In this interview, Noëlla de Bermingham, Chief Sustainability Officer at Andera Partners, challenges the idea that ESG is in decline. Instead, she argues that ESG, as a label, may be fading precisely because sustainability has moved closer to where it belongs: at the core of business strategy, risk management, and value creation.
Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally, managing €4.8 billion across a diversified platform.
Drawing on Andera’s experience across venture, growth, and buyout investments, the conversation explores how LP expectations are evolving, why Article 8 has become the new baseline, and why truly credible Article 9 strategies remain rare. De Birmingham makes a clear case for moving beyond compliance and reporting toward operational transformation—using sustainability data as a strategic asset rather than a box-ticking exercise.
The discussion also addresses physical climate risks, supply chain disruption, and resource constraints as immediate financial issues, not abstract long-term concerns. Ultimately, the interview reframes sustainability not as a moral stance or marketing tool, but as smart, disciplined investing in an increasingly constrained world.
