In February, Germany elected a new government. Friedrich Merz emerged as the new leader, but what are his energy and climate policies, and will Germany remain a climate leader in Europe and beyond?

Joining Cleaning Up this week is Patrick Graichen, a former Energy and Climate minister in the last government, representing the Green Party. Prior to entering government, Patrick ran the think tank Agora Energiewende, working on energy from 2001 to 2012. With his deep expertise Patrick offers unique insights into the evolving political landscape and its potential impact on Germany, Europe, and beyond. 

Patrick has witnessed how shifting public opinion can stall progress, and was responsible for a highly contested policy to phase out gas boilers and phase in heat pumps, which ultimately caused him to quit government. Bryony Worthington asks Patrick what he learned from that phase, and digs into the big questions surrounding the German car industry, nuclear power and the future of gas. 

Leadership Circle

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Davidson Kempner, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links

• Agora Energiewende:  https://www.agora-energiewende.org
• Patrick's Previous Appearance on Cleaning Up: https://youtu.be/MBCX7aZcRWI 
• Episode 154 with Kensa CEO, Tamsin Lishman: https://www.youtube.com/watch?v=-TpHa-uU6lc 
  
   

How can the U.S. government bridge the gap between clean energy innovation and large-scale deployment? Will the Trump administration accelerate progress or put up roadblocks for clean tech? And how can the U.S. stay competitive with China, which already holds a commanding lead in the sector? 

Jigar Shah joins Cleaning Up fresh from his four-year tenure as Director of the U.S. Department of Energy's Loan Programs Office (LPO). Appointed in 2021, Shah transformed the once-obscure office into a clean-tech commercialization powerhouse, committing more than $100 billion in loans to U.S.-based companies. But with a new administration implementing sweeping cuts to the federal workforce, is all his work at risk? Or will market forces and the very real risk of blackouts keep clean energy innovation moving forward?

In this conversation with Michael Liebreich, Shah shares how he turned the LPO into a driving force for clean technology deployment, and what lessons can be learned by policymakers, investors and entrepreneurs. He also offers a candid assessment of the opportunities and challenges across key sectors—from advanced nuclear to sustainable aviation fuels. 

Leadership Circle

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Davidson Kempner, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and more

• DoE Liftoff Reports: https://liftoff.energy.gov 
• Episode 9 with Jigar Shah: https://www.youtube.com/watch?v=QJhhinSeh9I
• Episode 193, Mike Headroom's AI Audioblog: https://www.youtube.com/watch?v=OwZ2iNh133A

How can climate activists be more successful in 2025? And where have they gone wrong? 

Kumi Naidoo has a storied career as an activist. At just 15 years old, he started out as an anti-apartheid campaigner and organiser in South Africa, before fleeing the country and attending Oxford University as a Rhodes Scholar, where he received a PhD for his research into the resistance movement in South Africa. 

After Nelson Mandela was freed, he returned home to help organise Mandela’s campaign to become President, and later became the head of both Greenpeace and Amnesty International. 

Naidoo has turned his energy to a new campaign, one that focuses specifically on the phase out of fossil fuels: the Fossil Fuel Non-Proliferation Treaty Initiative. The Initiative, founded by former Cleaning Up guest Tzeporah Berman, seeks to establish a binding agreement amongst the most ambitious nations to phase out fossil fuels. So far, it has been endorsed by 16 nation states and 131 subnational governments and cities. 

Naidoo joins Bryony Worthington to talk about what he's learned from 45 years of campaigning, from hunger strikes to occupying oil rigs in the Arctic, where he thinks activism needs to go from here, and why he believes the Fossil Fuel Fuel Non-Proliferation Treaty Initiative is the path forward. 

Leadership Circle

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Davidson Kempner, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and more:

• Canada's Controversial Queen of Green
• The Fossil Fuel Non-Proliferation Treaty

The global south needs to build out vast amounts of clean energy, and requires hundreds of billions of dollars annually to do. And yet, only a fraction of the investment going into clean energy and the net-zero transition is flowing into those growth markets. So why are so few investing?

Lucy Heintz is partner and head of energy infrastructure at Actis, whose most recent Energy Fund represents over $6 billion of investable capital. She is a driving force behind the small slice of investment which does address clean energy in growth markets. 

Lucy joins Cleaning Up to unpack Actis' approach to investing in critical clean energy infrastructure projects across the Global South. From assembling renewable energy platforms to managing foreign exchange risks, Lucy shares the strategies that have historically allowed Actis to succeed in markets that many consider to be too risky. 

The Acronym Corner:

• BII - British International Investment; the UK's development finance institution. https://www.bii.co.uk/en/
• LP - Limited Partner, the capital provider for fund
• DFI - Development Finance Institution, e.g. BII
• DISCO - A distribution company, in places like India and Pakistan. Responsible for distributing energy from producers to consumers.
• DNO - Similar to a DISCO but UK focused, a company licensed to distribute electricity.
• PPA - Power Purchase Agreement — A long term contract between an electricity producer and a customer, that guarantees electricity be bought and sold at a pre-negotiated price for the period of the agreement.
• MIGA - The World Bank's Multilateral Investment Guarantee Agency. Its mandate is to promote cross-border investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders. See: https://www.miga.org/about-us

Leadership Circle: 

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Davidson Kempner, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and more: 

• Actis Energy Infrastructure Fund: https://www.act.is/about-us/sectors/energy/
• Inside the World's Biggest Investor - Ep138: Carine Smith Ihenacho
• The Bridgetown Initiator - Ep145: Prof Avinash Persaud
• Enabling Africa's Green Energy Revolution - Ep120: Ana Hajduka
• Actis 2024 highlights film:
• Intro to Actis film:
• IPE: Generating alpha returns in energy infrastructure
• Infrastructure Investor: Shining a spotlight on emerging markets
• New Private Markets, De-risking transition investments in emerging markets
   

Disclaimer:

The statements made by Actis executives are as at February 2025 and are not necessarily representative of the views of executives of portfolio companies in which Actis has invested, and Actis assumes no obligation to update the information herein. Please refer to the following link for further important information in relation to this podcast: https://www.cleaningup.live/a-clean-energy-playbook-for-the-global-south-ep196-lucy-heintz/

Just a few short years ago, sustainable finance and sustainable investing were all the rage. The Glasgow Financial Alliance For Net Zero (GFANZ) boasted financial players controlling $140 trillion. 

Things have not been quite as smooth since: There's been extensive pushback, starting from the red states in the US, but spreading from there against ESG. And of course, sustainable finance and sustainable investing are firmly in the crosshairs of the new Trump administration. 

David Blood is the co-founder and senior partner at Generation Investment Management, and he's been a driver behind a number of the most substantial sustainable finance initiatives. He's built a very substantial asset management firm around the concept that sustainable investing will not just do the right thing for the planet and its people, but also provide superior returns. 

David joins Michael on Cleaning Up to argue the case for sustainable investing in 2025 and explain why there's been such a backlash to it. 

Leadership Circle 

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Davidson Kempner, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and more

• Generation Investment Management Website
• Inside the World's Biggest Investor - Ep138: Carine Smith Ihenacho 
• How China Became a Green Finance Superpower - Ep160: Dr. Ma Jun

Aviation accounts for around 2-3% of global emissions, and is showing no sign of decreasing. There has been a lot of focus on replacement fuels, but no real paradigm shift in the industry. Anders Forslund has a plan to change that. 

Anders is the CEO of Heart Aerospace, the Swedish airplane developers who've recently established an R&D facility in California to develop their 30 seater hybrid-electric plane. Later this year, their all-electric prototype will take to the skies in its first test flight. 

While there are a number of companies innovating in the aerospace sector, including Joby Aviation, featured in Episode 156 of Cleaning Up, Heart is targeting larger planes and longer routes. They already have orders to buy hundreds of planes, most notably from United Airlines, and have received early investment from Bill Gates' Breakthrough Energy Ventures. 

This episode was recorded at the Heart Aerospace facilities in El Sugundo, Los Angeles. 

Leadership Circle:

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links:

• The Heart Aerospace website
• A Magnificent Woman And Her Flying Machines - Ep156: Bonny Simi 
  
   

Will AI be a disaster for the climate, or a saviour in disguise? How is AI reshaping power needs around the world? And does a lack of clean electricity spell the end of the AI dream, or a new round of fossil-fuel reliant data centres? 

All this, and more in the audio adaptation of Michel's article for BloombergNEF: Generative AI: The Power and the Glory. 

Read the full piece at: https://about.bnef.com/blog/liebreich-generative-ai-the-power-and-the-glory/

Leadership Circle: 

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and More 

For a full list of background reading to accompany this Audioblog, visit: https://open.substack.com/pub/cleaninguppod/p/a-super-secret-ai-reading-list 

 

How can $10 billion be spent most effectively to address the climate and nature crises? What role can philanthropy play in driving systemic change? And how can new technologies like AI be leveraged to accelerate climate solutions? 

This week on Cleaning Up, host Bryony Worthington sits down with Dr. Andrew Steer, President and CEO of the Bezos Earth Fund, to explore these critical questions. Established in 2020 with a $10 billion commitment from Jeff Bezos, the Bezos Earth Fund is on a mission to spend this capital by 2030 - the "decisive decade" for climate and nature. 

Andrew shares insights into the fund's venture capital-inspired approach, balancing support for proven organisations and innovative newcomers. He delves into the delicate dance of respecting grantee expertise while providing strategic guidance, and the importance of avoiding dependence. The conversation covers the fund's diverse portfolio, from electrifying school buses to harnessing AI for nature monitoring and sustainable agriculture. Andrew also tackles the thorny issues of carbon markets and the need for a new mindset in the environmental movement. 

Leadership Circle

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and more

• The Bezos Earth Fund website  
• Is There a Future for Lab-Grown Meat? - Ep166: Bruce Friedrich 

Happy New Year and welcome to Season 14 of Cleaning Up. From the future of nuclear to growing tensions between China and the USA, we're off with a bang with a conversation between hosts Michael Liebreich and Bryony Worthington. They reflect on the key trends of 2024, and looking ahead to what might be on the cards in 2025, from China's rapid electrification to political upheaval in the US. Bryony and Michael get stuck into the challenges and opportunities around the build out of nuclear power, the potential of biofuels in aviation, and what we might expect from COP30 in Brazil later this year. 

Leadership Circle

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live. 

Links and more

• How To Win The Climate Argument | Ep172: John Marshall
• Canada's Controversial Queen of Green - Ep131: Tzeporah Berman 
• Is Trump's Victory A Win For China? Ep185: Professor Qi Ye
• Can Nuclear Repower China's Coal Fleet? - Ep163: Staffan Qvist & Dr. Yaoli Zhang 
• The Inconvenient Truth about Climate Science - Ep93: Prof. Roger Pielke Jr. 
• Paper on Curtailment of Nuclear Power Output during Heatwaves
  
   

Happy New Year from all of us here at Cleaning Up. This week we’re bringing you one from our archive of almost 200 episodes. It’s a conversation Bryony Worthington had with Naomi Oreskes in October 2023,  her very first episode as a co-host for Cleaning Up.  

Naomi Oreskes is the Henry Charles Lea Professor of the History of Science and Affiliated Professor of Earth and Planetary Sciences at Harvard University. A world-renowned earth scientist, historian and public speaker, she is the author of the best-selling book, Merchants of Doubt, and a leading voice on the role of science in society and the role of disinformation in blocking climate action, a topic that feels more relevant than ever. 

Please enjoy, and we’ll be back with Season 14 of Cleaning Up on January 8th.