Climate & Sustainability.
Sustainability needs things that actually work.
Not just positioning documents, communications strategies, or infrastructure that looks credible from the outside but can't withstand scrutiny from the inside.
The work worth doing in climate is the unglamorous kind: building the systems that let real claims be verified, real progress be measured, and real trust be placed in the people doing the work. Malpaux invests in and works with organisations doing exactly that.
Selected Work.
Carbon removal infrastructure: We invested at pre-seed in Cula Technologies and led a full brand redesign before the product had revenue. Cula is building the data infrastructure to fix the voluntary carbon market's credibility problem: an MRV platform that tracks every stage of the biochar removal process, producing a verifiable digital twin for each credit. In a market where buyers had been burned before, the brand had to signal a category departure before traction could make that argument. The site won Site of the Day on Awwwards. Cula closed their €4m seed round in August 2024.
In-house feature documentary: Reindeer is a film we are making because we believe it matters, not because a client commissioned it. The film follows people in Sápmi and Southern Norway: reindeer herders, land managers, and communities navigating the intersection of climate, geopolitics, and what the Scandinavian press has started calling green colonialism. It is currently in production across Norway, Sweden, and Finland and is expected to complete in 2027.
Lessons.
In broken markets, trust is the product. Cula's technical platform is the mechanism. But what institutional and corporate buyers are actually purchasing is the confidence that the certificate represents something real. Every brand decision we made for Cula was evaluated against a single question: does this make it easier or harder for a sceptical buyer to believe?
Early-stage credibility has asymmetric returns. For a company operating in a credibility-deficient market, a well-executed identity opens doors that traction cannot yet open. The Cula seed round came faster because the brand reduced the interpretive work investors had to do.
Showing beats telling when your audience has been oversold to. The Carbon Stories films don't explain what Cula does. They show what it looks like to work with Cula on the ground in a large industrial facility in Canada, a small family operation in rural Mexico, and a multi-site Swiss producer. Operators recognise themselves in the protagonists. That recognition does more for adoption than any product brochure could.
Technical complexity is a communication problem as much as an engineering one. Making the biochar carbon removal process comprehensible and compelling without simplifying away the rigour that makes it credible — that's not a science problem. It's a design problem.
We invest in sustainability and build with the people doing the hard work.
We invest in sustainability and build alongside the people doing the hard work. If that's you, we'd like to talk — whether or not there's an obvious fit right now.