Venture Capital Firms Launch New Alliance Pushing Startups To Eliminate Carbon Emissions

Twenty venture capital firms in the US and Europe have joined forces to create the Venture Climate Alliance, which aims to encourage early-stage companies to pursue net zero carbon emissions. The alliance will help drive a global transition towards net zero economies, enabling portfolio companies to enter and thrive in dynamic markets where climate will play a much greater role. The member firms will achieve net zero emissions in their own operations by 2030 and encourage portfolio companies to do the same by 2050. The initiative includes venture capital giants Tiger Global Management and Union Square Ventures and will be supported by climate finance advisory firm Great Circle Capital Advisors. The move comes amid pushback from lawmakers and the broader marketplace over the environmental, social, and corporate governance movement, also known as ESG. Skeptics contend that the investment philosophy intermixes political and social causes favored by executives, such as reducing carbon emissions or diversifying company leadership, in a manner that compromises or distracts from profitability. To stay up-to-date with the latest news, download the Daily Wire app today!