One of the many things that makes Energize unique as an investor is our hands-on and team-oriented approach to investments. Since day one, it has been a priority for us to secure a board seat (and sometimes more than one) with each company we invest in. Why? We want to have a direct role in helping our companies make informed decisions that support growth, navigate business development in energy and sustainable industries, and represent all stakeholders in the company. While the board seat holder takes the lead, the entire Energize team is engaged and committed to helping our portfolio companies grow.
We are now thrilled to share the news that Energize partner Katie McClain will be joining the board of directors of our portfolio company Jupiter Intelligence, the leading climate risk analytics firm. We have been working closely with the Jupiter Intelligence team since our initial investment in 2019, and the company is experiencing exciting growth right now driven by new government leadership and increased prioritization of climate change. Her background in policy combined with her operations experience and deep understanding of renewable energy makes Katie a valuable addition to Jupiter’s already-stellar board.
“Climate resiliency has always been a focus for me — both personally and in my career,” said Katie, who began her career working for the Clinton Foundation, helping cities around the world build out climate action plans, reduce emissions and build resiliency. “I have experienced firsthand how important it is for asset managers to quantify and mitigate climate risk — and with Jupiter’s technology, now they can predict physical impact caused by extreme weather events in 5, 10, and even 50 years out. This is the future of climate resiliency.”
Jupiter is the market leader for climate risk analytics in key industries, including insurance, banking, asset management, real estate, energy, utilities and power, oil and gas, manufacturing, chemicals, mining, retail, agriculture, the public sector, and NGOs. Their best-in-science solutions deliver climate risk analysis of multiple perils, in spatial resolutions from portfolio to asset level, globally and across flexible time horizons and climate scenarios.
And predicting climate risk has never been so important, as climate-driven weather disasters affecting critical infrastructure are increasing in frequency and magnitude. In 2020, there were 22 separate billion-dollar climate and weather disaster events, topping $95 billion in total costs, according to the National Oceanic and Atmospheric Administration (NOAA). That figure is up from 14 disasters in 2018.
“The science of climate change sometimes gets lost in the passions of political debate, despite the clearly visible fact-based reality,” said Rich Sorkin, founder and CEO of Jupiter. “The Biden administration is re-engaging on climate-related issues, and Jupiter, as the undisputed leader in the field of climate risk analytics, will play a key role. Katie brings a terrific wealth of experience in navigating public policy issues, especially in the Energy sector, and we are excited to welcome her to our board of directors.”
The climate crisis demands more from critical infrastructure sectors and government to enhance emergency preparedness, planning and resilience to reduce the risks of impacts from extreme weather that touch nearly every urban and rural area of the nation. Fortunately, financial institutions, insurance companies, regulators and corporations are all coming to realize that we have to take action today. The decision to take climate action is no longer optional — it now directly affects a company’s bottom line. Just this week, the SEC announced it will update its guidelines on how publicly traded companies should disclose climate change-related risks to investors.
“Driven by recent extreme weather events and increasing prioritization of climate initiatives across public and private sectors, companies of all sizes are recognizing the need for better tools to predict the physical impact of climate change on their business,” said John Tough, who has represented Energize on Jupiter’s board since 2019. “Having worked in energy, policy, operations and technology, Katie brings unique insights into climate-related issues that will help Jupiter navigate and manage their tremendous growth in revenue, commercial partners, federal opportunities and sales pipeline.”
John Tough will continue supporting Jupiter in building and maintaining relationships, especially in the energy sector, after he transitions of the company’s board
“Energize continues to help us accelerate Jupiter’s progress in strategic areas. We are excited to welcome Katie to our Board of Directors.” said Rich.
