On 30 January 2025, leaders from more than 100 public and private organizations came together to discuss the state of sustainable finance and to explore ways to accelerate progress together amid global turmoil and (political) pushback. A full day of learning, exchanging insights, and building relationships with key players driving the future of sustainable finance.
The central theme of the event was: Bankers, Insurers and Asset Managers: what does your C-level actually do to transition to an ESG world? Against the backdrop of geopolitical shifts and increasing urgency in climate action, discussions focused on the role of financial institutions in driving real sustainability transitions. Participants debated the fundamental question: Is the financial sector truly enabling ESG transformation, or are we still stuck in compliance mode?
This document summarizes the interviews, panels and speeches at the event. It is not a transcript of what was said but provides a paraphrased synopsis of the key points made. It has been prepared and published by Leaders in Finance.
Key takeaways
- From Strategy to Action – Financial institutions must move beyond regulatory compliance and focus on real impact. Sandra Phlippen (Chief Economist, ABN AMRO) emphasized: “We don’t need more reports—we need results.” Despite sustainability being central to financial strategies, execution remains too slow.
- Sustainability Metrics Need an Overhaul – Several speakers agreed that traditional financial metrics fail to capture ESG impact effectively. New measurement frameworks are essential to drive real change. “Our annual report is 120 pages long, but who reads it?” – Jos Baeten (CEO, a.s.r.) highlighted the need for concise, action-oriented ESG reporting.
- Over-Regulation vs. Innovation – Europe’s financial sector struggles with excessive regulation, which could stifle sustainable innovation. Karin van Baardwijk (CEO, Robeco) noted: “America innovates, China copies, and Europe regulates. That’s the challenge we’re facing in finance.” Striking the right balance between regulation and innovation is key to advancing sustainable finance.
- ESG: Genuine Commitment or Just Marketing? – Annette Mosman (CEO, APG) questioned the sincerity of asset managers: “If they truly cared, they’d stop prioritizing short-term returns.” The panel called for a shift from greenwashing to meaningful ESG integration.
- The Financial Sector Must Lead – With political uncertainty slowing progress, financial institutions must take the initiative. Sharon van Herel (CEO, Klaverblad Verzekeringen) criticized governmental bureaucracy: “We had a plan ready, but the government called it ‘too complex.’” Financial leaders cannot wait for political action—they must take the initiative.
Welcome – Twan Huys
Moderator Twan Huys set the stage by addressing the global challenges facing sustainable finance. He raised critical questions about the role of leadership in sustainability and how financial institutions must take action rather than merely comply with regulations. He acknowledged the geopolitical shifts affecting sustainability, including the return of Donald Trump to the Oval Office and Ursula von der Leyen’s continued push for the Green Deal. Huys emphasized that sustainable finance must be embedded in corporate leadership, not just in compliance departments.
He also reflected on the significant progress made over the past decade, noting that while financial institutions are now required to disclose ESG performance, the real test lies in turning these commitments into measurable impact. He challenged attendees to consider whether they were truly leading sustainability efforts or merely reacting to external pressures. His closing remarks encouraged executives to take bold steps in ESG transformation, ensuring that their institutions are not just regulatory followers but proactive leaders in sustainable finance.
Word of Welcome – Eelco Dubbeling (General Manager, Dutch Banking Association)
Eelco Dubbeling delivered a powerful message on the financial sector’s obligation to drive sustainability. He called for greater collaboration between banks, insurers, and asset managers, stating: “We can’t afford to wait for the perfect regulatory environment—we must act now.” He reflected on leadership’s role in transitioning to sustainable finance and highlighted initiatives where financial institutions are already making a difference.
Dubbeling acknowledged the challenges in aligning financial stability with sustainability goals but emphasized that doing so was crucial for long-term economic resilience. He spoke about the importance of cross-sector collaboration and the need for financial leaders to work closely with policymakers to create practical solutions. He also referenced best practices from global markets, drawing lessons from both the EU and emerging economies where financial institutions are testing innovative ESG models.
In addition, Dubbeling discussed the importance of personal leadership in sustainability. He shared insights from his experience leading nature-based leadership retreats, where executives reconnect with fundamental values and use those insights to drive sustainability efforts within their organizations. He concluded with a call to action, urging financial leaders to move beyond traditional risk assessments and integrate sustainability as a core strategic priority rather than a secondary obligation.
Interview I – Sandra Phlippen (Chief Economist, ABN AMRO)
Sandra Phlippen outlined the urgent need for financial institutions to step up and lead in sustainable finance. “Europe is on this trajectory and it will stay on it,” she asserted, reinforcing that financial institutions must continue decarbonization efforts despite political changes.
Phlippen argued that while regulatory frameworks such as the EU Taxonomy provide a useful guide, they should not be seen as the final goal. Instead, she encouraged institutions to innovate beyond regulatory requirements, developing financial products and investment strategies that actively contribute to sustainable transitions. She pointed out that banks and asset managers have a unique ability to steer capital flows in the right direction, urging leaders to take advantage of this influence.
She also addressed the difficulty of aligning ESG goals with business incentives but argued that failing to act will be costlier in the long run. Phlippen warned against ESG becoming a bureaucratic exercise rather than a driver of tangible change. “The moment we let ESG turn into another compliance checklist, we lose sight of its real purpose,” she cautioned. She provided case studies demonstrating how forward-thinking banks and asset managers are integrating sustainability into their business models beyond mere compliance.
Phlippen concluded with a strong message: “The next five years will define whether financial institutions become the heroes of sustainable transformation or the scapegoats of inaction.” She urged attendees to ensure that sustainability commitments translate into measurable action, calling for greater transparency, accountability, and leadership in driving meaningful change.
C-Level Panel I
Karin van Baardwijk (CEO, Robeco), Sharon van Herel (CEO, Klaverblad Verzekeringen), Maureen Schlejen-Peeters (CEO, Achmea Investment Management), Aniek Moonen (a.o. Co-Host BNR Duurzaam, former Chair Dutch Climate Movement)
The first C-Level panel of the day brought together influential executives to discuss the structural barriers and opportunities in advancing sustainable finance. Karin van Baardwijk highlighted that financial institutions must take bold action rather than hide behind regulatory constraints: “We must move beyond compliance checklists and embed sustainability in every financial decision.” She expressed concern that excessive regulation might stifle the ability of firms to innovate and take proactive steps toward ESG goals.
Sharon van Herel shared frustrations regarding governmental inefficiencies slowing down progress. “We had a well-thought-out sustainability plan ready to implement, but government agencies deemed it ‘too complex.’ If financial institutions are ready to act, why isn’t policy catching up?” This sentiment was echoed by Maureen Schlejen-Peeters, who stressed that while regulatory frameworks provide necessary guidelines, it is up to corporate leadership to push beyond minimum standards.
Aniek Moonen challenged financial leaders to take ownership of sustainability goals rather than delegating them to compliance departments: “Sustainability leadership is not a side project. It must be central to business strategy, driven by top executives rather than outsourced to ESG teams.” She also called for improved cross-sector collaboration, emphasizing that no single institution can drive change alone.
The panel concluded with a consensus: financial institutions must shift from a reactive to a proactive stance, actively driving sustainability beyond what regulations demand. “We cannot afford to wait for policymakers or perfect conditions—real leadership means acting now,” Van Baardwijk urged.
Interview II – Faiza Oulahsen (Associate Director Sustainability, KPMG, former Greenpeace)
Faiza Oulahsen provided a thought-provoking perspective, bridging the worlds of activism and corporate responsibility. She shared insights from her experiences in both Greenpeace and KPMG, emphasizing the need for corporate courage in tackling climate challenges. “Sustainability isn’t a luxury—it’s a necessity. Companies must lead the way, even when regulatory landscapes remain uncertain.”
She underscored that while ESG reporting has become widespread, it does not always translate into meaningful change. “We see glossy sustainability reports, but are they driving real-world impact? That’s the question we must ask.” Oulahsen called on financial institutions to ensure their ESG efforts move beyond marketing rhetoric and create tangible benefits for both people and the planet.
She also touched on the psychological challenges of climate action, drawing from her time in a Russian prison following a Greenpeace protest. “When facing overwhelming challenges, resilience and hope are crucial. That applies to both activism and corporate sustainability. We need to stay committed, even when progress feels slow.”
C-Level Panel II
Jeroen Rijpkema (CEO, Triodos Bank), Annette Mosman (CEO, APG), Menno Kooistra (Partner & Head of ESG FS, KPMG), Hannah Prins (a.o. Columnist Vrij Nederland, former Extinction Rebellion).
This session explored the delicate balance between profitability and long-term sustainability. Jeroen Rijpkema opened the discussion by stating: “Short-term financial gains cannot come at the cost of long-term sustainability. We must redefine success beyond quarterly earnings.” He called for systemic changes in how financial institutions assess risk and opportunity in the context of ESG.
Annette Mosman criticized asset managers who continue to prioritize short-term returns despite ESG commitments: “If financial institutions were truly committed to sustainability, they would fundamentally shift their investment strategies.” She urged firms to align executive compensation structures with ESG performance to drive accountability.
Menno Kooistra highlighted the challenge of measuring ESG impact, arguing that standardization in sustainability metrics is essential to combat greenwashing: “Without robust, comparable data, how can investors differentiate between real commitment and superficial efforts?” Hannah Prins echoed this concern, warning that a failure to deliver measurable ESG impact could erode public trust in financial institutions.
The panel concluded that while financial institutions face significant obstacles in balancing profit and sustainability, leadership commitment and innovative frameworks can bridge this gap. As Rijpkema summarized: “We must move beyond ESG as a regulatory requirement and see it as an economic opportunity that benefits all stakeholders.”
Interview III – Jos Baeten (CEO, a.s.r.)
Jos Baeten delivered a compelling argument on the role of insurers in driving sustainability. He emphasized that insurance companies are in a unique position to accelerate the transition due to their direct influence over risk assessment and investment strategies. “As insurers, we can’t just follow trends; we must set them. We have the power to direct investments toward sustainable projects and withdraw from those that fail to align with ESG goals,” he stated.
Baeten was particularly vocal about insurers needing to take a firm stance when it comes to non-compliant businesses. “If there’s no progress in three years, we’re out. We need to hold companies accountable for their ESG commitments,” he asserted, reinforcing that financial institutions must be uncompromising in their sustainability requirements.
He also addressed the practical challenges of integrating sustainability into insurance models, highlighting the need for better risk assessment tools that incorporate climate-related financial risks. He stressed that while regulation provides guidelines, it is ultimately up to corporate leadership to ensure meaningful progress. His closing remarks called for stronger industry-wide commitments to sustainable finance, advocating for a collective shift towards long-term resilience rather than short-term profitability.
Interview IV – Wim Mijs (CEO, European Banking Federation)
Wim Mijs addressed European competitiveness in the global sustainability landscape. He warned that while Europe leads in regulatory efforts, there is a growing risk of falling behind in financial innovation due to stringent compliance measures. “To stop Euroscepticism, we must show that sustainability is not a burden but a driver of economic growth,” he stated.
Mijs spoke about the potential consequences of over-regulation, pointing out that Europe’s strict ESG frameworks could inadvertently push businesses to relocate to regions with fewer restrictions. “We need a balance—ambitious regulation, yes, but also room for entrepreneurial spirit,” he explained. He suggested that financial institutions must work closely with regulators to ensure policies encourage innovation rather than stifle it.
He also underscored the necessity of aligning sustainability goals with competitiveness strategies, arguing that Europe must leverage its financial sector to set global standards rather than merely complying with them. “If we get this right, we won’t just be following regulations—we’ll be writing them for the rest of the world,” he concluded.
Keynote & Q&A – Kadir van Lohuizen (Award-winning photographer, NOOR Images)
Renowned photojournalist Kadir van Lohuizen delivered a powerful keynote, using his work to highlight the real-world impact of climate change. His images of communities displaced by rising sea levels and environmental degradation provided a stark reminder of the urgency of sustainable finance.
He urged financial leaders to connect their decision-making with tangible outcomes, stating: “This isn’t just about corporate strategies. It’s about people losing their homes, their way of life, their futures. Every financial decision has a human cost.”
Van Lohuizen challenged attendees to use their positions to drive positive change, emphasizing the importance of responsible investing. “Finance isn’t just about numbers; it’s about shaping the future. You have the power—use it wisely,” he concluded.
Networking Drinks & Closing Remarks
The event concluded with networking drinks, where attendees reflected on the discussions and explored potential collaborations. Conversations focused on the challenges and opportunities presented throughout the day, with many participants emphasizing the need for stronger cross-industry cooperation to achieve sustainability goals.
Final remarks reinforced a central theme of the event: sustainability must be a leadership-driven priority, not just a compliance requirement. Participants left with a renewed commitment to pushing ESG transformation beyond regulatory mandates and ensuring financial institutions take an active role in shaping a sustainable future.
Join our waiting list for next year’s event
Looking to be part of next year’s event? Then mark your calendar for the Leaders in Sustainable Finance Event 2026 on 29 January 2026. Join our waiting list to stay informed—we’ll only reach out twice a year with key updates. Any questions? We would love to hear from you [email protected].