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Nov. 14 — Environmental credit risk has doubled for a large portion of high-emitter industries since 2015, a Moody's report found.

Why it matters: Moody's identified 16 industries that collectively hold roughly $4.3 trillion in rated debt that are most exposed to environmental risks, Megan reported.

Read the rest of this story and Monday's Climate Deals newsletter 

Plus: Monday's Pro Rata, on a now-resonant conversation Dan Primack had with Sam Bankman-Fried

1. High emitters double credit risk

Illustration of a smoke stack with a cork in it. 

Nov. 15 — EV Realty, based in San Francisco, raised $28 million in an all-debt deal to build charging depots for vehicle fleets, Alan wrote.

Why it matters: EV Realty is aiming to become the go-to hub for companies seeking large, centralized charging depots to quickly electrify delivery vans and work trucks. 

Read the rest of the story and Tuesday's Climate Deals newsletter 

Plus: Tuesday's Pro Rata, on the FTX fracas and Berkshire's semiconductor play

2. Going electric, one depot at a time

Nov. 15 — Waste management startup RoadRunner Recycling raised $20 million from Fifth Wall's Climate Fund, the company exclusively told Megan.

Why it matters: The cash going to the Pittsburgh-based company spotlights investor interest in bringing online the largely analog world of corporate waste management. 

3. RoadRunner Recycling gets $20M from Fifth Wall

Roadrunner sculpture made from salvaged items. Photo: Jim Lane/Education Images/Universal Images Group via Getty Images

Nov. 16 — The Houston-based company Syzygy Plasmonics raised $76 million for technology it says can mass-produce chemicals from light, Alan reported.

Why it matters: Chemicals manufacturers currently use heat and pressure to make chemicals — an energy-intensive process. 

Syzygy's founders say their light-based tech is cheaper and cleaner — and it's drawn sizable investments from the oil and chemicals conglomerates it hopes to convert into customers.

Read the rest of this story and Wednesday's Climate Deals newsletter

Plus: Wednesday's Pro Rata, on Blackstone CEO Steve Schwarzman's rejection of Donald Trump

4. Light chemical romance

Nov. 16 — Startup app Fennel raised $5 million on its pitch to make ESG investing and shareholder engagement easier for retail investors, Megan reported.

Why it matters: ESG investing is under fire from conservative camps, but the investment area continues to pull inflows from younger investors eager to build a portfolio of companies focused on climate change and diversity, equity and inclusion. 

5. ESG-focused investment app raises $5M

Nov. 17 — Tenet, a startup offering loans for EVs and home electrification upgrades, secured $25 million in a first-of-its-kind warehouse facility from NY Green Bank, the company exclusively told Megan.

Why it matters: Climate technology companies remain relatively insulated from credit market volatility.

Read the rest of this story and Thursday's Climate Deals newsletter

Plus: Thursday's Pro Rata, on SBF's DM slide interview

6. Tenet secures $25M warehouse facility

VC firms increasingly see communications as a way to help their investments stand out from the competition, Eleanor Hawkins writes in Axios Communicators.

Why it matters: Telling a good story — instead of buying one through ads — can be a cost-effective move in a challenging economy. 

State of play: When pencils are up, communications can be an essential tool for growing your business, says Allison Braley, Bain Capital Ventures' first marketing partner.

"You're not going to see companies spend a lot of money on paid ads. Instead, you will see startups turning to their VCs and saying: How can you help me grow without spending as much? And that's where having a truly excellent comms function at the VC level can help," Braley told Axios.

Flashback: With Margit Wennmachers at the helm, Andreessen Horowitz was arguably the first to use PR to enhance brand awareness before it had years of financial performance to show off.

Read the rest of the venture-focused edition

7. 🦄 Comms in venture land 

Illustration of a tin can phone in the shape of a downward trending arrow.  

Happy Friday! Below are highlights from the week, plus an outtake and a shoutout to our new newsletter for comms pros. Let's go. 

Thank you for reading us this week. Tell your climate colleagues and friends to sign up for this newsletter. 

November 18, 2022

1. High emitters double credit risk