Dear Earthshot allies, It’s been a winter of deep introspection for the Earthshot team, and I think the carbon market and climate tech as a whole has experienced a similar reckoning. Nature restoration and conservation must become an investable asset class in order to scale to match the level of active degradation and rebalance climate systems. Yet we’ve been humbled by how early this market still is, and how much time it takes to close investments in reforestation. Planetary ecological systems are in a more dire situation than ever, and the success of restoration effects should not be derailed simply from general economic softness, news articles, or the fragility of banking systems.