23 generalist and climate-focused venture firms joined the Venture Capital Alliance (VCA), an initiative aimed at reducing emissions at VC firms and their respective portfolio companies.
VC firms will need to achieve net-zero emissions by 2030, while their portfolio startups will need to have net-zero emissions by 2050.
Founding members of the VCA include Tiger Global, DCVC, Prelude Ventures, Energy Impact Partners, Capricorn Investment Group, S2G Ventures, Union Square Ventures, World Fund, and 2150.
- Per Crunchbase, the VC firms in the alliance collectively have $62.3B in assets under management.
- Generalist VC firms must ensure their portfolio startups reach net-zero emission targets by 2050 by decarbonizing their operations.
- VCs will need to ensure that climate-tech investments have the potential to save at least 100 megatons of carbon dioxide emissions.
- The alliance is placed under the Glasgow Financial Alliance for Net Zero (GFANZ) — a group formed during the COP26 climate conference — and is a part of the U.N.-approved Race to Zero campaign.
