, Japan, Sweden, and the UK. He holds a BEng in Mechanical Engineering from Imperial College.
Beginning his fund management career in 1994 at Lazard Asset Management, Ben later founded Hazel Capital in 2007. The acquisition of Hazel Capital in 2017 transformed it into Gresham House New Energy Division, where Ben manages substantial assets, including the Gresham House Energy Storage Fund Plc.
The conversation delves into Ben's expertise—in the renewable energy sector, particularly battery energy storage systems. He discusses the challenges of real-time supply and demand balancing, highlighting the vital role batteries can play in not only stabilizing the grid but also providing the key to transitioning the electrical grid to predominately renewable energy.
Ben breaks down the complexities of battery energy storage systems revenue models, addressing challenges posed by supply and demand fluctuations. He also shares his thoughts on the future of renewable energy infrastructure, emphasizing sustainability, carbon emissions reduction through battery energy storage systems, and the evolving landscape of the energy transition.
I hope you enjoy my conversation with Ben as much as I did!
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) Ben Guest's background and career path (02:24) The shift from traditional to sustainable energy investments (15:24) The role of battery storage in renewable energy (38:32) Energy trading and battery management (47:22) Assembling project rights for energy storage infrastructure (52:23) Renewable energy investments and impact metrics (59:55) Primary investors at Gresham House (01:05:58) Risks facing battery energy storage systems investments (01:10:18) Challenges around battery production and usage (01:15:10)
Inside Paul Miller's Pioneering 'Tech for Good' VC Investment Strategy (#032)
29 Jan 2024
01:26:47
In this episode, I speak with Paul Miller, Managing Partner and CEO at Bethnal Green Ventures, which has invested in over 150 startups that aim to create a more sustainable planet, an inclusive society, and healthy lives.
Paul is a trailblazer who spearheaded early-stage impact venture capital investing in the early 2010s at a time when this was highly unusual for VCs to do.
He was awarded an Officer of the British Empire award for services to startup investment in 2020.
Miller's early exposure to social and environmental issues, thanks to his parents' activism, laid the foundation for a unique perspective later in his career.
His stint as a policy advisor at Forum for the Future marked a pivotal period, working on sustainability with tech giants like Amazon and Vodafone.
This experience fueled a desire for a more direct impact, leading Miller to venture into the startup scene. In 2006, the School of Everything was born – a groundbreaking attempt to revolutionize adult education.
Around 2012, as the School of Everything continued to pioneer adult education, Miller's focus expanded to co-founding Bethnal Green Ventures. Securing an initial investment of approximately £150,000 from Nesta, a UK foundation, Bethnal Green Ventures took flight.
Google provided office space, and the venture attracted mentors and contacts to nurture the startups. Paul’s venture into impact venture capital with Bethnal Green Ventures was a pioneering move, especially considering the prevailing industry norms around 2012.
At a time when impact investing was in its nascent stages, Paul brought a level of authenticity and maturity to the venture capital landscape.
Today, he'll be taking us through his 'Tech for Good’ approach, investing in early-stage companies aiming for both high growth and positive social or environmental impact.
I hope you enjoy my conversation with Paul as much as I did!
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.
Michael O'Leary on Shareholder Activism, Citizen Capitalism, and Impact Investing in the Consumer Sector (#031)
15 Jan 2024
01:31:02
In the fast-evolving world of impact investing, few individuals stand out as prominently as Michael O'Leary. Recently appointed as a Partner and Co-Head of L Catterton Impact Fund, Michael has a wealth of experience and a compelling vision for responsible capitalism.
Formerly a Managing Director at Engine No. 1, Michael made headlines globally by orchestrating one of the most successful impact-focused activism campaigns in history.
Despite holding a mere 0.02% of share capital, Engine No. 1 successfully replaced three members of Exxon's board, underscoring the potency of impact activism.
He was also on the founding team of Bain Capital's impact fund and invested in consumer, industrial, and technology companies through Bain Capital's private equity fund.
Now, at L Catterton, one of the world's foremost private equity funds specializing in consumer brands, Michael leads the charge in integrating sustainability and impact considerations into the firm's investments.
Michael's co-authorship of 'Accountable: The Rise of Citizen Capitalism' further illustrates his commitment to shaping the future of capitalism. The book delves into the promises and challenges of the sustainable investing movement.
With a solid educational background, including a BA in Philosophy from Harvard University and an MBA from the Stanford Graduate School of Business, Michael combines academic rigor with real-world impact.
In this episode, he shared a lot of insights into
- Shareholder activism for sustainability and development
- Citizen capitalism
- Impact investing in the public markets
- Impact investing in the consumer sector
- And much more.
I really learned a lot from my discussion with Michael, and I hope you will too!
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.
Demystifying ESG & Impact Investing: How To Create Measurable Change w/ Harald Walkate (#030)
04 Jan 2024
01:19:13
In this episode, I am joined by Harald Walkate. Harald isn't just another voice in the sustainability space. He's a seasoned navigator, guiding us across the complex landscape of ESG and impact investing.
With 25 years of experience, he's seen both sides of the table, working with major asset managers and corporations. This unique perspective fuels his passion for bridging the gap between good intentions and real-world impact. He's a champion of blended finance, a powerful tool that blends public and private resources to tackle urgent challenges like climate change and poverty.
Born in Leiden, Netherlands, Harald Walkate studied law at Leiden University, later venturing into corporate law at Allen & Overy. After obtaining an MBA from the University of Chicago, Harald moved into business development at Bally Total Fitness, then shifted to Aegon, focusing on mergers and acquisitions.
At Aegon, he became the Global Head of Responsible Investment, leading to a move to Natixis in 2019 as the Head of ESG. In 2022, he founded Finding Ways Ahead, and in 2023, he initiated Route 17, an SDG funding & blended finance advisory firm.
In this enlightening conversation, we explore Harald's insights on ESG, impact investing, and the often misunderstood realm of blended finance.
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) Harald Walkate’s career journey (02:17) How impact investing can make a difference (14:54) Appreciation of the global financial markets (21:43) Topics most misunderstood in ESG and impact investing (26:27) ESG investing in the US (30:24) The best evidence that the EGS toolkit enhances return (34:35) Measuring the real-world impact of ESG investing (40:14) Sustainable finance vs financing sustainability (43:38) Blended finance for sustainable investing (01:04:51)
Shorting for Change: Nordis Capital's Unique Strategy to Influence ESG Policies in Public Equities w/ François Bourdon (#029)
18 Dec 2023
01:12:53
In the world of hedge funds, where the focus on environmental, social, and governance (ESG) factors is often considered secondary, Nordis Capital stands out as a pioneer.
Born in a small farming town near Montreal, François Bourdon's journey into sustainable investment is as unique as the hedge fund he co-founded. From working in agriculture to earning the moniker "Mr. Risk Manager" on the trading floor, Francois's diverse experiences shaped his path.
After pursuing actuarial mathematics at Concordia University, François joined MetLife and later transitioned to risk management. Subsequently, he held diverse roles at Fiera Capital, ultimately becoming Chief Investment Officer.
He later joined Sustainable Market Strategies (SMS) with the goal of creating Nordis, a hedge fund built from the ground up around responsible investing.
Nordis Capital's mission is to contribute to the fight against climate change and social inequality through sustainable market strategies. What sets them apart is their commitment to long positions aligned with ESG megatrends and their unique approach of taking short positions against companies that fall short on sustainability metrics.
Nordis Capital identifies five ESG megatrends that will transform economies and societies, forming the basis of their investment approach.
Tune in to this episode to learn more about François Bourdon's journey and how Nordis Capital is pioneering responsible investing in the hedge fund landscape.
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) Bourdon's journey into SRI (02:30) Nordis Capital's mission and strategies (18:31) Who are the investors of Nordis (21:29) 5 ESG megatrends (26:14) Nordis investment process (36:27) Double materiality analysis (47:08) Why are other players not pricing ESG (50:30) How sustainable investing impacts corporate behavior (53:40) The future of sustainable investing (01:00:27)
Working Capital Fund's Fight Against Labor Exploitation in Global Supply Chains (#028)
04 Dec 2023
01:08:43
In this episode, we explore Ed Marcum's unique journey from Santa Cruz to leading the charge against labor exploitation as the Managing Director of Working Capital Fund.
Marcum's career choices were heavily influenced by his parents' commitment to social activism. After studying political science at UC Berkeley, Marcum had a brief but impactful tennis career, instilling in him lessons of resilience and hard work.
Following his tennis stint, Marcum recognized the need to integrate business skills into mission-driven work. Pursuing an MBA at Wharton broadened his skill set, opening the door to impact investing. This transition began at the Omidyar Network, working for Pierre & Pam Omidyar and focusing on human rights issues.
Within Humanity United, Marcum spearheaded efforts against labor exploitation in multinational companies' supply chains. Identifying technological innovations to tackle supply chain issues, Marcum laid the groundwork for the Working Capital Fund. Initially incubated within Humanity United, the fund became an independent entity in 2020, marking a pivotal moment in its evolution.
They invest in startups offering scalable solutions to enhance supply chain accountability, promoting a more equitable and sustainable global supply chain ecosystem.
Marcum highlights a significant change in recent years – the global push for supply chain transparency. Companies must now take responsibility for knowing who is in their supply chain and ensuring responsible practices. This shift creates a vast and growing market for investments aimed at improving transparency and accountability.
I enjoyed my discussion with Ed and learned a lot about the dark side of global supply chains.
About the SRI 360° Podcast: The SRI360° 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) Ed Marcum's career journey (02:43) Working Capital Fund (09:39) Who is in the global supply chains? (16:30) The scale of the labor exploitation problem (21:27) What constitutes labor exploitation (24:34) Working Capital Fund's theory of change (28:20) How Working Capital Fund deploys capital (39:49) Investment selection process for the fund (41:33) Red flags to look out for in supply chains (55:03) Outro (01:06:29)
Additional Resources Ed Marcum’s LinkedIn Working Capital Fund Twitter/X Company Website
Alpha Strategy: Eliminating Bias to Unlock 4X Venture Outperformance
05 Mar 2026
01:42:32
In venture capital, credibility is often framed around access, networks, and pattern recognition. This episode challenges that foundation by asking a harder question: what if the industry’s biggest blind spot is also its most persistent source of mispriced opportunity?
My guest this week is Sharon Vosmek, CEO and Managing Partner of Astia. With more than two decades of early-stage investing experience, Sharon has built one of the most structured bias-mitigation processes in venture through Astia’s Expert SIFT methodology. A documented and disciplined system designed to eliminate individual, network, and process bias from investment decisions.
Sharon explains why the gender gap in venture funding is better understood as a market inefficiency, and how removing warm-introduction gatekeeping meaningfully expands high-quality deal flow.
We also discuss:
How to recognize and eliminate pattern-matching bias in investment decisions
The alpha thesis: Why inclusive teams generate 4x average returns
How to reframe impact investing in the U.S. market by emphasizing values-based returns
This conversation examines inclusive investing not as concessionary capital, but as a rigorous venture discipline designed to capture overlooked alpha.
Featured Guest Sharon Vosmek, CEO & Managing Partner, Astia
Andrew Behar on Unleashing the Power of Shareholder Advocacy to Drive Change (#027)
20 Nov 2023
01:29:37
Andrew Behar, the CEO of As You Sow, is a well-known advocate for shareholder advocacy. With a rich background in documentary filmmaking, entrepreneurship, and technological innovation, he brings a unique perspective to shareholder advocacy.
Behar's journey as a shareholder advocate was influenced by his personal experiences. Growing up near Long Island Sound in Connecticut, he witnessed the environmental impact of industry on his surroundings. These early observations of environmental degradation left a lasting impression on him.
Before dedicating himself to shareholder advocacy, Behar explored entrepreneurial endeavors, including a medical device company that earned him five patents and demonstrated his commitment to using technology for positive change.
Behar then transitioned to As You Sow in 2010. As CEO of a nonprofit organization, he began advocating for values-aligned investing and using shareholder influence to drive corporate responsibility.
Behar emphasizes that As You Sow practices shareholder advocacy, which focuses on engaging with companies to improve their practices. Shareholder activism, on the other hand, often involves taking over boards or liquidating companies, a different approach that doesn't align with As You Sow's goals.
The core philosophy of As You Sow is to compel companies to reduce material risks on various issues, including climate change, diversity, equity, inclusion, and more. Under Behar's leadership, As You Sow has developed valuable tools to empower shareholders, including the Investor Value Tool and As You Vote Tool.
The goal is to create a win-win situation where companies make responsible decisions that benefit all stakeholders.
In this episode, we'll explore Behar's journey and the core principles of shareholder engagement, shedding light on how it works, where it falls short, and how it can be improved.
I really learned a lot from my discussion with Andrew, and I hope you will too!
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 on 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.
Andrew's journey into shareholder advocacy (06:55)
Our rights as shareholders (15:31)
The concept of materiality in advocacy (22:18)
Investor Values and As You Vote Tools (25:23)
Shareholder activism vs shareholder advocacy (38:48)
Successful engagement campaigns (45:38)
As You Sow escalation process (50:31)
Driving change amidst culture wars (01:03:44)
Is Shareholder Advocacy always a win-win (01:04:38)
What asset managers need to do differently (01:08:54)
Disclosure issues with private equity (01:20:17)
25 Years of Biodiversity Impact Investing in Latin America, Empowering Communities with a Women-Run Fund | Tammy Newmark, EcoEnterprises Fund (#026)
08 Nov 2023
01:19:38
In this episode, I am speaking with Tammy Newmark, CEO and Managing Partner of EcoEnterprises Fund. Billed as ‘An Investment Fund for Nature’, EcoEnterprises Fund has pioneered investing in small businesses in Latin America that preserve the integrity of natural capital while contributing to local economies and biodiversity.
Originally an “East Coast Girl”, Tammy completed her undergraduate studies at Smith College in Massachusetts in the US. Following her studies, a desire to move to New York and her mother’s serendipitous cocktail party meet led to Tammy working at JP Morgan Chase, which was her first step into the world of finance. Tammy then went on to study for an MBA at the Wharton School of the University of Pennsylvania, before moving to Washington DC, where she worked for the International Finance Corporation.
Tammy has been a pioneer and a leader in the impact investing space for over thirty years, and in this episode we join her impact journey, starting at the IFC, moving on to a start-up venture fund, the Environmental Enterprises Assistance Fund, then to Technoserve and finally The Nature Conservancy, where the EcoEnterprises Fund was first launched by Tammy in 1998, before spinning off as an independent women-run investment manager in 2010.
In this episode, we discover more about EcoEnterprises Fund, their mission and why they focus solely on Latin America. We hear about their typical investor profile and what attracts them to natural capital. We discuss EcoEnterprises Fund’s investment process and the screens and due-diligence used when verifying investments and why they only invest in companies that have working partnerships with local communities, to ensure a vested interest among all stakeholders for the long-term sustainability of natural resources.
Tammy provides some real-life examples of companies that the EcoEnterprises Fund have invested in and how they have made an impact. We talk about potential problems with transparency in supply chain, impact washing, and of course, no episode would be complete without my rapid-fire questions.
I really enjoyed this insightful discussion with Tammy, and I hope you enjoy it too!
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on how they developed and executed their investment strategies and what challenges they face today.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
How Lendlease Creates Sustainability Real Estate Returns, Positive Social Impact, Spaces Where Communities Thrive, Journey to Carbon Net Zero & More | Micah Schulz, Lendlease (#025)
20 Oct 2023
01:17:16
In this episode, I am chatting with Micah Schulz, Head of Office at Lendlease Australia.
Micah grew up on the Sunshine Coast in Queensland, in a farming area, and living on what he describes as a ‘hobby farm’, with horses, cows, and chickens. He studied Business Management, majoring in Real Estate & Development at the University of Queensland in Brisbane, a decision which could perhaps be attributed to serendipity, rather than a lifelong desire to work in this field. Having thought about a career in Physiotherapy, he was advised against this by a Physiotherapist, who told him the latter was boring and would destroy his hands! At the time, his now brother-in-law was working as a real estate valuer, and the idea of travelling around (and the idea of working in an office on the beach like his brother-in-law!) led Micah to the idea of a career in this field.
Following a season on the slopes of Whistler, B.C., Micah began his career at Colliers International, working as Sales Assistant to the sales team. Micah recounts how his then-boss planted the idea to work as a fund manager and eventually, he moved to Sydney as Assistant Fund Manager at Investa Property Group. He later landed in his first Fund Manager role at Centuria Capital, but returned to Investa when he was offered the opportunity to work on Investa’s flagship wholesale office fund, attracted by the idea of working with a broader portfolio of large, prominent assets around the country.
Micah shares how he finally landed at Lendlease in 2016, motivated by the scale of their organisation and its global presence, as well as key elements of the strategy of the APPF Commercial fund on which he worked, first as Deputy Fund Manager, and later as Fund Manager.
In this episode, we hear more about Micah’s transition into the sustainable real estate investment space. Micah gives us an overview of Lendlease and how creating powerful outcomes for the end customer is a key part of their strategy. We hear how sustainability is part of Lendlease’s DNA, and this becomes clear as Micah discusses some of the real-life developments that Lendlease have driven, such as the Barangaroo Precinct in Sydney’s central business district.
We discuss the journey to net carbon zero within the real estate space, and Micah shares his optimism on the impact that technological innovation will have on this journey. We talk about Lendlease’s typical investors, their screening and due-diligence process, and much more.
Micah’s passion in his field is clear and I thoroughly enjoyed our conversation. I hope you will too!
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on how they developed and executed their investment strategies and what challenges they face today.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
How Ambienta Invests in Environmental Sustainability for Top-Decile Private Equity Returns | Stefano Bacci, Partner & ESG Manager (#024)
04 Oct 2023
01:00:27
In this episode, I sit down with Stefano Bacci, Partner and ESG Manager at Ambienta, a private equity asset manager that was purpose-built to pursue environmental sustainability investing in resource efficiency and pollution control. Ambienta is the largest private equity fund manager in Europe dedicated to investing entirely in environmental sustainability.
Stefano grew up in Milan, (despite maintaining that he is culturally from Tuscany!). When choosing his career path, he was advised by his parents – both chemists – not to follow in their footsteps if he ever wanted to make any money (!) which led him to study Chemical Engineering at the Politecnico di Milano. He then went on to complete a PhD in Physical Chemistry at the Technische Universität Darmstadt in Germany.
Stefano’s early career took him to Switzerland where he worked for Ciba-Geigy (later acquired by BASF) in numeric modelling. Five years later, a chance conversation with a fellow graduate from his Ciba-Geigy induction period led him to study for an MBA, starting in Helsinki, then transferring to MIT in Boston.
Following his MBA, Stefano spent ten years working in consultancy at the Boston Consultancy Group, which brought him back home to Milan for a year, then on to Stockholm, then to Helsinki where he set up the BCG office and finally to Germany where he spent several years working in the run-up to the ‘dotcom bubble’. It was at this juncture in his life that he decided to switch to investment management and began working at Palamon Capital Partners, where he spent several years, before returning to Italy to work with Ambienta.
In this episode, Stefano takes us on a journey from his studies in chemical engineering right through to the point when Ambienta co-founders Nino Tronchetti Provera and Rolando Polli convinced him that sustainability was the way forward. We learn more about these two people who inspired him in his early days at Ambienta and how his passion for sustainability has grown over the years.
We discuss how Ambienta considers sustainability and ESG as two very different things, and how they invest in businesses where resources are used more efficiently in order to reduce pollution, waste in landfills and improve air and water quality. We discuss how Ambienta measures the impact of their investments, their typical investors, why sustainability is primary in their investment selection, and much more.
I really learned a lot chatting with Stefano, whose passion for environmental sustainability is clear. I hope you enjoy listening to our conversation!
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
The Power of ESG Shorting: How Investing in Sovereign Bonds Impacts Government Policy, BlueBay's Impact-Aligned Bond Fund, and More | Mark Dowding, BlueBay Asset Management (#023)
18 Sep 2023
00:59:06
Mark Dowding is Chief Investment Officer at BlueBay Asset Management. Mark is a macro fixed income specialist who meets regularly in that context with global policymakers and has been actively involved in sovereign ESG engagement. He began his career in 1993 as a fixed income portfolio manager, after earning his economics degree at the University of Warwick.
In today’s episode, Mark speaks about his early career, how he came to be the Head of Global Fixed Income at Invesco at only 28 years of age, his move to Frankfurt to work with Deutsche Asset Management and why he chose to move with his family back to the UK, where he joined BlueBay Asset Management in 2010.
We discuss his time at the University of Warwick and whether Warwick lives up to its title of the happiest place to live in Britain! Mark tells us about his love of football and his support of Chelsea F.C. and then we move onto the more serious stuff, with an overview of BlueBay and Mark’s role as Chief Investment Officer.
We hear how BlueBay incorporates ESG criteria into all of their investment decisions, and how they have incorporated ESG analysis into their investment teams rather than structuring it as a separate research function. Mark shares real life examples of their engagement activities with sovereign issuers, how they have shorted bonds of issuers who they perceive as performing poorly from an ESG perspective and how their investing strategies in sovereign bonds have impacted government policy and behavior.
No fixed income ESG discussion would be complete without talking about greenwashing, and we discuss to what extent this practice exists at the sovereign level. We speak about BlueBay’s Impact Aligned Bond Fund and finally, I quiz Mark with some rapid fire questions such as the single most important challenge in the fixed income space, and his advice on how to get into the sustainable fixed income space.
I thoroughly enjoyed this insightful discussion with Mark and I hope you will too!
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
High Yield Sustainable Fixed Income: How SDGs + Engagement outperform index, deliver positive change to society & environment | Mitch Reznick | Head of Sustainable Fixed Income, Federated Hermes (#022)
25 Aug 2023
00:51:31
Mitch Reznick is the Head of Sustainable Fixed Income at Federated Hermes and the Co-Portfolio Manager of the company’s SDG Engagement High Yield Credit Fund. With over 23 years experience in the corporate credit industry, he was previously the Co-Head of Credit Research for the global credit team at Fortis Investments, and prior to that was an associate analyst in the leveraged finance group at Moodys Investors Service in New York.
Mitch has a Master’s in International Affairs from Columbia University, a Bachelor’s in history from Pitzer College and is a CFA charterholder. He is Co-Chair of the Federated Hermes Sustainability Investment Centre and holds several advocacy roles, including founding board member of the European Leveraged Finance Association (ELFA); Co-Chair of the Credit Risk and Ratings Advisory Committee at the Principles for Responsible Investment (PRI) and workstream member CFO Coalition for the SDGs of the United Nations Global Compact (UNGC).
Formerly, Mitch was Co-Chair of the Capital Markets Advisory Committee of the IFRS Foundation; member of the Sovereign Working Group (PRI); workstream member of the UK-China Green Finance Task Force; and served on the Green Finance Advisory of the City of London.
In today’s episode, Mitch recounts that it was early in his career while working in the leveraged finance team at Moody’s that he fell in love with finance in general and specifically with the high yield corporate credit world. He later moved to London as a high yield fund manager for Fortis Investments and then left in 2008 for Federated Hermes as part of a team hired to rebuild the credit business in the wake of the global financial crisis.
Mitch discusses how early on he observed that Federated Hermes was well-placed to bring sustainable fixed income solutions to the market and since then he has been focused on ESG integration and building investment solutions that deliver financial returns while delivering positive change for society and the environment with engagement being the catalyst. Mitch describes in detail the Federated Hermes SDG Engagement High Yield Credit Fund which he is Co-Manager. He discuss at length the UN Sustainable Development Goals, and what they mean in the fixed income space.
We talk about greenwashing, ‘greeniums’, ‘step-ups’, transition bonds and much more.
Mitch is active on a number of technical working groups and work streams that are currently developing the connection between sustainability and fixed income investments. As a representative of a large investor in the fixed income space, he is very much in the flow of this evolution and represents the current thinking on the subject.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
AI-Enabled Sustainable Investing: The Mainstreaming of ESG, How AI & ESG Analytics Are Revolutionizing Sustainability & Investing | Daniel Klier, ESG book (#021)
09 Aug 2023
00:47:39
Daniel Klier is CEO at ESG Book, part of the Arabesque Group, a global group of financial technology companies offering sustainable investment, advisory and data services through their advanced ESG and AI capabilities. Prior to joining Arabesque, Daniel was Global Head of Sustainable Finance for HSBC, where he developed the global climate strategy for the bank and led the development of the sustainable finance business across the corporate bank, retail bank, and asset management business. He joined HSBC in 2013 as Group Head of Strategy in London, following nine years as a Partner at McKinsey & Company.
Daniel is a member of the Board of Sustainable Energy for All and has also chaired the Bank of England Climate Risk Working Group and the Sustainable Finance Working Group at the Institute of International Finance.
At the time of our discussion, Daniel was CEO of Arabesque S-Ray, the predecessor to ESG Book, so when we refer to Arabesque S-Ray in our discussion, we’re essentially talking about what is now ESG Book. In this episode, we talk about how Daniel came into the world of sustainable finance from a more traditional private equity and financial services background. We hear an overview of Arabesque and their mission to mainstream sustainable finance and we discuss what quantitative investing actually means.
Daniel explains more about what was, at the time of our discussion, the Arabesque S-Ray artificial intelligence platform and how it allows companies to customize their investment strategies. We look at greenwashing in the public equities landscape and how Arabesque protect against this in the algorithms used in their AI technology. We discuss how Arabesque S-Ray differs from competing ESG data providers, and Daniel introduces us to the ESG Book initiative, which at that time had not yet been launched.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Revolutionizing Sustainable Agriculture: Real Asset Investing in Hi-Tech Controlled Environment Greenhouses, Distributed Abundance & More | Dave Chen, Equilibrium (#020)
24 Jul 2023
00:44:17
Dave Chen is CEO at Equilibrium, a sustainability driven, real asset investor in the agriculture and food, and carbon transition infrastructure. He is responsible for strategy, executive leadership, and developing the firm’s investment products and asset strategies. Dave is a preeminent thought leader in sustainable real asset investing, particularly in the realm of agriculture and food investments that achieve measurable impact investment results while realizing financial returns attractive to institutional investors.
Prior to joining Equilibrium, Dave was General Partner at OVP Venture Partners, CEO/Co-Founder of GeoTrust (acquired by VeriSign in 2006); Founder of The Ascent Group; and served on the San Francisco Federal Reserve Bank Board.
Dave is an Adjunct Professor of Finance at the Kellogg School of Management at Northwestern University and taught sustainable finance and impact investing at Stanford Graduate School of Business from 2011 to 2013.
In today’s episode, Dave gives an overview of Equilibrium, provides insight into the genesis of Equilibrium’s founding, discusses how value chain analysis is in their DNA and how he philosophically considers sustainability and sustainable investing as a competitive advantage. He speaks about how Equilibrium was focused on institutional investors from the beginning and how today they make up 90% of their clients. Dave describes Equilibrium’s four main funds, including their Controlled Environment Foods Fund, and he speaks about what he calls ‘Distributed Abundance’ where hi-tech, controlled environment agriculture disconnects climate from geography enabling the ultimate ‘Do-It-Yourself’ and ‘Bring-Your-Own’ climate anywhere on earth.
We delve deeper into this concept of ‘Distributed Abundance’ and the countries at the center of controlled environment technology, the potential for this technology to develop and move into other food categories in the future, and how we will see a complete ‘rethinking of agriculture’ in the years to come.
I really enjoyed this insightful discussion with Dave, and I hope you will too!
Show notes: https://sri360.com/podcast/dave-chen
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Microfinance & Impact Investing at Scale: BlueOrchard CEO, Philipp Mueller on Empowering Entrepreneurs, Transforming Lives, Driving Positive Social Change, and More…(#019)
03 Jul 2023
00:44:41
Philipp Mueller is Chief Executive Officer of BlueOrchard, a leading global impact investment manager and member of the Schroders Group, that connects millions of entrepreneurs in emerging and frontier markets with investors. Philipp joined BlueOrchard in 2018 from Partners Group, where he served in a number of capacities in Switzerland and in the UK, most recently as Senior Vice President of Investment Solutions. Phillipp holds an MBA from ETH Zurich and a master’s degree in Law from the University of Zurich.
During today’s discussion, we discuss Philipp’s time as an Officer in the Mountain Infantry during his time in compulsory military service in Switzerland. Philipp shares how after completing his Masters degree in law he decided to pursue a career in finance instead and he discusses the reasons behind his eventual transition from traditional finance to impact investing, shedding light on his motivations and choices.
We discuss Philipp’s role as CEO at BlueOrchard, the company mission and how they prioritize making a positive environmental and/or social impact, while still achieving market rate financial returns. Philipp explains what microfinance means, its potential to advance financial inclusion, and shares some real life examples of microfinance impact. We speak together about blended finance and how this can change the risk return profile of certain investments in order to attract more private investors, and we look at the broad range of BlueOrchard’s investor profiles and the potential benefits of investing in microfinance as an asset class. Philipp shares his views on the role of advancing technology in impact and microfinance and much more.
Please Note: This interview was conducted on 17 May 2021 - AUM and other facts & statistics cited in this episode will have evolved.
Show notes: https://sri360.com/podcast/philipp-mueller
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Revolutionizing Aquaculture With Impact Investing: Change Agent Amy Novogratz on AquaSpark’s Mission to Transform Global Food Systems, the Ecosystem Portfolio Approach and much more (#018)
07 Jun 2023
00:57:20
Amy Novogratz is Co-Founder of AquaSpark, a global investment fund based in Utrecht, the Netherlands. AquaSpark is a holding company of innovative, novel solutions to some of aquaculture’s biggest challenges, investing in companies developing a sustainable, optimal food system all along the aquaculture value chain.
Amy’s career as a change agent has focused on building collaborative solutions to some of the world’s most pressing challenges. Her early career highlights include helping set up SPAN, the Social Policy Action Network; developing and producing ‘Chat the Planet’, a web and television entity that bridged young people globally; later she served as Director of the TED Conference’s annual TED Prize for almost a decade, leading more than 20 global collaborations across a broad spectrum of sectors, including healthcare, education, science, technology, conservation, art, and activism.
Notable projects during Amy’s time at TED include: Jamie Oliver’s Food revolution, JR’s Inside Out Project, Bono’s One.org and Sylvia Earle’s Mission Blue. It was on an expedition with marine biologist Sylvia Earle to the Galapagos Islands that Amy met Mike Velings, with whom she developed a shared vision to transform the aquaculture fish farming sector into a more sustainable industry, leading to the launch of AquaSpark – the first global investment fund dedicated to sustainable aquaculture – in 2013.
Amy serves on the boards of eFishery, Energaia, and Xpert Sea.
In today’s episode, we discuss the aquaculture industry and the need for its transition into a more sustainable food supply. A natural-born change agent, Amy recounts her odyssey journey starting out early in her career in activist theater which she soon felt was too indulgent. She then did an about-face and worked at a series of jobs, first with a think tank, and moving later to co-found the Social Policy Action Network with the objective of impacting culture. This ultimately led to a number of television-related media projects and eventually landing at the TED conferences.
Amy explains the challenges that the sustainable aquaculture sector faces and the increasing role of technology in finding sustainable aquaculture solutions. We discuss Aqua-Spark’s theory of change and the eight components they use to measure their sustainability. She speaks about AquaSpark’s ecosystem approach to portfolio management, how they select their investments, their due diligence process, examples of investments they’ve made and much more.
Show notes: https://sri360.com/podcast/amy-novogratz
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Scaling Impact & Alpha: Inside T. Rowe Price’s Myth-Busting Impact Fixed-Income Strategies | Matt Lawton
26 Feb 2026
01:39:02
In fixed income, credibility is tested differently, and real world metrics like liquidity, scale, and benchmark scrutiny leave little room for storytelling. This episode examines how impact strategies can operate inside mainstream credit markets without weakening financial discipline or diluting measurable outcomes.
My guest this week is, Matt Lawton, Matt is the Head of Impact Fixed Income at T. Rowe Price, where he leads global credit and emerging market blue bond strategies. With more than 15 years across credit research and portfolio management, Matt has helped build one of the industry’s most structured approaches to impact investing in public markets.
Matt explains how narrowing a broad benchmark to impact-aligned issuers creates focus without conceding returns, and why additionality must be identified ex ante, and not assumed.
Tune in to learn more about:
Why a 60/40 primary-secondary split protects credibility
How the five dimensions of the impact framework for underwriting dual objectives
What a four-pillar ESG bond test reveals about greenwashing
Why impact must deliver market-rate returns by 2030
This conversation is impact investing applied with credit discipline, measurement rigour, and institutional accountability.
Featured guest:
Matt Lawton, Head of Impact Fixed Income at T. Rowe Price
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
LeapFrog Investment's Stewart Langdon | Impact Investing, Helping Millions Out of Poverty (#017)
15 May 2023
01:01:26
Stewart Langdon is Partner and Co-Head of South Asian Investments at LeapFrog Investments, a private equity impact investment firm that invests in financial and healthcare services businesses providing essential services to low-income populations in emerging markets. Stewart leads financial services investments, primarily in India, and digital financial services across Asia and Africa, with a focus on deal sourcing and execution.
Prior to joining LeapFrog, Stewart’s career encompasses corporate finance, investment banking, and capital markets advisory as a vice president at Rothschild & Co. He specialized in the insurance, banking, and telecom sectors across Asia, Africa, and the Middle East.
A member of the Emerging Markets Private Equity Association, Stewart is also a trustee of the Asia Scotland Institute and chairs its business advisory council. He sits on the boards of a number of portfolio companies including WorldRemit, BIMA and Cignifi. He holds a Bachelor of Laws degree from the University of Aberdeen and is a chartered accountant.
In today’s episode we discuss Stewart’s early career and how he made the switch from investment banking to impact investing, joining LeapFrog Investments in 2010. We learn about LeapFrog’s investment decision-making process with both financial return and impact metrics being equally weighted and the financial and non-financial screens they use. Stewart speaks about how LeapFrog verifies and measures the impact of their investments using the company’s FIIRM framework.
Stewart gives insights into LeapFrog’s key areas of competence, how they avoid greenwashing and “impact washing” and he describes the impact of technology on the ability to provide large numbers of people with financial and healthcare services. From the transformative power of technology to their evolving investor profile, he provides valuable insights into the intersection of financial returns, sustainable investing strategies, and measurable positive impact outcomes. During this episode, we look at LeapFrog’s typical investor profile and how this has changed over time, and we hear some real-life examples of investments that LeapFrog has made.
Show notes: https://sri360.com/podcast/stewart-langdon
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Saturna’s Patrick Drum on Islamic Finance, Faith-Based Investing, Sharia Compliance, Sustainable Outcomes, ESG and Much More…(#016)
26 Apr 2023
01:05:21
Patrick Drum leads the Environmental, Social & Governance investment research at Saturna Capital, a private investment management firm with $5.5 billion in assets under management. He is the portfolio manager for Saturna’s Sustainable Global Fixed Income Fund; the Amana Participation Fund (the oldest and largest family of funds in the United States following principles of Islamic finance), and the firm’s institutional subsidiary, Saturna Sdn. Berhad in Kuala Lumpur, Malaysia.
Drum holds a BA in economics from Western Washington University and an MBA from Seattle University Albers School of Business and is a CFA® Charterholder and Certified Financial Planner®.
Previously, Drum was Chairman of the United Nation’s Principles for Investment (UNPRI) Fixed Income Outreach Subcommittee and an adjunct professor of finance for the Sustainable MBA Program at Pinchot’s Bainbridge Graduate Institute.
In our discussion, we hear about Patrick’s early career and how he came to be involved in sustainability back in 2008. We learn that about 50 percent of investors in Saturna’s Sharia compliant funds are not of the Muslim faith and discuss why a non-Muslim investor might be attracted to investing in their funds. Patrick describes the basic tenets of Sharia compliance, he speaks about the debt-like instrument that is called a ‘Sukuk’ and explains how they differ from traditional bonds. We hear about the screens Saturna uses and how each investment goes through a ‘Fatwa’ by a recognised Sharia body, and much more.
Show notes: https://sri360.com/podcast/patrick-drum
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Sustainable Forestry Investing: New Forests' Head of Impact & Advocacy, Radha Kuppalli on her Carbon Forestry Strategy, Climate Change Mitigation, Carbon Finance, the Bio-economy & More…(#015)
11 Apr 2023
01:07:05
Radha Kuppalli is Managing Director of Impact and Advocacy at New Forests, a leading asset manager in institutional funds management business, providing forestry and land-based investment solutions through sustainable forestry investments. Her 20-year career has been focused on driving capital markets toward investing in climate change solutions and sustainable development.
Radha is a director of the Board of New Forests Pty Ltd, member of the company’s Executive Committee, and a member of all Investment Committees. She is also a Non-Executive Director for Timberlink Australia and Greening Australia and chairs Greening Australia’s investment committee. She earned an MBA and a Masters in Environmental Management from Yale, serves on the university’s Advisory Board at the Center for Business and Environment, and is an associate of the Yale World Fellows Program.
In this episode, we discuss Radha’s studies, her early career, the ‘sliding doors’ moments that led to her working at Natsource and joining New Forests back in 2006, and how Radha’s care for the environment has shaped her career. We learn how New Forests select their investments, who their typical investors are and the attractions of investing in forestry as an asset class. We discuss New Forests’ three main regions and the different approaches used in each. And we talk about the California Cap and Trade Scheme emissions trading system, conservation easements, repatriating land back to the Yurok tribe and much more.
Show notes: https://sri360.com/podcast/radha-kuppalli
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Columbia Threadneedle's Simon Bond - Social Bond Impact Investing with Investment Grade Bonds & More (#014)
10 Mar 2023
01:12:33
Simon Bond is Executive Director of Responsible Investment Portfolio Management and until recently, was the portfolio manager of the Threadneedle UK Social Bond Fund and the Threadneedle (Lux) European Social Fund at Columbia Threadneedle Investments, the asset management arm of Ameriprise Financial, which has total assets under management of $593 billion (as of 30 June 2021). With over three and a half decades of experience in the fund management industry, Simon is a recognized specialist in corporate credit.
In this episode, we discuss Simon’s early career, starting as a desk assistant in the investment management department of Hambros Bank under Peter Hill-Wood, and how his enthusiasm and tendency to ask lots of questions led him to work in bonds. We hear how Simon discovered what he calls the soft side of finance, where investing could produce benefits for society. We learn how he conceived and launched the Threadneedle UK Social Bond Fund and the Threadneedle (Lux) European Social Fund, both of which invest in diversified portfolios of fixed income securities, with social impact criteria. Simon explains how his approach to portfolio management includes positive inclusion, evidence-based decision making, and engagement with management. We also talk about how he integrates social impact into everything he does (including his support of premiership football club Tottenham Hotspur!)
Simon is a Fellow of the Chartered Institute for Securities and Investment and holds the Investment Management Certificate and the General Registered Representatives Certificate.
Show notes: https://sri360.com/podcast/simon-bond
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Dutch Entrepreneur Peter Arensman on Agritech Investing, Future Food Fund, Food Supply Chains & more (#013)
13 Feb 2023
01:00:39
Peter Arensman is an experienced entrepreneur and investor in sustainable agriculture and food chains. He is a Founding Partner of the investment company People, Planet, Profit, and the venture capital investment firm, Future Food Fund.
Growing up on a farm in the Netherlands, Peter went on to study for a Masters in Business & Economics at the University of Rotterdam. Following his graduation, he took a job with he American global food firm, Cargill, but soon realized that working for a large corporation wasn’t for him, recognizing he was an entrepreneurial at heart. This led him to first found the IT company, Attecc BV, and then acquire the company, Signal. After eight years, he decided to sell both companies and ‘started again’ at the age of thirty-five, founding the financial professional subcontracting company BAS Consultancy.
In this episode, we discuss how, after reaching a certain level of financial success, Peter realized he gained no satisfaction from earning more and more money and instead found satisfaction in gaining more knowledge. Hence his return to University to study for his third Degree in Agricultural Engineering.
Peter then founded People, Planet, Profit, which was his first venture into responsible investment, and then later he went on to found the VC investment firm, Future Food Fund. In this episode, I discuss with Peter Future Food Fund’s portfolio approach, how they select their investments and you will hear some real-life examples of investments they have made.
A strong business development professional, Peter sits on the boards of several companies, is a Guest Lecturer at Wageningen University, and holds Masters Degrees in Business Economics, Financial Law, and Agricultural Engineering.
I really enjoyed this far-reaching discussion with Peter and hope you will too!
Show notes: https://sri360.com/podcast/peter-arensman
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Founder & CEO of Closed Loop Partners, Ron Gonen on Investing in the Circular Economy, Why it's a Financial Competitive Advantage, Verifying Impact, Measuring Outcomes & Much More… (#012)
06 Jan 2023
00:45:22
Ron Gonen is the Founder and CEO of Closed Loop Partners, a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance, and an innovation center that’s focused on building the circular economy.
Ron spent his early childhood years in Israel, moving to Philadelphia around the age of five. He studied History and Economics at the University of Massachusetts and after graduating, joined Andersen Consulting as a trainee, then moved on to Deloitte Consulting. In 2004 he co-founded RecycleBank while studying for his MBA and then he went on to become New York City’s Deputy Commissioner of Sanitation, Recycling, and Sustainability, during the Bloomberg administration.
In 2013, Ron was named the city’s ‘Public Official of the Year’ by the Natural Resources Defense Council and Earth Day New York. Throughout his career, he has earned numerous business and environmental awards, including recognition as ‘Champion of the Earth’ by the United Nations Environment Program and receiving a Medal of Excellence from Columbia University, where he earned his MBA and later served as an Adjunct Professor in its business School from 2010– 2018. In 2021, he received the Social Enterprise Center Award for Excellence in Teaching. A former member of the Council on Foreign Relations and Henry Catto Fellow at the Aspen Institute, he holds multiple recycling industry technology and business method patents.
In this episode, we learn more about the circular economy and why it has a clear competitive financial advantage. We hear about Closed Loop Partners’ investment strategy, as well as some real-life examples of circular economy investments they have made. Ron shares how he verifies impact and measures outcome, and we learn how Closed Loop Partners’ Innovation Center came about.
Show notes: https://sri360.com/podcast/ron-gonen
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
FORE Partnership's Basil Demeroutis on Integrating the "E" and "S" of ESG in the Built Environment, Delivering Social & Environmental Outcomes in Real Estate Investing, and Much More (#011)
12 Dec 2022
01:04:45
Basil Demeroutis (@Basil_FORE) is the Managing Partner of FORE Partnership, a purpose-driven real estate investment firm active in the UK and Western Europe. Basil founded FORE Partnership believing in a low carbon future in which property can be a force for social good and his mission has been to prove that driving environmental sustainability and positive social outcomes is good for investors’ financial returns. Basil is passionate about sustainable property and has aligned FORE Partnership’s investment strategy with his, and the company’s investors’ core values.
Born in Toronto, Basil studied Aerospace Engineering at Cornell University thinking that he would work for NASA or at the Jet Propulsion Lab building rovers and spacecraft. In the end, after he graduated, he changed his mind and began his career in finance at the Bankers Trust analyst training program in the United States, after feeling that engineering was too slow moving for him in terms of making an impact. After five years there, he moved to Bear Stearns and eventually moved to London.
After spending a total of eleven years in asset finance, where he was financing everything from ships and aircraft to satellites and real estate, Basil made the move from advising people on real estate investing, to actually becoming an investor in real estate and joined Jargonnant Partners in Germany, as Managing Partner. In 2008, he became a Partner at Capricorn Investment Group, the family office of Jeff Skoll, before founding FORE Partnership in 2012.
In this episode, we discuss the integration of social and environmental impact in the built environment, 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, and we get a true definition of social impact and what it really means. We discuss how social impact can be measured in the real estate arena and the future of biodiversity within real estate investment. Basil also discusses why he decided to forgo a typical private equity structure that pits GPs against LPs when he set up FORE’s unique ‘club’ structure, how FORE became one of the first real estate investors to become a certified B Corporation, and a whole lot more.
Show notes: https://sri360.com/podcast/basil-demeroutis
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Impact Investing Pioneer Jean-Philippe de Schrevel on Bamboo Capital Partners, SDGs, NGOs and More (#010)
28 Oct 2022
01:10:54
Jean-Philippe de Schrevel is the Founder and Managing Partner at Bamboo Capital Partners, an impact investing platform which provides innovative financing solutions to businesses in emerging markets. He has dedicated most of his career to the development of the impact investing field, during which time he has launched eight investment funds and raised over $1 billion across a variety of asset classes and sectors.
Jean-Philippe spent the early years of his life in Kinshasa in the Democratic Republic of Congo, moving with his parents to Belgium at the age of seven and then going on to study Development Economics at the University of Namur. His early career began as a Junior Economist in Bucharest in the period just after the fall of Ceaușescu, after which he went on to McKinsey Brussels, which took him on engagements around various parts of the world. He became the CEO of a Microfinance foundation in Argentina for a year and then returned to Europe, where he continued to work in microfinance and came to work at Dexia Asset Management. Jean-Philippe co-founded BlueOrchard in 2001 and then went on to found Bamboo Capital Partners in 2007. He holds an MBA from the Wharton School of Business and is fluent in French, English, and Spanish.
Widely considered to be a global pioneer in the field of impact investing, 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 this episode, Jean-Philippe shares how a trip to India as a 3rd year student in his twenties and witnessing some of the problems and suffering there shaped his future. He also discusses his Faith and how this has also played a crucial role in his mission.
In our discussion, Jean-Philippe tells us about Bamboo Capital Partners’ investment strategies and their five main Funds. We talk about Bamboo’s partnerships with various UN agencies and International NGO’s and the SDG500 Impact Investment platform. We hear Jean-Philippe’s true definition of impact investing and we discuss the role of technology in impact investing now and in the future.
Show notes: https://sri360.com/podcast/jean-philippe-de-schrevel
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Democratizing Impact Investing Through Public Equities: Eric Rice on BlackRock's Global Impact Fund (#009)
25 Oct 2022
00:54:31
Eric Rice is Head of Impact Investing at BlackRock and the portfolio manager and the architect of the world’s first diversified public markets impact investing strategy, Global Impact. Global Impact is an alpha-oriented strategy that invests in companies whose goods and services help address the world’s great problems, as defined by the UN Sustainable Development Goals. He also collaborates with other investors at BlackRock to help germinate additional impact and sustainable investment strategies.
Blackrock is the world's largest asset manager, which has reported more than US $10 trillion in AUM as of January 2022. Eric grew up in Berkeley, California, and studied close to home at the University of California Berkeley, where he was awarded an AB degree in economics. He began his career as a Diplomat in Rwanda with the U.S Department of State. It was during this posting that Eric quickly became aware that he wanted to do development work and projects that would make a difference.
Following his posting in Rwanda, Eric went on to earn a PhD in Economics at Harvard University. He then spent several years as a country economist at the World Bank, then moved on to Wellington Management, where he transitioned into portfolio management and eventually got permission to launch an impact fund strategy that he proposed after explaining what exactly sustainable investing was. Eventually, he and his Sustainability team at Wellington Management landed at Blackrock in 2019, where he designed and launched the world's first diversified public market impact investing strategy.
In this episode, Eric discusses Impact Investing in the context of a public equity fund and how, with the Global Impact Fund, he has worked to take the very best characteristics of impact investing that have been developed over the years in the private market and adapted them to public equity investing, to create an authentic impact strategy.
Show notes: https://sri360.com/podcast/eric-rice
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Connect with SRI 360°: Sign up for the free weekly email update: https://sri360.com/newsletter/ Visit the SRI 360° PODCAST: https://sri360.com/podcast/ Visit the SRI 360° WEBSITE: https://sri360.com/ Follow SRI 360° on TWITTER: https://twitter.com/SRI360Growth/ Follow SRI 360° on FACEBOOK: https://www.facebook.com/SRI360Growth/
Social & Sustainable Capital Co-Founder & CEO, Ben Rick on Social Impact Investing in Social Enterprises Helping Vulnerable People, Lending to Charities and More (#008)
20 Sep 2022
00:54:36
Ben Rick (@SASCapital_Ben) is the Co-Founder and CEO of Social and Sustainable Capital, a company that provides flexible capital to enable social sector organizations grow their social impact, tackle society’s most pressing challenges, and improve the lives of disadvantaged people across the United Kingdom.
After graduating from the University of Manchester Institute of Science and Technology (now part of Manchester University) in 1993 with a degree in Management Science, Ben’s plans to train as an accountant changed rapidly when by chance, he attended a Goldman Sachs recruitment event and was offered a Management Trainee position there. He describes his transition from the back office at Goldman Sachs to the trading floor at Lehman Brothers, where he worked as a Euro Bond Trader, followed by a move to UBS where he jointly ran the corporate bond trading department. He later became Managing Director of the EMEA Global Proprietary Trading Group for Bank of America Merrill Lynch.
In our conversation, Ben explains how after his years in the City he began to find the environment, the attitudes, and focus on personal wealth distasteful and how it was his desire to make a difference that led him to leave his City career and co-found Social and Sustainable Capital.
Show notes: https://sri360.com/podcast/ben-rick
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Beyond the 2/20 Model: Disrupting VC & 25% IRR from Climate Adaptation in Southeast Asia
17 Feb 2026
01:23:33
Most climate investment still flows toward mitigation, technologies designed to reduce future emissions. Far less capital is directed toward climate adaptation, despite the fact that many regions are already living with the physical, economic, and social consequences of climate change.
This imbalance is especially visible in emerging markets, where climate risk, rapid economic growth, and limited institutional infrastructure collide.
In this episode of SRI360, I’m joined by Alina Truhina, Founder and Managing Partner of Radical Fund and Utopia Capital Management.
Alina has spent her career building and backing early-stage companies across Southeast Asia and Africa, with a focus on climate adaptation, venture capital, and how businesses actually get built in emerging markets.
We discuss why traditional venture capital models often fail in emerging markets, why climate adaptation is harder to measure (but no less urgent) than mitigation, and why supporting founders in these environments requires far more than simply writing a check.
Tune in to learn more about:
Why climate adaptation remains underfunded compared to mitigation
How measurement and incentives shape where climate capital flows
Why traditional venture capital models struggle in emerging markets
What founders in climate-exposed regions need beyond just funding
How capital design influences risk, resilience, and long-term outcomes
Featured guest:
Alina Truhina, CEO and Managing Partner of The Radical Fund and a Partner at the multi-regional investment platform Utopia Capital Management
Thriving On Discomfort, Astia CEO Sharon Vosmek on VC Investing in Women-Led Companies, Eliminating Bias in Venture Capital Investing and More (#007)
31 Aug 2022
01:11:17
Sharon Vosmek (@Vosmek) is the CEO of Astia & Managing Partner of the Astia Fund ($100 million) and a founding member of Astia Angels. Astia is the pre-eminent organization working to ensure the success of high-growth start-ups founded and led by women. Sharon is well-known around the globe for her opinions, research, and commentary on the importance of women leadership being integral to innovation and high-performing entrepreneurial companies.
Her work began in the political sector, where she worked for US Senator Dennis DeConcini. She became very interested in global economics and women's economic participation, in particular, the policies and roadmaps that were available to ensure that women successfully participated in the economy. A chance meeting with the founder of Astia, Catherine Muther, at a dinner party paved the way for things to come and Sharon was appointed CEO of Astia in 2007. Under her leadership, Astia has grown from 20 individuals in Silicon Valley to a global community of more than 5,000 investors, entrepreneurs, and industry leaders that make up its investment ecosystem today.
In this episode, Sharon goes in depth to describe the extent of the under-investment in women-led companies venture capital firms and cites a number of studies and some very interesting statistics on how much money seems to be left on the table by doing so. We discuss at length what she considers to be the shortcomings of the typical VC investment approach as well as race and gender bias in the VC investment community. Show notes: https://sri360.com/podcast/sharon-vosmek
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
NN Investment Partners Lead PM Green Bonds, Bram Bos on What Makes Green Bonds 'Green', Greenwashing and 'Labelmania' (#006)
23 Aug 2022
00:49:21
Bram Bos is Lead Portfolio Manager of Green, Social and Impact Bonds at NN Investment Partners. He has over 20 years of portfolio management experience, including previous roles at Unilever, APG Asset Management, Nomura, and Fullerton Fund Management.
Bram’s early career began in his native Holland, took him to Singapore for several years and then back to Holland, where he went on to build the green bond franchise at NNIP following its inception in 2015, back before interest in green bonds really exploded. The flagship NN (L) Green Bond Fund focuses exclusively on green bonds and combines a clear green profile with an above market performance since its inception. The fund is currently the world’s largest open-ended green bond fund in the market, with over €3.8 billion total assets under management.
Bram was awarded a Masters of Science and Financial Economics at Erasmus University in Rotterdam, and previously sat on the Fixed Income Advisory Committee for the United Nations-backed Principles for Responsible Investment.
In this episode, we discuss what makes a green bond “green”, the criteria he uses at NNIP to ensure green bonds meet international standards, what makes green bonds attractive to investors and of course, the concept of ‘greenwashing’.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
From Investment Banker/SRI Sceptic to SRI Evangelist, Marisa Drew, Chief Sustainability Officer at Credit Suisse on the Great Wealth Transfer, Millennial Values, Achieving Net Zero and More (#005)
11 Aug 2022
01:03:54
Marisa Drew is the Chief Sustainability Officer for the Standard Chartered Bank in London as of July 2022. However, this discussion will not be about Standard Charter Bank because my interview with Marisa took place some months back when I was finishing my book, Sustainable and Responsible Investing 360º. At that time, she was the Chief Sustainability Officer for Credit Suisse, where she had worked for nearly 19 years. Today's discussion will concern Marisa's experience at the Credit Suisse sustainability program.
Marisa’s investment banking career spans over thirty years. During an eleven-year stint at Merrill Lynch, she was instrumental in the formation of their European Leveraged Finance Group, which saw her relocate to London back in 1999. In 2003 she joined Credit Suisse to establish the Leveraged Finance Origination Group. She moved over into the Sustainability area in 2017, when she established the Impact Advisory and Finance Department after which she took on the additional role of Chief Sustainability Officer which we discuss today.
Marisa attributes her successful transition into the Sustainability area to her traditional capital markets background and being able to “speak the language of the institutional investment community” to mobilize capital at scale in the private sector in order to help solve some of the world’s biggest environmental and social challenges.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Trillium Asset Management CEO, Matt Patsky on Impact Through Global Public Equities Investing, Joan Bavaria, Community Impact Investing CDs, Mark Zuckerberg & The Onion, and More (#004)
01 Aug 2022
01:18:35
Matt Patsky (@mattpatsky) is the CEO and Lead Portfolio Manager of the Trillium ESG Global Equity Srategy and Portfolio Manager of the Trillium Sustainable Opportunities Strategy. Matt began his career at Lehman Brothers in 1984 and has over three decades of experience in investment research and investment management. In 1994 he became the first sell-side analyst in the United States to publish on the topic of socially responsible investing.
In this episode, we discuss how early in his career, Matt wrote a sustainability business plan in his first job out of school at Lehman Brothers and how his boss told him he would ruin his career if he didn’t stop this sort of thing. We spoke about how he stumbled into the Social Venture Network and ‘found his tribe’ after meeting a lot of the early SRI pioneers like Ben Cohen and Jerry Greenfield of Ben and Jerry’s, Howard Schultz of Starbucks Coffee, Anita Roddick of The Body Shop, and a bunch of others who encouraged him to follow his passion for responsible investing, and how he ended up being recruited to replace Trillium’s well-known founder, Joan Bavaria.
Matt speaks at length about his views on value creation and his belief that a manager’s fiduciary responsibility requires incorporating ESG principles into portfolio management. We also discuss greenwashing in the industry and the failures of investment funds to hold themselves accountable to the same standards that they impose on the management of their portfolio companies.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys - and what motivated and attracted them to commit their life energy to SRI - to insights on 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.
Jed Emerson, Tiedemann Advisors, Global Lead Impact Investing on the Evolution of Impact, George Roberts & REDF, the Role of Investing in the Post-Growth World, and More (#003)
25 Jul 2022
01:10:38
Jed Emerson (@BlendedValue) is an internationally recognized thought leader in impact investing, social entrepreneurship and strategic philanthropy and the Managing Director and Global Lead Impact Investing with Tiedemann Advisors.
He has extensive experience leading, staffing, and advising funds, firms, social ventures, and foundations in pursuance of financial performance alongside social/environmental impact. Jed has authored numerous articles and papers on the subject, including the first book on impact investing (Impact Investing: Transforming How We Make Money While Making a Difference). In 2018 he released his eighth book, The Purpose of Capital: Elements of Impact, Financial Flows and Natural Being.
Originator of the Blended Value concept, Emerson is a Senior Fellow with the Center for Social Investment at Heidelberg University and has held faculty appointments at Oxford, Harvard, Stanford, and Kellogg business schools.
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In each interview, he covers everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on 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.
Lombard Odier Portfolio Manager, Alina Donets on Natural Capital Investing, Planetary Boundaries, High Conviction Portfolio Construction, Circularity, the Bio Economy, and More (#002)
14 Jul 2022
00:57:57
Alina Donets is the lead portfolio manager of LO Funds-Natural Capital at Lombard Odier Investment Managers and has been managing sustainability portfolios for nearly nine years. She is a globally recognized specialist in water and sustainable investment, and during her career has developed several new strategies with proprietary impact, thematic, and ESG-centered processes. In this episode we will be doing a deep dive on biodiversity and investing in natural capital.
The LO Funds-Natural Capital invests in publicly traded companies that contribute to the preservation of natural capital or create solutions for the circular biodiversity economy. Alina launched the fund in 2020 and the fund has over 900 million dollars in assets under management.
Alina cut her teeth in sustainable investing at Pictet Asset Management where she was an investment manager on the Pictet Water fund and was a supporting investment manager on the Pictet Global Environmental Opportunities fund. Following that she co-managed the Allianz Global Water strategy at Allianz Global Investors where she developed the proprietary SDG-alignment tool that became the foundation for their sustainable SDG-aligned investment fund range.
Alina holds a Bachelor of Science degree in Business Studies from the Bayes Business School at City, University of London (formerly the Cass Business School) and a Master of International Business degree from the HEC Paris. Alina is a CFA® charterholder and has achieved the CFA Institute Certificate in ESG Investing.
Show notes: https://sri360.com/podcast/alina-donets/
Calvert Impact Capital CEO, Jenn Pryce on Community Investing, Investing Where Banks Won’t, the Seychelles Blue Bond, and the Community Investment Note with 100% Repayment Record (#001)
14 Jul 2022
00:55:34
Jenn Pryce (@JennPryce) is President and CEO of Calvert Impact Capital, a global investment firm investing in communities, people, and businesses that are overlooked by traditional finance in the United States and in over 100 other countries. Essentially, they’re putting their money where banks won’t.
Jenn learned the power of community at the start of her career working in the Peace Corps in Africa teaching math in Gabon. She then worked as an equity research analyst for Neuberger Berman before making her way to the investment banking team at Morgan Stanley’s London office and then went on to help raise financial support for The Public Theater in New York City. Facing several challenges in this endeavor, she stumbled upon a Community Development Financial Institution where she began to understand the importance of community investing.
During a stint at the Nonprofit Finance Fund in Washington D.C., she learned about the value of driving financial support to community businesses after which she landed at Calvert Impact Capital where she later became the CEO. During Jenn’s tenure at Calvert, she has expanded the sectors they work in and developed new products and services to ensure that impact investing is accessible from institutional to small retail investors. Since Calvert Impact Capital’s founding, the company has worked with nearly 20,000 individuals, institutions, and advisors to raise nearly $3.5 billion.
Jenn studied engineering at Union College and holds an MBA from Columbia University. She serves as a Forbes contributor, a lecturer at Oxford Saïd School of Business, a board member of UNICEF USA Impact Fund for Children, the Advisory Board Chair of Quantified Ventures, and as a member of the Advisory Board of Ecofin and Operating Principles for Impact Management.
Welcome to the SRI 360º Podcast where I interview world-class Sustainable & Responsible investors and bring you the lessons that they’ve learned so you can find out what they are doing and how they are doing it.
Regenerative Finance and Biodiversity: The Risk Investors Keep Mispricing
05 Feb 2026
02:17:38
What happens when sustainability strategies fail to address real climate risk and long-term investment outcomes?
In this episode of SRI360, I am speaking with Laura Ortiz Montemayor about impact investing, climate risk, and regenerative finance, and why sustainability alone may no longer be enough for investors focused on long-term value creation.
Drawing from Laura’s experience in traditional finance and her work building regenerative investment strategies in Latin America, the conversation explores how capital allocation shapes systems, and why rethinking how capital is deployed matters as much as where it flows.
The conversation is especially relevant for investors navigating climate finance, nature risk, and sustainable investing in emerging markets.
We talk about:
the difference between sustainability and regeneration in impact investing
why changing what we invest in isn’t enough without changing how capital is deployed
how capital shapes systems, and risk, over time
what regenerative finance looks like for investors focused on long-term outcomes
Featured guest:
Laura Ortiz Montemayor, founder of SVX México and Managing Partner of Regenera Ventures
Alpha From Inertia: How Paying for Outcomes Unlocks Impact Investing Returns
21 Jan 2026
01:31:06
The biggest risk investors face right now isn’t just climate change, geopolitics, or emerging-market volatility. The real threat in impact investing is inertia. Capital stays in familiar places because big asset owners can get satisfactory returns elsewhere. So, unless incentives and information change, inertia wins.
This episode is about why social investment keeps getting stuck, even when good people across government, finance, and communities are trying to do the right thing – and what actually has to change for money to start moving.
It focuses on where incentives misfire and how to scale impact investing and social investment beyond pilot projects.
I’m joined by Nick Hurd, former UK minister and now Chair of GSG Impact. Nick has worked across government, finance, and civil society. He helped build the UK’s social investment market, pioneered early social impact bonds, and later stepped away from politics after deciding markets offered more leverage than ministries.
We talk about:
how outcome-based finance works in practice
how social investment moves risk off taxpayers
where social impact bonds work (and where not)
why climate finance must account for communities, not just emissions
How AgTech Venture Capital Harvests Alpha and Impact in Latin America
15 Jan 2026
02:04:45
Agrifood and AgTech investing in Latin America is still widely misunderstood. That gap between perception and reality is creating real opportunity for patient, specialized investors who understand agriculture as a long-term operating business, not a short-cycle investment theme.
Volatility here is often mistaken for weakness. But as this conversation makes clear, agribusiness has kept growing through recessions, pandemics, and political transitions. In many cases, it’s been one of the most resilient parts of the economy.
I’m joined by Francisco Jardim, General Partner at SP Ventures. He’s spent nearly two decades building one of the region’s earliest agrifood venture capital platforms, investing across agriculture innovation, climate resilience, and food security in Brazil and across Latin America.
We talk about:
Why tropical agriculture operates differently from temperate agriculture in US and European systems
How climate and AgTech investors often misprice Latin America
Why Brazilian agribusiness continued growing through macro shocks
How to scale sustainable agriculture without sacrificing productivity or food security
Tune in to hear why Latin American agrifood and climate tech may be one of the most compelling risk-return opportunities of this generation.
Featured guest:
Francisco "Chico" Jardim, General Partner at SP Ventures, one of the earliest venture firms built inside Brazilian agriculture
How Catalytic Capital Turns High-Risk Assets Into Pension-Grade Investments
06 Jan 2026
00:42:48
Catalytic capital is often described as concessional capital, sometimes accepting lower returns. But this framing overlooks what matters most. In practice, catalytic capital steps in first, absorbs the risk others can’t, and makes institutional capital comfortable enough to follow.
If you’re involved in capital allocation, this matters because catalytic capital isn’t about charity. It’s about structuring risk so institutions can invest in assets they normally couldn’t because of regulatory and rating rules.
This episode focuses on how catalytic capital functions inside impact investing portfolios under real regulatory and balance-sheet constraints.
It revisits key points from my earlier conversation with Yasemin Saltuk Lamy who built and scaled the Catalyst Portfolio at British International Investment from roughly £300 million to about £1.6 billion.
Tune in to learn:
Why who goes first matters more than how much capital goes in
When catalytic capital actually crowds in institutional investors
How credit enhancement changes regulatory eligibility
How impact measurement shapes capital allocation decisions
Why impact trades off with liquidity, not financial returns
Featured guest:
Yasemin Saltuk Lamy, Head of Investment Strategy for the Institutional Retirement division of Legal & General (L&G) and former Deputy CIO and Head of Asset Allocation and Capital Solutions at British International Investment (BII)
Why Sustainable Forestry Beats Traditional Timber Models on Risk and Returns
30 Dec 2025
01:05:58
Forestry is often treated as just timber production. But in this 2-in-1 compilation about sustainable forestry, you’ll hear a different way of thinking. One that looks beyond timber to carbon, biodiversity, water, and resilience.
I revisit key moments from two earlier episodes that look at sustainable forestry as a serious investment strategy and a practical example of nature-based investing. They show how forests can deliver competitive returns, hedge inflation, and reduce portfolio risk while addressing climate and biodiversity pressures.
In one conversation, Bettina von Hagen talks about how better forest management can make forests more valuable over time. In the other, Charlotte Kaiser explains why climate and biodiversity loss are now showing up as real risks for investors.
Together, they show how decisions made on the ground connect with institutional capital in the real world. You’ll hear:
How sustainable forestry creates value beyond timber production
Why forests function as an inflation hedge and portfolio stabilizer
How climate-smart forestry improves resilience without sacrificing returns
How carbon markets and conservation expand financial optionality
How biodiversity, carbon, and community outcomes are measured
If you want solid information before deciding whether forests belong in a portfolio, this episode is a good place to start.
Featured guests:
Bettina von Hagen, Managing Director & CEO at EFM Investments & Advisory
Charlotte Kaiser, Head of Impact Finance at BTG Pactual’s Timberland Investment Group (TIG)
Circular Economy Investing: VC Returns from Fashion’s Broken Logistics
23 Dec 2025
01:04:11
The apparel industry is a $3 trillion market. But a massive share of what it produces goes straight to waste.
That combination points to mispriced inputs and broken systems. And to real opportunities for circular economy solutions that work on both the business side and the environmental side.
In this end-of-year gift to listeners, I'm revisiting a conversation that shows where to look for investment opportunity: at overproduction, reverse logistics that don’t work, and at a system where brands often find it cheaper to write off returned product than resell it.
These are highlights from an earlier conversation with Karla Mora, founder of Alante Capital, an early-stage venture fund focused on circular economy solutions and sustainable supply chains across the apparel industry.
Karla works directly with brands, manufacturers, and material innovators to understand where waste is created and where capital can change outcomes.
You’ll hear:
How overproduction creates immediate waste in apparel
Where circular economy investments can scale today
How venture returns and impact align in this sector
Listen in.
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Featured guest:
Karla Mora: Founder and Managing Partner at Alante Capital, an early-stage venture fund backing scalable circular economy solutions in apparel and consumer supply chains