NYAIR Episode 44
Sustainability Investing in the Pandemic Era –Capital Allocation Issues
In this forward-looking NY-AIR episode, sustainability pioneer Erika Karp and accounting & risk expert Michael Kraten, PhD, dissect the short and long-term implications of global pandemic risk, capital allocation, and ESG. Moderated by Alessandra Tocco, the discussion explores how the crisis accelerates longstanding trends in sustainability, business resilience, and the role of corporate leadership in driving meaningful change for investors and society.
Featured Guests
Erika Karp
Founder & CEO, Cornerstone Capital Group
Erika Karp is recognized as a global leader in sustainable and impact investing, blending rigorous research, systems thinking, and ESG integration to transform capital flows for a regenerative global economy. As Cornerstone’s founder, she brings decades of Wall Street and policy experience, is a founding board member of the Sustainability Accounting Standards Board (SASB), and is an influential voice on the analytics and pragmatics behind ESG adoption. Erika’s frameworks are influencing the future of integrated investment performance and real-world impact.
Michael Kraten
Professor of Accounting, Houston Baptist University
Dr. Michael Kraten is widely known for his expertise at the intersection of business opportunities, risk analysis, and complex system change. With deep experience in academic leadership and consulting, he helps bridge the gap between risk analytics, capital markets, and the evolving landscape of global sustainability—empowering students and organizations with actionable insights grounded in uncertainty management.
Key Insights From This Episode
Pandemic Risk, Systemic Trends, & Signal vs. Noise
Events once considered “black swans”—pandemics, climate-related volatility—are now the norm. Markets remain volatile, with more noise and less signal than traditional models can handle.
Acceleration of Existing Trends
Organizations already embracing digital, online learning, or remote work pre-pandemic widened their competitive gap. Adaptation determines resilience and future success.
ESG: From ‘Nice to Have’ to Fiduciary Imperative
ESG is evolving rapidly from “good intentions” to “must-have” analytics for risk-adjusted returns and regulatory compliance. Improved data quality and consistency remain crucial.
Inclusion, Social Justice & Structural Change
The pandemic spotlights entrenched social, racial, and economic inequalities—but also accelerates organizational and systemic transformation toward anti-racist, multicultural, and stakeholder-centered missions.
Circular Economy, Water, & Broad-Based Innovation
Future-facing investing includes not only climate tech but water, infrastructure, circular economy models, and women’s empowerment—areas where impact, resilience, and commercial opportunity converge.
Access the Full Conversation
Get the complete episode and a downloadable insights deck: actionable frameworks on resilience, capital allocation, ESG data, and stakeholder accountability—essential for investors, consultants, and executives strengthening portfolios and strategies for a turbulent decade.
Soundbites Worth Saving
“A pandemic drives health, economic, social, and confidence crises all at once… the lessons for investing are systemic, not episodic.”
— Erika Karp
“ESG analysis is not a style—it’s a discipline. It’s about finding predictive insight and reducing risk, not ideology.”
— Erika Karp
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