Financial barriers are the # 1 reason students don’t enroll in college—or don’t complete (Gallup & Lumina Foundation). For higher education to fulfill its promise as the surest path to opportunity, we need to reimagine not only how it’s designed, but also how it’s funded.
That’s why Western Governors University is partnering with Social Finance and employer partners like Central Health to expand access to nursing careers through the ReNEW Fund—a sustainable, pay-it-forward model that aligns incentives across students, schools, and employers.
In Workforce Realigned, Volume II, a new book by the Social Finance Institute in collaboration with the Federal Reserve Banks of Atlanta, Chicago, Philadelphia, and Richmond, Jeannie Virden and I share how this innovative model is helping more individuals pursue high-impact, high-demand careers in healthcare.
More on the ReNEW Fund and other breakthrough financing models that are transforming workforce development here: https://lnkd.in/gQNsUz4N#WorkforceRealigned#SocialFinance#HigherEd
A working group in the European Parliament wants to take action to grow the organic market in support of the EU goal of 25% organic in all EU farming. Today I presented lessons from Denmark on how we moved organic food from niche to mainstream in supermarkets, achieving the highest organic market shares in the world: 30-60 % organic for many basic foods like milk, eggs, flour and many fruits and vegetables.
I also shared how we developed organic public procurement, reaching 60 and even 90 percent organic in cities like Copenhagen.
It is so positive that the European Social and Economic Committee recognizes the benefits of organic farming for nature, drinking water, resource efficiency, climate and not least farm incomes and rural resilience. And that if we want more organic farmers, we need to grow the market.
There were strong arguments, not least from Eduardo Cuoco, Director IFOAM Organics Europe for how organic farming benefits farmers and rural communities and is more resilient and self-reliant, in relation to the type of economic shocks and trade crises we are experiencing now.
Among the lessons and recommendations I shared were:
✅ Market growth requires a combination of 3 elements: strong policy, market partnerships and capacity building in organic sector organizations, as catalysts for action and collaboration.
✅ There are a wide range of policy measures that are proven effective in developing the organic market and growing organic in schools, hospitals, military barracks and all public sector meals. I shared many of these.
✅ Now that all EU member states have goals for organic farming, they need ambitious goals in CAP strategic plans for organic market growth and public procurement.
✅ A key missing element in most EU nations is capacity in the organic sector organisations to unite the organic producers and supply chains, partner with retailers and drive organic market growth. Together they can move mountains!
✅ Small public investments in organic sector organizations allows them to leverage sales platforms in retail and food service far beyond what any campaigns can deliver.
✅ Partnerships with retailers is the most impactful element. They make organic available, visible, affordable and meaningful for consumers. Democratizing organics.
✅ Public procurement requires strong local and national goals, investments in education in kitchens and labelling for documentation and pride in the kitchens. Partnerships with cities, wholesalers & kitchen workers unions drive transition.
✅ We need gamechangers that level the playing field in the market, like lower VAT on organic food, and fees on pesticides & fossil-fuel based synthetic fertilizers, so prices reflect environmental costs.
Thank you Henri Delanghe, Organic Unit in the Commission, Eduardo Cuoco, Wolfram Dienel, German Farmers Assoc & COPA COGECA, Barbara Koecher-Schulz, AGRARMARKT AUSTRIA MARKETING GESMBH, & Claudio Serafine, Organic Cities Network Europe for the great points!
Europe stands at a pivotal moment: the long-overdue reconstruction of its #defense industrial base is no longer optional—it’s imperative. Years of underinvestment, fragmentation, and reliance on external suppliers have eroded our capacity to equip and sustain our armed forces. The political momentum for rearmament is real—but if #Europe wants true strategic autonomy, it must act with purpose, not just scale.
🏛️ 1. Secure Sustainable Defense Funding
Defense spending across the EU has lagged for decades. At 2.2% of GDP, Europe simply isn’t investing enough to match the scale—or complexity—of modern defense needs. Temporary solutions like tapping into the ESM or NGEU can help, but long-term stability requires a well-capitalized European Defense Fund. Strategic autonomy begins with financial sovereignty.
🛡️ 2. Buy European First, Align Industrial Policy
Europe can no longer afford inefficiencies: 17 different tanks, 20+ fighter jet models, and procurement still driven by national rather than collective interest. We need a “Buy European” doctrine that mirrors the strategic coherence of South Korea or the US F-35 program. Cross-border procurement and industrial integration—particularly with UK firms now looped into joint EU programs—must become the rule, not the exception.
🏭 3. Scale Up and Rebuild the Supply Chain
Europe’s defense ecosystem—2,500 firms versus 60,000 in the US—is ill-prepared for sustained ramp-up. Achieving meaningful scale will take 3–5 years and requires industry-government co-planning. Strategic partnerships, regional stockpiling, SME inclusion, and cutting red tape are critical. Sovereignty must not mean domestic hoarding or champion favoritism.
🚀 4. Build a Dual-Use Tech Powerhouse
With just €9.5bn in defense R&D (vs $140bn in the US), Europe must radically rethink its innovation model. Dual-use innovation hubs, co-funded AI and quantum programs, and cross-border IP-sharing can help close the gap. Our goal: not to copy the US, Israel, or South Korea—but to become a competitive peer.
🧭 5. Forge Unified Governance
Europe’s greatest weakness is fragmentation: divergent export rules, overlapping procurement standards, and a lack of binding mechanisms dilute impact. We need a “unifying command”—stronger institutions, faster decision-making, and regulatory convergence across member states. A stronger Europe starts with shared rules and a common purpose.
📈 The time to rearm Europe is now—but not with yesterday’s playbook. This is not just about spending more; it’s about spending wisely, building industrial resilience, and thinking long-term. The global defense landscape is shifting—and Europe must move from reactive to strategic.
#StrategicAutonomy#Innovation#SupplyChains#Security#EUeconomy#Macroeconomics#R&D #Geopolitics#DualUseTech#Ludonomics#AllianzTrade#Allianz
Europe stands at a crossroads, facing pressure from geopolitical flashpoints and increasing protectionism, coupled with structural growth weaknesses. As we look ahead to 2025, Europe's top priority must be to strengthen its sovereignty in a shifting world order.
In my latest contribution to the World Economic Forum, I outlined four critical areas where Europe must take decisive action to maintain its place in the geo-economic showdown.
1️⃣ Europe must actively and pragmatically pursue free trade agreements. The recent breakthrough in the Mercosur deal presents a significant growth stimulus for the European economy and sends a strong message in favor of free, rules-based trade. What matters now is rapid implementation.
2️⃣ Europe needs to launch a strategic investment offensive for targeted funding of key technologies such as AI and quantum computing. Infrastructure investments for digital and green transformations are equally vital.
3️⃣ To effectively mobilize private capital, Europe must prioritize advancing the Capital Markets Union, enabling companies to access a wider array of European capital sources and enhancing economic sovereignty in an increasingly fragmented global economy.
4️⃣ Finally, we must simplify the regulatory landscape to facilitate faster project execution. This could involve implementing a “one in, two out” rule for new legislation and limiting the reappointment of retiring civil servants to one-third within the EU.
The path forward is clear: Europe's future geopolitical relevance hinges on a strong economy, necessitating massive investments and deregulation. It's time for Europe to step out of its comfort zone and prioritize its own interests to forge a stronger, more independent continent.
You can read the full article here: https://lnkd.in/eRC7VK6K#WEF25#Europe#RolandBerger
The European Commission's 2026 study on the climate transition and public finances arrives at a conclusion that should reframe board-level thinking on sustainability risk: a net-zero trajectory is fiscally sustainable, but the path there will fundamentally restructure how governments raise and spend money.
The analysis, conducted using two independent macroeconomic models across all EU member states, finds that revenues lost from declining fossil fuel taxation are more than offset by new income streams, including ETS1, ETS2, the Carbon Border Adjustment Mechanism (CBAM), and the removal of fossil fuel subsidies. The fiscal arithmetic can work. What differs is the distribution of the adjustment.
Several findings demand the attention of sustainability leaders, CFOs and board audit committees.
The International Monetary Fund estimates climate-related public spending could increase sovereign debt by 10 to 15% of GDP by 2050. Delayed carbon pricing adds a further 0.8 to 2% of GDP annually. For businesses operating across EU jurisdictions, sovereign fiscal stress is not an abstract risk. It translates directly into tax policy volatility, subsidy withdrawal and regulatory uncertainty.
Carbon pricing alone could generate revenue equivalent to 0.9% of GDP by 2050, but tax base erosion reduces the net figure available for balancing to just 0.4% without complementary measures. Corporates relying on current tax structures to model long-range cost bases are working with assumptions that will not hold.
Member states are not starting from the same position. Poland and Romania remain heavily dependent on EU financing to fund their transition, whilst Denmark and Spain are mobilising domestic public and private capital at scale. Supply chain exposure to high-dependency member states carries regulatory and operational risk that boards should be stress-testing today.
The broader message is clear: the transition does not threaten fiscal stability, but it will demand active management of the revenue and expenditure shifts it triggers. Companies that treat this as background noise rather than a strategic input are accepting avoidable risk.
Understanding the intersection of climate policy and financial materiality is now a core board competency. Platforms such as Plan A (plana.earth) are built to translate this regulatory and fiscal complexity into the decision-ready data that leadership needs.
European infrastructures stands at a turning point.
European prosperity has long relied on shared systems of energy, transport, and digital connectivity. Those systems now need renewal.
The latest BCG report, in partnership with the Danish Industry outlines how Europe can rebuild its foundation for prosperity through modern, connected, and sustainable infrastructure.
Here are the key points:
➡️ €12T investment in infrastructure is needed through 2040, meaning annual spend need to more than double from ~€300B to ~€800B per year.
➡️ Current performance in developing those infrastructures sets Europe on track to waste €3T in time and cost overruns, further straining public budgets.
➡️ Further, barriers from labor shortages, unfit policy frameworks to vulnerable supply chains put plans under additional stress.
Europe can move from fragmented national projects to a coordinated continental backbone. Five priorities will define success: prioritize European impact, ensure transparency & predictability, accelerate delivery, mobilize private capital, and enable interoperability.
I strongly encourage you to read this very insightful report: https://lnkd.in/eNtkzbdy
👏 Congrats to the fantastic team of authors: Esben Hegnsholt, Mikkel Krogsgaard, Peter Jonathan Jameson, Mogens Holm and Trine Filtenborg de Nully
‼️ Everyone Wants SAF. No One Wants to Pay for It ‼️
So — How Do You Finance a £500M+ Clean Fuels Project⁉️
Let’s be blunt: SAF plants are not being built because of financing.
High-CAPEX projects like SAF, e-fuels, methanol or hydrogen rarely die in the lab —
They die in Pre-FEED, FEED or just before FID when the money actually needs to move.
So let’s simplify the landscape. If you’re building a plant, here’s what your financing journey really looks like:
1. Pre-FEED / Pre-Development Stage
Goal: Prove you’re credible enough to justify deeper due diligence.
✅ Typical funding sources:
• Founder equity / angel capital — painful but essential skin in the game
• Innovation grants (e.g. UK AFF, EU Innovation Fund, DOE in the US)
• Strategic partnerships with tech licensors or feedstock suppliers (often in-kind support rather than cash)
What works best?
➡️ Grants + early offtake LOIs — your only real credibility anchor at this stage.
⸻
2. FEED / Advanced Development Stage
Goal: Turn assumptions into engineering-grade numbers.
✅ Typical funding sources:
• Blended public-private grant structures (e.g. matched funding)
• Corporate venture capital (CVC) — but only if you’re aligned with their supply chain needs
• Convertible debt from strategic partners (airlines, fuel suppliers)
What works best?
➡️ Grants + CVC + strategic equity, but only if you can prove future revenue.
⸻
3. FID / Construction Stage – The Real Cliff Edge
Goal: Secure bankable contracts so lenders stop seeing you as “experimental.”
✅ Funding instruments that actually close deals:
• Project finance (with senior debt + mezzanine) — only unlocked after offtake contracts & feedstock secured
• Revenue Certainty Mechanisms (e.g. UK GSP, US 45Z, EU FEETS allowances)
• Export Credit Agencies (ECAs) — massively underrated, especially for equipment-heavy builds
• Loan guarantees from governments (e.g. US DOE LPO model)
What works best?
➡️ Long-term offtake + GSP/45Z or similar policy-backed price floor.
TL;DR — Here’s the Brutal Truth
Technology without bankability is just a science project.
Policy gives confidence.
Offtakes give leverage.
Guarantees unlock capital.
If you’re stuck between FEED and FID and don’t know which lever to pull first — you’re not alone.
That’s exactly the gap we help close at StratX: bridging strategy, partners and financing pathways so real plants actually get built.
Let’s talk!
As procurement professionals, we often find ourselves at the crossroads of ethical decision-making and political influence. The pressure to conform to external interests can challenge both our moral compass and professional standards. So, how do we safeguard procurement integrity in the face of such challenges?
In my experience, mitigating the risk of political interference requires a structured approach:
1️⃣ Awareness – Recognizing undue influence is the first step. A strong ethical foundation, continuous training, and a deep understanding of procurement laws help professionals identify when decisions are being compromised.
2️⃣ Risk Assessment – Political influence often operates in grey areas. Conducting thorough risk assessments—evaluating stakeholders, mapping potential conflicts of interest, and ensuring compliance—allows us to anticipate challenges before they escalate.
3️⃣ Documentation & Mitigation – Transparency is our strongest defence. Maintaining clear records and use of digital tools, enforcing compliance frameworks, and fostering accountability mechanisms protect both personal integrity and institutional credibility.
What would I do differently? Strengthen institutional safeguards, encourage whistleblowing protections, and foster a culture where procurement professionals can challenge unethical pressures without fear of retaliation.
Your Thoughts? Have you encountered political pressure in procurement?
How do you uphold ethical decision-making in such situations? Let’s discuss. 👇
#Procurement#Ethics#PublicProcurement#RiskManagement#Integrity#SupplyChain
There’s a common misperception that public sector procurement can’t move like the private sector. The University of California Procurement is proving otherwise.
UC Systemwide Procurement is reshaping its model around strategic category management, disciplined sourcing, operational efficiency, economic impact, and revenue generation. In FY2025, these efforts delivered more than $400 million in value to the University.
The catalyst has been a holistic approach to organizational change—aligning people, process, and technology to shift both mindsets and execution. The result: best-in-class procurement practices grounded in data, strong supplier partnerships, modern systems, and measuring progress against strategic priorities.
Public institutions operate under tighter transparency and policy constraints, but the fundamentals of procurement remain constant. When applied with discipline and clarity of purpose, they drive measurable outcomes.
I’ve seen this from both sides. Public sector organizations steward large budgets and public trust. When public procurement performs at a high level, it doesn’t just reduce costs, it strengthens institutions and generates meaningful economic impact for the communities they serve.
The pandemic ended. But the fiscal party didn’t.
Governments globally have kept spending like it’s 2020. And the bill? It’s compounding.
The IMF data shows one thing clearly: most countries—developed and emerging—haven’t just failed to repair their balance sheets. They’ve doubled down on deficits.
The chart is ugly.
Debt rising across the board, regardless of growth or inflation. Few exceptions. Even fewer exits.
Example:
Since 2019, the US has added over $8 trillion in debt. But it’s not alone. Japan, UK, France—all have seen deficit-to-GDP ratios balloon.
This isn’t stimulus anymore. It’s structural.
The fiscal hangover hasn’t started. But it will.
For more see our Nomura CIO Corner: https://lnkd.in/e4TCax_g
Thanks to the team that keeps the macro sharp: Tathagata Bhar Anuragh BalajeeDhrumil Talati#fiscalpolicy#debt#globalmacro#deficit#nomura#cio