For an ESG executive at a major asset manager, keeping track of the updates and intricacies of EU sustainability regulations is a challenge – and ensuring their correct implementation within their own organization is crucial. "I hope that the EU doesn't start a new ESG regulatory package. It's now about completing and implementing the existing initiatives and introducing the regulations. That's enough for the moment", says Matt Christensen, Global Head of Sustainable and Impact Investing at Allianz Global Investors (AGI).

The 54-year-old, with Danish roots, was born in California and moved to Europe over 25 years ago. In the late 1990s, he sought to develop the business of the US financial portal Motley Fool in Germany. However, the dot-com crisis disrupted his plans.

During his work for the investor portal, he realized that companies should not only be evaluated based on financial metrics. This led him to sustainability, and he embarked on a career as an ESG manager. "Twenty years ago, people laughed at ESG investments, and Germans, in particular, were very skeptical. That has changed since then."

ESG and sustainability have become huge topics. Christensen has contributed to this shift. In 2002, the American founded Eurosif, the European Sustainable Investment Forum, an organization promoting ethical investment based in Brussels. Eurosif is funded through contributions, including those from the European Commission.

Transitioning to the finance industry was a logical step for the father of three. He wanted to make a greater impact and saw more leverage within companies than in an association. Since leaving Eurosif, Christensen has been advocating for strategic change in the asset management arms of large European insurers: From 2011 at French Axa IM and since late 2020 at AGI, which is headquartered in Paris. "In my capacity at AGI, the objective is to ensure the effective implementation of ESG and sustainability principles within the organization. Equally important is looking ahead, with impact investing playing an increasingly significant role in shaping the next phase of this agenda."

He already had a broad interest in economics, politics, and society during his education. He studied international political economy at the University of Pennsylvania and economics at the Wharton School.

A major emphasis in his current position revolves around sustainability and private assets. Christensen envisions a promising future in this area, noting that investments in infrastructure for private equity are more precisely targeted and consequently have a greater impact. He anticipates that the standardization and innovation of ESG practices within private markets will also be beneficial for publicly listed asset classes.

Christensen is not as positive when reflecting on his former home. "One of the biggest threats is the headwind sustainability is facing in the US. The influence exerted by American lawyers on asset owners is palpable across the globe. We regard developments in the US with apprehension. There's a looming prospect of substantial regression concerning ESG matters in the US, which might intertwine with populist rhetoric in Europe."