The Future of Finance Podcast

Georges Dyer
  • 5.0 (11)
  • Education
  • Updated Weekly

Join us as we dive into the transformative power of finance and its potential to create a sustainable, equitable future. Hosted by Georges Dyer, Executive Director of the Intentional Endowments Network, this podcast brings together trailblazing experts, visionary investors, passionate students, and innovative thinkers across finance, academia, sustainability, policy, and civil society. Through engaging conversations, we explore big ideas like sustainable investing, impact-driven strategies, reimagining capitalism, tackling climate change, reducing inequality, and reshaping economic systems to better serve people and the planet. Whether you’re a student aspiring to shape the future of finance or an investor seeking meaningful impact, this podcast is your gateway to understanding how the financial system can evolve to meet today’s challenges and restore the natural systems we all depend on. Subscribe now and be part of the conversation shaping the future!

  1. 23h ago

    Why Physical Climate Risk Still Isn't Priced In, with Eric Collins of CRX.pro

    Physical climate risks such as wildfires, floods, extreme heat, are generating more data than ever, but institutional investors still struggle to translate it into decisions. In this episode, Eric Collins, co-founder of CRX.pro and former tech lead at the University of Washington's Climate Risk Lab, joins Georges Dyer to unpack why the physical risk data industry has a "last mile" problem, and what it actually takes to price this risk into portfolios. Key themes: Why physical risk data is proliferating but investors still lack a way to translate it into fund-level decisions A framework for "priced vs. unpriced" risk across insurance, debt, and credit channels Why utilities are becoming a leading indicator for how markets reprice physical risk Who actually uses this data – asset owners, consultants, and the managers who serve them Georges Dyer and Eric Collins also cover CRX.pro's Resilience Benchmark tool for REITs, the shifting political language around "climate" versus "resilience," and the risk of losing foundational public climate data. Join us at the IEN 2026 Annual Forum, November 18–20 in Toronto. Register here: https://www.intentionalendowments.org/ien_2026_annual_forum   -- Resources: CRX.pro: https://www.crx.pro/ UW Climate Risk Lab: https://foster.uw.edu/uw-climate-risk-lab/ GARP, "A Risk Professional's Guide to Physical Risk Assessments: A GARP Benchmarking Study of 13 Vendors" (2025): https://www.garp.org/white-paper/risk-professionals-guide-251023 Fire Weather by John Vaillant: https://www.penguinrandomhouse.com/books/554938/fire-weather-by-john-vaillant/   --   General Timestamps: 00:01:28 – Introducing Eric Collins and CRX.pro 00:01:44 – The gap in physical climate risk data 00:04:38 – Eric's path: Vanguard, Grow Intelligence, UW Climate Risk Lab 00:13:11 – Inside CRX.pro's Resilience Benchmark for REITs 00:18:43 – Priced vs. unpriced risk: three transmission channels 00:24:13 – Utilities as a case study in repricing 00:26:44 – Who uses this data: asset owners, consultants, and managers 00:38:46 – Climate risk in a shifting political environment 00:41:55 – Public data access and the foundational data layer 00:43:54 – What's next for CRX.pro   --   This conversation is intended to inform institutional decision-making and does not constitute investment advice. Listeners should consult a qualified professional before making investment decisions.

    Why Physical Climate Risk Still Isn't Priced In, with Eric Collins of CRX.pro

  2. Aug 12

    Field Building for System Level Influence Discussion | TIIP 2026 Symposium

    Internal guardrails and standards achieve scale only when supported by coordinated field-level action. Featuring Cambria Allen-Ratzlaff (PRI), Fran Seegull (USIIA), Georges Dyer (IEN), and Josh Zinner (ICCR), this session examined field building as a critical—but often underappreciated—lever for system-level investing. Moderated by Chavon Sutton of Cambridge Associates, panelists explored how investors can shape shared norms, information flows, and policy environments, and why collaboration with peers—including competitors—is often essential to addressing risks no single investor can manage alone.

    Field Building for System Level Influence Discussion | TIIP 2026 Symposium

  3. Aug 5

    The Future of Sustainable Investing in Endowments with George Suttles

    George Suttles is Executive Director of the Common Fund Institute, where he leads the organization's education, benchmarking, and professional development work for endowment and foundation investors. In this episode, Suttles joins host Georges Dyer to discuss how institutional investors are approaching sustainable and mission-aligned investing amid a shifting political and regulatory environment, a conversation relevant to any CIO, trustee, or asset manager weighing how to hold a long-term course through short-term pressure. Key themes covered in this episode: - How fiduciary duty and sustainable investing intersect for long-term institutional investors - What long-running endowment research shows about the direction of the field - How institutions build governance literacy through structured professional development - The current state of diverse manager allocation amid legal and political headwinds This conversation offers a grounded, practitioner's view of how institutional capital continues to evolve without departing from fiduciary discipline.   --   Resources: IEN 2026 Annual Forum 📅 November 18–20, 2026 📍 University of Toronto, ON 🔗 https://www.zeffy.com/en-US/ticketing/2026-annual-forum NACUBO-Commonfund Study of Endowments — https://www.commonfund.org/commonfund-benchmark-studies Investment Stewardship Academy (Commonfund Institute, Yale University) — https://www.commonfund.org/investment-stewardship-academy Espresso Chats podcast (Commonfund Institute) — https://www.commonfund.org/espressochats Impact Finance Center's Diverse Managers initiative — https://impactfinancecenter.org/diverse-managers/   -- General Timestamps: 00:00 Introduction 01:59 Fiduciary Duty and Staying the Course 06:22 Where Institutional Investors Stand Today 10:06 How Asset Managers Are Responding 15:45 Inside the NACUBO-Commonfund Study of Endowments 20:41 Building Governance Literacy 29:36 Diverse Managers Amid Legal and Political Headwinds 38:23 What Effective Governance Change Looks Like 45:59 Closing Thoughts and Advice

    The Future of Sustainable Investing in Endowments with George Suttles

  4. Jul 29

    Fireside Chat about System-Level Investing Book Launch | From the 2026 TIIP Symposium

    As fiduciary expectations evolve, so too must the shared frameworks and reference points that guide boards, CIOs, and investment committees. Moderated by Tynesia Boyea-Robinson (CapEQ), this fireside conversation marks the launch of The Handbook on System-Level Investing. Editors Jon Lukomnik and William Burckart discuss why the Handbook is arriving now—amid intensifying systemic risks, rising scrutiny of fiduciary practice, and growing recognition that diversification alone cannot protect long-term returns. Drawing on case studies from leading global investors, they explore how system-level investing has moved from theory to practice and what decision-makers need to understand as market outcomes are increasingly shaped by system health. Get your copy here: a.co/d/0ch6wiRr

    Fireside Chat about System-Level Investing Book Launch | From the 2026 TIIP Symposium

  5. Jul 22

    Roy Swan of Ford Foundation on His New Book Positive Sum and Fixing Zero-Sum Capitalism

    Roy Swan, Head of Mission Investing at the Ford Foundation, joins Georges Dyer to talk about his new book, Positive Sum: How Zero Sum Thinking Broke Capitalism and How We Can Fix It. Drawing on his experience running Ford Foundation's mission-related investing program, Roy makes the case for positive-sum capital allocation, not as a values position, but as a measurable efficiency argument. For endowment leaders, CIOs, and trustees weighing how fiduciary duty applies in a more complex world, this conversation grounds the debate in economic theory, historical precedent, and portfolio-level evidence rather than advocacy. In this episode, Roy and Georges discuss: The research behind the $50 trillion figure — economic research Roy cites on lost economic output from exclusionary, zero-sum systems, plus supporting data from Citigroup and MIT Sloan on worker disengagement The mathematical origins of zero-sum and positive-sum thinking (von Neumann and Nash) and why the distinction matters for capital allocation How Ford Foundation's mission-related investing program is structured across themes like affordable housing, financial inclusion, and responsible technology Why fiduciary duty and positive externalities are increasingly inseparable for foundations, pensions, and sovereign wealth funds This conversation is intended to inform institutional decision-making and does not constitute investment advice. Listeners should consult a qualified professional before making investment decisions. --   Resources mentioned in this episode: IEN 2026 Annual Forum 📅 November 18–20, 2026 📍 University of Toronto, ON 🔗 https://www.zeffy.com/en-US/ticketing/2026-annual-forum Roy Swan’s Book Positive Sum: How Zero Sum Thinking Broke Capitalism and How We Can Fix It: https://a.co/d/046uE19t RAND Corporation, Trends in Income From 1975 to 2018 (Carter C. Price & Kathryn A. Edwards) → https://www.rand.org/pubs/working_papers/WRA516-1.html  Citigroup research on the cost of racial and economic inequality (est. $16 trillion, ~2000–2020) https://www.citigroup.com/global/insights/closing-the-racial-inequality-gaps-20200922 MIT Sloan / Good Jobs Institute research on worker engagement and its cost to the economy (Prof. Zeynep Ton) https://goodjobsinstitute.org/ --   General Timestamps: 00:00 Introduction 02:17 Why Foundations Separate Endowment from Mission 08:39 Sponsor: IEN 2026 Annual Forum 09:11 The Mathematical Roots of Zero-Sum vs. Positive-Sum Thinking 13:36 Milton Friedman and Why Nations Fail: Rethinking Economic Orthodoxy 23:07 The $50 Trillion Cost of Zero-Sum Thinking, Explained 26:32 Worker Engagement, Culture, and the KKR Proof Point 28:47 Inside Ford Foundation's Mission-Related Investing Portfolio 41:37 Who Needs to Lead the Shift to Positive-Sum Capital 52:27 Roy's Vision for the Future of Finance

    Roy Swan of Ford Foundation on His New Book Positive Sum and Fixing Zero-Sum Capitalism

  6. Jul 15

    3 Systemic Stewardship Levers Every Institutional Investor Needs | Caroline Escott

    In this episode, Georges Dyer is joined by Caroline Escott, Head of Investment Stewardship and Co-Head of Sustainable Ownership at Railpen, the in-house manager for the UK Railways pension schemes overseeing £34 billion on behalf of over 350,000 members. Together they walk through Railpen's December 2025 case study “Systemic Stewardship: The Financially Material Imperative” produced with the Investment Integration Project (TIIP) and Sinclair Capital, distilling five years of live implementation into a framework any asset owner can learn from. What you'll learn: How to deploy company engagement, policy influence, and collaborative initiatives as distinct levers and when each one is the right tool for the job How to identify "systemically important" companies in your portfolio whose governance decisions create ripple effects across entire sectors How to adapt your stewardship approach when the regulatory and political environment shifts without abandoning your financial materiality goals Where to start if you're a smaller or mid-sized asset owner without Railpen's internal resources or scale For CIOs, trustees, and investment teams thinking about how to move from ESG integration to genuine market influence, this episode delivers a concrete, evidence-based framework built over five years of live implementation. Resources mentioned: 📄 Systemic Stewardship: The Financially Material Imperative - Railpen, TIIP & Sinclair Capital (December 2025): https://www.railpen.com/insights/reports/systemic-stewardship-the-financially-material-imperative/ 🌐 Investment Integration Project (TIIP): https://www.tiiproject.com 🌐 Sinclair Capital: https://www.sinclaircapital.com/ 🎙️ Business Pants Podcast - https://open.spotify.com/show/2q1oewA1uEEmTjwKZfDJnp 📋 Railpen Annual Stewardship Reports: https://www.railpen.com General Timestamps:   00:00  Introduction & US SIF Forum 2026 02:10  Why Every Large Investor Should Think Like a Universal Owner 06:45  The TIIP Case Study — Grounding the 3 Levers in Fiduciary Duty 12:00  Lever 1: How to Use Company Engagement for System-Wide Change 20:30  Lever 2: Why Policy Engagement Is Often More Efficient Than Company Engagement 29:15  Lever 3: How to Build Collaborative Initiatives That Actually Work 38:40  How to Adapt Your Levers When the Regulatory Environment Shifts 44:50  How Smaller Asset Owners Can Apply All 3 Levers Without Railpen's Scale 50:20  What Happens When Asset Owners Use Their Collective Sway   – The Future of Finance podcast is produced by the Intentional Endowments Network. New episodes explore how institutional capital can be deployed to build more resilient, prosperous, and sustainable financial systems. – *Disclaimer*   The information presented in this episode reflects the views and opinions of the guest and does not constitute investment, legal, or regulatory advice. The Intentional Endowments Network does not endorse any specific products, services, or organizations referenced herein.

    3 Systemic Stewardship Levers Every Institutional Investor Needs | Caroline Escott

  7. Jul 8

    Reframing Financial Markets Through a Systems Lens featuring Genevieve Hayman | TIIP 2026 Symposium

    Researcher’s View: Reframing Financial Markets Through a Systems Lens Genevieve Hayman, Senior Researcher @ CFA Institute Research and Policy Center To deepen the analytical foundations introduced earlier in the day, Genevieve Hayman of the CFA Institute Research and Policy Center presents findings from her 2025 report (co-authored with Raymond Pang), Reframing Financial Markets as Complex Systems.   The session explores why viewing markets as dynamic, interconnected systems—rather than static, equilibrium-driven constructs—can materially improve how investors understand risk and design portfolios. Hayman introduces tools from complex systems science, including agent-based modeling and network theory, and explains how these concepts can enhance systemic risk analysis, illuminate feedback loops, and support more resilient portfolio construction.

  8. Jul 1

    How Investor Bias Affects Capital Allocation & Returns with Daryn Dodson of Illumen Capital

    Investor bias isn't just a philosophical concern, but a measurable drag on portfolio performance.   Daryn Dodson, Founder and Managing Partner of Illumen Capital and faculty member at Stanford Graduate School of Business, joins Georges Dyer to discuss how systematic bias causes institutional allocators to pass over high-performing managers, what peer-reviewed research reveals about how this dynamic intensifies at higher performance levels, and how Illumen Capital's decade-long bias-reduction curriculum is designed to surface overlooked alpha and drive systems-level change in capital markets. Key themes covered: How bias causes institutional allocators to leave measurable returns on the table — and why the problem compounds as manager performance increases The architecture of Illumen Capital's fund-of-funds model: bias reduction training across three operational areas (deal sourcing, talent, and board selection) sustained over a full 10-year fund cycle Evaluating first-time fund managers across investing, fundraising, and operations — and the structural barriers that affect managers from underrepresented backgrounds The case for diversity in financial ecosystems: why a more representative asset management industry is a systemic performance question, not simply a political one Daryn's foundational research, conducted with Professor Jennifer Eberhardt and the Stanford SPARQ Center, was published in the Proceedings of the National Academy of Sciences and ranks in the top 1% of papers in its publication period.   – Resources Mentioned: Illumen Capital: https://www.illumencapital.com Research Paper — "Race Influences Professional Investors' Financial Judgments" (PNAS): https://www.pnas.org/doi/10.1073/pnas.1822052116 Impact Experience: https://www.impact-experience.com/ Stanford SPARQ Center https://sparq.stanford.edu Book: Enlightened Bottom Line by Jenna Nicholas https://www.jenna-nicholas.com/book   –   General Timestamps:   00:00 Introduction & US SIF Forum 2026 Announcement 02:45 Illumen Capital: Fund-of-Funds Model and Founding Thesis 07:10 Stanford SPARQ Research: How Bias Affects Allocator Decision-Making 13:20 Bias Reduction in Practice: The 3 Operational Areas 19:50 First-Time Fund Managers: Evaluating Investing, Fundraising & Operations 26:15 Why a Fund-of-Funds Structure Fits a Systemic Problem 31:40 Stanford Business School: Teaching Impact Business Models 36:55 Political Polarization, External Stressors & Investor Decision-Making 41:30 CFA Research Policy Council & Institutional Education 44:50 Impact Experience: Sustained Behavior Change Through Environment 52:10 Retro Analysis, Backcasting & the Long-Term Vision for Capital Markets   –   Daryn Dodson Bio:   Daryn Dodson is Managing Director at Illumen Capital, the world's first private equity firm dedicated to addressing bias across financial markets to unlock returns and impact.  Illumen Capital invests in the world’s top impact fund managers and applies research-based interventions in partnership with Stanford University to help fund managers to see past bias to add value.   Daryn previously led the Special Equities Program, as the Private Equity and Venture consultant to the Calvert Funds, the $45 billion pioneer of the impact investing field. Through this vehicle, Calvert maintains a portfolio of more than 40 funds on five continents, representing over 350 underlying portfolio companies across a range of themes including renewable energy, biotech, education technology and microfinance.   Daryn currently serves on the Board of Directors for Ben and Jerry’s, The National Advisory Board of Haas Center for Public Service at Stanford University, and The National Theater in Washington, DC. Daryn is a lecturer in General Management at Stanford Graduate School of Business, where he earned his M.B.A., after receiving an A.B. in Public Policy from Duke University.   – The Future of Finance podcast is produced by the Intentional Endowments Network. New episodes explore how institutional capital can be deployed to build more resilient, prosperous, and sustainable financial systems. –   *Disclaimer* The information presented in this episode reflects the views and opinions of the guest and does not constitute investment, legal, or regulatory advice. The Intentional Endowments Network does not endorse any specific products, services, or organizations referenced herein.

    How Investor Bias Affects Capital Allocation & Returns with Daryn Dodson of Illumen Capital
See All (83)

5
out of 5
11 Ratings

About

Join us as we dive into the transformative power of finance and its potential to create a sustainable, equitable future. Hosted by Georges Dyer, Executive Director of the Intentional Endowments Network, this podcast brings together trailblazing experts, visionary investors, passionate students, and innovative thinkers across finance, academia, sustainability, policy, and civil society. Through engaging conversations, we explore big ideas like sustainable investing, impact-driven strategies, reimagining capitalism, tackling climate change, reducing inequality, and reshaping economic systems to better serve people and the planet. Whether you’re a student aspiring to shape the future of finance or an investor seeking meaningful impact, this podcast is your gateway to understanding how the financial system can evolve to meet today’s challenges and restore the natural systems we all depend on. Subscribe now and be part of the conversation shaping the future!

Information

  • Creator
    Georges Dyer
  • Years Active
    2025 - 2026
  • Episodes
    83
  • Rating
    Clean
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    The Future of Finance Podcast

You Might Also Like