Photo illustration: Gabriella Turrisi/Axios. Photo: courtesy of General Atlantic
Lance Uggla is the newly appointed CEO of BeyondNetZero, a climate venture fund from PE giant General Atlantic.
Why he matters: Prior to BeyondNetZero, Uggla founded data company Markit and went on to run IHS Markit as CEO following the merger. IHS Markit was bought by S&P in February for $44 billion.
- Few firms have the capacity to back growth-stage climate tech startups and push the industry towards rapid maturity like General Atlantic. To date, BeyondNetZero has invested more than $400 million in just three companies: vertical farming company 80 Acres Farms, recycling software maker RoadRunner and supply chain software company o9 Solutions.
What was this week’s big story?
- This week’s inflation data in the US, driven by low unemployment coupled with rising energy prices, confirms to me that we are in a very disorderly market, which will have an impact on the pace of the net zero transition.
What do you feel is being under-covered or under-noticed?
- The degree of climate innovation taking place all around the world, which will be critical to a successful net zero transition. People tend to focus on negative developments, but there are so many exciting innovations in progress that make me optimistic.
What are you most closely following?
- I am always very focused on the intersection of geopolitics with the need for energy transition – how countries around the world are responding to climate change in the face of both rising energy prices and geopolitical dynamics.
In three words, what one change would you make to accelerate investment in sustainable energy/climate tech?
- Support global entrepreneurship.
