Just sat down with the latest episode of The Institutional Edge: Real allocators. Real alpha. — and this one hits right at the crossroads of technology, investing, and sustainability.

Angelo Calvello speaks with me about why AI’s ESG impact is so hard to measure and what investors can realistically do about it. We dig into why conventional ESG metrics don’t capture the full story, the hidden costs of large-scale AI adoption, and a framework that might help asset owners assess AI more clearly.

Some of the highlights:

• The split between AI’s carbon footprint in training vs usage
• Why energy sourcing, water usage, and infrastructure strain can’t be ignored
• How global supply chains and labour dynamics shape the “S” in ESG
• A practical methodology for investors to move beyond surface-level metrics

If you’re in institutional investing or curious about how AI reshapes ESG considerations, this conversation is worth a listen.