The Iran war is dominating oil headlines, but the sleeper story is what happens to the $6 trillion in Gulf sovereign wealth fund capital that underpins the AI boom and the energy transition. We break down the unprecedented force majeure reviews now underway across Gulf economies, what they mean for climate project finance and fund formation, and why the real disruption isn't barrels — it's balance sheets.

Climate Money S2 E3: Debt is the answer (it always was) — a conversation with Dimitry Gershenson

Climate Money covers the financing side of climate change -- where the money is flowing, where it isn't, and why it matters. Join us as we cover climate headlines and founders and investors involved in the business of fighting climate change. 

Season 2 explores a central observation: climate tech financing has reached ~$1.8 trillion annually, but the debt-to-equity ratio is roughly 15:1. This massive tilt toward debt signals sector maturation (bankable assets, proven revenue models, institutional comfort) while simultaneously exposing dangerous gaps that we'll dive into on the show.