Windmill Capital Management, LLC

12/01/2025

We think of in rather coarse terms, which we believe greatly simplifies impact measurement and reporting. Clean energy, regenerative farming and sustainable building assets deliver discrete, measurable impact by reducing GHG emissions and we know our impact before allocating a single dollar.

Recent research highlights the benefits of impact measurement in impact investing. Here is advice for managers trying to track impact investing efforts.

11/12/2025

"Sustainable investing, when executed in the context of rigorous, long-term financial thinking, works."

Sustainable investing doesn’t work. ESG is just marketing. Impact investing is a club. We’ve heard it all, and after decades assessing and carefully considering the underlying issues, we firmly believe those criticisms are . . . partly true.

10/23/2025

"Notably, companies’ increased sustainability-related investments come as they are also reporting slightly less pressure from some stakeholder groups, and some even reporting experiencing anti-ESG pushback from some areas."

More than four out of five companies continued to increase their sustainability-related investments over the past year despite reduced pressure from some stakeholder groups, as executives report already seeing strong tangible benefits from their sustainability actions, including revenue growth and c...

10/21/2025

Over $100B in natural disaster losses for the last 6 years, and 8 out of the past 9 years. Climate change is driving an increase in the frequency and intensity of severe weather events. The best time to invest in and was yesterday. The next best time is now.

Global insurance losses from natural disasters have eclipsed $100 billion in 2025, even as subdued hurricane activity has resulted in unusually low third-quarter costs so far.

10/20/2025

Private market impact investments are outperforming traditional investments, according to The Global Impact Investing Network.

Private equity and real assets impact investments deliver higher returns than traditional investments in the same asset class, according to GIIN research.

06/17/2025

Interest in is growing, with 59% of investors expecting to increase their allocation in the next 12 months. Interest in the leads the way, with more than 80% viewing energy transition as a return-generating opportunity.

The survey of 1,765 high-net-worth individuals across the world reveals that 88% are interested in sustainable investing

05/20/2025

"enables substantial reductions in grid loads and greenhouse gas emissions, helping mitigate the energy crisis without compromising economic growth."

The U.S. is facing an energy emergency, as escalating electricity demand, unstable fossil fuel markets, and the rapid growth of energy-intensive

04/15/2025

"DERs... empower communities and customers to generate and manage their own energy, lower energy bills, increase grid reliability and flexibility, and reduce fossil fuel use." As we've been saying, the is distributed.

To help meet the ever-rising demand for energy in the U.S., policymakers, regulators, and utilities should look to distributed energy resources (DERs) as a bigger part of the solution. According to the Office of Energy Efficiency and Renewable Energy, DERs “are small, modular, energy generation an...

04/10/2025

"The geothermal system... cut the building’s carbon emissions by 60% compared to gas boilers, and could save tenants between $120 to $450 on electric bills each year."

Subterranean climate control systems are gaining steam across the city, promising greater efficiency and cheaper electric bills.

03/26/2025

For new power plants, has always been the cleanest option. It's also the most cost effective and the fastest to deploy.

02/25/2025

Estimated deal flow for solar tax credit transfers in 2024 is $5.75B. Increasing market activity reflects greater transparency, increased confidence, and an influx of corporate buyers.

A Crux 2024 market intelligence report expects the tax credit market to play a pivotal role in meeting the increasing demand for affordable, reliable and sustainable energy.