Philanthropists are funding climate adaptation moonshots
Who’s funding the early teams whose ideas could become the foundation for global adaptation solutions in the coming decades?
Last week, Bloomberg spoke with Patrick Verkooijen, CEO of the Global Center for Adaptation (GCA). GCA was created under then-UN head Ban-Ki Moon to act as a broker financing adaptation projects. Bloomberg’s provocatively titled article – “No one is investing in adaptation” – should be placed alongside the headlines emerging from COP28, the recent United Nations climate summit among 22 nations. Bloomberg’s article highlights that climate adaptation is the “poor cousin” of the climate debate, and Verkooijen says, “It's seen as a sunk cost and not as an investment. And that’s wrong.”
Almost as a timely retort, Barron’s Penta team offers an example of how philanthropy is part of the critical funding mix. Their writers discuss Iconiq Capital’s model of collaborative philanthropy, featuring climate contributions from philanthropists Benoit and Marie-Florence Dageville. While the Dagevilles have participated in all of the Iconiq co-labs and awards, Marie-Florence noted the family’s interest in funding climate adaptation “because it is the most human-centered pillar.” This Penta article offers insights into how to bring private donors into this dialogue.
Overall, Barron’s Penta articles have been a must-read in our office due to their early and ongoing coverage of groups who are funding the impossible – bold visions that can be seen as moonshots. One notable highlight for us is Penta’s moonshots “triptych” in 2019, which gave early insights into the work that Eric Schmidt’s team continues to lead today:
Penta’s moonshots “triptych” in 2019:
Barron’s Penta. (2019, July 26). “What are the world’s next ‘moonshots?” by Abby Schultz.
Barron’s Penta. (2019, December 9). “The age of moonshots” by Abby Schultz.
Barron’s Penta. (2019, December 9, 2019) “Creating a moonshot culture” by Eric Schmidt and Tom Kalil.
On that note, have you had time to read the Schmidt-backed call for a new national approach for developing microelectronics? Look for our coverage soon, plus notes on how a long-time colleague’s company found itself covered in the report.
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📰Moonshots in the news
This section highlights some recent news articles of moonshot thinking and doing, plus links them to specific Moonshot Ways from the Building Moonshots book. (Note that indented text highlighted by a blue line are direct quotes from each article.)
Wall Street Journal
December 9, 2023
Why the U.S. Needs a Moonshot Mentality for AI—Led by the Public Sector
In short, to effect change we need a moonshot mentality. In 2024, we need the government to galvanize a broad investment in AI that reflects America’s bold innovative spirit, backed by strong public-sector infrastructure.
▶️ Moonshot Way 18: Be visionary
Bloomberg
December 14, 2023
The Biggest Problem With Lab-Grown Chicken Is Growing the Chicken
Yet after eight years of toiling away in labs, raising more than $600 million and getting US Food and Drug Administration and Department of Agriculture signoffs to sell its first product, Upside [a food tech startup] has little to show for itself… plans for scaling up have been an evolution saddled with “realities and complexities of doing something that has never been done before. Innovation rarely happens in a straight and continuous line.”
▶️ Moonshot Way 4: Fund for breakthroughs
Financial Times
December 12, 2023
US nuclear start-ups battle funding challenge in race to curb emissions
US plans to build up its nuclear industry face big funding and regulatory challenges which could delay a new generation of smaller, more efficient reactors touted by advocates as critical to fighting climate change.
▶️ Moonshot Way 53: Scale fast and slow
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