Marketplace Morning Report: "Let's Talk About Climate Finance"

Date: October 6, 2025
Host: Sabri Benishour (in for David Brancaccio)
Featured Guest: Justin Winters, Co-founder & Executive Director, One Earth

Brief Overview

This episode delves into the urgent topic of climate finance—specifically, where private and philanthropic money is (and isn’t) flowing to address climate change. Sabri Benishour speaks with Justin Winters of One Earth about a new report mapping $400 billion in investments across climate solutions. The conversation breaks down imbalances in climate funding, reasons certain areas are overlooked, and actionable ways to redirect capital for maximum climate impact.

Key Discussion Points

1. What is 'Climate Finance'?

[06:09–06:22]

• Sabri Benishour asks for a definition of climate finance.
• Justin Winters:
  • Climate finance includes "how resources flow, you know, both investment and philanthropic capital, all capital really, how it's flowing to address the climate crisis."
  • All forms of capital—from governments to private actors—contribute to the effort.

2. Buckets of Climate Investment

[06:22–07:09]

• Winters describes the division of climate finance into three buckets.
• Over the last decade, climate finance has nearly doubled but is still “a sliver of global investment.”
• Less than 2% of philanthropic giving goes to climate and environment.
• One Earth and Vibrant Data Labs analyzed $400 billion in private and philanthropic capital across 10,000+ US organizations to track funding flows and gaps.

3. Where the Money Flows—And Where It Doesn’t

[07:09–08:05]

• The report found stark imbalances:
  • 89% of all US private climate capital goes to energy transition (renewable energy, grid upgrades, storage, etc.).
  • Two other critical areas are significantly underfunded:
    • Nature conservation: Only 4% of total climate finance.
    • Regenerative agriculture: About 7% of total climate finance.
• Memorable Quote:

  "Almost 89% of all private capital in the US is flowing to the energy transition. Now, this isn't a bad thing, but there are two other critical solution pathways... nature conservation only received 4%... and regenerative agriculture wasn't much better. It received only 7%."
  — Justin Winters [07:12–08:05]

4. How to Get Money to Neglected Solutions

[08:05–09:13]

• Host asks whether solutions like nature conservation or regenerative agriculture need government funding, or could attract early-stage venture capital.
• Justin Winters:
  • Government and philanthropy are especially crucial for nature conservation.
  • Regenerative agriculture can attract a range of capital: venture, investment, and government.
  • Advocates for holistic, innovative approaches—matching funding types and stages to specific needs.
  • Excitement about new climate markets, especially regenerative agriculture, which supports biodiversity and human health.
• Quote:

  "There are incredible opportunities for all types of capital, including venture capital, including investment capital. But we need to be more thoughtful about the types of capital to the solutions that need to support it and what stage those solutions are at. We need to think holistically and... in an innovative mindset about new markets that are going to emerge."
  — Justin Winters [08:16–09:13]

Notable Quotes & Memorable Moments

• On Imbalances in Funding:

  "We found some incredible imbalances... almost 89% of all private capital in the US is flowing to the energy transition."
  — Justin Winters [07:12].

• On Philanthropy:

  "Less than 2% of philanthropic giving is going to climate and environment."
  — Justin Winters [06:34].

• On New Approaches:

  "We need to be more thoughtful about the types of capital to the solutions that need to support it and what stage those solutions are at."
  — Justin Winters [08:16].

Timestamps for Important Segments

• [05:32] Introduction to the climate finance topic and guest.
• [06:09] Justin Winters explains climate finance.
• [06:22] Breakdown of climate finance “buckets.”
• [07:09] Discussion of where funding flows and the imbalances.
• [08:05] How to redirect funding.
• [09:13] Conversation concludes.

Takeaways

• The vast majority of US private climate funding is directed at energy, leaving nature conservation and regenerative agriculture vastly underfunded, despite their critical role in climate solutions.
• Only a minuscule portion of philanthropic giving goes to environmental causes.
• Targeted, innovative investment—including but not limited to governments—could unleash the potential of neglected solutions such as regenerative agriculture and nature restoration.

Further Listening:
For context on the broader economic news of the day, the episode also covered updates on the weight loss drug market (Ozempic/Wegovy), the shifting landscape in beer sales, and the decline of alcohol consumption in the US, but the segment with Justin Winters is the core focus for climate finance insights.