S5 Ep. 4 Green or merely clean? The trouble with ESG investing

Host Nigel Timperley talks to Shyam Gharial from LCP’s responsible investment team. They explore how ESG has evolved from a simple risk-management framework into a proactive tool for enabling real-world change, moving beyond "clean" portfolios to actively financing the transition in hard-to-abate sectors. They cover: • The original purpose of ESG as a risk-management tool • The limits of “clean” portfolios in a system-wide transition • Why transition-enabling investment now matters more than carbon snapshots, and why this often means engaging with high emitters that have credible plans to change. • How climate risk is reshaping long-term investment thinking across the board.