Galvanize Climate Solutions

Today, Galvanize Real Estate (GRE) announced its second building acquisition in its profitable decarbonization strategy...and it comes with a unique story. “One Gateway is a particularly exciting acquisition: the property is in need of a roof replacement but has an aging solar array. We believe this building would have been transitioned away from renewable energy sources and we are excited to give it new life,” said Nicolette Rabadi Jaze, Head of ESG & Sustainability, GRE. Learn more about the team’s plans to profitably decarbonize the property here: https://lnkd.in/eqsKa4WJ

“To accelerate profitable decarbonization, we need to all be climate capitalists. Capitalism will win,” Joseph Sumberg noted in his keynote at HOOPP (Healthcare of Ontario Pension Plan) earlier this week, where he shared more about the opportunity Galvanize Real Estate sees in acquiring inefficient assets and investing in their decarbonization as part of a traditional value-add strategy. While the session was closed door, you can read more about Galvanize Real Estate's strategy in its most-recent press release: https://lnkd.in/daxeSRHh

🚨 Add this to your summer reading list 🚨 Our co-executive chair Tom Steyer wrote a book called Cheaper, Faster, Better for anyone looking to find hope in the face of the climate crisis. The book shares his perspective on why the climate transition is going better than most people realize, as illustrated through stories of the people and technologies driving today's change. As former US Vice President Al Gore notes, " Tom’s insights will help galvanize the movement that is needed to address the greatest challenge of our lifetimes.”— Order the book here: https://lnkd.in/ge8FSrRg

Innovation Expansion portfolio company Quilt proves that practical, economically viable solutions can improve the quality of life for homeowners while also driving the electrification movement forward ⚡ Congrats Paul Lambert and team! CC: Adele Peters for Fast Company https://lnkd.in/eN2wP7ba

Galvanize Real Estate is pleased to announce the acquisition of the first asset in its profitable decarbonization strategy. 6610 Amberton Drive is an 84,000 sq. ft. industrial asset in the Baltimore-Washington corridor, and one which we believe presents significant decarbonization potential through rooftop solar, mechanical upgrades, and other energy-efficient improvements. “I’m thrilled that GRE has made its first investment in the Baltimore-Washington corridor, a target market for us due to its strong real estate fundamentals and sustainability factors,” notes Joseph Sumberg, Managing Partner & Head of Galvanize Real Estate. “The team can’t wait to begin executing on our business plan, which will include profitably decarbonizing the property.” Read more about the property and our team's planned sustainability upgrades here: https://lnkd.in/daxeSRHh

🚨Bisnow reports that only a third of the world’s largest real estate lenders have set decarbonization targets. The rest, which hold $1T worth of real estate loans, have no clear plans to decarbonize—despite the fact that the sector contributes 40% of carbon emissions globally. 🚨 The “waiting for the future to arrive” approach carries inherent financial risk, according to Galvanize's Head of Real Estate Joseph Sumberg. This is why our real estate team is focused on decarbonizing the built environment now, identifying assets with high potential for profitable sustainability upgrades and leveraging our in-house science and technology experts to better understand how we can make the most impact. Read more from Maddy McCarty: https://bit.ly/4bcw63u

Start your Earth Day off right with us 🌎 Join Galvanize's Tom Steyer and Saloni Multani this morning for a conversation with SOSV and Po Bronson on how Galvanize sees climate investing in the months ahead. Plus, Tom will preview his upcoming book "Cheaper, Faster, Better: How We'll Win the Climate War." Its free, its virtual, and its a far better way to spend a Monday morning than digging through your inbox. Register here: https://lnkd.in/gFeAVWfF

Increase in power demand is shifting the energy supply mix in the US and accelerating the uptake of renewables⚡ In US, electricity demand at data centers could triple by 2030, catalyzed by the rise of AI, remote work, video streaming, and more. 🐂 Those who are bullish on the issue believe that "the money that has historically poured into oil and gas is going to pale in comparison to what potentially could exist on electricity." 🐻 Others are more skeptical, noting that "the real danger is not that we’ll run out of power. It’s that we’ll build too much of the wrong kind.” Regardless, demand for electricity, which has stayed largely flat for two decades and is now surging, means this chart will look vastly different in 10 years. Via Tim McDonnell / Semafor https://lnkd.in/dKVCHQ_B

It’s time for our homes to play a bigger role in the energy transition, supported by products that aren’t just electric and sustainable, but better in every way. Today's Series A is exciting news for our portfolio company Quilt as well as for the future of home electrification. Quilt offers homeowners intuitive room-by-room control, occupancy-sensing, and predictive technology that creates one of the most comfortable and efficient heating cooling system on the market. Visit Quilt's website to RSVP to the May 15th launch livestream for a first look at its product. https://lnkd.in/gaU3XkZi Energy Impact Partners Lowercarbon Capital Garage Capital Gradient Ventures MCJ Collective

A promise to reduce emissions does not necessarily mean that emissions reduction targets will be met–or that management teams have the appropriate incentives to drive the transition. 🎯 Approximately half of the world's largest 2,000 companies on the Forbes Global 2000 have established carbon emissions targets and pledged Net Zero targets. 🎯However, Gartner estimates that by 2026, as many as 80% of global enterprises with net zero goals will have to restate their interim milestones associated with these commitments. 🎯A Bain & Company survey of large corporations found that 75% of business leaders believed they were not effectively integrating sustainability into their businesses. 🎯As it stands, 24% of companies surveyed revealed they are not on-track for Scope 1 and 2 goals, and 35% have fallen behind on Scope 3 targets. Check out our recent report to learn more about why aligning executive compensation with corporate commitments represents a critical decarbonization lever: https://lnkd.in/grHaQt9b