Alexandra Themistocli, SEB’s Head of Sustainability in the DACH-region, reflects on the importance of education for the transition to a sustainable future.
The transition to a sustainable future is complex, yet one critical aspect remains underrepresented - education. Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world.” If education is important for the transition, are we ‘wielding this weapon’ effectively? And what can banks do to support?
Inventors of tomorrow
Alexandra Themistocli, SEB’s Head of Sustainability in the DACH-region
If the past is any guide, the inventors of tomorrows groundbreaking discoveries will be people either in or just out of university. This highlights the importance of academia’s ability to equip students with the skills to develop the solutions of the future, especially in the areas of science, technology, engineering and mathematics (STEM).
European school curricula are updated roughly every 10-15 years, a slow pace compared to the rapid changes and needs of the sustainability transition. To better prepare students for universities, subjects like STEM, AI and climate science should be integrated into curricula and updated regularly. Encouraging greater female participation in STEM remains a key goal, as less than a third of female students pursue these programs in Europe.
Collaboration
With over three million European STEM students, the need for cross-border collaboration is crucial. The same applies for academia and industry – programs that allow students to exchange between international universities and gain hands-on experience in corporate R&D projects can significantly expedite progress.
Universities rely on various funding sources. Besides tuition and public funding, industry is also financially supporting universities by outsourcing R&D for specific projects. These collaborations can lead to spin-offs, marketable innovations and startups. In general, higher private and public capital allocation is essential to bridge gaps, especially for unproven technologies. Banks can support with dedicated teams, as demonstrated by SEB in the Nordics, to support with financial know how.
The future leaders
Education is not confined to traditional schooling. As industries evolve, continuous learning and professional development are essential to prepare the workforce for the changes ahead. Internal and external training programs, particularly those focused on new technologies and processes, will be key to futureproof business and navigating the transition. Online courses and scientific research can complement these training efforts, offering additional sources of revenue for academia and benefitting both sectors.
A forward-looking education system is crucial for cultivating leaders who can integrate financial, technical and social dimensions of the sustainability transition into successful business strategies. These future leaders will continue to shape Europe’s transition journey towards net-zero when the baton is passed on - if we get education right today.
Transition Reflections: Personal insights into sustainability development
In a series of articles – Transition Reflections – SEB’s experts share insights and reflections on significant sustainability developments and topics. Alexandra Themistocli has been responsible for sustainability at SEB in Frankfurt since 2021, coordinating all activities in the DACH region relating to strategic ESG advisory for corporate customers and financial institutions.
SEB's sustainability experts have extensive knowledge in areas such as climate and financing solutions, sustainable investments and regulatory development in the European Union.
