At Davos 2026, Amy O’Brien, Global Head of Responsible Investing at Nuveen, shared reflections on her 30-year journey in the financial sector. In a landscape often clouded by complex acronyms, O’Brien is calling for a move away from jargon toward a pragmatic, data-driven approach to sustainable finance.
The Professionalization of Sustainability
O’Brien noted that “responsible investing” has matured significantly from its early days as a niche, values-only pursuit. Today, it has moved into the realm of core corporate strategy. The goal is no longer just “ethical” alignment but the delivery of long-term economic value.
“We are really moving client conversations well beyond those early days of values only… With the data and the technology revolution that’s happening, we’re able to look at asset classes in new ways provide really important insights for investors.”
One of the most significant shifts O’Brien highlighted is the role of Artificial Intelligence in managing the “unstructured and non-standardized” information that has historically plagued sustainable finance. AI is now the “prime use case” for the investment industry, allowing managers to measure real-world impact and associate it directly with portfolio companies.
However, O’Brien also cautioned that investors are now scrutinizing the impact of AI itself—specifically its high energy consumption and its potential to disrupt the workforce.
Investing in the Transition, Not Just Renewables
Nuveen’s strategy has shifted from simply betting on “pure-play renewables” to a more holistic view of the Energy Transition. This includes:
- “Brown to Green”: Helping traditional companies decarbonize their operations.
- Infrastructure: Investing in battery storage and energy-efficient buildings.
- Cross-Asset Strategy: Looking for value across the total fund rather than sporadic allocations.
Combatting the “Image Problem”
O’Brien addressed the political and commercial scrutiny facing asset managers, particularly in the U.S. She was firm in dispelling the myth that responsible investing requires sacrificing financial performance. To combat this, she recently authored A Field Guide to Responsible Investing to provide a clear, commercial narrative for the industry.
“I think we have a little bit of an image problem that we’re not really commercially oriented, that we are actively sacrificing returns for the sake of certain goals, and that is absolutely not the case.”
The Road Ahead: Pragmatism over Ambition
Looking toward the future of 2026 and beyond, O’Brien believes the era of grand, vague ambitions is over. The focus has shifted to transparency, measurement, and reporting.
“Probably ditch the jargon a little bit… We have to start talking a little bit more directly about what are we trying to achieve and how does that really help our portfolios.”