Zero: The Climate Race A trillion-dollar fund manager on climate investing in 2025
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May 15, 2025 In this engaging discussion, Greg Wasserman, head of climate investment at Wellington Management, shares his 20 years of experience in climate investing. He tackles the uncertainty of investing amid fluctuating political landscapes and explores how AI is shaping energy strategies. Wasserman highlights the evolution of climate tech, emphasizing innovation's critical role in driving sustainable solutions. He also discusses the challenges posed by tariffs on solar and battery technologies, reflecting on the delicate balance between risk and opportunity in a transforming market.
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Climate Tech Evolution
- Climate tech has evolved from expensive, early-stage solutions needing government support to cost-competitive, high-performance products.
- Now, many green technologies outperform traditional ones without requiring a "green premium."
Growth-Stage Climate Investments
- Wellington invests in climate companies at growth stage with commercial revenue of at least $5 million, often doubling yearly.
- Investment sizes range from $10 million to $40 million typically in series B to series D rounds.
Span and Portfolio Diversity
- Wellington's portfolio includes Span, a smart circuit breaker panel company aiding residential electrification.
- They invest broadly in companies reducing emissions or building resilience to extreme weather via asset-light digital solutions.