How Institutions Can Embed Climate and Sustainability Considerations into Capital Flows and Financial Market Development

Before entering graduate school to study Sustainability Management, I spent nearly a decade working in pharmaceutical advertising and marketing, where I focused on understanding how patients and healthcare professionals make decisions, and how to communicate with them effectively. As a brand strategist, I dug into the motivations, barriers, and emotional needs that shape decision-making in healthcare. A key aspect of my job was to deeply understand my customers and be their voice. I enjoyed uncovering: What do people value? What do they fear? What messages resonate?

By
Sushmita
October 15, 2025

Before entering graduate school to study Sustainability Management, I spent nearly a decade working in pharmaceutical advertising and marketing, where I focused on understanding how patients and healthcare professionals make decisions, and how to communicate with them effectively. As a brand strategist, I dug into the motivations, barriers, and emotional needs that shape decision-making in healthcare. A key aspect of my job was to deeply understand my customers and be their voice. I enjoyed uncovering: What do people value? What do they fear? What messages resonate? While the industry and audience were different, that practice of gleaning and translating insights is something I’ve carried with me into this Master's program and into SIRI Practicum, where I’m now exploring sustainable finance from the perspective of a financial institution. This is my first direct experience working within the sustainable finance space, and I’m entering it with curiosity and humility. Although I’ve been exposed to a variety of sustainability concepts throughout my time at Columbia, this is my first time engaging with the financial system as a powerful lever for change. 

My project this semester revolves around how institutions can embed climate and sustainability considerations into capital flows and financial market development. It’s a big leap from understanding how to market a drug in a highly competitive market to understanding green taxonomies, but what connects these worlds for me is the underlying drive to better serve people, and in this project’s case, the planet, too. I am particularly excited about this project and client because of the opportunity to learn how public financial institutions navigate sustainability in contexts where data is limited, climate risks are rising, and economic growth remains a top priority. Through this project, I’m hoping to better understand how sustainable finance frameworks are being adapted to local contexts, especially in countries that are not yet major players in global capital markets, yet are especially vulnerable to climate change. I’m also interested in how international best practices, often developed by wealthier countries, can be meaningfully translated into emerging markets. I see this practicum as a chance to build a strong understanding of how institutions are shaping more sustainable and inclusive financial systems. 

My team has been tasked with several components, all of which aim to build a clearer understanding of the sustainable finance ecosystem in an emerging economy. One of the main objectives of our project is to get a sense of where our client currently stands when it comes to sustainable finance. Through this, we will uncover what’s working, what’s missing, and how ready the financial sector is to grow in this space. We’re planning to speak with a range of institutions on the ground to hear directly from them about the challenges they face and where they see opportunity. This part of the project feels most familiar to me. It reminds me of my past work in customer research, where my job was to listen, find the patterns, and help shape strategies that met my customers’ needs. It’s a different kind of audience now, but the listening and synthesizing skills still apply. Additionally, we want to better understand how capital has been flowing into sustainable activities through local financial institutions. The hope is that this can help bring more transparency to what’s already happening and support future planning.  My team and I are also looking at how other financial institutions with similar challenges are approaching sustainable finance, and what lessons might be useful here. It’s been interesting to see how different models and policies can be adapted depending on the context. Another part of the project involves exploring what might help accelerate progress, whether it’s specific financial tools, policy changes, or shifts in market demand. While some of these ideas are already being tested in other parts of the world, we’re trying to think carefully about what could actually work in the setting we’re focused on.

Overall, for me, stepping into this world of sustainable finance, especially within the context of a financial institution, has been both challenging and energizing. I’ve come to realize that sustainable finance isn’t just about green products or climate targets; it involves deep research, intentional design, and long-term thinking to build frameworks that are both ambitious and practical. I’m grateful to be part of a team that is not only collaborative but deeply committed to our project. Our client has also been highly engaged and very supportive of us in exploring creative solutions. I’m equally thankful for the opportunity to support our client in a space that is timely and important. I’m excited to continue learning and to see how this experience shapes my perspective moving forward.