Climate tech isn't dead — it's a branding problem

Key points

Key takeaways from a Climate Cowboys interview with Bridges Fund Management Partner Michael D’Aurizio (October 2026):

A ‘no’ disguised as a ‘yes’. Asked whether climate tech is dead, D’Aurizio concedes market sentiment today leans towards yes, but calls that view “absurd” — the longer answer is emphatically no.

The branding problem. Climate tech is far broader than categories such as fintech or crypto, which a layperson instantly understands; its breadth, not its performance, sits at the centre of the dead-or-alive debate.

RIP the green premium. The green premium trade — customers paying more for greener alternatives — is effectively dead, at least in the United States and North America, in D’Aurizio’s view.

One segment, not the whole. The green premium was only one slice of climate tech; dismissing it does not dismiss the rest of the category.

AI leads the portfolio. Most of Bridges’ portfolio today is made up of AI-based companies or tech-enabled services businesses rather than pure green-premium plays.

Value propositions, not virtue. These businesses sell to other businesses and consumers on efficiency and cost savings, improved business outcomes and better customer experiences.

Define it first. Whether climate tech is alive or dead depends entirely on how the category is defined — a narrow green-premium definition misses most of what Bridges now backs.

Read more: Climate Cowboys on YouTube · Climate Cowboys on Substack