Green Margins

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Edition #139   •   19 Jun 2024    •   10 min read

A sustainability mafia to counter the carbon cartel?

At Suscrunch, it felt as though it was cool once again to start a venture, not just for money or valuation but for the sake of "saving us"

by Seema Singh

At Suscrunch, it felt as though it was cool once again to start a venture, not just for money or valuation but for the sake of "saving us"

Staggering insights about climate change and its impact on business, tech, finance and politics. Subscribe here

Good morning [%first_name |Dear Reader%],

This past Saturday, when some venture capitalists (VCs) were organising a “casual walk” in Bengaluru’s Cubbon Park for startup founders—slated to culminate in a “delicious breakfast” sponsored by the VC firm—some 200-odd startup founders, associates, and sustainability mavericks were assembling at the Leela Palace Hotel in the same city. 

For some reason, I can’t help but swap venues for the two gatherings in my mind. Hard charging VCs in a posh hotel and activism-minded startups in the park seem like the more normal pairings.

But I guess both groups had their reasons to assemble where they did. 

For the latter, I’m reminded of what Katharine Hayhoe writes in her bookSaving Us: A climate scientist’s case for hope and healing in a divided world. 

The gist of Hayhoe’s practical, positive tome is that people should talk a lot more about climate change and share why it matters. It’s important, she says, to “seek out like-minded groups: winter athletes, parents, fellow-birders or Rotarians” and have productive conversations about it. 

I didn’t spot birders or athletes at Leela, but there was energy and can-do spirit in the air. A contrast to what my colleague Praveen wrote in a thoughtful edition of The Nutgraf a few weeks ago, where he explained why “an entire generation of people inside startups [in India] are weary, tired, and see no purpose”. 

At Suscrunch, the sustainability event that 80+ startup founders under the rubric Sustainability Mafia organised this weekend, the purpose was writ large—in the auditorium, hallways, and dining space. Conversations here weren’t peppered with talk about big cheques and growth multiples. Instead, what we had was a variety of stories. 

Let me narrate some for you.

Para Divider

The politics of scale

Saurabh Kumar’s name may not ring a bell for many of us, especially those who don’t follow the energy sector, but he gets the credit for making LED bulbs ubiquitous in India. 

A former United Nations official, Kumar came to the public sector to create the Bureau of Energy Efficiency (BEE)—an agency under the Government of India’s power ministry. When he set out to replace incandescent and CFL bulbs though, he found few takers in governments for energy-efficient LED lights.

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