Invested In Climate

Jason Rissman

Invested in Climate hosts conversations with leading thinkers to help our listeners do more to address the climate crisis through their Work, Investments, Learning, Lifestyle and Activism. People everywhere, communities, governments and all sectors of the economy are mobilizing to address climate change. The scale of this global action is unprecedented. Never before have so many people dedicated so much energy, creativity and capital to addressing a shared, global threat. Will it be enough? What else is needed? And, most importantly, what can you do? We all have a part to play, so let’s go.

  1. Trust-Based Giving for Climate with Skyline Foundation & Trust-Based Philanthropy Project

    DEC 11

    Trust-Based Giving for Climate with Skyline Foundation & Trust-Based Philanthropy Project

    Philanthropy plays a uniquely critical role in climate action—it can fund the bold, early-stage, community-led, and systems-changing work that markets and governments too often overlook. And with the federal government cutting funding to a wide range of climate, energy and conservation efforts, philanthropy plays a more important role than ever before. That’s why we’re teaming up with the Skyline Foundation and their Climate Lead, Shereen D’Souza on a series of conversations on climate philanthropy. Over the coming episodes, we’ll explore how philanthropy can accelerate climate solutions—not just by moving more money, but by moving it differently and to high impact topics and geographies. We’ll talk to leaders who are rethinking power, reimagining partnerships, and reshaping the way resources flow. Today, we’re starting with a conversation that sets the tone for the entire series: trust-based philanthropy. What does it look like to fund climate work in ways that are long-term, rooted in real relationships, and prioritize the expertise of grantee organizations? How can funders shift from control to collaboration, and what happens when they do? Shereen and I are joined by Shaady Salehi, Executive Director of the Trust-Based Philanthropy Project. Shaady has been at the forefront of this movement, helping foundations transform their practices and support grantees with more transparency, humility, and flexibility. We talk about Shaady and Shereen’s backgrounds in philanthropy, what trust-based philanthropy is and how it can help non-profit partners be more effective, why it’s relevant to Skyline Foundation’s approach and ways other donors can learn more.  This series is one of several deep dive series we’ve created this year. Find the others on InvestedinClimate.com and reach out through the website if you’d like to partner on a deep dive series of your own.  On today’s episode, we cover:03:30 – Shadi’s Background & Origins of Trust-Based Philanthropy05:34 – Shireen’s Climate Journey & Work on the Paris Agreement08:38 – Inside the Skyline Foundation’s Climate Program10:21 – The Role of Philanthropy vs. Markets in Climate12:20 – What Makes Skyline Different as a Climate Funder13:29 – What Is Trust-Based Philanthropy? Core Practices17:11 – Accountability & Critiques of Trust-Based Philanthropy19:20 – Power Dynamics & Mutual Accountability20:58 – Inside the Trust-Based Philanthropy Project23:12 – How Trust-Based Philanthropy Shows Up at Skyline25:35 – Why Trust-Based Philanthropy Is Critical for Climate Now27:55 – How Trust Builds Honesty & Problem-Solving29:32 – Shadi’s Motivation & What’s at Stake Systemically33:12 – Barriers to Trust-Based Climate Philanthropy34:21 – How Skyline Shares Control with Field Experts38:11 – Entry Points for Funders New to Trust-Based Philanthropy40:23 – Closing & Call to Action Resources MentionedSkyline FoundationTrust-Based Philanthropy ProjectThe Whitman Institutea href="https://unfccc.int/process-and-meetings/united-nations-framework-convention-on-climate-change"

    41 min
  2. Filling the Climate Finance Gap with TED's Chris Anderson's All Aboard Fund & Spring Lane's Jason Scott, Ep #124

    NOV 25

    Filling the Climate Finance Gap with TED's Chris Anderson's All Aboard Fund & Spring Lane's Jason Scott, Ep #124

    We’re back with another episode in our series on the Missing Middle in Climate Tech in partnership with Spring Lane Capital. This is the fifth episode in the series. If you didn’t catch the others, check out InvestedinClimate.com/series and you’ll find our other episodes. If you have ideas for other series and would like to partner, get in touch through the website as well. The missing middle is a structural problem – a lack not only of available capital for climate companies, but also of the kinds of firms able to invest in them. New firms with new types of investment mandates are needed, and so I was thrilled to learn about a new fund called All Aboard. It’s a truly innovative firm developed by someone who has long had his finger on the pulse of the world’s biggest problems and boldest solutions. If you’ve ever watched a TED Talk you probably know Chris Anderson, who has led TED for the last 25 years. Chris is probably one of the best networked people on the planet, and that he decided to focus on building a new fund designed to address the missing middle in climate finance speaks volumes.  Spring Lane Capital Partner and Entrepreneur in Residence Jason Scott gets credit for putting together this episode and joins us in what was a truly fascinating conversation. All Aboard reflects the type of creativity and ambition needed to fill a critical climate finance gap, and I think we all hope their model inspires you in some way. Enjoy. On today’s episode, we cover:0:03:31 – Chris explains his shift to climate investing and TED’s climate initiatives0:04:53 – Setting the stage: The funding gap in climate tech0:05:23 – Jason describes the three buckets of the "missing middle" and All Aboard fund’s mission0:09:33 – Exploring the structural capital problem in the energy transition and limitations of current financial markets0:11:16 – Chris & Jason discuss scale challenges and why current investment models fall short for climate solutions0:14:12 – Impact of collaboration in the climate investing community, with examples from Spring Lane and All Aboard0:16:57 – Chris describes All Aboard: how convening and pooling investors can solve the missing middle0:22:42 – The role of “social proof,” building momentum and ecosystems around climate ventures0:25:12 – Fundraising goals for All Aboard and the scale of opportunity in climate tech0:29:00 – Recognizing growth and potential exits for climate companies; learning from historical performance0:31:14 – How companies may become eligible for All Aboard, criteria for selection, and the practical mechanics of funding0:34:51 – The necessity of both capital and sustained support for scaling climate solutions0:36:30 – Vision for the future: If All Aboard succeeds, expectations for climate tech and financial markets0:37:54 – Other approaches and financial innovations to address the missing middle0:40:24 – The role of government and public-private partnerships in de-risking and scaling clean tech0:42:56 – Closing remarks Resources MentionedAll AboardSpring Lane CapitalInvested in Climate – Missing Middle seriesTED and TED Countdowna href="https://www.creosyndicate.org"

    44 min
  3. Insurance for the Carbon Market with Artio

    OCT 30

    Insurance for the Carbon Market with Artio

    There’s been a lot of news in recent years about the risks within carbon markets. Companies buying carbon credits to offset their emissions have struggled with the uncertainty that a carbon project might not reduce as much carbon as they project. A forest could burn or a technology could fail to work properly and the project will underdeliver. Yet, hundreds of billions of dollars are spent on carbon credits, a figure that could grow well into the trillions.  Bilal Hussain is targeting this uncertainty in this market by offering insurance through his company Artio. Fun fact: Bilal actually saw the need for insurance while working at Sylvera – a carbon market sourcing and diligence platform and recent guest on our show – when he realized that investors were asking for collateral that no one had. Artio enters early – before the first tree is planted – to help more carbon reducing projects become viable. If you consider the size of the carbon market and the shortage of ways to insure new projects, the opportunity for Artio is quite significant. Bilal makes this complex space rather simple and easy to understand. We spoke about his background, the need for insurance, the risks different types of projects face, the growth he’s anticipating and much more. If you’ve long wondered about the risks of carbon projects, this conversation will shed some light on the space and one approach to unlocking its potential.   On today’s episode, we cover:00:58 — Introduction to carbon market risks and Artio’s approach02:40 — Bilal’s background and transition into carbon insurance04:25 — The creation of Artio and addressing insurance needs in carbon markets07:52 — Artio’s impact on financial and climate markets, and market sizing11:13 — Early-stage risk phases and insurance for carbon projects14:05 — Types of projects Artio insures; afforestation, biochar, rock weathering15:25 — Risk assessment by project type and key differences17:14 — Artio’s market positioning, product traction, and offering insurability assessments to developers20:41 — How Artio’s workshops educate insurers and demonstrate risk modeling22:46 — Case study: How coverage and claims/settlements work in practice27:25 — Market challenges: Standing out in a crowded space, growth ambitions, and automation29:10 — Key surprises about the carbon market and importance of policy31:47 — The role of data transparency and risk assessment in broader climate domains34:59 — Other insurance use cases for managing climate transition risk38:10 — Artio’s roadmap: expanding coverage, supporting developers, and scaling up Resources MentionedArtioSylveraMaya ClimateAsia Climate SummitSF Climate WeekCORSIA Insurance Connect with usBilal Hussaina...

    41 min
  4. The $9 Trillion Adaption Opportunity with Adapt[us]

    OCT 17

    The $9 Trillion Adaption Opportunity with Adapt[us]

    The vast majority of my interviews have focused on innovations, investing and advocacy related to climate mitigation – that is, what we can do to cut greenhouse gases and minimize the rise in global temperatures. What we do or don’t do now, will have lasting consequences and it is climate mitigation that is driving the transformation of the global economy. So it’s not surprising that mitigation dominates climate investing.   Adaptation and resilience, meanwhile, focus not on limiting or reversing climate change but rather on improving quality of life in a warmer world. Adaptation ventures receive only a small fraction of climate investments, but rising temperatures are creating tremendous demand for a new category of products. In a joint report by Boston Consulting Group (BCG) and Temasek, it’s estimated that between $500 million and $1.3 trillion could be spent annually by 2030 on technologies that help people adapt to a changed climate.  That’s the opportunity Darren Clifford is targeting with a new fund called Adapt[us]. Darren has worked for two decades on new markets as a founder, consultant at McKinsey & Co, and as an angel investor, and I found his perspective on the climate adaptation market to be packed with nuance and insight. We spoke about his background, three different categories of adaptation tech, the unique challenges they face, how they’ll make the future more livable, and much more.  On today’s episode, we cover:[02:45] Darren’s Background & Career Journey[06:39] Why Focus on Climate Adaptation?[08:07] Insights from Angel Investing & Supporting Founders[12:14] Why Adaptation is Underfunded; Adapt[us] Fund Overview[16:19] Challenges in Scaling Adaptation Solutions[17:31] Adapt[us] Fund: Focus & Stage, Why For-Profit[18:53] Measuring Impact & Third-Party Well-being Validation[23:10] Market Segmentation: Resilience, Repair & Recovery, Demand Adaptation[25:38] Market Size and Investment Allocation[27:50] Business Model Challenges for Adaptation Startups[30:23] Concrete Examples of Target Companies [32:59] Adapt[us] Venture Building Approach & Founder Support[36:42] The Venture Builder/Capital Model: Criteria & Structure[38:27] Norwegian Talent & Global Competitive Advantages[41:03] Building a Movement, Not Just a Fund[42:06] Short-Term Goals for Adapt[us] & Team Building[44:41] Closing Remarks Resources MentionedAdapt[us]BCG x Temasek Report: The Private Equity Opportunity in Climate Adaptation and ResilienceToronto Climate WeekGIC Report: Sizing the Inevitable Investment Opportunity: Climate AdaptationWRI Study: Strengthening the Investment Case for Climate Adaptation: A Triple Dividend Approach Connect with usa...

    45 min
  5. LA Climate Week Founders on Spreading Everywhere

    SEP 30

    LA Climate Week Founders on Spreading Everywhere

    In case you missed it, last week was NY Climate Week. There were well over 1,000 events — from summits with CEO and heads of state, to film screenings, concerts, parties, boat cruises, pitch sessions, hackathons and much more. I tried to sum up my experience at New York climate week in a special episode two years ago. This year, of course, the context was different with a US administration no longer interested in climate, and a lot of green hushing, hand wringing and new language that aims to be less politicizing. To me, one of the most interesting things about NY Climate Week is that it's not the only one. Climate weeks are spreading. San Francisco, Los Angeles, Washington DC, San Diego, Shanghai, Bangkok, Panama City all have climate weeks. There might be dozens more in the works. No city on the planet is immune from the impact of climate, and most cities have thriving ecosystems of organizations, innovators, investors, policymakers, researchers and more working to advance climate solutions and adapt to a changing planet.  In this conversation I’m joined by Nishant Mani and Dan Thorman, co-founders of the LA Climate Week. Nishant and Dan saw a need to bring together their community. They volunteered to lead and have built LA Climate Week into a successful example that people anywhere can follow to create their own week of solidarity, learning and action. We talk about their backgrounds, the founding story of LA Climate Week, the impact of the LA wildfires on last year’s event, lessons they’ve learned and much more. So whether or not you were in New York last week, I hope you’ll enjoy this conversation and consider how you can help your local climate community wherever you are. On today’s episode, we cover:1:22 – Recap of New York Climate Week & Spread of Climate Weeks3:43 – Nishant’s Personal & Professional Background6:19 – Dan’s Personal & Professional Background 10:16 – The Origin Story of LA Climate Week14:40 – The Role of Entertainment & Culture in LA Climate Week17:08 – Entertainment Industry’s Role in Climate Movement18:33 – Impact of Wildfires on LA Climate Week24:47 – The Broader Role of Climate Weeks & Local Collaboration27:51 – Lessons Learned from Organizing LA Climate Week32:20 – Evolving the Structure and Infrastructure Involvement33:02 – Measuring Success and Growth of LA Climate Week36:44 – Community Engagement & Accessibility39:32 – Aspirations for the Future: Magic Wand Scenario42:21 – Future Planning and Event Announcement44:14 – Closing Remarks and Call to Action Resources MentionedLA Climate WeekClimate CapitalTerra.doReunionCollidescope FoundationJane Goodall Institute Connect with usNishant ManiDan ThormanJason Rissman Keep...

    45 min
  6. Bridging the Climate Finance Gap with Blackhorn Ventures & Spring Lane Capital

    SEP 16

    Bridging the Climate Finance Gap with Blackhorn Ventures & Spring Lane Capital

    Climate tech companies face a range of structural challenges to securing the mid stage investment needed to scale their solutions. The lack of capital at this stage prevents many viable, potentially transformative technologies from going mainstream and eliminating gigatons of emissions. That’s why we’ve been running a series of episodes on the Missing Middle in Climate Tech in partnership with Spring Lane Capital. If you haven’t heard our previous three episodes in this series, check them out at investedinclimate.com, and if you have ideas of other topics that warrant a Deep Dive series please reach out through the contact form on our website.  For the fourth episode in our series, I’m joined by Spring Lane Capital Co-Founder and Partner Rob Day who guest hosts the conversation with Blackhorn Ventures Managing Partner Melissa Cheong.  On today’s episode, we cover:2:23 – Introducing Blackhorn Ventures & Melissa Chong3:31 – Melissa’s Path to Venture Capital & Impact Investing8:44 – Surprises & Learnings in Venture Capital10:13 – Overview of Blackhorn Ventures’ Investment Focus & Strategy13:55 – Addressing the Missing Middle: Digital vs. Hardware Solutions17:18 – Leveraging Accepted Hardware & Digital Solutions19:09 – The Role of Vertical Data Pools in Construction and Energy21:03 – AI, Utilities, and the Urgency for Digital Solutions25:10 – Building Resilience & Anti-Fragile Mindsets in Climate Tech28:14 – Exploring New Financing Instruments & Insurance32:21 – Portfolio Example: Formic – Robotics as a Service36:37 – Portfolio Example: King Energy – Solar for Multi-Tenant Properties38:55 – Lessons from Community Solar & Smart Billing40:00 – Takeaways: The Evolving Role of Venture Capital in Climate Impact43:24 – Closing Remarks Resources MentionedSpring Lane CapitalBlackhorn VenturesFormicKing Energy Connect with usRob DayMelissa CheongJason Rissman Keep up with Invested In ClimateSign up for our NewsletterLinkedIna href="http://instagram.com/investedinclimate" rel="noopener noreferrer"...

    44 min
  7. Charging Ahead with Electric Innovation

    SEP 2

    Charging Ahead with Electric Innovation

    I’ll admit it’s not often these days that I’m talking to climate leaders, particularly those working on policy, who say it’s an exciting time. This conversation was like a breath of fresh air. It’s not getting the headlines it deserves, but innovation is literally electrifying our country. Sector by sector, state by state, our economy is being transformed by electric technology replacing outdated fossil fuel applications. To elevate and accelerate this wave of innovation, Hawaii State Senator Chris Lee and California Energy Commission Chair David Hochschild have teamed up to launch the Electric Innovation Initiative. The Initiative is starting with an awards event during NY Climate Week, recognizing breakthrough electrification projects with $10,000 cash awards. But beyond this event, the Initiative is a 10-year campaign to showcase innovation, advance learning and shape policy. In this conversation, we go deep into the context of why the Electric Innovation Initiative is needed, what sort of progress is happening at the state level, how states are learning from one another, the many benefits of electrification and much more. I learned a lot in this episode and was thrilled to hear there’s much to celebrate in a still growing electrification movement. On today’s episode, we cover:[03:27] David Hochschild & His Role at the California Energy Commission04:09] Chris Lee & His Energy work as a Hawaii State Senator[05:05] Details of the Electric Innovation Initiative[07:07] State Legislators Collaboration: Sharing best practices and policy replication[09:09] Why electrification progress needs more attention[10:52] State and local responses to federal rollbacks[13:18] Policy Options for States: Connecting policymakers with electrification leaders[15:44] Fast-Tracking Projects: Permitting and financing challenges[17:01] California’s Permitting Reforms: Fast-track permitting for clean energy[18:49] California’s approach to stable, long-term programs[21:01[ Hawai'i’s 100% Renewable Mandate[23:05] Lessons from Hawaii and California: State leadership and policy replication[25:24] Legislator Network: Supporting new lawmakers and advancing innovation[28:54] State and local opportunities despite federal gridlock[32:57] Equity in Electrification: Directing investments to underserved communities[35:27] Vision for 2035: What a fully electrified future could look like[37:27] How listeners can support electrification[39:45] Optimism for the future and bipartisan collaboration Resources MentionedElectric Innovation InitiativeCalifornia Energy CommissionHawai'i State LegislatureClimate Week NYCNational Caucus of Environmental Legislators Connect with usHawaii Senator Chris LeeCalifornia Energy Commission Chair David HochschildJason Rissman Keep up with Invested In...

    43 min
  8. Funding Climate Tech from Growth to Scale with Spring Lane Capital & Capricorn Investment Group

    AUG 13

    Funding Climate Tech from Growth to Scale with Spring Lane Capital & Capricorn Investment Group

    We’re back with the third installment in our Missing Middle in Climate Tech series, created in partnership with Spring Lane Capital. If you haven’t yet heard the earlier episodes, head to our website for conversations exploring research from CREO and S2G on the financing gap facing climate tech companies caught between early-stage venture and large-scale project finance. And if you have ideas for future series or want to explore a partnership, we’d love to hear from you—reach out via our site (investedinclimate.com/contact). In this episode, we’re joined by Jason Scott, Partner and Entrepreneur in Residence at Spring Lane Capital, and Mark Berryman, Partner at Capricorn Investment Group. Capricorn is one of the OGs of sustainable investing, with over two decades of leadership in the space and more than $12 billion in assets under management. This conversation brought together two distinct perspectives: a large, established asset allocator and a nimble firm specializing in project finance and growth-stage venture capital. Mark, recently named LP of the Year by Impact Capital Managers, offered nuanced insights into the challenges and opportunities of bridging the missing middle. Jason’s decision to bring him into the conversation sparked a rich dialogue on what it will take to close this critical funding gap. Lots to unpack and learn in this one. Enjoy! On today’s episode, we cover:[03:08] Series recap and context on the “Missing Middle" [07:03] Mark’s background & experience in climate investing[11:09] Mark’s perspective on the "missing middle" & its evolution[14:08] Why mid-sized funds are suited to fill the climate financing gap[17:45] Capricorn’s approach to climate portfolios & supporting the ecosystem[21:46] What Mark looks for in emerging fund managers[25:07] Building a fully climate-aligned portfolio & impact reporting[28:45] Where to categorize Spring Lane’s investment approach[32:10] The need for more innovative, category-defying climate funds[33:33] Macro context: tariffs, market volatility & long-term climate investing trends[41:33] Three-to-five year outlook for climate investing & the missing middle[44:15] Industry consolidation & future innovations[46:34] Closing remarks Resources MentionedSpring Lane CapitalCapricorn Investment GroupThe Role of Family Offices with Spring Lane Capital & CREO, Ep #114Rethinking Climate Finance with Spring Lane Capital...

    47 min
5
out of 5
26 Ratings

About

Invested in Climate hosts conversations with leading thinkers to help our listeners do more to address the climate crisis through their Work, Investments, Learning, Lifestyle and Activism. People everywhere, communities, governments and all sectors of the economy are mobilizing to address climate change. The scale of this global action is unprecedented. Never before have so many people dedicated so much energy, creativity and capital to addressing a shared, global threat. Will it be enough? What else is needed? And, most importantly, what can you do? We all have a part to play, so let’s go.

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