#92 | Climate Tech is on a roll. State Street Annual Letter
Hello everyone and welcome to February in a few days. While the year is moving ahead in full steam, we are making every week count to provide you insights into innovations in climate tech. Speaking of which…
Next startup spotlight showcase is February 16th. REGISTER Here! We will talk about innovations in recycling, urban gardening, sustainable investing, ESG reporting and risk management. See you there as our community gets together again.
If you missed the January Showcase, recording is NOW AVAILABLE. Catch the replay and check out the highlights.
📚 Worth Reading
State Street, one of the largest asset managers in the world with $3.9 trillion assets under management, released its annual letter. Similar to BlockRock, it is another bellwether for asset managers and investors. Furthermore, State Street highlighted its expectation to see not just further use of standards to measure decarbonization activities in companies but also formal disclosure requirements.
“We expect companies in major indices in the US, Canada, UK, Europe, and Australia to align with climate-related disclosures requested by TCFD, including whether the company discloses: (1) board oversight of climate-related risks and opportunities; (2) total direct and indirect GHG emissions (“Scope 1” and “Scope 2” emissions); and (3) targets for reducing GHG emissions. With approximately one-third of companies in the S&P 500 still not providing these TCFD disclosures4, we will start taking voting action against directors across applicable indices should companies not meet these disclosure expectations.”
🚀 Funding and Congrats!
Plenty, an indoor vertical farming startup, received $400m in Series E. Plenty was a Understory Startup Spotlight!
Carbon offsetting ratings platform Sylvera raises $32 million Series A.
ClimateTrade raised new funding to accelerate its blockchain-based carbon offset marketplace.
Bodhi, an Austin-based clean energy software company, raised $4m in financing.
ReCarbon, a Santa Clara-based technology platform for greenhouse gas utilization closed additional $25m financing.
Kula Bio, a Boston-based provider of sustainable nitrogen solutions, closed a $50m in financing.
Stilride, an electromobility startup, raised new financing.
💡 Startup Spotlight
Staze - Find the Most Sustainable Hotel Anywhere
👀 Quick Hits
Climate change is impacting which crop can produce where. Coffee beans, avocados, cashews among others are global crop staples that are being affected.
Your cup of joe will get more expensive — climate change is part of the reason.
A federal judge required the government to provide climate analysis in helping to determine drilling decisions.
Net zero transition - a cost and benefit analysis.
🎧 Podcast
Joanne Rodriguez of Mycocyle: regeneration powered by fungi
David Wei of SolarKal: simplifying solar procurement
Ed Thomas of Hazel: climate empowerment with a single click
The Understory Podcast is also available on SoundCloud, Apple Podcasts, Amazon Music, and Google Podcasts.
⚙️ Jobs
Find and share your open positions on the Understory Slack channel.
🆕 Operations Manager at Atmo Home
🆕 Environmental Protection Specialist at EPA
🆕 Multiple roles at Siklus
🆕 Carbon Credits Director at BitGreen
🆕 Head of Sustainable Products at Boston Materials
🆕 Multiple roles at DYPER
🆕 Innovation Manager, Sustainability at Crocs
🆕 ESG / Sustainability Product Lead at Hartford Funds
🆕 Green Economy Associate at JPMorgan
🆕 Senior Strategy Manager - Defense Sustainability at Boeing
Sustainability Project Coordinator at JLL
Store Managers & Associates at Borobabi
Head of Climate at Diginex
Multiple Roles at MightyFly
Key Account Director at Interface
Head of Sustainability at OnProcess Technology
Senior Program Manager, Diversion at Whole Foods
Senior Position in Late-Stage Technology Investing at Revaia
Finance Intern at Wallet Max
Recycling & Waste Diversion Analyst at Cox Enterprises
Director, Strategic Initiatives - Corporate Affairs - Sustainability (Circular Economy) at Walmart
Principal, Circular Economy at Amazon
Project Director, Sustainability, Energy and Climate Change (Circular Economy) at WSP
🗓 Events
February 16: Understory’s Startups Driving Sustainability - February Showcase
March 23: Understory’s Startups Driving Sustainability - March Showcase
April 23: Atlanta Green Business Market Fair
Do you have any events to share? Post them in our Understory Slack community.
📧 Stay in Touch!
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