Subsidies are the Ultimate Competitive Strategy

In this episode of Climate on the Edge, I’m diving into a topic that’s been top of mind lately—what happens if the political winds shift, and we lose momentum on climate policy? With the election approaching, there’s a lot of talk about the potential rollback of the Inflation Reduction Act and what that could mean for climate infrastructure funding. I recently attended Voyagers’ Annual General Meeting, where industry experts discussed the resilience of climate tech companies in the face of political uncertainty, and it got me thinking.

One of the most interesting moments at the AGM was Nat Bullard’s presentation, where he highlighted how institutional predictions about renewables have consistently been wrong—renewables continue to grow exponentially. Even with concerns about reduced subsidies, other speakers made a strong case that the best climate companies can thrive on their own. They argued that while subsidies are helpful, they’re not the sole reason for success. So, when is it really safe for investors like us to dive into climate tech?

In this episode, I also take a look at the bigger picture when it comes to subsidies. Industries like oil, gas, and agriculture have benefited from billions in government support over the years, and climate tech should be no different. While some fear a shift in political power could direct subsidies back toward fossil fuels, I believe waiting for certainty could mean missing out on huge opportunities. We need to rethink how we view subsidies and invest in the companies building our future, regardless of political changes. Thanks for listening, and as always, I’d love to hear your thoughts!

Episode Resources

Nat Bullard’s website w/ links to past presentations: https://www.nathanielbullard.com/

Timestamps

00:00 The Election…

01:03 Insights from the Climate Tech Venture Fund Meeting

02:56 The Reality of Subsidies + Wild Statistics

09:15 Political Risks and Opportunities Ahead

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