Ellen Jackowski

What an exceptional #ClimateWeekNYC for activating green markets, and for fully introducing the Center for Green Market Activation (GMA) to the broader climate community. We founded GMA with the conviction that voluntary action has a critical role in value chain decarbonization, and that systems and approaches like book-and-claim and collective procurement will be crucial for companies to meet their ambitious climate goals. It was inspiring and energizing to see the interest in these tools and their power to jump start nascent markets for green goods and services in almost every corner of New York this year.  It's hard to pick highlights, but a few would be the fantastic, 500-person crowd at the inaugural Green Markets Day (thank you Bezos Earth Fund and J.P. Morgan), the launch of GMA’s chemicals program at a Center for Climate and Energy Solutions (C2ES) and Boston Consulting Group (BCG) event alongside Dow, LyondellBassell and Procter & Gamble, the Sustainable Aviation Buyers Alliance (SABA) Members and Friends event, a World Wildlife Fund panel with H&M, McDonald's and P&G on the importance of new green markets to reduce emissions in supply chains, and events with The Climate Pledge and the The Advanced and Indirect Mitigation (AIM) Platform. Earlier in the week, we were part of WBCSD – World Business Council for Sustainable Development’s exciting launch of a new center, the CDDA, that helps members gain a clearer understanding of opportunities to pool demand and direct low-carbon investments across value chains, and we were also honored to discuss decarbonizing the cement and concrete sector at the Breakthrough Energy Clean Industrial Revolution event. The inspiring conversations hosted Thursday evening by The New York Times and L'Oréal focused on women and climate action were the perfect ending to the week. Decarbonization through market and sector transformation is simultaneously daunting, essential and absolutely possible. Our success in areas that were distant goals only a few years ago such as aviation, maritime and now heavy duty trucking is clear validation of GMA’s mission and the work that we do alongside partners such as RMI, Environmental Defense Fund, The Aspen Institute, Zero Emission Maritime Buyers Alliance (ZEMBA), Smart Freight Centre and others.  I am exceptionally proud of our team, including Andre de Fontaine, Kari Pederson, Dan Smith, Clayton Gerber, Sam Pearl Schwartz, Jackie Brew, Edmond Yi, Alex Coulombe, Holly Lahd (Welcome, Holly!), and the team members who supported from afar. Much work lies ahead and I look forward to tackling it together.

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New from Chirag Lala and me for the Center for Public Enterprise on the three-legged stool of the Greenhouse Gas Reduction Fund! In addition to achieving its crucial climate justice objective (leg 1), the fund is poised to deliver decarbonization (leg 2) and to do so by effectively using public capital to steer private (leg 3). We argue that green banks, analagous to other green industrial policy tools, work to unblock the "supply chain" of financial capital as an input to clean energy capex. https://t.co/KW8eFssh27 This is separate from my piece the week before last for Roosevelt Institute (also at Sabin Center for Climate Change Law) outlining a little history and the fundamental public policy logic underpinning this moment for American green banks, and their ability to bridge the gap between "hypothetically" and "actually" financeable climate solutions. https://lnkd.in/gArTdwBb https://lnkd.in/ggN89-Ri

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The outcomes of this year's COP in Baku were mixed; while some significant milestones were achieved, many issues remain unresolved. I wrote an article about the new climate finance target and a global carbon market that you can find here: https://lnkd.in/ecmzvTge Personally, it was an exceptional experience to attend this year's conference. Climate negotiation is about creating real economy outcomes and evolves quickly. That is why as investors we want to stay close to these international negotiations to assess potential investment implications. #climateinvesting #COP29 #sustainability

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How to provide a stable source of funding for urgently needed climate action? and what role does the voters have in legislation. This is Citizen- Governance 101. Have a read: This is not just a story from California, its every city's woeful journey. Bond funds are an appropriate and very effective way to fund many of the climate change-adaptation actions that many cities in USA are planning right now but don’t have local revenue sources to support. Think about it 'Even a short-term delay in adopting strong climate policies dramatically increases the cost of decarbonization and risks irreversible ecological impacts' #Howtounderwriteclimateresiliencyprojects #buildcommunityresilence #climatechange #voting #investinresilence #generationrestoration

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The Science Based Targets initiative (SBTi) has unveiled a raft of revisions and resources designed to help financial institutions set ambitious near-term emissions reduction targets. The changes to #SBTi criteria are set to come into force on 30 November 2024. Under the new criteria, financial firms with validated targets must align their operational and power emissions from a pathway aligned with "well-below" 2C of warming to one aligned with 1.5C of warming. They must also meet #Scope1 and #Scope2 emissions reduction targets in a five-to-10-year timeframe, down from the five-to-15-year window they were afforded previously, according to the SBTi. #Sustainability #ESG #NetZero #Climatetargets

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The Blended Capital Group is going deep for understanding on what we see as a critical multi-lateral development in scaling up climate finance. https://unfccc.int/NCQG This is really one to follow. https://lnkd.in/edGEJuk2 The work in Cartagena, Colombia 🇨🇴, in late April - May, lays the pathway for the success of UNFCCC UN #CoP29 - the Finance # CoP in Baku, Azerbaijan, in November 2024. This is the start of the granular aspects supporting the broader political framework for a shift from U$ billions to the U$ multi-trillions that I have been advocating since 1992 through my entrepreneurial, corporate, United Nations and policy roles. This is what the first UNFCCC UN Executive Director, the truly brilliant Michael Zammit Cutajar, envisaged through the 1997 Kyoto #CoP3 Flexible Mechanisms. Private financial markets are finally waking up as they see the potential of the U$ 25 trillion in climate finance and upside to be deployed-traded by 2050.

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Ara Partners was delighted to join the coalition of investors advancing the gold standard in measuring #decarbonization. The latest guidance on estimating #GHGemissions reduction impact is the result of consensus-driven collaboration - 22 months of work, involving 31 Content Working Group Members, 36 focus group participants, and external reviewers. Congratulations to the Project Frame core team and Prime Coalition on the release! Looking forward to the next year of collaboration at the Methodology Working Group with 2150, AENU, Allianz Global Investors, APG, Azolla Ventures, Boston Consulting Group (BCG), Bridges, Carbon 13, Carbon Equity, Ceres, Inc., Clean Energy Ventures, Climate Dividends, Climate Investments, Driftwood Climate, Energy Impact Partners, Emerald Technology Ventures, Energy Environment Investments, EQT Group, Future Energy Ventures, Galvanize Climate Solutions, Generate Capital, Generation Investment Management, Helios LLP, JTNL Advisory, Just Climate, Lightrock, MoreScope, PGGM, Planet A, Prime Coalition, Siemens-Energy, Power Sustainable, The Roda Group, TowerBrook Capital Partners L.P., Trill Impact, Venture Climate Alliance, Vidia Equity, WBCSD – World Business Council for Sustainable Development, World Fund, and Zero Carbon Capital.

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Sharon Thiruchelvam's new piece on the US Federal Reserve’s debut climate scenario analysis is thoughtful and nuanced. Black box modeling means banks and regulators don't really know what they're looking at, and it increases the risk that models used aren't fit for purpose. I think my quote at the top summarizes the issue: "If we want informed users and a healthy discussion about these models, then we need better disclosure about the inputs and assumptions and more systematised disclosure." I recommend the full read here: https://lnkd.in/gTGe5kPK

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A commendable effort by EU Commission's Destination Earth initiative. The Climate DT projections – from global to local scale, for several decades ahead – will enable decision-making in support of climate change adaptation and the implementation of the European Green Deal. The level of granularity marks a significant improvement over the current 7-10 year cycles of climate projections, which will now be updated annually or even more frequently. #climateadaptation #scenariomodeling https://lnkd.in/epevTaur

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🌱 Opportunities for Financing Landscapes & Nature-Based Solutions (NbS)! 🌍 The 2024 State of Blended Finance Climate Edition highlights how to mobilize private capital for large-scale NbS and Landscape projects (see here - https://lnkd.in/eJiG-nm5) The top insights from this report for financing landscapes and driving impactful change include: 📊 1. Power of Blended Finance in NbS Blended finance unlocks private capital for high-impact NbS initiatives, with $3.2 billion invested across 27 deals since 2018. This model de-risks investment, enabling reforestation and ecosystem restoration projects. 💸 2. Aggregated Funding Models Using bonds and funds to pool projects diversifies risk and scales impact. Aggregation models combine multiple smaller projects, creating a robust project portfolio that’s more attractive to investors. 🤝 3. The Role of Guarantees in Agriculture Guarantees reduce investment risks in climate-resilient agriculture, drawing private investors into this critical sector. With guarantees, projects gain stability, making agriculture projects viable for scaled investment. 📈 4. Rising Private Sector Interest Private investment in climate-blended finance soared 200% in 2023, especially in single-region or single-project investments, led by DFIs and MDBs to catalyze larger deals. 🌿 5. Strategies for Landscape Financing Success To scale NbS, focus on standardizing deal structures, demonstrating measurable outcomes (like carbon credits), and creating clear frameworks that attract private capital to adaptation and landscape initiatives. Blended finance is transforming the future of large scale NBS and landscape initiatives! It’s an exciting time to engage the private sector in scaling up climate resilience and sustainable agriculture 🌍 #ClimateFinance #SustainableInvesting #NatureBasedSolutions #BlendedFinance #LandscapeRestoration IDH Earthworm Foundation Landscape Finance Lab Proforest Pollination Gold Standard Convergence Blended Finance Mauricio Benitez ISEAL

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🌍 Want to commercialize your climate tech in the United States? Discover how small federal grants can be your stepping stone. In the last 3 years, the U.S. Department of Energy (DOE) has transformed. More funding for large-scale demonstrations is now available thanks to the Bipartisan Infrastructure Law and the Inflation Reduction Act. But did you know small federal grants can be just as impactful? Here's why: - DOE prefers funding companies they know. Small grants help you get on their radar. - Smaller grants are great for learning the ropes of federal funding. It's a practical way to understand the process and requirements. - Success with small grants can lead to bigger opportunities. Proving your capability with smaller projects can open doors to larger funding. Early engagement and consistent interaction with DOE can make a significant difference. Engaging early isn’t just about applying for funds; it's about building a presence and showcasing your potential. The DOE has set up entirely new programs and hired numerous program managers. They’ve run merit review processes for nearly a trillion dollars and selected over 1,000 projects. This transformation means more opportunities than ever, but the competition is fierce. To stand out, consider subrecipient opportunities within larger projects. These can be excellent ways to access federal support without going through the traditional funding process. Annual appropriations also offer smaller dollar awards, which are great for getting your feet wet. 📩 DM me or email [email protected] for expert tips on securing federal funds. #Innovation #Funding #Cleantech

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A fantastic brief and essential read for directors of financial institutions on water risk from CDP and Annabel Nelson The brief outlines a clear call to action for Boards: 🌍 1. Adopting a systems approach: Understanding how climate change and water are interrelated, aligning internal governance to embed consideration of water into strategy and business decision-making. 🧐 2. Assessing risks and opportunities: Identifying and evaluating your business’ impacts, dependencies, risks and opportunities on water. 💪🏻 3. Using change levers: Using your influence to support sustainable water usage and management. 📄 4. Documenting and disclosing: Transparency drives accountability, supports trust and helps to mitigate risk. Easy reading at 17 pages, get it downloaded for your train journey. https://lnkd.in/d98ZvQpf

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Leading the Charge: Why Performance Measurement Matters for Climate and Biodiversity Funding Climate change and biodiversity loss are defining challenges of our time. Addressing them requires significant public investment, but throwing money at the problem won't suffice. We need leaders who can effectively manage complexity and measure performance to ensure these funds deliver real impact. The Challenge of Complexity Public financing for climate and biodiversity interventions navigates a complex landscape. Here's why: ➡ Multi-stakeholder Engagement: From scientists and NGOs to local communities, government agencies and commercial banks, successful solutions require collaboration across diverse groups. Leaders need to be adept at fostering communication and building consensus. ➡ Long-Term Vision: Climate change and biodiversity loss are long-term challenges. Leaders must balance immediate needs with future goals, ensuring investments deliver lasting benefits. ➡ Competing Priorities: Public budgets are always stretched thin. Leaders must effectively advocate for climate and biodiversity funding while demonstrating its value compared to other pressing needs. Performance Measurement: Steering the Ship So, how do we ensure these complex endeavors deliver results? Performance measurement is key: ➡ Defining Clear Objectives: We need to establish measurable goals that align with both climate change mitigation and biodiversity protection. ➡ Tracking Progress: Regularly monitoring progress towards objectives allows for course correction and adaptation as needed. Data collection and analysis become crucial tools. ➡ Demonstrating Impact: Leaders must be able to translate complex data into clear narratives that resonate with the public, policymakers, and co-financiers. Showcasing the positive impact of investments builds trust and secures continued funding. Leaders for a Sustainable Future The fight against climate change and biodiversity loss demands a new generation of leaders. They must be skilled at: ➡ Collaboration: Building strong partnerships across sectors and stakeholders. Strategic Thinking: Developing long-term visions and adapting to a changing environment. ➡ Data-Driven Decision Making: Utilizing data to measure progress, identify successes, and learn from failures. By prioritizing performance measurement and embracing complexity, public leaders can turn climate and biodiversity funding into a powerful force for positive change. 📢 What are your thoughts on the role of performance measurement in sustainable finance? #climatechange #biodiversity #publicfinance #leadership

My colleague, Adam Guerino, recently spoke on a panel with the Sustainability Management program at Columbia University. https://lnkd.in/givD2iSc While we're seeing more bond issuance for nature-based and biodiversity outcomes, impact measurement remains a headwind. In the panel discussion, Adam expressed the need for consistent and assessable biodiversity measures that can be priced – much like a ton of CO2 can be priced into a carbon credit. In order to scale nature-based solutions, private capital from investors and asset owners will play a large part. When you can assign a price to an outcome, it becomes much easier to finance solutions.  

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Last post from Climate Week NYC! The theme of the day was innovation in adaptation. I spoke at a Milken Institute workshop on climate finance, we hosted our event on heat & health innovation, and I joined conversations with partners at Center for Climate and Energy Solutions (C2ES), Climate Policy Initiative, Global Adaptation & Resilience Investment Working Group (GARI) and Systemiq Ltd. that all focused, one way or another, on how we can accelerate private sector investments in adaptation. Here’s what I see. 🌐 Adaptation investment opportunities are a much wider universe than many realize. The Tailwind taxonomy (below) defines eight broad themes, 35 sectors, and provides hundreds of examples of investable innovative solutions in data analytics, physical solutions, insurance and financial instruments. GARI, Bezos Earth Fund and MSCI Sustainability Institute made a compelling argument that you can even invest in adaptation in public equity (the “unavoidable opportunity”) by picking companies who are smart about new market opportunities like 3M or Xylem, with a good ROI and positive externalities. You just need to look in the right place. 🛠 We need to stop using 19th century technology to address 21st century risks. Sandbags and generators and trees can do a great deal, but not enough. We need is to apply human ingenuity to this immense challenge that is climate adaptation. We need to leverage advances in materials science, we need to make water out thin air, to utilize chemical engineering and biochemistry to build differently, to grow food differently, to take care of our health differently. No reason we can’t do cheaper, faster, better for climate resilience. 💸 Saying that mitigation is investable but adaptation is not is a fallacy, and demonstrate short memory. Adaptation finance is 10-15 years behind mitigation finance. Renewable energy and clean tech received massive amounts of subsidies, blended capital, de-risking mechanisms and guarantees, policy enablers that helped bend the curve of technology costs to reach cost parity or profitability against fossil fuels, to establish the right business models. We can do the same for many adaptation opportunities! 🌪 The problem is: we don’t have time. We don’t have 10-15 years. We need adaptation now. We need public and private funders to rally and deploy capital to protect lives and economics assets. That’s exactly why we founded Tailwind. We’re going to keep advocating, educating, and putting out money where our mouth is. How about you? Katie MacDonald David Babikian Brooke Zhang Verena Radulovic Jay Koh Lori Collins Linda-Eling Lee Paul Bodnar Ricardo (Rick) Nogueira Dan Carol Vikram Widge Barbara Buchner Morgan Richmond Katherine Stodulka Kathy Baughman McLeod Reece Pacheco Stacy A. Swann Pallavi Sherikar Josh Sawislak Robert Kay Jeff Levine Amy Bailey Molly Wood Nicholas (Nick) A. Shufro

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I have yet to meet energy transition, net zero, and climate change people who understand math and science. 1. The works need 700 exajoules of non-carbon energy by 2050. Solar and wind cannot scale that high, nor would that much land be available. It will require all the nuclear that can be built, along with hydro. No one of your group seems to understand that number, how large a number of energy that is. Each exajoules represents either 174 million barrels of oil, or 34.12 million tons of coal. 2. I see no plan that provides non carbon energy to industrial, energy intensive processes, like making iron, steel, cement, and fertilizer, without which 4 billion people would not have enough food. All those processes are done with fossil fuels. Other than SMRs, I see no answer to provide energy for these industrial processes. 3. I don’t think you folks have an answer on how to convert 4 TW of coal plants, unless you plan on nuclear power. Nothing else has the scale, that does not need backup power. Green hydrogen is too expensive, by 5x. 4. Also, what will be the source of energy for 120,000 large ships, critical to international trade, that use diesel or heavy fuel oil? And what about the energy for jet airliners, 25,000 that need a new source of energy. 5. And what about 50 million diesel farm tractors that provide food? What about 100 million irrigation pumps? These are run by diesel. And what about large combines, harvesters. 6. Fossil fuels will still be needed for asphalt, forblubricants,and backup power to solar and wind. And you will need 150 million tons or copper, the equivalent of 7 years of mining. 7. I see no solutions to these questions, as if a positive attitude is enough. Sorry, it is not. I don’t think clean energy, net zero, nor climate activists, have any real solutions to these big problems.

Check out this recent IUCN report on the Regenerative Blue Economy if you are interested in what the future of the blue economy should look like. Below, I share my perspective as a member of the advisory committee of this initiative, on the main message and a couple features I found particularly striking. ✅The main message (as I read it): The report builds a historical perspective to explain why the 'blue economy', or even the 'sustainable blue economy', are not sufficient anymore. As the decline of ocean life has already been so dramatic that there is not much left to sustain or conserve, we need to raise our ambition and aim at a 'Regenerative Blue Economy'. One that actively addresses climate change an biodiversity loss. Alexandra Cousteau first convinced me of this in 2018 and it has guided my efforts in the space since. As a member of the advisory committee of this report, this was the main message I tried to pass on. 🧬The report (page 11, box 1) says the Regenerative Blue Economy is based on "scientifically grounded assessments". Indeed, I believe we will succeed in building a Regenerative Blue Economy only if we can embed science at the core of economic decisions. We need to overhaul our economic governance (shareholder meetings, boards, investment committees, etc...) to achieve this. This is why for example at SWEN Blue Ocean we created an Impact Committee composed of science and conservation experts to help us make the right investment decisions. We need to do this at scale, across the economy. 🌟Pages 30-31 of the report recognizes the potential of the impact framework of the Ocean Impact Navigator, developed by 1000 Ocean Startups, to apply to the economy as a whole, not just startups. I have always believed that, meaning the impact of the Navigator may expand beyond ocean startups at some point. Helping characterize what belongs to the Regenerative Blue Economy is a step in that direction. Congratulations to the lead authors, RAPHAELA LE GOUVELLO, Francois Simard, and the IUCN team. Thank you for giving me the opportunity to contribute. Adrien Vincent Minna Epps https://lnkd.in/eNKPxYZ4

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Proud to announce our next HSBC #Innovation Day Series - this time focused on #ClimateTech! A "must-go" for anyone involved in ClimateTech and/or #Sustainability, each of these events brings together some of the world's largest corporations, most forward thinking VCs and most innovative #startups to connect, share #ideas, and drive #change. This series has two events:  June 13th in New York City featuring:  • The AES Corporation's Ashley Smith • BASF's Luiziana Ribeiro • Oxy / 1PointFive's Anthony Cottone • Rivian's Anisa Kamadoli Costa and June 20th in San Francisco featuring:  • Salesforce's Suzanne DiBianca • Stripe's Hannah Bebbington • Amazon's Phoebe Wang • Google's Denise Pearl Both events are supported by our partnerships with leading #venturecapital firms: Energy Impact Partners, Lowercarbon Capital, Prelude Ventures, and Breakthrough Energy - as well as Capgemini. As usual, HSBC and HSBC Innovation Banking clients have priority access, but we anticipate having a LIMITED amount of waitlist spots available - so either contact your RM or add your name to the waitlists below quickly! 🗽 New York: Thursday, June 13th - Waitlist Link: https://lu.ma/pw6eg0k7 🌉 San Francisco: Thursday, June 20th - Waitlist Link: https://lu.ma/qrv98sag #Corporate #sustainability #climate #newenergy #netzero #SustainableTech #decarbonization #GreenInnovation #energytransition #ecoFriendly #RenewableEnergy #ClimateAction #TechForGood #CleanTech #EcoTech #NYTech #SFTech #GreenFuture #EnvironmentalTech #event #technology #strategy #CVC #venturecapital #startup #finance #digital #leaders

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