With over 40 years in international banking and a deep commitment to sustainability, Richard Burrett brings invaluable expertise to Porto Business School’s MBA programs. Here, he shares insights into his journey, the impact of sustainability in business, and advice for MBA students aspiring to lead with purpose.
Can you tell us a bit about your background and how you became involved in teaching Porto Business School MBA courses?
RB - I have over 40 years of experience in international banking and finance, with a growing focus on sustainability. At ABN AMRO Bank, I helped develop the Equator Principles, establishing a standard for managing environmental and social risks in project financing, and later became the Global Head of Sustainability, there. I became a Fellow at the University of Cambridge Institute for Sustainability Leadership, where I've worked with international companies at Board and Senior Executive level as well as tutoring on their Master's in Sustainability Leadership for 15 years. Through my role as Co-Chair of the UNEP Finance Initiative, I met Dr. Sofia Santos of the Institute of Responsible Leadership, who invited me to speak at PBS in March 2019 for the launch of her book with Tania Duarte – O Setor Financeiro e o Crescimento Sustentável. Dr. Renata Blanc, who moderated the event, later asked if I’d be interested in leading a sustainability program in Porto. The rest, as they say, is history.
What do you find most rewarding about teaching MBA students?
RB- Having done an MBA myself, I found it a life-changing experience that provided key tools for understanding the business world. One of the biggest highlights was the interaction with fellow students, professors, and business professionals I met along the way.
Now, as an educator, this interaction—especially with students—continues to be one of the most rewarding aspects. These students come from diverse backgrounds and work experience and bring real-world examples to class discussions on business sustainability, making debates and feedback invaluable for refining my teaching. Above all, their eventual leadership around this agenda beyond the course is the key motivator for me!
What advice would you give to MBA students aspiring to launch sustainable ventures, particularly in addressing the challenges of integrating sustainability into their business models?
RB- I'd start by asking: what makes your business venture stand out regarding sustainability? Having a value proposition that is truly sustainable is critical. Tools like the Sustainable Business Model Canvas can help you think systematically about this, but bringing true foresight and systemic thinking to the process is hard.
In my experience, it often helps to consider how the sector of your venture might dynamically evolve over time. Sustainability analysis shows that business as usual is no longer an option. Sectors such as food, resources, energy, mobility, the built environment, and wellbeing require radical transformation to ensure a thriving world that creates socio-economic value within ecological limits. So, reflecting on how the value proposition of a venture contributes positively to this transition—and will continue to do so—is, in my view, essential.
In your opinion, what role does continuous learning and education in MBA programs play in cultivating a mindset of sustainability among students, and what strategies do they implement to promote sustainable practices for overall success?
RB- I’ve always been a fan of continuous learning. My first degree in Modern Languages opened doors to international business, and further professional studies, along with an MBA, helped advance my career. More recently, as I explored how to drive societal change toward sustainability, I went back to university for a Master’s in Social Innovation at Cambridge.
The dynamic nature of sustainability challenges calls for us to reflect on our worldviews and the paradigms that shape our thoughts and actions. Adopting a mindset that radical change is inevitable is essential for developing forward-looking strategies. Staying curious and using your knowledge to create impact and influence those around you is, in my view, critical.
Interview with Richard Burrett.
