Peter Davidson: Matchmaking Capital With Climate Investments
(Bloomberg) November 10, 2015 — As a former investment banker and overseer of the Energy Department’s loan programs office, Peter Davidson is used to facilitating big deals. But his latest gig comes with a sizable dose of urgency: helping unleash the financing needed to save the planet.
The International Energy Agency estimates it will require around $40 trillion additional investment dollars by 2035 if the world has a chance of avoiding the most catastrophic impacts of climate change. Aligned Intermediary, Davidson’s new group, is a matchmaker between pension funds and other long-term investors and clean-energy projects the world over. It already is working to match $1.2 billion in capital, including $500 million from the Regents of the University of California, with the right projects.
“We need an incredible amount of money over the next 20 years,” said Davidson, CEO of the recently formed entity. These “are things we need to do to achieve the greenhouse-gas targets, but they also will be some of the fastest growing industries over the next 20 years.”