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Episodes
Join us for a digest of the latest research, analysis and insights on the relationships between environmental social and corporate governance issues and global business, finance and society. In each episode, hear from experts sharing their insights on how institutional investors can identify and mitigate risks related to ESG factors, but also leverage opportunities in sustainable investment and debt capital markets. This is ESG in Conversation.
Episodes
Thursday Dec 18, 2025
Thursday Dec 18, 2025
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
- Lindsey Stewart, CFA, Director, Institutional Investor Content
Guests:
- Angela Flaemrich, Director, Stewardship
- Matteo Felleca, Analyst, Stewardship
- Ignacio Garcia Giner, Senior Analyst, Stewardship
Bonus Episode: 20-25 Proxy Season Review
In this episode, recorded earlier this year, Lindsey sat down with Angela Flaemrich, Matteo Falleca and Ignacio Garcia Giner from Morningstar Sustainalytics’ ESG Proxy Voting Overlay team to discuss their insights from the most recent proxy season. Insights from the discussion include:
- The decline in the number of sustainability-focused resolutions
- Changes to the regulatory landscape
- Increasing support for resolutions related to shareholder rights
- Lower support for proposals related to climate and DEI issues
Key Moments
|
00:00:04 |
Introduction. |
|
00:02:12 |
Highlights of the sustainability-related proposals from 2025 proxy season. |
|
00:04:55 |
Insights on support levels for sustainability-related proposals. |
|
00:08:31 |
Insights on the changing topic mix in the 2025 proxy season. |
|
00:11:12 |
Overview of climate proposal trends. |
|
00:14:52 |
Overview of social proposal trends. |
|
00:19:04 |
Thoughts on the 2026 proxy season. |
Links to Selected Resources
- Can Big Tech Keep Its Climate Commitments as Data Centers Scale?
- Investor Views on AI Oversight
- Voice of the Asset Owner Survey 2025 Qualitative Insights
- Voice of the Asset Owner Survey 2025 Quantitative Analysis
Tuesday Apr 29, 2025
Tuesday Apr 29, 2025
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
- Lindsey Stewart, CFA, Director of Investment Stewardship Research, Morningstar Sustainalytics
Guests:
- Ruthann Bartello, Senior Director, Global Lead, Stewardship
- Kevin Ranney, Senior Director, Sustainable Fixed Income Research
Allocating Funds to Support a Sustainable Future
In this episode of ESG in Conversation, Melissa and Lindsey chat about the continued volatility in the sustainable investing market, as well as luxury brands’ focus on ESG and sustainable supply chains. To kick things off, Melissa interviews Kevin Ranney, Senior Director, Sustainable Fixed Income Research. He talks about the evolution of the sustainable fixed income market and shares insights on the latest enhancements to Morningstar Sustainalytics’ second-party opinion assessment framework. Later, Lindsey sits down with Ruthann Bartello, Senior Director, Global Lead, Stewardship, where they discuss Sustainalytics’ involvement in the Pact for the Future and the importance of bringing the investor voice to the conversation about funding the UN Sustainable Development Goals.
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Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com.
Key Moments
|
00:00:24 |
Introduction |
|
00:06:25 |
Interview with Kevin Ranney on the evolution of sustainable fixed income investing and Morningstar Sustainalytics second-party opinion framework. |
|
00:24:44 |
Interview with Ruthann Bartello about efforts to allocate more funding to the Sustainable Development Goals. |
|
00:36:24 |
Closing remarks |
Links to Select Resources
- Sustainalytics Insight: Second Party Opinions a Primary Focus
- Webinar | Enhanced Assessment Framework for Use of Proceeds Second-Party Opinions
Thursday Mar 27, 2025
Thursday Mar 27, 2025
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
- Lindsey Stewart, CFA, Director of Investment Stewardship Research, Morningstar Sustainalytics
Guests:
- Hortense Bioy, CFA, Head of Sustainable Investing Research
- Jackie Cook, Senior Director, Stewardship
Trends in Sustainable Investing and ESG-Focused Proxy Voting Activities
ESG In Conversation welcomes Lindsey Stewart as the new co-host for the podcast. He and Melissa chat about current developments in the sustainable investment space and the uncertainties investors and companies face. This month’s episode includes three compelling interviews with some of Sustainalytics’ experts, including Lindsey. Tune in to hear perspectives on sustainable investing trends and the continuously changing regulatory landscape. The discussions also cover recent research examining patterns in investors’ proxy voting activities, how companies’ share structures can influence vote outcomes and how that plays out for certain ballot items like say on pay.
Share Your Feedback
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com.
Key Moments
|
00:00:26 |
Introduction |
|
00:03:32 |
Interview with Hortense Bioy on sustainable investing trends, regulatory changes and the impact on the investment funds landscape. |
|
00:14:29 |
Interview with Jackie Cook covering recent research on the impact of dual class share structures on sustainability-focused shareholder resolutions. |
|
00:28:42 |
Interview with Lindsey Stewart on the widening gap between European and US investors environmentally and socially focused shareholder resolutions. |
|
00:36:24 |
Closing remarks |
Links to Select Resources
- Six Sustainable Investing Trends to Watch in 2025 Report
- Shareholder Democracy and the Challenge of Dual Class Share Structures
- Say on Pay: CEO Compensation and the Long Tail of Shareholder Dissent
- Voting on ESG: A Gap Becomes a Gulf
Ad: To learn more about the Morningstar Sustainable Investing Summit and to register visit https://www.morningstar.com/business/events/morningstar-sustainable-investing-summit
Thursday Jan 30, 2025
Thursday Jan 30, 2025
Episode Summary
Host:
Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guest:
- Thomas Kuh, Head of ESG Strategy, Morningstar Indexes
- Barbara Lambotte, Head of Sustainable Fixed Income Research
- Azadeh Sabour, Director of Climate Thought Leadership, North America
- Anne Schoemaker, Director, ESG Products
- Catalina Secreteanu, Managing Director, ESG Solutions, Europe
- Lindsey Stewart, Director of Investment Stewardship Research
2025: A Year of Change in Sustainable Investing
It’s the start of a new year, a time when many focus on setting new goals and ambitions. In this episode of ESG in Conversation, we explore the resolutions investors and issuers might make when it comes to ESG, climate transition and regulatory issues. Experts from Morningstar Sustainalytics weigh in and share their predictions on what financial market participants will, or should, focus on in the year ahead.
Share Your Feedback
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com or take this short survey.
Key Moments
|
00:00:00 |
Introduction |
|
00:00:35 |
Thomas Kuh discusses asset owners |
|
00:05:43 |
Catalina Secreteanu discussion ESG risk and opportunities |
|
00:08:35 |
Anne Schoemaker discusses regulations |
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00:12:52 |
Azadeh Sabour discusses climate transition finance |
|
00:21:58 |
Lindsey Stewart discusses stewardship |
|
00:26:03 |
Barbara Lambotte discusses sustainable fixed income |
|
00:30:59 |
Closing remarks |
Links to Select Resources
Wednesday Nov 20, 2024
Wednesday Nov 20, 2024
Episode Summary
Host:
Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guest:
- Thomas Kuh, Head of ESG Strategy, Morningstar Indexes
- Arthur Carabia, ESG Research Policy Director at Morningstar
- Kilian Theil, Associate Director, Intelligent Process Automation, Morningstar Sustainalytics
- Andrei Hera, former Senior Manager Data Science, Morningstar Sustainalytics
- Aymen Karoui, Director of Methodology and Product Architecture, Morningstar Sustainalytics
2024: A Year in Conversation
This year, ESG in Conversation examined the sustainability and climate issues that were top of mind for asset owners, asset managers, companies and financial market participants globally. Featuring insights from Morningstar Sustainalytics, listeners heard from subject matter experts on ESG, climate and regulatory issues affecting the market. In this episode, we share some key insights from this past season. Check out the full episodes via the links below and subscribe to the show on your favorite podcast app to hear what’s on the horizon in the year to come.
Share Your Feedback
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com.
Key Moments
|
00:00:00 |
Introduction |
|
00:00:30 |
Asset owners share their voice |
|
00:02:48 |
The AI revolution comes to ESG |
|
00:07:00 |
Climate disclosure rules come to the US |
|
00:10:10 |
Harmonizing sustainability regulations remains a challenge |
|
00:16:36 |
Insights on leveraging ESG ratings in portfolio construction |
|
00:19:50 |
Closing remarks |
|
00:20:49 |
The last word |
Links to Select Resources:
- Featured episodes:
- 2024 Voice of the Asset Owner Survey – Quantitative Analysis
Wednesday Sep 25, 2024
Wednesday Sep 25, 2024
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guest:
- Aymen Karoui, Director of Methodology and Product Architecture, Morningstar Sustainalytics
Data as the Foundation for Successful Portfolios
How can ESG ratings help investors identify risk when constructing and maintaining their portfolios? In this episode, we explore the practical answers to this question and more. We also feature research leveraging Sustainalytics’ Low Carbon Transition Ratings and Physical Climate Risk Metrics assessing companies' misalignment with the transition to net zero.
We also discussed COP 16, which is focused on biodiversity and the key role of the private sector in addressing biodiversity loss. A recent article using data from our Biodiversity and Natural Capital Stewardship program found that many companies are at the beginning of their journeys.
Share Your Feedback
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com.
Key Moments
|
00:00:00 |
Introduction |
|
00:01:07 |
Interview with Aymen Karoui about Morningstar Sustainalytics report series in collaboration with Natixis exploring the ESG Risk Ratings and portfolio risk |
|
00:19:51 |
Overview of the “Navigating Material Climate Risks in the Global Equities Market” report |
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00:20:57 |
Overview of “Mobilizing the Private Sector for COP16: A Critical Juncture for Biodiversity Action” |
|
00:22:29 |
Highlights of upcoming Morningstar Sustainalytics events |
Links to Select Resources
Friday Jun 21, 2024
Friday Jun 21, 2024
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guest:
- Arthur Carabia, ESG Research Policy Director at Morningstar
In Global Financial Markets, ESG Materiality Matters
On the heels of the EU parliamentary elections and ahead of pivotal contests in the U.S., the U.K. and elsewhere, ESG in Conversation met with Director of ESG Policy Research, Arthur Carabia to discuss what a change in political agendas and shifting priorities could mean for ESG and sustainability-focused regulations globally.
We also explore the topic of ESG materiality and what it means to asset owners globally, and we discuss its foundational role in the enhancements to Morningstar Sustainalytics' ESG Risks Ratings and corporate governance assessment framework.
Share Your Feedback
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com.
Key Moments
|
00:00:00 |
Introduction |
|
00:01:34 |
Interview with Arthur Carabia about EU election outcomes and the state of ESG regulatory landscape |
|
00:25:14 |
Overview of the Voice of the Asset Owner Survey 2024 |
|
00:26:34 |
Updates on Sustainalytics’ corporate governance assessment framework |
|
00:28:14 |
Introduction to “Fundamentals of ESG Materiality: An Overview for Investors” |
Links to Select Resources
- Voice of the Asset Owner Survey 2024: Qualitative Insights
- On the Materiality of Corporate Governance: Themes, Applications and Best Practices
- Fundamentals of ESG Materiality: An Overview for Investors
- Webinar | Single, Double or Dynamic? An Exploration of Materiality in ESG Approaches to Investment
Friday May 03, 2024
Friday May 03, 2024
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guest:
- Arthur Carabia, ESG Research Policy Director at Morningstar
The SEC’s New Rule Ushers in Climate Transparency and Reporting in the U.S.
In late March, the U.S. Securities and Exchange Commission introduced a climate disclosure rule that applies to its 10,000 registrant companies. In this episode of ESG in Conversation, we welcome back Arthur Carabia to shed light on what this new rule means for companies and their investors. He also shares his take on how the rule compares to other sustainability and climate disclosure regulations globally.
Sticking to the regulatory theme, you’ll learn about the EU’s regulations on deforestation-free products and why the issue of environmental regulation is so significant across industries according to our ESG Risk Ratings.
Finally, we share insight on the troublingly persistent issue of child labor in the cocoa supply chain.
Share Your Feedback
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com or take this short survey.
Key Moments
| 00:00:00 | Introduction |
| 00:01:38 | Interview with Arthur Carabia about the SEC’s new climate disclosure rule |
| 00:12:53 | Overview of the EU Regulation on Deforestation-Free Products |
| 00:14:09 | Insights from Morningstar Sustainalytics annual Industry Reports |
| 00:15:13 | Details on child labor in global cocoa supply chains |
Links to Select Resources
- The SEC’s Climate Disclosure Rule: A Step in the Right Direction
- EUDR: Navigating the EU Regulation on Deforestation-Free Products
- The State of ESG Risk Across Industries: Three Key Takeaways From Our Annual Industry Reports
- Child Labor in Cocoa Supply Chains: Unveiling the Layers of Human Rights Challenges
Monday Mar 18, 2024
Monday Mar 18, 2024
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guests:
- Kilian Theil, Associate Director, Intelligent Process Automation, Morningstar Sustainalytics
- Andrei Hera, Senior Manager Data Science, Morningstar Sustainalytics
AI Technology is Reshaping the World of ESG Assessments
In recent years the marvels of artificial intelligence have been touted across various sectors. As applications of AI technology proliferate, in this episode of ESG in Conversation we chat about how it’s being used in the ESG research space. Members of Morningstar Sustainalytics data research and development teams discuss how the company has been leveraging AI technologies for the past decade and what’s on the horizon in terms of gathering and analyzing corporate ESG risk data.
You’ll also learn more about ESG risks in global supply chains as we share insights from our recently published ESG Spotlight series. The reports explore the impact of supply chain incidents, with a focus on human rights and biodiversity loss. They also offer investors frameworks for assessing supply chain-related risks among portfolio companies and potential strategies to improve portfolio performance and mitigate losses.
Share Your Thoughts About the Show
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com or take this short survey.
Key Moments
|
00:00:00 |
Introduction |
|
00:01:17 |
Interview with Kilian Theil and Andrei Hera on how AI is changing the world of ESG research and assessments |
|
00:20:52 |
Overview of the ESG Spotlight series on ESG risks in supply chains |
Links to Select Resources
Wednesday Jan 31, 2024
Wednesday Jan 31, 2024
Episode Summary
Host:
- Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics
Guest:
- Thomas Kuh, Head of ESG Strategy, Morningstar Indexes
Survey Says... Asset Owners Are Committed to Sustainable Investing
In this episode of ESG in Conversation, Thomas Kuh, Head of ESG Strategy at Morningstar Indexes shares the results from Morningstar Indexes and Morningstar Sustainalytics’ Voice of the Asset Owner Survey. Not surprisingly, asset owners are concerned about the influence of global events on the market. They are confused about ever-changing regulations and are seeking improvements and reliability from ESG service providers. Despite these challenges, asset owners also say they remain committed to sustainability and are putting more resources towards their ESG strategies.
You’ll also learn more about the low-carbon transition risks facing some of the world’s biggest food companies and the steps they can take to get their emissions reductions back on track. Finally, the start of 2024 brings new sustainability-focused regulations. The Corporate Sustainability Reporting Directive (CSRD) came into effect in the European Union on Jan. 1 and will apply to nearly 60,000 companies globally. The directive could be a watershed moment for corporate reporting as well as investors seeking more sustainability data from issuers.
Tell Us What You Think
Please take a moment to share your thoughts on ESG in Conversation. You can email us at podcast@sustainalytics.com or take this short survey.
Key Moments
|
00:00:00 |
Introduction |
|
00:01:30 |
Interview with Thomas Kuh discussing asset owners’ views on ESG investing |
|
00:10:52 |
Insights on the low-carbon transition risks of major food companies and how they can reduce emissions |
|
00:12.33 |
Details on the Corporate Sustainability Reporting Directive |
Links to Select Resources
- Voice of the Asset Owner 2023: Quantitative Analysis
- Big Food’s Broken Promises: The Data Behind the Food Industry’s Rising Emissions
- CSRD Reporting: Preparing for Mandatory ESG Disclosure Deadlines