Capricorn Investment Group

“And so we've backed 25 firms over the last 15 years, a couple per year.”

“Very rarely are we dealing with a true emerging manager, if you will. More often than not, I think what's really exciting about what's happening in the world today is you have people with really strong technical skills and investment experience, and they're ma…”

“And in our view, those type of opportunities were really mispriced for the risk. It was a new asset class. And I think you were able to do that type of development and earn very high rates of return relative to the risk.”

“So divestment and climate solutions, in my view, deal with the two pillars, but about 80% are going to fall somewhere in between. How do you decarbonize a heavy industry? How do you decarbonize buildings and the built environment? Obviously transportation. And…”

“I think where we've had less success than we would have hoped is that things don't go exceedingly well early. People tend to gravitate back towards what's traditional and comfortable. It's always better just to press whatever advantage you think. So be as diff…”

“So we started there and Jan led an investment in Tesla.”

“About 60 to 70% of our portfolio is oriented towards strategies addressing climate change. About 20% is oriented towards financial inclusion and seeking different ways to get capital to undercapitalize entrepreneurs, businesses, segments of the economy, commun…”

“The goal was to build a different type of investment firm that wouldn't just support our clients' capital needs for philanthropy or other purposes, but actually activate the capital while we were managing it. So seek out high rates of return, but do so in such…”

“When we look at our overall portfolio, we have about a third of the carbon intensity of a similar sized global equity portfolio.”

“Nature-based solutions, natural climate solutions , I mean, that is very likely. It has to be part of the solution, and I think it will very likely be a burgeoning area, so we're spending a lot of time on the picks and shovels of it. So looking at project fina…”

“I think the impact space and ESG has done itself a disservice in how it prices its product. So you have these people that are trying to really have exceptional impact, and then they show up to talk to us and their fee load is egregious. And they don't quite un…”

“What's interesting is that still about 70% of our emissions in our portfolio are attributable to about 20 companies.”

“I think the ESG industry and complex deserves to be criticized, and one should have some cynicism about it. There's this wonderful chart showing ESG assets going up into the right, and then global emissions going up into the right, and so you do have to ask, w…”

“And I think early on, we probably weren't as aggressive in going more strongly towards climate and impact and maybe keeping a leg in some of the more traditional segments of the economy.”

“So a lot of that carbon in our portfolio comes from utility companies that are on a pathway to transitioning. If we're right, those companies will be ultimately more valuable in the future because there'll be better position. The cash flows will be capitalized…”

“Even in the private side where so much Of renewable infrastructure is priced. It's likely below our cost of capital. It may be more appropriate for pension funds or other large pools.”

“This hasn't yet happened in the energy transition, but I think because of what occurred in the last couple of years in the current environment that we're in, I think there's going to be a very interesting opportunity around distressed investing in clean tech, …”

“We have about 60% of the capital in various forms of equities, public and private, about 20% of the capital in real assets. Those real assets tend to be more contractual, more infrastructure-like, just because of the nature of what we're doing, so not nearly a…”