How should Climate United deploy large-scale public capital to catalyze private investments and market transformation in underserved clean energy sectors while maintaining financial discipline.
How should Climate United deploy large-scale public capital to catalyze private investments and market transformation in underserved clean energy sectors while maintaining financial discipline.
In April 2024, Climate United, a nonprofit coalition, was awarded nearly $7 billion by the US Environmental Protection Agency’s national Clean Investment Fund. This award positioned the organization as a leading institution tasked with reducing greenhouse gas emissions and reshaping how climate finance flows into underserved communities in the United States. As Beth Bafford, CEO of Climate United, prepared to deploy the first tranche of capital, she faced critical strategic choices. Early investments, such as a university-scale solar project and a zero-emission truck leasing program, tested whether public capital could lower structural barriers and establish credible performance benchmarks. However, their near-term ability to generate market returns was unlikely. In this case, students are asked to assess how Climate United should balance financial discipline with catalytic ambition. Students must consider how to measure success when the goal is not only to deploy capital for financial returns but also to have a transformative impact on capital markets.