The Transition Tapes

Episode 11 | Harald Walkate - Rethinking sustainable finance narratives

In this episode of The Transition Tapes, we speak with Harald Walkate, Advisor on Financing Sustainability & Blended Finance at Route17 and Senior Advisor at the LSE.   We explore the idea of “reference narratives” - the stories that shape how we think about sustainable finance. These narratives can spread quickly, reinforce themselves, and influence decisions, even when they don’t fully reflect reality.   We discuss: • what reference narratives are and why they matter for sustainable finance • why market-led narratives have become dominant • why policy-led approaches often receive less attention • how current policy initiatives compare in terms of real-world impact   Harald is also a pianist and composer, performing with his jazz group The New York Second.   And explore his Transition Tapes playlist, along with his curated selection of favourite books, films and podcasts.  Spotify playlist: https://open.spotify.com/playlist/5hjfiUtmCJGQZCte08c8rG?si=YDGHEBmjS9KqgKV9Btu5uw

Episode 10 | Justine Leigh Bell - How to assess and price transition risks in the bond market

In this episode of The Transition Tapes, we speak with Justine Leigh-Bell, CEO of the Anthropocene Fixed Income Institute (AFII). Together, we explore the growing importance of transition risk in the $150 trillion global debt market — and the tension at the heart of sustainable bond labelling in the context of the climate transition. We discuss: * how AFII approaches research on the real-world sustainability impact of bond issuance * why investors should think beyond labels and focus on outcomes * where the European Green Bond Standard fits into the broader landscape * how government bonds could play a role in hedging transition risk, including the case for sovereign transition linkers Justine also shares her Transition Tapes playlist — a top house party selection — along with her favourite books, films, and podcasts. * 🔗 Spotify playlist [https://open.spotify.com/playlist/4NNqTTS6V2fdGKuA9hIkvS?si=pxuuYrJ7SzqsPobJABfOGw]

Episode 9 | David Carlin - Rules, risks, and the energy transition

In this episode of The Transition Tapes, Hugh Wheelan speaks with David Carlin, founder of D. A. Carlin and Company, a New York-based sustainability advisory firm, and Visiting Research Fellow at King’s College London, where he focuses on the intersection of sustainability, economics, and finance. In the conversation, they explore the current global landscape of climate and sustainability regulation, and what it means for the energy transition. Among the topics: * how policymakers and regulators are approaching the development of realistic and pragmatic rules for businesses * how companies and investors are navigating the evolving international regulatory environment * which economic sectors are experiencing the most significant transformation driven by climate and sustainability pressureswhich reporting and risk frameworks are most relevant today, for whom, and how they may anticipate future regulations? He also shares his Transition Tapes playlist - a selection of some of the finest musical storytelling from the rock n’ roll canon. * 🔗 Spotify playlist [https://open.spotify.com/playlist/2aToJgqeHF7Zp2VJkXn78D?si=EqBjyJ0jTk6lZXzH7Q2t3w]

Episode 8 | Catherine Howarth - Turning shareholding into action

In this episode of The Transition Tapes, Hugh Wheelan with Catherine Howarth, OBE, Chief Executive of ShareAction, the European NGO that pushes for ambitious standards in responsible investment.   Catherine also serves on the board of NEST pensions, is a member of the Financial Conduct Authority’s advisory committee on sustainable finance and of HM Treasury’s Asset Management Taskforce.   In the conversation, they discuss ShareAction’s latest campaigns and the broader debates shaping the future of responsible investment. Among the topics: * how and why ShareAction is campaigning for more pension fund mini-publics as Nest, the giant UK pension fund, carries one out itself * what ShareAction’s major shareholding voting recommendations are for 2026, and why?  * the pushback on physical AGMs and why ShareAction is fighting against it * air pollution: an under-discussed issue with major public health ramifications, and tightening policy and legal frameworks Catherine reflects on how she and her team stay motivated amid increasing ESG pushback and political headwinds. As for every Transition Tapes episode, she shares her favourite music - an eclectic mix of country, classical and folk with an undercurrent of social struggle: * 🔗 Apple [https://music.apple.com/cz/playlist/catherine-howarth-the-transition-tapes/pl.u-MDAWv0Du46Drmp] * 🔗 Spotify [https://open.spotify.com/playlist/4oRJTtaybA6BRUis6LUce6?si=2H0lP6YoQj2O5oGvGeJuHg&nd=1&dlsi=6c19290e4944429b]

Episode 7 | Rob Bauer: Sustainable investing…belief or evidence?

In this episode of The Transition Tapes, Hugh Wheelan talks with Rob Bauer, Professor of Finance at Maastricht University, Chair in Institutional Investors, and Director of the European Centre for Sustainable Finance (ECCE). With extensive experience researching and advising pension funds and institutional investors, Rob brings an evidence-based perspective on how sustainability and climate risk are actually understood — and acted upon — in investment decision-making. Drawing on new empirical research, Rob cuts through assumptions about investor behaviour to explore what pension fund members want, how professional investors think about climate risk, and when shareholder engagement really delivers value. He also reflects on the commercial and structural barriers that continue to limit investor collaboration. Hear Rob talk about: * what pension fund members expect when it comes to sustainability * what research shows about investor beliefs on climate change * the evidence on investor engagement and its impact * why collaboration among investors remains so difficult Beyond markets and models, Rob shares his interests in history, politics and music — including the tracks that make up his Transition Tapes playlist, spanning new wave, post-punk and indie. Don’t miss Rob’s recommended reads, podcasts, series and his favourite tunes: 🎵 Playlist: * ⁠Spotify Playlist [https://open.spotify.com/playlist/0RpztTe7D5DmRjbarWTYaq?si=xB2cnN4-SvK-nEOQDxyclA] * Apple Playlist [https://music.apple.com/gb/playlist/rob-bauer-the-transition-tapes/pl.u-06oxD4bsXK1beR] 📚 Books: * Hilary Mantel - Wolf Hall * Peter Buwalda - Bonita Avenue  * Donna Tartt - Secret History * Jan van Aken - De Ommegang 🎙️ Podcasts: * De stemming [https://open.spotify.com/show/0VAAUXRAYzsCVCa89eSdO6] (Dutch politics) * Heavyweight [https://open.spotify.com/show/5c26B28vZMN8PG0Nppmn5G]: Great and fun podcast about life (by Jonathan Goldstein) 📺 Series/movies: * Game of Thrones * The Leftovers * One battle after another