Illustration: Aïda Amer/Axios

2020 appears to be the year that Corporate America is serious about addressing climate change, but it remains unclear if venture capitalists plan to join the fight.

The big picture: Many VCs still have painful scars from the mid-to-late aughts, when they lost billions on investments in "cleantech" companies.

  • Those deals were largely based on a presumption that federal climate policy, if not also dollars, would move swiftly and strongly in a favorable direction. But that didn't really happen, and VCs became saddled with manufacturing-intensive businesses that they didn't really know how to properly manage.

To be sure, much has changed over the past decade. Renewable energy has become more price viable, there's a more comprehensive capital stack, and there's a wider supply of interested institutional capital (as opposed to before, when it was mostly fueled by a pair of large California pension plans).

But, but, but: I'm still not hearing much interest, outside of the few remaining survivors from the last go-around. And that's a big stumbling block, because fundamental climate solutions like carbon capture will rely on the very sorts of commercialized innovations that venture capital is charged with enabling.

  • And, for existing technologies that require greater deployment, both growth equity and private equity have key roles to play.

The bottom line: If Corporate America is really serious, beyond PR-laden lip service, then it must work to convince venture that it will be the change agent — particularly as a customer throughout the supply chain — that the federal government failed to be. It can be done, but it will take more than press releases out of Davos.

📷 Pro Rata Podcast digs into revelations that antivirus software company Avast has been selling the Internet browsing histories of its hundreds of millions of users. Listen here.

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Two officers shot in Louisville amid Breonna Taylor protests

Police officers stand guard during a protest in Louisville, Kentucky. Photo: Ben Hendren/Anadolu Agency via Getty Images

Louisville Metro Police Department said two officers were shot downtown in the Kentucky city late Wednesday, just hours after a grand jury announced an indictment in the Breonna Taylor case.

Driving the news: Metrosafe, the city's emergency services, said it received reports of a shooting at South Brook St. and Broadway Ave., near the area where protests were taking place. A police spokesperson told a press briefing the injuries of both officers were not life-threatening. One officer was "alert and stable" and the other was undergoing surgery, he said.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 31,778,331 — Total deaths: 974,436 — Total recoveries: 21,876,025Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 6,943,078 — Total deaths: 201,930 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Missouri Gov. Mike Parson tests positive for coronavirus — Poll says 51% of Republicans trust Trump on coronavirus more than the CDC.
  5. Technology: The tech solutions of 2020 may be sapping our resolve to beat the coronavirus
  6. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  7. Sports: Less travel is causing the NBA to see better basketball.
  8. Future: America's halfway coronavirus response

Biden: Breonna Taylor indictment "does not answer" call for justice

Former Vice President Joe Biden. Photo: Leigh Vogel/Getty Images

Former Vice President Joe Biden on Wednesday condemned the grand jury indictment of a Louisville police officer who entered Breonna Taylor's home in March in a botched drug raid that led to her death, saying in a statement the decision "does not answer" for equal justice.

The big picture: Biden called for reforms to address police use of force and no-knock warrants, while demanding a ban on chokeholds. He added that people "have a right to peacefully protest, but violence is never acceptable."

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