In this episode, we talk to Livia Kalossaka, an expert in deeptech for climate and the Vice President of YES-Europe. YES-Europe is an organization that connects climate-minded young people with each other, enabling them to learn, network, and catalyze together. Through creating knowledge sharing communities, running events, and running policy projects, YES-Europe offers a platform for younger generations to have real impact.

This episode tackles various topics; from systems thinking, the challenges facing deeptech startups, to holacracy and how to engage younger generations in sustainability. These were our main takeaways:

1. Systems thinking, and the bigger picture, is key to solving our climate concerns.

Some technologies, such as biomass generation to produce biofuels, can on the surface seem progressive in terms of sustainability, but in reality can represent inefficient land use. Systems thinking, whereby connections are prioritized, can enable a more holistic approach, and, according to Livia, one plus one doesn’t have to equal two – it can equal even more.

2. We need more targeted, ‘sweet spot’ solutions in deeptech.

When it comes to technologies that will combat climate change, Livia suggests that 50% of the solutions required simply do not exist yet, and these are more on the hardware side – machinery that needs to be built and enhanced. She cites the example of Cultivated Bio – a startup focused on creating a palatable vegan cream that mimics the taste and texture of dairy cream. Cultivated Bio are able to utilize their unique biological processes to fill a gap in the market and pave the way for more widespread vegan alternatives.

Another problem Livia highlights is on the investor end – results-driven desire for rapid growth at the beginning of the journey can sometimes hamper technological experimentation. There are also issues when matching potential investors with science minded deeptech founders, and this is something that YES-Europe looks to combat, by forging connections across fields - between business schools, polytechnics, and so on.

3.  Narratives are key to successful sustainability engagement with young people.

Guilt driven narratives involving individual action are falling from favor. Being told by large corporates to drive less, print less, and so on fuels an eco-anxiety that prevents change at scale. Young people value the opportunity to contribute their perspectives at a policy level and beyond – at events like the European Youth Energy Forum, for example. On a smaller scale, groups looking to connect with the younger generation can think about expanding their range of community platforms, from something like Slack to Discord. This improves accessibility and appeal to under 23s, by meeting them on their terms.

4. Decentralized management can empower employees and improve communication outcomes.

For a deeptech startup to succeed, an internationalized mindset and a diverse team is something that Livia highlights as desirable. Holacracy is a management approach that replaces a top-down hierarchy with concentric circles – wheels moving together. In practice, representatives from each circle come together during meetings, with action points agreed on as a collective. This is especially appreciated by volunteers, as it eliminates anxiety around ‘bad’ decision making, and encourages a broader range of inputs.

References:

https://yeseurope.org/

https://news.stanford.edu/2022/09/15/real-strength-weak-ties/

https://www.holacracy.org/

https://link.springer.com/chapter/10.1007/978-981-19-4472-7_249

Factfulness: Ten Reasons We're Wrong About the World - and Why Things Are Better Than You Think, Hans Rosling, 2019

In this episode, we talk to Kjell Clarysse, Founder and CEO of Forestbase.

‘If nature was to be wrapped in a stable, legal financial format, would it be worth so much that it can out compete the deforestation economy?’

The answer, according to Kjell, is yes, and this is the founding principle of Forestbase. Forestbase looks to lead the way in reclassing forest according to an infrastructure model, not just accounting for intrinsic value, but also for future cash flow. This has four steps:

1. Acquiring the forest land

2. Developing its conservation and offset-based revenue stream

3. Converting it into a tradable asset with liquidity

4. Letting the market determine the price

In addition to discussing Forestbase’s model, the episode covers topics such as assessing intrinsic value, the future of carbon offsetting, and changes to deforestation rates:

1.    We need to acknowledge and demonstrate the intrinsic value of nature. Outside of Western Europe, intrinsic value of natural assets may not be on par with market value – it may be comparatively low. In emerging markets, valuable assets can be sold off to exploit for relatively little money, due to its unstable format. Kjell cites the example of a South Korean sugar company logging in Papua, where they paid $8 per hectare of pristine forest. Countries still holding a lot of pristine forests also need to see a much higher financial value for this in the national accounting. 

2.    Deforestation doesn't have to be a complex issue; it is a land use crisis. For every single hectare of forest on the planet, there are competing business cases; for agriculture, timber, and so on. Nature is consistently the loser in this competition – unless we look at other infrastructure assets. In order to live, to eat, to have an economy with jobs, we need infrastructure. In the same way we need roads and ports for our supply chain and transport, we also need nature for a breathable atmosphere, humidity cycles, clean water, erosion control, soil health, and pollination - if we don't, we cannot grow our crops. So that means that nature is, in itself, an infrastructure asset in its own right, and needs to be valued as such. With other infrastructure assets, value is determined by assessing future cash flow minus risk. But if we consider the future cash flow of biodiversity, nature can become an asset class of its own.

3. The threat of future logging and exploitative behaviors can be overcome. Local communities are not monoliths. There are some individuals there who log, and there are other individuals who wish to preserve nature. And there is no judging in that. This makes them a normal community. If the benefits that the resident communities receive from the standing forest  are bigger than what they can receive from logging, then the logging threat fades. This destruction is driven by economic incentive, and so the best deterrent against deforestation is just removing the oxygen that drives this behavior. This can only be achieved with continuous dialogue, continuous monitoring, and respecting  that these communities are first-line stakeholders. 

4.    Carbon offsetting and carbon credits are more than just atoning for climate sins – they are paving the way for something new. Kjell predicts that voluntary and mandatory carbon offsetting will, at some point, merge, with the focus eventually steering away from carbon and more toward ecosystem services. He hopes that the NYSE, succeeds in approving the new format, called NACs, which captures the intrinsic value of nature and provides a store of value. This is basically a new accounting form, that could be an important for the entire industry, allowing investors to allocate capital efficiently to meet their sustainability goals.

References: 

https://www.forestbase.io/

In this episode, we talk to Tom Duncan, the founder and CEO of Earthbanc, the world’s first data-driven carbon and investment platform, helping solve climate change profitably.

Mark Carney, the former governor of the bank of England, and the UN Special Envoy on Climate Action and Finance estimated that the voluntary carbon market will grow a $100 billion market. All of those carbon removals and reductions are going to need finance, monitoring, reporting and verification. There is a huge market opportunity for fintech enablers such as Earthbanc.

Earthbanc provides an end-to-end solution for carbon project developers who need finance and for businesses that need to purchase their carbon reductions from projects whose credibility is supported by data.

In this episode, we covered many topics, such as voluntary and regulated carbon markets, carbon offsetting, fundraising tips for climate tech startups, and more. Here are some highlights:

Due to the carbon emission load existing in the atmosphere and the continuous deforestation, unsustainable farming, and emission-heavy supply chains, the earth is likely to hit the 1.5-degree temperature rise fairly quickly. For businesses that cannot decarbonize their supply chains immediately due to a lack of technology or cost-effective options to do so, purchasing carbon offsets is the next best thing. It is part of a balanced rational approach companies can take while they work to decarbonize their energy supply.

Reforestation projects require someone to fly out to a remote forest and get the measuring tape out to assess every tree. It is labor intensive and expensive. AI-based technologies can reduce the costs of credible carbon measurement in landscapes through satellite imagery.

In voluntary carbon markets, credits are verified every five years. During this time, a forest can be illegally logged or burned. With satellite imagery, projects can be monitored continuously. This can ensure that climate claims are backed by real data, and are verifiable and credible, especially in the light of the anti-greenwashing clause in the European Sustainable Finance Disclosure Regulation.

Entrepreneurs who want to get involved in climate tech should look for unsolved problems in their region that they can tackle. This could range from transition to renewables and storage to  retrofitting buildings to be more energy efficient. Find real blockages, whether they are technical, regulatory, capacity building, or awareness-related, and map them out to design your climate tech startup that can solve these problems.

More and more investors want to know your impact on the triple top line, they want to see if the business is not only profitable but also good for the planet and people. Founders should research which metrics showcase their impact most accurately and communicate those metrics in an effective manner. Focusing on the triple top line makes the business more attractive as a whole for investors looking to put their money in companies that have a positive impact on the world and are not just profit-seeking enterprises.

Episode references:

Credits:

Intro-outro song "Sparks" by Ian Preece

In this episode, we talk to Leon van der Laan, the founder of REMODE, where he helps founders restructure their startup's organization making it more resilient, efficient, and investable.

We covered many topics from remote work and organisational transformation to self-determination theory and biohacking. Here are some highlights:

1. To successfully implement remote work, think about your mission, vision statement and values from day 1.

To thrive in a remote setting, you need to rethink the whole organisation, not just give people the opportunity to work from home. Being really clear about your common mission, vision and values and living these daily helps the team understand that the work they are doing matters, even if they do it from their kitchen table. Startups tend to postpone thinking about building the organisation until they get to Series A at least, but it is much harder to onboard people into the team when there is no clarity around the company’s mission and values that guide their daily work.

2. You don’t have to just be part of your company community, you can be part of many communities.

In the past, a company was a closed community you accessed with a job contract. We’re now moving towards communities being groups of marketers, growth hackers, salespeople. You can find and develop what you are strong at and distribute that to multiple communities, rather than be part of just one. Existing organizations can rebuild around communities, where people come together to connect and create.

3. Remote work redefines motivation and self-determination theory can help to nurture it.

Humans need three things in the workplace: autonomy, relatedness, and mastery. Autonomy is strengthened when allowing people to choose when and where to work as long as they deliver their results. In a remote organisation, 20% of time is reserved to focus on building relationships, which encourages relatedness. Finally, you exercise mastery when you can use your strengths and competencies across several communities instead of spending time on aspects of your role that you are not very good at or dislike doing. Applying the self-determination theory in remote work brings a higher level of wellbeing in the workplace, which increases engagement, productivity, and the likelihood of the startup becoming profitable.

4. Founders should let go of the need to control everything.

High turnover in startups typically happens because founders want to be involved in everything. New team members want the autonomy to explore and learn, and they miss the play element if they are told all the steps and given all the answers. It is better to not control everything and let the team experiment and bring their own input, which also nurtures motivation and engagement.

5. Schedule regular 1:1’s with your remote team

One of the most common struggles remote teams have is lacking a regular structure for 1:1’s with everybody in the company. The contact that teams have is mostly work-related. However, taking the time to connect as human beings, talking about their challenges, their wellbeing and how they are actually doing is crucial. Building a successful remote team is about opening up to everyone’s ideas and being more intentional with getting the team’s input on how to best do it.

Episode references:

Credits:

Intro-outro song "Sparks" by Ian Preece

In this episode, we welcome Belina Raffy, founder of Maffick (which means to 'boisterously celebrate'​), where she offers innovation & business improvisation consulting, coaching, inspirational talks and workshops to help us, our organisations and the planet to thrive. Belina also empowers social entrepreneurs, scientists, experts and activists to do Sustainable Stand Up, while editing and publishing her book 'Using Improv to Save the World (and me)'.

Tune in to this delightful conversation with Belina to learn more about how an improvisation mindset can be a healing lens to look at life, and can bring lightness and joy to challenges in our life and those of our planet. Here are some highlights from this episode:

1. Improv & humor as a tool to empower action. In challenges so serious as climate change, we can feel incapacitated by the scary statistics. The power of humor and improvisation can be used in this contextual environment where innovation and creativity are essential to finding a solution. There is something powerful about being present and connecting in joyful ways to innovate productively instead of being disconnected and fearful.

2. Bring improvisation mindset to help for transformation. The core capabilities of improv: letting go, noticing more and using everything, are practical to anyone tackling sustainability challenges. Letting go of ideas and behaviors that don’t serve us, noticing more of our own resourcefulness, and using it to move forward. The improv mindset helps to bring a lens of lightness to the challenge of climate change, to suspend judgment from ourselves, and to notice more.

3. Biomimicry example  for a thriving planet. What would be different in your organization if you really wanted life on the planet to thrive? Perhaps biomimicry infused with improv comedy could provide an answer. A healthy forest can help us design environments where people can have time and space to replenish and connect in a joyful way, especially after a pandemic where people are experiencing Zoom fatigue from back to back online meetings.

4. Startup founders should try standup comedy too. Too many times we hear talented entrepreneurs doing pitches that are too scripted and with no humor. It is refreshing to see someone brave enough to feel at ease with themselves and use genuine humor in their pitches. Improv comedy helps develop the much-needed resilience, so founders can bounce back easier, find joy in the startup journey and bring about positive change.

Episode references:

“Using improv to save the world (and me)” book by Belina Raffy

More about Maffick

4 S’s of healthy attachment by Dr. Dan Siegel.  The 5th S, ‘sense-making’ is by Peter Fonagy, talking about epistemic trust.  Blog by Dan Siegel:

The stand-up comedy set by the lady who doesn’t eat cows

The stand-up comedy set by the Feminist

The stand-up comedy set about being morally inconsistent in sustainability

More about Mister Rogers

The Frontier Development Lab USA and Europe

Credits:

Intro-outro song "Sparks" by Ian Preece

This episode covers the story of Ieva Vaitkevičiūtė, the founder and CEO of Mindletic, a mental gym for emotional balance with the purpose to promote emotional hygiene and motivate ongoing self-care. Mindletic is a 2nd place winner of The Global Hack which gathered over 15 000 participants from 100+ countries, winner at Futurepreneurs 2020 pre-accelerator and has been recognised by global media including Forbes, NHK WORLD-JAPAN, World Economic Forum, Delfi to name a few.

We had a wonderful conversation, covering starting a business in pandemic times, mental health, working with purpose, impact investing, and more. Check out a few highlights from the episode:

1. What it means to be a social business. As a social business, Mindletic aims to be financially sustainable just like any other startup. However, instead of KPIs like revenue growth being the main focus, the team tracks the impact on emotional balance - hours spent tackling emotional health, satisfaction rates using the app, decrease in employee turnover and sick leave. Financial sustainability and social impact together to make a business that can thrive and really have a positive social benefit at the same time.

2. Startups should solve real pains. Mindletic was created to solve a real-life problem that was accelerated by COVID-19 - growing distance between leaders and employees working remotely, patterns in decreased productivity, burnout, and increased employee turnover, which led to increased costs for hiring and onboarding. Identifying a real pain and the audiences affected by it is the key step when starting a company.

3. Take one step at a time. For Ieva, getting started on the entrepreneur’s journey was as simple as connecting with people who are interested in solving the same pain - emotional disbalance. Mindletic was a collaborative effort between entrepreneurs, psychologists, designers, HR people, and leaders. Another important aspect was approaching investors after already securing revenue streams to show the potential for financial sustainability. The main advice for entrepreneurs is not to think too far away and be overwhelmed by the size of the problem at hand, but to take it one step at a time.

4. Impact investors are your partners. Impact investors usually have specific interests, like climate change or mental health and would work together with the founders towards a solution, supporting with connections and experience. While ROI and other standard metrics are important, they also look at impact metrics and help you stay focused on the bigger vision.

5. Happiness is not a goal. We have so many emotions that chasing happiness is impossible and a sure way to set ourselves up for disappointment. Instead, Mindletic invites people to identify their emotional balance zone, and seek to stay within that zone while consistently expanding it.

6. Emotional balance is crucial for the climate too. When we are emotionally balanced, we make more mindful decisions, we are more aware of our feelings, and we don’t seek short-term comfort in buying things, or eating excessively, which have a direct impact on the environment through consumerism, and food waste.

Episode references:

Mindletic - a mental gym for emotional balance with the purpose to promote emotional hygiene and motivate ongoing self-care.

Book recommendation: "Nonviolent Communication" by Marshall B. Rosenberg

Credits:

Intro-outro song "Sparks" by Ian Preece

In this episode, we welcome Gihan A.M Hyde, the founder of Communique - a startup that specialises in communicating strategies focused on Environmental, Social and Governance (ESG).

Credits: 

Welcome back to the Triple Top Line Podcast, where you can learn how your business can create a positive impact on People, Planet, and Profit from the most brilliant minds in the startup and sustainability worlds.

Episode references:

In this first episode, we share the story behind Katalista Ventures and our work with startups, the Triple Top Line philosophy, and examples of startups making a positive impact on people, planet, and profit. We’ll talk more about removing the stigma around sustainability and using positive narratives to drive sustainable transformations.

Credits