AI’s killer app: Guiding humanity through the climate challenge. The power of artificial intelligence (as well as its potentially massive energy consumption and carbon emissions) has been the talk of the COP28 global climate summit underway in Dubai. The US is leading an effort “to put AI for climate literally into the text of the outcomes here at this COP,” US deputy climate envoy Rick Duke said in a panel discussion. Calling Sam Altman: By applying AI to meet the greatest existential threat facing humanity, AI can absolve itself of itself being the greatest existential threat to humanity. In other words, ask not what artificial intelligence can do for the climate, ask what the climate challenge can do for AI.
Dealflow: Sustainable Forests
The Russell Family Foundation offers up $3.5 million for sustainable food, energy and infrastructure. The largest chunk of funding was a $2.3 million mission-aligned investment in Timberland Investment Group, an investment division of Brazilian bank BTG Pactual that manages more than three million acres of timberland in the US and Latin America. TIG is working in partnership with The Nature Conservancy to establish science-based climate and conservation targets for the US portion of its $5.7 billion timber portfolio. It's also working with Conservation International on a $1 billion, five-year investment strategy for forest protection and restoration in Latin America.
Impact Voices: Venture ESG
ESG and FTX: How VCs can invest more responsibility in crypto this time around. This crypto rally can be different. Crypto’s rise, then fall, then recent rise again, presents an opportunity for venture capitalists to invest more responsibly this time. FTX, which collapsed earlier this year, was deemed "a case study in bad governance." While consideration of environmental, social and governance factors has penetrated other financial and investment sectors, crypto investors have largely ignored such risk factors. “Signs of a shift are emerging in public markets,” write Cessiah Lopez and Johannes Lenhard in the latest contribution from VentureESG.
Agents of Impact: Follow the Talent
👋 Next Week’s Call: How to spot overlooked impact and risk in municipal bonds. On the next Call in ImpactAlpha’s Muni Impact series, supported by the Robert Wood Johnson Foundation, learn how to spot rampant mispricing of racial and climate risk – and overlooked opportunities for impact – in the municipal bond market. Join Activest’s Homero Radway,Kestrel’s Monica Reid, R. Paul Herman of HIP Investor, Court Street Group’s Matt Posner and other Agents of Impact, Wednesday, Dec. 13, at 10am PT / 1pm ET / 6pm London. RSVP today.