The Greener Way

FS Sustainability
  • 5.0 (3)
  • Investing
  • Updated Weekly

The Greener Way is your podcast for exploring the big environmental, social and governance questions. Each week, The Greener Way will focus on deep conversations with investment and corporate experts who are deeply engaged in managing the sustainability challenges facing our planet. From climate change to biodiversity, human rights and modern slavery to corporate purpose and governance, we tackle head-on the nuances and trade-offs of our complicated world. The Greener Way is the podcast of FS Sustainability, the premier weekly trade publication that covers how investors and companies are changing real world outcomes across environmental, social and governance issues. This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

  1. Catching human rights risks early

    1d ago

    Catching human rights risks early

    Portfolio poison: How ignoring modern slavery risks your returns Question: Why does modern slavery persist despite Australia’s Modern Slavery Act, and what practical steps can investors and fund managers take to drive real change beyond compliance? Answer: Modern slavery remains a global issue, with an estimated 50 million people affected. Australia’s Modern Slavery Act has increased awareness but hasn’t yet reduced incidents. According to Måns Carlsson, OAM, head of ESG at Ausbil Active Sustainable Equity, the key is moving beyond a “compliance mindset” to genuine leadership. This means harmonising laws internationally, adopting human rights due diligence (not just reporting), and using investor influence for practical engagement with companies. Investors can’t guarantee portfolios are free from modern slavery risk, but they can: • Incentivise suppliers to meet responsible sourcing standards, focusing on deeper supply chain tiers (not just tier one). • Use tools like worker voice technology for real-time feedback, rather than relying solely on annual audits. • Collaborate with other investors and advocate for stronger, harmonised laws (e.g., import bans on goods made with forced labour). • Support companies to improve, rewarding progress rather than demanding perfection. The real power lies in ongoing, practical engagement and policy advocacy, not just risk assessments or box-ticking. Why it matters: Modern slavery is not just a legal or ethical issue—it’s a material risk for companies and investors. Reputational damage (as seen with Boohoo in the UK) can hit share prices hard and fast. As global regulation tightens, companies that fail to act may find their goods blocked from key markets. For investors, supporting companies to improve standards helps reduce risk, avoid negative surprises, and contribute to positive change. Sources: • Måns Carlsson, head of ESG, Ausbil Active Sustainable Equity • Michelle Baltazar, executive director of media, FS Sustainability • RIAA Human Rights Working Group toolkits Timestamps: 00:00 – Why modern slavery persists; need for global collaboration 02:01 – Investor relevance: reputational risk, earnings sustainability 05:51 – Harmonisation, human rights due diligence, import bans 08:40 – Practical steps: engagement, worker voice tools, supplier incentives 13:19 – Responsible purchasing and unintended consequences 16:40 – Monitoring deeper supply chain tiers 18:32 – Accountability and ongoing engagement 20:54 – ESG, risk management, and performance 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/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    24 min
  2. Green Bonds: From niche to mainstream

    Jun 15

    Green Bonds: From niche to mainstream

    Is Your Portfolio Missing Out? The Green Bond Boom Explained Question: How have green bonds evolved, what risks and opportunities do they present for investors, and what are the biggest misconceptions about this asset class? Answer: Green bonds have grown into a US $2 trillion global market, with Europe leading but APAC and emerging markets catching up. According to Johann Ple, senior portfolio manager at BNP Paribas Asset Management, green bonds now offer broad sector diversification and transparency, making them a credible alternative to conventional bonds. Risks are similar to traditional bonds (interest rates, credit spreads), but greenwashing and sector concentration require careful due diligence. Misconceptions about lower returns (“greenium”) are fading, and green bonds are increasingly viable for all investors, not just those focused on sustainability. Australian super funds and institutional investors can now build custom strategies, aligning portfolios with net zero ambitions without sacrificing performance. Why it matters: For investors, green bonds represent a way to combine positive environmental impact with competitive returns and transparency. The asset class is mature enough for custom strategies, with over 800 issuers and broad sector representation. Understanding the risks and debunking myths is crucial for informed allocation, especially as demand grows in Australia and globally. Sources: • Johann Ple, senior portfolio manager, BNP Paribas Asset Management • Michelle Baltazar, executive director of media, FS Sustainability • Responsible Investing Association Australia • EU Green Bond Standards, APAC market data Timestamps: 00:00 US as a missed opportunity for green bonds 02:07 Market size: $2 trillion, Europe dominates, APAC and emerging markets rising 03:50 Sector diversification: utilities, banks, real estate, transport, telecom 06:54 Risks: conventional bond risks, greenwashing, sector concentration 09:00 Greenwashing: issuer and project due diligence 11:25 Australia’s role: investor and issuer, custom strategies for super funds 13:03 Misconceptions: returns, “greenium”, ESG backlash 16:54 Growth drivers: APAC, emerging markets, not just Europe We record on Gadigal land and pay our respects to the traditional custodians of country and elders past and present. https://www.fssustainability.com.au/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    18 min
  3. Turning geospatial data into investor insight

    Jun 8

    Turning geospatial data into investor insight

    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. This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    18 min
  4. The appeal of the HALO trade

    Jun 1

    The appeal of the HALO trade

    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/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    22 min
  5. AI and the human capital paradox

    May 25

    AI and the human capital paradox

    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/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    21 min
  6. The next clean energy hotspot

    May 18

    The next clean energy hotspot

    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/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    17 min
  7. The real cost of tariffs

    May 11

    The real cost of tariffs

    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/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    17 min
  8. The supply chain bottleneck

    May 4

    The supply chain bottleneck

    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/ This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

    16 min
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About

The Greener Way is your podcast for exploring the big environmental, social and governance questions. Each week, The Greener Way will focus on deep conversations with investment and corporate experts who are deeply engaged in managing the sustainability challenges facing our planet. From climate change to biodiversity, human rights and modern slavery to corporate purpose and governance, we tackle head-on the nuances and trade-offs of our complicated world. The Greener Way is the podcast of FS Sustainability, the premier weekly trade publication that covers how investors and companies are changing real world outcomes across environmental, social and governance issues. This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy

Information

  • Creator
    FS Sustainability
  • Years Active
    2022 - 2026
  • Episodes
    204
  • Rating
    Clean
  • Copyright
    © Copyright 2026 FS Sustainability
  • Show Website
    The Greener Way

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