It’s a sad truth that many companies are struggling or failing to meet their sustainability targets. Sensitive to anti-ESG pressure, interest rates, and other macro factors, many are also holding back from making new commitments. Currently, less than 10% of the Fortune Global 500 has a net zero commitment in place.

Amidst this context, it's all the more important to shine a light on the companies that have made ambitious targets and that are working hard to achieve them.

IBM is one such company. They began disclosing their CO2 emissions 30 years ago, and since 2010, they’ve cut emissions by nearly 70%. That’s not to say their path is without challenges. They’ve made a big bet on AI, which of course drives up energy usage dramatically.

To understand IBM’s sustainability strategy and progress, I was pleased to sit down with IBM Chief Impact Officer Justina Nixon-Saintil. Justina is a member of NationSwell, the executive membership network where I work. We talked about Justina’s background and role, the main focus areas for sustainability at IBM, some of their successes and challenges, how AI factors into the mix, their sustainability accelerator program, and much more.

If you’re interested in how big companies think about the climate crisis and how they can make a difference, there’s a lot to enjoy this episode. Here we go.

• [3:23] Justina’s background & what led her to her current role at IBM
• [6:06] Justina’s role, responsibilities & things she’s thinking about everyday
• [8:59] The pillars & priorities of IBM's sustainability strategy
• [10:29] The approach to influencing those stakeholders
• [12:46] Challenges being faced and the gap between companies & their targets
• [14:36] Challenges in reaching your decarbonization goals
• [16:19] AI & sustainability
• [19:31] IBM Sustainability Accelerator: Focus areas & what’s new
• [22:44] Organizations that have joined the accelerator & how they’re benefiting
• [25:07] The struggles & challenges that organizations are facing
• [27:23] Other climate tech spaces where Justina sees an opportunity for AI
• [28:09] IBM SkillsBuild: About the program & priorities
• [32:25] Advice for addressing climate change & other environmental challenges today

• IBM Impact: Environment
• IBM Sustainability Accelerator
• IMB SkillsBuild

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Hedge funds aren’t exactly known for contributing to climate progress or other ESG goals for that matter. So I was surprised to learn about Corbin Capital, a firm that aims to leverage the activist strategies of hedge funds not just to generate market-exceeding returns for their clients, but to advance environmental and social objectives.

There are trillions of dollars invested in hedge funds that can make a difference in this all-hands-on-deck moment. So why not think about how hedge fund tools can help accelerate decarbonization and other environmental priorities?

To learn more about this opportunity and how Corbin Capital is pursuing it, I sat down with their Director of Sustainability Courtney Birnbaum. I learned a lot about hedge fund tactics, and the opportunity to invest in transition commodities, carbon markets and more. Lots to learn through this one – enjoy!

• [2:47] Courtney’s path to working on climate & sustainability
• [4:37] Corbin Capital & Courtney’s role there
• [7:59] What is a hedge fund & how is it different than other investment vehicles
• [9:23] The history of hedge funds & factors that have made them successful
• [11:27] Why today is a good moment for hedge fund investing
• [13:18] Uncertainty creating opportunities for hedge fund investing
• [15:31] Influencing transformational change through hedge funds
• [17:52] Examples of success stories
• [20:29] Thinking about criticisms around lack of transparency
• [22:13] What makes Corbin unique
• [23:19] Climate opportunities for Corbin investors & the impact they’re aiming to have
• [25:59] Litigation finance
• [27:23] How hedge funds can play a role in decarbonization
• [28:16] How hedge funds can play a role in the carbon markets & carbon credits
• [30:28] Short selling as a strategy for improving corporate sustainability
• [33:57] How do finance needs to change to better tackle today's climate crisis

• Corbin Capital

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We know we need to be investing trillions of dollars annually into the climate transition. Venture capital is just a small slice of the pie, but there’s simply no time to slow down its contribution to advancing climate solutions.

In 2023, however, climate tech venture funding dropped 30% to $32 billion. Whether this was a temporary slowdown caused by high interest rates and the macro environment, or the new normal, will make a big difference.

Recently, I’ve been thrilled to start hearing about funds that are closing new and significantly bigger rounds.

One such firm is Clean Energy Ventures. They just raised their second fund, which is three times the size of their first, and I was pleased to get to hear the details from Clean Energy Ventures’ Co-Founder and Managing Partner Temple Fennel. Temple’s been investing in climate tech since 2017 and has held fast to focusing on companies that can reduce emissions by multiple gigatons. In today’s conversation, we hear how Temple got started in climate tech investing and what he seeks in an investment. We hear about some of his portfolio companies, the changes he’s seeing in climate investing and much more. Lots to learn in this one – enjoy.

• [03:02] Temple’s path & how he decided to focus on climate investing
• [7:54] Clean Energy Ventures’ investment thesis & what makes them unique
• [11:38] Expectations, assumptions & surprises from the first fund
• [14:25] Rebound Technologies, their business potential & climate mitigation opportunity
• [17:40] Aqua Membranes & why Clean Energy Ventures invested
• [19:51] Other examples of what Clean Energy Ventures is interested in
• [23:03] The second fund & the focus this time around
• [25:52] The Simple Emission Reduction Calculator: Emissions reduction & the causality for financial return
• [27:33] The process of raising capital today
• [30:42] The current state of the capital market for climate
• [32:36] Change in SBTI rules around offsetting & talk on decarbonization mandates
• [34:49] What needs to happen to get company leadership onboard for making near-term commitments to technologies that will drive their decarbonization
• [36:11] How investors are acting differently & outlook
• [37:45] Other interesting investment areas with opportunity

• Clean Energy Ventures
• Rebound Technologies
• Aqua Membranes
• OXCCU
• Noon Energy
• Clean Energy Ventures’ Simple Emissions Reduction Calculator
• S2G Report: The Missing Middle: Capital Balances in the Energy Transition

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