Climate Rising is about the impact of climate change on business. It brings business and policy leaders and Harvard Business School faculty together to share insights about what businesses are doing, can do, and should do to confront climate change. It explores the many challenges and opportunities that climate change raises for managers, such as decisions about where they choose to locate, the technologies they develop and use, their strategies with respect to products, marketing, customer engagement, and policy—in other words, the full spectrum of business concerns.
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Scaling High-Integrity Nature-Based Carbon Removal with re.green (00:47:10)
Marcelo Medeiros, co-founder and CEO of re.green, joins Climate
Rising to discuss how his company is restoring millions of hectares of
degraded land in Brazil’s Atlantic Forest and Amazon biomes by producing
high-quality nature-based carbon removal credits.
Marcelo explains how re.green combines data science, forest
restoration, and long-term land ownership to deliver durable carbon
sequestration—and why they chose a for-profit model to scale impact. He
discusses price transparency, quality verification, and how re.green is
preparing for a future where compliance carbon markets may accept removal-based offsets from nature-based solutions.
Marcelo also shares how winning the Earthshot Prize brought global visibility, how AI is improving ecosystem planning, and how the company
works with clients like Microsoft and Telefónica under long-term offtake
agreements.
This episode is a part of our Global South series. Explore
more episodes at climaterising.org.
Tata Power and India's Energy Transition: Balancing Growth and Decarbonization (00:38:49)
As bonus episode of Climate Rising, we feature a
conversation among Tata Power CEO Dr. Praveer Sinha, Harvard Business School Professor Vikram Gandhi, and HBS Chief Marketing and Communications Officer Brian Kenny that explores how India’s largest private power company is navigating its net-zero commitment while supporting a rapidly growing economy. With energy demand projected to quadruple by 2047, Tata Power has committed to phasing down coal and expanding renewables, distributed generation, and smart grid investments.
This conversation, based on the HBS case “Tata Power and
India’s Energy Transition” and originally recorded for the HBS Cold Call
podcast, explores how Tata Power balances profitability and purpose, the role of technology and grid modernization, and how energy transition in the Global South differs from the Global North. Dr. Sinha also shares insights on employee reskilling, engaging customers as “prosumers,” and why long-term vision is critical to executing a climate-aligned business strategy.
This episode is part of Climate Rising’s Global South series, which features companies and organizations at the intersection of business and climate in India and Brazil. Explore more episodes at climaterising.org.
Decarbonizing Steel in the Global South: JSW Group’s Climate Strategy (00:57:37)
Parth Jindal and Prabodha Acharya of JSW Group join Climate
Rising to discuss how one of India’s largest industrial conglomerates is
reducing the carbon intensity of its steel business while scaling
infrastructure for a fast-growing economy. They share how JSW built vertically integrated operations—from power to cement to ports—through industrial symbiosis, and why energy efficiency, renewable power, and circular practices are at the heart of its decarbonization roadmap.
The conversation explores India’s dual challenge: meeting
rising domestic steel demand while managing its climate vulnerability. Parth and Prabodha explain JSW’s green investments, hydrogen pilots, carbon capture initiatives, and why cost competitiveness, stakeholder pressure, and industrial policy shape the path forward.
This is part of our Global South series, which also
features Tata Power and organizations in Brazil at the intersection of business and climate. Explore more episodes at climaterising.org.
De-Risking Climate Tech: Inside the Massachusetts Clean Energy Center with Galen Nelson (00:53:26)
Galen Nelson, Chief Climate Officer at the Massachusetts
Clean Energy Center (MassCEC) explains how the state is helping accelerate climate innovation through early-stage grants, equity investments, and infrastructure support. Galen outlines how MassCEC targets “market failures” where private investors hesitate—such as pilot and demonstration projects—and how these public investments help attract follow-on capital, inform policy, and build economic resilience.
Galen shares examples across climate tech verticals including energy efficiency, carbon-intensive materials like cement, and urban heat resilience. He also discusses how MassCEC is responding to the shifting
federal policy landscape, its new authority to fund climate adaptation
technologies, and how the agency’s public-private model balances innovation with accountability.
Governing Climate Action: Massachusetts’ Strategy for Decarbonization and Resilience (00:44:53)
Jonathan Schrag, Deputy Climate Chief for the Commonwealth
of Massachusetts, joins Climate Rising to discuss how the state is
tackling emissions, electrifying infrastructure, and responding to a shifting
federal policy landscape. Jonathan shares how Massachusetts’ newly created Climate Office coordinates across agencies—from housing to public health to corrections—to embed climate action into all corners of state government.
He discusses the state’s emissions targets, the role of
local municipalities in building codes and EV infrastructure, and the growing headwinds from federal rollbacks, tariffs, and canceled clean energy grants. He also reflects on market uncertainty, offshore wind, geothermal pilots, and the promise of small modular nuclear reactors.
How Crusoe is Reducing the Carbon Intensity of AI Data Centers (00:30:50)
Hui Wen Chan, Senior Director of Sustainability at Crusoe, describes
how the rapid rise of AI is reshaping energy demand and Crusoe’s efforts to design more sustainable data centers. She explains how Crusoe leverages stranded energy sources, repurposed electric vehicle batteries, on-site renewables, and innovative energy-efficient cooling technologies to design and build gigawatt-scale AI data center infrastructure that reduces water and carbon footprints.
She also shares why Crusoe emphasizes modularity and location-based energy sourcing, and how its customers—ranging from AI startups
to tech hyper-scalers—are integrating climate into their computing strategy. Hui reflects on her path from microfinance and Citi’s ESG team to climate tech and offers practical advice for others pursuing careers at the intersection of AI and sustainability.
This episode is a part of our HBS alumni series, which also features Eric Adamson who works on agricultural robotics at Oishii, and Danielle Colson who works at Mantel, a carbon capture technology start-up. Visit our website (climaterising.org) to explore the entire series!
Scaling Carbon Capture for Hard-to-abate sectors: Danielle Rapson of Mantel (00:40:07)
Danielle Rapson, HBS alum and Co-founder and COO of Mantel, joins Climate Rising to explain how her company is developing a novel molten-based carbon capture system for hard-to-abate industrial sectors. Danielle shares the story of how Mantel spun out of an MIT lab, what sets its technology apart from existing amine-based carbon capture, and why the economics of steam reuse are critical to its efficiency. She also discusses how Mantel’s early projects in pulp and paper and oil refining are shaping its path to commercialization, and what policy and regulatory incentives—like 45Q and Canada’s carbon tax—mean for scaling carbon removal solutions.
This episode is part of our alumni series, which also features Eric Adamson, Robotics Executive at Oishii and co-founder of Tortuga AgTech, and Hui Wen Chan of Crusoe, which uses stranded energy to power AI data centers. Explore the full series at climaterising.org.
Resources Mentioned
• Mantel – Developing molten material-based carbon capture for industrial emissions
• Breakthrough Energy Fellows – A program supporting early-stage climate tech innovators
• The Engine – VC firm backing tough tech startups out of MIT
• MCJ – "My Climate Journey," a podcast and investor network on climate tech
• Kruger– Canadian pulp and paper partner for Mantel’s first demonstration project
• 45Q Tax Credit (U.S. IRS) – U.S. tax credit for carbon capture and sequestration
• Canada’s Carbon Tax Policy – A national carbon pricing mechanism incentivizing low-carbon tech
Host and Guest
Host: Mike Toffel, Professor, Harvard Business School (LinkedIn)
Guest: Danielle Rapson, Co-founder & COO, Mantel (LinkedIn)
Building Climate-Resilient Farming with Robotics: Eric Adamson of Oishii and Tortuga (00:43:13)
Eric Adamson, Robotics Executive at Oishii and co-founder of Tortuga AgTech, joins Climate Rising to share how automation and AI are transforming fruit farming. Eric explains how his team designed a strawberry-harvesting robot capable of operating in outdoor tunnels and vertical farms, bringing operational efficiency, labor savings, and climate resilience to high-value crops. He discusses why harvest is the hardest—and most impactful—problem in agriculture to automate, what it took to move from lab demo to field-scale deployment, and how they integrated custom robotics and 17 on-device AI models to achieve 97% picking accuracy. Eric also shares his climate thesis on why controlled environments reduce emissions, waste, and chemical use, and how UV-powered robots and environmental buffering help adapt to floods, fungi, and labor volatility.
This episode is part of our alumni series, which also features Danielle Colson of Mantel, a carbon-capture climate-tech start-up, and Hui Wen Chan of Crusoe, which uses stranded energy to power AI data centers. Explore the full series at climaterising.org
Microsoft ’s Climate Strategy and Its Carbon Removal Deal with Chestnut Carbon (00:44:34)
Microsoft’s Brian Marrs, Senior Director of Energy and Carbon Removal, and Chestnut Carbon CFO Greg Adams share their perspectives as a major buyer and developer of carbon removal credits. Their 2025 deal is one of the largest carbon removal deals in the U.S. and seeks to deliver 7 million tons of nature-based carbon credits over 25 years.
Brian explains Microsoft’s carbon negative strategy and targets, and the role of carbon removal credits. He also describes how Microsoft is using its Climate Innovation Fund and procurement efforts to “build missing markets” in decarbonized energy, materials, and transportation.
Greg describes how Chestnut Carbon combines afforestation, land ownership, and a private equity-backed project development model to deliver high-integrity carbon credits. He explains how their work is similar to long-term energy infrastructure contracts like power purchase agreements (PPAs), and how they are using proprietary tools to scale.
Brian and Greg also share their advice for those looking to learn more and work in the field.
Reducing Household Emissions with Dishwashing Innovation: A Conversation with P&G ’ s Ashley Fill (00:48:02)
Ashley Fill, Global Director of Sustainability at P&G Home Care joins Climate Rising to discuss how consumer behavior and innovative technologies can reduce household carbon and water footprints. Ashley shares how life cycle assessments reveal that 87% of the emissions in P&G’s Home Care portfolio come from product use, particularly dishwashing. She describes how their products are engineered to deliver superior performance while reducing water and energy. Ashley also discusses P&G’s partnerships with appliance manufacturers, NGOs, and coalitions like the 50L Home Coalition to encourage sustainable home practices. She reflects on regional water use trends, behavior change challenges, and how P&G ensures credible sustainability claims. Ashley also shares career advice for those entering sustainability roles in consumer goods
AI for Climate Resilient Food Systems with ClimateAi’s Himanshu Gupta (00:46:16)
ClimateAi co-founder and CEO Himanshu Gupta explains how his
company uses machine learning to forecast extreme weather and help businesses adapt to climate volatility. Himanshu shares his journey from rural India to co-founding ClimateAi while he was an MBA student. He describes how ClimateAi's "biophysics-driven AI" combines limited weather and crop yield data to inform procurement, logistics, and planting decisions for a quarter of the top 200 food and beverage companies. He also shares examples of government partnerships focused on food security and national supply chain resilience and offers insight on the future of adaptation technologies and enterprise AI. Finally, Himanshu gives advice to those looking to work at the intersection of AI and resilience in the food and agriculture industry.
This episode is a part of our series on Climate Resilience, which also features Sarah Russell, Managing Director at Google X; Jacqueline Novogratz, CEO of Acumen; and Alex Berkowitz, CEO of Coastal Protection Services. Visit climaterising.org to explore the entire series!
Designing for Resilience: with Alex Berkowitz of Coastal Protection Services (00:38:10)
This episode is another in our series on Climate Resilience featuring
Alex Berkowitz, Founder and CEO of Coastal Protection Solutions (CPS), a
startup developing nearshore infrastructure that reduces wave energy and enhances climate resilience. Alex shares how her personal experience with Hurricane Sandy in her hometown of Rockaway Beach led to the creation of the Wave Breaker—an innovative floating barrier designed to protect coastal communities from storm surge and erosion.
She explains how CPS integrates landscape design, marine engineering, and microgrid energy into its solution, and how it differs from traditional seawalls or breakwaters. Alex also discusses navigating public policy, permitting, and insurance incentives, and finally, Alex shares her career advice for those who are interested in climate resilience.
Host and Guest
Host: Mike Toffel, Professor, Harvard Business School (LinkedIn)
Guest: Alex Berkowitz, Founder
& CEO, Coastal Protection Solutions (LinkedIn)
Investing in Climate Resilience and Poverty Alleviation: Acumen Founder & CEO Jacqueline Novogratz (00:57:24)
In this Climate Rising episode in our series on climate resilience, Jacqueline Novogratz, Founder and CEO of Acumen shares how impact investing is agriculture is helping smallholder farmers build climate resilience. Jacqueline shares insights from two decades of investing in poverty alleviation that includes climate resilience and adaptation social enterprises engaging in agriculture and off-grid solar.
She explains how Acumen uses blended capital, including philanthropic first-loss investments and commercial impact funding, to scale business models in underdeveloped markets where traditional investors hesitate. Jacqueline also shares examples of companies solving food insecurity and extreme climate risks for smallholder farmers and discusses how a “post-aid” world demands new tools, structures, and partnerships for impact investing.
Forecasting Climate Risk with Geospatial AI: Sarah Russell of X , the Moonshot Factory at Alphabet (00:35:09)
This episode, part of the Climate Rising series on climate resilience, features Sarah Russell, General Manager of Project Bellwether at X, The Moonshot Factory at Alphabet (formerly Google X). Sarah shares how geospatial data and artificial intelligence can help communities and businesses anticipate and respond to climate risks. Sarah shares insights from her work building predictive wildfire risk models using satellite imagery, AI, and systems design to enable more targeted insurance underwriting and disaster preparedness.
She also explains how Bellwether is creating geospatial AI infrastructure and tools to support natural disaster response by the National Guard. Sarah also shares how emerging foundational geospatial models will transform adaptation, and she offers career advice for those in climate tech and applied AI.
Closing the Loop by Recycling Apparel: Reju CEO Patrik Frisk (00:43:43)
Patrik Frisk, CEO of ReJu, joins Climate Rising to discuss his company’s mission to recycle textile waste and build circular supply chains for apparel made of polyester fabric. Patrik brings his prior experience leading Under Armour and other global brands across the textile and footwear industry for over 35 years.
Patrik describes how ReJu turns discarded apparel made of polyester blends into new polyester, and how it tackles the logistical and technical challenges of sorting, processing, and regenerating blended fabrics at scale. Patrik also describes relevant policy trends such as extended producer responsibility and offers advice for those pursuing careers in the circular economy.
Extending Apparel Lifespan: ThredUp CEO James Reinhart (00:38:02)
James Reinhart, CEO of ThredUp, one of the largest online resale platforms for secondhand clothing. James co-founded the company while he was a Masters’ student at Harvard and has spent the last 15 years scaling a national logistics and digital infrastructure platform for resale.
In this episode James describes why the company decided to handle physical goods rather than act as a pure marketplace, how ThredUp helps brands run their own resale channels, and how AI and automation are reshaping their operations. James also describes related public policies like extended producer responsibility (EPR) and provides advice for those pursuing careers in circular economy innovation.
Designing for Circularity at Scale: A Conversation with Karen Pflug of Ingka Group (00:46:27)
In the latest episode of Climate Rising from Harvard Business School, Karen Pflug, Chief Sustainability Officer of Ingka Group (IKEA), shares how IKEA is embedding circularity throughout its business model.
She discusses how IKEA is redesigning iconic products like the Billy bookcase to make them easier to disassemble and repair, how secondhand retail pilot programs at IKEA stores are reaching new customers, and how investments like RetourMatras are developing circular solutions for end-of-life mattresses. Karen also describes how policy, design, and customer nudges can accelerate circularity at global scale—and offers advice for those seeking careers in circular economy innovation.
Advancing the Circular Economy: A Conversation with Lauren Rodriguez of Closed Loop Partners (00:41:45)
Lauren Rodriguez, who leads partnerships at Circular Services, a Closed Loop Partners company, joins host Mike Toffel to discuss building the infrastructure and investment models needed to scale the circular economy.
Lauren explains how Closed Loop Partners supports the transition from a linear to a circular economy through capital management, innovation initiatives, and operating companies like Circular Services. She shares how their private equity, venture capital, and catalytic credit strategies are helping scale recycling, reuse, and circular supply chains.Lauren also explores the critical role of policy—especially extended producer responsibility(EPR) laws—in driving investment and highlights emerging technologies like AI-powered waste stream analysis and autonomous electronics disassembly that are accelerating progress. She closes with advice and resources for students and professionals interested in careers at the intersection of circular economy, investing, and innovation.
Scaling Reuse with Vytal: A Circular Economy Conversation with CEO Fabian Barthel (00:44:49)
Fabian Barthel, Co-Founder of Vytal, a circular economy packaging-as-a-service startup, joins host Mike Toffel to explore the innovation, behavioral science, and regulations shaping the market for reusable containers for take-out food and beverages.
Fabian shares how Vytal is tackling packaging waste by building a reusable container system for restaurants, canteens, and major events. He explains why deposit-based systems often fail, how Vytal’s “borrow and return” model changes consumer behavior, and how data, technology and behavioral science underpin their service design. Fabian also discusses the evolving regulatory landscape, including Germany’s reuse mandates and emerging municipal single-use taxes. He closes by offering advice to circular economy entrepreneurs about how to align impact with profit.
Carbon Credit Ratings and Market Integrity: A Conversation on the Calyx Global Case (00:41:21)
In this bonus episode of Climate Rising, we share an episode from Harvard Business School’s Cold Call podcast, featuring HBS professor Mike Toffel and Duncan van Bergen, Co-Founder of Calyx Global. The discussion focuses on Mike’s recent HBS case study, Calyx Global: Rating Carbon Credits, which explores how the company is helping improve transparency and credibility in the voluntary carbon market. Mike and Duncan join host Brian Kenny to unpack how Calyx Global evaluates carbon credit quality, how the company maintains independence in a space vulnerable to conflicts of interest, and how data and technology—from satellite sensing to AI—are transforming how carbon credits are verified and rated. The conversation also highlights key themes in the voluntary carbon market, including the tension between financial models and credibility, the challenges of measuring impact, and the broader implications for corporate climate action.
Investing in Carbon Markets: A Conversation with Luke Leslie of Key Carbon (00:41:26)
Luke Leslie, Co-Founder and CEO of Key Carbon, joins Climate Rising as part of our series on voluntary carbon markets. Luke has spent over 20 years in carbon markets and finance, working in investment banking, private equity, and structured finance.
Luke explains how Key Carbon is financing high-integrity carbon projects and how new overlaps between the voluntary and compliance carbon markets are at the center of their investment strategy. He provides a “climate finance 101” introduction and discusses the role of investors in the carbon credit space, how structured finance can scale climate solutions. Luke also describes how investors source and evaluate carbon projects, the risks of over-crediting, and the future role of biodiversity markets. Finally, he offers career advice for those interested in climate finance.
Navigating Carbon Markets: A Conversation with Alexia Kelly of High Tide Foundation (00:56:17)
Alexia Kelly, Managing Director of the Carbon Policy and Markets Initiative (CPMI) at theHigh Tide Foundation, joins host Mike Toffel for the fifth episode in our series on voluntarycarbon markets. Alexia has worked for nearly two decades atthe intersection of carbonmarkets, policy, and finance, with roles spanning government, private industry, andnonprofits.
In this episode, Alexia discusses how voluntary carbon markets are evolving, the criticalrole of policy in shaping carbon finance,and how standards and governance can improvemarket integrity. She also explores how advances in digital technology, data transparency,and AI-driven monitoring are transforming carbon credit verification and marketconfidence. Additionally, she shares herperspective on the integration of voluntary andcompliance markets, including recent developments in Article 6 of the Paris Agreement.Alexia also offers career advice for those looking to enter the field and shares resources forstaying informed on carbon markets and climate finance.
Enhancing Integrity Standards in Carbon Markets: A Conversation with Amy Merrill of ICVCM (00:40:29)
Amy Merrill, CEO of the Integrity Council for the Voluntary Carbon Market (ICVCM) joins host Mike Toffel in this fourth episode of the Climate Rising series on voluntary carbon markets. Amy has extensive experience in carbon markets, including leading negotiations on Article 6 of the Paris Agreement and advising on global carbon finance.
Amy explains how ICVCM uses a multi-stakeholder approach to enhance the integrity of carbon credits, including by developing ten Core Carbon Principles (CCPs) and using them to evaluate and strengthen carbon credit programs and methodologies. She discusses the challenges in ensuring credit quality and how the boundary is evolving between voluntary and compliance markets. Amy also shares her insights into the latest trends in carbon markets and offers advice for those interested in learning more about these topics.
Strengthening Carbon Claims via the Voluntary Carbon Markets Integrity Initiative (VCMI): A Conversation with Mark Kenber (00:52:30)
This episode, the third in our series on Voluntary Carbon Markets, features Mark Kenber, Executive Director of the Voluntary Carbon Markets Integrity Initiative (VCMI). Mark has worked in carbon markets and climate finance for nearly three decades, with experience at organizations like WWF, The Climate Group, and Fundación Natura in Ecuador.
Mark describes VCMI’s mission to provide guidance for companies and other non-state actors on how to credibly use carbon credits as part of their climate commitments. He discusses the current challenges and opportunities in voluntary carbon markets, the role of businesses and governments in ensuring integrity, and how emerging trends—such as the blurring lines between voluntary and compliance markets—will shape the future. Mark also shares career advice for those interested in working in carbon markets and climate finance.
The Potential and Challenges of the Voluntary Carbon Market (00:54:59)
Our second episode on the voluntary carbon market is a bonus episode of a panel discussion recorded at Harvard Climate Action Week in 2024. Harvard Kennedy School Professor Joe Aldy
moderates this discussion with Nat Keohane from the Center for Climate and Energy Solutions, Donna Lee from Calyx Global, UC San Diego Professor David Victor, and Carolyn Weinberg, formerly of Blackrock. Together, they bring perspectives from policy, business, and academia. The conversation explores the role of voluntary carbon markets in mobilizing finance for decarbonization, ensuring the integrity of carbon credits, and scaling high-quality projects. They also discuss emerging standards, innovative financial products, and how companies can leverage VCMs to achieve net-zero goals while addressing climate risks.
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