2050 Investors — Economic and markets megatrends, ahead of 2050’s global sustainability targets

Private credit has become one of the fastest-growing areas of finance.
But behind the headlines lies a deeper question: what do we gain, and what do we give up, when we exchange liquidity for commitment?
 
In this episode of 2050 Investors, Kokou Agbo-Bloua explores the rise of private credit, the enduring dominance of public markets, and the trade-offs between liquidity and flexibility, transparency and discretion, mark-to-market pricing and long-term conviction.
 
Joining him is Ludovic Subran, Chief Investment Officer and Chief Economist of Allianz, for a wide-ranging conversation on the "conservation of risk" between public and private markets, the nature of the illiquidity premium, and how the coming wave of AI-driven investment could reshape the balance between public and private capital.
 
From Plato's Cave to modern data centres, from The Truman Show to Kierkegaard, the discussion moves beyond finance to examine a more fundamental question: are investors seeing reality, or merely its reflection?
The conclusion is less public versus private than a distinctly Hegelian synthesis: two seemingly opposing worlds that may ultimately prove most powerful when working together.
 
Listen to the episode to explore the forces reshaping tomorrow’s financial landscape.

Credits
Presenter & Writer: Kokou Agbo-Bloua. 
Producers & Editors: Jovaney Ashman, Matthew Johnson, Jennifer Krumm, Elise Bou.
Sound Director: La Vilaine, Pierre-Emmanuel Lurton.
Music: Cézame Music Agency. 
Graphic Design: Studio Societe Generale.

Whilst the following podcast discusses the financial markets, it does not recommend any particular investment decision. If you are unsure of the merits of any investment decision, umannplease seek professional advice. 

Hosted on Ausha. See ausha.co/privacy-policy for more information.

This episode was first aired on 11/10/2024

What kind of risk taker are you? The answer may reveal more than you think.

In this episode of 2050 Investors, Kokou Agbo-Bloua takes a closer look at risk and its role in the financial markets. Kokou explores traditional risk management models such as the Value at Risk, volatility and heteroskedasticity (volatility of volatility) and explores the interplay between Main Street and Wall Street.

Later, Kokou sits down with Hatem Mustapha, Co-Head of Global Markets, to discuss the ins and outs of managing risk. They examine different risk management models, their pros and cons, and the importance of framing the tail risk, the blind spots investors have in managing risk and the world of 'unknown unknowns'.

Credits
Presenter & Writer: Kokou Agbo-Bloua. Producers & Editors: Jovaney Ashman, Jennifer Krumm, Louis Trouslard.
Sound Director: La Vilaine, Pierre-Emmanuel Lurton. Music: Cézame Music Agency. Graphic Design: Cédric Cazaly.
This episode is a reworked replay based on its original version. (link to the original version)

Whilst the following podcast discusses the financial markets, it does not recommend any particular investment decision. If you are unsure of the merits of any investment decision, please seek professional advice. 

Hosted on Ausha. See ausha.co/privacy-policy for more information.

A king looks into a mirror and asks a simple question: "Markets, markets on the wall, who is the safest of them all?"

For centuries, investors have sought refuge in gold, government bonds and cash. Yet history tells a more complicated story. Inflation erodes cash. Rising rates punish bonds. Even gold can fail to protect when investors need it most.
 
In this episode of 2050 Investors, Kokou Agbo-Bloua explores a provocative idea: safety is not something you buy, it is something you build. Drawing on finance, philosophy and economic history, he examines whether safety is an intrinsic property of an asset or the result of diversification, adaptation and sound judgment.
 
To deepen the discussion, Kokou welcomes Vincent Mortier, Deputy CEO of Amundi Asset Management and Group Chief Investment Officer. Vincent shares his perspective on today's markets, the evolving role of safe-haven assets and the challenge of building resilient portfolios in a world where old certainties are being challenged.
 
From Spinoza to Sartre, from gold to Treasuries, from crowd psychology to portfolio construction, this episode is a thought-provoking conversation about risk, resilience, and the search for certainty in an uncertain world.

Listen to this episode of 2050 Investors to understand what it will take to adapt in a more volatile world.

Credits
Presenter & Writer: Kokou Agbo-Bloua. Producers & Editors: Jovaney Ashman, Jennifer Krumm, Louis Trouslard.
Sound Director: La Vilaine, Pierre-Emmanuel Lurton. Music: Cézame Music Agency. Graphic Design: Cédric Cazaly.
English voice: Barry Neumann

Whilst the following podcast discusses the financial markets, it does not recommend any particular investment decision. If you are unsure of the merits of any investment decision, please seek professional advice. 

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Previous climate change policies focused primarily on mitigation, reducing emissions to achieve net zero by 2050 and avoid the worst outcomes. But as emissions continue to rise, extreme weather events intensify and physical risks materialize, a second, less comfortable reality is setting in: we must also adapt and build resilience, because we must now brace for impact.
 
In this episode of 2050 Investors, Kokou Agbo-Bloua explores the consequences of what this shift will mean in practice for economies, public policy, infrastructure, and capital allocation. He examines the growing economic need for climate adaptation and resilience, the widening gap between adaptation needs and available funding, and the uncomfortable question of how far adaptation can really go in a world of rising physical risk.
 
This episode’s guest is Carine de Boissezon, Chief Impact Officer at EDF (Électricité de France). She shares how one of France’s leading energy providers is adapting in a warming world. From water management and ecosystem preservation to stress-testing assets against extreme scenarios, she argues that resilience is both systemic and collective, no company or country can adapt in isolation.
 
Listen to this episode of 2050 Investors to understand what it will take to adapt in a more volatile world.

Credits
Presenter & Writer: Kokou Agbo-Bloua. Producers & Editors: Jovaney Ashman, Jennifer Krumm, Louis Trouslard.
Sound Director: La Vilaine, Pierre-Emmanuel Lurton. Music: Cézame Music Agency. Graphic Design: Cédric Cazaly.

Whilst the following podcast discusses the financial markets, it does not recommend any particular investment decision. If you are unsure of the merits of any investment decision, please seek professional advice. 

Hosted on Ausha. See ausha.co/privacy-policy for more information.

This episode was first aired on 28/07/2022

Is hydrogen gray until proven green? When looking into the energy transition and options for clean sources of energy, hydrogen is often listed as one of the key solutions for the future. The hype about its potential is undeniable, but so are the critics about its costs, efficiency and sustainability.
 
In this podcast episode, you are invited to participate in a "trial by podcast," where you act as the jury, weighing evidence presented by both sides—Solar and Wind Energy versus Hydrogen—in a compelling debate over the viability and sustainability of hydrogen as a key player in the quest for a greener future.

With exhibits ranging from research articles to interviews with experts like Jean-Marc Jancovici, the podcast offers a comprehensive overview of the current state of hydrogen technology, its economic feasibility, and its potential to revolutionize various sectors, from transportation to industrial processes. As an ‘expert witness’, Allan Baker, Global Head of Power at Societe Generale*, discusses the state of play of Hydrogen in the economy.

Ultimately, the episode challenges you to critically evaluate the evidence and form your own conclusions regarding the role of hydrogen in addressing climate change and advancing global sustainability efforts. As the trial concludes, it becomes evident that while hydrogen holds promise, further innovation and investment are necessary to realize its full potential as a sustainable energy solution in the journey towards Net Zero emissions.

“Calling Hydrogen to the Stand” offers a unique blend of expertise, entertainment, and critical analysis, making it a standout addition to any listener's playlist. Presented as a "trial by podcast," this episode takes a creative approach to exploring the topic of renewable energy, providing an engaging and immersive experience for listeners as they become jurors in a compelling debate.

*Since the episode originally aired, Allan Baker has been serving as Global Head of Advisory and Energy Transition at Societe Generale.

About this show
Welcome to 2050 Investors your monthly guide to understanding the intricate connections between finance, globalisation, and ESG.
Join host Kokou Agbo-Bloua, Head of Economics, Cross-Asset & Quant Research at Societe Generale, for an investigation of the economic and market megatrends shaping the present and future, and how these trends might influence our progress to meeting 2050’s challenging global sustainability targets.

In each episode, Kokou deep dives into the events impacting the economy, financial markets, the planet, and society. Through a magical blend of personal anecdotes, in-depth research and narratives overlaid with music, sound effects, and pop culture references, there’s certainly something for everyone.

Credits
Presenter & Writer: Kokou Agbo-Bloua. Producers & Editors: Jovaney Ashman, Jennifer Krumm, Louis Trouslard.
Sound Director: La Vilaine, Pierre-Emmanuel Lurton. Music: Cézame Music Agency. Graphic Design: Cédric Cazaly.
This episode is a reworked replay based on its original version. (link to the original version)

Whilst the following podcast discusses the financial markets, it does not recommend any particular investment decision. If you are unsure of the merits of any investment decision, please seek professional advice. 

Hosted on Ausha. See ausha.co/privacy-policy for more information.