IT IS GREAT TO HAVE SOME TIME WITH YOU.
TALK TO US ABOUT THE PROGRESS YOU HAVE MADE SO FAR.
HOW MUCH YOU ARE LOOKING TO BE OFFSETTING SOME OF THE IMPACT
IN THE BUSINESSES YOU HELP THE NETWORK AND MOVEMENT OF FUNDS
IN CLIMATE CHANGE AND WITHDRAWING SOME OF THAT.
>> IN ORDER TO HIT LOCAL WARMING TARGETS WE NEED TO DO
TWO THINGS.
STOP EMITTING AND REMOVE CARBON TO THE OXIDE THAT IS ALREADY IN
THE ATMOSPHERE AND OCEAN. WE ARE GOING TO DO A HUGE
AMOUNT OF BOTH WE ARE BEHIND ON THE SECOND BECAUSE WE DID NOT
REALLY REALIZE WE WERE GOING TO NEED TO DO IT AS MUCH AS WE NOW
KNOW THAT WE DO. OUR FOCUS SO FAR AS TO WRITE
HAS BEEN A SMALL CORPORATE COMMITMENT.
IT EXPANDED TO MAKE IT EASY FOR MANY USERS TO DIRECT A FRACTION
OF THEIR REVENUE TO CARBONATE REMOVAL. -- CARBON REMOVAL.
WE ARE NOT ON TRACK TO SCALE CARBONATE REMOVAL TO THE
REQUIRED GIGATONS WE NEED BY 2050.
HUNTER IS AN ATTEMPT TO GET CARBON REMOVAL ON THE FASTEST
POSSIBLE TRAJECTORY SO WE HAVE THE SWEETEST SOLUTION THAT WE
NEED TO HIT THAT ZERO IN THE COMING DECADES. CAROLINE:
TALK TO US ABOUT HOW THE FUND CAME TOGETHER.
>> TO CAME TOGETHER FROM THE -- THE GENESIS IS FROM THE STRIP
CLIMATE TEAM LOOKING AT THE SCIENCE AND SAYING WE HAVE MADE
A LOT OF PROGRESS, WE HAVE A LONG WAY TO GO.
HOW DO WE BEEN THE CURVE UP FOR CARBONATE REMOVAL KNOWING THAT
WE CANNOT DO THIS BY OURSELVES. THIS FORMED THE IMPETUS OF
GOING OUT AND STARTING TO TALK TO A NUMBER OF COMPANIES.
HAD WASTED A LOUD COMMAND SIGNAL TO THE INDUSTRY OF
CARBON REMOVAL -- HOW DO WE SEND A LOUD COMMAND SIGNAL TO
THE INDUSTRY OF CARBON REMOVAL?
THERE IS A PARALYZED INDUSTRY OF CARBON REMOVAL IN MANY WAYS.
>> HOW DO YOU REMOVE THAT?
>> WE SEE A DIVERSE SET OF COMPANIES ATTEMPTING CARBON
REMOVAL. FROM DIRECT AIR CAPTURE, LIKE
THESE GIANT FANS PULLING CARBON OUT OF THE AIR.
WE HAVE RUN A TIGHT WHICH IS DOING -- A COMPANY THAT IS
GROWING KILLED IN OCEAN WE HAVE A COMPANY GROWING KELP IN
THE OCEAN. WE HAVE ANOTHER COMPANY TURNING
IT INTO BIO OIL AND INTERDICT IT BACK UNDERGROUND.
THAT IS WHAT WE NEED, WE NEED AN ORDER OF MAGNITUDE, MORE
ATTEMPTS SO THAT WE HAVE THIS PORTFOLIO THAT WILL
COLLECTIVELY IT TO THE 6 BILLION TONS BY 2060 EVERY
SINGLE YEAR. CAROLINE:
SOME PEOPLE SEE THIS WHEN THEY SEE STRIPED AND INVESTING AND
THE FACT THAT THE PREVIOUS SERIES AND ROUNDS OF THE
INVESTMENT DID NOT GO COMPLETELY RIGHT.
HOW TO ENSURE THAT YOU HAVE THE RIGHT FOUNDER IN PLACE -- HOW
DO YOU ENSURE THAT YOU HAVE THE RIGHT FOUNDER IN PLACE?
>> I WANT TO MAKE AN IMPORTANT DISTINCTION, IN THE CASE OF
STREP CLIMATE, WE ARE BUYING CARBON REMOVAL.
THIS STEMS FROM THE FACT THAT WHEN ENERGY -- WIND ENERGY, WE
CONSUME ENERGY. WITH CARBON REMOVAL THERE IS NO
INTRINSIC BUYER. NOBODY WANTED TO BUY CARBON
REMOVAL WHEN IT IS EARLY AND EXPENSIVE.
IF YOU ARE A FOUNDER, OR WOULD YOU START A COMPANY IF NOBODY
IS GOING TO BUY THE THING THEY ARE SELLING?
WHAT WOULD YOU INVESTED A COMPANY THAT DOES NOT HAVE A
REVENUE STREAM? OUR THEORY OF CHANGE IS IF WE
ARE THE CUSTOMER WE CAN USE THAT TO PULL PROJECT FINANCE
AND MORE FOUNDERS INTO THE SPACE.
THE OTHER POINT I WILL MAKE, THIS FIELD AS EARLY AND WE
SHOULD EXPECT A NUMBER OF THESE COMPANIES DO NOT WORK.
THAT IS OK, THAT IS WHAT AN EARLY ECOSYSTEM IS LIKE.
WE NEED TO PREPARE FOR INNOVATION, SOME WILL WORK, LET
US FIGURE THAT OUT NOW.