Update on Progress at The New York Climate Exchange

March 2025

At the request of its board of directors and with input from its partners, The Exchange has identified five areas of expertise upon which it will focus its programming in 2025 and beyond:  

• Built Environment — strategies to reduce emissions and enhance the resilience of buildings, neighborhoods and cities.
• Community Resilience & Health — expanding access to climate risk data to facilitate policy and investment related to climate impacts, like extreme heat and urban flooding.
• Financial Solutions — accelerating and scaling access to finance for the climate transition ahead.
• Energy & Carbon Management — aiding the energy transition at both the local and systems scales by supporting efforts to sequester greenhouse gases.
• Oceans — addressing the key role of oceans and their critical link to jobs and community stability.

When The Exchange’s physical campus on Governors Island is completed, it will become the hub of ambitious, impactful programs and activities concentrated in these five arenas of climate sustainability. A significant fundraising campaign is underway to secure the resources for the facility. But even before the physical campus is completed, The Exchange has begun to undertake robust programming in its chosen areas of focus and expertise.

This approach is the result of much thought, collaboration and learning from the insights gleaned from our earlier programming initiatives. In 2024 — one year after Stony Brook University’s proposal was selected as the winning bid to create a center for climate solutions on Governors Island — The New York Climate Exchange launched several transformative programs. 

The powerful network of 48 diverse partners, spanning academic institutions, global corporations and community organizations, were instrumental in the following:

• AI Innovation Challenge, in which The Exchange invited student teams to develop AI-driven solutions for urban stormwater management. Stony Brook’s team finished in second place.
• Undergraduate Internship Program, which placed 11 students from The Exchange’s university partners at local community organizations where they gained hands-on experience in climate-related fields and networked with one another during summer 2024. Two Stony Brook students participated in this meaningful program, which will continue annually.
• A Climate Tech Showcase, a celebratory Climate Week NYC event that provided a stage for startups and climate entrepreneurs on Governors Island. The daylong event featured climate tech solutions incubated at partner institutions. Stony Brook led another relevant program on Governors Island titled “Solutions to the Energy Transition Challenges in the NYC Region.”
• Collaborative Ideas Labs, in-person and virtual events that convened students, researchers and professionals across disciplines and geographies to brainstorm innovative climate solutions on trending topics, such as workforce development, decarbonization and oceans. We were excited to see so many Stony Brook faculty and staff participate in these discussions.

The Exchange also continued its work and collaboration with community organizations. In fall 2023, The Exchange piloted the Amplifying Meaningful Partnerships Grant program to kick-start collaboration among The Exchange’s partners and expand the capacity of existing programming.

The five partners who received grants from The Exchange were the Waterfront Alliance, to create a capstone project program at the New York Harbor School (also an Exchange partner) in waterfront development; Lower Manhattan Cultural Council, to support the planning process for its Climate Justice & Arts Symposium at The Arts Center at Governors Island; Educational Alliance and the Climate Museum, providing arts-based climate education to Lower East Side public schools; Earth Matter NY, in partnership with New York University and Pratt University, to offer hands-on composting education on Governors Island, as well as additional education in animal care, soil science and zero-waste practices; and Solar One, for its solar power rainwater irrigation project, which, in partnership with the New York Harbor School, will promote experiential learning and training with solar-powered irrigation systems for high school seniors. 

The Exchange has identified its most critical assets and tools in accelerating climate change solutions in New York and beyond. The Exchange Toolkit consists of the cross-cutting areas that support lasting, sustainable change:

• Education & Training — providing accessible climate education to youth, university students and the general public to enhance climate literacy and better equip the next generation of working professionals.
• Arts & Culture — leveraging the power of arts and culture to engage the public on climate-related issues, elevating understanding and inspiring action.
• Research — leveraging basic and applied multidisciplinary and cross-industry research on research gaps and pressing climate policy, science, technology and finance challenges.
• Tech Incubation — lowering the barriers for critical technologies and the innovators behind them to advance to market to make a measurable positive impact on climate-related challenges and opportunities.
• Workforce Development — providing the training and skills necessary for the climate-conscious jobs of the future —  in New York City and beyond.
• Convening — bringing together experts and leaders from across disciplines —  including policymakers, thought leaders, community organizations, businesses, scientists and more — to exchange ideas and work together to advance tangible climate solutions.

In addition to building on programming launched in 2024, such as expanding the internship program across more partners, the following events and initiatives based on The Exchange Toolkit are:

Research/Convening 

On April 23-24, The New York Climate Exchange will host its inaugural New York City-based Climate Solutions Summit on Governors Island. This intimate gathering will focus on coastal urban environments, fostering collaboration among experts and activating the island as a renowned climate research hub. Immediately following the summit on April 24, Stony Brook’s Collaborative for the Earth (C4E) will be hosting its annual environmental debate on Governors Island focused on nuclear energy. 

Community Resilience & Health 

In February, The Exchange began teaming up with the Public Housing Community Fund to offer Climate Action Grants to New York City Housing Authority residents. This program is designed to empower residents to lead community-based sustainability projects. Applications are due March 23, and winners will be announced in April during an Earth Day celebration on Governors Island.

Financial Solutions

The Exchange held its third event in the Wall Street Climate Forum for Young Professionals. Hosted at Moody's on February 20, 2025, The Exchange convened analysts, associates and other banking professionals to discuss integrating climate into environmental, social and governance investment strategies while navigating a new era of U.S. politics. 

Tech Incubation 

In late February, The Exchange team members launched the Sustainable Solutions Challenge, encouraging innovative proposals from undergraduate and graduate students, climate entrepreneurs  and tech professionals with late-stage, cleantech solutions. Proposals will be considered for integration in The Exchange’s Governors Island campus — scheduled to break ground in late 2026.

Education & Training

The Exchange is also preparing to launch the Climate Tech Fellows Program to help promising technologies and teams start their early-stage commercialization journey. The inaugural version of the fellowship will prioritize individuals from underrepresented backgrounds in the tech space.

Together we look forward to watching progress continue. The Exchange is a historic project and, as New Yorkers and Seawolves, we are a part of that history.