In this crossover episode of The Future of Finance and Beyond Carbon, hosts Georges Dyer and Chris Ito sit down with Lane Jost, Head of Sustainability & Governance Advisory at Edelman Smithfield, for a candid conversation about the evolving ESG and sustainable investing landscape. Lane traces the arc of ESG from its “1.0” early days to today’s politically charged environment, unpacking the dynamics of greenwashing, greenhushing, regulatory risk, and the often-confusing language that shapes public perception.

They examine what this moment means for endowments, asset managers, and campus stakeholders, and discuss Edelman Smithfield’s work with endowments on strategic communications strategies.

Ultimately, the episode balances realism about political headwinds with optimism about market innovation, improved governance, and the long-term trajectory toward resilience and value creation.

Lane Jost – Head of Sustainability & Governance Advisory at Edelman Smithfield

Lane Jost leads the Sustainability & Governance Advisory Practice at Edelman Smithfield, bringing 16 years of sustainability leadership across facilities management, financial services, and consulting. Previously, he served on PwC’s national Responsible Business Leadership team, contributing to the firm’s global net zero strategy. Lane has held senior ESG roles at Santander US and Sodexo USA, developing sustainability strategies and managing significant grant portfolios. He holds degrees from UC San Diego and Kenyon College.

• Green Hushing May Actually Be Beneficial - The pullback from aggressive ESG marketing forces organizations to focus on substance over rhetoric, emphasizing rigorous processes and how ESG factors genuinely drive value and risk management.
• ESG Terminology Will Evolve, But Core Principles Remain - While "ESG" may fade within 3-5 years, evaluating material environmental, social, and governance factors remains fundamental to investment decisions regardless of political climate or terminology changes.
• Communications Must Align With Portfolio Management Reality - Strategic communications should be conservative, transparent, and grounded in fiduciary stewardship. Avoid making unvalidated claims, particularly given emerging regulatory risks around greenwashing in multiple jurisdictions.
• Context Matters: One Size Doesn't Fit All - Appropriate approaches vary by institution. Small liberal arts colleges have more latitude for impact investing, while large state universities face greater scrutiny. Mission and stakeholder context determine strategy.
• Educational Institutions Have Unique Teaching Opportunities - Universities should engage students in real-world discussions about balancing financial constraints, stakeholder pressures, climate risks, and portfolio construction—providing invaluable practical experience beyond traditional classroom learning.