A climate tech founder is expanding his advisory board, including Larry Summers.

• Palmetto's founder, Chris Kemper, has relied on his company's advisory board to guide him through the volatile clean energy market.
• The board comprises experts and former CEOs from diverse sectors, offering perspectives on topics ranging from politics to AI to DEI.
• Larry Summers, a former Treasury Secretary and Harvard University president, has been appointed to Palmetto's latest advisory board.

Over nearly fifteen years as founder of climate tech company Palmetto, Chris Kemper has witnessed significant transformations in the clean energy sector, including the growth of public solar companies and the emergence of Series A startups spurred by the Inflation Reduction Act.

To have a significant impact on mitigating climate change, it is crucial for the company to continue evolving in the complex space, as Kemper puts it.

Kemper explained that meeting the challenge of Palmetto's lofty goals requires more than just his expertise in renewables and clean technology. He must also consider various topics such as international and domestic policies, the development of AI, and the potential for Palmetto to become a public company.

A leader's success depends on building a sounding board that can handle the rapid pace of emerging business challenges and opportunities.

Kemper's approach has been to create a network where he is connected to the world through one degree of separation.

To solve a problem in my business, I think outside the box and consider who has done it well. I look for businesses that operate similarly and identify the person behind it. That's my mentality, and I figure out how to reach that person.

Kemper has built out Palmetto's advisory board with notable individuals such as Neil Chatterjee, former commissioner of the U.S. Federal Energy Regulatory Commission, Nirav Tolia, co-founder of Nextdoor, and Monica Williams, chief consulting officer at The Equity Project.

Larry Summers, who served as Treasury Secretary under Bill Clinton and Director of the National Economic Council under President Obama, has been appointed by Palmetto as their chief economist. Kemper stated that Summers' expertise will be vital in helping the company navigate the complex economic landscape in the future.

"Kemper stated that bringing in an advisor who could provide a macro perspective on the lay of the land would be extremely beneficial. He was able to meet Larry and discuss how he could add value to the team."

The focus on climate mitigation in Summers' approach was shared with Kemper, who believed it could have a significant impact on the macro economy in the long term.

Rising energy prices and climate change are accelerating, and decarbonization is crucial for both environmental sustainability and global economic stability, according to Summers.

Kemper requested updates from Summers on topics such as the company's 18- to 24-month rolling plan, treasury and corporate cash management, price points for consumers, and private placement of paper.

Kemper ensures to maintain contact with his advisors at least once a month, and when there's a specific topic of interest, he invites them for dinner and discusses it.

Kemper believes that creating an advisory board is critical for all successful executives, although he acknowledges that the approach might differ for some large companies.

He stated that industries are interconnected and complex, requiring a broad perspective on numerous topic sets.