The Greener Way

A conversation with Josh Gilbert, head of geospatial strategy, ISS STOXX Sustainability, on how geospatial intelligence is reshaping climate and nature risk analysis for investors.

Data overload or data goldmine? Investors race to decode nature’s signals

Question:

How can geospatial tools help investors move from climate risk mapping to nature risk management, and what does this mean for investment decisions?

Answer:

Geospatial data, like satellite imagery and sensor data, has moved from being a reporting tool to a strategic asset for investors. According to Josh Gilbert, head of geospatial strategy, ISS STOXX Sustainability, the challenge is no longer data starvation but “data digestion”: translating abundant, complex environmental data into clear, actionable financial insights. Sectors with tangible assets (like mining, real estate, and infrastructure) are most directly impacted, but as supply chains and nature risks become more visible, all asset classes are affected. The investors who learn to integrate geospatial and nature data into their decision-making will gain a competitive edge.

Why it matters:

For investors, this shift means that understanding climate and nature risks is no longer optional or just a compliance exercise. The ability to interpret and act on geospatial data will increasingly drive portfolio resilience, risk management, and even alpha generation. Those who treat nature and climate data as core investment signals, not just pretty dashboards, will be better positioned in a volatile, changing world.

Sources:

• Josh Gilbert, head of geospatial strategy, ISS Stoxx Sustainability

• Michelle Baltazar, executive director of media, FS Sustainability

• European Space Agency, SustGlobal, Responsible Investing Association Australia

• Industry frameworks: TCFD, IFRS, SASB

Timestamps:

00:00 Data digestion vs data starvation

01:15 Guest background: from economics to geospatial strategy

03:22 Why investors struggle with climate and nature risk

04:59 How geospatial data moves from reporting to real investment insight

06:22 Sectors most impacted by climate and nature risk

08:44 Misconceptions: dashboards vs actionable metrics

10:53 Nature risk management: real-world examples

12:32 The next decade: AI, numeric models, and financial integration

15:32 Competitive edge for early adopters

16:56 Final thoughts and wrap-up

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

*Both FS Sustainability and ISS STOXX Sustainability are owned by ISS STOXX.

HALO trade: Why hard assets are the new gold for sustainable investors

Question:

What is the HALO trade, and why are asset-heavy companies suddenly attracting investor attention in the age of AI and decarbonisation?

Short answer:

The HALO trade (Hard Assets, Low Obsolescence) is reshaping investment strategies. According to Dierdre Cooper, companies tied to physical infrastructure (like grids, pipelines, and industrial equipment) are seeing renewed growth as AI drives demand for electricity and hard assets. Unlike asset-light sectors threatened by automation, these companies are essential for electrification and climate solutions. Investors who focus on this theme may benefit from attractive valuations and strong growth, especially as decarbonisation and electrification accelerate globally.

Why it matters:

For sustainable investors, the HALO trade highlights a shift from tech and asset-light stocks to companies with tangible, enduring value. Understanding this trend means recognising the importance of infrastructure, energy storage, and electrification in a world increasingly powered by AI and climate technology. Missing this shift could mean missing out on the next wave of growth and resilience in global portfolios.

Sources:

• Michelle Baltazar, executive director of media, FS Sustainability

• Dierdre Cooper, head of sustainable equity, Ninety One

• Ninety One Global Environment strategy

• Companies: Contemporary Amperex Technology Co., Limited (CATL), Hongfa Technology, Shaman Electric Co., Limited, Infineon Technologies, TE Connectivity

• Industry context: MSCI All Country World Index, decarbonisation trends

Timestamps:

00:00 Asset-heavy companies and electrification

00:29 HALO trade explained

01:24 Ninety One’s sustainable investing approach

03:15 Global environment strategy vs traditional equity

06:11 AI, asset-light vs asset-heavy sectors

08:32 Data centres and electricity demand

11:30 PE multiples and growth outlook

13:13 Market cycles and investor sentiment

14:28 Electricity as “all of the above” solution

17:25 Exciting trends for the next decade

19:52 Autonomous robots and electrification

20:42 Risks and selectivity in thematic investing

21:33 Wrap-up and final thoughts

We record on Gadigal Land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

AI, Workplace Culture and Labor Rights: Why human capital risk is financially material

This week on The Greener Way, host Michelle Baltazar speaks with Emily DeMasi, regional team lead - North America EOS at Federated Hermes, about why human capital risks, such as workplace culture, harassment and violence, labour rights, and supply chain conditions, are financially material for investors through impacts on productivity, reputation, and long-term returns.

DeMasi explains how stewardship engagement assesses human capital using employee surveys, whistleblower mechanisms, and core disclosure metrics such as workforce size (including gig and contract workers), turnover, demographics, and total workforce cost.

They discuss AI’s double-edged impact, from efficiencies and training needs to job displacement anxiety and potential worker surveillance.

00:39 Why human capital matters

02:45 Workplace harassment as material risk

04:29 Do employee surveys work?

05:50 Investor engagement metrics

07:55 AI workforce disruption

11:13 Case studies

13:43 Best practice supply chain frameworks

16:18 Why stewardship is crucial

17:42 Looking ahead on AI and governance

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

Why Australia Is a Clean Energy Investment Hotspot: Solar, Wind, Batteries & Energy Security | Joost Bergsma

On The Greener Way, host Michelle Baltazar speaks with Joost Bergsma, global head of energy at Nuveen Infrastructure, about clean energy investing, energy security, and why Australia is attractive for large-scale renewables.

Bergsma reflects on his the last two decades in the sector and describes how capital raising has evolved from needing to explain basic technologies to today’s dedicated institutional infrastructure teams, alongside greater competition.

He explains clean energy investments across solar, onshore/offshore wind and battery storage that appeal to Nuveen’s institutional clients.

He also highlights what’s new in the battery storage sector and Australia’s land-driven scale advantages versus Europe.

For investors just entering the clean energy sector, he explains the need to address China-concentrated supply chains and Australia’s grid buildout needs.

01:02 A career milestone in clean energy

02:13 Capital raising outlook

03:09 Nuveen infrastructure strategy

04:43 Geopolitics and energy security

06:47 Data centres and demand surge

08:41 Risk return spectrum explained

09:45 Australian investor appetite

10:54 Nuveen’s local pipeline

12:04 Ten-year outlook on batteries

14:40 What could go wrong?

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

Who Really pays tariffs? Stanford economist breaks down the hidden consumer cost

In this episode of The Greener Way, host Michelle Baltazar speaks with Stanford University economist Luke Heeney about the often-overlooked social impacts of industrial policy, focusing on the 2025 US tariffs and their effects on the automotive sector.

Heeney explains why accounting for tariffs on intermediate inputs is crucial, finding that many US producers lose billions when parts are included, with only one company coming out ahead due to greater domestic sourcing.

He also finds the largest percentage of financial losses fall on the lowest-income households, costing billions of dollars.

00:00 Who pays tariffs?

00:58 Industrial policy focus

03:11 Tariffs study setup

04:30 Key findings explained

06:27 Lessons for Australia

07:37 Why impacts are overlooked

09:37 Staggering consumer costs

12:04 Building better toolkits

14:27 What the government can do

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

Critical Minerals Supercycle? How AI, Clean Energy & Geopolitics Are Reshaping Supply Chains

In this episode of The Greener Way, host Michelle Baltazar chats with Vinnay Cchoda, responsible investment manager at BetaShares, about the predicted shortage of some critical minerals in the next couple of decades and how that could force a resetting of investment expectations and strategies.

Cchoda says the convergence of electrification, AI-driven data center buildout, and unstable geopolitics is causing supply chain issues.

He argues that the supercycle of critical minerals is directionally right but too simplistic, with uneven outcomes across the different types of minerals. For example, lithium and nickel are seeing faster supply responses and price corrections, while copper has hit new highs.

The discussion highlights why investors need to look at their diversification strategies and how to respond to the cycles within the supercycle impacting investment outcomes.

Read: Critical minerals in the age of AI and tariffs (Link: https://www.fssustainability.com.au/article/critical-minerals-in-the-age-of-ai-and-tariffs)

01:08 Three forces converge

04:17 Supercycle creates uneven outcomes

07:27 When AI meets clean energy

09:06 Predicted 40% supply shortage

10:52 Supply chain bottlenecks

13:05 Investor playbook

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders, past and present.

https://www.fssustainability.com.au/

Deep Green vs Medium Green Investing: Returns, Volatility & ESG Trade-Offs | The Greener Way

In this episode of The Greener Way, host Michelle Baltazar speaks with financial adviser Alex Jameison of Jamieson Private Wealth about how investors reassess sustainability preferences amid fuel shortages, energy insecurity, and geopolitical shocks.

Jamieson explains starting with a client’s values and ESG preferences, clarifying what they want to exclude or include (such as mining, defense, tobacco), and discussing “levels of greenness” and potential performance trade-offs—especially when sectors like materials or oil and gas outperform. He notes medium-green portfolios may not see major performance trade-offs, while very deep-green approaches can increase volatility due to concentration and may require a more global investment mindset, with Europe offering larger opportunities than Australia.

02:03 Deep green vs returns

03:54 Explaining cycle differences

05:25 Volatility and global diversification

06:15 Investor expectations and greenwashing

07:59 ESG options and advisor role

09:45 Geopolitics and renewables trends

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

Green loans & cheaper home batteries: How the CEFC Is Powering Australia’s Household Energy Transition

This week on The Greener Way, host Michelle Baltazar chats with Grace Tam, head of consumer finance at the Clean Energy Finance Corporation (CEFC), on how the Australian government, through the CEFC, is driving record levels of green loan applications.

According to the CEFC, the number of loans made under the Household Energy Upgrades Fund™ more than doubled between the first and second halves of 2025, up by 158 per cent. More than 4,100 loans have been made and over 10,000 technology installations completed since the fund was launched.

Tam explains what's worked, the misconceptions around green loans and how lenders are adopting a new approach to appeal to investors and 'green' households.

00:49 What is the CEFC's purpose?

01:02 The latest on the $1bn Household Energy Upgrades Fund

02:33 What is a green loan?

03:21 The green lending ecosystem

05:38 The uptake and key lessons

07:16 The rise of virtual power plants

08:41 Has the risk around green lending changed?

09:54 Barriers and the need for more consumer education

11:10 How lenders are partnering with third parties

12:53 A small window of opportunity

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders, past and present.

https://www.fssustainability.com.au/

What does it actually mean to become a B Corp, and is it worth the effort? In this episode, UNLESS Financial chief sustainability officer and financial adviser Marissa Theodorou talks us through the journey she and the UNLESS team went through recently to become B Corp certified.

Breaking down the business case, timeline, key pillars, and common pitfalls of the process, Theodorou explains why the certification is more than just a badge and highlights the tangible benefits that come with it.

She also touches on how the certification process has been strengthened in recent times to ensure businesses are truly balancing profit with positive impact.

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/

On a recent visit to Sydney, MSCI's global head of sustainability and climate index Sebastien Lieblich sat down with The Greener Way to shed light on how institutional investors, particularly superannuation funds, are changing their approach to climate investing.

Gone are the days of simply excluding or divesting companies, he says. Asset owners are looking more closely at the role benchmarks and index design can play in implementing their goals, embedding climate considerations in investment strategies.

Lieblich also touches on the potential ramifications of the current geopolitical environment and how a disruption to traditional energy sources and supplies could impact the global transition.

We record on Gadigal land and we pay our respects to the traditional custodians of country and elders past and present.

https://www.fssustainability.com.au/