Rewiring Finance for a better future with Sarah Kemmitt, Nina Seega and Jose Vinals

In this episode, Lindsay Hooper and Marc Kahn examine a critical question: what will it take to align global capital with a cleaner, fairer, more resilient global economy?

At a time when sustainable finance momentum has slowed, the discussion looks beyond the ESG “hype cycle”, to the underlying barriers to progress – and the priorities for action now. The guests analyse why finance has struggled to back real-world transition at scale, and outline the shifts needed to connect capital to what should be a huge financing opportunity.

From addressing the mispricing of climate and nature risk, to correcting market distortions, tackling permitting bottlenecks and supporting coherent policy, the conversation highlights the enabling conditions for capital to flow. The guests share deep, practical insights from the frontlines of banking, regulation and global development.

Hosts Lindsay Hooper (CISL) and Marc Kahn (Investec) are joined by:
• José Viñals, former Group Chairman, Standard Chartered
• Dr Nina Seega, Director, CISL Centre for Sustainable Finance
• Sarah Kemmitt, former lead of the UN Net Zero Banking Alliance
In partnership with the University of Cambridge Institute for Sustainability Leadership (CISL) and Investec.

Key Takeaways
1. Leadership must focus on system design, not just pledges. Good intentions do not mobilise capital; rules, incentives and market structure do.
2. Finance has become too focused on what to stop, rather than what to build: The biggest opportunities lie in infrastructure, resilience and emerging markets, but outdated financial architecture blocks capital from reaching them.
3. Leaders must drive a shift from short-term, narrow financial modeling to real-world, system-level risk assessment: This means pricing in physical, transition, and social risks—and recognizing that the cost of inaction is far higher than the cost of action.
4. Unlocking accelerated transition requires modernising financial models, standardising transactions and removing structural barriers—supported by clear national policies and stable incentive frameworks.

Quotes
“The opportunity is huge, but unless we redesign the system so the incentives point in the right direction, the capital will never flow at scale.” José Viñals

“If we don’t price climate and nature into our core models, we’re building the entire financial system on a version of reality that no longer exists.” Dr Nina Seega

“We don’t need to cling to the language of net zero — what matters is moving the transition forward in ways that are fair, science-based and achievable.” Sarah Kemmitt

Credits
Presented by:
• Lindsay Hooper, Chief Executive, CISL
• Marc Kahn, Chief Strategy & Sustainability Officer, Investec
Produced by: Carl Homer (Cambridge TV) & Alexa Sellwood
Executive Producer: Gillian Secrett
In partnership with: Investec

Listen and Subscribe:
Available on all major podcast platforms or visit the Leadership Hub on the CISL website or Investec Focus for more episodes and insights.

Disclaimer:
The views in this podcast are those of the contributors, and don’t necessarily represent those of CISL, the University of Cambridge, or Investec, and should not be taken as advice or a recommendation.