Speaking at the Economist-hosted Fifth New York-Eastern Mediterranean Business Summit Greek-American CEO of Calamos Investments John Koudounis, said there is a strong appetite for investment in Environmental and sustainable products, and although the sector has been politicized by far right and far left, the future is bright for investing in sustainability.
Sustainability in Business According to Koudounis
Addressing the importance of environmental, social, and governance (ESG) in future investment opportunities, Koudounis shared that Calamos Investments had partnered with Greek Milwaukee Bucks NBA player Giannis Antetokounmpo, stating “We partnered with Giannis Antetokounmpo because of our shared values. Giannis and I agree that family, community, fair economics, and the environment are key areas in which we can do some good. We look for companies that bring positive sustainable benefits.”
The partnership comes as Calamos Investments announces a new sustainable usage fund available to investors, which, according to Koudounis, is built on the company’s belief that ESG and sustainable business investing has a strong future.
He added “A couple of years ago ESG was the largest sector of growth in all mutual fund businesses, and for the first time last year they saw some offload, which is bound to happen in any market. The important thing is that in the long term, ESG is not going anywhere. Sustainable investment is here to stay. It has been politicized, and there’s been a lot of backlash, but that will pass.”
Koudounis also took the opportunity to talk about greenwashing, saying that businesses need to stick to a system for sustainability, not just undergo random, arbitrary changes and then announce them.
The other panelist in this section of the event was Roger Martella, chief sustainability officer at GE Vernova, an energy equipment manufacturing and services company headquartered in Cambridge, Massachusetts.
He spoke about the demand for renewable energy, claiming that “we will see a doubling in demand for renewable energy in 2040 from 2020, and we need to merge electrification and decarbonization. We innovate technology to both electrify and decarbonize.”
He went on to speak about the future of renewable energy, stating “This decade is a decade of action, we need to grow renewables as soon as possible, including nuclear energy and making the grid more efficient. Now, in our research centers, we are preparing for the next decade. We are innovating renewable technology such as carbon capture and others, which gives us a road map to increase capacity in the future.”
The Eastern Mediterranean is playing a pivotal role with significant investments in energy infrastructure, security, ESG, innovation, real estate, tourism, healthcare, and financial services contributing significantly to the strengthening of investment and trade on both sides of the Atlantic.
As such, the Economist saw fit to center this year’s Economist New York – Eastern Mediterranean Business Summit on “expanding corridors of stability, investment and trade.”
Delighted to see friends from East Med region @emgforg SecGen Mobarez, @cyMECI, @GePapanastasiou, @KostasSkrekas @TheEconomist’s #EconNYSummit. Early adoption of regional interconnections has paved the way for greater energy diversification & security in this key region. pic.twitter.com/C33qq6iUQG
— Assistant Secretary Geoffrey Pyatt (@AsstSecENR) April 26, 2024
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