Innovations in Sustainable Finance #19: Green Giving with Paul Smeets and Dan Stein

Julian discusses with Paul and Dan the intersection of individual actions, systemic change, and effective giving in addressing climate change.

In the latest episode of his podcast, «Innovations in Sustainable Finance», host Prof. Julian Kölbel speaks with Prof. Paul Smeets, a professor of philanthropy and sustainable finance at the University of Amsterdam, and Dan Stein, founder of Giving Green, a research organization that assists donors in maximizing their climate impact. Together, they explore the intersection of individual actions, systemic change, and effective giving to address climate change.

Julian’s key takeaways from the conversation include

Massive Carbon Savings Through Strategic Interventions: A compelling example discussed was the advocacy to keep California's Diablo Canyon Nuclear Power Plant operational. This single campaign, costing just $3 million, could save 35 megatons of carbon emissions over five years—equivalent to 10% of California's annual electricity-related emissions. It’s a striking illustration of how targeted efforts can have disproportionately large impacts on climate goals.
Gut Feel vs. Voice of Reason—Do Both: Paul shared how his shift to a plant-based diet initially felt undermined when he learned that systemic donations could have a larger impact. Yet, he continues his dietary choices while also donating to climate charities, finding that both approaches can coexist. The conclusion? Embrace the emotional satisfaction of personal action and the logic of systemic impact through strategic giving.
The Power of Giving Green: Dan explained how Giving Green identifies and supports the most effective climate initiatives, such as advancing geothermal energy and advocating for lab-grown meat. Their research process focuses on scalable, feasible, and underfunded opportunities. By donating to Giving Green’s recommended causes, individuals can achieve far greater impact than through behavioral changes alone.

If you’re curious to learn more:

Visit Giving Green’s website to explore their recommendations.
Check out Effektiv Spenden (for German-speaking listeners) for efficient donation options to vetted climate charities.
Stay informed about cutting-edge solutions like geothermal energy and lab-grown meat.