James Lockhart Smith on Meeting Real-World Sustainability Challenges

An Essential Piece of the Jigsaw Puzzle

James outlines what he believes his field will look like in five years and how his team has made a difference for customers, communities, and society.

My Role

Responsible for Verisk Maplecroft’s financial sector business since 2015
Lead our Markets team in developing and delivering applied research and data products to clients
Work with colleagues to help asset managers and financial sector clients incorporate environmental, social, and governance (ESG) and climate/political risks and opportunities into investments and operations

How My Team Makes a Difference to Customers, Communities, and Society

Support investors, businesses, and other capital markets participants in identifying and managing supposedly “non-financial” climate, ESG, and other risks
Exert positive influence on the behavior of these organizations as they seek to:
- Respond to climate change
- Reduce their social and environmental harms
- Support economic development sustainability in emerging and frontier markets
Solve real-world problems for clients; moving the needle on impact is the most rewarding part of my job

Why Verisk

Joined when Verisk acquired Maplecroft in 2014
Inspired to stay because of company culture and the chance to work with incredible colleagues
Build solutions that play a unique role in solving some of the world’s most urgent challenges
We represent one small part of the jigsaw puzzle, but are an essential piece nonetheless

A Typical Day

Handle a blizzard of meetings and urgent incoming requests from clients or colleagues
Block out as much time as I can for the most important projects
Advise on ESG integration into investment processes
Meet current and future clients
Build proofs of concept for a new product or analyzing data
Support my colleagues as they do any of those things

My Growth Over Time

Teens
Had a fixed mindset and a lot of intellectual conceit and, despite that, enough insecurity and ignorance to fill a leaky bathtub
Twenties
Picked myself up after failure and adopted a growth mindset
Thirties
Thrived professionally for the first time
Forties
More conscious than ever of the need to focus on what’s most important and make sure we get it done

ESG and Sustainability Risk Analytics Five Years from Now

More use of AI and Internet of Things (IoT) capabilities to generate timely, robust signals
More standardization of corporate disclosure
More regulation, which could be good or bad
Moving from crude entity-level metrics to data that makes sense of the impacts and dependencies of a company on economies, societies, and the environment across all its operating locations
Stronger scientific foundations for ESG and climate risk analysis as researchers build on early industry and academic efforts
Finding the right balance between transparency and standardization vs. the ability of data-analytics firms to innovate and protect their IP

My Career Advice

Become genuinely fascinated by your sub-field; that’s the easiest way to acquire expertise
Roll up your sleeves and look for opportunities to work on projects that help develop your skills
If, like me, you didn’t come into the field via a STEM education, catch up on numeracy, particularly the basics of probability and statistics, using online learning resources
No matter how non-technical your role may seem, you have to understand and be comfortable with the powers and limitations of data analysis
Learn to communicate complex ideas clearly in speech and writing by finding opportunities to write and/or present; this will also demonstrate your abilities to potential employers
Act with humility and respect towards your colleagues because an organization is a collaborative enterprise

Connect with James on LinkedIn

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