Episodes
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About 10% of the world’s population lacks access to reliable energy. A third of the world lacks access to clean cooking fuels—a major health risk. At some point, renewable energy sources will likely fill these gaps—but until then, Steve Riney, President and CFO of Apache, argues, the focus needs to be on empowering people to connect to the global economy and on providing more of every form of energy.
As always, we want to listen to and learn from varied perspectives as part of the shift to a lower carbon economy. In this episode, Erika Pagel sits down with Steve to talk about why he thinks in terms of energy expansion rather than energy transition. They unpack his experiences and points of view, from his leadership position in an “unapologetic” oil and gas company. Steve and Erika cover changes in the energy industry, conventional vs. unconventional production, energy poverty, sustainability, and “doing the right thing” in a politicized environment.
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The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.
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Lithium is the lightest metal, so soft that you can cut it with a knife. Its structure gives it the ability to store large amounts of energy, making it ideal for manufacturing batteries. As the world moves to create a lower-carbon economy, the energy transition may well hinge on lithium.
To learn more about lithium and its role in electrification and the shift to renewable energy sources, Brown Advisory's Erika Pagel sits down with Eric Norris, President of Energy Storage at Albemarle—the largest producer of lithium in the world.
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The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.
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Missing episodes?
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Nuclear power has had a controversial history. Today, however, it is often considered an essential energy source for a lower carbon future. In a continuation of our NOW series on the energy transition, Erika Pagel sits down with Joe Dominguez, CEO of Constellation, the leading operator of nuclear power plants in the US. Joe and Erika discuss progress in shifting to a lower carbon economy, where nuclear fits in, promising innovations, and what it will take to get to net zero by 2050.
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The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.
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As investors, we know that climate risk is real—and that we cannot achieve real climate action without a material shift to renewable energy sources. So, as we think about driving toward a lower carbon economy, we want to understand different opportunities and perspectives across the energy landscape. In this episode we are diving into renewables, and specifically into solar power. Brown Advisory's Erika Pagel sits down with Raghu Belur, the Co-founder and Chief Products Officer of Enphase Energy, which has revolutionized the solar industry with its microinverter-based technology. Erika and Raghu explore solar—in terms of economics, job creation, energy security and climate action.
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The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.
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In part 1 of our energy transition series, Dr. Atul Arya, Chief Energy Strategist of S&P Global, said, "Energy companies are really good at putting steel in the ground and building stuff." In his mind, they must be part of the solution to create a low-carbon economy. So, in part 2, Brown Advisory's Erika Pagel explores the role of traditional energy companies with Allyson Book, the Chief Sustainability Officer of Baker Hughes, an engineering and technology provider that works with many of the largest global traditional oil and gas companies. How are the companies that built their businesses on fossil fuels facilitating a transition to a more sustainable, lower-carbon future?
Guest:
Allyson Book, Chief Sustainability Officer, Baker Hughes
Host:
Erika Pagel, CIO for Sustainable Investing; Portfolio Manager, Brown AdvisoryRecommended Reading:
Fostering Effective Energy Transition, World Economic Forum, May 2022Leading Oil and Gas into a Net Zero World, The Atlantic Council, March 2022Recommended Listening:
Oil and Gas Majors in the Energy Transition: A Conversation with Mike Wirth, Chairman and CEO of Chevron, Council for Strategic & International Studies, June 7, 2022How to Take Carbon Management to the Next Level, CERAWeek, March 2022Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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In conjunction with Climate Week, we launched the first episode in our three-part NOW podcast series on the transition to a low-carbon economy. In this first episode, Brown Advisory’s Erika Pagel sits down with Dr. Atul Arya, the Chief Energy Strategist of S&P Global, to discuss the race to net zero. They cover the impact of the war in Ukraine, the role of traditional energy companies, the promise of technology and innovation, and the feasibility of reaching the Paris Agreement’s critical but ambitious targets by 2050.
Guest:
Atul Arya, Ph.D.Senior Vice President and Chief Energy Strategist, S&P Global
Host:
Erika Pagel
CIO of Sustainable Investing; Portfolio Manager, Brown AdvisoryBackground Reading:
Getting Going: Breaking Through the Barriers to Corporate Climate Action, Oliver Wyman/The Climate Group, September 14, 2022Energy Transition Outlook, S&P Global, August 15, 2022The Net-Zero Transition in the Wake of the war in Ukraine: A Detour, a Derailment, or a Different Path?, McKinsey Quarterly, May 19, 2022Why the Energy Transition Will Be So Complicated, Dan Yergin, The Atlantic, November 27, 2021Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Artificial intelligence appears poised to disrupt industries, improve customer outcomes, and enhance lives, and solutions based on AI are projected to contribute as much as $15 trillion to the global economy in 2030—more than the current output of China and India combined. The problem-solving potential of AI is seemingly limitless, and it may well change the way we work, travel, power our cities, diagnose disease, and organize our society.
And yet there are reasons to be cautious. Information is power, and that power can be used for good or for ill. In this episode, Brown Advisory’s Katherine Kroll explores the investor case for “ethical AI” and why failing to proactively ensure AI is used to help, not harm, is a material and salient risk not only to investment performance but to our society’s ability to thrive. She speaks with three of the foremost experts on ethical AI: Aza Raskin, co-founder of the Center for Humane Technology; Arathi Sethumadhavan, Ph.D., Head of User Research for Ethics & Society at Microsoft; and Kay Firth-Butterfield, Head of AI and Machine Learning, World Economic Forum.
Guests:
Kay Firth-Butterfield
Head of AI and Machine Learning, World Economic ForumAza Raskin
Co-founder, The Center for Humane TechnologyArathi Sethumadhavan, Ph.D.
Head of User Research for Ethics & Society, MicrosoftHost:
Katherine Kroll
Investment Specialist, Brown Advisory
Investment Commentary:Victoria Avara
ESG Equity Research Analyst, Brown AdvisoryJohn Canning, CFA
Equity Research Analyst, Brown AdvisoryBackground Reading
The Promise and Challenges of AI, American Psychological Association, November 3, 2021Fueling the Fire: How Social Media Intensifies U.S. Political Polarization—and What Can Be Done About It, NYU Stern School, September 2021He Created Your Phone’s Most Addictive Feature. Now He Wants to Build a Rosetta Stone for Animal Language, GQ, June 30, 2021Truth or Lie: The Rise and Rise of Disinformation, Medium, June 25, 2021National Conversations in Artificial Intelligence: Reimagining Regulation for the Age of AI Project Team, World Economic Forum, July 2021Corporate Engagement Spotlight: Ethical AI Practices, Brown Advisory, April 22, 2021Recommended Listening:
Your Undivided AttentionThank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Fortune recently ranked Dan Schulman, CEO of PayPal, near the top of its annual World’s Greatest Leaders list, and as long-term shareholders of PayPal, we agree with their assessment. We have watched Dan lead PayPal’s ongoing growth into a digital platform responsible for more than $1 trillion in payments globally last year. In addition, he has been steadfast and outspoken about the role of business in society and the need to modify capitalism.
We were thrilled to have the opportunity to sit down with Dan during our latest episode of the NOW Podcast. Brown Advisory's Ken Coe spoke with Dan about how he views his employees as his number one constituency; PayPal's role in providing working capital and creating virtuous cycles in low-income neighborhoods; the future of financial technology; the need for all of us to rise above our own self-interest to drive progress for all, and more.
To wrap up the discussion, Ken brought in Jake Cusack and Efe Braimah from our frontier markets partner, CrossBoundary, to continue the conversation about opportunities in the fintech sector and making a difference.
Guest:
Dan Schulman, President and CEO, PayPal
Host:
Ken Coe, CFA, Equity Research Analyst, Brown AdvisoryInvestment Commentary:
Efe Braimah, Associate Principal, CrossBoundaryJake Cusack, Co-Founder and Managing Partner, CrossBoundary
Recommending Listening:
What COVID-19 Means for the Future of Commerce, Capitalism and Cash, TED2020, May 2020Never Stand Still with Dan SchulmanRecommended reading:
What is Stakeholder Capitalism?, World Economic Forum, January 22, 2021PayPal 2020 Global Impact Report Kenya is Becoming a Global Hub of FinTech Innovation, HarvardDan Schulman of PayPal on Guns, Cash and Getting Punched, The New York Times, July 27, 2018Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Nature-based factors and challenges have a real impact on our economies, lives and investments. To kick off Season 3 of the NOW podcast, Brown Advisory's Karina Funk sits down with Dr. M. Sanjayan, CEO of Conservation International, for a special Climate Week episode. They discuss the critical need to invest in biodiversity; in the irrecoverable carbon in mangroves, tropical forests and peat lands; and in the indigenous communities that depend on these natural ecosystems to protect commodities, supply chains, public health and the planet.
Later in the podcast, Karina talks with Mike Hankin, Brown Advisory's CEO, about how sustainability can be a powerful tool to create stronger businesses and drive long-term growth.
Guest:
M. Sanjayan, Ph.D.
CEO, Conservation InternationalHost:
Karina Funk, CFA
Portfolio Manager; Chair of Sustainable Investing, Brown AdvisoryInvestment Commentary:
Michael Hankin
President; CEO, Brown AdvisoryBackground Reading
2021 Sustainability Report, Brown Advisory, July 20212020 Impact Report: Large-Cap Sustainable Growth Strategy, Brown Advisory, January 2021Unlocking Private Capital for Nature-Based Solutions in Emerging and Frontier Markets, CrossBoundary, August 2021Our Response to Climate Change is Missing Something Big, Scientists Say, The New York Times, June 10, 2021 What on Earth are Natural Climate Solutions, Conservation International, November 25, 2019Nature’s Make or Break Potential for Climate Change, The Nature Conservancy, October 16, 2017Protecting Irrecoverable Carbon in Earth’s Ecosystems, Nature Climate Change, April 2020When COVID Flattened Tourism, Carbon Credits Kept These African Hills “Green,” Conservation International, April 13, 2021As Pandemic Pounded Peru, One Region Thrived On Coffee, Carbon, Conservation International, April 9, 2021 Solving Climate Naturally – a podcastThank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Blockchain technology offers the promise of a new era of secure, decentralized transfer of value on the internet—a future less reliant on trusted intermediaries and gatekeepers. Some have described blockchain as Web 3.0, unlocking the true vision of what the internet was meant to be, where users of applications are also the owners. Despite their recent—and signature—volatility, digital assets have grown into a $2 trillion market that extends well beyond Bitcoin and is attracting entrepreneurs, investors and corporate support at an accelerating rate. There is clearly a lot of innovation both in digital assets—or cryptocurrencies—as well as with the underlying blockchain technology. But how much is legitimate excitement about this revolutionary technology, and how much is inflated exuberance?
To explore the potential, and examine some of the questions hanging over the industry, Brown Advisory’s Sid Ahl sat down with three crypto experts: Joe Lallouz, Founder and CEO of Bison Trails (acquired by Coinbase); Ash Egan, Partner, Accomplice; and Ria Bhutoria, Principal, Castle Island Ventures.
Be sure to stay tuned for the Brown Advisory investment team’s perspectives, when Erika Pagel, CIO of Sustainable Investing, and Ken Coe, Financial Services Equity Analyst, join Sid (at 51:00) to share their takeaways.
Guests:
Mrinalini "Ria" Bhutoria, Principal, Castle Island Ventures
@riasearchAsh Egan, Partner, Accomplice
@AshAEganJoe Lallouz, CEO, Bison Trails; Partner, Ambush Capital
@JoeLallouz
Host:
Sid Ahl, CFA, CIO for Private Client, Endowments and Foundations, Brown AdvisoryInvestment Commentary:
Ken Coe, CFA, Equity Research Analyst, Brown AdvisoryErika Pagel, CIO of Sustainable Investing, Brown Advisory
Recommended reading:
Decentralized Finance: What It Is, Why It Matters, Andreessen Horowitz, June 15, 2021The Brutal Truth About Bitcoin, The New York Times, June 14, 2021Crypto Memes and Dreams--Why It's Different This Time, Medium, June 1, 2021How Much Energy Does Bitcoin Actually Consume? Harvard Business Review, May 5, 2021Understanding the Different Types of Cryptocurrency, SoFi, January 15, 2021What is "Proof of Work" And "Proof of Stake"? CoinbaseBitcoin: A Peer-to-Peer Electronic Cash System [White paper], Satoshi Nakamoto, October 31, 2008Recommended listening:
Tom Schmidt Explains What You Need to Know about DeFi, Odd Lots, June 28, 2021The Potential of Blockchain Technology, Invest Like the Best, April 13, 2021Crypto, An Oral Essay, The 16z Podcast, April 17, 2021Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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In this episode, Brown Advisory’s Meredith Shuey Etherington, a San Francisco-based portfolio manager, speaks with Fred Blackwell, CEO of the San Francisco Foundation, and Craig Young, Managing Principal of Tidewater Capital, to examine whether the Bay Area and San Francisco can retain and even enhance their identity as the home of the innovation economy.
San Francisco has been a paradox for decades—at once a stunningly beautiful city at the epicenter of high-tech innovation, and a fragile community grappling with various social crises, the highest cost of living in the U.S. and a vast wealth gap. The pandemic intensified many of the city’s problems, and recent headlines have revealed a string of companies moving their headquarters from the Bay Area to Austin, Miami and elsewhere. Our conversation looks at the challenges and opportunities that will shape San Francisco’s future. Later in the podcast, Brown Advisory’s JJ Baylin and Amy Hauter join Meredith to discuss how we are investing in the future of cities for our clients.
Guests:
Fred Blackwell
CEO, San Francisco FoundationCraig Young
Managing Principal, Tidewater CapitalHost:
Meredith Shuey Etherington
Portfolio Manager, Brown AdvisoryInvestment Commentary:
JJ Baylin
Private Equity Analyst, Brown AdvisoryAmy Hauter, CFA
Portfolio Manager; Head of Sustainable Fixed Income, Brown AdvisoryBackground Reading
Curb-cut effect, Angela Glover Blackwell, Stanford Innovation Review Is Silicon Valley Dead? Not According to Venture Dollars, Wired, April 14, 2021 New California State Credit Will Fund Homes For Mentally Ill People, The Bond Buyer, November 14, 2019 Solving the Housing Crisis Is Key to Inclusive Prosperity in the Bay Area, PolicyLink; USC Program for Environmental and Regional Equity; The San Francisco Foundation
Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Microbusinesses are becoming a way of life for more and more people; these very small businesses are often sole proprietorships or have just a few employees, yet can provide meaningful household income for millions of people. Digital platforms make many of these businesses possible, and companies like Etsy and GoDaddy have been an essential backbone for microbusinesses, especially during the pandemic (Etsy sellers contributed $13 billion and almost 3 million jobs to the economy last year).
For this NOW episode, Brown Advisory technology analyst and portfolio manager Emmy Wachtmeister sat down with Althea Erickson, VP of Global Public Policy & Impact at Etsy, and Alex Rosen, Director of GoDaddy's Venture Forward project, to discuss the evolution of microbusinesses, and what they mean for the growth and resilience of our communities. Later, David Powell, co-portfolio manager of Brown Advisory's Large-Cap Sustainable Growth strategy, joined Emmy to discuss takeaways for investors (36:18).
Guests:
Althea Erickson
Vice President, Global Public Policy & Impact, EtsyAlex Rosen
Venture Forward Director, GoDaddyHost:
Emmy Wachtmeister, CFA
Equity Research Analyst, Brown AdvisoryInvestment Commentary:
David Powell, CFA
Portfolio Manager, Brown AdvisoryBackground Reading
Venture Forward Report, Fall 2020How Microbusinesses Have Blunted the Impact of COVID-19, GoDaddy, July 28, 2020Fabric of Their Lives, Smithsonian Magazine, October 2006Gee's Bend Quiltmakers, Souls Grown DeepThank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Solving world hunger—or “food insecurity”—is really hard. The solutions are not particularly sexy, and they require a very long-term outlook. We wanted to learn more about the problem and the innovators who are working to solve it.
In part 1 of this conversation, Brown Advisory's Emily High Daniels sat down with two leaders at opposite ends of the impact spectrum. Barron Segar, President and CEO of the World Food Program USA (the program was awarded the 2020 Nobel Peace Prize), is driving innovation and progress on a massive global scale. Mira Mehta is the Founder and CEO of Tomato Jos, a for-profit social enterprise whose mission is to make farming profitable and sustainable for smallholder farmers, while moving their communities toward the middle class. Listen to this conversation in Season 2 | Episode 3.
In this episode—part 2—we welcome two more entrepreneurs. Ezinne Uzo-Okuro, CEO of Terraformers, is using her background as a NASA scientist to empower people to grow healthy food and create sustainable livelihoods. Manuela Zierau, Global Lead of H2Grow, works with communities to grow food—and well-being—in impossible places. Private Client CIO Sid Ahl and CrossBoundary’s Kirtika Challa join Emily to discuss investment takeaways.
Guests:
Barron Segar
CEO, World Food Program USAManuela Zierau
Venture Project Manager, H2GrowEzinne Uzo-Okuro
CEO, TerraformersHost:
Emily High Daniels
Strategic Advisor, Brown AdvisoryInvestment Commentary:
Sid Ahl, CFA
CIO for Private Client, Endowments and Foundations, Brown AdvisoryKirtika Challa
Head of Tunisia Advisory, CrossBoundaryBackground Reading
Growth in the Time of COVID: How a Hydroponics Project is Keeping Refugees in Chad Fed During the Pandemic, WFP Innovation Accelerator, December 18, 2020 A Nigerian Tomato-Farming Business Shows the Human Impact of Private Investment, Invest, USAID, August 21,2020Unlocking Innovation to Disrupt Global Hunger, Fast Company, July 29, 2020COVID-19 is Exacerbating Food Shortages in Africa, World Economic Forum, April 27, 2020United Nations Sustainable Development Goal 2: Zero HungerUnited Nations World Food Programme | NigeriaHunger in America, Feeding AmericaThank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Featuring Barron Segar, USA CEO of Nobel Peace Prizewinner World Food Program, and Mira Mehta, Founder/CEO, Tomato Jos
Solving world hunger—or “food insecurity”—is really hard. The solutions are not particularly sexy, and they require a very long-term outlook. We wanted to learn more about the problem and those who are trying to solve it.
In part 1 of this conversation, Brown Advisory's Emily High Daniels sat down with two leaders at opposite ends of the impact spectrum. Barron Segar, President and CEO of the World Food Program USA (the program was awarded the 2020 Nobel Peace Prize), is driving innovation and progress on a massive global scale. Mira Mehta is the Founder and CEO of Tomato Jos, a for-profit social enterprise whose mission is to make farming profitable and sustainable for smallholder farmers, while moving their communities toward the middle class. From their very different vantage points, Barron and Mira show us how scalable innovation and long-term thinking can translate into progress over time.
In part 2 (which will drop next week), we welcome two additional entrepreneurs (Ezinne Uzo-Okuro, CEO of Terraformers, and Manuela Zierau, Global Lead of H2Grow). Then Emily sits down with Brown Advisory’s Sid Ahl and Kirtika Challa, who leads the Tunisian advisory practice for frontier-market advisor CrossBoundary, to discuss the investment implications for clients.
Guests:
Barron Segar
CEO, World Food Program USAMira Mehta
Founder and CEO, Tomato JosHost:
Emily High Daniels
Strategic Advisor, Brown Advisory
A Nigerian Tomato-Farming Business Shows the Human Impact of Private Investment, Invest, USAID, August 21,2020COVID-19 is Exacerbating Food Shortages in Africa, World Economic Forum, April 27, 2020United Nations Sustainable Development Goal 2: Zero HungerUnited Nations World Food Programme | NigeriaHunger in America, Feeding America
Background ReadingThank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here. Visit our website to learn more: www.brownadvisory.com/now.
We want to hear from you! Send a note to [email protected] to get in touch.The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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In our latest episode, Dr. Daniel Yergin—a leading global authority on energy, economics and geopolitics, and Pulitzer Prize-winning author—sits down with Brown Advisory’s Jane Korhonen to discuss the future of energy, and how that future may shape innovation, international relations and the economy in the years ahead. The stakes are high: Climate change is creating an urgent need for a lower-carbon economy, and the incoming Biden administration will face the daunting challenge of reigniting the U.S. economy in the wake of the pandemic, and energy may be a critical catalyst of that recovery.
We are grateful to Dr. Yergin for sharing his insights with us. The episode also includes a follow-up conversation between Jane and Brown Advisory’s Chief Investment Officer, Paul Chew, in which they discuss some of the implications for investors.
Guest:
Daniel Yergin, Ph.D. Pulitzer Prize-winning Author and Vice Chair, IHS MarkitHost:
Jane Korhonen, CFA
Portfolio Manager, Brown AdvisoryPaul Chew, CFA
Chief Investment Officer, Brown AdvisoryBackground Reading
The New Green Energy Giants Challenging Exxon and BP, The Wall Street Journal, December 11, 2020 (subscription)Progress and Potential for Electric Vehicles to Reduce Carbon Emissions, Resources for the Future, December 8, 2020The New Energy Giants are Renewable Companies, Bloomberg, November 30, 2020 (subscription)Coronavirus Pandemic Speeds Shift to Cleaner Energy; The Wall Street Journal, October 13, 2020 (subscription)Beijing is Winning the Clean Energy Race, Foreign Policy, October 2, 2020The New Map: Energy, Climate and the Clash of Nations, Daniel Yergin, Ph.D., 2020The Prize: The Epic Quest for Oil, Money & Power, Daniel Yergin, Ph.D., 2008Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Thinking that you have to trade off financial performance and sustainability is a “false dichotomy” and a “ridiculous mindset,” according to Alan Jope, CEO of Unilever, one of the largest consumer goods companies on the planet. Jope wants Unilever to be famous for three things: creating an envied portfolio of purpose-driven brands, proving the link between sustainable business and better financial outcomes, and serving as a beacon for diversity and inclusion—and he believes that radical transparency is the way to get there.
Brown Advisory’s Mick Dillon, Co-Portfolio Manager of the Global Leaders equity strategy, sat down with Jope to discuss radical transparency, attracting the next generation of consumers and employees, shaping social and environmental change, the power of capitalism and the need to evolve it. And then Mick and sustainability specialist Katherine Kroll sat down the next day to consider their takeaways as investors.Navigating Our World is the podcast where we seek insights about some of the most pressing questions that we face as investors and as a society. We examine “what’s next”—the forces shaping the post-pandemic world, moving capital and raising the future—with the thoughtful experts across our network. These conversations help us make better decisions for our clients, and we welcome you to join us. Stay tuned at the end of each episode for our investment team’s observations and analysis.
Guest:
Alan Jope, CEO, UnileverHost:
Mick Dillon, CFA
Portfolio Manager, Brown AdvisoryKatherine Kroll
Senior Institutional Sustainable Investing Specialist, Brown AdvisoryBackground Reading:
The Circular Economy: A Transformative Covid-19 Recovery Strategy, Ellen MacArthur Foundation, October 27, 2020Unilever is Using Geolocation Data and Satellite Imagery to Check for Deforestation in Its Supply Chain, CNBC, September 24, 2020Global Leaders Strategy: 2019 ESG Transparency Report, July 14, 2020Dove Self-Esteem Project | Our Mission in Action, April 22, 2020If you would like to explore this issue in more depth, visit the sustainable investing section of our website, where you can find thought pieces by our ESG analysts.
Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here.
We want to hear from you! Send a note to [email protected] to get in touch.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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With devastating wild fires and floods filling our news feeds, the consequences of a changing climate have rarely felt more acute or urgent. In the midst of Climate Week, Brown Advisory’s Karina Funk sat down with Kate Gordon, who leads climate policy for the state of California and is one of the world’s foremost authorities on the intersection of business and climate.
As investors, we are constantly looking for opportunities to mitigate climate risk and support climate solutions. If we can help improve outcomes for the people impacted by climate change, we can generate returns for all of our stakeholders—our clients, colleagues and communities. With California as an epicenter of both climate-based tragedy and innovation, Karina and Kate talk about the ongoing crisis, investing in solutions, and the state’s announcement this week to move toward selling only zero-emissions vehicles by 2035.
Guest
Kate Gordon, Director, California Governor's Office of Planning and Research; Climate Advisor to Governor NewsomHost:
Karina Funk, CFA
Portfolio Manager; Chair of Sustainable Investing, Brown Advisory
Background Reading:
Governor Newsom Announces California Will Phase Out Gasoline-Powered Cars & Drastically Reduce Demand for Fossil Fuel in California’s Fight Against Climate Change, September 23, 2020How Climate Migration Will Reshape America, The New York Times, September 20, 2020A Climate Reckoning in Fire-Stricken California, The New York Times, September 10, 2020Putting California on the High Road: A Jobs and Climate Action Plan for 2030, UC Berkeley Labor Center, September 3, 2020Addressing Climate Change: Principles and Policies, Business Roundtable, September 2020Portfolio Climate Risk Management: Case Studies on Evolving Best Practices, Ceres, July 2020If you would like to explore this issue in more depth, visit the sustainable investing section of our website, where you can find thought pieces by our ESG analysts.
Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here.
We want to hear from our listeners and learn from your thoughts and feedback. Please leave a review or take a moment to fill out a brief questionnaire on our website. It should take less than two minutes to complete. Thank you.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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The data tell the story: Less than 1% of venture capital in the United States is invested in companies led by Black entrepreneurs. Add "female" as a data filter and it drops to 0.2%. Amid reckoning with legacies of racial injustice, we wanted to examine how a lack of representation in the startup ecosystem hinders access to capital for diverse founders. Brown Advisory’s Keith Stone sits down with three thought leaders in the venture industry—Charles Hudson, Richard Kerby and Monique Woodard—to explore paths to a growth economy where an expanded set of innovators and ideas can thrive.
Guests:
Charles Hudson, Founder & Managing Partner, Precursor Ventures Monique Woodard, Founder, Cake VenturesRichard Kerby, Co-founder & General Partner, Equal VenturesHost:
Keith Stone, CAIA
Private Equity Analyst, Brown AdvisoryBackground Reading:
A VC’s Guide to Investing in Black Founders, Harvard Business Review, June 19, 2020Precursor Ventures’ Charles Hudson on ‘the conversation no one has during an upmarket’, TechCrunch (subscription), April 24, 2020The Black Founder List, February 28, 2020Cities Using Capital to Build More Inclusive Ecosystems, November 6, 2019Where Black Female Founders Can Find Funding, Resources, and More, September 22, 2019Where Did You Go to School?, July 30, 2018Thank you for joining us on our podcast journey. To stay in touch about future podcasts, please sign up here.
We want to hear from our listeners and learn from your thoughts and feedback. Please leave a review or take a moment to fill out a brief questionnaire on our website. It should take less than two minutes to complete. Thank you.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
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Speaking with astrophysicist Jason Kalirai is a lesson in perspective. In this episode, Brown Advisory’s Ken Stuzin sits down with Dr. Kalirai to learn how he collaborates across national boundaries to explore the vastness of the universe and find answers to existential questions. As Dr. Kalirai points out, when you look at our planet from space, you see one world with no borders—just land, ocean, air and life—which provides a great antidote to our often polarized experience on Earth.
Guest:
Jason Kalirai, PhD
Space Exploration SectorMission Area Executive for Civil Space
Johns Hopkins University Applied Physics Laboratory
Host:
Ken Stuzin
Portfolio Manager, Brown AdvisoryBackground Reading:
American Spaceflight is Now in Elon Musk’s Hands, The Atlantic, May 27, 2020Hubble Marks 30 Years of Seeing a Universe Being Born and Dying, The New York Times, April 24, 2020The Sun is Still a Burning Mystery. That May Be About to Change, National Geographic, February 7, 2020Ocean Worlds, NASAWe want to hear from our listeners and learn from your thoughts and feedback. Please leave a review or take a moment to fill out a brief questionnaire on our website. It should take less than two minutes to complete. Thank you.
The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client
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Caryl Stern, long-time CEO at UNICEF USA and now executive director at the Walton Family Foundation, has spent her career focused on elevating the well-being of children. While Caryl is deeply concerned about the inequities that the pandemic is exacerbating, she is also profoundly energized about the current innovation, partnerships and social justice movements that can deliver quality education and opportunity for our next generation.
Guest:
Caryl M. Stern
Executive Director, Walton Family FoundationHost:
Dune Thorne, CTFA, CWS
Head of Private Client Growth and Strategy, Brown AdvisoryBackground Reading:
The Results are in for Remote Learning: It Didn’t Work, The Wall Street Journal, June 5, 2020COVID-19 and Student Learning in the United States: The Hurt Could Last a Lifetime, McKinsey, June 1, 2020The Class Divide: Remote Learning at 2 Schools, Private and Public, The New York Times, May 9, 2020The Future of Philanthropy, Ford FoundationI Believe in ZERO: Learning from the World’s Children
We want to hear from our listeners and learn from your thoughts and feedback. Please leave a review or take a moment to fill out a brief questionnaire on our website. It should take less than two minutes to complete. Thank you.The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client
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