A VC going carbon neutral?

Major venture capital firm Bessemer Venture announces its own carbon neutral plan.

I have mentioned my friend Justin Label, one of the partners at Bessemer Venture, before. Among other things he writes the Venture Again Blog. Bessemer is a highly respected old-line Silicon Valley venture capital firm. It has been an active investor in clean tech for a while, and is a backer of Miasole as well as SV Solar. I found myself on a plane recently with one his colleagues, Ted Lin. More than its investments, Lin was describing to me a new carbon friendly initiative that Bessemer itself is undertaking internally.

Its logic is simple, if it is investing in clean tech because it believes in being part of the global warming solution, not only making money, then it should practice what it preaches.

While still in its early days, it is targeting both its power and travel usage, and expects it will likely implement an internal reduction plan as well as purchasing offsets.

I asked Lin where this came from, and he said this initiative has come down from the top of the firm. It makes sense, and it is good to see the activity happening. My hat is off to the company.

Lin also pointed out that Bessemer is going to be buying offsets for its smaller portfolio companies (those under 50 people). "The goal is that when these companies grow into bigger companies and leave the nest, they will continue the tradition. We want them (our portfolio companies) to lead the next-generation of environmentally responsible enterprises."

One of the things he did ask: did I know any good offset providers? As with any venture capitalist, the company is looking for the "best of breed." So if you are interested in helping Bessemer, e-mail Lin at Ted@bvp.com.

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About the author

    Neal Dikeman is a founding Partner at Jane Capital Partners LLC, advising the technology and venture arms of multi-national energy companies in cleantech. While at Jane Capital, he has cofounded superconducting technology company SC Power Systems, Inc. (now Zenergy Power plc), and wireless technology startup WaiterPad POS Systems, and he is currently involved in launching a new venture in carbon credits. Dikeman edits and writes the Cleantech Blog, where he has written extensively on biofuels, solar, and global warming.

     

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