(Available in French only)

In this episode, Meriem Mehdaoui, CFA, Managing Director of PBY Capital, welcomes Stephan Morency, Executive Vice President, Strategy and Planning, at Fondaction, who offers a fresh perspective on the tensions between return and responsibility. Through a candid conversation, he explores the inner workings of impact investing, the selection criteria, the grey areas, and the necessary trade-offs to align societal values with performance expectations. A clear-eyed and committed look at a form of finance that no longer settles for counting— but seeks to make a difference in the world.