What does responsible investment mean in 2025?

With big asset managers rushing to exit climate initiatives and ESG opponents taking centre stage in the US, responsible investment is under scrutiny as never before. What does this mean for up-and-coming asset owners with sustainability ambitions? This is a key question for Dan Mikulskis, CIO of People's Partnership, one of the fastest-growing workplace pension providers in the UK. In this episode, he talks to RI editor Lucy Fitzgeorge-Parker about how sustainability fits into the investment strategy of People's Partnership. The discussion explores the evolution of responsible investment over the past 10 years, from a neglected niche to the heady days of 2021, followed by political backlash and a tighter focus on impact and implementation. Key topics include the challenges of devising a responsible investment policy, asset owners' response to ESG rollbacks by asset managers, and the opportunities for pension funds to leverage their influence to drive the sustainability agenda.