Commitment to Action:
This commitment will convene the top talent in the worlds of clean energy entrepreneurs, investors, and technologists to identify the impact of various clean tech companies in reducing greenhouse gas and to lay out a roadmap for how future development could result in dramatic reductions of greenhouse gases. This project will identify the most promising areas for investment that combine climate change impact with financial return.
Reducing greenhouse gas levels to below 1990 levels will require reducing man-made carbon emissions by about 10 gigatons per year by 2050. If the clean tech community can contribute 1 gigaton of that reduction, it will reduce the impact of climate change and make the transition to a low carbon future easier and less costly. By raising awareness in the community of the climate impact of their decisions, we can move towards a time when climate change is a major factor - perhaps the most important factor - in new investment decisions.
- Form a sponsorship committee to co-host the event.
- Identify volunteers to draft the resulting document; hire if appropriate or necessary.
- Convene a meeting of minds in the clean tech community in spring of 2008.
- Summarize findings on promising opportunities for GHG reduction via investment.
- Build a framework for further investigation and reporting by individuals and participating organizations.
- Plan, if appropriate, follow up meetings to evaluate the latest opportunities and directions.
Anticipated Launch: November 2007
First Milestone(s): Spring 2008 (target April)
Discussion and preparation of a document.
Participants in this Activity: Spring Ventures, TBD: Energy Innovations.
Measures of Success:
1. Better understanding in the cleantech community about their carbon impact and the value of incorporating greenhouse gas criteria into their investment decisions.
2. Increase in the number of funds, companies and individuals measuring the carbon reduction impact of their portfolios.
3. A roadmap for reducing GHG by 1 gigaton a year by 2055 via cleantech companies efforts.
4. Increase in the number of investors, entrepreneurs and technologists who commit to use GHG reduction as a major factor in their decisions.
Tom Kalil, the Chair of the CGI Global Health working group, was the first to propose an idea that would become the Gigaton Throwdown. CGI has helped bring together like-minded parties to make this commitment happen, and has also encouraged a deadline for action.