Episodes

  • Activating Climate Capital at Scale: Conduit's Unconventional Playbook, Ep #136

    Activating Climate Capital at Scale: Conduit's Unconventional Playbook, Ep #136
    Jul 14 2026
    The climate transition will require trillions of dollars of investment, but many of the biggest opportunities still face structural financing barriers because our financial system was not designed for a challenge of this scale and complexity. As investors, entrepreneurs, and institutions work to accelerate the transition, there is a growing need for new financial models that can bridge those gaps and unlock capital more effectively.Today, we’re joined by Bob Zulkoski of Conduit Capital, a firm taking a very different approach to climate finance. Rather than building one big fund, Conduit is creating platforms designed to unlock private capital at scale — from financing energy-efficiency upgrades in commercial real estate, to launching climate-transition SPACs, to developing a new blended-finance vehicle aimed at helping impact investment managers bridge what Bob calls the “Pioneer Gap.” Bob calls the model radical collaboration, and the goal is not just to invest well, but to prove new models that others can replicate.On today’s episode, we cover:1:19 – Framing the Climate Finance Challenge and Introducing Bob Zulkoski2:34 – What Is Conduit Capital? Vision and Radical Collaboration3:48 – Replication as Theory of Change: Paving the Way for Competition5:23 – Business Model: Non‑Concessionary, Patient, Impact at Scale6:41 – Introducing Sustainable Credit Partners (SCP) and Mid‑Market CRE8:09 – The Retrofit Problem: Aging Buildings, Spiking Energy Costs, Brown Discount10:04 – SCP’s Lending Model: Easier, Cheaper, Faster for Borrowers11:34 – Underwriting + GreenGen Partnership and Education Role13:55 – SCP Traction: Origination Targets, Pipeline, Institutional Capital16:02 – Loan Sizes, Typical Collateral, and Brown Discount Mitigation16:48 – Three “Superpowers”: Market Familiarity, GreenGen + Climate First Bank, Moody’s19:53 – Who Else Should Do This? Scaling via Competition and Green CLOs22:48 – Introducing Climate Transition SPACs and Market Backdrop23:01 – Rethinking SPACs: Tool for Climate Transition and Valuation Gaps27:37 – First SPAC: Energy Transition Special Opportunities and Target Sectors29:48 – Why Regenerative Agriculture Belongs in Climate SPACs32:19 – Defining the Pioneer Gap vs. Missing Middle/Valley of Death35:30 – The Pioneer Gap Impact Platform Fund and Alliance Structure37:50 – Blended Finance Stack: Catalytic, Mezzanine, and Market Capital39:08 – Why This Is the “Best of Times” for Climate Investing41:40 – Closing ReflectionsResources MentionedSustainable Credit Partners (SCP)GreenGenMoody’s Investors Service Climate First BankC‑PACE (Commercial Property Assessed Clean Energy) Climate Transition Special Opportunities SPACSpring Lane CapitalPioneer Gap Alliance & Pioneer Gap Impact Platform Fund Connect with usBob ZulkoskiJason RissmanKeep up with Invested In ClimateSign up for our NewsletterSubscribe for our Other Future NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    42 mins
  • From Climate Breakthrough to Scale with Skyline Foundation, LabStart & New Energy Nexus, Ep #135

    From Climate Breakthrough to Scale with Skyline Foundation, LabStart & New Energy Nexus, Ep #135
    Jun 23 2026
    Climate philanthropy does far more than fund advocacy and conservation—it bridges critical funding gaps for breakthrough technologies that traditional, financially driven investors often overlook. In this special episode, we continue our ongoing Climate Philanthropy series in partnership with the Skyline Foundation to explore how non-profit support accelerates the climate tech pipeline.Shereen D’Souza (Climate Solutions Portfolio Lead at Skyline Foundation) sits down with two powerhouse CEOs from her grantee portfolio, Deepa Lounsbury of LabStart and Andrew Chang of New Energy Nexus, to discuss what it really takes to move climate innovation from a university lab to global deployment.Why This Episode MattersBringing a "hard tech" climate startup from initial lab concept to commercial scale takes an average of 10 years, and every single step of that journey faces a unique "valley of death." Because scaled deployment looks drastically different depending on the geography, supporting entrepreneurs requires a highly specialized ecosystem.This conversation highlights how philanthropy strategically funds distinct, critical phases of the lab-to-market pipeline to scale viable climate solutions faster.On today’s episode, we cover:0:58 – Why climate philanthropy & Skyline partnership3:35 – LabStart vs. New Energy Nexus focus4:09 – Guest intros: Deepa (LabStart) & Andrew (New Energy Nexus)4:46 – Deepa’s background in climate, VC, and CalSEED6:20 – What LabStart does & “deep climate tech” focus8:02 – Andrew’s overview of New Energy Nexus global model9:43 – Programs: bootcamps, grants, CalSEED, and global south focus11:16 – What it looks like to be a New Energy Nexus entrepreneur11:54 – Philippines rooftop solar opportunity: Solar Innovation Program12:48 – Pakistan rooftop solar boom and Climate Innovation Pakistan13:40 – CalSEED structure and impact in California13:58 – What it looks like to be a LabStart entrepreneur14:55 – LabStart Discover and Launch phases15:54 – Why philanthropy is needed in climate tech innovation18:36 – Philanthropy in the global south and hyperlocal impact22:10 – LabStart success story: architect-turned-3D housing founder24:32 – Additional LabStart founders and outcomes25:25 – How much philanthropic capital is needed27:17 – IEA investment gap and catalytic examples from Indonesia29:43 – Why fund new technologies vs. only deployment32:06 – How country pathways shape New Energy Nexus engagement33:02 – California deployment example: ThermoShade33:58 – Indonesia fishermen & electric motorboats case: Volto Sea34:51 – Pakistan PakPlug EV charging app35:22 – What else the ecosystem needs: Andrew on subnational governments37:34 – What else the ecosystem needs: Deepa on IP & ecosystem gaps41:02 – Five-year vision & asks: Deepa and LabStart43:49 – Five-year vision & asks: Andrew and New Energy Nexus47:26 – Closing thanks from ShereenResources MentionedInvested in Climate: Climate Philanthropy seriesSkyline FoundationLabStartNew Energy NexusProject DrawdownJamil WyneCalSEED Solar Innovation ProgramClimate Innovation Pakistan CalTestBedAusTestbedThermoShade Swap Energy Xuraya Volto SeaPakPlug Schmidt Family Foundation Boundless EarthAtlassian Foundation California Energy Commission (CEC) New York State Energy Research and Development Authority (NYSERDA)Mubadala Investment Company (Abu Dhabi) Australian Renewable Energy Agency (ARENA)International Energy Agency (IEA)Elemental ImpactActivate Renewables FirstConnect with usShereen D’SouzaDeepa LounsburyAndrew ChangJason RissmanKeep up with Invested In ClimateSign up for our NewsletterSubscribe for our Other Future NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    48 mins
  • Investing in the Supply Chain behind Renewables with MUUS, Ep #134

    Investing in the Supply Chain behind Renewables with MUUS, Ep #134
    Jun 9 2026
    Today, we’re diving into a part of the climate transition that doesn’t get nearly as much attention as solar panels, electric vehicles, or AI: the materials, minerals, and manufacturing systems that make modern civilization possible. Steel alone accounts for roughly 7–8% of global greenhouse gas emissions, and the energy transition is driving unprecedented demand for critical minerals, advanced materials, and domestic manufacturing capacity. These sectors offer incredible investment opportunities, and that’s the focus of my guest, Kavita Patel. Kavita is a portfolio manager for venture investment for MUUS & Company (MUUS), the family office of TIGER 21 Founder and Chairman, Michael Sonnenfeldt, and his family.We discuss opportunities ranging from critical mineral recycling to next-generation building materials, what she’s learned investing through the ups and downs of climate tech, and why she believes some of the most compelling opportunities today may be hiding in sectors many investors overlook.We also explore where climate capital is flowing, where it may be underinvesting, and how investors can think rigorously about both financial returns and real-world climate impact.I learned a lot from this conversation, and I think you will too. Here we go. On today’s episode, we cover:01:12 – Introducing guest: Kavita Patel of MUUS & Company02:35 – Kavita’s background and path into climate investing05:24 – From BlackRock and ESG to climate venture07:19 – What is MUUS & Company? Climate thesis and focus areas09:35 – Why critical minerals, materials, and domestic manufacturing11:30 – Is materials & mining underhyped for investors? Market overview13:17 – Venture timelines in hardware and industrial innovation15:13 – Portfolio example #1: Nth Cycle’s critical minerals recycling18:28 – Mining’s environmental impact and why focus on recycling20:08 – Portfolio example #2: InventWood as a low‑carbon steel replacement22:53 – No green premium: solving top pain points in B2B climate tech23:03 – Where climate capital is flowing vs. where it should go25:22 – What Kavita has learned from founders through market cycles29:01 – Common fundraising pitfalls for climate founders32:20 – Building the capital stack: partners, family offices, and non‑dilutive capital35:15 – Measuring impact: MUUS’ use of the Crane tool38:16 – Closing thoughts Resources MentionedMUUS & Company (MUUS)TIGER 21Nth Cycle (critical minerals refining & recycling)Trafigura (metals & commodities trading group)InventWood (wood-based high‑performance material)CRANE – Carbon Reduction Assessment for New EnterprisesInternational Energy Agency (IEA)Connect with usKavita PatelJason RissmanKeep up with Invested In ClimateSign up for our NewsletterSubscribe for our Other Future NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    39 mins
  • The Abundance Playbook for Renewable Energy with GoodPower, Ep #133

    The Abundance Playbook for Renewable Energy with GoodPower, Ep #133
    May 5 2026
    Most people assume the main barrier to clean energy in America is technology or cost. Neither is true anymore. The sun is cheap. The wind is free. The turbines work. What doesn't work is the system we've built around them. Between 70 and 90 percent of renewable energy projects started in the US never reach construction. The ones that survive face a gauntlet of federal reviews, local ordinances, interconnection queues stretching years, and organized opposition campaigns funded by interests that don't want to see the grid change. We're talking about over 2,000 gigawatts of clean energy projects sitting in line waiting to plug into the grid — enough to power the country many times over.Today's guest is doing something about this problem. GoodPower is a nonprofit organization using research, strategic communications, campaigns, and even technology to accelerate the transition to renewable energy around the world. In this conversation, I’m joined by Leah Qusba, GoodPower’s CEO, who has been with the organization for almost 17 years. We spoke about GoodPower's history and evolution, its work in changing culture, building political power, accelerating an economy that works for all, and much more. Leah reflects a fast-growing school of thought — calling it the abundance mindset, after Derek Thompson and Ezra Klein's influential book — that sees future-forward infrastructure as the key to unlocking tremendous economic opportunity. It's a compelling, inspiring perspective that has spread quickly and is already driving real policy and investment. So buckle up and enjoy. On today’s episode, we cover:01:31 – Clean energy bottlenecks & introduction of GoodPower03:15 – Welcoming Leah Qusba04:03 – Founding story of Good Power (formerly ACE)04:44 – From youth education to campaigns and power-building05:31 – Why rebrand from Action for Climate Emergency to GoodPower05:49 – Moving from alarm to hope and economic opportunity07:11 – Core problem: speeding up an inevitable energy transition08:19 – Shift from “protecting environment” to building clean energy09:22 – Strategic plan overview & Pillar 1: shifting culture at scale09:44 – Operating in culture & early bet on the creator economy11:05 – Lessons from supporting climate-focused creators13:06 – Surprising creators: rural and agricultural influencers15:10 – Laying cultural groundwork and de‑politicizing renewables17:35 – Pillar 2: building political power in the U.S.19:13 – Climate as a voting issue vs. economic priorities21:52 – Mobilizing climate‑first nonvoters & social norms of voting24:46 – Pillar 3: building a “good economy for all”27:58 – Under the hood: siting and permitting campaigns31:05 – Beyond core pillars: funding models and nonprofit evolution33:15 – How listeners can help locally & post‑election accountabilityResources MentionedGoodPowerGoodPower Strategic PlanEnvironmental Voter Project (We featured CEO Nathaniel Stinnett on Ep #94!)Connect with usLeah QusbaJason RissmanKeep up with Invested In ClimateSign up for our Invested in Climate NewsletterSubscribe for our Other Future NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    36 mins
  • New Thinking for a New Era with Climate Capital Reset Project, Ep #132

    New Thinking for a New Era with Climate Capital Reset Project, Ep #132
    Apr 22 2026
    Whether or not we want to acknowledge it, we’re in a new era of climate investing. Unprecedented uncertainty, federal policy upheaval in the United States, repeated energy shocks from wars, inflation, high interest rates, a persisting liquidity crunch, the AI data center boom – much has happened, the game has changed and investors are thinking very differently about climate than they did just a few years ago. Three expert climate finance advisors who have worked in climate finance for decades set out to understand what has changed in climate investing. Dan Firger, Will Coleman, and Bill Tarr are highly respected thought leaders and strategic advisors working with large family offices, foundations and prominent climate investors. They teamed up and interviewed over 150 investors and experts to develop Climate Capital Reset Project, a detailed account of the new thinking defining this new era of climate investing. We spoke about the trends reshaping climate finance today, emerging dynamics, recommendations for capital allocators, considerations for philanthropists, and much more. Dan, Will, and Bill’s report will likely be one of the most influential pieces written on climate finance this year. It’s already the basis for closed-door consultations and convenings with prominent investors, and our conversation shed incredible light on the new paradigms already driving climate finance today. On today’s episode, we cover:03:01 – Guest Introductions & Backgrounds06:04 – Why the Climate Capital Reset Project Now?08:55 – Trend #1: Unprecedented Market Uncertainty11:13 – Trend #2: AI, Data Centers & the Grid13:23 – Trend #3: Liquidity Crunch & the Missing Middle15:42 – Trend #4: Narratives, Labels & Climate Messaging17:24 – How We Talk About Climate & Climate Investing19:37 – Theme: ‘Ruthless Pragmatism’ in Climate Capital24:00 – Shaping Winners Through Consolidation26:57 – Domestic vs. International: Who Captures the Upside?27:31 – Blended Finance: Misuse, Scarcity & Focus30:48 – Examples of Effective Blended Finance31:56 – Geographic Arbitrage & Emerging Markets34:37 – Corporates’ Role in Climate Tech & Scale38:05 – War in the Middle East, Energy Shocks & Resilience43:24 – New Investment Models & Insurance Innovation46:24 – Long-Duration, Asset-Heavy Climate Businesses48:43 – A Narrow Window for a Climate Capital Reset50:41 – What’s Next for the Climate Capital Reset Project51:41 – Closing & Call to ActionResources MentionedClimate Capital Reset ProjectBuilder’s VisionIntersect PowerLineage LogisticsDevoted Health Fervo EnergyFrontier Microsoft Carbon RemovalPJM Interconnection ERCOT (Electric Reliability Council of Texas) USAID (U.S. Agency for International Development)Bloomberg PhilanthropiesReGen VenturesMore Davidow Ventures (MDV)Connect with usDan FirgerWill ColemanBill TarrJason RissmanKeep up with Invested In ClimateSign up for our Newsletter (Other Future)LinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!Share ideas for our newsletter here!
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    52 mins
  • Reimagining Higher Ed for the Climate Era with Unity Environmental University, Ep #131

    Reimagining Higher Ed for the Climate Era with Unity Environmental University, Ep #131
    Mar 24 2026
    Education and our ability to respond to climate change are inexorably linked. Major international studies have shown that education is the single strongest predictor of whether or not someone is aware of climate change. In the US, while 74% of Americans support climate action, support is typically 10–20 points higher among those with a college education. It's not about perceptions on climate change; a more educated workforce is better able to innovate, accelerate the climate transition, and adapt in a less stable world – especially if that education builds climate resilient skills.One could almost imagine a university designed around this need – and that is exactly what the team at Unity Environmental University are building. Today, we're joined by Unity President Dr. Melik Khoury who is creating not just a new curriculum, but a new, more inclusive approach to higher ed. Dr. Khoury argues powerfully against the elitism that has underpinned our educational system and climate narratives. We spoke about his background, the role of education in addressing climate change, how Unity is different, and the influence it could have. Dr Khoury’s energy is contagious and we're sure he’ll get you thinking. Enjoy.On today’s episode, we cover:03:06 – Dr. Khoury’s upbringing in West Africa and awakening to environmental issues04:24 – Discovering the real impacts of resource exploitation06:01 – Choosing higher education transformation as the main lever08:32 – The core climate problem: beyond politics and single-issue framing09:04 – Climate as transdisciplinary: food, energy, people, commerce11:05 – History of Unity Environmental University13:07 – Transforming Unity’s model and unbundling education15:14 – New operational model and rethinking the faculty role15:23 – Scaling Unity and redefining what a university is19:42 – Preparing students to operate in complex, uncertain systems20:15 – Embedding climate and sustainability across the curriculum23:14 – AI’s challenge to traditional notions of knowledge and learning23:48 – What Unity is learning from its students and their needs28:14 – What success looks like for a climate-focused university28:30 – Influencing the broader higher-ed ecosystem31:47 – How AI is changing higher education and climate learning32:11 – Why Unity embraces rather than bans AI35:58 – Concrete AI experiments at Unity (UNA, tutors, automation)39:31 – Is climate momentum fading? Perception vs. reality39:57 – Climate’s “brand problem” and the real enemy: ignorance42:58 – Depoliticizing climate and making the economic case43:16 – How we broadly attack ignorance through education reform45:52 – Call for partners and funders to back scalable climate education45:52 – Closing thanks and episode wrap-upResources MentionedUnity Environmental UniversityConnect with usDr. Melik KhouryJason RissmanKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    47 mins
  • Creating Leaders for a Regenerative Economy with Work on Climate, Ep #130

    Creating Leaders for a Regenerative Economy with Work on Climate, Ep #130
    Mar 10 2026
    Imagine for a moment if economic activity made nature and society healthier. It’s a notion that at first might seem absurdly idealistic, and then when you think about it, maybe essential for our survival and thus perhaps what the goal of an economy should actually be. Welcome to the concept of regenerative economics. There’s a growing number of leading thinkers, organizations, policymakers, and even businesses fueling the regenerative movement. With AI and a new geopolitical order creating massive disruption, it’s an important time to consider bold visions for the future.Today, we’re joined by someone who’s both a bold visionary and practical implementer. Eugene Kirpichov left his dream job at Google in 2020 to found Work on Climate, a community that has now helped tens of thousands of people looking for ways to address climate change. Eugene sees communities as mindbogglingly effective for scaling impact. By helping people realize their potential as climate leaders, Work on Climate is harnessing the power of community to work towards a regenerative economy. Eugene is a guy of big ideas, who thinks about systems strategically and makes things happen. It was a blast talking to Eugene and we suspect you’ll enjoy the conversation as well. Here we go.On today’s episode, we cover:00:57 – Regenerative Economics & Introducing Eugene02:41 – Recent Encounters & Shared Community03:00 – Eugene’s Early Life in Russia & Tech Beginnings06:25 – Joining Google & Finding Eugene’s Niche08:47 – Eugene’s Climate Wake‑Up & Decision to Leave Google10:30 – Discovering the Climate Solutions Ecosystem12:56 – Founding Work on Climate14:18 – Community Power & Founder Success Stories from Work on Climate15:34 – How Work on Climate Operates & Is Funded17:36 – Eugene’s Shift: From Climate Jobs to Climate Leaders21:30 – Examples of Everyday Climate Leadership24:25 – Three Qualities of a Climate Leader26:33 – Rethinking the “Most Impactful Thing I Can Do”29:56 – Eugene’s Long‑Term Vision for Work on Climate33:02 – What a Regenerative Economy Is38:18 – How to Build a Regenerative Economy in Practice44:18 – AI as System Accelerator & Regenerative Tool48:15 – EPA Ruling, Shared Reality & Coordination51:32 – What Eugene Is Reading & Learning From55:07 – Call to Action for Funders & IndividualsResources MentionedWork on ClimateAn Inconvenient TruthAn Inconvenient Sequel: Truth to PowerWork for ClimateEigen RoboticsClimate Capital: Tom ChiRelationality: David JayPedagogy of the Oppressed: Paulo FreireImpact Networks: David EhrlichmanEugene’s article on the EPA rulingConnect with usEugene KirpichovJason RissmanKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    58 mins
  • Adding Rigor to Climate Finance with Robert Brown, Ep #129

    Adding Rigor to Climate Finance with Robert Brown, Ep #129
    Feb 24 2026
    Frequent listeners know we're always eager to learn about how climate investing needs to change to be more effective. With the attacks on ESG and a new political era, we’re clearly in a new chapter for climate investing and being intentional about the ingredients, language and goals of this new chapter is critical for delivering both solid returns and real impact.Rob Brown argues that its time to step back from overreach and inauthentic impact goals, and fuel this new chapter with rigor. Rob wears a couple of hats as Director of Climate Research at Resolution Investors and Chief Research Officer at Impact Evaluation Lab. In these roles, Rob bring his decades of investment experience using research and analysis to improve long term thinking, risk management and what he calls mission authenticity, or the ability to really deliver on the kind of impact one promises. Tune in for a deeply fascinating conversation about how climate investing is maturing and the work that still needs to be done for this new chapter. Enjoy.On today’s episode, we cover:02:41 – Rob’s career journey & love of solving problems05:17 – From Just Capital to Impact Evaluation Lab & Resolution Investors09:52 – How to tell serious impact investors from pretenders14:34 – Is rigor a cost center? Making the ROI case19:29 – A lightning history of sustainable investing23:14 – Why sustainable finance is “deeply stressed”27:08 – Climate investing as long‑term risk‑adjusted returns29:27 – Two key shifts: longer horizons & real tech expertise33:02 – Rigor, incentives, and how the field grows up36:45 – Why sustainable investing is the future of capital markets39:11 – Closing remarksResources MentionedResolution InvestorsImpact Evaluation Lab.Just CapitalAtlas Impact PartnersGeneration Investment ManagementConnect with usRob BrownJason RissmanKeep up with Invested In ClimateSign up for our NewsletterLinkedInInstagramIf you like what you hear, subscribe and rate to support the show! Have feedback or ideas for future episodes, events, or partnerships? Get in touch!
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    40 mins