S4E16: Beyond ESG: Why We Need Systemic Investing with James Vaccaro
What does it take for finance to support real system change rather than simply fund greener activity at the margins?
In this episode of Sustainability Forward, Wrishi and Carmine speak with James Vaccaro, CEO of RePattern and former Group Director of Strategy at Triodos Bank. James has spent more than 25 years at the intersection of finance, sustainability and systems change, and brings a distinctive perspective on why sustainable finance needs to think beyond products, metrics and isolated interventions.
The conversation explores the difference between ESG, impact investing and systemic investing; why relationships, trust and proximity to the real economy matter; what “regenerative” means in practice; and where voluntary initiatives such as the Principles for Responsible Banking have helped — and where they have fallen short.
This is a thoughtful discussion for business leaders, investors and sustainability professionals trying to understand how finance can play a more meaningful role in long-term transformation.
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In this episode of Sustainability Forward, we sit down with James Vaccaro, a leading voice in systems innovation and regenerative business. James shares his 25-year journey from shaping strategy at Triodos Bank to helping design the UN Principles for Responsible Banking. We dive deep into why current ESG and impact investing models fall short, the vital difference between sustainable and regenerative finance, and why the financial system must reconnect with the real world to drive true change.
What You’ll Discover
- Moving Beyond the Spreadsheet: Why the modern financial system has become dangerously separated from the real world, and how returning to relationship-based trust can unlock true impact.
- The Rise of Systemic Investing: How shifting from isolated "green" projects to funding entire system transformations can push us past positive tipping points.
- Regenerative vs. Sustainable Finance: Why simply "doing no harm" is no longer enough, and what it actually looks like to build an economy that restores nature and communities.
Building a truly regenerative economy requires more than just ticking boxes on a voluntary framework. It demands a relentless curiosity, multi-stakeholder collaboration, and the courage to ask whether our current models are actually fit for purpose. If you have ever wondered what lies beyond standard ESG metrics, this conversation is for you.
CEO, RePattern
James has spent 25 years working at the intersection of finance, sustainability and systems change — not just talking about it, but helping build some of the most pioneering institutions in the field.
He was Group Director of Strategy at Triodos Bank — Europe's leading sustainable bank — where he helped shape how the institution invested across the continent. He was one of the founding architects of the UN Principles for Responsible Banking, now signed by over 300 banks representing half of global banking assets. He has advised GFANZ — the Glasgow Financial Alliance for Net Zero — and served on the UK Government's Transition Plan Taskforce. Today he runs RePattern, a consultancy focused on systems innovation and regenerative business design, and is a Senior Associate at the Cambridge Institute for Sustainability Leadership. But perhaps what defines him most is a simple and uncomfortable question he keeps asking: it's not enough to add green products at the margin — we need to change the system itself.