Get to know our Venture Partner Emma Lupton

Emma is a purpose-led sustainability and impact investment specialist with over 15 years of experience spanning responsible investment and ESG innovation. She has developed funds across asset classes and engages with stakeholders at all levels globally. A recent alumna of the Oxford Impact Investing Programme, with a passion for driving positive change. Subject matter areas of expertise include water management, ocean health, packaging and pollution, nutrition, biodiversity, impact and the SDGs. 

Tell us a little bit about your background? (How did you start your career?) 

I graduated in 2009 into the financial crisis, so the job market was very different to what had been discussed in university lectures! I was interested in a variety of career options and undertook internships in different industries to explore those ideas – one was in wealth management and I enjoyed the buzz of that. I also saw that whilst the UK was struggling, China was booming, so I joined an international internship program and worked for a Chinese events company in Beijing.

During my undergrad I had sought out environmental modules, which was unusual at the time, and I greatly enjoyed those. When in China I also became increasingly interested in responsible investment – and in using the power of the financial industry for good. Back in London I worked in wealth management and was interested in the new service being offered to clients of applying ‘ethical screening’ to their portfolios, and I worked on that process with clients.

I realised I wanted to further my knowledge on the underlying issues so did a Masters at Imperial College London in Environmental Technology, where I specialised in Water Management – spending quite a bit of time in sewage treatment works! I then worked for a specialist media company on water conferences, creating and running the Corporate Water Stewardship streams.

Whilst studying at Imperial I wrote my thesis on how investors could integrate water into their investment decisions, and why they should. I then implemented that work with a Global Equities team at one of the firms I interviewed. We realised there was a data gap to do this fully, and so I worked for a data provider that collects water data from companies and provides this to investors.

I wanted to then bring this all back to investment, and got my current job in responsible investment where I initially led on water, and sectors this issue is relevant for, such as food and beverage, hotels and leisure, textiles and apparel. This then evolved into also having specialist knowledge on issues such as ocean health, packaging and pollution, nutrition, the SDGs and impact in general – where I went on to develop products and tools, including a revenue mapping tool at a business segment level, mapping them to individual SDG targets. I now lead the work on impact at CTI across asset classes and Chair the firmwide Impact Working Group, bringing together cross-departmental colleagues to shape and execute our impact strategy.

What has been your greatest success to date?

Developing and launching the CT SDG Engagement Global Equity Fund, alongside my colleagues and a thought leading client. This is a dual mandated fund, aligning financial returns with positive outcomes from engagement that is in line with the SDGs. We have in depth conversations with companies and report on the progress of these. When we launched it, this was only the second fund of its kind, making it a very innovative product that is really interesting to work on.

And your greatest challenge? 

We are operating in a tough macro landscape currently for ESG, and I think we could well see a slowing in progress on climate, water, biodiversity, social issues, the SDG agenda etc – when we need the opposite to be true. I do, however, remain optimistic in the power of long-term responsible and impact investment. The issues we’re addressing haven’t gone away, in fact they are becoming more urgent, and solving them requires long-term thinking, systems change, innovative solutions – and long-term investors willing to weather the storm, in order to create real world positive change.

What led you to work in the impact space? 

I’m interested in the role finance can play in tackling environmental and social challenges, and am passionate about issues such as ocean health, water management and biodiversity. In the impact investing space, you have exposure to companies which are solving a specific issue in a very targeted way, and that is really interesting. As an impact investor you are also investing in a very direct, intentional way, with strong access to management, and so it feels very connected to the positive outcomes the business is creating.

What are you most excited about in the impact space currently?  

I see there being big growth potential in impact investing which is exciting in itself, as ultimately the more capital that is allocated to impact, the more positive impact can be achieved. I also see an interesting opportunity in the diversification of the client base for impact investing, as more HNW individuals, family offices and foundations allocate to impact.

I’m also excited about the types of solutions being put forward to big global challenges – there is a lot of real innovation going on at the moment and that is great to see.

It is also encouraging to see the impact field maturing, with some unified language being used which helps with consistency and comparability. We’re seeing great work around impact measurement, with better data coming through too. There is a lot of momentum behind actively showing the positive outcomes a company is having, and investing intentionally knowing what you want the company to achieve. It is a fast-moving space, and that is exciting to be a part of.

If you were to advise a founder, what are the main things you’d say you are looking for that will catch your attention? 

A clear impact story, an interesting product or service that addresses a demonstrable need, evidence that the offering has provided positive outcomes to users and regularly reported impact metrics detailing these factors. Simultaneously, I want to see a well-managed business with a strong growth profile.

How did you get started with investing? (lessons learnt)  

My stepfather introduced me to the world of investment when I was seven years old. I was particularly fascinated by the relevance of the news on investments and global economies, by how companies function, and how commodity prices fluctuate due to weather conditions, such as droughts and floods.

What’s one piece of advice you would give to your younger self? 

Follow your passions, create a strong network, work hard, keep learning, and do the best you can do. Don’t give energy to the doubters, you’ll prove them wrong, so believe in yourself and your instincts.

What’s the worst piece of advice you have received during your career? 

To not pursue responsible investment as it wouldn’t ever take off…

When you were a child what did you want to be?  

A marine archaeologist, a ballerina, a gardener, a chef, an interior designer, a florist, an astronaut, a spy! So, a somewhat varied mix of things…

As a new VP, what are you most looking forward to in this role? 

I am really looking forward to being involved with Conduit Connect as a new Venture Partner. I am particularly going to enjoy having increased exposure to a variety of inspiring companies driving positive, real-world change. Also, in learning from the innovative solutions being proposed to serious issues and in being able to provide guidance to the businesses to help them create the most impact they can have.