Invested In Climate

In just its first few weeks in power, the Trump administration has wreaked havoc on the climate tech landscape. An executive order aimed at accelerating fossil fuel extraction and slamming the brakes on renewables and the freeze on all federal grants has already had a devastating effect. Even though the freeze was quickly rescinded, climate companies and organizations across the country are struggling to operate amidst the uncertainty of whether the government will rescind its contractual obligations and cut funding. At stake are hundreds of billions of dollars that have been crucial to developing America’s green economy. 

Clearly, a good time to learn more about the importance of grant funding on climate tech, I sat down with Joel Armin–Hoiland, CEO of Climate Finance Solutions. Joel’s company has helped climate businesses identify, apply for, and manage over $1.6 billion in non-dilutive grants. In this conversation, we spoke about how Joel’s background led to a unique understanding of the importance of grants for climate companies, his company’s track record and impact, how the funding landscape is changing, and much more. 

Even with federal funding potentially disappearing, there’s still money on the table from other sources and a ton of complexity to navigate. This episode will be the first in a series with Joel as we try to help you all find your way to this new era. Here we go. 

• [02:58] Introduction to Joel & Climate Finance Solutions
• [06:08] The role & importance of grants in addressing climate change
• [08:22] Navigating the complex grant funding ecosystem
• [13:12] Climate Finance Solutions' services & impact
• [15:14] Examples of successful grant-funded projects
• [17:44] Challenges & strategies for securing grants
• [23:50] Impact of the Trump administration on federal grant funding
• [31:37] Alternative sources of grant funding & future outlook

• Climate Finance Solutions
• Rondo Energy
• USDA Partnership for Climate-Smart Commodities
• The Nature Conservancy
• Climate in Europe Innovation Fund
• Horizon Europe
• EU LIFE Programme

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Many experts today say we’re in the midst of the 6th mass extinction, a relatively short period of time when a high percentage of biodiversity dies out. To be clear, we’re talking about hundreds of thousands of species and an extinction event bigger than anything our planet has seen for over 65 million years when dinosaurs walked the earth. A recent study in the journal, Science, looked at 30 years of research across hundreds of species and showed the close link between climate change and biodiversity loss. It projects that if we can achieve the goals of the Paris Agreement, 1 in 50 species will go extinct by the end of the century. Meanwhile, if current emission trends continue, mass extinction could claim as many as 1 in 3 species on Earth. 

Sorry to start with such sobering data, but the threat to biodiversity is not talked about enough and the stakes need to be known.

There is, of course, hope and it lies with people like Brett Jenks. Brett is the CEO of a global conservation and climate change nonprofit called Rare. They’ve been around for 50 years, work in 60 different countries, and yet, are often behind the scenes. Rare has helped save species and ecosystems, and through that work have learned that their approach can contribute to systemic change. For them, it all begins with understanding people and how to change our behavior. I spoke with Brett about his background, Rare’s approach and impact, their conservation efforts, and how they’re working upstream to change finance, policy, and culture. 

Despite the stakes and the difficult challenge we face, I found this conversation to be quite inspiring and I certainly learned a ton from Brett. Enjoy. 

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What 2025 will bring for climate tech is pretty hard to predict. We’ve seen a slowdown in investments at the same time as we see a continued flood of talent into the space, maturing technologies, and a boom in AI that could be transformative for climate solutions. The new administration? Nobody really knows how they’ll orient around climate tech, or how private investors will respond.

There’s a lot of uncertainty, but of course, pros who have been in this game for decades and who study early-stage climate technology closely have some ideas of where we’re headed. So I was thrilled to get to catch up with Andrew Beebe, Managing Director of Obvious Ventures. We spoke about Andrew’s background as an entrepreneur and the parallels he sees between the Internet's and climate tech's early days. We talked about where climate tech is today, 5 predictions he has for 2025, generative science, technologies he’s most excited about, what needs to change to address the climate crisis, and more. Andrew brings the nuance and clarity of someone who’s been working closely with energy and climate entrepreneurs every day for a long time. We didn’t solve all the mysteries of what this year will bring, but I think Andrew shared some great food for thought and real opportunities.

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Happy New Year everyone. It's 2025, and we know this year will be tricky in more ways than we can even imagine. I hope our podcast helps you stay inspired and think big throughout the year. 

Having gotten to talk to hundreds of climate tech founders, funders, advocates, and corporate sustainability leaders in recent years, I’ve been inspired by the amazing energy, innovation, and tenacity of climate champions worldwide. I’ve said it before and will say it again, I believe climate is now the biggest movement in human history. Millions of people wake up every day and work to protect the planet in one way or another, and there’s never been a more impactful time to be alive. 

And yet, despite the investment and progress we’ve seen, we’re not on track to avoid devastating climate impacts. 

That’s why I’ve personally shifted my attention to culture change. We simply need new ways to recruit people to take action and leverage the power they have to make climate a real and unwavering priority of policymakers, industry, and communities. 

So I’m thrilled to kick off this year with an interview with Eric Levine, co-founder of one of the world’s most successful climate engagement organizations. Count Us In has reached hundreds of millions of people by integrating climate calls to action in what they love – entertainment and culture. In this conversation, we discuss Eric’s background, the behavioral science behind their approach, and how they’re reaching people through music, sports, fashion, film, TV, social media, and more.

Maybe you don’t consider culture and storytelling to be an exciting climate technology, but paradigms and mindsets are foundational to systemic change. They influence everything – how we think, what we prioritize, fund, and want. So give this episode a listen with an open mind and enjoy. Here we go.

• [03:55] Eric’s background & how he got involved in climate work
• [05:00] Eric’s interest in civic engagement & empowering young people
• [10:00] The founding of Count Us In & its goals
• [15:00] Count Us In's strategy of integrating climate action into popular culture
• [20:00] The parallels Count Us In has studied from other social norm shifts
• [25:00] Examples of Count Us In's work engaging football/soccer fans in the UK & Brazil
• [30:00] Count Us In's approach to determining & promoting climate actions
• [35:00] The difference between environmental policy support & prioritization
• [40:00] What’s next for Count Us In

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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.

• [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

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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.

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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.

• [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

• Galvanize Climate Solutions

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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.

• [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

• Ceres
• Climate Cabinet

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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.

• [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

• Overture VC
• Reach

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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.

• [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

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

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