In a brief Q&A, Adam Parr says that instead of focusing only on content, they should think about process - how they are going to build an enterpris

Nachmany, Michal

Parr, Adam

Robins, Nick

English

LSE Research Online

How	academic	entrepreneurs	can	bridge	the	gaps	inthe	green	economySocial	scientists	and	industry	are	collaborating	to	build	new	enterprises	that	bridge	key	gaps	in	the	economic	andfinancial	structures	needed	for	a	green	economy.	For	Adam	Parr,	former	chief	executive	of	the	Williams	FormulaOne	team,	systems	thinking	will	help	academics	and	entrepreneurs	find	the	most	effective	solutions	todecarbonisation.	Instead	of	focusing	only	on	content,	they	should	think	about	process	—	how	they	are	going	tobuild	this	enterprise.	He	exchanged	emails	for	a	brief	Q&A	with	Horatio	Mortimer,	research	and	businessengagement	officer	at	LSE.HM:	You	have	founded	DownForce	to	try	and	do	something	to	combat	climate	change.	How	do	you	thinkyou	can	make	a	meaningful	contribution	to	solving	such	colossal	problem?AP:	The	secret	is	to	understand	that	this	is	not	“a”	problem,	and	that	the	solutions	are	(to	adopt	a	phrase)	not	allequal	–	some	are	more	equal	than	others.	What	we	need	to	find	is	those	things	which	(a)	we	can	do	now	and	(b)have	a	non-linear	benefit.	So,	for	example,	decarbonising	aviation	is	very	difficult	for	a	number	of	reasons,	and	thecomplete	elimination	of	emissions	from	aviation	would	reduce	the	total	by	about	2%.	By	contrast,	changing	the	waywe	produce,	transport,	process	and	consume	food,	is	an	opportunity	to	reduce	emissions	by	10x	more	–	andactually	take	carbon	out	of	the	atmosphere.	So	you	have	to	focus,	strategically.HM:	How	do	you	prioritise	the	solutions	to	build	a	green	world	economy?AP:	See	above!	But	the	key	for	me	is	to	find	things	that	are	positive	for	the	economy,	for	health	and	employment.We	are	not	asking	people	to	make	a	choice	between	having	a	livelihood	and	building	back	better.	This	is	anotheraspect	of	systems	thinking:	what	is	good	for	climate	can	also	be	good	for	people	economically,	and	so	on.HM:	What’s	a	good	piece	of	advice	for	someone	setting	up	a	university	spinout	company?AP:	Where	do	I	start	…	there	are	a	handful	of	things,	but	if	I	were	to	sum	it	up,	I	would	say,	think	about	process	asmuch	as	content	—	not	just	your	idea	to	save	the	world,	but	how	you	are	going	to	create	a	great	business	—	andinvestment.Adam	Parr	will	be	speaking	on	a	high-level	webinar	“Building	back	better:	Bridging	the	gaps	in	the	green	economy”on	27	October	at	4pm	(London).	The	panellists	are:LSE Business Review: How academic entrepreneurs can bridge the gaps in the green economy Page 1 of 2		Date originally posted: 2020-10-23Permalink: https://blogs.lse.ac.uk/businessreview/2020/10/23/how-academic-entrepreneurs-can-bridge-the-gaps-in-the-green-economy/Blog homepage: https://blogs.lse.ac.uk/businessreview/Michal	Nachmany	leads	LSE’s	Grantham	Research	Institute’s	structured	datasets	and	toolsprojects,	supporting	evidence-based	decision-making	for	investors	and	policy-makers.	She	managestwo	major	projects:	Climate	Change	Laws	of	the	World–	an	open-access	resource	and	engagementprogramme,	and	the	Transition	Pathway	Initiative	(TPI)	–	an	initiative	supported	by	investors	with	$21trillion	in	Assets	under	Management	and	Advice.	TPI	tracks	climate	governance	and	emissionstrajectories	by	the	highest	emitting	companies	worldwide,	to	facilitate	evidence-based	investorengagement	and	investment.Adam	Parr	is	an	entrepreneur	and	venture	capitalist	focusing	on	strategy	and	the	value	thatacademic	discipline	brings	to	business.	He	is	also	chairman	of	the	Downforce	Trust,	which	aims	toincrease	traction	in	combatting	climate	damage.	His	previous	roles	include	that	of	Chief	Executiveand	Chairman	of	the	Williams	Formula	One	team.	He	is	Adjunct	Professor	at	the	University	ofWestern	Australia.	He	is	also	an	investor,	adviser	and	director	of	several	start-ups,	including	anumber	of	spin-outs	from	the	University	of	Oxford.Nick	Robins	leads	the	sustainable	finance	research	theme	at	the	LSE	Grantham	Research	Institutewhere	he	is	professor	in	practice	for	sustainable	finance.	The	focus	of	his	work	is	on	how	to	mobilisefinance	for	a	just	transition.		He	was	co-director	of	the	UN	Environment	Programme’s	Inquiry	into	aSustainable	Finance	System.	Before	joining	UNEP,	he	ran	the	Climate	Change	Centre	of	Excellenceat	HSBC	and	before	that	the	Sustainable	and	Responsible	Investment	(SRI)	funds	at	HendersonGlobal	Investors.♣♣♣Notes:“Building	back	better:	Bridging	the	gaps	in	the	green	economy”	is	organised	under	the	umbrella	of	ASPECT,	agroup	of	universities	led	by	LSE	exploring	the	most	effective	ways	to	generate	commercial	and	high-impactopportunities	from	social	science	research.	The	webinar	is	open	to	the	public.	Find	out	more	and	registerhere.	The	post	gives	the	views	of	its	authors,	not	the	position	of	LSE	Business	Review	or	the	London	School	ofEconomics.Featured	image	by	Nature_Design,	under	a	Pixabay	licenceWhen	you	leave	a	comment,	you’re	agreeing	to	our	Comment	PolicyHoratio	Mortimer	works	in	business	engagement	for	LSE	Research	and	Innovation,	helpingcompanies	to	raise	their	awareness	of	cutting	edge	social	science.	In	the	past	he	has	worked	in	filmproduction,	in	the	Department	of	Public	Information	at	the	United	Nations,	as	a	venture	capital	fundmanager,	as	a	green	energy	technology	developer,	and	as	a	public	affairs	consultant.	He	is	a	trusteeof	the	Alexander	Mosley	Charitable	Trust.	LSE Business Review: How academic entrepreneurs can bridge the gaps in the green economy Page 2 of 2		Date originally posted: 2020-10-23Permalink: https://blogs.lse.ac.uk/businessreview/2020/10/23/how-academic-entrepreneurs-can-bridge-the-gaps-in-the-green-economy/Blog homepage: https://blogs.lse.ac.uk/businessreview/

How academic entrepreneurs can bridge the gaps in the green economy

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How academic entrepreneurs can bridge the gaps in the green economy

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