Invested In Climate

We know we need to be investing trillions of dollars annually into the climate transition. Venture capital is just a small slice of the pie, but there’s simply no time to slow down its contribution to advancing climate solutions. In 2023, however, climate tech venture funding dropped 30% to $32 billion. Whether this was a temporary slowdown caused by high interest rates and the macro environment, or the new normal, will make a big difference.Recently, I’ve been thrilled to start hearing about funds that are closing new and significantly bigger rounds. One such firm is Clean Energy Ventures. They just raised their second fund, which is three times the size of their first, and I was pleased to get to hear the details from Clean Energy Ventures’ Co-Founder and Managing Partner Temple Fennel. Temple’s been investing in climate tech since 2017 and has held fast to focusing on companies that can reduce emissions by multiple gigatons. In today’s conversation, we hear how Temple got started in climate tech investing and what he seeks in an investment. We hear about some of his portfolio companies, the changes he’s seeing in climate investing and much more. Lots to learn in this one – enjoy. In today’s episode, we cover:[03:02] Temple’s path & how he decided to focus on climate investing[7:54] Clean Energy Ventures’  investment thesis & what makes them unique[11:38] Expectations, assumptions & surprises from the first fund[14:25] Rebound Technologies, their business potential & climate mitigation opportunity[17:40] Aqua Membranes & why Clean Energy Ventures invested[19:51] Other examples of what Clean Energy Ventures is interested in[23:03] The second fund & the focus this time around[25:52] The Simple Emission Reduction Calculator: Emissions reduction & the causality for financial return[27:33] The process of raising capital today [30:42] The current state of the capital market for climate[32:36] Change in SBTI rules around offsetting & talk on decarbonization mandates[34:49] What needs to happen to get company leadership onboard for making near-term commitments to technologies that will drive their decarbonization[36:11] How investors are acting differently & outlook[37:45] Other interesting investment areas with opportunityResources MentionedClean Energy VenturesRebound TechnologiesAqua MembranesOXCCUNoon EnergyClean Energy Ventures’ Simple Emissions Reduction CalculatorS2G Report: The Missing Middle: Capital Balances in the Energy TransitionConnect with Temple FennellConnect with Temple on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

Exploring the impact of SEC's new climate disclosure rules, reactions ranging from celebration to lawsuits, importance of disclosures for climate risk assessment, influence of Europe and California's regulations, insights from expert Steven Rothstein on the rule change and future developments

If you think of Mastercard as simply a piece of plastic that enables you to buy stuff, you’re not seeing their vast network of businesses, their billions of customers, or the potential influence they have on consumer behavior.There have been countless efforts over the years to encourage consumers to shop more sustainably, but when it comes to the reach and data savvy that Mastercard brings, it’s a whole different ballgame. I’ve known Mastercard’s Chief Sustainability Officer Ellen Jackowski for many years, and I was delighted to sit down with her to understand Mastercard’s sustainability strategy. We talk about Ellen’s background and approach to leadership, the current moment in sustainability, Mastercard’s effort to encourage sustainable consumption at scale, how they’ve spread sustainability goals across their entire company, and much more. Ellen is a widely respected thought leader in corporate sustainability and this conversation offers a peek inside an ambitious and very challenging effort to create real impact. Mastercard is a NationSwell member and we’ll soon share a summary of this conversation as part of NationSwell’s Sustainability Next series. Enjoy!In today’s episode, we cover:[02:13] Ellen’s background & passion for sustainability [04:14] Ellen’s role at Mastercard[06:13] Present moment in sustainability - trends & concerns[08:13] The reach of Mastercard’s network[10:58] Sustainable consumption as a systems problem[12:29] Areas of opportunity & challenge[14:00] The Priceless Planet Coalition video drop[15:32] Mastercard’s carbon calculator[16:50] Influencing large emitting purchases[17:32] Promoting sustainable consumption around the world & US[18:52] The biggest challenge in reaching net-zero goals[21:00] Best ways to organize sustainability leaders[23:24] Tackling Scope 3 emissions[26:08] Mastercard’s Priceless Planet Coalition[27:53] Mastercard’s Community Pass Platform[29:21] Mastercard’s Start Path in Solidarity[30:52] How Ellen’s thinking in leadership has evolved[33:18] Resources to stay informed on sustainability[34:22] What else needs to changeResources MentionedMastercard: Priceless Planet CoalitionNationSwell: Next SeriesMastercard: Carbon CalculatorMastercard: Community PassMastercard: In SolidarityOutrage and OptimismProject DrawdownConnect with Ellen JackowskiConnect with Ellen on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

Managing Partner Mike Jackson and Partner Ramsay Siegal from Earthshot Ventures share insights on fundraising tips, AI in climate tech, non-dilutive project financing, and success stories. They discuss investment in hard-to-abate sectors like Kanin Energy, showcasing their unique approach to early-stage climate investing.

We know that motivating homeowners to invest in energy efficiency retrofits and home upgrades is hard. Energy efficiency might not sound glamorous, but across the US, retrofits can actually cut our residential energy usage in half. That’s why when I met Scope Zero CEO Lizzy Kolar, I was excited to learn about her company’s novel way of motivating home upgrades. What Lizzy and her co-founder realized is that our homes are now workplaces.  And, with employers having to account for emissions for remote workers, they now have an incentive to help homeowners invest in upgrades. Enter the Carbon Savings Account (CSA). Modeled after FSAs and HSAs, the CSA can scale quickly and help millions of homeowners across the US to begin investing in upgrades they’ve been putiing off. In this episode, we hear about Lizzy’s background, the founding story of Scope Zero, the problems they’re trying to solve, the best home upgrade investments, how the home upgrade ecosystem has been evolving, and much more. This is a fast and to-the-point episode. Hope you enjoy it.In today’s episode, we cover:[03:02] Lizzy’s background, what sparked her interest in climate & founding Scope Zero[05:50] Key needs that Scope Zero is addressing[07:17] The HSA model & how it works[08:24] How the HSA model translates to climate action[09:20] How someone might use the money they put in a Scope Zero account[10:15] What holds homeowners back from making investments[11:40] Evidence that consumers will invest in CSAs[12:23] The benefits of government incentives - Inflation Reduction Act[12:53] What home upgrades should be prioritized[14:43] The benefits of a Scope Zero CSA for employers[16:34] ROI for employers[17:53] CSAs in practice & the response[18:27] How far along is Scope Zero & the growth plan[19:44] Scope Zero’s total addressable market & opportunity[20:27] Quantifying impact in terms of emissions reduced & environmental benefits[21:06] Tracking the impact of CSAs using dashboards & data[21:44] Customers’ access to a partner vendor network[22:14] How the ecosystem surrounding home upgrades is evolving[23:08] How Scope Zero is financed & raising funding[23:47] Opportunities for aligning interests & motivating changeResources MentionedScope ZeroTomKat Center for Sustainable Energy - StanfordCaltech Rocket FundCollaborative FundConnect with Lizzy KolarConnect with Lizzy on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

We know that addressing climate change will take trillions of dollars of investment. According to the Climate Policy Institute, we’ll need to spend over $10 trillion annually for decades. and we only just exceeded $1 trillion for the first time in 2022. I’ll confess, I find these big numbers hard to conceptualize and I’m always glad for more nuanced ways to break them down. That’s why when I saw Oxford’s Climate Tech Initiative’s recent report, I reached out to one of its authors Jamil Wyne. The Oxford report builds on recent climate finance data by asking almost 150 climate investors, entrepreneurs, and policymakers what they're seeing. It's a snapshot from inside climate tech that identifies gaps, promising opportunities, and five recommended changes for climate finance. In this interview, Jamil and I cover all that and more. We go far beyond just talking about the numbers and I think you’ll appreciate the global perspective and ability to zoom in and out that Jamil and the Oxford report brings. Enjoy. On today's episode, we cover:[01:15] Introduction to the Oxford Climate Tech Initiative’s report & Jamil[02:31] Jamil’s portfolio & what's been energizing[04:19] How Climate Tech Initiative’s report got started[06:20] Growth & breakdown of climate finance investments[10:02] The mismatch in climate investing[12:43] Investor interest in transportation[15:20] Under investment in heavy industry, built environment & adaptation[17:41] The best investment opportunities within the energy sector[20:39] Overview of recommendations from the report [22:31] Growing climate funding recommendation[23:06] The role of governments & corporations[25:27] Building talent & workforce pools for climate[28:27] Focusing on solutions for vulnerable communities[30:30] Funding for adaptation[33:20] What is Riffle Ventures[36:08] Climate Tech Boot Camp, who it’s for & how it’s changed[41:27] Future projects & initiativesResources MentionedOxford’s Climate Tech InitiativeThe Climate Tech Opportunity ReportRiffle VenturesClimate Tech BootcampConnect with Jamil WyneConnect with Jamil on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

At the center of climate progress are scientists. They’re developing new technologies with which we can build a new, more sustainable global economy. Moving inventions from a lab to startup companies to scaled products, however, takes more than science. Research scientists had long lacked a support structure to help them build successful businesses. That’s where Activate came in. Founded in 2015 at the Lawrence Berkeley National Laboratory, Activate is a fellowship program that has helped almost 200 science fellows create companies that have now collectively created about 2,000 jobs and have raised about $1.5 billion. To learn more about Activate’s important work, we’re joined today by Activate CEO Cyrus Wadia. Cyrus brings a unique background spanning time in the Obama Administration, academia, Nike, and Amazon. We talk about how Activate works, lessons they’re gathering across climate tech verticals, examples of companies emerging from their fellowship, opportunities, gaps, and much more. I’m a big fan of the work Activate is doing and I’d guess you’ll soon be too. Enjoy.In today’s episode, we cover:[3:13] Cyrus’ background & career journey[6:01] Activate & the problem that its aiming to solve[9:47] The ideal Activate Fellow[12:38] The support that Fellows get & how the Fellowship works[14:25] Activate’s achievements[16:41] Success stories & companies that have emerged from the Fellowship[20:02] What's coming & gaps[22:20] Examples of where friction is lower for climate tech to scale[26:35] Applications of AI [31:54] The involvement of corporate partners & how they can show up[34:36] How else do we need to change our approach to addressing climate changeResources MentionedActivateSublime SystemsCalWaveFervoProject RedNoon EnergySoneraLawrence Berkeley National LabCyclotron RoadConnect with Cyrus WadiaConnect with Cyrus on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

If you’re listening to this podcast you’ve probably heard of the Sierra Club. It’s one of the largest environmental organizations in the United States, with about 4 million members and a history of advocacy going back to 1892.But what do you know about the Sierra Club Foundation? It’s a $200m organization that, as you’d guess, supports the Sierra Club. It also takes on ambitious initiatives to leverage its resources to protect the environment, transform the energy system, and more. One of those initiatives focuses on shifting trillions of dollars out of the fossil fuel economy. It’s a good example of the level of ambition of these organizations.To learn more, I sat down with Dan Chu and Pedro Henriques Da Silva. Dan is the Executive Director of the Foundation. Pedro is the Director of the Shifting Trillions Program. We had a fascinating conversation about the history, role, and accomplishments of both organizations, the goals and strategy of the Shifting Trillions program, being a 21st-century fiduciary, the upcoming election, and much more. This episode will push your thinking about the role of the Sierra Club and environmental organizations more generally. Enjoy. In today’s episode, we cover:[02:54] Background on Sierra Club[05:15] Sierra Club’s history & how the Foundation and Club are different[06:56] Size & funding of the organizations[08:09] Focus issue areas, how they are decided & how they inform capital allocation[10:23] Sierra Club Foundation & its broader role[12:37] The Shifting Trillions program & what it’s aiming to solve[13:54] The Foundation’s three roles & what it’s doing[18:21] How the roles of the Club & Foundation are distinct[22:36] What progress has been achieved so far with Shifting Trillions[23:57] Exciting goals being pursued[25:29] Progress & achievements that Dan has seen during his tenure[29:58] The state of the U.S. environmental nonprofit field[32:32] Support for climate through philanthropy[36:02] The importance of this election from an environmental perspective[39:02] Harnessing climate for young voter turnoutResources MentionedSierra ClubSierra Club FoundationShifting TrillionsImpactAlpha Article by Pedro: Fiduciaries have a duty of care to their investors and to the worldConnect with Dan Chu & Pedro Henriques da SilvaConnect with Dan on LinkedInConnect with Pedro on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

I know it’s wintertime for many of you, but that doesn’t mean we can ignore how cities around the world are heating up and how air conditioning is a growing contributor to climate change. Air conditioning is responsible for about 4% of global greenhouse gas emissions. Today, about 20% of electricity used in buildings and about 10% of global electricity use comes from operating air conditioners. With cities heating up and more people able to afford this technology, air conditioning emissions are expected to double by 2030 and triple by 2050.To understand this problem and some promising solutions, I sat down with Matthias Roth and Ran Roth. Matthias is a Professor of Geography and Urban Climatology at the University of Singapore. Ran is the Founder of Sensibo, a startup that’s using data and AI to improve the efficiency of air conditioners around the world. No family relation between the two Roths, but a shared interest in how cities are heating up and what we can do about it. We talk about urban heat islands, how cities are responding, the growth of air conditioning, Sensibo’s solution to making them smarter and more efficient, what else needs attention, and much more. Wherever you are, warm up and stay cool with this episode. Enjoy. In today’s episode, we cover:[03:25] Matthias’ background & focus[05:10] Ran’s background & insights into his work[07:13] The impact of a heating planet on cities[10:28] Why cities heat up more than their surroundings[12:36] How cities are tackling urban heat challenges[14:20] Unpacking air conditioners' impact on climate[17:48] Sensibo's solution to growing AC issues[20:42] Sensibo's customers & scale[21:52] Impact metrics - saving energy on a large scale[23:35] The global rise in demand for air conditioning[25:24] Sensibo's role in curbing AC's environmental impact[27:54] Sensibo’s unique features - geofencing and more[29:32] The crucial role of AI in Sensibo's vision[31:22] High-tech excitement & limitations[36:12] Identifying gaps in current climate discussionsResources MentionedUniversity of SingaporeSensibo Connect with Matthias Roth & Ran RothConnect with MatthiasConnect with Ran on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!

We all know that companies around the world are working to reduce their emissions and, hopefully, achieve net zero. But what does it take to set up a sustainability program? What are the steps in the process? What are the considerations along the way? And who are the partners one might work with? Most of this work happens behind closed doors, but sharing insights from corporate sustainability journeys can accelerate progress.  That’s why Atlassian, a technology company with a real commitment to addressing climate change, decided to open up their own process and share what they learned in a really clear and straightforward playbook.To learn more, I sat down with Atlassian Chief Sustainability Officer, Jess Hyman. Full disclosure: Jess is a member of NationSwell, the executive membership network and advisory, where I get to support impact and sustainability leaders like Jess. In today’s conversation, we walk step-by-step through Atlassian’s sustainability journey – from getting started, building internal buy-in, finding the right vendors, partners, and reporting protocols for reducing Scope 1, 2, and 3 emissions, to reporting on progress as well as setbacks, and much more. Whether or not you’re a corporate sustainability leader, this episode will help you understand what companies around the world are actually doing to address climate change. Enjoy.In today’s episode, we cover:[3:03] Jess’ background & path to sustainability work[4:21] Jess’ work at Business for Social Responsibility (BSR) & what she learned[6:09] What is Atlassian & their core products[6:44] Why Atlassian decided to share their sustainability journey[8:34] The process of going to leadership to develop the report[9:57] What is a materiality assessment & learnings[11:57] Atlassian’s sustainability goals, what it took to develop & share them[13:55] Sustaining internal collaboration[16:15] Atlassian’s goal to reach net zero by 2040[18:15] Scope 1, 2, and 3 emissions & how they show up for Atlassian[19:30] The Science Based Targets initiative (SBTi) approval process[22:00] Learnings around decarbonizing buildings[23:40] What are Virtual Power Purchase Agreements (VPPAs) [25:51] Engaging suppliers to reduce emissions[28:37] Transparency, accountability & reporting[30:21] Addressing Work-From-Home (WFH) electricity[31:49] What is the Sustainable Aviation Buyers Alliance (SABA)[34:24] What are residual emissions & how is Atlassian dealing with them[36:00] The quality of offsets[37:06] Reporting protocols & learnings[38:56] Building executive buy-in for uncomfortable levels of ambitionResources MentionedAtlassianAtlassian Sustainability ReportAtlassian’s Climate Story & Guide: Don’t #@!% the PlanetAtlassian Team PlaybookRE100Science Based Targets initiativeSustainable Aviation Buyers AllianceSustainability Accounting Standards BoardBusiness for Social ResponsibilityConnect with Jess HymanConnect with Jess on LinkedInConnect with Jason RissmanOn LinkedInOn TwitterKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramTwitterHave feedback or ideas for future episodes, events, or partnerships?Get in touch!