Episodes
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Kathleen Simpson and Brad Harrison: Scaling Impact at The Russell Family Foundation
In this episode, hosts Chris Ito and Georges Dyer engage with Kathleen Simpson, CEO of The Russell Family Foundation (TRFF), and Brad Harrison of AlTi Tiedemann Global, TRFF's investment advisor, to explore the intersection of mission-driven investing, shareholder engagement, and the critical role of impact strategies in addressing global climate challenge. Recorded just days after the U.S. election, the episode offers timely insights into navigating uncertainty in the energy transition and scaling impactful investments.
GuestsKathleen Simpson - Chief Executive Officer, The Russell Family Foundation
Brad Harrison - Co-Head of Impact Strategy, AlTi Tiedemann Global
BackgroundKathleen Simpson serves as CEO of The Russell Family Foundation, where she guides strategic planning, programs, and community affairs while overseeing the Foundation's impact investing. Under her leadership, first as CFO and now as CEO, the foundation has transformed its portfolio from 7% to nearly 95% impact-aligned investments. She champions TRFF’s Net Zero commitment and regional food systems initiatives while serving on numerous nonprofit boards. With extensive experience in finance and leadership, Kathleen has helped reimagine philanthropy through a decarbonization lens.
Brad Harrison co-leads AlTi's impact investing strategy globally and oversees the firm's Climate Sustainability strategy focused on accelerating the net zero transition. Working with clients to align capital with purpose, Brad’s holistic approach integrates financial innovation with environmental stewardship. He brings decades of experience in climate investing and collaboration with organizations like the Global Impact Investing Network.
ConversationDecarbonization and Impact Journey: Learn how TRFF evolved from initial experiments with community bank investments to becoming a leader in mission-aligned investing with 94% of assets aligned with impact goals.Net Zero Framework: Discussion of TRFF's approach to achieving net zero, combining investments in decarbonization technologies with nature-based solutions for a holistic environmental impact.Transparency and Field-Building: Insights into TRFF's commitment to transparency and field-building through sharing their investment policies and strategies openly.Navigating Policy and Political Uncertainty: Reflecting on the 2024 election, the conversation addresses challenges to the Inflation Reduction Act and its implications for impact investors.Impact Measurement: Details about TRFF's participation in the IEN's Endowment Impact Benchmark initiative and achieving a platinum rating, demonstrating the value of third-party verification.Future Challenges: The duo share insights on addressing the “last mile” of decarbonization and maintaining a balance between net zero goals and meaningful impact.Listen as Chris and Georges explore how foundations can lead the way in impact investing while maintaining strong returns and building a more sustainable future.
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Will Attenborough and Leila Mimmack: Celebrity Activism Meets Climate Finance
In this episode, hosts Georges Dyer and Chris Ito are joined by British actors Will Attenborough and Leila Mimmack to share their journey from the world of acting to leading impactful climate campaigns, leveraging their public platforms to drive change in sustainability and finance. Despite coming from acclaimed acting families, Will and Leila bring an unassuming yet passionate approach to raising awareness on environmental issues through their creative work.
GuestsWill Attenborough – Actor and Climate Activist
Leila Mimmack – Actor and Climate Activist
BackgroundWill Attenborough is a British actor renowned for stage and film roles. Inspired by Desmond Tutu's climate justice work, he played a pivotal role in Divest London’s push for fossil fuel divestment. Will spearheaded campaigns within the acting union Equity, achieving the UK's first fossil-free pension fund options for artists. He champions sustainable storytelling, leveraging celebrity influence to model climate solutions. With an acclaimed family legacy, Will uses his platform authentically to shift narratives and inspire urgent environmental action.
Leila Mimmack is a British stage and screen actor driving environmental causes. Alongside Will Attenborough, she catalyzed a grassroots campaign within the Equity trade union, pioneering fossil fuel divestment and greener pension investments for artists. Leila's climate activism stems from her youth, attending rallies inspired by her teacher's rainforest lessons. Now using her creative talents, she collaborates on projects like Equity for a Green New Deal and sustainable theatre practices. Leila harnesses storytelling to reshape society's perspectives on pursuing an ecologically-conscious future.
ConversationDiving into Divestment: Will and Leila recount their journeys into climate activism, starting with the Divest London campaign and efforts to push the London Pension Fund Authority away from fossil fuel investments.Union Power for Change: Hear about their strategies working within the Equity trade union to pass motions, lobby leaders, and create more sustainable investment policies for artists.The Struggle for Real Impact: The guests discuss the challenges of achieving meaningful change within complex pension funds and institutional inertia around sustainable investing.Sustainable Storytelling: Will and Leila explore how their backgrounds as actors allow them to shift narratives and model positive climate solutions through creative projects like the "Green Rider" initiative.Actors as Activists: The role of celebrity activism and harnessing the cultural influence of entertainers to inspire climate action in an authentic, relatable way.Join Chris and George for an engaging discussion on the intersections of art, activism, and finance in driving a better environmental future.
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Missing episodes?
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Heather Beatty: Avoided Emissions and Public Markets Climate Solutions
Join hosts Chris Ito and Georges Dyer as they sit down with Heather Beatty, the CEO of ScopeFour Capital, for an insightful discussion on climate solutions in public equity markets. Heather Beatty shares her journey in sustainable investing, her vision for ScopeFour Capital and the importance of focusing on scalable climate solutions beyond just renewables.
GuestHeather Beatty – CEO, ScopeFour Capital
BackgroundHeather Beatty is the founder and CEO of ScopeFour Capital, an asset management firm dedicated to investing in companies that produce and scale climate solutions. With over 20 years in the institutional world, Heather is passionate about creating impactful change through strategic capital allocation. She draws inspiration from Project Drawdown and the Crane Tool to guide ScopeFour Capital's investment approach. Previously at First Eagle, she created and co-chaired the firm's first climate council. In addition to her climate-related contributions, Heather co-founded Women in Institutional Investments Network (WIIIN), a Los Angeles-based 501c3 as part of her commitment to the advancement of diversity, equity and inclusion.
ConversationScaling Climate Solutions: Heather explains how ScopeFour Capital focuses on investing in listed equities that are producing and scaling climate solutions.Beyond Renewables: Discussion on the broader market for climate solutions, including waste management, green infrastructure, and building energy efficiency.Emission Reduction Potential: Understanding how ScopeFour Capital evaluates avoided emissions and the impact of climate solutions by associating them with company revenue, R&D, and capital expenditures.Global Trends and Policy Impacts: Insight into how global policy trends and the upcoming US election cycle could impact climate investments.Navigating High Interest Rates: Addressing investor concerns about a persistent high interest rate environment and its effect on capital-intensive climate solutions.Diversity in Asset Management: Heather discusses the significance of diversity in asset management and the progress the industry has made.Tune in to gain valuable insights into investing in climate solutions, understanding the broader market dynamics, and navigating the complexities of sustainable investing.
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Jeff Gitterman: Pragmatism over Polarization in Long-Term Investing
Sustainable investing veteran, Jeff Gitterman, joins hosts Chris and Georges to discuss bridging divides in ESG investing and climate change debates. Gitterman advocates pragmatism - finding common ground between proponents and skeptics. Key highlights include investment opportunities in climate solutions like infrastructure, recognizing physical risks as warning signs, and widening the sustainable investing tent to diverse viewpoints. While addressing challenges, Gitterman underscores the necessity of open dialogue, consensus-building, and reframing ESG around stakeholder capitalism over political divisions. Listeners gain insights into navigating complexities, advancing sustainable investing through understanding, and meeting investors where they are.
GuestJeff Gitterman - CEO, Gitterman Asset Management
BackgroundJeff Gitterman is a pioneering leader in sustainable investing. With over 30 years of experience as a financial advisor, he is the Co-Founder of Gitterman Wealth Management where he created the SMART Investing Solutions for climate-aware portfolio allocation. He launched Gitterman Asset Management in 2020, focusing on ESG strategies and thought leadership for financial and institutional markets. Jeff co-hosts TheIMPACT TV, contributes to major media, and champions the UN's Sustainable Development Goals. Beyond investing, Jeff serves on the board of the Child Health Institute of New Jersey and supports autism awareness.
ConversationHighlights the importance of finding common ground between proponents and skeptics of ESG investing and reframing the ESG/sustainable investing debate around stakeholder capitalism vs shareholder primacy, rather than getting mired in political divisions over "values."Explains the critical role and significant opportunities in the climate solution space around infrastructure investment. Physical risks associated with climate change act as a catalyst for investors to recognize and act on these opportunities.Advocates the need for more clarity and consistency in messaging and labeling around ESG investing to reduce confusion, especially from regulators like the SEC.Urges pragmatism in the face of climate challenges – recognizing the complexities and divisions in society, investors need to meet people and other investors where they are and be open to listening to differing viewpoints. -
Presidio Student Insights: A Winning Pitch from the Next Generation of Sustainable Investors
In this episode, hosts Chris Ito and Georges Dyer engage in a captivating conversation with a trio of students from Presidio Graduate School, who were members of the team that emerged victorious in the IEN's 2023 Student Corporate Engagement Challenge in the Graduate category. The challenge encourages students to pitch an investment in a publicly traded company, coupled with a shareholder engagement strategy. The conversation focuses on their investment pitch for First Solar and its groundbreaking thin-film cadmium telluride technology, offering a more sustainable alternative to traditional solar panels.
Guests
The winning team members from Presidio Graduate School include Callie Greene, Stephanie Motta, Claire Nevels, Kate Vachon, and Lauren Novak.
In this episode, Georges and Chris talk with Callie Green, Steph Motta and Claire Nevels
Highlights
Explores the rationale behind an investment in First SolarUnderscores the importance of engaging on diversity, equity and inclusion (DEI), especially in leadership, as an area where companies can improve and unlock economic value.Illustrates the pivotal role of educational institutions in empowering students to advocate for systemic changes towards a more sustainable and just world.Showcases the proactive steps being taken by the next generation in aligning investment strategies with the urgent need for environmental and social justice. -
Ian Fuller: Unlocking Diversity for Alpha and Impact Investing
This episode features Ian Fuller, CEO and Co-Founder of Westfuller Advisors, a minority and women-owned investment advisory firm and Outsourced CIO dedicated to impact investing. Georges and Chris talk with Ian about his personal journey from New York’s Lower East Side to Wall Street as context for Westfuller's mission to drive change through ethical investments, and challenging traditional notions of money's role in building a sustainable future.
GuestIan Fuller - CEO and Co-Founder, Westfuller Advisors
BackgroundIan Fuller is CEO and Co-Founder of Westfuller, a Black-majority, woman- and LGBTQ-owned investment advisory firm. As specialist in evidence-driven, global wealth advisory and planning, strategic investment management, and philanthropic giving, Ian works closely with people and institutions to empower wealth with purpose. He is a believer in the promise of money and financial systems to drive a flourishing democracy and economy. Ian co-leads the firm’s commitment to support efforts building: a just and equitable society, public purpose finance for All, and community infrastructure and assets.
ConversationSheds light on how to define impact investing and how it is fundamentally different from ESG integration or responsible investing.Addresses the nuances and differences between net zero and a just transition, and the challenges around implementing an investment strategy that prioritizes both concepts.Discusses the challenges of being a minority-owned investment firm and how asset allocators investing in diverse managers are generating returns. -
Dr. Michael Greenstone: Decoding the social cost of carbon and the carbon offset market
In this episode, Chris and Georges do a deep dive into the economic implications of carbon emissions with one of the world’s leading climate finance experts, Dr. Michael Greenstone. As a former chief economist for President Obama's Council of Economic Advisers, Dr. Greenstone played a pivotal role in developing the "social cost of carbon." The trio discusses the significance of understanding the economic cost of carbon emissions and the tools policymakers have at their disposal to combat climate change.
GuestDr. Michael Greenstone, Milton Friedman Distinguished Service Professor in Economics
BackgroundMichael Greenstone is the Milton Friedman Distinguished Service Professor in Economics as well as the Director of the Becker Friedman Institute and the interdisciplinary Energy Policy Institute at the University of Chicago. As a co-director of the Climate Impact Lab, he is producing empirically grounded estimates of the local and global impacts of climate change. He is also the co-director of the King Climate Action Initiative at the Abdul Latif Jameel Poverty Action Lab, and co-founder of Climate Vault, a 501(c)(3) that uses markets to allow institutions and people to reduce their carbon footprint.
ConversationSheds light on the concept of the social cost of carbon, its current applications, and the overarching importance of carbon pricing in shaping future climate policies, especially in the United States.Touches upon the controversial topic of carbon offsets, distinguishing between the voluntary offset market and regulated cap and trade permitting systems.Introduces Climate Vault, a non-profit startup co-founded by Dr. Greenstone that not only allows entities to offset emissions using regulated permits but also aids in purchasing carbon removal, thereby supporting emerging carbon removal companies to scale their technologies. -
Elysabeth Alfano: Reaching Net Zero through Plant-based Innovation
In this episode, Georges and Chris delve into the world of plant-based foods and explore the potential of this burgeoning industry with Elysabeth Alfano, a renowned expert at investing in companies that innovate with plants to produce animal-free products for sustainable consumption. Elysabeth discusses the health, environmental, and ethical implications of this dietary shift and shares her insights on the role of plant-based foods in mitigating climate change.
GuestElysabeth Alfano, Co-Founder and CEO of VegTech™ Invest
BackgroundElysabeth Alfano is the CEO of VegTech™ Invest, the advisor to the Plant-based Innovation & Climate ETF (EATV). As one of the foremost experts in the industry, Elysabeth speaks on the latest plant-based business and investment developments. She also speaks on issues of a shifting global food supply system and what it represents for sustainability, climate change, food insecurity, human health, animal welfare and a growing global population.
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Tom Soto: Diversity in Asset Management Meets Carbon Negative Investing
Georges and Chris talk with impact investor Tom Soto on his trajectory from civil rights activist to a leader in environmental technology and renewable energy, including his new fund strategy that enhances biomass plants using forest standing deadwood to create 24-hour dispatchable power that is fully renewable and net carbon negative.
GuestTom Soto, Founder and Managing Partner, Latimer Partners, LLC
BackgroundTom Soto is a long-time impact investor, entrepreneur and civil rights leader working at the intersection of politics, activism and finance. Tom has founded four private equity investment funds with a focus on clean technology, AI, Fintech and infrastructure. He now manages his family investment office, Latimer Partners, LLC. As a gay, Latino fund manager, Tom has been a pioneering voice for diversity in fund management and technology movement.
ConversationThe son two of California’s most well-respected Latino Civil Rights leaders, Tom credits his father Assemblyman Phil Soto, his mother Nell Soto, and the culture of community service and improvement that propelled him to the intersection of politics, activism, environmentalism and the investment world.D4IR (Diversity in the Fourth Industrial Revolution) takes technology and traditional hardware, combines it with software within the energy transition world and puts it into one format.To avoid 1.5 degrees Celsius, we have to find opportunities that go net carbon negative on a mass scale.Monetizing carbon and biochar to fuel fully renewable biomass facilities that feed peak and base loads will keep the economy running when the sun is not shining and the wind is not blowing. -
Spotlight on Methane: Satellite Technology and Emissions Detection with Mark Kriss
Georges and Chris sit down with Geofinancial Analytics CEO Mark Kriss and take a birds eye view on detecting methane emissions from space, mapping those emissions to oil and gas asset owners and driving methane management accountability and reporting transparency.
GuestMark Kriss, CEO, Geofinancial Analytics
BackgroundMark Kriss is the Co-Founder and Chief Executive Officer of Geofinancial Analytics, a science-driven data provider whose civic mission is to accelerate the clean energy transition by informing decisions and business practices with transparent, objective facts using advanced geospatial technology. He is also the Co-Founder and Partner of Macroclimate, an impact investment firm which served as an incubator for Geofinancial Analytics. Kriss is a serial tech entrepreneur, impact investor, and thought leader on sustainability data and climate risk metrics. He first became intrigued by portfolio management in 1998.
ConversationMark’s career arc brings together the topics of climate science, technology and capital markets.Methane is by far the most potent GHG, and stopping methane leakage from oil & gas production is a relatively easy fix.Satellite technology enables a more accurate measurement than current practice and can help to identify and remediate the source of the leaks.Learn about MethaneScan® 100 Screening & Research: https://www.ffisolutions.com/methanescan-100/
For more information on Geofinancial Analytics: https://www.geofinancial.com
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Georges and Chris have a wide-ranging discussion with impact investment trailblazer Jenna Nicholas, who takes us on her career journey through climate activism, community-informed impact investing and climate finance in 401(k) retirement plans.
Guest
Jenna Nicholas, CEO Impact Experience
Background
Jenna is a private equity investor and the CEO of Impact Experience, an organization that builds bridges and deep relationships between impact investors, foundations, corporates, entrepreneurs, artists and local leaders to co-create solutions for marginalized communities.
Jenna previously worked with Divest-Invest Philanthropy and has taken the lessons from that experience and applied them to help drive change around environmental and social issues from the bottom up.
ConversationWe go deep on her work at Impact Experience, and she shares stories about the hands-on efforts in communities like Montgomery, AL, and southern West Virginia to bring together businesses, capital and communities to catalyze impact.Jenna discusses her latest project, the Business Climate Finance Initiative which seeks to raise awareness and decarbonize the assets in 401(k) plans and corporate deposits.Finally, we delve into the politicization of ESG and break down the recent U.S. Department of Labor ruling on ESG that has been the subject of considerable debate.For more information regarding the activities of Impact Experience: https://www.impact-experience.com
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Chris and Georges talk climate and curve balls with major league baseball player Brent Suter. The discussion centers around how athletes can use their platform to raise awareness of environmental issues.
GuestBrent Suter, Colorado Rockies, LHPBackgroundBrent Suter is starting his eight season in major league baseball and his first for the Colorado Rockies.Brent is a left-handed relief pitcher, a self-proclaimed “tree-hugger” and board member of Players for the Planet. He uses his voice and position as a professional athlete to promote sustainability in the clubhouse and in the community. ConversationChris, Georges and Brent discuss the divisions in our society and the role athletes can play in helping bridge those divides including climate change. Brent goes deep on the activities of Players for the Planet while also delving into the activities that teams and leagues can play in incorporating sustainability into their operations. He also shares his involvement with community-based programs like the Urban Ecology Center in Milwaukee, where he spent his first 7 big-league seasons.There’s a little something for everyone, including references to NIL, carbon offsets, the Bengals' DE Sam Hubbard, and how you don’t need to throw a mid-90s heater to be an effective major league pitcher.For more information regarding the activities of Players for the Planet: https://www.playersfortheplanet.org.
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Chris and Georges talk with Arizona State University CIO Jeff Mindlin about the journey to align investment practices with the sustainability goals and commitments of a large public university.
GuestJeff Mindlin, Chief Investment Officer of ASU Enterprise PartnersBackgroundArizona State University is known globally for its leadership in sustainability, having been a founding member of the Intentional Endowment Network and the University Climate Change Coalition (UC3).Investment assets in ASU’s endowment are managed by the Foundation and are overseen by ASU Enterprise Partners. The ASU Foundation has steadily been working alongside ASU to elevate sustainable, responsible, and impact investing approaches into the endowment strategy. The ASU Foundation’s current investment priorities are centered on climate and justice, equity, diversity, and inclusion. ConversationChris, Georges and Jeff discuss a topics that range from the governance of the Foundation to implementation through the use of an outsourced chief investment officer (OCIO).Jeff shares perspectives on how various university stakeholders are involved in shaping policies via the ESG Sub-Committee. He also provides insights on the benefits of launching an ESG strategy through a separate pool of assets, the role of hedge funds in implementing climate strategies, and the incorporation of Justice, Equity, Diversity and Inclusion (JEDI) factors.For more information, see the highlights from ASU’s impact report released earlier this year: https://www.intentionalendowments.org/asu_investing_report
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Chris and George talk with UVIMCO’s Cornelia Horner for insights on how one of the largest and most well-respected endowment managers committed to and is implementing a responsible investment strategy.
GuestCornelia Horner, Director of Strategic Initiatives and Communications Lead at the University of Virginia Investment Management Company (UVIMCO).BackgroundColleges and universities are at the forefront of education and research on issues such as sustainability and climate change. Not surprisingly, endowments of those institutions are being engaged, often pressed, by its stakeholders to align investment strategies with the beliefs and carbon neutrality commitments of the university at large.UVIMCO has always considered environmental, social, and governance issues as part of its due diligence process for investments, but prior to 2021, had not formalized such practices in its investment policies. UVIMCO recognized the growing need to address climate change more directly and to align with the University of Virginia’s ongoing leadership and commitment to sustainability.ConversationThe discussion ranges from policy development to implementation, and the practical challenges of aligning ESG, net zero and DE&I with the endowment’s primary responsibility of generating returns to support the broader university mission.Cornelia describes the benefits and challenges of establishing policies that integrate ESG broadly, and climate and DE&I specifically, into what is a proven investment process for selecting managers. -
In their inaugural Beyond Carbon episode, Georges Dyer (Intentional Endowments Network) and Chris Ito (FFI Solutions) reflect on COP27 and discuss what makes them hopeful, and skeptical, about the future of sustainable investing. They also provide a preview of future episodes.
Highlights include news and activities across the investment landscape that both support and give pause to the notion that sustainable investing will continue its growth trajectory.
Supporting factors:The increasing number of institutions who have committed to “do something” whether it be engage, divest, integrate ESG, align portfolios with net zero targets, or incorporate DEIJ.Significant momentum in market-driven shifts, - the passage of the Inflation Reduction Act in the US.Challenges slowing implementation:Lack of common, generally accepted definitions for the various approaches to sustainable investing. The recent anti-ESG attacks highlight the lack of understanding.Data quality and reliability that preventing investors from taking action.Uncertainty around whether sustainable investing is going to help long-term risk-adjusted performance. Future Episodes - Guests (and perhaps skeptics) that will give perspectives on these and other debates that are emerging among capital allocators:Ecomodernism vs. environmentalism.Green growth vs. de-growth.Are carbon capture technologies a solution or greenwashing?What about carbon offsets?And are fossil fuel companies really transitioning?
