This episode of Sustainability in Conversation focuses on investors and climate transition. We start with an insightful conversation with Thomas Hohne-Sparborth, Head of Sustainability Research at Lombard Odier. He discusses how the asset management firm’s systems-level view of climate transition informs their investment strategy, and shares what that looks like in practice.  

Next, we hear from Alex Osborne-Saponja, Director of ESG Methodology at Sustainalytics and co-author of Transition or Illusion? What Capital Flows Reveal About Net Zero Credibility. Alex shares insights from the report, which examines capital expenditures as a key signal of corporate climate transition credibility. She details why capex is an important indicator and highlights a “mosaic approach” to analysis, combining multiple indicators to infer transition direction.  

Please take a moment to share your thoughts on Sustainability in Conversation. You can email us at [email protected]. 

00:00:00 

Introduction 

00:03:38 

A conversation with Thomas Hohne-Sparborth 

00:17:14 

A conversation with Alex Osborne-Saponja 

00:34:00 

Sign off 

In this episode of Sustainability in Conversation, we welcome our new co-host, Catalina Secreteanu. Catalina has worked in the sustainable investment space for the past 17 years, holding roles at UKSIF and Sustainalytics in the UK and Australia. During that time, she’s had a front row seat to how the industry has evolved. She shares her thoughts on where the market has been and where it’s going, as well as the challenges and opportunities along the ways.  

Melissa and Catalina also sat down with Bin Dong, Lead Analyst, ESG Methodology, and author of the report “ESG Resilience in Focus: What the US-EU Divergence Means for Portfolio Performance.” Building on analysis from a previous publication, this report examines how portfolios adjusted for material sustainability factors perform under pressure in US and EU equity markets. Bin shares the most recent findings and explains how investors could leverage the insights for their own approaches. 

Please take a moment to share your thoughts on Sustainability in Conversation. You can email us at [email protected] or take this short survey.

In this episode, recorded earlier this year, Lindsey sat down with Angela Flaemrich, Matteo Falleca and Ignacio Garcia Giner from Morningstar Sustainalytics’ ESG Proxy Voting Overlay team to discuss their insights from the most recent proxy season. Insights from the discussion include:

00:00:04

Introduction.

00:02:12

Highlights of the sustainability-related proposals from 2025 proxy season.

00:04:55

Insights on support levels for sustainability-related proposals.

00:08:31

Insights on the changing topic mix in the 2025 proxy season.

00:11:12

Overview of climate proposal trends.

00:14:52

Overview of social proposal trends.

00:19:04

Thoughts on the 2026 proxy season.

In this episode of ESG in Conversation, Melissa and Lindsey chat about the continued volatility in the sustainable investing market, as well as luxury brands’ focus on ESG and sustainable supply chains. To kick things off, Melissa interviews Kevin Ranney, Senior Director, Sustainable Fixed Income Research. He talks about the evolution of the sustainable fixed income market and shares insights on the latest enhancements to Morningstar Sustainalytics’ second-party opinion assessment framework. Later, Lindsey sits down with Ruthann Bartello, Senior Director, Global Lead, Stewardship, where they discuss Sustainalytics’ involvement in the Pact for the Future and the importance of bringing the investor voice to the conversation about funding the UN Sustainable Development Goals.  

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected]. 

00:00:24 

Introduction 

00:06:25 

Interview with Kevin Ranney on the evolution of sustainable fixed income investing and Morningstar Sustainalytics second-party opinion framework. 

00:24:44 

Interview with Ruthann Bartello about efforts to allocate more funding to the Sustainable Development Goals. 

00:36:24 

Closing remarks 

Listen to more episodes here.

ESG In Conversation welcomes Lindsey Stewart as the new co-host for the podcast. He and Melissa chat about current developments in the sustainable investment space and the uncertainties investors and companies face. This month’s episode includes three compelling interviews with some of Sustainalytics’ experts, including Lindsey. Tune in to hear perspectives on sustainable investing trends and the continuously changing regulatory landscape. The discussions also cover recent research examining patterns in investors’ proxy voting activities, how companies’ share structures can influence vote outcomes and how that plays out for certain ballot items like say on pay.  

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected]. 

00:00:26 

Introduction 

00:03:32 

Interview with Hortense Bioy on sustainable investing trends, regulatory changes and the impact on the investment funds landscape. 

00:14:29 

Interview with Jackie Cook covering recent research on the impact of dual class share structures on sustainability-focused shareholder resolutions. 

00:28:42 

Interview with Lindsey Stewart on the widening gap between European and US investors environmentally and socially focused shareholder resolutions. 

00:36:24 

Closing remarks 

Ad: To learn more about the Morningstar Sustainable Investing Summit and to register visit https://www.morningstar.com/business/events/morningstar-sustainable-investing-summit 

Host: 

Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics 

Guest: 

It’s the start of a new year, a time when many focus on setting new goals and ambitions. In this episode of ESG in Conversation, we explore the resolutions investors and issuers might make when it comes to ESG, climate transition and regulatory issues. Experts from Morningstar Sustainalytics weigh in and share their predictions on what financial market participants will, or should, focus on in the year ahead.  

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected] or take this short survey. 

00:00:00 

Introduction 

00:00:35 

Thomas Kuh discusses asset owners 

00:05:43 

Catalina Secreteanu discussion ESG risk and opportunities 

00:08:35 

Anne Schoemaker discusses regulations 

00:12:52 

Azadeh Sabour discusses climate transition finance

00:21:58 

Lindsey Stewart discusses stewardship 

00:26:03 

Barbara Lambotte discusses sustainable fixed income 

00:30:59 

Closing remarks 

Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics 

This year, ESG in Conversation examined the sustainability and climate issues that were top of mind for asset owners, asset managers, companies and financial market participants globally. Featuring insights from Morningstar Sustainalytics, listeners heard from subject matter experts on ESG, climate and regulatory issues affecting the market. In this episode, we share some key insights from this past season. Check out the full episodes via the links below and subscribe to the show on your favorite podcast app to hear what’s on the horizon in the year to come.  

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected]. 

00:00:00 

Introduction 

00:00:30 

Asset owners share their voice 

00:02:48 

The AI revolution comes to ESG 

00:07:00 

Climate disclosure rules come to the US 

00:10:10 

Harmonizing sustainability regulations remains a challenge 

00:16:36 

Insights on leveraging ESG ratings in portfolio construction 

00:19:50 

Closing remarks 

00:20:49 

The last word 

• Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics 

• Aymen Karoui, Director of Methodology and Product Architecture, Morningstar Sustainalytics

How can ESG ratings help investors identify risk when constructing and maintaining their portfolios? In this episode, we explore the practical answers to this question and more. We also feature research leveraging Sustainalytics’ Low Carbon Transition Ratings and Physical Climate Risk Metrics assessing companies' misalignment with the transition to net zero.  

We also discussed COP 16, which is focused on biodiversity and the key role of the private sector in addressing biodiversity loss. A recent article using data from our Biodiversity and Natural Capital Stewardship program found that many companies are at the beginning of their journeys. 

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected]. 

00:00:00 

Introduction 

00:01:07 

Interview with Aymen Karoui about Morningstar Sustainalytics report series in collaboration with Natixis exploring the ESG Risk Ratings and portfolio risk 

00:19:51

Overview of the “Navigating Material Climate Risks in the Global Equities Market” report 

00:20:57 

Overview of “Mobilizing the Private Sector for COP16: A Critical Juncture for Biodiversity Action” 

00:22:29

Highlights of upcoming Morningstar Sustainalytics events

• Report series with Natixis  

• ESG Risk Ratings: A 360° Review

More episodes

• Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics 

• Arthur Carabia, ESG Research Policy Director at Morningstar 

On the heels of the EU parliamentary elections and ahead of pivotal contests in the U.S., the U.K. and elsewhere, ESG in Conversation met with Director of ESG Policy Research, Arthur Carabia to discuss what a change in political agendas and shifting priorities could mean for ESG and sustainability-focused regulations globally.  

We also explore the topic of ESG materiality and what it means to asset owners globally, and we discuss its foundational role in the enhancements to Morningstar Sustainalytics' ESG Risks Ratings and corporate governance assessment framework.  

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected]. 

00:00:00 

Introduction 

00:01:34 

Interview with Arthur Carabia about EU election outcomes and the state of ESG regulatory landscape 

00:25:14 

Overview of the Voice of the Asset Owner Survey 2024 

00:26:34 

Updates on Sustainalytics’ corporate governance assessment framework 

00:28:14 

Introduction to “Fundamentals of ESG Materiality: An Overview for Investors” 

• Voice of the Asset Owner Survey 2024: Qualitative Insights 

More Episodes

• Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics

• Arthur Carabia, ESG Research Policy Director at Morningstar

In late March, the U.S. Securities and Exchange Commission introduced a climate disclosure rule that applies to its 10,000 registrant companies. In this episode of ESG in Conversation, we welcome back Arthur Carabia to shed light on what this new rule means for companies and their investors. He also shares his take on how the rule compares to other sustainability and climate disclosure regulations globally. 

Sticking to the regulatory theme, you’ll learn about the EU’s regulations on deforestation-free products and why the issue of environmental regulation is so significant across industries according to our ESG Risk Ratings. 

Please take a moment to share your thoughts on ESG in Conversation. You can email us at [email protected] or take this short survey.  

• The SEC’s Climate Disclosure Rule: A Step in the Right Direction

More Episodes