S3 - E7: What can Investors do about Climate Change? With Tom Gosling.

In this episode of Innovations in Sustainable Finance, I welcome back Tom Gosling to discuss the question: what can investors actually do about climate change? The conversation centers on Tom's new report, which explores how the investor role is changing as the climate conversation moves from ambition and headlines to realism, constraints, and policy.My three key takeawaysThe environment has changed, and investors are now caught between doing too much and doing too little Tom explains that the surrounding climate context has become more constrained. Climate is now competing with other major priorities, and investors face criticism from both sides: some say they are overreaching, while others say they are not doing enough.Investors must recognize that they cannot do it alone A central argument in the report is that investors cannot drive decarbonization by themselves. Policy and technology are the main forces shaping the transition, which means investors need to be more modest about what they can promise. That also means backing away from overly rigid temperature targets and instead using more directional, credible goals that reflect their real influence and fiduciary duties.Limitations-aware engagement and policy engagement are promising tools The episode makes a strong case for limitations-aware engagement: investors should focus on actions that boards can reasonably take and that are aligned with commercial realities. Tom also argues that policy engagement deserves more attention, especially where investors have a legitimate stake in real-economy transition policy. Together, these tools offer a more practical way for investors to support climate progress without overclaiming their impact.Final thought I close by asking Tom which climate leadership quality matters most from his list: courage, honesty, curiosity, or commitment. Tom chooses commitment, and that feels like the thread running through the whole episode. In a world of shifting attention and shorter cycles, climate action may matter less as a grand gesture and more as a discipline of showing up consistently over time. Spotify: Innovations in Sustainable FinanceApple Podcasts: Innovations in Sustainable FinanceWebsite: Podcast Innovations in Sustainable Finance | unisg.ch