Let’s talk about nature – the forests, land, oceans, biodiversity, and ecosystem that make this planet liveable and, if you ask me, quite worth saving. Nature regulates our climate – and stewarding nature well could contribute 20-30% of our emissions reduction needs. It’d also support livelihoods around the world and help prevent the mass extinction of many of our planet’s species. 

Nature-based solutions often sound simple – planting and protecting forests, farming in ways that improve soil health, restoring wetlands – but require sophisticated techniques to measure and track their impact. The lack of good nature monitoring systems has contributed to a $700 billion global financing gap and an inability of private sector investors to really lean into this opportunity. Currently, just 15% of investment in nature-based solutions comes from the private sector. 

This is where a young company called Cultivo comes in. Cultivo uses technology to understand the investment opportunity for nature based solutions. Having just raised $14 million of venture capital, they’re ready to scale. I was thrilled to speak with Cultivo Founder and CEO Manuel Pinuela. We discussed Manuel’s background as a repeat entrepreneur, how he came to found Cultivo, the technology that sets them apart, the potential they see and much more. I learned a lot and became a quick fan of Cultivo’s work. 

Hope you enjoy this episode. It’s our last of 2024, so I’m wishing you all happy holidays. I hope you all get to spend some time resting and recharging – perhaps including some time in nature – and gear up for the challenges ahead. Thanks for listening.

In today’s episode, we cover:

• [00:58] Manuel Pinuela's background and how he got into climate
• [06:25] Cultivo and the problem that they’re solving
• [09:30] Defining "degraded land" and Cultivo's target customers
• [12:55] Cultivo's technology and approach
• [15:11] Examples of complex nature-based solutions Cultivo works on
• [23:54] The climate impact and portfolio approach of Cultivo's work
• [31:19] Cultivo's progress and recent $14 million funding round
• [35:09] What the nature-based solutions market needs

Resources Mentioned

• Cultivo

Connect with Manuel Pinuela

• Connect with Manuel on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

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Today, we’re talking about wildfires and some innovative technology to prevent them. 

Climate change-related heat, drought, and what’s called thirsty atmospheric conditions increase the risks that come with wildfires. These fires have a real impact – they take human lives, create lasting respiratory health problems, destroy billions of dollars of property, and contribute significantly to global carbon emissions. The 2023 fire in Canada that burned an area the size of North Dakota emitted more carbon in five months than Russia or Japan emitted from fossil fuels in all of 2022. It should be noted, of course, that forests reabsorb carbon as they regrow, but still, their burning at that scale is a huge problem. 

Billions of dollars are being invested every year to prevent and limit wildfires, and I was excited to connect with a leading startup in this space to learn about what’s working and what challenges need to be solved. Today’s guest is Abhishek Singh, Co-Founder & CEO of AiDash, a company using satellites to help utility companies prevent powerline-cased fires. We talk about the problem of climate-related wildfires, the origin of AiDash, how their technology works, who’s using it, how they expect to contribute to fire mitigation, what else is needed, and much more. 

Smokey the Bear says only you can prevent wildfires, but maybe it's only you, thousands of satellites, AI and computer vision, and a growing ecosystem of technology companies and forest management professionals. Anyways, don’t mess around with fire and enjoy this episode.

Resources Mentioned

• AiDash

Connect with Abhishek Singh

• Connect with Abhishek on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
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When Tom Steyer and Katie Hall came together in 2021 to bring Galvanize Climate Solutions to the world, it promised to be something rather unique. They both bring decades of experience managing many billions of dollars, incredible networks, and insights to find the best, most impactful investment opportunities for climate. Recently, Secretary John Kerry joined Galvanize as a Co-Chair, adding perhaps unparalleled international expertise to their team. 

The firm prioritizes not just financial returns for their investors, but also real climate impact. I was thrilled to sit down with Galvanize Chief Impact Officer Nicole Systrom to learn about how such an all-star team thinks about the impact they create. We spoke about Nicole’s background, the three different asset classes Galvanize invests in, three different levels of impact they consider before and after their investments are made, the impact of the election on their work, and much more. I learned a lot and am certainly glad Galvanize is doing the work it’s doing. Enjoy.

In today’s episode, we cover:

• [02:35] Nicole’s background & career focus on climate
• [06:59] Galvanize & what makes it unique
• [11:21] Feelings & optimism in climate work
• [14:36] Galvanize's investment strategy across asset classes
• [15:59] Impact approaches for public equities, real estate & venture
• [17:59] Galvanize’s thesis & embedding impact across the firm
• [22:36] Three levels of impact
• [24:02] Diving deeper into impact approaches for different asset classes
• [26:11] Galvanize's real estate investment strategy
• [29:24] Nicole's goals & priorities for the next year
• [32:42] The impact of the recent election
• [34:28] What else needs to change in climate finance
• [36:28] Closing reflections & call to action

Resources Mentioned

• Galvanize Climate Solutions

Connect with Nicole Systrom

• Connect with Nicole on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
• Instagram
• Twitter

There are many reasons to believe the re-election of Donald Trump will be a major setback to climate progress. His previous record, recent campaign, ties to the fossil fuel industry, and perpetuation of misinformation, like the strange idea that wind turbines kill whales, all suggest we’re in for a radical reversal of America’s climate commitment. 

I’ve had many conversations with climate leaders since the election and a different narrative beyond this obvious fear became clear: Climate change doesn’t care who is President. Its impacts will be impossible to ignore. Business leadership and global competitiveness are now inextricably linked to navigating the climate transition. And, a robust ecosystem of influential actors domestically and abroad makes a complete abandonment of climate action unlikely. 

Today, I’m joined by two people who bring policy expertise at the federal, state, and local levels. Zach Friedman is the Senior Director of Federal Policy at Ceres, a nonprofit organization that works alongside investors and companies to advocate for sustainability. Caroline Spears is the Founder of Climate Cabinet, an organization that helps local candidates become successful climate champions. I found this conversation to be full of nuance and more uplifting than I expected.  

Our new reality is sobering and there’s no denying we face new challenges. There is hope, however, and it comes with the fortitude and savvy people like Zach and Caroline have already been demonstrating. This savvy will require telling different stories about climate, the undeniable business case, and the power of all of us who stay invested.

In today’s episode, we cover:

• [03:55] Background on Caroline’s & Zack’s roles at Climate Cabinet & Ceres
• [06:35] Potential challenges & opportunities for federal climate policy under the new administration
• [10:21] The implications of the U.S. potentially disengaging from international climate agreements
• [13:44] The critical role of state and local governments in driving climate progress
• [19:24] Priorities of Climate Cabinet & Ceres in the wake of the election results
• [26:11] How to support climate progress

Resources Mentioned

• Ceres
• Climate Cabinet

Connect with Zach Friedman & Caroline Spears

• Connect with Zach on LinkedIn
• Connect with Caroline on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
• Instagram
• Twitter

Have feedback or ideas for future episodes, events, or partnerships?

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Every once in a while I come across an investment firm with a really different edge and perspective. Overture VC is one such firm. Their specialty is policy – not just understanding the unique opportunities climate tech companies have with government incentives and helping them navigate that tricky terrain, but also actually lobbying for policies that’ll benefit their portfolio companies. 

In the words of Overture Founder and Managing Partner Shomik Dutta, there’s a $1.2 trillion dollar wall of government money coming downhill for climate companies. So Overture’s edge is meaningful and can make a big difference for a wide range of companies. Shomik and I discussed his background, how he moved into investing from politics, the opportunities recent climate policy has created for startups, examples of Overture’s portfolio companies and how the firm has helped them, and much more, including what’s at stake in the upcoming election.

Speaking of the election – it’s next week. If you don’t yet have a plan for how to get your ballot in or haven’t called your friends and family to make sure they’re voting, now’s the time. Shomik mentions a mobile app called Reach – a great tool to help you contact people you know in swing states.

In today’s episode, we cover:

• [03:01] Shomik Dota's Background and Transition to Investing
• [06:05] Overture VC's Unique Approach and Government Incentives 
• [09:12] The Role of Government in Climate Tech and Overture's Strategy
• [12:44] Overture's Portfolio and Specific Investments
• [16:56] Examples of Overture's Work and Impact
• [20:45] Overture's Fund and Investment Focus
• [23:05] Election Impact on Climate Policy
• [25:41] Future Policy Needs and Final Thoughts

Resources Mentioned

• Overture VC
• Reach

Connect with Shomik Dutta

• Connect with Shomik on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
• Instagram
• Twitter

Have feedback or ideas for future episodes, events, or partnerships?

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The apparel industry has a massive impact on the environment. The industry is the second-highest consumer of water and it drives almost 10% of global carbon emissions. Despite thousands of smart people working to make this industry cleaner and all sorts of investments by brands, emissions are still increasing. 

To learn about this problem and get an inside look at the efforts to address it, I caught up with two old friends, Jason Kibbey and Evan Wiener. 

Jason was the founder of the Sustainable Apparel Coalition and more recently a technology company called Worldly that helps businesses track their supply chains. Evan is a sustainability expert at McKinsey & Company who previously worked at Nike and H&M. 

These guys know the fashion industry inside and out. We talked about the state of sustainability in the apparel industry, the challenges of competitive and pricing pressures, the role of legislation, the opportunity for startups, the questionable authenticity of corporate sustainability aspirations, what needs to change, and much more. 

This is an industry that simply needs to change dramatically, and I learned a lot about how we might get there. Let’s go.

In today’s episode, we cover:

• [03:07] Backgrounds of Jason Kibbe and Evan Wiener
• [08:19] Environmental and Societal Impact of the Apparel Industry
• [11:11] Progress and Challenges in Sustainability Efforts
• [16:16] Role of Regulation and Industry Response
• [25:31] Opportunities for Startups and Innovation
• [37:33] Consumer and Investor Roles in Sustainability
• [42:50] Reconciling Optimism with Industry Challenges
• [44:51] Conclusion and Final Thoughts

Resources Mentioned

• Cascale (formerly Sustainable Apparel Coalition)
• Worldly
• McKinsey & Company 

Connect with Jason Kibbey and Evan Wiener

• Connect with Jason on LinkedIn
• Connect with Evan on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
• Instagram
• Twitter

If you’re an avid listener, you might know I’m always interested in learning about ways we might improve financial markets for climate ventures. Improving the flow of capital can, of course, be incredibly impactful in helping more climate solutions scale successfully. So I was really excited when I learned about Open Road and the important role they’re playing by offering bridge loans to promising companies. 

Ok, maybe bridge loans don't sound that sexy to you? Think of it this way: if you’re an entrepreneur, what could be worse than running out of money? How about running out of money when you already have significant funding lined up just not yet in-hand. The sad truth is that this happens all the time – companies go under because they simply can’t keep paying salaries or buying supplies while they wait for financing to arrive. That’s the financing gap that Open Road has been addressing for over 10 years. In this conversation with Open Road CEO Caroline Bressan we talked about her background in impact investing, Open Road’s history, how their loans have unlocked 10 times the amount of capital, their climate portfolio, and more.

In today’s episode, we cover:

• [03:08] Caroline’s background & role before Open Road
• [04:09] Learning from Calvert that shaped Caroline
• [05:13] Open Road, how did it start & the problem it's aiming to address
• [06:46] Financing gaps related to climate: The valley of death & the missing middle
• [08:37] Investment reach & focus in Sub-Saharan Africa
• [10:31] Finding & selecting portfolio companies
• [12:21] The type of impact Open Road has had
• [13:24] The need for bridge funding beyond what is provided
• [15:23] Open Road’s repayment rate
• [17:39] How much of lending has gone to energy, ag & other climate-related companies
• [21:01] Types of businesses Open Road has supported
• [26:30] What’s next for Open Road

Resources Mentioned

• Open Road

Connect with Caroline Bressan

• Connect with Caroline on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
• Instagram
• Twitter

Have feedback or ideas for future episodes, events, or partnerships?

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After a summer of record heat waves, I’m sure we’re all grateful for air conditioning. And we know, it’s not just about comfort or productivity, but with extreme heat, being able to cool buildings keeps people safe. Yet, it comes at a cost: air conditioning today is responsible for about 3% of global greenhouse gas emissions and demand is set to triple by 2050.

Maybe you’re thinking that heat pumps are the answer and will come to the rescue? They’re certainly an important part of the solution, but until electric heat pumps are plugged into a grid that is fully powered by clean energy, efficiency matters a great deal. Enter Mojave HVAC. Their liquid desiccant technology can cut the energy needed for cooling commercial spaces by 30-50%. For today’s conversation, I’m joined by Mojave Founder & CEO Phil Farese. We spoke about Phil’s past and how he learned about the economics of energy efficiency, Mojave’s business model, technology, and its potential role in keeping us cool without overheating the planet. Here we go.

In today’s episode, we cover:

• [03:01] Phil’s background & what led him to founding Mojave HVAC
• [05:07] Mojave & the problem that they’re solving
• [07:24] The limitations of heat pumps 
• [10:36] Focusing on efficiency & using less energy for our HVAC needs
• [13:53] How Mojave’s technology was developed & where the business is at 
• [16:04] Mohave’s target market & how sales are progressing 
• [17:21] Other insights on Mohave’s product 
• [18:21] The overall opportunity for business & impact
• [19:42] Emissions savings through technology adoption
• [20:25] Drivers of demand for Mohave’s product
• [22:26] The pros & cons of the liquid desiccants debate
• [25:37] Mohave’s next milestone & the biggest challenges
• [26:41] Blind spots in addressing climate change & buildings
• [29:27] Today’s climate innovation ecosystem & how it needs to improve

Resources Mentioned

• Mojave HVAC

Connect with Phil Farese

• Connect with Phil on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
• Instagram
• Twitter

Have feedback or ideas for future episodes, events, or partnerships?

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We’re weeks away from a historic election. It’s one that will decide the course of climate action in the United States at a pivotal moment, a moment when we can’t afford to slow down or send mixed signals abroad. And, it’s an election that all expect to be decided by just tens of thousands of voters. 

These are all facts that I’m sure you know already. 

Here’s what you probably don’t know: millions of environmentalists don’t vote. These are people who list the environment and climate change as their number one most important issue – and getting just 1-2% of them to vote could easily decide the election. 

This is the premise and work of the Environmental Voter Project. They’re a nonpartisan nonprofit organization, not focusing on a particular party, but instead focusing on protecting the environment simply by getting environmentalists to the polls. I learned a lot from my conversation with EVP Founder and Executive Director Nathaniel Stinnett. We talked about the difference between voter preferences and priorities, who these non-voting environmentalists are, and what actually works in getting them to vote. The answer to that riddle and much else in this episode might surprise you.

In today’s episode, we cover:

• [03:18] What's at stake in the 2024 election?
• [04:40] The implications for climate
• [07:14] How local elections influence environmental policy
• [08:56] Public sentiment on the environment
• [11:13] The distinction between voter preference & voter prioritization
• [13:28] The lack of voter turnout among environmentalists
• [15:06] Why aren’t environmentalists voting
• [20:21] Fossil fuel PR campaigns 
• [21:24] Environmental Voter Project & what they’re doing to engage
• [23:55] The most resonant, persuasive, helpful message to motivate behavior change
• [27:31] Measuring EVP’s impact  
• [30:00] What is EVP hoping to achieve this year 
• [32:49] The sensitivity analysis for EVP

Resources Mentioned

• Environmental Voter Project

Connect with Nathaniel Stinnett

• Connect with Nathaniel on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
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• Twitter

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If you believe the climate transition is creating trillions of dollars of opportunity, then backing public companies whose business models are centered on that transition and whose growth will be driven by it seems an almost obvious approach. 

That’s exactly what Heather Beatty and ScopeFour Capital are doing, and I was excited to hear what they’re learning and the opportunities they see.

In this conversation, we talk about Heather’s background and how she came to found ScopeFour after decades in institutional investing. 

We talk about their approach, their portfolio, and the opportunities they’re excited about. We talk about the election, how it's influencing their investing in the short term, and the potential long-term implications. We talk about green hushing the resilience of corporate climate action, and much more. Lots to think about in this one. Here we go.

In today’s episode, we cover:

• [2:45] Heather’s background & what got her interested in climate 
• [5:50] The founding of ScopeFour
• [7:54] Why aren’t we investing by following science & research
• [9:48] ScopeFour & what they’re aiming to do
• [11:32] What’s unique about ScopeFour
• [13:49] What to say to naysayers of climate investing
• [15:22] Specific examples of investments ScopeFour has made
• [17:06] Exciting spaces and opportunities right now for climate investing
• [18:45] What can be done to encourage faster adoption of climate tech
• [21:08] Tying emissions reductions to the size of an opportunity
• [23:24] Climate risk as a factor in investment decisions
• [24:58] The short-term & long-term impacts of the upcoming election
• [29:35] What we know about Kamala Harris’ interest in climate

Resources Mentioned

• ScopeFour Capital
• Project Drawdown
• Invested in Climate: Every job is a climate job with Project Drawdown, Ep #37
• Enphase
• ABB
• Nexans

Connect with Heather Beatty

• Connect with Heather on LinkedIn

Connect with Jason Rissman

• On LinkedIn
• On Twitter

Keep up with Invested In Climate

• Sign up for our Newsletter
• LinkedIn
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• Twitter

Have feedback or ideas for future episodes, events, or partnerships?

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