Firms backed by Robert Downey Jr. and Bill Gates have funded an electric motor company that slashes energy consumption

Sometimes the smallest innovations can have the biggest impacts on the world’s efforts to stop global climate change. Arguably, one of the biggest contributors in the fight against climate change to date has been the switch to the humble LED light, which has slashed hundreds of millions of tons of carbon dioxide emissions simply by reducing energy consumption in buildings.

And now firms backed by Robert Downey Jr. and Bill Gates are joining investors like Amazon and iPod inventor Tony Fadell to pour money into a company called Turntide Technologies that believes it has the next great innovation in the world’s efforts to slow global climate change — a better electric motor.

It’s not as flashy as an arc reactor, but like light bulbs, motors are a ubiquitous and wholly unglamorous technology that have been operating basically the same way since the nineteenth century. And, like the light bulb, they’re due for an upgrade.

“Turntide’s technology and approach to restoring  our planet will directly reduce energy consumption,” said Steve Levin, the co-founder (along with Downey Jr. ) of FootPrint Coalition Ventures

The operation of buildings is responsible for 40% of CO2 emissions worldwide, Turntide noted in a statement. And, according to the U.S. Department of Energy (DOE), one-third of energy used in commercial buildings is wasted. Smart building technology adds an intelligent layer to eliminate this waste and inefficiency by automatically controlling lighting, air conditioning, heating, ventilation and other essential systems and Turntide’s electric motors can add additional savings.

That’s why investors have put over $100 million into Turntide in just the last six months.

PARIS, FRANCE – JUNE 16: Tony Fadell Inventor of the iPod and Founder and former CEO of Nest attends a conference during Viva Technology at Parc des Expositions Porte de Versailles on June 16, 2017 in Paris, France. Viva Technology is a fair that brings together, for the second year, major groups and startups around all the themes of innovation. (Photo by Christophe Morin/IP3/Getty Images)

The company, led by chief executive and chairman Ryan Morris is commercializing technology that was developed initially at the Illinois Institute of Technology.

Turntide’s basic innovation is a software controlled motor, or switch reluctance motor, that uses precise pulses of energy instead of a constant flow of electricity. “In a conventional motor you are continuously driving current into the motor whatever speed you want to run it at,” Morris said. “We’re pulsing in precise amounts of current just at the times when you need the torque… It’s software defined hardware.” 

The technology spent eleven years under development, in part because the computing power didn’t exist to make the system work, according to Morris.

Morris was initially part of an investment firm called Meson Capital that acquired the technology back in 2013, and it was another four years of development before the motors were actually able to function in pilots, he said. The company spent the last three years developing the commercialization strategy and proving the value in its initial market — retrofitting the heating ventilation and cooling systems in buildings that are the main factor in the built environment’s 28% contribution to carbon dioxide emissions that are leading to global climate change.

“Our mission is to replace all of the motors in the world,” Morris said.

He estimates that the technology is applicable to 95% of where electric motors are used today, but the initial focus will be on smart buildings because it’s the easiest place to start and can have some of the largest immediate impact on energy usage. 

The carbon impact of what we’re doing is pretty massive,” Morris told me last year. “The average energy reduction [in buildings] has been a 64% reduction. If we can replace all the motors in buildings in the US that’s the carbon equivalent of adding over 300 million tons of carbon sequestration per year.”

That’s why Downey Jr.’s Footprint Coalition, and Bill Gates’ Breakthrough Energy Ventures and the real estate and construction focused venture firm Fifth Wall Ventures have joined the Amazon Climate Fund, Tony Fadell’s Future Shape, BMW’s iVentures fund and a host of other investors in backing the company.

The company has raised roughly $180 million in financing including the disclosure today of an $80 million investment round, which closed in October.

Buildings are clearly the current focus for Turntide, which only yesterday announced the acquisition of a small Santa Barbara, Calif.-based building management software developer called Riptide IO. But there’s also an application in another massive industry — electric vehicles.

“Two years from now we will definitely be in electric vehicles,” Morris said. 

“Our technology has huge advantages for the electric vehicle industry. There’s no rare earth minerals. Every EV uses rare earth minerals to get better performance of their electric motors,” he continued. “They’re expensive, destructive to mine and China controls 95 percent of the global supply chain for them. We do not use any exotic materials, rare earth minerals or magnets.. We’re replacing that with very advanced software and computation. It’s the first time Moore’s law applies to the motor.”

#amazon, #articles, #bmw, #california, #carbon-footprint, #china, #co-founder, #computing, #electricity, #energy, #energy-consumption, #fifth-wall-ventures, #footprint-coalition, #greenhouse-gas-emissions, #ipod, #real-estate, #tc, #tony-fadell, #u-s-department-of-energy, #united-states

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How Green Are Electric Vehicles?

In short: Very green. But plug-in cars still have environmental effects. Here’s a guide to the main issues and how they might be addressed.

#air-pollution, #alternative-and-renewable-energy, #batteries, #carbon-dioxide, #conservation-of-resources, #electric-and-hybrid-vehicles, #energy-efficiency, #environment, #fuel-efficiency, #fuel-emissions-transportation, #global-warming, #greenhouse-gas-emissions, #human-rights-and-human-rights-violations, #mines-and-mining, #oil-petroleum-and-gasoline, #pollution, #recycling-of-waste-materials, #water-pollution

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Miami Says It Can Adapt to Rising Seas. Not Everyone Is Convinced.

Officials have a new plan to manage rising water. Succeed or fail, it will very likely become a case study for other cities facing climate threats.

#floods, #florida-keys, #gentrification, #global-warming, #greenhouse-gas-emissions, #miami-dade-county-fla, #real-estate-and-housing-residential

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Geothermal startups get another boost from Chevron as the oil giant backs a geothermal project developer

The U.S.-based oil major Chevron is doubling down on its investment in geothermal power by investing in a Swedish developer of low-temperature geothermal and heat power projects called Baseload Capital.

Oil companies are under pressure to find new lines of business as the world prepares for a massive shift to renewable energy resources to power all aspects of industry in the face of mounting climate-related disasters caused by greenhouse gas emissions warming the temperature on the planet.

Joining Chevron in the investment was the ubiquitous billionaire-backed clean energy investment firm Breakthrough Energy Ventures and a Swedish investment group called Gullspang Invest AB.

The investment into Baseload follows closely on the heels of another commitment that Chevron made to the geothermal technology developer Eavor and a recent Breakthrough Energy Ventures investment in the Google-affiliated company, Dandelion Energy (a spinout from Google’s parent company’s moonshot technology development business unit, called X).

Dandelion and Eavor are just two examples of a groundswell of startups working to leverage the knowledge from the oil and gas industry to tap geothermal resources for applications ranging from baseload energy to home heating and cooling.

They’re joined by businesses like Fervo EnergyGreenFire Energy, and Sage Geosystems, who’re all leveraging heat to generate power.

As Chevron noted in its press release, heat power is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat.

The investments in Baseload and Eavor are financed by CTV’s Core Venture fund which identifies companies with technology that can add efficiencies to Chevron’s core business in operational enhancement, digitalization, and lower-carbon operations, the company said in a statement.

Together the two businesses are planning pilot projects to test technology and could look to current Baseload operations in Japan, Taiwan, Iceland or the United States to develop projects.

Financial terms of the deal were undisclosed. 

“In August, we announced that we were looking for a new strategic investor to help us accelerate deployment in our key markets,” said Baseload’s Chief Executive Officer Alexander Helling. “We couldn’t have asked for a better one. Chevron complements our group of owners and adds expertise in drilling, engineering, exploration and more. These assets are expected to accelerate our ability to deploy heat power and strengthen our way of working.”

 

#articles, #breakthrough-energy-ventures, #chevron, #chief-executive-officer, #dandelion-energy, #energy, #geothermal-energy, #google, #greenhouse-gas-emissions, #iceland, #investment, #japan, #major, #oil, #renewable-energy, #taiwan, #tc, #united-states

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Global Action Is ‘Very Far’ From What’s Needed to Avert Climate Chaos

New climate pledges submitted to the United Nations would reduce greenhouse gas emissions by less than 1 percent, the world body announced.

#global-warming, #greenhouse-gas-emissions, #guterres-antonio, #united-nations-framework-convention-on-climate-change

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How We Can Better Predict Weather Catastrophes

We need to develop an early warning system to forecast climate-induced extreme weather events.

#arctic-regions, #biden-joseph-r-jr, #carbon-dioxide, #earth, #global-warming, #greenhouse-gas-emissions, #hurricanes-and-tropical-storms, #national-aeronautics-and-space-administration, #siberia, #united-nations-framework-convention-on-climate-change, #weather

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How We Can Better Predict Weather Catastrophes

We need to develop an early warning system to forecast climate-induced extreme weather events.

#arctic-regions, #biden-joseph-r-jr, #carbon-dioxide, #earth, #global-warming, #greenhouse-gas-emissions, #hurricanes-and-tropical-storms, #national-aeronautics-and-space-administration, #siberia, #united-nations-framework-convention-on-climate-change, #weather

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The carbon offset API developer Patch confirms a $4.5 million round led by Andreessen Horowitz

Patch, the carbon offset API developer, has raised $4.5 million in financing to build out its business selling customers a way to calculate their carbon footprint and identify and finance offset projects that capture the equivalent carbon dioxide emissions associated with that footprint. 

Confirming TechCrunch reporting, Andreessen Horowitz led the round, which also included previous investors VersionOne Ventures, MapleVC, and Pale Blue Dot Ventures.

Patch’s application protocol interface works for both internal and customer-facing operations. The company’s code can integrate into the user experience on a company’s internal site to track things like business flights for employees, recommending and managing the purchase of carbon credits to offset employee travel.

The software allows companies to choose which projects they’d like to finance to support the removal of carbon dioxide from the atmosphere with projects ranging from the tried and true reforestation and conservation projects to more high tech early stage technologies like direct air capture and sequestration projects, the company said. 

Patch founders Brennan Spellacy and Aaron Grunfeld, two former employees at the apartment rental service Sonder, stressed in an interview that the company’s offset work should not be viewed as an alternative to the decarbonization of businesses that use its service. Rather, they see Patch’s services as a compliment to other work companies need to do to transition away from a reliance on fossil fuels in business operations.

Patch co-founders Brennon Spellacy and Aaron Grunfeld. Image Credit: Patch

Patch currently works with 11 carbon removal suppliers and has plans to onboard another 10 before the end of the first quarter, the company said. These are companies like CarbonCure, which injects carbon dioxide into cement and fixes it so that it’s embedded in building materials for as long as a building lasts.

“Carbon removal credits can help to dramatically accelerate the deployment of technologies like CarbonCure’s, which are absolutely critical to helping us reach our global climate targets. Demand for high-quality, permanent credits is sky-rocketing, and listing credits on Patch will help us to attract a broader range of buyers,” said Jennifer Wagner, President of CarbonCure Technologies, in a statement. 

It also has around 15 customers already using its service, according to earlier TechCrunch reporting. Those buyers include companies like TripAction and the private equity firm EQT, which intends to extend the integration of Patch’s API from its own operations to those of its portfolio companies down the road, according to Spellacy.

Grunfeld said that the company would be spending the money to hire more staff and developing new products. From its current headcount of six employees, Patch intends to bring on another 24 by the end of the year.

As the company expands, it’s looking to some of the startups providing carbon emissions audit and verification services as a channel that the company’s API can integrate with and sell through.  These would be businesses like  CarbonChainPersefoni, and another Y Combinator graduate, SINAI Technologies.

For project developers like CarbonCure, which makes direct air capture technology, companies like

“An increasing number of businesses are taking leadership positions in an effort to reduce emissions to try to counteract global warming,” said Jeff Jordan, Managing Partner at Andreessen Horowitz. “Patch makes it much easier for companies to add carbon removal to their core business processes, aggregating verified carbon-removal supply and offering turn-key access to it to companies through an easy-to-implement API.”

#andreessen-horowitz, #api, #articles, #carbon-footprint, #carboncure-technologies, #energy, #eqt, #greenhouse-gas-emissions, #greenhouse-gases, #jeff-jordan, #managing-partner, #president, #sinai-technologies, #tc, #y-combinator

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Ag monitoring startup Flurostat merges with soil carbon expert Dagan to form Regrow

Flurostat and Dagan, two startups that both are tackling the monitoring and management of agricultural inputs and outputs for a better understanding of the role sustainable agriculture can play in reducing greenhouse gas emissions, have merged and are launching a package of services under a new brand, Regrow.

The merge, announced yesterday, will create a company that combines Flurostat’s data driven agriculture management services with Dagan’s soil biogeochemical modeling technology, the companies said in a joint statement. 

The combined companies will have the ability to provide satellite collected data to optimize crop management and adoption of conservation practices along with site-specific analysis and custom interventions for different crops, fields, farms, and regions.

Dagan co-founder Dr. William Salas said that the combined companies will be able to have a better handle on the market for carbon emissions — thanks in no small part to Dagan’s work on soil carbon.

“Soil carbon sequestration is finally emerging as a globally relevant strategy for drawing down excess atmospheric carbon dioxide. Shortcuts, misconceptions and over-hyping have the potential to stunt the tremendous potential of soil carbon,” Salas said in a statement. “But the merger of FluroSat and Dagan will give the industry the confidence and integrity it needs with best-in-class soil health data that can prescribe site-specific strategies and provide accuracy and transparency that will help companies succeed in carbon markets.”

Terms of the merger were not disclosed, but FluroSat had previously raised roughly $8.6 million in equity and grant funding led by Microsoft’s M12 venture fund, according to data from Crunchbase.

“Over the next decade, we need to grow and produce enough food to nourish 10 billion people around the world in a way that protects our land and stems climate change,” says Ranveer Chandra, Chief Scientist, Azure Global at Microsoft. “Regrow’s computational agriculture, using machine learning and scientific modeling, will help improve the accuracy of accounting for soil carbon, and bring farmers closer to benefitting from carbon markets.”

 

#articles, #carbon, #carbon-sequestration, #co-founder, #food, #greenhouse-gas, #greenhouse-gas-emissions, #machine-learning, #microsoft, #tc

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Deb Haaland, Biden’s Pick for Interior Dept., Embodies Partisan Chasm

President Biden’s choice for interior secretary faces her confirmation hearing on Tuesday. No other cabinet nominee has divided the two main parties as sharply as she has.

#appointments-and-executive-changes, #biden-joseph-r-jr, #global-warming, #greenhouse-gas-emissions, #haaland-deb, #interior-department, #native-americans, #united-states-politics-and-government

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Companies Say They Care About the Climate. Their Actions Fall Short.

Many big businesses have not set targets for reducing greenhouse gas emissions. Others have weak goals.

#alternative-and-renewable-energy, #blackrock-inc, #boards-of-directors, #brazil, #carbon-dioxide, #carbon-disclosure-project-cdp, #cargill-inc, #corporations, #electric-light-and-power, #fuel-emissions-transportation, #global-warming, #google-inc, #greenhouse-gas-emissions, #institutional-shareholder-services-inc, #levi-straussco, #microsoft-corp, #standardpoors-500-stock-index, #stocks-and-bonds, #united-states

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Climate Threats Could Mean Big Jumps in Insurance Costs This Year

The federal government is revising rates for flood coverage on April 1. New data suggests premiums need to increase sharply for some homes.

#biden-joseph-r-jr, #building-construction, #federal-emergency-management-agency, #first-street-foundation, #flood-insurance, #floods, #global-warming, #greenhouse-gas-emissions, #trump-donald-j, #united-states-politics-and-government, #zoning

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When There’s No Heat: ‘You Need Wood, You Get Wood’

Community wood banks, like food banks, help people in need. Climate change is shaping their role.

#environment, #food-banks-and-pantries, #forests-and-forestry, #global-warming, #greenhouse-gas-emissions, #heating, #maine, #new-england-states-us, #unemployment, #volunteers-and-community-service, #weather, #winter-season, #wood-and-wood-products

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Texas Crisis Exposes a Nation’s Vulnerability to Climate Change

Continent-spanning storms triggered blackouts in Oklahoma and Mississippi, halted one third of U.S. oil production and disrupted vaccinations in 20 states.

#alternative-and-renewable-energy, #disasters-and-emergencies, #drought, #electric-light-and-power, #global-warming, #greenhouse-gas-emissions, #hurricanes-and-tropical-storms, #nuclear-energy, #power-failures-and-blackouts, #roads-and-traffic, #texas, #united-states, #waste-materials-and-disposal, #water-pollution

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For the first time the US DOT is carving out budget for climate and environmental justice projects

As part of the grant-making associated with the U.S. Department of Transportation’s Infrastructure for Rebuilding America program, the agency will for the first time carve out some of that program’s $889 million budget for projects addressing climate change and environmental justice.

The projects will be evaluated on whether they were planned as part of a comprehensive strategy to address climate change, or whether they support strategies to reduce greenhouse gas emissions such as deploying zero-emission-vehicle infrastructure or encouraging shifts in modes of transportation or vehicle miles traveled, the agency said in an announcement.

“As we work to recover and emerge from this devastating pandemic stronger than before, now is the time to make lasting investments in our nation’s infrastructure,” said Secretary Pete Buttigieg, in a statement. “We are committed to not just rebuilding our crumbling infrastructure, but building back in a way that positions American communities for success in the future—creating good paying jobs, boosting the economy, ensuring equity, and tackling our climate crisis. The INFRA grant program is a tremendous opportunity to help achieve these goals.

Racial equity will also be considered, according to the agency’s announcement. With requirements including equity-focused community outreach and projects designed to benefit underserved communities privileged, along with projects that are located in opportunity, empowerment, or promise zones or choice neighborhoods.

The new programs show just how quickly federal dollars could be made available to startups that are looking at electrification and provide more strength to the tailwinds already propelling the electric vehicle industry — and its attendant charging networks forward.

Large infrastructure projects could receive grants of $25 million or more while small projects must have grant requirements that meet a minimum threshold of at least $5 million, according to the DOT.

Eligible project costs could include: reconstruction, rehabilitation, acquisition of property (including land related to the project and improvements to the land), environmental mitigation, construction contingencies, equipment acquisition, and operational improvements directly related to system performance.

Opportunities for applications are going to be open through Friday, March 19.

#america, #articles, #greenhouse-gas-emissions, #infrastructure, #pete-buttigieg, #secretary, #tc, #u-s-department-of-transportation

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No, Wind Farms Aren’t the Main Cause of the Texas Blackouts

The state’s widespread electricity failure was largely caused by freezing natural gas pipelines. That didn’t stop advocates for fossil fuels from trying to shift blame.

#abbott-gregory-w-1957, #alternative-and-renewable-energy, #conservatism-us-politics, #environment, #global-warming, #greenhouse-gas-emissions, #power-failures-and-blackouts, #texas, #united-states-politics-and-government, #wind-power

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Citigroup’s $900 Million Defeat

Citi committed “one of the biggest blunders in banking history,” a federal judge says.

#banking-and-financial-institutions, #carlyle-group-lp, #citadel-investment-group, #citigroup-inc, #corporate-social-responsibility, #greenhouse-gas-emissions, #robinhood-financial-llc

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Texas Blackouts Hit Minority Neighborhoods Especially Hard

As the freak winter storm raged, historically marginalized communities were among the first to face power outages, experts say.

#electric-light-and-power, #environment, #global-warming, #greenhouse-gas-emissions, #power-failures-and-blackouts, #snow-and-snowstorms, #texas

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A Different Kind of Land Management: Let the Cows Stomp

Regenerative grazing can store more carbon in soils in the form of roots and other plant tissues. But how much can it really help the fight against climate change?

#agriculture-and-farming, #cattle, #environment, #global-warming, #greenhouse-gas-emissions, #sustainable-living, #texas

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A Glimpse of the Future in Texas: Climate Change Means Trouble for Power Grids

Systems are designed to handle spikes in demand, but the wild and unpredictable weather linked to global warming will very likely push grids beyond their limits.

#alternative-and-renewable-energy, #global-warming, #greenhouse-gas-emissions, #heating, #power-failures-and-blackouts, #snow-and-snowstorms, #texas

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How Pandemic Lunches Gave Me Hope for the Planet

My daughter’s lockdown achievement is that she does not let food go to waste. It’s reminded me that humans don’t have to leave a mass of trash in their wake.

#cooking-and-cookbooks, #environment, #global-warming, #greenhouse-gas-emissions, #quarantine-life-and-culture

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Warming and Warnings From the High Himalayas

The region is warming much faster than much of the planet, and the consequences are already showing.

#biden-joseph-r-jr, #drought, #floods, #global-warming, #greenhouse-gas-emissions, #himalayas, #monsoons, #research, #south-asia

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EV charging stations, biofuels, the hydrogen transition and chemicals are pillars of Shell’s climate plan

Royal Dutch Shell Group, one of the largest publicly traded oil producers in the world, just laid out its plan for how the company will survive in a zero-emission, climate conscious world.

It’s a plan that rests on five main pillars that include the massive rollout of electric vehicle charging stations; a greater emphasis on lubricants, chemicals, and biofuels; the development of a significantly larger renewable energy generation portfolio and carbon offset plan; and the continued development of hydrogen and natural gas assets while slashing oil production by 1% to 2% per year and investing heavily in carbon capture and storage.

These four large categories cut across the company’s business operations and represent one of the most comprehensive (if high level) plans from a major oil company on how to keep their industry from becoming the next victim of the transition to low emission (and eventually) zero emission energy and power sources (I’m looking at you, coal industry).

“Our accelerated strategy will drive down carbon emissions and will deliver value for our shareholders, our customers and wider society,” said Royal Dutch Shell Chief Executive Officer, Ben van Beurden, in a statement.

To keep those shareholders from abandoning ship, the company also committed to slashing costs and boosting its dividend per share by around 4% per year. That means giving money back to investors that might have been spent on expensive oil and gas exploration operations. The company also committed too pay down its debt and make its payouts to shareholders 20% to 30% of its cash flow from operations. That’s… very generous.

gas vs electric vehicles

Image Credits: Bryce Durbin

The Plan

Shell is a massive business with more than 1 million commercial and industrial customers and about 30 million customers coming to its 46,000 retail service stations daily, according to the company’s own estimates. The company organized its thinking around what it sees as growth opportunities, energy transition opportunities, and then the gradual obsolescence of its upstream drilling and petroleum production operations.

In what it sees as areas for growth, Shell intends to invest around $5 billion to $6 billion to its initiatives including the development of 500,000 electric vehicle charging locations by 2025 (up from 60,000 today) and an attendant boost in retail and service locations to facilitate charging.

The company also said it would be investing heavily in the expansion of biofuels and renewable energy generation and carbon offsets. The company wants to generate 560 terawatt hours a year by 2030, which is double the amount of electricity it generates today. Expect to see Shell operate as an independent power producer that will provide renewable energy generation as a service to an expected 15 million retail and commercial customers.

Finally the company sees the hydrogen economy as another area where it can grow.

In places where Shell already has assets that can be transitioned to the low carbon economy, the company’s going to be doubling down on its bets. That means zero emission natural gas production and a trebling down on chemicals manufacturing (watch out Dow and BASF). That means more recycling as well, as the company intends to process 1 million tons of plastic waste to produce circular chemicals.

Upstream, which was the heart of the oil and gas business for years, the company said it would “focus on value over volume” in a statement. What that means in practice is looking for easier, low cost wells to drill (something that points to the continued importance of the Middle East in the oil economy for the foreseeable future). The company expects to reduce its oil production by around 1% to 2% per year. And the company’s going to be investing in carbon capture and storage to the tune of 25 million tons per year through projects like the Quest CCS development in Canada, Norway’s Northern Lights project, and the Porthos project n the Netherlands.

“We must give our customers the products and services they want and need – products that have the lowest environmental impact,” van Beurden said in a statement.”At the same time, we will use our established strengths to build on our competitive portfolio as we make the transition to be a net-zero emissions business in step with society.”

Money or finance green pattern with dollar banknotes. Banking, cashback, payment, e-commerce. Vector background.

Money talk

For the company to survive in a world where revenues from its main business are cut, it’s also going to be keeping operating expenses down and will be looking to sell off big chunks of the business that no longer make sense.

That means expenses of no more than $35 billion per year and sales of around $4 billion per year to keep those dividends and cash to investors flowing.

“Over time the balance of capital spending will shift towards the businesses in the Growth pillar, attracting around half of the additional capital spend,” the company said. “Cash flow will follow the same trend and in the long term will become less exposed to oil and gas prices, with a stronger link to broader economic growth.”

Shell set targets for reducing its carbon intensity as part of the pay that’s going to all of the company’s staff and those targets are… eye opening. It’s looking at reductions in carbon intensity of 6-8% by 2023, 20% by 2030, 45% by 2035 and 100% by 2050, using a baseline of 2016 as its benchmark.

The company said that its own carbon emissions peaked in 2018 at 1.7 giga-tons per year and its oil production peaked in 2019.

The context

Shell’s not taking these steps because it wants to, necessarily. The writing is on the wall that unless something dramatic is done to stop fossil fuel pollution and climate change, the world faces serious consequences.

A study released earlier this week indicated that air pollution from fossil fuels killed 18% of the world’s population. That means burning fossil fuels is almost as deadly as cancer, according to the study from researchers led by Harvard University.

Beyond the human toll directly tied to fossil fuels, there’s the huge cost of climate change, which the U.S. estimated could cost $500 billion per year by 2090 unless steps are taken to reverse course.

#air-pollution, #articles, #basf, #biofuels, #canada, #chemicals, #chief-executive-officer, #e-commerce, #electricity, #energy, #greenhouse-gas-emissions, #harvard-university, #middle-east, #netherlands, #norway, #oil, #oil-and-gas, #renewable-energy, #tc, #united-states

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Thieves Nationwide Are Slithering Under Cars, Swiping Catalytic Converters

The pollution-control gadgets are full of precious metals like palladium, and prices are soaring as regulators try to tame emissions. Crooks with hacksaws have noticed.

#automobiles, #crime-and-criminals, #environment, #global-warming, #greenhouse-gas-emissions, #robberies-and-thefts

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A Surprise in Africa: Air Pollution Falls as Economies Rise

Air quality is improving in one of the continent’s fastest-growing regions, researchers have found. If the trend can be sustained, it would be good news for human health and climate change.

#africa, #agriculture-and-farming, #air-pollution, #alternative-and-renewable-energy, #economic-conditions-and-trends, #global-warming, #greenhouse-gas-emissions, #pnas-journal, #research, #wildfires

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Coal-Fired Power Took a Beating During the Pandemic, Study Finds

A broad move away from coal power was an important factor in pushing down global greenhouse gas emissions, researchers said, and could help accelerate a shift toward renewable energy.

#alternative-and-renewable-energy, #coal, #edenhofer-ottmar, #global-warming, #greenhouse-gas-emissions, #natural-gas, #potsdam-institute-for-climate-impact-research, #research

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The Task Ahead for Biden on Climate

The new president has shown a welcome interest in combating climate change. But more will need to be done.

#biden-joseph-r-jr, #environmental-protection-agency, #executive-orders-and-memorandums, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #united-states, #united-states-politics-and-government

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This Climate Deal Is Good for Earth and the Economy

More than 100 nations have approved an accord phasing down a planet-warming coolant. The U.S. isn’t among them.

#biden-joseph-r-jr, #global-warming, #greenhouse-gas-emissions, #hydrofluorocarbons, #international-trade-and-world-market, #obama-barack, #treaties, #trump-donald-j, #united-states, #united-states-economy

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Tickr, which allows retail investors to back Impact companies, secures $3.4M from Ada Ventures

Tickr, an app that allows UK consumers to make financial investments based on their impact on society and the environment, has secured £2.5m ($3.4m) in funding lead by Ada Ventures, a VC which focuses on ‘impact’ startups. The cash will be used for product development, expanding the user base, and eventually taking Tickr into other European countries from its current UK base.

As well as investing, the platform allows customers to spend their cash via partnerships with impact-oriented compares, and offset their carbon footprint through a subscription. The core business model is £1 p/m per customer, plus 0.30% on assets above £3,000. Additional products, like carbon offsets, for example, are charged as a separate additional subscription depending on the tier selected.

The startup says it is approaching 100,000 users in the UK and is reaching a millennial audience 90% of which have ‘never invested before’ (they say) and these users are investing £250 per month on average.

Tickr App

Tickr App

The app is not billed as a trading app, with quick ‘in and outs’ but about building wealth whilst investing in a diversified portfolio of high impact companies. Its competitors include MoneyBox, but Tickr says it is “100% pure impact focus” by contrast. The vast majority of Europeans don’t invest in markets so this could be a good opportunity for the product.

Founders Tom McGillycuddy and Matt Latham spent 8 years working in investment management but say they became disillusioned by the jargon, high fees and indifference to causes such as the environment.

Over text interview, McGillycuddy told me: “We also realized there was zero consideration for the underlying impact of the investments people were making; it was purely about the return. Coming from Wigan and Liverpool, we were the first people in our families to be exposed to this world, and it didn’t seem right.” The pair moved into impact investing and subsequently went on to launch Tickr in 2018.

#ada-ventures, #articles, #carbon-footprint, #economy, #europe, #greenhouse-gas-emissions, #liverpool, #renewable-energy, #startup-company, #tc, #united-kingdom

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What Working in the Oil Industry Taught Me

What my time working on a North Dakota oil patch taught me about America’s fossil fuel addiction — and how to curb it.

#biden-joseph-r-jr, #greenhouse-gas-emissions, #hydraulic-fracturing, #infrastructure-public-works, #labor-and-jobs, #migrant-labor-non-agriculture, #north-dakota, #oil-petroleum-and-gasoline, #pipelines, #united-states-politics-and-government, #williston-nd

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Andreessen Horowitz could make the carbon offset API Patch its latest climate bet

The early-stage carbon offset API developer, Patch, could be another one of Andreessen Horowitz’s early bets on climate tech.

According to several people with knowledge of the investment round, former OpenTable chief executive and current Andreessen Horowitz partner Jeff Jordan is looking at leading the young company’s latest financing.

Such an investment would be a win for Patch, which could benefit from Andreessen Horowitz’s marketing muscle in a space that’s becoming increasingly crowded. And, if the deal goes through, it could be an indicator of more to come from one of the venture industry’s most (socially) active investors.

Companies like Pachama, Cloverly, Carbon Interface, and Cooler.dev all have similar API offerings, but the market for these types of services will likely expand as more companies try to do the least amount of work possible to become carbon neutral through offsetting. A growing market could generate space for more than one venture-backed winner.

Neither Patch’s co-founders nor Andreessen Horowitz responded to a request for comment about the funding.

One concern with services like Patch is that its customers will look at offsetting as their final destination instead of a step on the road to removing carbon emissions from business operations. To fix our climate crisis will take more work.

Founded by Brennan Spellacy and Aaron Grunfeld, two former employees at the apartment rental service Sonder, Patch raised its initial financing from VersionOne Ventures back in September.

Around 15 to twenty companies that are using the service now, according to people familiar with the company’s operations.

The company has an API that can calculate a company’s emissions footprint based on an integration with their ERP system and then invests money into offset projects that are designed to remove an equivalent amount of carbon dioxide.

While services like Pachama privilege lower-cost sequestration solutions like reforestation and forest management, Patch offers an array of potential investment opportunities for offsets. And the company tries to nudge its customers to some of the more expensive, high technology options in an effort to bring down costs for emerging technologies, said one person familiar with the company’s plans.

Like other services automating offsetting, Patch evaluates projects based on their additionality (how much additional carbon they’re removing over an already established baseline), permanence (how long the carbon emissions will be sequestered) and verifiability.

And, as the company’s founders note in their own statement about the company’s service, it’s not intended to be the only solution that customers deploy.

“The majority of climate models indicate that we need to reduce our emissions globally, while also removing carbon dioxide from the atmosphere,” the founders wrote in a Medium post. “We take care of a company’s carbon removal goals, while they focus their efforts on reducing emissions, a more proprietary task that requires intimate operational knowledge. Patch complements this behavioral shift and gives us a real chance to mitigate climate change.”

VersionOne’s Angela Tran addressed any concerns about the defensibility of Patch’s technology in her own September announcement.

“We also believe that defensibility comes with the aggregation and “digitization” of quality supply. When we view Patch as a marketplace, we believe that businesses (demand) care about the type of projects (supply) they purchase to neutralize their emissions,” Tran wrote. “For example, a company might choose their sustainability legacy to be linked with forestry or mineralization projects. Patch is partnering with the best carbon removal developers and the latest negative emission technologies to build a network of low-cost, impactful projects.”

While Patch is explicitly focused on climate change, Andreessen has made a few early investments in a broad sustainability thesis. The firm led a $9 million investment into Silo last year and backed KoBold Metals back in 2019.

Silo has developed an enterprise resource planning tool for perishable food supply chains. Currently focused on wholesale produce, Silo said in a statement last year that it would be extending its services to meat, dairy and pantry items over the next year.

“The market potential for an innovator like Silo to reduce waste and improve margins is enormous and we’re excited to support its efforts as the system of record for food distribution in the United States,” said Anish Acharya, General Partner at Andreessen Horowitz, in a statement at the time. “Silo is well-positioned to scale beyond the west coast to help more customers modernize and transition their operations from pen and paper to software.”

Meanwhile, KoBold is a software developer that uses machine learning and big data processing technologies to find new prospects for the precious metals that companies need to make new batteries and renewable energy generation technologies.

“By building a digital prospecting engine — full stack, from scratch — using computer vision, machine learning, and sophisticated data analysis not currently available to the industry, KoBold’s software combines previously unavailable, dark data with conventional geochemical, geophysical, and geological data to identify prospects in models that can only get better over time, as with other data network effects,” wrote Connie Chan in a blog post at the time.

Taken together, these investments coalesce into a picture of how Andreessen Horowitz and its pool of $16.5 billion in assets under management may approach the renewables industry.

#andreessen, #andreessen-horowitz, #anish-acharya, #api, #chemistry, #general-partner, #greenhouse-gas-emissions, #jeff-jordan, #opentable, #pachama, #patch, #renewable-energy, #tc, #united-states, #west-coast

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Got Climate Anxiety? These People Are Doing Something About It

Distress over global warming is increasing, but formal and informal support networks are springing up, too.

#anxiety-and-stress, #global-warming, #greenhouse-gas-emissions, #mental-health-and-disorders, #therapy-and-rehabilitation

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Automakers Drop Efforts to Derail California Climate Rules

Momentum is shifting toward a clean-car future as more automakers end their legal efforts to block California’s tough fuel economy standards.

#automobiles, #biden-joseph-r-jr, #buttigieg-pete-1982, #environment, #fuel-efficiency, #global-warming, #greenhouse-gas-emissions, #presidential-election-of-2020, #united-states-politics-and-government

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After a Bruising Year, the Oil Industry Confronts a Diminished Future

Big oil companies lost billions in 2020 because of the pandemic and face broad questions about how they will adapt to climate change and regulations.

#automobiles, #biden-joseph-r-jr, #bp-plc, #coronavirus-2019-ncov, #electric-and-hybrid-vehicles, #europe, #exxon-mobil-corp, #fuel-efficiency, #greenhouse-gas-emissions, #looney-bernard-1970, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #united-states, #woods-darren-w-1965

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U.S. Cities Are Vastly Undercounting Emissions, Researchers Find

Inconsistent and flawed data is undercutting efforts to reduce greenhouse gas emissions from American cities, according to a new study.

#global-warming, #greenhouse-gas-emissions, #gurney-kevin-r, #nature-communications-journal, #research, #united-nations-framework-convention-on-climate-change, #urban-areas

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A Consensus Builder for E.P.A. When Some Want a Fighter

President Biden’s pick to lead the E.P.A. knows how to reach out to Republicans, but in a polarized Washington, some worry he doesn’t know how to fight them.

#appointments-and-executive-changes, #biden-joseph-r-jr, #environment, #environmental-protection-agency, #global-warming, #greenhouse-gas-emissions, #regan-michael-s-1976, #united-states-politics-and-government

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China launched its national carbon trading market yesterday

Yesterday, China flipped the switch on a nationwide carbon trading market, in what could be one of the most significant steps taken to reduce greenhouse gas emissions in 2021 — if the markets can work effectively.

China is the world’s largest emitter of greenhouse gases and its share of the world’s emissions output continues to climb.

As the Chinese government works to curb its environmental impact, policies like a carbon trading system could spur the adoption of new technologies, increasing demand for goods and services from domestic startups and tech companies around the world.

Carbon markets, implemented in some parts of the U.S. and widely across Europe, put a price on industrial emissions and force companies to offset those emissions by investing in projects that would remove an equivalent portion of greenhouse gases from the atmosphere.

They’re a key component of the 2015 Paris Agreement, but they’re also a controversial one. That’s because if they’re not implemented properly and managed effectively they can be a “massive loophole” for emitters, as Gilles Dufrasne, policy officer at Carbon Markets Watch, told Time last year.

This is especially true of China. Corruption in China is endemic and the country has long sacrificed environmental policy and stewardship at the altar of economic growth. China’s not alone in making that calculus, but the decisions have happened at a scale orders of magnitude larger than almost any other nation (with the exception of the U.S.)

The efficacy of the policy is also effected by the hierarchies that exist within the bureaucracy of the Chinese Communist Party. As ChinaDialogue noted, the measures were issued by the Ministry of Ecology and Environment, which carry lower legal authority than if they came from the NDRC, the leading governing body for macroeconomic policy across China and the overseer of the nation’s major economic initiatives.

That said, no country as large as China, which accounts for 28% of the world’s greenhouse gas emissions, has ever implemented a national carbon emissions trading market.

BEIJING, CHINA – MARCH 20: Chinese President Xi Jinping delivers a speech during the closing session of the National People’s Congress (NPC) at the Great Hall of the People on March 20, 2018 in Beijing, China. (Photo by Lintao Zhang/Getty Images)

China first started testing regional emissions trading systems back in 2011 in Shenzhen, Shanghai, Beijing, Guangdong, Tianjin, Hubei, Chongqing and Fujian. Using a system that instituted caps on emissions based on carbon intensity (emissions per unit of GDP) rather than an absolute emissions cap, the Chinese government began rolling out these pilots across its power sector and to other industries.

After a restructuring in 2018, the plan, which was initially drafted under the auspices of the National Development and Reform Commission was kicked down to the Ministry of Ecology and the Environment. The devolution of China’s cap and trade emissions program came as the United States was withdrawing from the Paris Agreement amid an abdication of climate regulation or initiatives under the Presidency of Donald Trump.

Initially intended to begin with trading simulations in 2020, China’s emissions schemes were derailed by the COVID-19 pandemic and pushed back to the back half of the year with an implementation of actual trading starting yesterday.

For now, the emissions trading system covers China’s power industry and roughly 2,000 energy generation facilities. That alone represents 30% of the nation’s total emissions and over time the trading system will encompass heavy industry like cement, steel, aluminum, chemicals and oil and gas, according to ChinaDialogue.

Initially, the government is allocating emissions allowances for free and will begin auctioning allowances “at the appropriate time according to the situation.”

That kind of language, and concerns raised by state-owned enterprises and financial services firms flagging the effect carbon pricing could have on profitability and lending risk shows that the government in Beijing is still putting more weight on the economic benefits rather than environmental costs of much of its industrial growth.

That said, a survey of market participants cited by ChinaDialogue indicated that prices are expected to start at 41 yuan (US$6.3) per ton of CO2 and rise to 66 yuan per ton in 2025. The price of carbon in China is expected to hit 77 yuan by 2030.

Meanwhile, a commission on carbon prices formed in 2017 and helmed by the economists Joseph Stiglitz and Nicholas Stern indicated that carbon needed to be priced at somewhere between $40 and $80 by 2020 and somewhere in the $50 to $100 range by 2030 if the markets and prices were to have any impact on behavior.

No nation has actually hit those price targets, although the European Union has come the closest — and seen the most reduction in greenhouse gas emissions as a result.

Still, the plan from the Chinese government does include public reporting requirements for verified company-level emissions. And the existence of a market, if the government decides to put real prices in place and consequences for flouting the system, could be a huge boon for the monitoring and management equipment startups that are developing tech to track emissions.

As the analysts at ChinaDialogue note:

“The hardest part of carbon pricing is often getting it started. The moment that the Chinese government decides to increase ambition with the national ETS, it can. The mechanism is now in place, and it can be ramped up if the momentum and political will provided by President Xi’s climate ambition continues. In the coming years, this could see an absolute and decreasing cap, more sectors covered, more transparent data provision and more effective cross-government coordination. This is especially so with energy and industrial regulators who will need to see the ETS not as a threat to their turf, but as a measure with significant co-benefits for their own policy objectives.”

#articles, #beijing, #chemicals, #china, #chinese-communist-party, #donald-trump, #energy, #europe, #european-union, #greenhouse-gas-emissions, #oil-and-gas, #president, #shanghai, #shenzhen, #steel, #tc, #united-states, #xi

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The Daily: Joe Biden’s Climate Plan

The president has signed several executive orders for environmental policies since taking office. But the real work of reducing America’s emissions has just begun.

#biden-joseph-r-jr, #fuel-emissions-transportation, #global-warming, #greenhouse-gas-emissions, #trump-donald-j, #united-states-politics-and-government

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G.M. and the Electric-Car Comeback

The end of the gasoline-powered car will transform the economy.

#alternative-and-renewable-energy, #automobiles, #barra-mary-t, #biden-joseph-r-jr, #electric-and-hybrid-vehicles, #electric-light-and-power, #energy-efficiency, #fuel-efficiency, #fuel-emissions-transportation, #general-motors, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #united-states

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Biden to Free Up Billions in Delayed Puerto Rico Storm Aid

The administration plans to release $1.3 billion that was meant to help Puerto Rico rebuild after Hurricane Maria in 2017, and will remove restrictions on another $4.9 billion.

#biden-joseph-r-jr, #environment, #federal-aid-us, #global-warming, #greenhouse-gas-emissions, #housing-and-urban-development-department, #humanitarian-aid, #hurricane-maria-2017, #puerto-rico, #trump-donald-j, #united-states-politics-and-government

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Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms

The administration has pledged to make agriculture a cornerstone of its plan to fight warming, but also to tackle a legacy of discrimination that has pushed Black farmers off the land.

#agriculture-and-farming, #agriculture-department, #black-people, #civil-rights-and-liberties, #discrimination, #global-warming, #greenhouse-gas-emissions, #income-inequality, #united-states-politics-and-government

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G.M. Announcement Shakes Up U.S. Automakers’ Transition to Electric Cars

Every carmaker is trying to figure out how to make the leap before governments force it and Tesla and other start-ups lure away drivers.

#automobiles, #barra-mary-t, #biden-joseph-r-jr, #china, #dingell-deborah, #electric-and-hybrid-vehicles, #environmental-protection-agency, #ford-motor-co, #fuel-efficiency, #fuel-emissions-transportation, #general-motors, #global-warming, #greenhouse-gas-emissions, #tesla-motors-inc, #trump-donald-j, #united-states-politics-and-government, #volkswagen-ag

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Electric Cars Are Coming, and Fast. Is the Nation’s Grid Up to It?

GM’s decision this week to phase out gasoline vehicles is the latest in a major shift that will mean drastic new demands on electric utilities. Here are four things that will need to happen.

#automobiles, #electric-and-hybrid-vehicles, #environment, #general-motors, #global-warming, #greenhouse-gas-emissions, #infrastructure-public-works

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Former U.S. Climate Leaders Press Biden on Amazon Deforestation

Former environmental officials from both parties are pressing President Biden to counter deforestation in the Amazon, especially in Brazil.

#amazon-jungle, #babbitt-bruce, #biden-joseph-r-jr, #environment, #forests-and-forestry, #global-warming, #greenhouse-gas-emissions, #united-states-international-relations, #united-states-politics-and-government

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G.M. Will Only Sell Zero-Emission Vehicles by 2035

The move, one of the most ambitious in the auto industry, is a piece of a broader plan by the company to become carbon neutral by 2040.

#automobiles, #barra-mary-t, #biden-joseph-r-jr, #electric-and-hybrid-vehicles, #fuel-emissions-transportation, #general-motors, #greenhouse-gas-emissions, #united-states, #united-states-politics-and-government

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President Biden to Sign Executive Order, Pausing Oil and Gas Leasing

The array of directives — touching on international relations, drilling policy, employment and national security, among other things — elevate climate change across every level of the federal government.

#biden-joseph-r-jr, #environment, #executive-orders-and-memorandums, #global-warming, #greenhouse-gas-emissions, #kerry-john, #land-use-policies, #mccarthy-gina, #offshore-drilling-and-exploration, #oil-petroleum-and-gasoline, #united-states-politics-and-government

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Joe Biden and Tom Vilsack’s Big Plan to Save Rural America

Joe Biden and Tom Vilsack plan to take swift action on climate change proposals.

#agriculture-and-farming, #agriculture-department, #biden-joseph-r-jr, #carbon-capture-and-sequestration, #democratic-party, #farm-bill-us, #global-warming, #greenhouse-gas-emissions, #iowa, #rural-areas, #solar-energy, #united-states, #vilsack-tom, #wind-power

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How Biden’s Climate Ambitions Could Shift America’s Global Footprint

Serious efforts to address global warming might mean big changes for America’s trade, foreign relations and even defense strategy.

#alternative-and-renewable-energy, #biden-joseph-r-jr, #china, #coal, #european-union, #foreign-aid, #foreign-investments, #global-warming, #greenhouse-gas-emissions, #kerry-john, #oil-petroleum-and-gasoline, #united-nations-framework-convention-on-climate-change, #united-states-international-relations, #united-states-politics-and-government

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What Can the DOE Actually Do on Climate?

President Biden’s nominee to lead the Department of Energy would control powerful levers to promote clean-energy technologies, though that’s not the agency’s only job. Still, here are five possible steps.

#alternative-and-renewable-energy, #appointments-and-executive-changes, #energy-and-power, #energy-department, #environment, #global-warming, #granholm-jennifer-m, #greenhouse-gas-emissions, #united-states-politics-and-government

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Renewable investment wave continues as solar lending company Loanpal raises $800 million

Days after the billionaire investor Chamath Palihapitiya announced his involvement in the $1.3 billion acquisition of the solar and home improvement lending business Sunlight Financial, a collection of investors announced a nearly $1 billion cash infusion into Loanpal, another renewable energy and home improvement lender.

The $800 million commitment to Loanpal arrives alongside a flurry of climate commitments from some of the world’s largest investors.

Yesterday, Blackrock chief Larry Fink, released the $9 trillion investment manager’s annual letter calling for more stringent accounting and reporting of climate data, and Bank of America joined 60 other companies in committing to a new reporting standard for climate and sustainability endorsed by the International Business Council and the World Economic Forum. Fink endorses a separate reporting scheme called the Task Force on Climate Related Financial Disclosures that has the backing of some of the biggest financial investors in the world.

These new standards will drive more investment dollars into businesses that are reducing the greenhouse gas emissions that contribute to global climate change. And lending programs incentivizing the switch to more energy efficient appliances and renewable installations are probably the lowest of low hanging fruit for the financial services industry.

That’s one reason why investors like NEA, the WestCap Group, Brookfield Asset Management, and the giant private equity energy investment fund Riverstone Holdings are backing Loanpal.

The deal, which was a secondary transaction to give strategic investors a stake in the business actually wrapped up last year. As a result Scott Sandell, the managing general partner at NEA and a longtime investor in pr and Laurence Tosi, Managing Partner of WestCap Group, have joined the company’s board of directors.

“We invited a number of players into the company,” said Loanpal’s founder, chairman and chief executive Hayes Barnard. The former chief revenue officer for SolarCity before its acquisition by Tesla, Barnard has a long history with solar energy development. At Loanpal he also had the balance sheet to take his pick among would-be investors. “We’re a multi-billion dollar company,” said Barnard.

Loanpal founder chairman and chief executive, Hayes Barnard. Image Credit: Loanpal

“This was us inviting strategic investors into the company and being thoughtful about where they could help and how they could help,” Barnard said.

Loanpal is profitable, has zero debt and throws off monthly dividends to its financial backers. “Today we finance $400 million a month for roughly 15,000 solar systems that are combined with battery systems,” says Barnard. In all, the company has arranged $5.9 billion in consumer finance loans since its launch in 2018. Loanpal also counts around 85% of the top solar firms as vendors and has a staff of around 12,000 sales professionals.

Those numbers allowed the company to bring in board members like Tosi, the former chief financial officer of the multi-billion dollar financial services firm, Blackstone. “He really understands how to bring in capital markets at scale,” said Barnard. 

If anything, the attention from Blackrock, Blackstone, Riverstone and all the financial services firms without references to stones or rocks in their name shows that this is a problem of capital at scale. Decarbonizing the global economy is a $10 trillion business, according to the World Economic Forum (or, for the retail investment crowd, the equivalent of roughly 66.7 billion Gamestops at yesterday’s share price).

The near term market that we’re going to penetrate now is sustainable home solutions that’s a $100 billion market,” Barnard said. 

A significant chunk of that $10 trillion is going to come from the development and integration of new consumer facing appliances and hardware to reduce the consumption of energy. “We believe the battery storage market, the smart thermostat market and the solar market are all intertwined and combined,” said Barnard. “Overall the most important thing is that this is just technology that is better. It was going to scale regardless of who was in the White House. These pieces of technology are better, they save homeowners money.. It’s kind of an IQ test if homeowners want to do it.”

#bank-of-america, #blackrock, #blackstone, #chamath-palihapitiya, #chief-financial-officer, #economy, #energy, #finance, #general-partner, #greenhouse-gas-emissions, #laurence-tosi, #managing-partner, #money, #nea, #officer, #private-equity, #renewable-energy, #riverstone-holdings, #scott-sandell, #solarcity, #tc, #tesla, #white-house, #world-economic-forum

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