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This week we speak to Victoria Sant, investment committee member at the National Trust.

We discuss

• The need to know what you own
• Putting investment beliefs and charitable missions into practice
• Mixing emotive issues with risk and return
• Getting deep alignment with the managers of your assets
• Some of the challenges Victoria’s seen over time
• Tips for making effective decisions: who owns what?
• The sea change in focus on ESG and stewardship
• Stewardship as a competitive asset management advantage
• Bigger focus on targeted impact outcomes, aligning to SDGs and looking in more detail at real assets
• Role of private vs public markets for primary market impact
• The existence of many different initiatives and organisations – which one should you support?

Relevant links referenced in the conversation

• Notes on the National Trust’s mission
• The UN Sustainable Development Goals
• The Transition Pathway initiative
• Science Based Targets Initiative
• Climate Action 100+

What’s one thing you would like listeners to take away from this?

Recognising the power that investing in the financial markets has to influence change, as a client. As a shareholder you have the power to influence change in the direction of your values. This can shift away from shareholder primacy toward a more long-term sustainable shareholder model.

The most underappreciated thing in investing

The flexibility that endowments have, the ability to take bold decisions as well as the ability to take more and different types of risk.

Recommendations

• Talking Responsibly Podcast – (and our episode we did with David Hickey)
• The Authority Gap
• Mary’s recommendation: Desert Island Discs with Hilary McGrady (Director General of the National Trust)

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Each LCP investment uncut podcast is for information and marketing purposes only and does not constitute any form of investment or financial advice or a financial promotion (under the Financial Services and Markets Act 2000). All views expressed by the podcast hosts and guests are purely their own opinions and do not represent those of LCP, its clients or affiliates. Our podcast listeners should always seek independent financial or legal advice before making any financial or investment decisions. Please refer to the Legal Notices section on the LCP website for further information.​