Our ‘Navigating Climate Risks’ fireside chat on January 9th with Shivaram Rajgopal, Kester and Byrnes Professor of Accounting and Auditing, of Columbia Business School and Anjali Bansal, Founding Partner of Avaana Capital, untangled the complexities surrounding climate risk management, emphasizing innovation, finance, and sustainability metrics.
Prof. Rajgopal highlighted the need for updated accounting models to capture intangible contributions like R&D and societal benefits, emphasizing the integration of "values and value" for sustainable growth. He also discussed global ESG challenges and the impact of political polarization in markets like the US.
Ms. Bansal discussed India's growing innovation and technology startup ecosystem. She highlighted Eeki Foods's groundbreaking climate-resilient technology to grow vegetables at industrial scale, using 80% less water while delivering four times the yield, sold at competitive prices in local markets. She also cited Dharaksha Ecosolutions's circular economy model that transforms agricultural waste into sustainable mycelium-based packaging.
Bansal pointed to financing hurdles in climate adaptation and mitigation, especially in developing countries. She added that measurable, systematic strategies are required to support innovation and provide accessible climate financing to those who need it most.
She stressed the importance of blended finance models to provide equity and debt to scale effective climate solutions.
Both speakers highlighted financial constraints faced by companies adopting sustainable alternatives due to consumer price sensitivity and shareholder demands for short-term gains. They called for stronger state involvement, climate financing, and governance to address rising air quality concerns and decarbonization efforts.
You can read the media coverage for the event here
