Sustainability

Driving the transition: how policy, finance and investment intersect

19 Nov 2025 . 3 min read

NatWest in collaboration with the British Embassy in Oslo

On 11 November 2025, NatWest teamed up with the British Embassy in Oslo to host an event at the British Ambassador’s Residence, reinforcing UK-Nordic ties in a rapidly evolving global landscape. Bringing together leaders from finance, policy, and industry, the day focused on how macroeconomic volatility, geopolitical shifts, and the sustainability agenda are reshaping long-term investment strategies.

Setting the stage: a platform for insight and dialogue

The event commenced with opening remarks by the Ambassador to Norway, H.E. Jan Thompson, who set the tone for a day dedicated to exploring the forces shaping today’s economy. The discussions focused on three pivotal themes: the macroeconomic outlook, global geopolitics, and responsible investment frameworks.

Macroeconomic outlook: navigating uncertainty (Joann Spadigam, NatWest European Rates Strategist)

Joann kicked off with a sharp macroeconomic update, labelling 2025 a year marked by persistent volatility driven by trade tensions, shifting monetary policy, and geopolitical risks.

Key takeaways:

Global trade dynamics: the tariff playbook is now clearer; while trade headlines will still move markets, their impact is expected to moderate. The legacy of Trump’s policies continues to loom, with 2026 set to reveal their economic impact.
Monetary policy: the Federal Reserve is poised for rate cuts, balancing inflation pressures from tariffs with labour market signals. Meanwhile, the ECB is likely to settle at a 2% terminal rate, with fiscal stimulus offering a potential boost to European growth.
Regional resilience: despite global headwinds, Europe shows pockets of strength – but volatility remains the norm. Investors must adopt agile, forward-looking strategies.

Joann’s analysis underlined that long-term planning and diversification are crucial as macro uncertainty intersects with sustainability imperatives.

Global & geopolitical outlook: a fragmented world (Scott Livingstone, NatWest International Adviser)

Scott offered a compelling look at the increasingly complex geopolitical landscape, where power is fragmenting beyond traditional alliances.

Highlights:

Emerging players like India and militarily-capable smaller nations are reshaping global dynamics.
The Middle East remains a hotspot, with ongoing conflicts sending shockwaves through energy markets and trade routes.
Geopolitical risks are no longer isolated – they are interconnected and can trigger systemic disruptions.

The consensus: investors and corporates must heighten vigilance, diversify strategies, and embed geopolitical risk management into their long-term plans.

Navigating the energy transition: the intersection of investment, policy & finance (panel moderated by Arthur Krebbers, Managing Director, Sustainable Finance Advisory, NatWest)

Panellists Christina Schiøtt Liaos (UK Department for Business & Trade), Snorre Gjerde (Norges Bank Investment Management), Anna Margrethe Platou (DNB Carnegie), and Per Lund (Odfjell Oceanwind) explored how sustainability, economic resilience, and geopolitical stability are now inseparable.

Three core themes emerged:

Investment processes: investors must balance financial returns with sustainability goals amid macro volatility and polarised ESG debates. Long-term strategies should account for systemic risks like supply chain fragility and raw material dependencies, avoiding knee-jerk reactions.
Supportive policy environment: clear, stable regulatory frameworks and robust public-private collaboration are vital to unlock cross-border investments and fuel capital-intensive renewable projects. Regulatory certainty drives confidence and accelerates the energy transition.
Sustainable finance structures: the UK’s Industrial Strategy Green Paper was highlighted as a blueprint for aligning industrial policy with climate goals, fostering green finance, and enhancing international cooperation. Predictability and targeted support are key to mobilising private capital and deploying low-carbon infrastructure at scale.

The panel concluded that future responsible investment hinges on integrated approaches combining financial resilience, regulatory alignment, and sustainability leadership – underpinned by transparency, collaboration, and innovation.

Summary

The closing remarks delivered by Martin Arnborg, NatWest emphasized the global power structures fragment, strong bilateral and regional partnerships become more crucial than ever. The Nordic countries and the UK stand uniquely poised to deepen collaboration on energy security, sustainable finance, and innovation.

With increasing geopolitical complexity and economic volatility, resilient partnerships that leverage shared values, aligned regulation, and capital market expertise will be essential to drive the energy transition and strengthen economic ties. NatWest extends its sincere thanks to the British Embassy in Oslo, speakers, and participants for a forward-looking and inspiring event.

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