Sustainable Investing Is Evolving—And Economics, Not Idealism, Drives It
In a recent episode of Dollars & Change: The Experts Guide to Sustainable and Responsible Investing, host Peter Krull was joined by Simon Rebbechi, the Vice President of Sustainable Strategies at Calamos Investments. Together they spoke about where sustainable investing stands today—and where it’s headed.
From Wall Street to Sustainability
Simon’s path into sustainable investing wasn’t linear. After more than two decades in institutional equity sales, his interest in sustainability was sparked almost accidentally, through exposure to early ESG research.
What began as curiosity rapidly turned into conviction. Simon recognized the complexity and rapid evolution in the sustainable investing space and pursued a master’s degree in sustainability management at Columbia University, where he focused on energy systems and the global energy transition.
Energy Transition: Closer Than We Think
One area the conversation focused on is that the energy transition is not some distant ambition; it’s already well underway.
Developments in solar, wind, and especially battery storage are fundamentally shifting the economics of energy production. In many cases, renewable energy paired with storage is now cheaper and faster to deploy than traditional fossil fuel infrastructure.
But perhaps more compelling is what’s happening globally:
- In countries like Pakistan, rooftop solar has rapidly expanded energy capacity in just a few years.
- In Sub-Saharan Africa, the cost of a solar panel and battery system is comparable to a basic smartphone.
This isn’t a theory; it’s real-world adoption driven by affordability and necessity.
Adaptation vs. Mitigation: A Necessary Shift
While climate mitigation remains critical, Simon highlighted a growing shift toward resilience and adaptation.
This is because adaptation delivers: immediate benefits, more predictable outcomes, and greater political and public support
Peter agrees with this move towards adaptation and resilience, as reflected in his new definition of SRI:
Follow the Money
If there’s one unifying message, it’s this: follow the money.
Sustainable investing is gaining traction not because of ideology, but because of economics:
- Corporations are investing in decarbonization to cut costs and boost revenues.
- Asset owners are increasing allocations to infrastructure, impact strategies, and sustainability funds.
- Private markets are seeing measurable financial upside from ESG initiatives.
Even something as straightforward as upgrading HVAC systems or improving building efficiency can produce meaningful returns—often with short payback periods.
To learn more about Simon and the future of sustainable investing, listen to the full episode here.
Check out some of our recent episodes:
- Kristen Oliveri, founder of Wealth Reimagined, speaks on the future of Family Office Investing.
- Mallory McDuff, environmental educator, author, and longtime Warren Wilson College faculty member, discusses the rarely discussed topic of sustainable end-of-life planning.
- Iyassu Essayas, Board Member of US SIF, and the Chief Executive Officer of Inflows, discusses the next generation of ESG.
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Be good. Invest better.
The Earth Equity Team
