1Emerging Sustainable Investing Opportunities: Controlled-Environment AgricultureHow controlled-environment agriculture can create a double bottom line of financial returns and positive social and environmental ImpactPitchBook is a Morningstar company providing the most comprehensive, most accurate, and hard-to-find data for professionals doing business in the private markets.Institutional Research GroupAnalysisDataAlyssa Williams Senior Data Analystpbinstitutionalresearch @pitchbook.comPublishingDesigned by Julia MidkiffPublished on December 20, 2023ContentsKey takeaways1Introduction2Financial return potential4Environmental and social Impact potential8Anikka Villegas Analyst, Fund Strategies & Sustainable Investinganikka.villegas@pitchbook.comInsights developed in collaboration with Alex Frederick, Sr. Analyst, Emerging Technology at PitchBook Data.PitchBook Data, Inc.John Gabbert Founder, CEONizar Tarhuni Vice President, Institutional Research and EditorialDaniel Cook, CFA Head of Quantitative ResearchKey takeaways•Controlled-environment agriculture is a solution to the problem of feeding agrowing population while dealing with the challenges of climate change.•The financial return potential of this opportunity is underpinned by scalingdemand for secure and local food, the need for climate-resilient agriculture,government funding and regulatory support, and tailwinds from the natural andorganic foods movements.•Controlled-environment agriculture has the potential to create positiveenvironmental Impacts through improved resource efficiency in agriculture,pollution and contamination prevention, and decreased transportation ofproduce. From a social perspective, it has the potential to generate positiveImpacts in terms of improving food security, reducing negative human ...