A Sustainable Future

How are national policymakers driving transition finance into the real economy? Listen to Jason Mitchell discuss with Dr. Esther Wandel, German Federal Ministry of Finance, how the German Federal Ministry of Finance is evolving its Sustainable Finance Strategy and what ‘harmonisation’ holds for sustainable regulations and standards.Dr. Esther Wandel is head of division for Investment Funds and Sustainable Finance at the German Federal Ministry of Finance. She focuses on the international, European and national Agenda on sustainable finance and asset management topics. Esther led the financial services team of the Permanent Representation of Germany in Brussels for two years where she led and coordinated work on financial services during the German EU presidency. She worked for the European Commission for seven years as well as Financial Conduct Authority in London for three years.

When can sustainable investing be counterproductive? Listen to Jason Mitchell discuss with Professor Kelly Shue, Yale University School of Management, why brown firms—not green firms—will drive the greatest emissions savings, how the cost of capital can be a powerful lever for behaviour change, and why it’s vital that sustainable investors move more towards energy transition-type strategies.Kelly Shue serves as a Professor of Finance at the Yale University School of Management. Her academic interests lie at the intersection of behavioural economics and empirical corporate finance. Her research has explored the Peter Principle, compensation and promotions, gender and negotiations, the gambler's fallacy, contrast effects and non-proportional thinking in asset pricing, and executive social networks. Her research has been featured in numerous news outlets including CNN, NPR, and the Wall Street Journal, and has been awarded the AQR Insight Award, the Wharton School-WRDS Award for Best Empirical Finance Paper, and the UBS Global Asset Management Award for Research in Investments. She serves as an associate editor at the Journal of Finance and Journal of Financial Economics, and previously served as an editor at the Review of Finance. Her latest paper is Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms

In a world of artificially generated content and ideas, where is the comparative advantage for humans? Listen to Jason Mitchell discuss with Professor Anton Korinek, University of Virginia, about how to think through the economic—and specifically labour productivity—implications of generative AI, what AI could potentially mean for the last 40 years of wage inequality, and why it’s critical we rethink traditional forms of learning given the impact that AI could have on education.

What’s at stake in the next general election for UK climate policy? Listen to Jason Mitchell discuss with Rt. Hon. Chris Skidmore MP, former Minister and Chair of the UK Net Zero Review, about why it’s critical that the UK maintain its international climate leadership; what should the UK do about domestic oil and gas production in another energy security crisis; and how the UK can respond to the US and EU clean energy stimulus programmes.The Right Honourable Chris Skidmore is the Conservative Member of Parliament for Kingswood. He was the UK’s former Energy and Clean Growth Minister attending cabinet who signed the UK’s net zero commitment into law in June 2019, and also served as Minister for Universities, Science, Research and Innovation twice between 2018 and 2020. In September 2022 he was appointed Chair of the Net Zero Review, an independent review into the delivery of UK net zero climate commitments. The report of the review, Mission Zero, was published in January 2023.

Is AI your co-worker or your job replacement? Listen to Jason Mitchell discuss with Dr. Mike Kollo, CEO of Evolved Reasoning, about how to think through the implications of generative AI, what large language models like ChatGPT mean for the workplace, and why our focus needs to shift towards understanding the new areas of growth, industry and expertise that these systems open up.

Does Europe face a climate protection insurance gap? Listen to Jason Mitchell discuss with Margherita Giuzio, European Central Bank, about what’s at stake from a financial stability and macroeconomic perspective; how the ECB is proposing a ladder of approaches; and why public-private sector solutions like impact underwriting are vital to reducing moral hazard risks.Margherita is a Team Lead in the Market-Based Finance division of the Macroprudential Policy and Financial Stability Directorate at the European Central Bank. Her research interests include non-bank financial intermediation, climate-related risks to financial stability and sustainable finance. She has co-authored a number of papers examining the intersection of sustainability and financial markets including “What to Do About Europe’s Climate Insurance Gap”, “The Low-Carbon Transition, Climate Commitments and Firm Credit Risk”, and “Are Ethical and Green Investment Funds More Resilient?”

What does science reveal about a potential collapse of the Earth system? Listen to Jason Mitchell discuss with Professor Tim Lenton, University of Exeter, about what’s at stake when we talk about planetary boundaries, early warning systems and climate tipping points; how the supporting science and empirical evidence have expanded over the last decade; and why GAIA 2.0 represents a powerful framework to reinforce global sustainability.

How are the courts reshaping client action? Listen to Jason Mitchell discuss with Amy Rose, Global Director of Litigation, Governance and Legal Services for ClientEarth, about what strategic impact litigation represents; how constitutional and human rights theories are providing a framework for climate legal action; and why the courts, not policymakers, may well end up reshaping definitions of ESG and greenwashing.Amy Rose is Global Director of Litigation, Governance and Legal Services for ClientEarth. She specialises in strategic impact litigation and oversees the strategy and management of ClientEarth's diverse and growing litigation portfolio. Amy headed the ClientEarth Strategic Litigation Programme which laid the groundwork for bringing litigation at scale across Europe. She focuses on supporting our legal teams to bring a wide range of climate and environmental cases across Europe and around the world. Amy also manages ClientEarth's organisational Monitoring, Evaluation and Learning framework, and sits on the Risk and Compliance Committee, ensuring compliance with ethical and practice of the law obligations of ClientEarth lawyers licensed in over 15 countries. 

How is climate change redefining security narratives? Listen to Jason Mitchell discuss with General Tom Middendorp, former Chief of Defence for the Netherlands and author of Climate General, about what’s at stake when we talk about climate security; how the defence sector is evolving to address climate risk, from net zero paths to disaster relief missions; and why the military’s level of readiness, resilience and redundancy offers compelling lessons for how to tackle climate change.General (Ret.) Tom MiddendorpGeneral (Ret.) Tom Middendorp was the Chief of Defence for the Netherlands from 2012 to 2017 in a military career spanning 38 years, and the author of a new book, Climate General. He commanded soldiers on all levels, led a large multinational taskforce in the south of Afghanistan and was involved in over twenty different military missions as the Director of Operations. As the Chief of Defence for the Netherlands, General Middendorp led the Defence organisation through an intense period of transition and international cooperation. He joined the Clingendael Institute as a Senior Research Associate and is Chairman of the International Military Council on Climate and Security. He is also the Netherlands’ Special Envoy on European Defence Cooperation and a Senior Advisor in the areas of security, defence and strategic leadership. 

After the energy crisis, what comes next? Listen to Jason Mitchell discuss with Tim Gould, IEA Chief Energy Economist, the IEA’s latest World Energy Outlook report, the implications of the energy crisis, and policymakers’ efforts to balance decarbonisation, energy security and price affordability.Tim Gould is the International Energy Agency’s Chief Energy Economist. He provides strategic advice on energy economics across a wide range of IEA activities and analysis. Tim, is also Head of the Division for Energy Supply and Investment Outlooks, in which capacity he co-leads the World Energy Outlook, the IEA’s flagship publication, and oversees the Agency’s work on investment and finance, including the World Energy Investment report. Tim joined the IEA in 2008, initially as a specialist on Russian and Caspian energy, and in recent years has designed and directed the World Energy Outlook together with the IEA’s Chief Energy Modeller. Prior to joining the IEA, Mr Gould was Senior Advisor to the Secretary General of the Energy Charter and has ten years of experience in Eastern Europe, primarily in Ukraine.