Press Release  |  September 15, 2021

Project Drawdown welcomes Stephan Nicoleau to its Board of Directors

(September 15, 2021) — Project Drawdown is pleased to announce the election of Stephan Nicoleau—Partner at FullCycle, an investment firm focused on addressing the climate crisis—to its Board of Directors.

Nicoleau is an investor, advisor, and founder with more than 15 years of experience in the social and environmental impact space. He joins eight longtime Project Drawdown Board members during a time of remarkable growth for the nonprofit organization.

“We couldn’t have found a more passionate climate advocate to join our Board,” says Project Drawdown Executive Director Jonathan Foley, PhD. “Stephan knows how to think long-term while taking action on the best investment climate solutions we have in-hand today. Project Drawdown is proud to have his support—and an opportunity to learn from him—as we significantly level up our efforts to help the world reach drawdown quickly, safely, and equitably.”

Visionary social, environmental, and financial leadership

At FullCycle, Nicoleau heads capital solutions for the firm, managing institutional relationships and the firm’s capital formation for its fund vehicles. He began his career as a management consultant, as a founding member of Coalition Ltd., a boutique strategy consultancy, which advised the executive management teams of the top global investment banks such as JP Morgan, Credit Suisse and Barclays Capital. 

Later—in founding Critical Value Advisors (“CVA”)—Nicoleau built an advisory practice which served private investors managing several billion in assets, working to source emerging managers and impact investment opportunities globally. CVA structured and advised investments in venture, real estate, and infrastructure, playing an integral role in identifying investment opportunities that would achieve environmental, social, and financial returns for private and institutional investors. In 2016, he founded LaGuardia Development Partners (“LDP”), a minority-owned infrastructure financing vehicle focused on the redevelopment of LaGuardia Airport—a project that was integral in reshaping the public private partnership (“P3”) to be more inclusive of minority and women-owned funders and operators. 

In addition to serving on the board of Project Drawdown, Nicoleau serves on the boards of Monument Lab, a public arts studio leading national conversations about public space and history; and Future of Cities, a regenerative placemaking coalition focused on sustainable urban development. Nicoleau is an active mentor to entrepreneurs in his community, lives in New York City, and is a graduate of the University of Pennsylvania.

In his own words

Project Drawdown: When did you first become passionate about climate change and solutions?
Nicoleau: I have been an impact investor for over 15 years, so climate has always been part of my work. However, as the science became clearer for us all, I understood my role in having impact would be to work on this existential issue. My passion to have an impact is met by my desire to be as effective as possible in my work—and I’m grateful to do it every day. Because I have experience as an investor, operator, and finance professional, I feel especially lucky that I can meaningfully apply my lived and professional experience to addressing the greatest challenge of our times.

PD: What are you doing to help the world reach drawdown—the future point in time when levels of greenhouse gases in the atmosphere stop climbing and start to steadily decline?
Nicoleau: I’d say this is most prominent in my work at FullCycle, where we are actively scaling climate-critical infrastructure that has the capacity for significant abatement and drawdown of CO2 and its equivalents. My advocacy for an “all-hands-on-deck” approach has been a hallmark of my efforts to help us meaningfully drawdown GHGs, and has spurred dialogue and action well beyond the fund with policy makers, philanthropists, and community stakeholders.

PD: What’s your favorite part of your work with Fullcycle?
Nicoleau: There is a lot to love about FullCycle’s mission—we’re invested with incredible capital partners and operators, and we’re a team that deeply cares about making a difference. This  compelling, activated community and ecosystem that we have built inspires me every day. The innovations we see —and indeed, those that we select to commercialize—are transformative, which gives me hope that we can mitigate the impact of climate change while investing and building the future that we and future generations deserve.

PD: Which climate solution(s) do you wish the finance and investment community would adopt today to make an impact?
Nicoleau: We’re going to need to accelerate investment in all of the available emissions-abating technologies, practices, and solutions that are available now. But because the climate crisis is so urgent, the order in which we invest matters significantly. Solutions that have the highest carbon abatement potential (per dollar invested) must be prioritized alongside those solutions that are ready for market and implementable at scale. For investors, that means investing with managers that are designed to accelerate solutions and deliver measurable climate and financial returns—galvanizing the global markets to invest trillions into climate restoration. Focusing on infrastructure is the most effective way for asset managers to have a meaningful impact, as climate change is mostly driven by the operations of our global systems.

PD: How should nonprofits like Project Drawdown commit more deeply to equity and justice in their climate work? How would you like to see this organization grow?
Nicoleau: Project Drawdown can play a substantial and important role in identifying the critical link between climate solutions and a more just transition to a low-carbon future. As we identify the best innovations, practices, and nature-based solutions that actively drawdown greenhouse gases, we must consider the reparative power of implementation at every frontline and in communities that have been underserved. This intersection between the work to overhaul our aging infrastructure and the work to build a more equitable world is an important one for us to explore and activate through the solutions work at Project Drawdown. This includes working to include the voices of traditionally underrepresented communities and stakeholders in our conversations about a just transition to a low-carbon, more equitable, and increasingly resilient global economy.

About Project Drawdown
Founded in 2014, Project Drawdown® is a nonprofit organization that seeks to help the world reach “drawdown”—the future point in time when levels of greenhouse gases in the atmosphere stop climbing and start to steadily decline. Since the 2017 publication of the New York Times bestseller Drawdown, the organization has emerged as a leading resource for information and insight about climate solutions. We continue to develop that resource by conducting rigorous review and assessment of climate solutions, creating compelling and human communication across media, and partnering with efforts to accelerate climate solutions globally. Cities, universities, corporations, philanthropies, policymakers, communities, educators, activists, and more turn to Project Drawdown as they look to advance effective climate action. We aim to support the growing constellation of efforts to move climate solutions forward and move the world toward drawdown—as quickly, safely, and equitably as possible. A 501(c)(3) nonprofit organization, Project Drawdown is funded by individual and institutional donations.

Press Contacts

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June 27, 2022
Project Drawdown updates world’s leading set of climate solutions—adding 11 new solutions for addressing the climate crisis
by Mary Hoff
Five years ago Project Drawdown published a collection of “drawdown solutions,” technologies and practices that, if ambitiously implemented together, can achieve drawdown—the point in the future when levels of greenhouse gases in the atmosphere stop climbing and start to steadily decline, thereby stopping catastrophic climate change. A newly released update of this landmark analysis adds 11 new solutions and confirms with even more clarity and conviction that humanity has the solutions needed to reach drawdown quickly, safely, efficiently, and equitably. The update lays the groundwork for Project Drawdown’s next major effort: developing and helping to activate strategies for implementing climate solutions that also benefit human well-being, biodiversity, and more. Businesses, funders, organizations, and individuals are encouraged to use the updated solutions set as a resource for making wise choices as to how to direct their climate solutions efforts. 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Macroalgae Protection and Restoration – Macroalgae forests are among the most productive ecosystems on Earth. Protecting and restoring those habitats, enhances carbon sequestration in the deep sea.  Improved Fisheries – Improved fisheries involves reforming and improving the management of wild-capture fisheries to reduce excess effort, overcapitalization, and overfishing. This can reduce fuel usage and rebuild fish populations.  Improved Aquaculture – Aquaculture is one of the fastest-growing animal food sectors. Because some aquaculture systems are highly energy intensive, ensuring that part of the on-site energy consumption is based on renewable resources would reduce greenhouse gas emissions.  Seafloor Protection – Vast amounts of carbon stored in seafloor sediments risk release by bottom-trawling fishing. Bottom-trawling bans and establishment of Marine Protected Areas can protect this important carbon sink. Improved Cattle Feed – Optimizing cattle feeding strategies can lower the methane emissions produced within the ruminant digestive system. Nutrient-enriched diets of high-quality forages, additives, and supplements aim to improve animal health and productivity. Improved Manure Management – Livestock manure produces methane, a potent greenhouse gas. Advanced technologies and practices for managing manure can reduce the adverse climate impact of animal agriculture. Methane Leak Management – Methane, a potent greenhouse gas, is emitted during the production and transport of oil and natural gas. Managing methane emissions can reduce greenhouse gases in the atmosphere. Recycled Metals – Metals are extracted from nonrenewable ores. 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Highlights Among the highlights of the update: An initial investment of US$15.6 trillion (Scenario 1) would avoid or sequester more than 1,000 gigatons of carbon dioxide equivalent greenhouse gases between 2020 and 2050 and save nearly US$98 trillion in total operating costs over the lifetime of the solution.  Bumping the investment up to US$23.6 trillion (Scenario 2) would avoid or sequester more than 1,600 gigatons of gases and save more than US$140 trillion in lifetime costs.  Under Scenario 1, which aligns roughly with IPCC’s 2°C target, Food, Agriculture, and Land Use sector solutions have the greatest impact on greenhouse gases. Under Scenario 2, which aligns roughly with IPCC’s 1.5°C target, the Electricity sector jumps to the top for atmospheric greenhouse gas reductions.  Updating the Family Planning and Education solution created changes across all solutions, since it replaces the previous projection of 2050 population with a lower number, creating a lower demand for the other solutions. Notably, nearly half (46 percent) of the impact of the lower population projection is attributable to more developed countries because of the higher per-capita contribution. The impact of education is hard to quantify because it affects many things besides reproductive choices (e.g., ability to implement other solutions). In the Electricity and Buildings sectors, lower functional demand due to lower population projections means fewer emissions in the baseline (business as usual) scenario, which means it’s easier to achieve climate goals.  Changes in the Transportation sector are mainly due to newer and better data. 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In sum, we confirmed that the practices and technologies implemented to reduce greenhouse gas emissions will more than pay for themselves in lifetime savings. In addition, many of the solutions have bonus benefits for reducing poverty, increasing equity, and protecting endangered animals and ecosystems. So solving the climate crisis is both a life-saving and money-saving move for future generations. Research Team Fellows and staff who played key roles in the updates include Chad Frischmann, Mamta Mehra, Mahmoud Abdelhamid, Zak Accuardi, Mohammad Ahmadi Achachlouei, Raihan Ahmed, Carolyn Alkire, Ryan F. Allard, Jimena Alvarez, Chirjiv Anand, Jay H. Arehart, Senorpe Asem-Hiablie, Jay Barlow, Kevin Bayuk, Renilde Becqué, Erika Boeing, Jvani Cabiness, Johnnie Chamberlin, Delton Chen, Wu Chen, Kristina Colbert, Leonardo Covis, Susan Miller Davis, Tala Daya, Priyanka DeSouza, Barbara Rodriguez Droguett, Stefan Gary, Jai Kumar Gaurav, Anna Goldstein, Miranda R. 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Interested individuals can check out the ongoing work on Github, where Python and Excel versions of the models are being worked on, along with user interfaces, data management tools, and other software tools. 
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