Reduce, reuse and recycle was a helpful way to think about limiting personal impact on the planet (along with the handy advice to take nothing but photos, leave nothing but footprints).
And it seems corporations are taking up the mantra as their venturing units increasingly focus on sustainable development goals.
Most recently, Germany-based consumer technology subscription platform Grover has raised $1bn in debt financing to add to April’s series B equity round from Samsung Next among others.
The company offers users consumers electronics, such as Samsung phones, to rent and then reuse saving about 1,400 tonnes of waste.
Meanwhile, Amazon Climate Pledge Fund has reinvested in the battery recycling services provider Redwood’s $700m round at a reported $3.7bn post-money valuation and UK-based all-inclusive electric vehicle (EV) subscription service Onto has raised $175m in a combined equity and debt series B round including from oil major TotalEnergies, industrial group Vlerick Group and Netherlands-based insurer Achmea’s Innovation Fund.
And more such deals are likely to come. Private equity firm TPG has raised $5.4bn for its TPG Rise Climate fund with a hard cap of $7bn and existing commitments from 20 or so corporations, including Alphabet, Bank of America, Dow, General Motors and Nike.
Earlier in the month, private market investor General Atlantic created a strategy focused on climate change that is reportedly looking to raise about $4bn.
According to Pitchbook, investors around the world have already closed as many climate-focused funds, such as $7bn for Brookfield Asset Management’s carbon neutrality fund, as were raised in the past five years.
