The Transition Tapes

Transition Momentum: Rethinking growth, ESG and sustainable finance with Cary Krosinsky

In this episode of The Transition Tapes, Hugh Wheelan speaks with Cary Krosinsky, sustainable finance expert, lecturer at NYU Stern and Harvard, author and co-founder of Carbon Tracker.

Drawing on his latest book, Transition Momentum, co-authored with Professor Johnny Huang, Cary explores why we need to rethink traditional measures of economic growth and how sustainable finance can help accelerate the transition.

They discuss the limitations of GDP, the challenges of accounting for unpriced environmental and financial risks, what ESG investing really means, and how sustainable finance can connect with broader grassroots movements to drive meaningful change.

Cary also shares his Transition Tapes playlist, featuring Miles Davis, Bob Dylan, King Crimson and The Grateful Dead, alongside his favourite books, films, podcasts and career advice.

SFDR 2.0 is set to reshape how sustainable investments are classified and disclosed in the EU. But will the revised framework fix the problems of its predecessor?

In this episode of The Transition Tapes, we’re joined by Andreas Hoepner, Professor of Operational Risk, Banking & Finance at University College Dublin’s Smurfit Graduate Business School and a member of the EU Platform on Sustainable Finance in his personal capacity.

We discuss what went wrong with SFDR 1.0, the main changes proposed under SFDR 2.0, and what the new categories – ESG Basics, Sustainable and Transition – could mean for investors and the wider sustainable finance market.

We also explore the key questions surrounding the EU negotiations and whether the revised rules can deliver on their original goals: improving transparency, tackling greenwashing and directing capital towards the sustainability transition.

🎧 Tune in for an expert perspective on the future of sustainable finance disclosure in Europe.

#TheTransitionTapes #SFDR #SustainableFinance

In this episode of The Transition Tapes, Hugh Wheelan speaks with Simon Rawson, Executive Director of the Taskforce on Inequality and Social-related Financial Disclosures (TISFD), about why social issues are becoming increasingly relevant to business resilience, long-term value creation, and investment decision-making.

Together, they discuss:

• The origins and mission of TISFD, and why it was established.
• How companies and investors can better understand and disclose their impacts and dependencies on people and society.
• Whether stronger, more resilient societies can be incentivised through business and finance.
• The practical challenges of measuring and reporting people-related risks and opportunities.

As always, Simon also shares his Transition Tapes Playlist, along with his favourite books, podcasts, films, and career advice.

Spotify playlist

In this episode of The Transition Tapes, we speak with, Founder & CEO of Theia Finance Labs and Professor in Practice at, about the huge risks embedded in today’s overwhelming investment focus on AI and tech — and how social and regulatory pushback could ‘strand’ some of the sector’s biggest investment bets.

Together with Hugh Wheelan, they explore:

• the “silicon boundaries” we may already be crossing - and the societal and environmental costs involved
• where the data on these issues can be found, and what it reveals
• the growing evidence of societal and regulatory resistance to AI and tech expansion
• what investors should be doing now to finance a more humanly responsible future

Jakob also shares his Transition Tapes playlist — described as “absolute chaos musically and stylistically” — featuring Nina Simone, TLC, Tupac, Gala, Duman and more.

Here's his Transition Tapes playlist: https://open.spotify.com/playlist/4BKFjIl6ZzTFRFKl3XDD4a?si=KOtbVYH4TZu490AWI2pb3Q

In this episode of The Transition Tapes, we speak with Harald Walkate, Advisor on Financing Sustainability & Blended Finance at Route17 and Senior Advisor at the LSE.

We explore the idea of “reference narratives” - the stories that shape how we think about sustainable finance. These narratives can spread quickly, reinforce themselves, and influence decisions, even when they don’t fully reflect reality.

We discuss:
• what reference narratives are and why they matter for sustainable finance
• why market-led narratives have become dominant
• why policy-led approaches often receive less attention
• how current policy initiatives compare in terms of real-world impact

Harald is also a pianist and composer, performing with his jazz group The New York Second.

And explore his Transition Tapes playlist, along with his curated selection of favourite books, films and podcasts. 

Spotify playlist: https://open.spotify.com/playlist/5hjfiUtmCJGQZCte08c8rG?si=YDGHEBmjS9KqgKV9Btu5uw

In this episode of The Transition Tapes, we speak with Justine Leigh-Bell, CEO of the Anthropocene Fixed Income Institute (AFII).

Together, we explore the growing importance of transition risk in the $150 trillion global debt market — and the tension at the heart of sustainable bond labelling in the context of the climate transition.

We discuss:

• how AFII approaches research on the real-world sustainability impact of bond issuance
• why investors should think beyond labels and focus on outcomes
• where the European Green Bond Standard fits into the broader landscape
• how government bonds could play a role in hedging transition risk, including the case for sovereign transition linkers

Justine also shares her Transition Tapes playlist — a top house party selection — along with her favourite books, films, and podcasts.

• 🔗 Spotify playlist

In this episode of The Transition Tapes, Hugh Wheelan speaks with David Carlin, founder of D. A. Carlin and Company, a New York-based sustainability advisory firm, and Visiting Research Fellow at King’s College London, where he focuses on the intersection of sustainability, economics, and finance. In the conversation, they explore the current global landscape of climate and sustainability regulation, and what it means for the energy transition. Among the topics:

• how policymakers and regulators are approaching the development of realistic and pragmatic rules for businesses

• how companies and investors are navigating the evolving international regulatory environment

• which economic sectors are experiencing the most significant transformation driven by climate and sustainability pressureswhich reporting and risk frameworks are most relevant today, for whom, and how they may anticipate future regulations?

He also shares his Transition Tapes playlist - a selection of some of the finest musical storytelling from the rock n’ roll canon.

• 🔗 Spotify playlist

In this episode of The Transition Tapes, Hugh Wheelan with Catherine Howarth, OBE, Chief Executive of ShareAction, the European NGO that pushes for ambitious standards in responsible investment.  
Catherine also serves on the board of NEST pensions, is a member of the Financial Conduct Authority’s advisory committee on sustainable finance and of HM Treasury’s Asset Management Taskforce.  

In the conversation, they discuss ShareAction’s latest campaigns and the broader debates shaping the future of responsible investment. Among the topics:

• how and why ShareAction is campaigning for more pension fund mini-publics as Nest, the giant UK pension fund, carries one out itself

• what ShareAction’s major shareholding voting recommendations are for 2026, and why? 

• the pushback on physical AGMs and why ShareAction is fighting against it

• air pollution: an under-discussed issue with major public health ramifications, and tightening policy and legal frameworks

Catherine reflects on how she and her team stay motivated amid increasing ESG pushback and political headwinds.

As for every Transition Tapes episode, she shares her favourite music - an eclectic mix of country, classical and folk with an undercurrent of social struggle:

• 🔗 Apple

• 🔗 Spotify

In this episode of The Transition Tapes, Hugh Wheelan talks with Rob Bauer, Professor of Finance at Maastricht University, Chair in Institutional Investors, and Director of the European Centre for Sustainable Finance (ECCE).

With extensive experience researching and advising pension funds and institutional investors, Rob brings an evidence-based perspective on how sustainability and climate risk are actually understood — and acted upon — in investment decision-making.

Drawing on new empirical research, Rob cuts through assumptions about investor behaviour to explore what pension fund members want, how professional investors think about climate risk, and when shareholder engagement really delivers value. He also reflects on the commercial and structural barriers that continue to limit investor collaboration.

Hear Rob talk about:

• what pension fund members expect when it comes to sustainability

• what research shows about investor beliefs on climate change

• the evidence on investor engagement and its impact

• why collaboration among investors remains so difficult

Beyond markets and models, Rob shares his interests in history, politics and music — including the tracks that make up his Transition Tapes playlist, spanning new wave, post-punk and indie.

Don’t miss Rob’s recommended reads, podcasts, series and his favourite tunes:

🎵 Playlist:

• ⁠Spotify Playlist

• Apple Playlist

📚 Books:

• Hilary Mantel - Wolf Hall

• Peter Buwalda - Bonita Avenue 

• Donna Tartt - Secret History

• Jan van Aken - De Ommegang

🎙️ Podcasts:

• De stemming (Dutch politics)

• Heavyweight: Great and fun podcast about life (by Jonathan Goldstein)

📺 Series/movies:

• Game of Thrones

• The Leftovers

• One battle after another

In this episode of The Transition Tapes, Hugh Wheelan talks with Rory Sullivan, CEO and Co-Founder of Chronos Sustainability and a leading global expert on climate change, human rights, and sustainable finance.

With over thirty years of experience across public policy, investment management, and advisory roles, Rory brings a clear-eyed perspective on where ESG stands today, and what serious investors should focus on next.

At a time of growing backlash and confusion around sustainable finance, Rory cuts through the noise to separate substance from rhetoric and sets out what credibility, collaboration, and long-term purpose really mean.

Hear Rory talk about:

• What the ESG backlash really is and what it isn’t

• Which investor collaborations still matter now the “tide has gone out”

• How asset owners can clarify long-term, intergenerational purpose

• Why sustainable finance needs a return to Economics 101 on materiality, incentives, and regulation

Beyond markets and policy, Rory also shares his love of books, how he works through writer’s block, and the music that fuels his thinking, captured in his Transition Tapes playlist.

Listen to the episode on:

• 🔗 Apple

• 🔗 Spotify

Don’t miss Rory's favourite Transition Tapes playlist.

🎵 ⁠Spotify Playlist

🎵 Apple Playlist