PitchBook-新兴的可持续投资机会：碳利用（英）-2023_市场营销策划_重点报告202301.docx

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1、Sr PitchBookPitchBook Data, Inc.John Gabbert Founder, CEONizar Tarhuni Vice President, InstitutionalResearch and EditorialDaniel Cook, CFA Head of Quantitative ResearchInstitutional Research GroupAnalysisOAnikka VillegasAnalyst, Fund Strategies & Sustainable Investing anikka.villegasInsights develop

2、ed in collaboration with John MacDonagh, Senior Analyst, Emerging Technology at PitchBook Data.DataAlyssa ViliamsSenior Data AnalystpbinstitutionalresearchPublishingDesigned by Caroline SuttiePublished on December 1 1, 2023ContentsKey takeaways1Introduction2Financial return potential3Environmental a

3、nd social Impact7potentialEmerging Sustainable Investing Opportunities:Carbon UtilizationHow carbon utilization can create a double bottom line of financial returns and positive social and environmental ImpactPitchBook is a Morningstar company providing the most comprehensive, most accurate, and har

4、d-to-find data for professionals doing business in the private markets.Key takeaways As usage of carbon capture technologies continues to rise, the question of what to do with captured carbon has grown more urgent, and carbon utilization is part of the answer. The financial return potential of this

5、opportunity is dictated in large part by carbon captures proliferation, government funding and regulatory support, challenges faced by its main alternative, and corporate sustainability commitments. Carbon utilization has the potential to create positive environmental Impacts by enabling a more sust

6、ainable lifecycle for captured carbon, providing lower- carbon substitutes for traditional products, and reducing reliance on an alternative that presents environmental risks in addition to social ones, creating a minor social Impact potential as well.IntroductionVenture capital, often serving as th

7、e incubator of emerging technologies, is well positioned to invest with positive social and environmental Impact goals in mind. VCs can draw on their expertise and resources to foster the businesses that have the greatest potential for both Impact and returns, especially when keeping an eye toward c

8、ompanies for which success necessarily marries the two. This fact has not gone unnoticed by VCs, which represent 42.7% of the total count of Impact funds raised since 2007. For more Impact fundraising data, read our Q4 2022 PitChBOOk AnalVSt Note: InlDaCt InVeSting Update. Yet, the landscape of pros

9、pective opportunities is expansive and rapidly evolving, making it difficult to keep track of which ones have the greatest financialand Impactreturn potential.Emerging opportunities often go beyond the investment areas traditionally associated with sustainability, such as solar energy or electric ve

10、hicles, encompassing a host of lesser-known technologies. Even within the familiar themes, there are niche investment opportunities developing. In this analyst note series, we surface opportunities across emerging technology verticals such as agtech, mobility tech, and carbon & emissions tech that w

11、e believe are poised to perform well within the next decade, from both financial-return and Impact-return perspectives. In doing so, we hope to help guide VCs pursuing the “double bottom line through the complex landscape to the most fruitful opportunities.For each analyst note in the series, insigh

12、ts are developed in collaboration with a PitchBook Emerging Technology Analyst covering the relevant vertical, using their subject matter expertise and previous research, as well as some external resources, to inform our perspective on the space. We discuss the opportunitys major drivers of return p

13、otential as well as the investment risks and obstacles it faces. We also explore its social and environmental Impact potential, how the opportunity fits into various IRIS+ Impact themes, The Impact Reporting and Investing Standards (IRIS+) framework, created by the Global Impact Investing Network (G

14、UN), is an industry-leading methodology aiding investors in sorting Impact investments by the different types of Impact they are targeting. You can learn more about the IRIS+ categories, what they include, and what they do not in IRIS+ ThematiC Taxonomv,“ Global ImDaCt InVeStinq Network, ADril 2023.

15、 and potential metrics to help quantify those Impacts. Ultimately, the aim of this research is to give VCs and their LPs a better understanding of how the opportunities align to their return and sustainability goals and provide companies operating in these spaces a sense of how to optimize and commu

16、nicate their social and environmental Impact.This analyst note focuses on carbon utilization, which encompasses a wide range of developing approaches to making use of captured carbon dioxide (CO2) and is the main alternative to carbon sequestration. Historically, CO2 was largely used in urea production and enhanced oil recovery, the latter of which involved pumping CO2 int