A Day in the Life of…an ESG advisor

Name: Christina Rehnberg

Company: NorthPeak Advisory

Job Title: Senior Associate

Linked In profile: https://www.linkedin.com/in/christinarehnberg

What does your company do?

NorthPeak Advisory is an ESG advisory firm, working with asset managers, asset owners, and corporates. Predominantly, we work with alternative asset managers (hedge funds, private debt and equity etc.) and help them understand how ESG information can be relevant for their investment strategies and for their corporate strategy. ESG stands for Environmental, Social, and Governance, and can be used in various ways for financial services firms to understand sustainability-related risks, opportunities, and their impact. A lot of the work we do focuses on strategic framework development and capability building through training sessions and workshops.

How long have you worked at your company / how did you get your role?

I have worked at NorthPeak Advisory since November 2020. Before joining NorthPeak, I was Senior Associate at KKS Advisors – another ESG consultancy firm. There, my focus was on ESG-related research and working with different types of clients to solve their sustainability/ESG needs. I worked with foundations and NGOs, as well as corporates and asset managers. I have always had a passion for creating strategies and frameworks to solve specific E and S challenges. For example, trying to create a new framework for removing barriers to equality of opportunity, building internal DEI strategies for firms of different sizes, or understanding how regional context influences the significance of governance factors.

Sustainability considerations have been prominent for long-only funds and corporates for a longer time, so then when Petra (CEO, NorthPeak) reached out and asked if I wanted to join an advisory firm specifically focused on alternative asset managers, I was really excited to help drive these practices forward.

I also studied Economics and did my Masters in Environment and Development at LSE, which included numerous courses on climate change and development issues, so I am really happy that I get to work with something that combines my passion for sustainability with my passion for finance and economics.

What training/qualifications do you need to be an ESG Manager?

The work we do sits at the intersection of finance and sustainability so having an understanding of at least one of them is important. It is still rare to find individuals that have experience in both, but showing a passion and curiosity to learn how these topics interplay is at the core. Other than that, there is no ‘qualification’ per se that is required – the ever-evolving nature of responsible investing requires more of a ‘problem-solver’ attitude, and we emphasize personal fit and alignment of values.

What does a typical day look like for you?

I love the variability of my work. Since we are quite a small team still, my responsibilities span a broad range – mainly leading client engagements and deliverables, conducting workshops, writing thought leadership, and also on the business development side working to innovate new services and speaking with prospective clients. I also work on our recruitment and operational processes. So overall, a typical day will be a mix-and-match of those types of tasks. I normally have a couple of calls, and then the rest is about brainstorming ideas and doing deep work for clients. The great part about such a structure is that you get experience in all parts of the firm, so it is a good place to grow.

What do you enjoy the most in your job?

The fact that no ESG project is the same is exciting – it means that one has to really think about what makes sense for a particular investment strategy/asset class, or at the firm level depending on its size and location. I also get to work with individuals from all parts of the financial services space, whether that is senior executives, investment teams, HR, portfolio managers, ESG teams, investor relations, or compliance – it is exciting to hear the challenges and priorities that all different teams have from an ESG point of view.

What core skills do you need to do your job?

In a small firm like ours, the key really is being a curious and innovative ‘doer’, and a team player with a high level of integrity given how much greenwashing there is in the sustainable finance space. Curiosity is important since ESG practices are evolving on a daily basis. Similarly, being innovative but pragmatic is important for thinking about how practices can me made more meaningful and impactful as well. The communications and team work side of things becomes foundational since at the core of the work is to interact with clients and help them improve and meet their objectives. It helps to have experience in either finance or sustainability since our work combines both.

What advice do you have for young women interested in getting into the industry?

I hope young women feel less pressured to change themselves to fit a particular stereotype in the investment industry these days. It is so important that we have the courage to be ourselves and support each other to grow personally and professionally – this is moving towards working cultures becoming more inclusive and the benefits from diversity actually being realised. I encourage all women to not be afraid to reach out and connect with people in the industry to learn more about what working in this industry is like. There are so many amazing women (and men) in this industry that would love to connect and share experiences, and you always learn something new from each interaction.

For ESG/responsible investment specifically, there is so much going on today that it is good to subscribe to ESG-related news, connecting with people in this space on LinkedIn, joining events etc. If one is driven by a particular impact topic (e.g. climate change) it is good to do look into the various nuances that exist so that you find a place that aligns with your own views and values too.

About Christina Rehnberg

Christina has spent her career at the intersection of finance and sustainability and brings a wealth of experience in Responsible Investment and ESG analysis. At NorthPeak, Christina works across investment strategies and industries, helping clients advance their ESG practices both at the corporate level and in terms of tailored ESG integration frameworks on the investment side.

Christina joined NorthPeak Advisory from KKS Advisors, where she was Senior Associate and worked with corporates on long-term sustainability strategies, and with investors across asset classes on ESG integration in their investment process, policy writing, training, portfolio impact analysis, and specialist research.

Christina’s work on capital market reactions to corporate announcements of long-term strategic plans has been published in the Journal of Applied Corporate Finance and Harvard Business Review. Her latest articles include: · 2021: ESG Review · Diversity, Equity, and Inclusion in the Financial Services Industry · ESG Data: What Fund Managers Need to Know · How to Improve Diversity in Your Hedge Fund?

Christina holds a Masters in Environment and Development from London School of Economics and Political Science, and a Bachelor’s with Honours in Economics from Queen Mary University of London.