Deforestation and carbon credits in the Amazon
Small Steps Vol. 83: Sustainability vs exploitation š³; what VCs can learn from the Matildas ā½; and the evolution of impact investing ā»ļø.
āThe most powerful force ever known on this planet is human cooperation ā a force for construction and destruction.ā
ā Jonathan Haidt
Kick start
š The Amazon Summit in BelĆ©m, Brazil, has brought together the 8 South American countries that share the worldās largest rainforest to address deforestation, illegal mining, and climate change, in a significant step toward regional cooperation. The Amazon is a huge carbon sink and therefore an essential buffer in the global fight against the climate crisis, but will likely soon cross an ecological tipping point if urgent action isnāt taken.Ā
Brazil initiated the summit, urging neighbouring nations to establish a joint commitment to combat deforestation and ecological threats, and Colombia has called for the creation of an international court to punish environmental crimes committed in the Amazon. Brazil has also committed to zero deforestation by 2030, with the upward trend having reversed in 2022.Ā
The summit has also drawn attention to the role of carbon markets in the Amazonās climate solution. Indigenous communities in the region are cautiously engaging with carbon credit companies in the hope of securing their land from deforestation risk, but some have expressed concerns due to alleged pressure, harassment and lack of transparency from companies. Exploitation risk is heightened by the absence of robust state presence in the Amazon, leaving many communities vulnerable to significant power imbalances in negotiations.Ā
Leaving aside the question of carbon marketsā ideal place in combating the climate crisis (given that offsets will never be as effective as genuine carbon reduction), this is a timely reminder of the importance of properly considering the very real human impacts of carbon credit projects on the Global South. You can read this BBC article for more detail.Ā Ā
What weāre thinking about
ā½ Leaving money on the pitch. Despite being tragically knocked out of the World Cup on Wednesday night, the Matildasā success has captivated the nation and done incredible things for the visibility and prestige of womenās sport. Although the link between these national heroes and VC funding may not seem clear at first, Techstarsā Kirstin Hunter draws an analogy between the foresight and investment it has taken to get the Matildas to this point, and how the same needs to be done to level the playing field for women founders in the startup world.Ā
The fact that the Matildasā quarter-final against France last Saturday drew the largest audience for any sporting event since Cathy Freemanās gold medal race at the Sydney Olympics has taken years of brand building, positioning soccer as an alternative to watching the footy or the rugby, and sponsoring players to help them reach elite levels. We need put the same kind of long term investment and support into women founders if we want to level the playing field and enable them to get past the grassroots level in their sectors as well.Ā
šÆ The evolution of impact. Tractor Ventures have pulled together this great summary of growth in the impact investing space over time and have profiled some outstanding impact founders in the community. Check it out for their commentary on the shifting narrative around impact and case studies on startups who are doing it well.Ā
New paths
š» MoreGoodDays is hiring a Business Ops / Product Ops Lead in Melbourne (hybrid).Ā
š„ Seer Medical is hiring a Finance Manager (Manufacturing) in Melbourne.Ā
š Perx Health is after an Enterprise Marketing Associate (NYC/remote).Ā
š“ Terra.do is looking for an Australian Country Manager (remote) to help it build the worldās largest platform for climate work. Their mission? Get 100 million people to work directly on climate in this decade.Ā
š„ Also, check out our Giant Leap Fund jobs board for over 80+ available positions or fill out our expression of interest form. Thereās even more jobs at ethical companies on the global B-Work job board.
Giant leaps
š¦ Sendle CEO James Chin Moody was recently profiled in the AFR as a past winner of the AFR BOSS Young Executive Awards, looking at where these leaders are now. Jamesās advice? Budding entrepreneurs must love the problem they are trying to solve and connect it to a deeper purpose to be successful.
š§» Who Gives A Crap has officially received the pop culture seal of approval, having made it as Charlotte from Sex And The Cityās toilet paper of choice. From the mean streets of Melbourne all the way to NYC - canāt beat that!
For the road
āļø Calling all ambitious Black and Women of Colour early stage founders! Expressions of Interest are now open for Cohort 2 of the Anyone Can Start program, commencing in October 2023. Run by our friends at The Creative Cooperative, the program offers a transformative experience for Black and Women of Colour entrepreneurs. The 6-week immersive program is free for successful applicants, thanks to full scholarships funded by the Victorian Government ā and thereās also a $10k pitch prize up for grabs! Join to hone your skills, refine your ideas, and drive your startup toward success.Ā
š The shift toward gender investment transparency continues. As we highlighted in our last edition, a long list of Australian VC funds have recently committed to publicly reporting on the proportion of venture funding going to women-led startups. Itās been great to see the important issue of closing the gender investment gap getting media air time ā including in Forbesā write up this week on some of the leading women-owned and operated VC funds in Australia.Ā
š©āš¼ Flying Fox Female Founders Program. Flying Fox Ventures have launched their inaugural pre-accelerator program for women founders in Victoria. The program is on a mission to increase the number of women founders launching companies in Australia and increase the quality of women-founded businesses, to ultimately help close the gender investment gap. The program will run 1 evening per week over 12 weeks, followed by 6 months of mentoring. Ready to go all in? Apply here.Ā
š Curious about transitioning into climate tech? Startmate has opened applications for the second cohort of its Climate Tech Fellowship ā an 8-week program designed to help ambitious people make the leap into climate tech. Across the program, Fellows will learn from leading climate tech founders, operators and investors across ANZ and build a strong network of like-minded peers and experts who are all dedicated to being a part of the solution. Check out more info (or dive right in and apply) here.Ā
š Sydney climate co-working. EnergyLab has space for new climate tech focused startups to join their coworking community in Sydney! Their mission is to ensure Aussie startups at every level have the resources they need to decarbonise our economy, meet like-minded companies, and thrive in an efficient workspace. If youāre interested in checking out their great space in Chippendale, Sydney, fill out this quick 1-minute form here.Ā
š§Æ Bushfires and brain health. While no amount of air pollution is good for your brain, new research from the University of Michigan suggests that airborne particles from wildfires and agriculture and farming may be particularly toxic to cognitive health and can make the brain susceptible to dementia. While further research needs to be done to confirm these effects, itās a not-so-friendly reminder of the multi-layered impacts that the climate crisis is going to have on our lives.Ā
šŖø Marine heatwaves threatening our reefs. A marine heatwave spanning over 2,000km of the Queensland coast has sparked worries about the Great Barrier Reef's coral health and marine life. Experts fear that prolonged elevated temperatures could lead to increased coral disease and strain on fish populations, impacting the ecosystem.
šø $10k women in business grant. Applications are now open for the SPARK Women in Business Grant. SPARK is on a mission to help women in business grow their profit and impact, by creating the resources, insights and community for women to shortcut their success.Ā
š Is the IPO market reawakening? According to this write-up in the AFR, local fund managers are cautiously optimistic about the reopening of the IPO market. While theyāre buoyed by positive indicators, they still await the outcome of Arm's $15.4 billion US listing to confirm the end of the drought. Alium Capital's research suggests that Australian tech IPOs could resurface in early 2024 following an 18-month pause, citing Arm's Nasdaq debut as a pivotal catalyst.
Save the dateĀ
š 22 August: Applications close for x15 Venturesā Xcellerate Program23 - Xccelerate is an expedited investment process that helps early-stage founders understand the pathway to partnering with a large corporate, like a bank. Suitable for pre-Series A climate tech and circular economy startups. Apply here.Ā
š 29/30 August: Mindset Healthās Depression, Anxiety & Hypnotherapy Workshop - a live event with Dr Michael Yapko. A two-day immersive workshop suitable for all healthcare professionals interested in mental health - CPD available. Register here.Ā
š 29 August: Early-bird applications close for Startmateās Climate Fellowship. Apply now.Ā
š 30 August: Climate Salad x Terra.do - Australia Climate Job Fair (virtual). Join for their first Australia-focused job fair with exciting climate companies and organisations who are hiring Down Under. Free for candidates to attend. Register here.Ā
š 1 September: Applications close for the SPARK $10k Women in Business Grant. Apply now.