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In 2021, there was roughly $785 billion deployed at the global level for energy transition technologies. And despite questions being asked about ESG strategies, there are still tons of financial firms that are looking to invest in green bonds and other areas of sustainable finance.
Luiza Demôro, the Head of Energy Transitions at BloombergNEF, joins the show to discuss a pair of reports that the team at BNEF recently released. One is their annual Power Transition Trends 2022 report and the other is a special look at the state of clean energy funding in emerging markets and developing economies. Demôro also offers her insights on what to expect from COP27 and how the policies discussed in Egypt can reshape energy markets around the world.
Demôro explains how banks and other private investors have become more willing to deploy capital to emerging markets, but they are looking for certain country-specific and project-specific risk criteria to be met before they go all in.
Demôro also offers her insights on what to expect from COP27 and how the policies discussed in Egypt can reshape energy markets around the world.
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Capital Comes Together To Combat Climate Change
Modern Money SmartPod
10/31/22 • 24 min
Unless you’ve been living under a rock for the last year or so, you’ve probably heard about all the money that’s either already been deployed or is on its way toward funding the energy transition. When there are billions and billions in play, it’s not surprising that groups are coming together to lure capital to not only certain technologies, but also certain geographic regions.
Jane Stricker is the SVP for Energy Transition at the Greater Houston Partnership. She also serves as the Executive Director of the Houston Energy Transition Initiative. Jane and the team at HETI recently released a report from their capital formation working group, which includes some big time banks and investment firms – we’re talking Blackstone, Bank of America, Citigourp, EnCap, JP Morgan and more. The report is all about capital formation and what it will take to turn Houston – yes, Houston, which of course has a long history in oil and gas – into THE destination for climate capital to fund the energy transition.
More resources
HETI's Capital Formation Whitepaper
HETI's Energy Transition Strategy
Learn more about the H2Houston Hub
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Tim McCourt, Senior Managing Director and Global Head of Equity and FX Products at CME Group, joins the show to talk about the launch of Event-based contracts. During the initial meme-stock frenzy, there were plenty of nightmare stories about retail investors getting in over their head with derivatives. Designed especially for retail traders, these new Event-based contracts are an easy-to-understand way for individuals to trade on daily up or down price moves in some of the world's most widely quoted benchmark futures markets, including the E-mini S&P 500, E-mini Nasdaq-100, E-mini Dow Jones Industrial Average, E-mini Russell 2000, crude oil, natural gas, gold, silver, copper and Euro FX.
Amid all the headlines about the Ethereum "Merge," McCourt also shares some of the details about CME Group's extremely well-timed launch of options on Ether futures.
Key highlights
3:00 - What are Event-based contracts?
5:12 - Solving a headline-grabbing problem
6:57 - Which markets do these Event-based contracts cover?
10:34 - A well-timed launch of Ether options
12:23 - The impact of the Ethereum "Merge" on Ether options
More resources
Learn more about Event contracts
Learn more about CME Group's Ether options
Automation positively transforms the lives of people and business.
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Lauren Collins, a partner at Vinson & Elkins, joins the show to explain how the tax incentives in the Inflation Reduction Act stand to not only boost the deployment of renewable energy in the U.S., but also create new tax credit markets that might attract investment funds and retail investors. Collins also highlights one key area of the energy puzzle that the IRA has unfortunately overlooked.
Key Highlights
3:44 - The most important tax aspects of the bill - PTC, ITC, Standalone Storage, Bonus credits
6:00 - The new technology neutral credit regime and leveling the playing field for smaller players
9:09 - Credit flexibility provisions (Direct pay and Transferability)
12:20 - Bonus credits and "Stacking" (Domestic Content, Energy Community and Low-Income)
17:10 - Prevailing wage provisions
19:26 - What about Hydrogen, Nuclear and Carbon Capture Utilization and Storage (CCUS)?
23:38 - Making room for Manufacturing, Minerals and Mining tax credits
26:15 - Which aspects of the IRA are overhyped?
28:21 - A new industry and marketplace for tax credits and tax professionals
29:30 - The 'missing piece' in the legislation
30:27 - Which aspects of the legislation are flying under the radar? Transmission misses out
33:30 - Bold predictions - Credit investment funds enter financial markets ... and so do retail investors!
More resources from Vinson & Elkins
Renewable Reboot: A Download on the Inflation Reduction Act of 2022 – Clean Energy Tax Provisions
Automation positively transforms the lives of people and business.
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Richard Hunt has been the leading voice for consumer banking in the U.S. for 13 years, and his advocacy for the financial services industry began long before that. This week, he will step down from his role as president and CEO of the Consumer Bankers Association, but he is NOT retiring. Richard talks with us about why term limits for politicians -- and trade association heads -- are a good thing, how Washington has changed over the years, and how the smartphone transformed banking.
We also get Richard's thoughts on working with the Consumer Financial Protection Bureau over the years, which was established just a couple years after he took the helm at CBA, and how he has grappled with two financial crises.
Key talking points:
Why it's time for a new voice at CBA (1:18)
How the banking industry has evolved since the global financial crisis (3:13)
How Washington has changed in the last 13 years (4:05)
Differences between the 2008 crisis and the coronavirus crisis (5:09)
How banks bolstered the economy through the pandemic (9:04)
Working with the CFPB (10:41)
How smartphones changed banking forever (14:35)
What's next for Richard (16:52)
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The venture capital sector had two bumper years in a row in 2020 and 2021, with record levels of fundraising, investment and exits. However, like the rest of the investing world, the market has cooled in the 2022 economy. Bobby Franklin, president and CEO of the National Venture Capital Association, talks with us about how the current economic climate is affecting the VC-startup ecosystem, and how startup leaders and investors are looking at their prospects.
Bobby also talks with us about how VCs are approaching their ESG goals, which cities and regions are seeing more VC investment activity, the JOBS Act 4.0 and the push to establish a US startup visa.
Key talking points:
How the market conditions of 2022 have affected venture capital investment activity (0:26)
Where the rising hubs for VC activity are (2:35)
What sectors are likely to show strong growth going forward (4:26)
How startups and VCs are looking at their prospects for going public as the IPO and SPAC markets slow to a crawl (5:58)
Why VCs strongly support the establishment of a US startup visa (8:11)
How the Jobs Act 4.0 would affect the VC sector (11:24)
How VCs are approaching their ESG goals (13:40)
The potential upside of tough times (21:11)
Further listening:
If you'd like to learn more about what policy initiatives are of high importance to the venture capital industry, check out NVCA's Venture Capitol podcast, hosted by Bobby.
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While the comment period for the Securities and Exchange Commission's proposed rule on climate-related disclosure has been extended into June, the proposal offers a solid hint as to how the final rulemaking might take shape. Jamie Gamble, Managing Director at PwC, and Maggie Peloso, Partner at Vinson & Elkins, join the show to dig into the details of the proposed rule and offer tips on what companies should be doing now ... yes, right now ... to prepare for the final rulemaking.
Key Talking Points:
What are the basics of the proposed rule (1:56)
Breaking down Scope 1, Scope 2 and Scope 3 emissions (2:38)
The SEC departs a bit from "materiality" (3:23)
Key nuggets of the proposed rule (4:52)
Important things companies should be doing NOW to prepare (6:20)
The challenge of reporting physical climate risk (8:20)
Data, data and more data (10:11)
The proposal is about more than just greenhouse gas emissions (12:08)
A closer look at Scope 3 (13:29)
The role shareholders might play in shaping the future 'materiality' (20:00)
Will this rule cause companies to shy away from setting Scope 3 goals? (20:48)
Navigating a new form of 'vendor risk' (22:55)
Why planning ahead for this reporting matters (26:09)
Will this rule change the makeup of individual boards? (30:01)
More resources from Vinson & Elkins
Proposed SEC Climate Disclosures: What’s happening and what are the implications for companies?
The SEC’s Climate-Disclosures Proposed Rule – Eight Key Takeaways
More resources from PwC
SEC Climate Risk Disclosures: What it means for companies and what business leaders should do next
The SEC wants me to disclose what? The SEC’s climate disclosure proposal
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Private Capital in Asia's Push for Net-Zero
Modern Money SmartPod
04/12/22 • 48 min
The term "energy transition" means different things to different people. In this episode, we focus on how "energy transition" means different things to people from different places. Michael Syn, senior managing director and head of equities at the Singapore Exchange (SGX), joins the show to talk about how markets in Asia are tackling decarbonization and the push to net-zero.
Often mistaken as just one big market, individual countries and companies across Asia have a very different history with fossil fuels than their counterparts in the US and Europe. Michael breaks down some of the innovative solutions that are in play across Asia and how global initiatives like the Glasgow Financial Alliance for Net Zero (GFANZ) can broaden their perspectives to bring more private capital to the sustainable investing market.
Michael also delves into how SGX helps Singpore lead the way in the push to net-zero by serving as a cutting-edge market for new technologies, financial products, regulatory efforts and education initiatives related to sustainability.
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Voluntary Carbon Markets Are On The Rise
Modern Money SmartPod
03/22/22 • 24 min
As corporations and countries plot their net-zero plans, carbon markets have become one of the most-talked-about components in the realm of sustainable finance. To hear more about this burgeoning corner of the markets, IncubEx Founder, President and COO Dan Scarbrough joins the show to share his insights. Dan outlines the growth carbon markets have enjoyed thus far, explains growing pains that have arisen and shares the details of a platform IncubEx is set to launch -- The Voluntary Climate Marketplace (TVCM) -- that aims to optimize the buying and trading process.
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Early Lessons Learned From The FTX Meltdown
Modern Money SmartPod
11/14/22 • 13 min
With the fallout from the meltdown of Sam Bankman-Fried and his FTX empire still unfolding in the markets, exchange leaders and other executives from the cleared derivatives industry gathered in Chicago for the annual FIA Futures & Options Expo.
FIA President and CEO Walt Lukken joined the show to talk about what the collapse of FTX might mean for the future of regulation in the digital asset sector. Lukken touted the soundness of properly regulated entities (like FTX's own LedgerX) and marked the 50th anniversary of the launch of financial futures by commenting on how he thinks the industry will continue to evolve.
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