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With intellectual discourse as a foundation for enhancing knowledge, the Burridge Center’s Sustainable Finance Discussions held on March 13 provided a lively platform for experts to gather and share insights on the future of ESG.

At a time of uncertainty in the world of environmental, social and governance (ESG) initiatives, the Burridge Center's Sustainable Finance Discussions offered a unique opportunity for thought leaders from academia and industry to delve into the complexities of navigating sustainability in an ever-evolving financial world.

More than 100 attendees explored topics at the intersection of finance, climate and technology under the theme of “ESG: What does the future hold?”

A platform for exchange

Shaun Davies, Faculty Director of the Burridge Center

“Bridging the gap between finance academics and practitioners—theory to practice—creates a powerful exchange: Our finance research faculty gain insight into the real-world challenges facing the finance industry, while practitioners benefit from the cutting-edge research emerging from the Leeds School of Business,” said Shaun Davies, associate professor of Finance at Leeds and the faculty director��of the Burridge Center.

“This collaboration drives innovation and ensures that research and practice evolve hand in hand,” Davies said. Nourishing relationships within the Leeds ecosystem of faculty, alumni, students and business partners promotes a thriving, forward-thinking business community.

Among the attendees was Amanda Krakauer, vice president of the Evergreen Team at Bow River Capital. "I work in the private equity industry and was invited to attend the summit by a colleague and 91��ý alum," Krakauer said.

“The discussions on evolving ESG disclosure requirements highlighted the shifting regulatory landscape, while the deep dive into how investment managers are incorporating ESG principles provided a nuanced perspective on the challenges and opportunities in sustainable investing. The event also provided a valuable opportunity to engage with students, professors and peers on the future of responsible investing,” she noted.

Research insights: Green facts from green fiction

Leeds faculty Asaf Bernstein and Simona Abis shared insights from their leading research and scholarship.

Leeds Finance faculty members (left to right):
Brian Waters, Asaf Bernstein, Andrea Buffa and Simona Abis

Bernstein, an associate professor of Finance and the co-director of the Center for Research on Consumer Financial Decision Making, shared key takeaways from his one-year tenure as a senior academic advisor to the Securities and Exchange Commission. He amused the audience with anecdotes about his career trajectory, which included navigating the subprime mortgage crisis of 2008 and the “flash crash” of 2010. These experiences, he explained, helped shape his ability to assess uncertainty and risk.

While the SEC disclosure rule approved in 2024 currently hangs in the balance, Bernstein reminded attendees that “Blue Sky laws”—state-level securities regulations—existed before the SEC ruling, and they will continue to play a role in ensuring that disclosures are not misleading or false. He further emphasized that “private stakeholder standards and preferences always matter.”

Abis, an assistant professor of Finance, provided a deep dive into ESG classification, revealing gaps between marketing claims and actual fund structures.

She, along with Assistant Professor of Finance Andrea Buffa, analyzed mutual funds using ESG terminology and found that only 20% of them truly qualify as impact funds. Their painstaking, manual review of prospectuses highlighted the��inconsistencies in ESG labeling.

“It is crucial to make these distinctions to understand capital allocation preferences and the real impact ESG investments might have,” she said.

Industry perspective: Risks, rewards and resilience

Following the faculty presentations, , the CFO of Denver Water, brought an industry perspective on the financial risks posed by climate change.

Angela Bricmont, CFO of Denver Water

“Climate risks are absolutely playing out, and those are on top of historic underinvestment in infrastructure,” Bricmont said.��She emphasized that “you can’t build anything if you don’t have water or energy,” cautioning attendees that “… preparing for climate risk in disclosures is absolutely sound business.”

Bricmont’s remarks underscored a key takeaway: The intersection of finance and sustainability requires not only compliance but also strategic adaptation for long-term resilience.

Future implications: the fate of ESG disclosures

As attendees asked questions during the Q&A session, one topic centered on the potential of XBRL (), a framework for creating structured communications. Abis highlighted XBRL’s potential for analyzing massive amounts of data. “When you think about it that way … XBRL is a huge, huge help.”

For Leeds alumnus Harris Cunningham (Fin’24), the managing director of��, the ability to engage in thought-provoking discussion was what made the event especially rewarding. "It was a rare opportunity to learn about and ask questions surrounding ESG/finance research at CU. I loved the diversity of attendees, including lobbying groups, wealth managers, municipal water facilities, angel investors, students, early-stage startups and others. It made for very stimulating conversation during dinner."

Events like the Burridge Center's Sustainable Finance Discussions ensure that academia and industry remain in dialogue—advancing knowledge, fostering collaboration and shaping next-generation leaders. Learn more about programs and events at the Burridge Center for Finance.