The VC community has announced the launch today of the Venture Climate Alliance (VCA).
The VCA consist of 23 venture capital firms across the U.S. and Europe. In joining the VCA, member firms have committed to support the goal of achieving a global transition to net zero emissions. To start, venture firms pledge to inventory their direct Scope 1-3 carbon footprint and to reach net zero or negative emissions for their own firm’s operations by 2030 or sooner.
VCA members will encourage and assist their portfolio companies in setting their own targets to achieve net zero alignment by 2050 or sooner, and will report transparently on their progress over time using best practice methodologies and disclosure guidance to be developed over the coming year. These commitments will establish stage-dependent climate-aligned goals as a part of startups’ growth strategies, rather than as a late stage add-ons to business-as-usual operations.
The VCA’s founding members are Prelude Ventures, Capricorn Investment Group, DCVC, Energy Impact Partners, Galvanize Climate Solutions, S2G Ventures, Union Square Ventures, Tiger Global Management, World Fund and 2150; along with Obvious Ventures, Congruent Ventures, Valo Ventures, Clean Energy Ventures, Fifth Wall, Overture VC, Blackhorn Ventures, Spring Lane Capital, Azolla Ventures, Systemiq Capital, The Westly Group, Innovation Endeavors, and ReGen Ventures. It is supported by Great Circle Capital Advisors a climate finance advisory firm.
Learn more: https://ventureclimate.org
Source: Press Release