The Gender Investment Gap Is Costing Us Climate Solutions

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âI invest in women building in climate,â Carmel told us on The Responsible Edge. âNot because itâs charity, but because itâs good business.â
Carmelâs journey is anything but linear. From journalist to fashion executive to founder of a hospitality tech platform, her entrepreneurial drive took many formsâuntil COVID forced a hard reset. Sitting at her kitchen table during lockdown, she had a moment of realisation: âWhatever I do now, it cannot be about making something for someone just to buy. It has to be about impact.â
That pivot led her to climate tech, angel investing, and ultimately, founding The Tableâa non-commercial community of over 225 investors with more than ÂŁ10 billion AUM, all focused on backing women-led climate ventures. Since launch, 32 deals have been shared, 10 closed, and new models of capital allocation are taking shape.
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đ The Myth of the Pipeline Problem
Investors often claim there just arenât enough women building VC-backable climate solutions. Carmel disagrees.
âThatâs not true,â she says plainly. âWomen are building incredible businesses. They just donât have the resourcesâand theyâre building differently because of it.â
Women are present in the early stages. Cohorts at venture builders like Zinc or Carbon Thirteen are often 40â60% female. But when it comes to pre-seed or seed funding, the numbers plummet. The result? A false feedback loop that implies lack of ambition rather than lack of access.

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đ Same Bias, New Money
A recent Trellis article suggested that more corporate capital in climate tech might change the gender equation. But Carmel isnât convinced.
âCorporates donât treat women differently. The same biases are embeddedâjust with a new logo.â
Her frustration is rooted in data. Women-led startups deliver higher ROI, reach unicorn status faster, and maintain stronger fundamentals. Yet when pitching, men are asked about their vision. Women are asked about their risks.
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đ§ Fixing the System, Not the Women
So what needs to change? For Carmel, itâs not about training women to pitch better. Itâs about rebuilding the structures theyâre pitching into.
Hereâs what she recommends:
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More catalytic capital: Funds like The Table Foundation (launching soon) offer recoverable grants to match investments, reducing the perceived risk.
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Visible, shared deal flow: The Table invites all investorsâangels, syndicates, fundsâto co-invest and share live rounds.
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Data transparency: Asking every member to report the gender and diversity make-up of their portfolio and team is one small but powerful act of accountability.
âWeâre not subsidising climate tech. Weâre subsidising men. Itâs time to change the ROI conversation.â

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đŻ Why This Matters for Climate Tech
Carmelâs call-to-arms isnât just about equityâitâs about effectiveness. Climate tech doesnât have the luxury of letting good ideas die on the sidelines because of bias.
âWe need all the innovation we can get,â she says. âWe canât afford to run the same VC playbook and just hope for the best.â
When you fund a narrow slice of society, you get narrow solutions. Mixed teams, diverse founders, and new ideas arenât just morally rightâtheyâre our best chance at solving the climate crisis.
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â Final Word
When asked what one thing sheâd change about the commercial world with a magic wand, Carmel didnât hesitate:
âThe bias against women.â
Sheâs not waiting for a wand, though. Sheâs building new structures. Sharing better data. Opening locked doors. And with every climate-positive, woman-led company that gets funded, sheâs proving that impact and returns arenât trade-offsâtheyâre allies.
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