The Sustainability Story

• Tamara Close, CFA: The Evolution of ESG Practices for Institutional Investors

  Nicole Gehrig speaks with Tamara Close, CFA, Senior Director of ESG Advisory for the Petra Funds Group, about the ongoing evolution of sustainable finance and ESG (Environmental, Social, and Governance) practices within the institutional investment landscape. Tamara reflects on her career path, including her time at PSP Investments, and shares key insights into the shifting perceptions and integration of ESG issues into mainstream investment strategies. The discussion covers how institutional investors have evolved and increased in sophistication when it comes to their ESG practices. It looks as well at the regional disparities in adoption, the distinct roles of public versus private markets, and the growing expectations placed on asset managers by institutional investors. Nicole and Tamara also examine the increasing demand for transparency, high-quality data, and measurable outcomes, from institutional investors emphasizing the maturation of considering ESG issues from a values-driven approach to a financially material integrated investment framework.   Key Takeaways:  • Institutional investors have progressed from values-based investing to fully integrating ESG issues into risk management frameworks, aiming to create real world impact through their investments. • Public markets are increasingly seen as a risk management play for institutional investors focusing on ESG issues, whereas private markets present more opportunities to deliver measurable impact. • Transparency and evidence-based results are essential requirements for credible ESG strategies. • There are key questions institutional investors can use to help assess a fund manager's ESG integration maturity.   Chapters 00:00 Introduction 01:40 Tamara's Sustainability Story 05:08 How Institutional Investors Treat ESG Issues: Evolution and Trends 11:04 Regional Differences in ESG Practices and Regulations 15:13 Public vs. Private Markets: ESG Approaches 20:27 Expectations from Institutional Investors 23:30 Key Questions for Asset Managers on Integrating ESG Issues 27:41 Future of ESG Practices in Investment Strategies

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• Steve Waygood: Building a Sustainable Financial System

  Dr. Steve Waygood, Chief Sustainable Finance Advisor at Aviva Investors, shares insights from his 25-year journey in sustainable finance. He discusses the evolution from ethical investing to system-level stewardship, the under-pricing of climate risks in financial models, and the vital role of public policy in aligning markets with sustainability goals. Packed with real-world examples and forward-thinking advice, this episode is ideal listening for anyone interested in the future of finance and its role in tackling global challenges.

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• Mark Campanale: The Carbon Bubble and Future of Fossil Fuels

  Mark Campanale, founder of the Carbon Tracker Initiative, talks with Paul Moody, Managing Director of Global Partnerships and Client Solutions at CFA Institute,  about the growing risks tied to fossil fuel investments. Mark explains the concept of the carbon bubble—the gap between the carbon in global reserves and what the climate can safely absorb—and what it means for investors, regulators, and financial markets. We explore stranded assets, shifting energy economics, and why renewables and EVs are rapidly changing the game. Packed with insights on climate risk, valuation, and policy, this is a must-listen for anyone navigating the transition to a low-carbon economy.

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• Mel Peh, CFA: Guidance for Integrating Nature-Related Risks into Investment Strategies

  In this episode of the Sustainability Story, host Nicole Gehrig, Director of Global Industry Standards at CFA Institute, discusses the importance of integrating nature-related risks into investment strategies with Mel Peh, CFA, an independent consultant for the United Nations Environment Program Finance Initiative (UNEP FI). They explore how nature-related risks, such as biodiversity loss and deforestation, can impact financial performance and the steps asset managers and owners can take to mitigate these risks. The conversation also highlights the use of frameworks and tools like the Taskforce on Nature-Related Financial Disclosure framework and the ENCORE tool to better understand and manage these risks.

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• Dr. Ma Jun: The Future of Sustainable Finance

  Join Paul Moody, Managing Director at CFA Institute, as he sits down with Dr. Ma Jun, President of the Institute of Finance and Sustainability (IFS) and founder of CASI (Climate Action and Sustainability Initiative), for a thought-provoking discussion on the future of sustainable finance. In this engaging episode, Dr. Ma Jun shares his journey from shaping global sustainable finance policies to launching CASI, a groundbreaking initiative aiming to educate 100,000 professionals in Emerging Markets and Developing Economies (EMDEs) by 2030. The conversation explores the challenges and opportunities in scaling sustainable investment, the role of policy incentives, and how innovative financial frameworks can drive meaningful change.

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