The Future of Finance Podcast

Georges Dyer

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

    4d ago

    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.

    1h 7m

  2. Jun 24

    Applying Fiduciary Duties to System Level Investing | Maurits Dolmans, TIIP 2026 Symposium

    Fiduciary Duty in Focus Applying Fiduciary Duties to System-level Investing   Tools and dashboards are only actionable if they are grounded in fiduciary clarity. Maurits Dolman (Cleary Gottlieb Steen & Hamilton LLP, speaking in his own capacity) and George Suttles (Commonfund Institute) examine how fiduciary duty—properly understood—requires investors to consider risks and responsibilities that arise at the level of the financial system itself. Drawing on trust and pension law and comparative fiduciary practice, they argue that prudence today must account for foreseeable, material systemic risks such as climate change, inequality, and financial instability. The session makes the case that system-level investing is not a departure from fiduciary duty, but it’s necessary evolution in an era where long-term portfolio performance depends on system resilience.   Discussants: Maurits Dolmans, Senior Counsel @ Clearly Gottlieb George Suttles, Executive Director @ Commonfund Institute

    42 min
  3. Amy Jaffe on Energy Risk, Climate Justice & What Institutional Investors Need Now

    Jun 17

    Amy Jaffe on Energy Risk, Climate Justice & What Institutional Investors Need Now

    Amy Jaffe, Director of the Energy, Climate Justice & Sustainability Lab at NYU, joins Georges Dyer for a rigorous, wide-ranging conversation on how institutional investors need to be thinking about energy risk, climate justice, and long-term capital allocation right now. As one of the most respected voices at the intersection of energy markets, sustainability, and institutional finance, Jaffe brings analytical precision and on-the-ground perspective to questions that every CIO, endowment leader, and asset manager navigating the energy transition needs to engage with seriously. -- Key themes explored in this episode: - How NYU's Energy, Climate Justice & Sustainability Lab is training the next generation of investors and practitioners to operate across traditional energy systems and sustainability frameworks simultaneously - Why sustainability must function as a genuine risk lens rather than a screening product, and what that distinction means for how institutional portfolios are actually built and managed - The state of the global energy transition in 2026: AI data center demand, LNG supply disruptions, Pakistan's rapid solar buildout, and why natural gas is structurally too slow to manage the new load curve - How adaptation finance and climate justice work are being deployed at the community level and whether capital is actually reaching the populations and geographies that need it most The Future of Finance is produced by the Intentional Endowments Network, supporting institutional investors in aligning capital with long-term value and resilience.   –   General Timestamps: 00:00 Introduction: Amy Jaffe & NYU's Energy, Climate Justice & Sustainability Lab 03:20 How Amy Jaffe's Career Spans Energy Markets, Policy & Institutional Investment 08:45 What the NYU Lab Does — and Who It Serves 16:10 Student-Corporate Partnerships: Google, National Grid & Fusion Energy Research 22:00 Sustainability as a Risk Lens vs. a Screening Product 28:30 The Opportunity Side: Affordable Housing & Climate Solutions Investing 35:00 The New NYU Sustainability Master's Program: What It Teaches and Why Now 42:15 Climate Justice, Adaptation Finance & Community-Level Work in New York City 49:00 Energy Transition Outlook: Iran, LNG Disruption & Global Renewable Momentum 58:30 AI Data Centers, Battery Storage & the Limits of Natural Gas 1:05:00 Advice for Institutional Investors Navigating the Energy Transition   –   Resources:   Podcasts The Energy Gang: https://www.woodmac.com/podcasts/energy-gang/ Books "Choke Points: American Power in the Age of Economic Warfare" by Edward Fishman (2025) "Energy's Digital Future" by Amy Myers Jaffe: https://cup.columbia.edu/book/energys-digital-future/9780231196826/ Organizations: Solar One; https://solar1.org/ East New York Farms: https://www.eastnewyorkfarms.org/ Research Index ND-GAIN Country Index: https://gain.nd.edu/our-work/country-index/   --   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.

    1h 10m

  4. Jun 10

    State of the Industry: What Markets Miss | CEO Bill Burckart, TIIP 2026 Symposium

    US SIF: https://web.cvent.com/event/e6c2819f-b8d1-4861-bc7c-21a6e47c6c66/summary   Institutional investors are confronting a structural shift in how risk, return, and resilience are shaped. Climate instability, inequality, democratic fragility, and market concentration are no longer peripheral concerns—they are system-level forces that increasingly determine portfolio outcomes. Yet the dominant tools of modern investment practice, from portfolio theory to ESG integration, were not designed to manage recursive, market-wide risks. Drawing on a decade of field-building and recent work with leading asset owners, Burckart will share how system-level investing has moved from an emerging idea to an operating imperative and reflect on our central challenge: how to translate system-level ambition into repeatable governance, portfolio-wide decision-making, and durable influence on the systems that underpin long-term value creation.   -   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.

    30 min
  5. How Hamilton Lane's Dave Helgerson Deploys Impact Across Private Markets

    Jun 3

    How Hamilton Lane's Dave Helgerson Deploys Impact Across Private Markets

    Dave Helgerson, Managing Director and Head of Impact Investing at Hamilton Lane — one of the world's leading private markets firms with over $1 trillion in assets under management — joins Georges Dyer to make the case that impact investing is not a values compromise but a structural opportunity. With over 22 years at Hamilton Lane building impact strategies from the ground up, Dave offers a rare inside view of how institutional-grade private capital can generate market-rate returns while directing investment toward the energy transition, sustainable supply chains, health access, and community development. Key themes covered in this episode: - How Hamilton Lane structures impact investing across verticals — clean energy transition, sustainable solutions, health & wellness, and community development — and why that framework sharpens, not softens, investment discipline - The distinction between ESG as risk management ("playing defense") and impact investing as opportunity identification ("playing offense"), and why both are necessary within a diversified institutional portfolio - How accelerants like AI-driven data center energy demand and geopolitical energy security risks are reshaping the investment case for renewables — independent of policy cycles - Why endowments and foundations are a natural fit for long-duration private markets impact strategies, and how smaller institutions can access this asset class through fund-of-funds structures - For institutional investors evaluating the long-term role of private markets in a sustainable portfolio, this conversation offers both the strategic framework and the on-the-ground evidence to move that conversation forward. Resources: Book: The Code Breaker: Jennifer Doudna, Gene Editing, and the Future of the Human Race - Walter Isaacson Book: The New Map: Energy, Climate, and the Clash of Nations - Daniel Yergin Book: The Prize: The Epic Quest for Oil, Money, and Power - Daniel Yergin Capital Allocators Podcast - https://www.capitalallocators.com/ Dwarkesh Podcast - https://www.youtube.com/playlist?list=PLd7-bHaQwnthaNDpZ32TtYONGVk95-fhF – General Timestamps: 00:00:00 Introduction & SIF Announcement 00:01:12 Welcome & Guest Introduction — Dave Helgerson, Hamilton Lane 00:02:45 Hamilton Lane Overview: From Advisory Roots to $1T Platform 00:07:22 The New York State Common Origin Story & Building the First Impact Strategy 00:12:36 ESG vs. Impact — Playing Defense vs. Playing Offense 00:14:52 Energy Security, the Iran War & Why Diversification Matters 00:16:04 Hamilton Lane's Impact Framework: Environmental & Social Verticals 00:22:34 Portfolio Deep Dive: EeroSafe & the Cold Chain Innovation Case 00:25:32 Addressing LP Skepticism — Do Impact Strategies Sacrifice Returns? 00:28:54 Global Momentum: How Europe, Asia & the U.S. Are Moving Differently 00:32:21 AI, Data Centers & the Accelerating Demand for Energy Infrastructure 00:33:55 Google, Intersect Power & What Big Tech's Energy Moves Signal 00:40:52 Endowments & Foundations — Fit, Access & Minimums 00:43:34 Rapid Fire: Books, Resources & Advice for Emerging Investors 00:46:19 Vision for the Future of Finance 00:47:39 Advice for the Next Generation - *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.

    50 min
  6. IEN Virtual Forum 2026: 12 Sessions on System-Level Investing & Climate Solutions

    May 27

    IEN Virtual Forum 2026: 12 Sessions on System-Level Investing & Climate Solutions

    The Intentional Endowments Network's 2026 Virtual Forum convenes June 2–4, bringing together institutional investors, legal scholars, climate strategists, and asset management practitioners for three days of structured dialogue on system-level investing, fiduciary duty, and long-term capital markets reform. Register using code IENGUEST at https://www.intentionalendowments.org/2026_virtual_forum In this preview episode, IEN Executive Director Georges Dyer walks through the full agenda — offering context on why each session was designed and who it's for. Key themes across the three-day forum: System-level investing frameworks and the newly published Handbook of System-Level Investing, featuring co-editors John McCormick and Bill Burkhart Fiduciary duty in the context of climate and ESG — legal perspectives from Keith Johnson and Susan Gary Climate solutions and portfolio alignment, including sessions with Project Drawdown, Climate Interactive, and Cambridge University's fossil-free cash fund case study Responsible AI, diversity in asset management, and the role of consultants in sustainable investing   The forum runs June 2–4, 12:00–2:30 PM Eastern daily. Registration and full agenda available at intentionalendowments.org.

    6 min
  7. What Investment Consultants Actually Look For | Akasha Absher, Syntrinsic

    May 20

    What Investment Consultants Actually Look For | Akasha Absher, Syntrinsic

    Akasha Absher, Co-President at Syntrinsic — an institutional advisory firm managing approximately $3 billion for foundations, endowments, and nonprofits — offers a rare inside view into how investment consultants evaluate mission-aligned managers, advise fiduciaries on portfolio construction, and help clients navigate the tension between financial objectives and long-term systemic risk. As OCIOs and consultants become central to how institutional capital is allocated, Absher's perspective bridges the gap between investment theory and on-the-ground practice.   Key themes covered in this episode: Manager Due Diligence & Mission Alignment — How consultants evaluate ESG and impact managers beyond labels, including the role of intentionality, measurement, and outcomes across asset classes Fiduciary Duty Redefined — Why aligning investments with institutional mission is not in conflict with fiduciary responsibility — and how boards can reframe the performance conversation Systems-Level Investing in Practice — How endowments and foundations are beginning to address systemic risks (climate, inequality, AI disruption) through capital allocation, stewardship, and coalition engagement Emerging Managers & Access to Capital — The structural barriers new and diverse managers face and what asset owners can do to responsibly catalyze emerging strategies This conversation is essential for investment committees, OCIOs, and institutional advisors seeking a grounded, practitioner-level perspective on sustainable portfolio construction. – Resources: Impact Management Project framework - https://impactfrontiers.org/norms/ Endowment Impact Benchmark - https://endowmentimpactbenchmark.org/ Winners Take All by Anand Giridharadas -https://share.google/jze1kMR1TpXmVJsBo Syntrinsic - https://www.syntrinsic.com – General Timestamps: 00:00 Introduction & IEN 2026 Virtual Forum Announcement 02:30 About Syntrinsic: Firm Overview and Client Base 05:30 Akasha's Path from Wall Street to Institutional Consulting 10:15 Mission-Aligned Investing: Client Adoption and Common Concerns 16:00 Navigating the Financial Performance Question 22:10 Manager Due Diligence: Evaluating ESG and Impact Strategies 29:45 Asset Class Differences: Public vs. Private Markets for Impact 36:20 Systems-Level Investing and Systemic Risk Management 42:00 Emerging Managers and Access to Institutional Capital 48:30 The Endowment Impact Benchmark and Reporting Best Practices 55:10 Rapid Fire: Advice for Institutional Investors and Young Professionals   -   *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.

    58 min
  8. What LPs Should Be Asking GPs About AI Right Now | Emily Goldstein McGowan, Malk Partners

    May 13

    What LPs Should Be Asking GPs About AI Right Now | Emily Goldstein McGowan, Malk Partners

    Register for IEN's Virtual Forum here: https://www.intentionalendowments.org/2026_virtual_forum Emily Goldstein-McGowan, Vice President and Head of Growth & Venture Capital at Malk Partners, the foremost ESG advisor to private market investors, joins Georges Dyer to examine how institutional asset owners and GPs are navigating the governance, risk, and due diligence dimensions of responsible AI. Drawing on Malk's landmark 2024 quick guide for asset owners (developed with ILPA) and two years of evolving LP-GP conversations, Emily offers a grounded, practitioner-level view of where responsible AI integration stands today and where it is headed. Key themes covered in this episode: How LP questions have shifted from "are you using AI?" to "how are you governing it?" — and what best-practice oversight structures look like at the GP level The five responsible AI risk categories for private market investors (bias, privacy, job displacement, carbon emissions, lack of diversity) and which are gaining urgency AI-native companies vs. AI-adopting portfolio companies: why the diligence framework differs and what LPs should be requiring from GPs during holding periods The regulatory landscape — EU AI Act, U.S. state-level proposals, and why investors should be preparing portfolio companies now, regardless of enforcement timelines The Future of Finance podcast is produced by the Intentional Endowments Network, advancing the alignment of institutional capital with long-term value and systemic resilience. – Resources References: ILPA x Malk Partners: Responsible AI Quick Guide for Asset Owners - https://ilpa.org/wp-content/uploads/2023/10/Responsible-AI-Quick-Guide-for-Asset-Owners.pdf ILPA ESG Quick Guide Overviews - https://ilpa.org/resource/esg-quick-guide-overviews/ Malk Partners: Responsible AI in Private Markets - https://malk.com/responsible-ai-in-private-markets-risks-regulations-and-best-practices/ NIST AI Risk Management Framework - https://www.nist.gov/itl/ai-risk-management-framework Partnership on AI (PAI) -  https://partnershiponai.org/ EU AI Act: Official Overview - https://digital-strategy.ec.europa.eu/en/policies/regulatory-framework-ai Reframe Venture: Responsible AI Due Diligence Toolkit - https://www.reframeventure.com/vcs/ai-dd IEN Responsible AI Investor Hub -  https://intentionalendowments.org Planet Money Podcast (NPR) — https://www.npr.org/podcasts/510289/planet-money – General Timestamps: 00:00 Introduction & Overview of Malk Partners 04:10 Origins of the ILPA Responsible AI Quick Guide 08:30 Five Core AI Risk Categories for Private Market Investors 14:00 The Evolution of LP-GP Conversations on AI Governance 19:45 Best Practices: Oversight Structures, Policies & Training 25:20 AI-Native vs. AI-Adopting Companies: Diligence Differences 31:00 Data Center Environmental Impact & Net Zero Considerations 36:15 AI Regulation: EU AI Act, U.S. State Laws & Investor Preparedness 42:00 Frameworks & Resources for Resource-Constrained Teams 46:30 The Future of Finance: Moving Beyond Labels to Materiality   The Future of Finance podcast is produced by the Intentional Endowments Network, advancing the alignment of institutional capital with long-term value and systemic resilience. 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.

    49 min
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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
    76
  • Rating
    Clean
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    The Future of Finance Podcast

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