In this episode, I speak with Paul Smeets, a professor of philanthropy and sustainable finance at the University of Amsterdam, and Dan Stein, founder of Giving Green, a research organization that helps donors maximize their climate impact. Together, we explored the intersection of individual actions, systemic change, and effective giving to address climate change.

My favorite takeaways from the conversation were:

1. Massive Carbon Savings Through Strategic Interventions: A compelling example discussed was the advocacy to keep California's Diablo Canyon Nuclear Power Plant operational. This single campaign, costing just $3 million, could save 35 megatons of carbon emissions over five years—equivalent to 10% of California's annual electricity-related emissions. It’s a striking illustration of how targeted efforts can have disproportionately large impacts on climate goals.
2. Gut Feel vs. Voice of Reason—Do Both: Paul shared how his shift to a plant-based diet initially felt undermined when he learned that systemic donations could have a larger impact. Yet, he continues his dietary choices while also donating to climate charities, finding that both approaches can coexist. The conclusion? Embrace the emotional satisfaction of personal action and the logic of systemic impact through strategic giving.
3. The Power of Giving Green: Dan explained how Giving Green identifies and supports the most effective climate initiatives, such as advancing geothermal energy and advocating for lab-grown meat. Their research process focuses on scalable, feasible, and underfunded opportunities. By donating to Giving Green’s recommended causes, individuals can achieve far greater impact than through behavioral changes alone.

If you’re curious to learn more:

• Visit Giving Green’s website to explore their recommendations.
• Check out Effektiv Spenden (for German-speaking listeners) for efficient donation options to vetted climate charities.
• Stay informed about cutting-edge solutions like geothermal energy and lab-grown meat.

For your convenience, I’ve linked the resources we discussed:

• Giving Green: https://www.givinggreen.earth
• Effektiv Spenden (catering to the German-speaking region): https://effektiv-spenden.org
• Stanford/MIT study on the Diablo Canyon nuclear power plant: https://energy.stanford.edu/news/extending-diablo-canyon-nuclear-plant-would-help-california-meet-its-climate-goals-new-study
• A news story about the tasting of the first lab-grown burger: https://www.science.org/content/article/first-artificial-burger-gets-tepid-reviews-billionaire-financier-unmasked

In this episode, I speak with Annu Nieminen, CEO of Upright, a Finnish technology startup with an automated method to quantify companies' net impact on people, planet, society, and knowledge. Upright combines machine learning and natural language processing to analyze scientific data and company activities, providing an impact profile for companies worldwide.

My favorite takeaways from the conversation were:

1. Compromising the Answer, Not the Question: Annu emphasized the importance of focusing on the right question, even if the answer remains imperfect at first. Upright’s model prioritizes understanding a company's true net impact, even if it challenges traditional ESG metrics.
2. Hidden ESG Champions and Challenges: I loved Annu’s examples of hidden impact champions like condom manufacturers and sewage infrastructure companies—both create significant positive health and societal impacts, even if they’re not traditional ESG darlings. Conversely, modern tech companies working in areas like ad optimization for tobacco or fast fashion can have surprisingly negative net impacts.
3. Scarce Human Capital: Upright introduces the idea of evaluating companies based on the opportunity cost of the human talent they employ. This provocative metric raises critical questions about how we allocate the world’s brightest minds.
4. The Power of Open Data: Annu’s vision for the future is to create a neutral, science-based resource for understanding a company’s impact. She hopes this could become the default source for anyone searching for "Tesla impact" or similar, allowing a common-sense starting point for discussions.

For listeners who want to dive deeper, Upright offers a free version of its platform to explore company impact profiles. Check it out and see what your favorite company is doing for (or to) the world. https://uprightplatform.com

In this episode, I speak with Alex Edmans, a professor of Finance at London Business School. Many of you in the audience will have heard of Alex before. We traced his evolution of thought regarding sustainable finance, covering his extensive body of work, including the book “Grow the Pie,” his academic papers, op-eds, and TED Talks, including his most recent paper: Sustainable Investing: Evidence from the Field.

My favorite takeaways from the conversation were:

1. When I asked when he first got interested in sustainability, Alex surprised me by saying he was never interested in sustainability or sustainable finance per se. He was interested in long-term value creation but noticed that sustainability aspects are sometimes important but overlooked or misunderstood.
2. I realized how the concept of competitive advantage is really at the heart of figuring out how a business or an individual can drive change. Focusing on what you can do very well right now can help to exit ESG compliance mode and enter an innovative mindset that helps society move forward.
3. I asked Alex whether he is more or less optimistic about businesses solving important problems than he was four years ago. Delightfully, he is MORE optimistic, which I find so encouraging.

If you like the pod, I can only recommend diving more deeply into Alex’s work, which is very nicely made accessible on his homepage: https://alexedmans.com