Climate Finance Podcast

Purchase the Climate Finance Course at www.climatefinancecourse.comShivaram 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comDr. 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comAlicia 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comDaniel 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comDr. 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comDr. 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comVikram 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comBruce 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comSimmi 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.

Purchase the Climate Finance Course at www.climatefinancecourse.comFiona Reynolds was the CEO of the United Nations Principles for Responsible Investment (UN PRI) from 2013 to 2021. The UN PRI was created in 2006 to promote the incorporation of ESG Factors (Environmental, Social, and Corporate Governance) into investment decision-making. It currently has 4900+ signatories (Asset Owners and Investment Management Firms) representing $120+ Trillion in AUM (Assets Under Management) in over 80 countries.Prior to UN PRI, Fiona Reynolds was the CEO of the Australian Institute of Superannuation Trustees, a non-profit organization representing Australia’s $1.6 trillion profit-to-member superannuation industry. She previously studied Public Policy at Deakin University. Check out the Climate Finance Podcast website for more information. Topics discussed: Fiona’s career progression from the Australian Institute of Superannuation Trustees to the UN PRI. Origins and Early Days of UN PRI as an organization. Creation of the Six Principles and Growth in Signatories. Evolution in Responsible Investment and ESG Integration. Fiona’s Leadership Challenges and Collective Accomplishments at UN PRI. Role of Public Policy in ESG: Inevitable Policy Response (IPR). Case Studies on ESG: Proxy Battle between Engine No. 1 and Exxon Mobil. Brumadinho Disaster with Brazilian Mining Giant, Vale. Rio Tinto blasting 46,000-year old Aboriginal Site. UN PRI Initiatives on Climate Change (E of ESG): Montreal Carbon Pledge in 2014 (Measure & Disclose Carbon Footprint of Investment Portfolio). Climate Action 100+ (Shareholder Engagement during Proxy Season). Focus on S of ESG: Human Rights Issues such as Modern Slavery and Human Trafficking. Special Focus on the Role/Importance of Women in ESG Progression (for International Women’s Day on March 8th) Notable Female Advocates on ESG: Louise Davidson, CEO of the Australian Council of Superannuation Investors. Sharan Burrow, Former General Secretary of the International Trade Union Congress. Sagarika Chatterjee, Leader of GFANZ (Glasgow Finance Alliance on Net Zero). Maria Lettini, CEO of FAIRR Initiative and US SIF: Forum for Sustainable and Responsible Investment. Fiona Reynolds’ Current Advisory Engagement Portfolio: Advisory Roles at Quinbrook Infrastructure Partners, Affirmative Investment Management (Fixed Income), and UNSW Australian Human Rights Institute. Chair of UN Global Compact Network Australia and Qualitas Group (Real Estate Investing). Director Roles at the Australian Sustainable Finance Institute and Frontier Advisors (Institutional Investor Advisor). Advice to future generations on meaningful careers in ESG and Sustainable Finance. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 8th March 2023.

Purchase the Climate Finance Course at www.climatefinancecourse.comMarilyn Waite is the Managing Director of the Climate Finance Fund and a Venture Partner at Aera Venture Capital. She is the author of Sustainability at Work: Careers that make a difference (2016), an Editor at GreenBiz, and a host of the China CleanTech Podcast with New Energy Nexus.Prior to Climate Finance Fund, Marilyn was the Climate and Clean Energy Finance Program Officer at William and Flora Hewlett Foundation, a Strategy Executive at AREVA (Nuclear Power and Renewable Energy) in Paris, France, a Senior Research Fellow at Project Drawdown, an Energy Lead at Village Capital, and a Science and Tech Policy Fellow at the U.S. National Academies of Science, Engineering, and Medicine. She previously studied Civil and Environmental Engineering at Princeton University, worked as a World Food Programme Fellow in Southern Madagascar, and obtained her MSc in Engineering for Sustainable Development from University of Cambridge. Check out the Climate Finance Podcast website for more information. Topics discussed: Marilyn’s climate journey / sustainable career transitions from working in Madagascar, China, and France to working in Philanthropy, Sustainable finance, and Venture capital. Eureka moment: How Marilyn’s experience with unreliable electricity in Madagascar and corporate R&D strategies in France shaped her focus towards mobilising capital for Climate and Clean Energy solutions. William & Flora Hewlett Foundation’s Climate Finance Strategy 2018-23. Implications of Passive Asset Management on ESG, Decarbonisation, and incorporation of Climate Risks and Impacts. Unrealised potential of deposits ($100+ trillion globally) at Credit Unions (Community Financial Institutions) and Retail Banks to fight climate change. Global expansion of Partnership for Carbon Accounting Financials (PCAF). Case Study: Clean Energy Credit Union - An American Credit Union providing affordable consumer loans for clean energy products and services. The role of Venture Capital in enabling Climate and Clean Energy solutions. European Union - Complex Finance and Climate Policy Landscape. Climate Policies and Actions in the United States (Check out Marilyn’s testimony to the U.S Senate Committee on Finance, Housing, and Urban Affairs and Marilyn’s response to Public Input on Climate Change Disclosures to the SEC). Policy Innovation in China - Pilot Zones and Central Bank Green Lending (Check out S2E7 and S3E1 on the China CleanTech Podcast). Diversity Imperative in Climate Investment Management Diversity Initiative Case study: VC Include Fellowship. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 21st February 2022.

Purchase the Climate Finance Course at www.climatefinancecourse.comAlexandra Wright-Gladstein is the Founder and CEO of Sphere. Sphere is a public benefit corporation that is amplifying a social movement to get 401(k) retirement savings money out of fossil fuel companies. Sphere has two ‘first of its kind’ products: i) Sphere 500 Fossil Fuel Free Index (SPFFXI) which tracks the S&P500 excluding the fossil fuel companies, and ii) Sphere 500 Fossil Fuel Mutual Fund which tracks SPFFXI.Prior to Sphere, Alex co-founded Ayar Labs, a tech startup that produces power efficient optical input-output solutions, in 2015. Ayar Labs has raised over $60 million from the likes of Founders Fund, Intel Capital, and Lockheed Martin Ventures. She previously studied Economics and Political Science at Tufts University, worked at Enel X North America, and obtained her MBA from Massachusetts Institute of Technology.Check out the Climate Finance Podcast website for more information. Topics discussed: Alexandra’s climate journey from working in the energy sector and studying entrepreneurship / technology transfer to founding Ayar Labs and Sphere. Eureka moment: Alex enduring an arduous three year process to be able to offer her employees, at Ayar Labs, with fossil fuel free 401(k)s. Brief overview of 401(k) plans. 79% of American employees have access to a 401(k) plan. Pain point 1: 82% of Americans believe in Climate Change and 70-80% are not happy or aware that their retirement savings are invested in fossil fuel companies. Pain point 2: 99% of Americans have on average $6000 invested in fossil fuel companies and only 0.1% of 401(k) assets under management is sustainably invested. This is despite 33% of professionally managed AUM using sustainable investing strategies. Why Fossil Fuel Free Funds instead of ESG Funds? Main impediments for lack of sustainability integration in 401(k)s (Fear of lawsuits, regulatory roadblocks, pricing premium for ESG products, and preference for Mutual Funds). Regulatory support from the current presidential administration for ESG integration in 401(k)s. How Sphere’s Index and Mutual Fund solves these problems? Sphere Fossil Fuel Free Fund - Prospectus How can employees and HR managers join the Sphere Movement? VC Funding from Pale Blue Dot, Climate Capital, and other Angel Investors. As You Sow Foundation and Negative Screening Methods. ‘Nuts and Bolts’ partnerships for developing Mutual Funds and ETFs (Distributor, Fund Administrator, and Investment Advisor - Jason Britton at Reflection Asset Management). Closing question 1: Advice to Tech entrepreneurs who want to engage in (Climate) Finance entrepreneurship. Closing question 2: Advice to internal corporate sustainability change makers. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 4th January 2022.

Purchase the Climate Finance Course at www.climatefinancecourse.comCary Krosinsky (LinkedIn | Website) is the Co-Founder of the Sustainable Finance Institute and the Carbon Tracker Initiative. He has co-published seven books on sustainable finance and investing. Cary has undertaken teaching and research roles at several universities including Columbia University, Brown University, Yale University, Concordia University, New York University, and University of Maryland. He has consulted the likes of the UN Principles of Responsible Investing, KPMG, Robeco, and UN Environment Programme. Cary was recently a Sustainability Advisor for the SPAC transaction of The Metals Company and a member of the New York State Common Retirement Fund Decarbonization Advisory Panel. He previously studied Computer Science at Hofstra University and was a Senior Vice President at S&P Global TruCost. Check out the Climate Finance Podcast website for more information. Topics discussed: Cary’s journey from working with big data for major institutional investors to researching and teaching Sustainable Finance. Early days of Sustainable Finance research (2007-08). Experience with co-Founding Carbon Tracker Initiative and publishing 1st book. The Long and Necessary Death of Socially Responsible Investing. Divestment versus Engagement. Evolutions in Sustainable Investing: Strategies, Funds, and Thought Leadership (2011). Examples of Prominent ETFs and Mutual Funds. Climate Tech VC Newsletter and SPACs. How Private Equity and Hedge Funds can delve into Sustainable Finance. Sustainable Real Estate: Multiple Approaches to an Evolving System (2019). The State of Sustainable Finance in the United States (2016). Overview of the Sustainable Finance Institute. Certified Sustainable Finance Analyst (CSFA) Program. Importance of Asia in the future of Sustainable Finance. Modern China: Financial Cooperation for Solving Sustainability Challenges (2020). U.S. - China Climate Finance Relations. Thoughts about COP26: Success or Failure? The COP process in broken - How can we fix it? Closing question: Advice to Academics and Youth interested in Sustainable Finance. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 1st December 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comSean Kidney is the Co-Founder and CEO of Climate Bonds Initiative (CBI). CBI is an international investor focused NGO working to mobilise global capital for climate action. CBI is the only organisation working solely on mobilising the $100 trillion bond market for climate change solutions. Sean Kidney studied at University of Sydney and he is currently a Professor of Practice at SOAS University of London. Check out the Climate Finance Podcast website for more information. Topics discussed: Sean’s journey from running several media ventures in Australia to focusing on global climate action. Origin story of Climate Bonds Initiative. Evolution of Green Bonds (Milestones). Projection of $5 trillion annual Green Bond issuance by 2025. Climate Bonds Standard and Certification. CBI’s Transition Finance Framework and Label (for Transforming Companies). Green Bond Pricing and Post Issuance Reporting. CBI’s Interactive Data Platform, Bond Library, Underwriters’ League Table, and Stock Exchanges with Green Bond Segments. Policy Areas for Green Bond Markets. CBI’s North America 2021 State of the Market report. CBI’s China 2020 Green Bond Market report. 12 Brilliant News from COP26. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 16th November 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comLindelwe Lesley Ndlovu is the CEO of the African Risk Capacity ‘‘ARC’’ Ltd. ARC Ltd is a specialist insurance company that provides parametric insurance coverage to African countries against extreme weather events and natural disasters. Prior to ARC, Lesley worked with AXA Group, AXIS Capital, and Deloitte in various senior management roles. Lesley is a graduate of Christ Church, University of Oxford in England and at the Institut Européen d’Administration des Affaires (INSEAD) in France. Lesley sits on the Board of Directors of the UN Environment Programme Finance Initiative for the Principles of Sustainable Insurance, and the Weather Risk Management Association, and he is a Non-Executive Director of PULA. He is a CFA charter holder, a member of the Institute of Chartered Accountants of England & Wales, and a member of the Institute of Directors.  Check out the Climate Finance Podcast website for more information.Topics discussed: Lesley’s journey from Zimbabwe, to working in Bermuda, London, Paris, and Singapore in the Hedge Fund and Reinsurance sector before moving back to Africa. Introduction of the African Risk Capacity and ARC’s two entities: African Risk Capacity Agency and ARC Limited (Ltd). Tools: Parametric Insurance, Catastrophe (Insurance-Linked) Bonds, Risk Pooling, Green Bonds, and Climate Adaptation Finance. ARC’s Country Engagement Process. Four Phases of ARC Capacity Building Programme. ARC’s Extreme Climate Facility (XCF). ARC Replica addressing the Humanitarian Funding Gap. ARC’s Outbreaks and Epidemics (O&E) Programme. ARC’s Impact and Risk Pools. ARC’s Gender Strategy with Disaster Risk Management. ARC Ltd 2020 Annual Report and 2025 (Inclusive) Growth Strategy. Lesley’s advice to Institutional Investors and Startups interested in Climate Risk Insurance in Africa. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 11th October 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comDelton Chen founded the Global Carbon Reward initiative in 2013. Delton is a qualified civil engineer and geo-hydrologist, and he holds a Ph.D. in engineering from the University of Queensland, Australia. Delton did his doctoral research on the hydrology of a coral cay in the Great Barrier Reef, and he has 20 years of combined experience in groundwater management, environmental impact assessment, geothermal energy and climate mitigation. Delton is a thought-leader in the development of public policies based on Central Bank Digital Currencies, and is a member of the Blockchain Climate Institute. Delton founded the “Global Carbon Reward” initiative to help reduce and remove carbon at the speed and scale that are needed to stabilize the climate and meet the 2015 Paris Agreement. Delton believes that the Global Carbon Reward can fill the funding gap for climate mitigation and help protect communities and ecosystems from the ravages of climate change and over-consumption.Check out the Climate Finance Podcast website for more information. Topics discussed: Introduction of the Global Carbon Reward (and Carbon Quantitative Easing). Modern Monetary Theory inspiration for ‘Ministry for the Future’ by Kim Stanley Robinson. Bloomberg articles and Wikipedia pages. Relevance to Modern Monetary Theory, Green Quantitative Easing, and Central Bank mandates moving towards Climate Change. Project phases of the Global Carbon Reward. Details about  the Carbon Currency. Pricing theory of the Carbon Currency. Governance and Implementation of the Global Carbon Reward. Weightings of the Global Carbon Reward Biophysical analysis for Monetary Policy (Living Systems Economy) How can you contribute to the Global Carbon Reward? Advice to STEM researchers who want carry out finance and economics research: ‘Using an epistemic way of thinking’. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 27th September 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comTiza Mafira is an Associate Director at the Climate Policy Initiative (CPI) and the founder of the Plastic Bag Diet Movement in Indonesia. Prior to working at the CPI, she studied at Harvard Law School and worked as a corporate lawyer. Climate Policy Initiative in Indonesia has 10 analysts and over 60 publications / articles, and works alongside several Indonesian government institutions to support the scaling up of innovative financing instruments.Note: We apologise for the minor sound quality issue between the first and fourth minute.Please check out the Climate Finance Podcast website for more information.  Topics discussed: Tiza’s journey from Environmental Law to Climate Finance and Policy. Climate Policy Initiative (in Indonesia) and the Global Innovation Lab for Climate Finance. Economic and financial risks related to Indonesia’s Coal sector. Optimising Indonesia’s Fiscal / Public Finance capacity with Private Investments. Potential of Municipal Green Bonds in Indonesia. Developing Guarantee Instruments to catalyse Renewable Energy Investments in Indonesia. Sustainability emphasis for Indonesian Village Funds. Business Models for Decentralised Renewable Energy Investments in Indonesia. How Indonesia can benefit from Voluntary Carbon Markets? State of Climate Adaptation Finance in Indonesia and the rest of world. Personal career advice for lawyers interested in Climate Finance and Policy. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 27th September 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comMark Tercek is the former CEO of The Nature Conservancy (TNC). Prior to his work at TNC, he was a partner and managing director at Goldman Sachs for 24 years. He is the author of the Washington Post bestselling book - Nature’s Fortune: How Business and Society Thrive by Investing in Nature. Mark advises corporations, investment funds and NGOs on ambitious environmental strategies that make business sense.  He also serves as a board member, investor  and advisor to startups focused on environmental problem solving.  Mark publishes a newsletter ("The Instigator") available on Substack.Check out the Climate Finance Podcast website for more information.   Topics discussed: Mark’s journey from teaching English in Japan, studying at Harvard Business School, and working at Goldman Sachs to moving to The Nature Conservancy. NatureVest - TNC’s internal investment bank / brokerage. KPIs for Conservation Finance (Stanford Natural Capital Project) What can Private Equity do? Biden Administration’s Infrastructure Plans Prospects for US-China Climate relations. Endowment Funds for Water (Ecuador and New York examples) Debt for Nature Swaps (Seychelles example) Biodiversity Financing Gap Climate Finance Philanthropy Voluntary Carbon Offsets How to increase capital flows from Institutional Investors? Considerations for Emerging / First time Climate Finance Fund Managers. Personal advice: ‘Your critics are your friends’. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 24th September 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comMatt Tilleard is the Co-Founder and Managing Partner of CrossBoundary. CrossBoundary is an investment firm that focuses on renewable energy investments in developing countries and fragile and conflict states. So far, CrossBoundary has advised in over $700m of closed transactions, and has a pipeline of commercial and industrial projects worth over $100m. CrossBoundary is also pioneering an open source infrastructure investing methodology for scaling mini grid implementation.Check out the Climate Finance Podcast website for more information   Topics discussed: Matt’s journey from an environmental science and law student in Australia to working in Afghanistan and co-founding CrossBoundary. Importance of context, humility, and using a bottom up  private sector approach in developing countries.  CrossBoundary’s localized talent recruiting strategy. Looking for opportunities through maximum disillusion mode. CrossBoundary’s research with IFC on investment flows into Fragile and Conflict states. CrossBoundary’s Investment Facilitation Revisited report How Crossboundary interacts with development finance institutions via blended finance structures. CrossBoundary Energy - Commercial and Industrial projects More than 600 million Africans lack access to electricity CrossBoundary Energy Access - Open Sourcing Infrastructure Investing for Mini Grids CrossBoundary Lab Publications Scaling-Up Investment for Economic Recovery and Jobs in Africa Personal life advice: Identifying purpose and combining it with intentional and deliberate work. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 27th August 2021.

Purchase the Climate Finance Course at www.climatefinancecourse.comMark van Baal is the Founder of Follow This. Follow This has over 7000 green shareholders and engages with oil and gas companies, such as Shell, Equinor, BP, and Chevron, via shareholder resolutions. The purpose of Follow This is to unite responsible shareholders and push Big Oil to go green by aligning to the Paris Climate targets. Check out the Climate Finance Podcast website for more information. Topics discussed: Mark’s journey from a mechanical engineering student to a journalist and a shareholder activist Founding and evolution of Follow This from 2015 onwards Initial struggles with filing shareholder resolutions  Lessons learnt from interacting with Shell and expansion towards other Big Oil giants.   Goldilocks Trojan Horse How shareholder resolutions and Big Oil climate strategy analysis are written.    Follow This framework - SATIE (Scope 3, Ambitions, Target, Investments, and Emissions).   Follow This collaboration with major institutional investors. Follow This on the IPCC AR6 WG1 report. How Big Oil can make or break the Paris agreement. How the youth perceive Big Oil leadership. Reflection on 2021 shareholder resolutions. Differences in shareholder resolution results between Europe and the United States.  How to become a green shareholder at Follow This? (Lowest price is 9 Euros for a BP share) Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 13th August 2021 and Jonas became a Follow This shareholder on 4th September 2021.