Climate Finance Podcast

Robert Eccles - Visiting Professor at Oxford University and Founding Chairman of SASB - Sustainability Accounting Standards Board

Purchase the Climate Finance Course at www.climatefinancecourse.com

Robert G. Eccles is a leading ESG integration academic focusing on sustainable corporate and investment strategies. His work focuses on how capital markets can contribute to ensuring a sustainable society for generations to come.

Dr. Eccles is a Visiting Professor of Management Practice at the Said Business School, University of Oxford. He was a Tenured Professor at Harvard Business School. Eccles has also been a Visiting Lecturer at the Massachusetts Institute of Technology, Sloan School of Management, and a Berkeley Social Impact Fellow at the Haas School of Business, University of California, Berkeley.

He was the founding chairman of the Sustainability Accounting Standards Board (SASB) and one of the founders of the International Integrated Reporting Council (IIRC).

He is also the first Chair of KKR’s “Sustainability Expert Advisory Council” and was an Eminent Academic Advisor to the Boston Consulting Group on Global ESG Integration and Reporting.

He is notably a prolific commentator on Forbes, having published over 150 articles.

Dr. Eccles received an S.B. in Mathematics and an S.B. in Humanities and Science from the Massachusetts Institute of Technology and an A.M. and Ph.D. in Sociology from Harvard University.

Topics discussed:

• Dr. Eccles’s early intellectual evolution was from studying mathematics and humanities at MIT to doing a Ph.D. in sociology focusing on the construction industry.

• How writing books on Transfer Pricing and Investment Banking Dealmaking earned Dr. Eccles tenureship at Harvard Business School.

• Transition from Academia to Consulting in Disclosure and Performance in the 1990s

  • 1991: The Performance Measurement Manifesto

  • 1992: Creating a Comprehensive System to Measure Performance

  • 1993: Consulting: Has the Solution Become Part of the Problem?

  • 1995: Improving the Corporate Disclosure Process

• Book Publications on Value & Integrated Reporting in the 2000s:

  • 2001: The Value Reporting Revolution: Moving beyond the earnings game

  • 2002: Building Public Trust: the Future of Corporate Reporting

  • 2010: One Report: Integrated Reporting for a Sustainable Strategy

• Founding Leadership Journey with IIRC (International Integrated Reporting Council) and SASB (Sustainability Accounting Standards Board).

  • Post-SASB Book Publication: The Integrated Reporting Movement: Meaning, Momentum, Motives, and Materiality (2014).

• Importance of Materiality:

  • Materiality in Corporate Governance: The Statement of Significant Audiences and Materiality (2016).

  • A Preliminary Analysis of SASB Reporting: Disclosure Topics, Financial Relevance, and the Financial Intensity of ESG Materiality (2020).

  • How material is a material issue? Stock returns and the financial relevance and financial intensity of ESG materiality (2020).

• Thoughts on IIRC & SASB Consolidations to ISSB-IFRS

  • A Debate At The Oxford Union: Should FASB And IASB Set Standards For Nonfinancial Information? (2018 - Forbes; SSRN). 

  • The International Sustainability Standards Board As An Ideological Rorschach Test (2021 - Forbes).

• Historical Origins of ESG and Sustainability Reporting

  • Exploring social origins in the construction of ESG measures (2018).

  • The Social Origins of ESG: An Analysis of Innovest and KLD (2020)

  • From “Who Cares Wins” To Pernicious Progressivism: 18 Years Of ESG (2022)

• Political Backlash and Regulation on ESG:

  • Some Constructive Feedback To 23 Red States On Their Anti-ESG Campaigns (August 2023).

  • A Color Spectrum Analysis Of The Redness Of 23 Red States (July 2023).

  • Written Statement for the House Financial Services Committee June 12, 2023 Hearing entitled "Protecting Investor Interests: Examining Environmental and Social Policy in Financial Regulation"

• Anti-ESG Fund Analysis: Drilling Into DRLL’s Top 10 Holdings: A Woke Analysis (2022)

• Global SDG Funding Gap:

  • How to close the $2.5 trillion annual funding gap (Jan 2018). 

  • $2.5trn in need is not $2.5trn in opportunities (September 2023).

• Advice to Future ESG and Sustainable Finance Academics, Practitioners, Financiers, and Investors.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 26 September 2023.

Shivaram Rajgopal - Professor of Accounting at Columbia Business School

Purchase the Climate Finance Course at www.climatefinancecourse.com

Shivaram Rajgopal is the Kester and Byrnes Professor of Accounting and Auditing at Columbia Business School. He has previously held professorship positions at Duke University, Emory University, and the University of Washington.

Dr. Rajgopal´s research is focused on ESG, Governance, Financial Reporting, Valuation, Fraud, Executive Compensation, Short-Termism, Corporate Culture, Technology, and Sovereign Debt/Fiscal Responsibility. He has 200 academic publications and 100+ op-eds on Forbes. Prior to his academic career, he started his professional career at Proctor & Gamble and CitiBank.

Dr. Rajgopal received his Ph.D. in Accounting and Finance from the University of Iowa and a Bachelor of Commerce from the University of Mumbai. He is also a Chartered Accountant from the Indian Institute of Chartered Accountants.

Topics discussed:

• Dr. Rajgopal´s intellectual evolution from being a Chartered Accountant in India to writing a Doctoral Dissertation on the Commodity Price Risk Exposure of Oil and Gas Producers.

• Early Research Interest: the IPO Boom in the 1990s (Source) and the Enron Scandal (Source).

• Evolution of Reporting:

  • Did Investor Interest In Financial Reporting Peak With Enron? (Source).

  • ESG Is A Response To A Broken Reporting Model (Source)

• Limited Role of the SEC regarding Climate Regulations: The SEC’s Attempt To Write Generally Accepted Climate Principles ( Part 1 & Part 2)

• What If Both Sides Of The ESG Debate Are Right About US Majors’ Oil And Gas Investments, But For The Wrong Reasons? (Source).

• Perspectives on ESG Strategies:

  • Screening: Does ESG Negative Screening Work? (Source).

  • Shareholder Engagements: Big Three (Dis)Engagements (Source).

• ESG Asset Class Perspectives:

  • Private Equity: Does Private Equity Have An ESG Problem? ( Part 1 & Part 2).

  • Green Bonds: Rethinking the Value and Emission Implications of Green Bonds (Source).

  • REITs - Real Estate Investment Trusts:

    • Hotels In Name Only: The Strange Case Of Lodging REITs (Source).

    • The Need For Climate Risk Disclosures: A Case Study Of Physical Risk Of Two REITS, EQR and ARE (Source).

  • (Re)Insurance:

    • A Comparative Analysis Of Incorporating Climate Risk In Underwriting Insurance For AXA Vs. Chubb, Liberty Mutual, And Travelers (Source) and also within their Investment Portfolios (Source).

    • ESG Default Insurance (Source).

• Advice to Future Generations: What Skills Should Finance Students Seek To Acquire In School? (Source)

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 11th October 2023.

Lisa Mandle - Lead Scientist at Stanford University’s Natural Capital Project and Lead Author of Green Growth That Works.

Purchase the Climate Finance Course at www.climatefinancecourse.com

Dr. Lisa Mandle is a Lead Scientist and the Director of Science-Software Integration at Stanford University’s Natural Capital (NatCap) Project.

She is the lead author/editor of Green Growth That Works: Natural Capital Policy and Finance Mechanisms From Around The World.

Dr. Mandle works with governments, multilateral development banks, and NGOs, especially in Latin America and Asia, to incorporate the environmental impact of land management and infrastructure projects on ecosystem services, social equity, and human health within development decisions.

Prior to joining NatCap, She earned her Ph.D. in Botany from the University of Hawaiʻi at Mānoa and a combined A.B./Sc.B. in Anthropology and Biology from Brown University.

Topics discussed:

• Dr. Mandle’s intellectual evolution from a Ph.D. in Botany to researching Natural Capital Policy and Financial Mechanisms.

• Overview of the Natural Capital Project at Stanford University.

  • InVEST Software: Integrated Valuation of Ecosystem Services and Tradeoffs.

  • 500+ National and Global Partnerships with Research Institutions, Governments, NGOs, and Private Sector.

  • Natural Capital Symposium in Early June 2024.

• The International and Multidisciplinary Collaboration Process for  Green Growth That Works: Natural Capital Policy and Finance Mechanisms From Around The World.

• Key Concepts: Natural Capital and Ecosystem Services.

• Natural Capital and Policy Mechanisms and Case Studies:

  • Government Subsidy Mechanisms: Watershed Conservation for New York City.

  • Regulatory Driven Mitigation: Stormwater Retention Credit Program in Washington D.C.

  • Voluntary Conservation: Amazon Region Protected Areas Program.

  • Market-Driven Transactions

    • Ecosystem Certifications: Coffee Products and Eco-Tourism

    • Impact Investing: Environmental Impact Bond from Washington D.C.

• Ongoing Global Project: People, Planet, Prosperity: Mainstreaming Nature in Policy & Investment Decisions

  • Recent Milestone: Launch of Pacific Natural Capital Fund with initial $15m from Global Environment Facility and Asian Development Bank.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 29th November 2023.

Alicia Seiger - Managing Director of Stanford University’s Sustainable Finance Initiative

Purchase the Climate Finance Course at www.climatefinancecourse.com

Alicia Seiger is a Managing Director of Stanford University’s Sustainable Finance Initiative at Precourt Institute for Energy and a Managing Director of Stanford Steyer-Taylor Center for Energy, Policy, and Finance. She conducts her teaching and research activities at Stanford Law School, Stanford MBA program, and the Stanford Doerr School of Sustainability.

Alicia Seiger is a Board Member of Ceres and Prime Coalition. She is also a Sustainability Advisory Council Member at Pacific Gas and Electric Company and an Advisory Board Member of the E-Liability Institute. She previously served as a Co-Chair of the State of California Climate-related Risk Disclosure Advisory Group and a New York State Decarbonisation Advisory Panel member.

She started her Climate Career as the first employee at TerraPass - a startup that provided corporations with carbon-offsetting products. Prior to her Climate Career transition, she authored 22 case studies at the Stanford Center for Entrepreneurial Studies and held Executive Business Development roles at Flycast Communications and Wine.com.

Alicia Seiger has a dual bachelor’s degree in Environmental Policy and Cultural Anthropology from Duke University and an MBA from Stanford Graduate School of Business.

Check out the Climate Finance Podcast Website for more information.

Topics discussed:

• Alicia’s intellectual climate journey from creating her own bachelor’s degree at Duke to studying Business and writing Case Studies at Stanford GSB.

• Alicia’s Cleantech 1.0 Entrepreneurship with TerraPass - Carbon Offsetting Startup (Stanford GSB Case Study).

• Launching a Consulting Firm focused on Climate Philanthropy.

• Returning Back to Stanford as a Managing Director of Stanford Steyer-Taylor Center for Energy, Policy, and Finance and a Lecturer at the Stanford Law School.

• Studying how Federal and State-level Clean Energy Incentives can be leveraged with Impact Investing.

• The evolution from the “Aligned Intermediary” concept to Prime Coalition and Azolla Ventures.

• Designing the “Investing in a New Climate” Workshops.

• Establishing the Sustainable Finance Initiative with Thomas Heller.

  • Initial Founding Document and Eventual Changes.

• Co-Editing the Book: “Settling Climate Accounts: Navigating the Road to Net Zero.”

• Alicia’s Contributions to Government Policymaking:

  • Serving on the first-ever Decarbonization Advisory Panel for the $209 billion New York State Common Retirement Fund.

  • Co-Chair of the State of California Climate-related Risk Disclosure Advisory Group.

  • Sustainability Advisory Council Member at Pacific Gas and Electric Company.

• Thoughts on SEC ESG and Climate Risk Disclosures:

  • Written Testimony to the U.S. House of Representatives.

  • ImpactAlpha: How the SEC’s rules will – and won’t – solve climate change.

• Emissions Liability Management

  • What’s Next After Carbon Accounting? Emissions Liability Management

• Closing questions: Advice to future Climate Investors, Entrepreneurs, and Policymakers.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 18th July 2023.

Daniel Esty - Professor at Yale Law School and School of Environment; Creator of the Connecticut Green Bank

Purchase the Climate Finance Course at www.climatefinancecourse.com

Daniel Esty is the Hillhouse Professor at Yale University’s Environment,  Law, and Management Schools. He also serves as director of the Yale Center for Environmental Law and Policy, co-director of the Yale Initiative on Sustainable Finance, and serves on the Advisory Board of the Yale Center for Business and the Environment, which he founded in 2007.

Professor Esty is the author or editor of 14 books and 150+ articles on environmental protection, regulatory reform, energy policy, and sustainability and their connections to corporate strategy, competitiveness, trade, and economic success.

Prior to his academic career, he earned his Juris Doctor from Yale Law School and his B.A. in Economics from Harvard University. He was also a Rhodes Scholar at the University of Oxford.

Check out the Climate Finance Podcast Website for more information.

Topics discussed:

• Harvard Undergrad Thesis with Dr. Richard Caves: Exploring the Relationship between Economic Power and Political Influence.

• Yale Law School: Learning about Environmental Issues and International Trade.

• International Environmental Pro-Bono Cases at Arnold & Porter that Shaped Daniel Esty’s Career Trajectory.

• Joining the U.S. Environmental Protection Agency as Special Assistant to William Reilley in 1989 to Negotiating the United Nations Framework Convention on Climate Change in 1992.

• Rio 1992 Earth Summit: “Success Versus Real Success.”

• Publishing his first book: Greening the GATT: Trade, Environment, and the Future (1994), with support from the Peterson Institute for International Economics and the Council on Foreign Relations.

• Early Research Publications with Michael Porter:

  • Industrial Ecology and Competitiveness: Strategic Implications for the firm (1998).

  • National Environmental Performance: An Empirical Analysis of Policy Results and  Determinants (2005).

• Establishing the Environmental Performance Index in 2002 and maintaining the EPI for over two decades.

• “Green to Gold” Book Publications (2006-11):

  • Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage with Andrew Winston (2006).

  • The Green to Gold Business Playbook: How to Implement Sustainability Practices for Bottom-Line Results in Every Business Function with P.J. Simmons (2011).

• Daniel Esty’s Accomplishments as the Commissioner of Connecticut’s Department of Energy and Environmental Protection (2011-14).

  • Regulatory Transformation at CT DEEP.

  • Formulating and Launching the United States First-ever Green Bank.

  • Success of the Green Bank: Mobilized $1 billion in Clean Energy Investments by 2015, and the Green Bank Concept spread around the U.S. and the World.

• Recent Book Publications:

  • A Better Planet: 40 Big Ideas for a Sustainable Future (2019)

    • Special Essay: From Red Lights to Green Lights.

  • Values at Work: Sustainable Investing and ESG Reporting with Todd Cort (2020)

    • Special Essays: Creating Next-Generation and Investment-Grade Corporate Sustainability Metrics.

  • Advanced Introduction to U.S. Environmental Law with Donald Elliot (2021)

• Ongoing Work at the World Trade Organization with Dr. Ngozi Okonjo-Iweala (WTO Director-General).

• Co-founding The Remaking the Global Trading System for a Sustainable Future Project (Greening Global Trade).

• Daniel Esty’s Advice to Listeners: Commitment to Ideas and Action.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 29th August 2023.

Gernot Wagner - Climate Economist at Columbia Business School

Purchase the Climate Finance Course at www.climatefinancecourse.com

Dr. Gernot Wagner is a Climate Economist at Columbia Business School.

He is the author of Geoengineering: The Gamble (2021), Climate Shock: The Economic Consequences of a Hotter Planet (2016; Co-Authored with Dr. Martin Weitzman), and But Will the Planet Notice?: How Smart Economics Can Save the World (2012).

Previously, Dr. Wagner was a Clinical Associate Professor at New York University and the Founding Co-Director of Harvard University's Solar Geoengineering Research Program. He started off his career as a Fellow at the Financial Times, a Consultant at Boston Consulting Group, and a Lead Senior Economist at the Environmental Defense Fund.

Dr. Wagner received an Economics Master's Degree from Stanford University, and a Bachelor's degree in Environmental Science/Policy, and a Ph.D. in Political Economy and Government from Harvard University.

Check out the Climate Finance Podcast Website for more information.

Topics discussed:

• Importance of mentorship: The impact of Dr. Martin Weitzman on Gernot Wagner`s evolution in Climate Economics.

• Gernot’s Doctoral Dissertation emphasis on Green Accounting.

• How Gernot’s work at the EDF allowed him to co-author the World Bank’s Emissions Trading in Practice: A Handbook on Design and Implementation.

• Gernot’s first book: But Will the Planet Notice?: How Smart Economics Can Save the World.

• Gernot’s second book (with Dr. Weitzman): Climate Shock: The Economic Consequences of a Hotter Planet.

• The process of co-founding Harvard University's Solar Geoengineering Research Program.

• Gernot’s third book: Geoengineering: The Gamble.

  • Concepts: Green Moral Hazards, Free-Rider Effects, and Free-Driver Effects.

  • Financial Requirements for Geoengineering Research and Deployment.

• Why It’s Too Late for Big Oil’s Pivot to a Carbon Tax?

• Greeninflationism and the European Union’s response to the United States Inflation Reduction Act.

• The Climate G2: India and China.

• Gernot’s Advice to Aspiring Climate and Environmental Economists.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 12th July 2023.

Todd Cort - Yale University’s Initiative on Sustainable Finance

Purchase the Climate Finance Course at www.climatefinancecourse.com

Dr. Todd Cort holds Faculty Co-Director positions at the Yale Center for Business and the Environment and the Yale Initiative on Sustainable Finance, which are located in the Yale School of Management and Yale School of Environment.

Todd Cort is the co-editor of two books: Values at Work: Sustainable Investing and ESG Reporting (2020) with Dan Esty, and Sustainable Innovation and Impact (2018) with Cary Krosinsky.
 
Prior to his research and teaching career, he worked as an Environmental Engineering and Sustainability consultant with TUV Rheinland and Det Norske Veritas in California and was a Post-Doctoral Researcher and Assistant Research Professor at the Colorado School of Mines.

Dr. Cort received his Ph.D. in Civil and Environmental Engineering and an MS in Organic and Biochemistry from the University of Colorado Boulder and a BS in Biochemistry and Cell Biology from the University of California San Diego.

Check out the Climate Finance Podcast Website for more information.

 

Topics discussed:

• Todd’s two main transitions across his climate journey:

  • Intellectual Transition: From Biochemistry and Civil Engineering to ESG and Sustainable Finance.

  • Professional Transitions between Consulting and Academia.

• Process of establishing Yale University's Initiative on Sustainable Finance with Daniel Esty.

• Exploring how to Incentivize the direction of multi-capital toward inclusive capitalism.

• Working on two books with Cary Krosinsky: Sustainable Innovation and Impact (2018) and Sustainable Investing: Revolutions in Theory and Practice (2016).

• Five Sustainable Investment Strategies:

  • Sustainable Alpha Investors

  • Smart Beta Investors

  • Activist Investors

  • Impact Investors

  • Screening Investors

• Producing “Values at Work: Sustainable Investing and ESG Reporting” with Daniel Esty in 2020.

• Shortcomings of ESG Performance Data especially ESG Risks dependent on Management Quality Control.

• Illustrative Case Studies on ESG Risks regarding Management Quality Control:

  • BP and the Deepwater Horizon Oil spill (2010).

  • Volkswagen Scandal: Dieselgate (2015).

  • Pacific Gas & Electric and Californian Wildfires (2019).

• Proposed Solutions to improve ESG Data, Metrics, and Standards.

• Balanced View on the Future of ESG:

  • Negative Perspectives:

    • Political Backlash against ESG Investing.

    • Avoiding Greenwashing Pitfalls.

    • How the Tools of Impact Investing Can Undermine Resilience in the Global South.

  • Positive Perspectives:

    • Better Data is Letting Companies and Investors See Trillions in Climate Risk.

    • The Pragmatist’s Guide to ESG.

• Brief Overview of Non-Research Engagements

  • Teaching the Executive Education Programs on Sustainable Finance and Corporate Sustainability.

  • Advisory and Consulting Engagements with Private Companies such as Merck, Third Economy, ArcelorMittal, Chevron, and Walt Disney Company.

  • Advisory Boards of Investment Firms:

    • JUST Capital, Scientific Advisory Board.

    • Azolla Ventures, Impact Advisory Committee, and PRIME Coalition, Academic Advisory Board.

  • Board of Directors of GRASFI: Global Research Alliance for Sustainable Finance and Investing.

• Advice to (Aspiring) ESG Academics and Practitioners.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 15th August 2023.

Vikram Gandhi - Academic and Investor at Harvard Business School, Asha Ventures, and Growth for Good SPAC

Purchase the Climate Finance Course at www.climatefinancecourse.com

Vikram Gandhi is a Professor at Harvard Business School, where he co-pioneered their Sustainable Investing Course, “Investing: Risk, Return & Impact.” The course won the 2021 Teaching Recognition Award for Excellence in Sustainable Finance Education from the Financial Times. He is also a Visiting Faculty member at Tsinghua University.

Vikram Gandhi is a Founding Partner at Asha Ventures, an Indian-focused impact investment fund, and a Senior Advisor to The Canada Pension Plan Investment Board. He is the Chairman of the Board of the Growth for Good Acquisition Corporation, a Climate Tech SPAC, which recently merged with ZeroNox, a leader in commercial and industrial vehicle electrification.

Prior to his teaching and investing endeavors, Vikram Gandhi was a Global Investment Banking executive for 25 years with Morgan Stanley and Credit Suisse. He graduated from the University of Mumbai and Harvard Business School as a Baker Scholar. He is also a Chartered Accountant.

Check out the Climate Finance Podcast website for more information.

Topics discussed:

• Vikram’s career transition from being a Global Investment Banking Executive to teaching at Harvard Business School and initiating Climate Venture Investment firms.

• The process of an alumnus coming back to Harvard Business School as a faculty member and collaborating with Shawn Cole and George Seraphim to create an award-winning course.

• Growth Drivers of Sustainable and Impact Investing.

• Teaching Case Studies at Harvard Business School:

  • Investment Banks

    • Goldman Sachs: Making an Imprint in Impact Investing

    • Morgan Stanley: Building Long-Term Sustainability

  • Private Equity

    • The Rise Fund: TPG Bets Big on Impact

  • Public Markets

    • Generation Investment Management

    • Public Equities Impact Investing at BlackRock

    • State Street—The Development and Growth of SHE

  • Engagement and Activism

    • Engine No.1: An Impact Investing Firm Engages with ExxonMobil

    • JANA Partners: Impact through Activism?

    • CalSTRS Takes on Gun Violence

  • Corporate Finance

    • TotalEnergies CVC Investment in Hyzon Motors

    • The Ford Motor Company Green Bond

• Vikram´s Investment and Entrepreneurial Engagements

  • Asha Impact Ventures

  • Growth for Good Acquisition Corp - Sustainability SPAC

• Impact Investing Potential in India (Bullish India)

• Personal Advice to Investors, Young Professionals, and Students interested in Climate and Sustainable Finance and Investing.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 1st June 2023.

Bruce Usher - Professor at Columbia Business School and Author of Investing in the Era of Climate Change

Purchase the Climate Finance Course at www.climatefinancecourse.com

Bruce Usher is a Professor at Columbia Business School, teaching the intersection between finance, social, and environmental issues. 

He is the author of “Investing in the Era of Climate Change” (2022) and “Renewable Energy: A Primer for the Twenty-First Century” (2019). Apart from his teaching and research activities, he is an advisor and investor in multiple Climate Tech startups and investment funds.

Before transitioning to academia, he studied at Harvard Business School and Queen's University, worked in financial services for 12 years in New York and Tokyo, and was the CEO of EcoSecurities Group, a developer of GHG reduction projects in developing countries - which JP Morgan acquired in 2009.

Check out the Climate Finance Podcast website for more information.

Topics discussed:

• Bruce’s two main career transitions:

  • From developing structured financial products for American and Japanese institutional investors to becoming the CEO of EcoSecurities Group and focusing on CDR projects in developing countries.

  • Eventually transitioning to Columbia Business School (Executive in Residence & Professor of Practice),  and being an author, investor, and advisor.

• Publishing his first book “Renewable Energy: A Primer for the Twenty-First Century” in 2019.

• Focus on Bruce’s second book “Investing in the Era of Climate Change,” published in 2022.

• Five Climate Investment Strategies:

  • Risk Mitigation

  • Divestment

  • ESG Investing

  • Thematic Impact Investing

  • Impact First Investing

• Case Studies on New Climate Investors:

  • Corporate Venture Capital Firms

  • Private Equity Clean Infrastructure Funds

• Challenges with Public Equities

  • Assessing Net Zero Pledges of Public Companies

  • Picking Winners - Incumbents Versus Disrupters

• Perspectives on Government Policies:

  • Inflation Reduction Act

  • Carbon Pricing

• Personal Advice to Prospective Investors and the Next Generation of Climate Professionals.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 4th April 2023.

Simmi Sareen - State of Indian Climate Finance - Co-Founder of Climake and Director at Unitus Investment Bank

Purchase the Climate Finance Course at www.climatefinancecourse.com

Simmi Sareen is the Director of Unitus Capital, an Indian Impact-focused Investment Bank. She is the Co-Founder of Climake, along with Shravan Shankar, a Climate Venture Studio supporting the growth of Early-Stage Indian startups. Climake publishes an annual report on the “State of Climate Finance in India.”

Simmi Sareen previously founded fintech platforms, Loans4SME and GreenFunder, focusing on venture debt, asset finance, and working capital loans to social enterprises, MSMEs, and startups in India.

Prior to her Climate and Impact Career transition, Simmi was a Vice-President and Head of Research at Morgan Stanley, focused on Structured Finance and Credit Derivatives, and was the Head of Risk of Grameen Impact India. She is a Chartered Accountant and was a Sloan Fellow at London Business School.

Check out the Climate Finance Podcast website for more information.

Topics discussed:

• Simmi’s career evolution from working at a Bulge-Bracket Investment Bank to focusing on Climate Finance and Social Impact in India.

• Process and reasoning behind launching Climake and emphasizing on data-driven research and pilot programs.

• Climake’s 2023 Edition of “State of Climate Finance in India” report.

• India’s Short-Term (Peak Emissions in 2030) and Long-Term (2070) Decarbonization Targets.

• India requires USD $1 Trillion by 2030 - $120 Billion of Annual Investments - to reach its 2030 target.

• Breakdown of USD $22.5 Billion in Indian Climate Tech Investments in 2022.

• Investment Opportunities in Indian Climate Tech:

  • Renewable Energy.

  • Electric Mobility.

  • Lithium-Ion Battery Cell Manufacturing.

  • Agriculture Technology.

  • Waste Management and Circularity.

  • Climate Adaptation Solutions (Water, Heating, and Cooling).

  • Industrial Decarbonization Solutions.

• India’s Climate Finance Landscape:

  • Publicly-Listed Climate Tech Companies.

  • Universe and Segmentation of Climate Equity Investors.

  • Local Debt and Non-Dilutive Financing Ecosystem.

• Pilot Program currently in progress at Climake:

  • Climate Asset Financing Facility.

  • Climate Venture Studio.

• Simmi’s advice to Investors (Survey) and Young Entrepreneurs interested in the Indian Climate Tech and Finance Sector.

• Subscribe to Climake’s Substack Newsletter for the latest insights.

Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 3rd May 2023.