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LogoutThe term “cleantech” was coined in the late 1990s and early 2000s by the venture capital (VC) investing sector. Nick Parker and Keith Raab, who formed the Cleantech Group in 2002, popularised it. Today, this organization—a San Francisco-based research and consulting firm—serves as a coordinating body for the sector’s operations.
Historically, the term “cleantech” was used to describe a wide variety of technologies and practices, from solar and wind energy generation to supply chain and manufacturing line process improvements. Today, words having a more clear environmental meaning, such as “green technology” or “eco-friendly tee,” are more commonly used in popular discussions of environmental concerns.
Organizations like the United Nations Principles for Responsible Investing (PRI), which gathers and distributes data from a network of over 3,000 member financial institutions, are part of the push toward sustainable investing.
These PRI “signatories” pledge to follow a set of six principles aimed at putting environmental sustainability at the center of their investment decision-making process, as well as self-reporting on their progress. The PRI’s network of signatories has total assets under management (AUM) of over $80 trillion as of January 2020, making them an increasingly powerful force.