How tech groundbreaker Greg Smithies went from Elon Musk's inner circle to tackling real estate's $18 trillion carbon-emissions problem
Smithies has worked on sustainability issues and with Elon Musk's The Boring Company.Greg Smithies, the co-head of the world's largest real-estate-tech climate fund at Fifth Wall, has $500 million at the ready for one monumental task: decarbonizing buildings, the largest single source of carbon emissions in the world.
. Indeed, he said many investors with the Fifth Wall fund are planning to be customers of the very products they're backing, suggesting they see the longer-term benefit on their bottom lines. Buildings emit more than all vehicles — making up 40% of global emissions — but they have received a mere 6% of climate-venture investment, Smithies said. He figures it'll take $18 trillion to"decarbonize the built environment," in annual chunks of about $1 trillion.
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