Climate Rising

Ellen Jackowski, HP’s Chief Impact Officer, describes the company’s climate targets and how HP is shifting its business model to respond to climate change. She explains how HP is both engaging their employees in the effort and meeting customer demands for increased climate action. For transcripts and other resources, visit climaterising.org  

In early 2021, a severe winter storm knocked out Texas’ power grid for days, leaving millions shivering in the dark and killing hundreds of residents. Other states have also been caught off guard by extreme weather events exacerbated by climate change. This episode of the Deep Background podcast features , Alice Hill who led the U.S. Department of Homeland Security’s effort to develop its first-ever climate resilience plan, being interviewed by Harvard Law School professor Noah Feldman. Hill explains what Texas’ electrical grid collapse means for the United States’ infrastructure at large. She also makes recommendations to start preparing infrastructure to be more resilient to extreme weather events.    For transcripts and other resources, visit climaterising.org   

Climate change poses two very different challenges to the U.S. Navy. First, the Navy has to buttress its billions of dollars of shoreline assets against rising sea levels. Second, it has to plan to be called on more often to address both military threats and humanitarian crises caused by climate change. In this episode of HBR Idea Cast, Climate Rising host Harvard Business School professor Mike Toffel and his colleague Forest Reinhardt discuss how the U.S. Navy is both addressing climate change and adapting to it. They explain what the private sector can learn from the Navy’s scientific and sober view of the world. Reinhardt and Toffel are the authors of the Harvard Business Review article, “Managing Limate Change: Lessons from the U.S. Navy”.    For transcripts and other resources, visit climaterising.orgResources:S. Department of Defense report: DOD Installation Exposure to Climate Change at Home and Abroad (April 2021)    

As the impacts of climate change mount, questions have arisen about whether the capitalist economic system we have in place is able to adequately address them. But what if, rather than upending the system, we recognized the power capitalism offers when it is properly regulated? In this episode of the Ask a Harvard Professor podcast, Harvard Business School Professor Rebecca Henderson talks through her own efforts to reconcile the climate crisis with her faith in the ingenuity of capitalism. “I believe that at the moment, our capitalism is also neither free nor fair,” she says. “The free market works when everyone can take part, and prices reflect real costs”—when polluters have to pay the cost of emitting fossil fuels. Henderson walks us through her vision for reimagining the system to address climate change by returning to its roots and building just and sustainable capitalism.For transcripts and other resources, visit climaterising.org

Many of the innovators we’ve spoken with this season are launching technologies or business models that produce less carbon than status quo approaches – leather made from mushrooms instead of cows, for example, and vehicles that run on electricity instead of fossil fuels. Other guests are finding new ways to finance those new technologies or business models. In this episode, we meet Steve Oldham, the CEO of Carbon Engineering, who is tackling climate change from a different angle – by developing a technology that captures carbon already in the air. The potential benefits of this approach are huge, but the challenges are at this point significant.

David Brand is founder and CEO of New Forests, a business that manages forests for long-term returns for institutional investors. He has an unusual climate vision. Right now the forestry business, together with agriculture and land use, is responsible for about one-quarter of the emissions that cause climate change. By unlocking the value of the carbon sequestered in forests, in conserved land, and other real natural assets, Brand aims to reverse this: Forestry, agriculture, and land use are currently responsible for producing one quarter of global emissions, but Brand wants to make the forestry industry responsible for capturing well over that percentage of emissions—all within 10 years. And he foresees a profitable way to achieve this.

Decarbonizing our economy will require shifting transportation from fossil fuels to electricity generated by carbon-free sources. Uday Khemka (HBS MBA 1995), co-Founder and Vice Chairman of SUN Mobility, aims to accelerate mass adoption of electric mobility in India by making it affordable and accessible. SUN Mobility’s battery swapping model has the potential to overcome the factors that have held back market penetration of electric vehicles in many places: high upfront costs, “range anxiety” (concern about a battery running low in the middle of a trip), and long charging times.

Generate Capital invests in and operates technologies that provide distributed clean energy and energy efficiency, electric vehicles and charging depots, and waste transformation—technologies important to efforts to mitigate climate change. CEO Scott Jacobs (HBS MBA 2007) describes how Generate Capital’s keys to success involve applying new business models and new financing models to tried and true technology and existing infrastructure, and in many cases taking on both financing and operating roles, much like a utility. Its approach seeks to bring to scale technologies critical for addressing climate change.

Shalini Vajjhala and Jamie Rhodes of re:focus partners share new thinking on how they are helping communities design and finance climate resilience projects needed to protect municipalities from the physical impacts of climate change, including more intense storms, sea level rise, droughts, and wildfires. They discuss resilience bonds, an innovative financial instrument that is enabling communities to finance large-scale infrastructure projects by capturing value from the costs they avoid to create a “revenue stream” from those savings.

Matthew Scullin, CEO of MycoWorks, is attempting to reduce the carbon impact of the fashion industry by producing leather made from mushrooms as an alternative to leather made from cow hides or plastic. His product is called Reishi, and unlike conventional leathers it produces very little greenhouse gases. And because it’s grown in a laboratory to precise product specifications, it produces far less waste as well.