Article One - Why have I chosen to work with stewardship in sustainable finance?

A summary of my journey as ESG Stewardship specialist

Back in 2021 when I made a career transition into sustainable, it didn’t take me long to decide that stewardship in sustainable finance (here defined as “ESG stewardship”) was the topic I wanted to be devoted to the next years of my life. Three major factors played an important role in driving that decision.

First, not only have I worked my entire career in the financial industry (almost 20 years now), but I have carried out different roles in distinct participants of that sector.  As tax consultant in a Big 4, my clients of compliance, audit and consultancy projects were mainly the major financial institutions in Sao Paulo (where I’m so grateful to have started my career). As an investment tax expert in a Swiss and international private equity firm, I delved into worldwide direct and fund-type of equity, debt, real estate, and infrastructure investments. As tax expert and wealth planner of high-net-worth clients in an international private bank still in Switzerland, I had the opportunity to engage and get insights into individuals and families’ needs representing different countries and culture. Overall, that diverse experience – consultancy, banks, private investments, private clients - made me a professional with a strong foundation and understanding of the financial ecosystem and its players, which is extremely useful when operating as a stewardship specialist.

The second factor is represented by my educational background, my willingness to continue learning (learner is my first top natural strengths*) and my mindset. I have a bachelor’s degree in law from a university in Brazil, an LL.M in Tax Law from a university in London, few diplomas in the field of private clients’ wealth planning, which include company law and practice, advising family business and family business and governance. More recently, I took some distinctive studies in the field of sustainability and sustainable finance, such as the CFA Certificate ESG Investing. In terms of mindset, I define myself as a visionary and strategic thinker (strategic and futuristic are among my top 5 natural strengths*), with a business oriented and legal approach. All that combined represent a strong educational background and mindset which are valuable and transferable to the field of stewardship, in different aspects, such as the application of stewardship principles and standards, the review and research of company’s sustainability issues, the monitoring of regulatory development, negotiation skills when engaging with companies and other stakeholders, etc.

The third factor is represented by my driven values (belief is my second top natural strengths*). I believe that the financial sector plays a crucial role for the urgently needed transition towards a more sustainable world, and that active stewardship is a powerful tool to foster that change. From a relationship perspective, I’m committed to build trustful professional relationships, to work collaboratively and to empower people to make things happen. Personally, I care about the world that my daughters’ generation will inherit, and my mission is to live a purposeful life and be an actor of change. All values which I feel very well represented by the role of a stewardship expert.

Those combined factors made me feel comfortable that transferring to ESG Stewardship was a natural and organic move. Motivated by that, in 2021 I jumped into a unique opportunity of assuming the responsibility for the setup of a stewardship team within an asset management company, initially focused on securities but with the goal of further expanding to real estate and infrastructure investments. While I was responsible to build the framework and design the strategy of their stewardship activities, I had the opportunity to be exposed to the full operating engine of stewardship activities within the financial system – and consequently, I also learnt about its major challenges and opportunities, and the roles and interests of diverse internal and external stakeholders. More particular, I understood the importance of a robust stewardship foundation (i.e., a credible framework and well-defined strategy) to drive effective stewardship activities. In parallel, I exercised my leadership skills by establishing a new team and expanding my network in-/outside the company, mainly within the Swiss environment.

My latest assignment was an intense and enriching learning experience. I left with the certainty that I want to continue my journey in the ESG stewardship field, and I defined my next missions as:

(i)             to promote awareness about the importance of ESG Stewardship to drive change, with the vision to unravel the biases, overcame the challenges and simplify the implementation and exercise of ESG Stewardship, and

(ii)            to support investors – asset owners and asset managers – to develop a robust ESG stewardship foundation so they are empowered to make the most of their active ownership and influence, regardless their representative size.  

Motivated by those missions, I recently enhanced my stewardship skills and international network by having attended the first Stewardship and Engagement Leadership Programme developed collaboratively by the Smith School of Enterprise and the Environment - University of Oxford Sustainable Finance Group and ShareAction (learn more about my experience here). The course made me feel even more committed to apply, as a ESG Stewardship Strategic Partner, the practical tools, and insights I learnt in Oxford in relation to effective stewardship.

Following my humble experience and exposure to ESG stewardship, I feel motivated to continue my journey in this field, and I can’t wait to contribute with / learn even more from investors and partner experts in accomplishing those missions.

When I reflect about my move into ESG stewardship in 2021 and my journey since then, I’m certain it was the right decision, and that I’m prepared to continue that voyage.

How about you? What is your reflection about your life’s decisions and your professional journey?

Juliana Barbosa

Switzerland, 03 July 2024

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(*) According to CliftonStrengths test, my top 10 natural strengths are, in this order: learner, belief, strategic, relator, futuristic, ideation, intellectual, developer, responsibility, empathy. If you are curious about Clifton’s test and the Gallup method of evaluating people strengths, have a look here: https://www.gallup.com/home.aspx