2150 today announces a series of new appointments as part of a renewed approach to measuring the overall impact of its €270m fund and the companies in which it invests.

Peter Hirsch has joined 2150 as Head of Sustainability. A key part of his role is to lead its impact investment due diligence and to expand the 2150 framework for measuring impact in a meaningful way. The framework will be used to measure, track and report on impacts at both the investment and portfolio level using  a set of dimensions that will be weighted and combined to determine a final aggregate score.

It is designed to build on industry best practice, incorporating considerations from the EU’s Sustainable Finance Disclosure Regulation (SFDR), the EU Taxonomy on Sustainable Finance, the Task Force for Climate-Related Financial Disclosures (TCFD) and the Multilateral Development Bank’s approach to alignment with the Paris Agreement.

“Some organisations are focusing on CO2 as an impact threshold for investment. While 2150’s mission is to look for ‘Gigacorns’ - organisations with solutions that can mitigate billions of tonnes of GHGs and benefit billions of individuals - we cannot focus solely on carbon and still achieve the goals of the Paris Agreement. ” Peter Hirsch explains.

“Our approach roots itself in alignment with the Paris Agreement and EU Taxonomy on Sustainable Activities to define thresholds for investment. This comes from, in part, 2150’s position as one of the few Article 9 VC funds under the EU’s SFDR. Volumes of emissions reductions still play a critical role in our decision making, but are considered alongside promotion of climate resilience, a transition to a circular economy, contributions to social outcomes and other sustainability objectives. In this way, we hope to be able to support the companies and solutions that will enable our transition to net-zero, while contributing to wider sustainability objectives. ” 

Also joining the team as an Investor is ex Barclays VP of sustainable impact capital and UKRI - Innovate UK Non-Executive member, Margarita Skarkou. At Barclays she spent more than six years focusing on wellbeing and sustainability tech investments, corporate finance and ESG. Margarita trained as a civil and environmental engineer and brings a valuable mix of skills and investment experience to the team. Working alongside Peter, she and other members of the 2150 team will ensure the impact framework is applied prior and post- investment to maximise the impact of each company and the portfolio.  She will also be responsible for reviewing and advising on 2150’s sustainability policy.

Margarita Skarkou comments “Every part of our built world now faces growing pressure to meet challenging, but essential, emissions reduction targets, and 2150 is dedicated to helping meet that challenge, through technologies that have measurable impact. As we expand our current portfolio, our expanded due diligence framework will be central to our investment thesis to ensure that we’re driving tangible change with every investment we make.”  

 

The team will also be supported by a fresh intake of analysts, including Nayreen Akhtar, a former analyst at Rothschild and associate at BGC Partners.  Nayreen joined the 2150 team through Future VC, an internship and development programme looking to improve diversity and inclusivity within the Venture Capital Industry. She will be responsible for deep analysis, due diligence and regular liaison with founders. In addition she is developing her own investment thesis focused on carbon credits and their relation to voluntary and mandatory carbon markets.

Christian Jølck, Partner at 2150, said: “2150’s focus from the outset has been on technologies that can directly address the resilience, efficiency and sustainability of cities and we will only invest where sustainability impact is significant. The new additions to our team and the policies and frameworks they’re helping us build are vital to the ongoing success of that mission and we’re delighted to have them on board.”

About 2150

2150 is a venture capital firm investing in technology companies that seek to sustainably reimagine and reshape the urban environment. 2150’s investment thesis focuses on major unsolved problems across what it calls the ‘Urban Stack’, which comprises every element of the built environment, from the way our cities are designed, constructed and powered, to the way people live, work and are cared for. Find out more at www.2150.vc and follow us on twitter here.