Supporting undercapitalized climate projects

Very excited to share my most recent article in Forbes, focusing on the role of philanthropy in supporting climate innovation in emerging markets. Over the past few weeks, our team has had some great conversations with foundations and other partners who are supporting climate entrepreneurs in the some of the most vulnerable countries. Philanthropy is uniquely positioned to play a role here, but we need a wider aperture in terms of what it can and should do. The article proposes five areas where philanthropy can take on a wider agenda to not just fund more climate startups in these markets, but to build the talent pools and enabling ecosystems that support these companies. Here's a breakdown of the five areas: 1. New company building models: We don’t need just more climate entrepreneurship and innovation in developing countries, but we need it to be targeted at solving the most pressing problems. Purpose-built platforms - venture studios and builder models - can incubate startups with greater intentionality, offering technical capacity, market access, and tailored support that meet local needs. 2. Build fractional leadership networks: As much as more funding is needed to support climate startups in their early stages, matching them with the right talent at the right time can be critical. And there’s no guarantee that this talent is locally available. We need specialized programs that can match seasoned leadership - e.g. fractional CFOs, CMOs, and other C-level executives along with technical experts - who can provide critical guidance, strategic discipline, and credibility, making ventures more investment-ready and sustainable. 3. Ecosystem enablers and hubs: Climate tech benefits from enabling ecosystems, which often entail complex networks of universities giving birth to ideas, funds financing the development of prototypes, executive talent coming in from the corporate world and policymakers assessing how to incentivize the adoption of climate technologies. 4. Create linkages between emerging markets: Most funding, technology and talent transfer in climate tech tends to be concentrated between wealthy countries, but there are opportunities to strengthen ties between emerging markets themselves. Creating networks between regions fosters peer learning, market entry, and collaboration. 5. Prioritize adaptation and resilience: Often, adaptation and resilience (A&R) risks are the primary ways in which emerging markets first and foremost experience climate change. Increasing finance, company building and entrepreneurship support for A&R - health, disaster resilience, agriculture, and water - reflects the acute realities on the ground and brings direct benefits to vulnerable communities.

Climate change impacts everyone on the planet - but no one more than women and girls. When water is scarce, they walk for hours to collect it. When disasters strike, they face greater barriers to relief. When climate stress intensifies, so does the risk of gender-based violence. And yet? Women are also doing pioneering work on climate solutions. That’s why Amazon is a founding partner of 2X Global’s Resilient Futures Fund - an initiative designed to get capital and support for innovations led by, involving, or benefitting women and girls. Because, here’s another reality: women-led ventures receive only 2% of global venture capital funding. Closing that gap isn’t just about equity. It’s also about accelerating climate progress. This month, seven new grantees were announced across Latin America: ⚙️ Amplifica Capital | Latin America 🟢 Impacta - Emprendimiento sostenible | Colombia 🦈 Fundación Mundo Azul | Guatemala 👩💻 Irrazonables | Latin America 🪸 Mesoamerican Reef Fund - MAR Fund | Mesoamerican Reef Region ♀️ Positive Ventures | Brazil & Latin America 🌿 Regenera Ventures Fund by SVX MX | Mexico Different regions and approaches, but one shared goal: scaling climate solutions that are rooted in communities and built to last. To date, the fund has awarded $7.9 million to 22 grantees, supported 184 organizations, and helped create nearly 3,000 jobs (with more than half benefiting women). If we want faster, more inclusive climate solutions, we need to invest in the people already driving them! Learn more about the Resilient Futures Fund here: https://lnkd.in/gw48gNZZ

𝗕𝗿𝗶𝗱𝗴𝗶𝗻𝗴 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗮𝗻𝗱 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗔𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 I recently went through the Carbon Finance Playbook developed by USAID and CrossBoundary under the PLANETA program, and I must say: it is an incredibly valuable resource for anyone working at the intersection of climate finance, carbon markets, and sustainability. 🍃 💡 What struck me most is how clearly it demystifies the often complex world of carbon finance for nature-based projects in emerging markets. Too often, projects with strong climate and community impact remain underfunded because the investment process feels opaque or inaccessible. This playbook changes that. 𝗞𝗲𝘆 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗜 𝘁𝗼𝗼𝗸 𝗮𝘄𝗮𝘆: ➡️ Carbon markets, when designed with integrity, can unlock private finance for nature-based solutions that also deliver biodiversity protection and community benefits. ➡️Benefit Sharing Agreements (BSAs) are not just contracts, they’re the backbone of long-term trust and climate justice with Indigenous Peoples and Local Communities. ➡️Risk perception is as critical as actual risk—meaning insurance, governance, and transparent data are essential to attract capital. ➡️Early-stage catalytic finance plays a unique role in de-risking projects and opening the door for larger pools of commercial capital. ➡️Case studies like Mozambique highlight both the challenges and opportunities in aligning regulatory frameworks, community rights, and investor confidence. 𝗪𝗵𝗼 𝘀𝗵𝗼𝘂𝗹𝗱 𝗿𝗲𝗮𝗱 𝘁𝗵𝗶𝘀? Project developers can better structure their fundraising strategies. Investors and financiers gain a clear lens on risk, return, and impact. Policymakers and NGOs can draw lessons on building enabling environments that balance integrity, equity, and scale. For those of us working to advance planetary health and sustainability in emerging markets, this isn’t just a reference, it’s a practical toolkit to accelerate climate action where it matters most. #CarbonMarkets #ClimateFinance #NatureBasedSolutions #planetaryhealth #planetaryboundaries #sustainability #ClimateAction #carbonfootprint #NetZero #ClimateEmergency #SDG #ESG #GHG #netzero

$1.3 trillion in annual climate investment is needed by 2030, yet we are deploying less than half of that amount. The missing ingredient isn't capital — it's bankability. A key tool that helps creates bankability — insurance — is often brought in too late to fulfil its full potential. As Barbados Prime Minister Mia Mottley stated at COP28: "What is not insurable is not investable." THE PROBLEM: Insurance is frequently treated as an afterthought, introduced after project financing is already structured, site locations are locked in, and technology choices are made. At this stage, it is too late to address fundamental risks that could have been managed cost-effectively from the outset. THE SOLUTION: Insurance needs to be integrated upstream into project feasibility studies. When insurers are involved from the beginning, influencing site selection, technology choices, monitoring systems, and risk layering, they can create deals that are both insurable and investable. This approach is not just theoretical; it is already proving effective: → Coastal resilience bonds in the Caribbean now involve insurers during engineering phases. → Climate-smart agriculture funds with embedded weather insurance achieve 30-40% lower default rates. → Sovereign risk pools like CCRIF and ARC illustrate the pathway to local capacity building. FIVE SHIFTS NEEDED: 1. TIMING: Insurers should be involved in feasibility studies, not just during execution. 2. INCENTIVES: Reward long-duration products rather than annual churn. 3. CAPACITY: Train developers to engage insurance early in the process. 4. REGULATION: Stop penalizing long-duration climate commitments. 5. COORDINATION: Development Finance Institutions (DFIs) should require insurance input as standard practice. WHAT YOU CAN DO MONDAY: - If you're a project developer → Include "Insurance Feasibility Assessment" in your budget from day one. - If you're an insurer/broker → Offer pro bono input to three DFI project teams during the feasibility

To scale carbon removal, we need a financial architecture built for it. That’s the focus of the new piece Eneida Licaj and I wrote for the World Economic Forum. We break down why capital struggles to move and what’s needed to finance carbon removal at scale, including: 🔹Long-term offtakes that reduce risk and unlock predictable cash flow. 🔹A capital stack where risk, return, and tenor match the type of capital deployed. 🔹Targeted incentives - from policy tools like CfDs and tax credits to catalytic capital that can absorb early risk and crowd in institutional finance. 🔹Data infrastructure to support credit risk assessment and tie capital flow to progress. → We focus on the 'missing middle' in the capital stack - projects that are beyond early equity, but not yet bankable. Too risky for lenders, too capital-intensive for venture investors, and currently without the financial bridge needed to scale. → We also outline what corporates, governments, institutional investors, family offices, and development banks can do now  to help build a system that can price and allocate risk, deliver liquidity, and finance carbon removal infrastructure at the speed this decade demands. Special thanks to our expert reviewers for their input: Kash Burchett, HSBC Cindy J., ING Lucas Joppa, Haveli Investments Henry Waite, Kumo Max Zeller, Carbon Removal Partners and to Adam Sipthorpe & Hannes Junginger at Carbonfuture. 🔗 Link in comments. 📍If you're at WEF in January & working on financing climate infrastructure, let’s connect. #CarbonRemoval #ClimateFinance #CDR #NetZero #WEF2026

By being both an investor and a advocate for climate investments, one of the main paradox I struggle with is the Pipeline vs. Financing in Climate Deals one. Let me explain. There’s a growing dichotomy at the heart of climate finance: on one hand, we hear about a lack of bankable pipelines—high-quality, investable climate projects; on the other, we often point to a lack of financing as the main barrier. But what’s really missing—and what needs to happen between the two? 🔍 The Reality Check • A clear pipeline alone doesn’t guarantee capital—it needs standardized project structures, de-risking tools, matched timelines, and trusted verification. It needs offtaking agreements into place! And it also needs a way to navigate through all the mandates and actors that can provide financial resources. Not easy!! • Funding commitments fall short when projects lack financing readiness: technical feasibility, legal clarity, revenue certainty, ESG compliance, and clear impact metrics. COP30 is right around the corner. At SBCOP - Finance Working Group we are committed to bring a clear Action Agenda for Emerging & Developing Economies that could indeed bridge this gap. Some potential alternatives can include: 1. Pipeline Readiness Funds – Cover project preparation: feasibility, financial modeling, ESG review. 2. Risk Mitigation Schemes – Expand use of guarantees, insurance, blended capital to lower entry barriers. And that are adapted to the region reality! 3. Standardization & Market Infrastructure – Globally adopt model contracts, KPIs, certifications (like ICVCM, GCF standards). 4. Capacity Building – Fund local deal architects who can assemble bankable proposals. 5. Innovative Matchmaking Platforms – Use digital tools to connect projects with funders and match risk appetites transparently. 6. Anchor Deals by DFIs – Develop flagship projects that crowd in private finance and establish market precedents. COP30 must go beyond high-level pledges. We need a practical, resourced roadmap—not just more capital, but better-prepared pipelines and incentives that make private-sector commitments real. Emerging and developing economies deserve climate solutions that are not only financed, but truly achievable. Let’s connect the pipeline and the financing—and push for action at COP30. What ideas or models have you seen that close this gap? Let’s discuss! #SBCOP #COP30

Don't waste your time fundraising. Pitch investors who are built for your stage and your sector. If you’re building a climate venture in Africa at pre-seed or seed, Delta40 Venture Studio is one to know. They’re a venture studio plus an early-stage fund. They back pre-seed and seed climate ventures, then stay close to execution with hands-on support across partnerships, go-to-market, fundraising readiness, and hiring. Their focus is tight: - Clean energy and electric mobility - Agriculture and food systems - Inclusive fintech, data, and AI, especially when it helps energy, agriculture, mobility, or carbon finance work better Typical first checks are $100K to $350K, and they usually avoid rounds much bigger than $1M to $2M because they’re deeply involved. They just closed a $20M raise (54 investors, including 25 founders, which signals a “builders backing builders” culture) to scale what they describe as Africa’s first institutional Venture Studio + Fund model, built to pair early capital with hands-on venture building. They’re not just writing checks. Their model is designed to de-risk execution by acting like an extension of the founding team across core operating functions. Delta40 is best for teams who: - Are raising pre-seed or seed and have an MVP or real pilots - Are building in energy access, clean cooking, e-mobility, climate-smart agriculture, post-harvest value chains, circular models, carbon finance, or enabling fintech for those sectors - Want a hands-on capital partner who will help with execution, not just capital Question for founders: When you think about fundraising, what slows you down most right now: getting intros, getting replies, or getting to a real diligence conversation? Drop your sector and stage in one line.

🌍 The Hardest Part of My Job 🌱 One of the most heartbreaking parts of my work at Open Forest Protocol is seeing incredible reforestation projects—projects that could benefit all life on Earth—struggle to move forward simply because they lack funding. Example: Right now, we are working with a professor of forestry in Papua New Guinea who has submitted three reforestation projects through OFP. These projects aim to restore 2,500–3,000 hectares of degraded land, transforming it into vibrant, thriving ecosystems. What makes them so special? • Indigenous Leadership: Local communities are at the heart of these projects, with the majority of future income going directly to them. • Global Impact: These projects target some of the most intact primeval rainforests, making them more resilient while restoring biodiversity. • Decades of Potential: They have the capacity to generate sustainable carbon credit revenue for decades through OFP’s ARR methodology. But here’s the challenge: despite their immense promise, they can’t move forward without funding. What does this project need? 1️⃣ Feasibility stage capital to finalize project development plans. 2️⃣ Implementation capital to start reforestation and community engagement on the ground. This is where you come in. If you, or someone you know, is looking to support high-impact, community-driven climate projects, this is an opportunity to help restore ecosystems, empower indigenous communities, and take meaningful climate action. If this resonates, please reach out—or share this post with someone who might be interested. Let’s make sure these projects don’t remain just a vision. #Reforestation #ClimateAction #IndigenousCommunities #NatureBasedSolutions #climatefinance

You’re just a service provider - you’re not making meaningful changes on the ground. This inner voice is NOT true. I’m constantly thinking about how to step up as a strategic partner for climate action, not just as a vendor. 🤝 I know that storytelling and design play a crucial role to amplify these efforts and attract multi-disciplinary partnerships. But, how can we play a bigger role in this transition? Here are 3 organizations that have combined a core service + capital + other resources to step up their role and impact: 🌿 Sustainable Ventures ↳ Work solely with the climate community  ↳ Offer: Advice, co-working spaces, networking events, capital, and connections so founders can focus on their core technology and growth. ↳ They go beyond investment and play a role in strategy, branding, and all facets of design as well. Portfolio: ✦ Lowr- sustainability platform for organizations to log and lower their users’ emissions ✦ Sunswap - solar-powered thermal refrigeration unit for lower carbon transport 🌿 Designer Fund ↳ Offers $500K and comprehensive design support to early-stage companies, initially focussing on health, prosperity, and sustainability-related ventures. ↳ Provide design advice, build design teams, and connect founders to experts and potential angel investors. This enables climate startups to get the branding, UX, and fundraising support they desperately need. ↳ Goal: Transfer the best of traditional tech SaaS and apply those lessons to our climate challenges, build new alternatives for products rooted in unsustainable supply chains, and work toward a circular economy. Portfolio: ✦  Zero Acre Farms - sustainable urban farming technology ✦  Lumen Energy - helping buildings transition to clean energy 🌿 VSC Ventures ↳ Using media strategy and storytelling as their superpower, VSC helps climate solutions resonate with the mainstream. ↳ Their Climb communications program helps climate tech startups access the best capital, the smartest talent, and the most strategic partners. ↳ At a time when there are more climate tech companies than ever before, robust storytelling is what truly helps founders stand out and influence policymakers, investors, and partners. Portfolio: ✦ Glacier - an AI-based recycling robotics startup that is significantly less expensive than the competition ✦ concrete.ai - an AI platform that prevents unnecessary waste and effort during concrete mixing and production 💚 Climate enablers are more important than ever and there are so many ways to accelerate the transition. Firms that can play a strategic role will provide the foundation for the interventions that mitigate climate change. Who are other service providers are you seeing move beyond their core service for larger impact? Tag other climate-enablers+ service partners doing amazing climate work in the comments! ⬇️

Venture funding can get a business started, but working capital keeps companies alive. In times of fluctuating federal funding and fleet-footed investors, climate founders need a reliable #workingcapital strategy to extend runway, scale smarter, and avoid unnecessary dilution. We go deep on these under-appreciated financing instruments and the when, what, and how to wield them in Sightline Climate (CTVC)‘s Working Capital Playbook. TLDR: 💳 Debt stabilizes cash flow. Credit lines, term loans & venture debt fund operations but require assets or revenue. 💡 Hybrid instruments bridge early gaps. SAFEs & convertible notes offer flexible funding without immediate dilution. 🏗️ Grants fuel deep tech. Government & catalytic capital de-risk FOAK projects and unlock follow-on investment. 🔄 Creative financing frees up cash. Factoring, revenue-based financing & invoice advances fund growth without equity. 🏛️ Policy & community capital add leverage. Green banks, philanthropy & state incentives provide non-dilutive funding. Nerd out on the full pros & cons analysis, self-assessment questionnaire, and case studies with Enduring Planet, DexMat, Thea Energy, HSBC Innovation Banking, Rondo Energy, and Breakthrough Energy in the report below 👇 https://lnkd.in/ettJuAGv