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Both are mostly high-rise communities, growing fast and densely populated, but they represent two very different realities from a climate and sustainability perspective. One way is to focus on modernizing the buildings we already have, to create neighborhoods that adapt to the individual needs of residents. In a climate-aware, post-COVID-19 world, with an aging and tech-savvy population, the focus is now on the needs of connected micro-communities within livable cities." Data, including information from KONE elevators, can provide insights into people's movement in cities, and their changing behavior and needs. Kone"Modernizing an elevator, in an existing building, means we can reduce energy consumption by up to 70%, and a KONE elevator today is up to 90% more energy-efficient than its 1990s counterpart.
"We see Frontier's advanced market commitment as an important demand signal boost for the carbon removal market. Carbon dioxide emissions from energy production topped 36 billion tons last year, according to the International Energy Agency, with total global carbon dioxide emissions projected to have been 40.6 billion tons in 2022, according to the Global Carbon Project. So far, Frontier has spent $5.6 million buying nearly 9,000 tons of contracted carbon removal from 15 carbon dioxide removal startups that are collectively pursuing seven methods. And Living Carbon is a synthetic biology startup working on engineering natural systems to remove carbon dioxide. "However, the science is increasingly clear: Carbon removal is an increasingly necessary tool for limiting warming.
Zurich-based Xilva helps early-stage forestry projects access the capital they need to scale up. The startup has developed its own propriety vetting process to help build trust in the carbon market. A startup helping forestry projects access capital has just raised 1.8 million euros in fresh funds. The voluntary carbon market, where carbon credits are bought and sold, has been plagued by quality issues. Check out the 14-slide pitch deck Xilva used to raise the funds below:
Apple to invest another $200 million in carbon removal fund
  + stars: | 2023-04-11 | by ( ) www.reuters.com   time to read: +1 min
April 11 (Reuters) - Apple Inc (AAPL.O) said on Tuesday it doubled its financial commitment to a fund it had established two years ago to invest in projects that remove carbon from the atmosphere. The iPhone-maker said it will invest up to an additional $200 mln in its Restore Fund, which was created in 2021 with an initial $200 million commitment. The additional investment is expected to help the fund start new projects and carry forward its previously stated goal to remove about 1 million metric tons of carbon dioxide per year, the company said. Apple is making efforts to become carbon neutral through its entire supply chain and the life cycle of every product by 2030. The expanded fund will be managed by Climate Asset Management, a joint venture of HSBC Asset Management and Pollination, Apple added.
An aerial view of meltwater lakes formed at the Russell Glacier front, part of the Greenland ice sheet in Kangerlussuaq, Greenland, on August 16, 2022. New research published this week in the journal Geophysical Research Letters found that carbon emissions are halfway to a tipping point after which 6 feet of sea level rise from the melting of the Greenland Ice Sheet would be unstoppable. The further the Earth overshoots the first tipping point of 1,000 gigatons of carbon emissions, the faster the Greenland Ice Sheet will melt. If total emissions of carbon stay below the 1,000 gigatons of carbon emissions threshold, then the melting Greenland Ice Sheet would "only" contribute tens of centimeters to total sea level rise, he added. Avoiding carbon emissions is in any case much cheaper than the energy required to capture this carbon again," Höning told CNBC.
Experts share how ESG investors can understand and grow with emerging opportunities. Environmental and Social Governance (ESG) investing is adapting to consumer behavior. However, ESG investing has recently come under review for greenwashing or other hidden tradeoffs. Leaders in the field are working to better define and understand what ESG investing is and the good it can do for companies and beyond. During the session "Navigating ESG Investing Challenges" Rebecca Ungarino, senior finance reporter, spoke with Shah and Nikita Singhal, coHead of sustainable investment and ESG at Lazard Asset Management.
The voluntary carbon market has a problem with bad quality carbon credits. "Headline after headline is published exposing these offsets for poor quality," Michelle You, CEO and cofounder of carbon removal platform Supercritical told Insider. The London Stock Exchange has also done this for investors - instead of getting dividends, they get carbon credits. He expects bespoke funds will phase out when the quality of carbon credits is better assured. Frontier Fund has brought widespread attention to the carbon removal space and sends critical demand signals to early carbon removal companies, Supercritical's You said.
SVB's was a leading provider of venture capital to climate startups. And according to ImpactAlpha, SVB was a leading provider of venture debt to climate startups. The move has stoked fears that climate startups will face a tougher road than many of them already do. The fallout has led to a network of climate startups, venture-capital firms, and other lenders to mobilize their resources and help blunt the impact, Impact Alpha reported. Climate tech has been a bright spot in the broader tech downturn, with venture-capital and private-equity funds raising $64 billion in the fiscal year that ended in November — more than double the previous year's total, according to an analysis by Climate Tech VC.
Greenlyte Carbon Technologies wants to replace oil and gas with Co2 and hydrogen captured from the air. The direct air capture startup just raised a $3.5 million round co-led by N26 investor Earlybird. The team behind Greenlyte Carbon Technologies pass old coal towers every day on their way to the company's office in Essen, Germany's historical industrial center. Greenlyte Carbon Technologies' device can be turned on and off, meaning it will work well with intermittent renewables like solar and wind, he added. Greenlyte Carbon Technologies will use the cash to build out its team to 15 by summer and continue developing its tech.
[1/2] Patrick Pouyanne, the CEO of TotalEnergies, listens to a question from Daniel Yergin, the vice chairman of S&P Global, during the CERAWeek 2023 energy conference in Houston, Texas, U.S., March 8, 2023. REUTERS/Callaghan O'HareCompanies TotalEnergies SE FollowHOUSTON, March 8 (Reuters) - A protestor briefly interrupted an on-stage discussion with France's TotalEnergies (TTEF.PA) Chief Executive Patrick Pouyanne at an energy industry conference in Houston on Wednesday. The protestor unfurled a banner and shouted "stop your greenwashing and lies." She was ushered away before the on-stage discussion between Pouyanne and U.S. energy historian Daniel Yergin continued. The CERAWeek energy conference is the biggest annual gathering of oil executives and officials and takes place in Houston, the capital of the U.S. energy industry.
UK startup ViridiCO2 is helping chemical manufacturers cut fossil fuel use with captured carbon. A startup helping chemical manufacturers cut their use of fossil fuels has just raised £3 million (around $3.5 million) in seed funding from EQT Ventures. It is one piece of the carbon capture, storage, and utilization puzzle. ViridiCO2 doesn't capture carbon itself but works with point-source carbon capture companies to do so. "These are big chemical manufacturers and also consumer product manufacturers," Stewart added.
WASHINGTON, Feb 23 (Reuters) - More than 20 companies in the burgeoning carbon removal industry on Thursday launched a coalition that will lobby the U.S. government for new policies to help commercialize the nascent technology, which has received a flood of private investment in recent years. For years, technologies such as direct air capture, which extracts carbon emissions from the ambient air, had been seen as fringe ideas. Under those bills, the U.S. government has committed to spend more than $580 billion to support the development of carbon dioxide removal technologies through grants, technical support and tax credits for start-up companies and investors. The two main types of carbon dioxide removal involve chemical processes like direct air capture or enhance existing natural processes that remove carbon from the atmosphere such as planting trees. Giana Amador, founder of carbon removal NGO Carbon 180, will head up the CRA.
Emissions removal and management startups raised $4.2 billion last year, up from $3.6 billion in 2021. Carbon-related startups raked in $4.2 billion from venture capitalists globally last year across 204 deals, according to a new report from PitchBook. PitchBook's carbon tech categorization also includes fintech and analytics companies such as Coatue-backed carbon accounting firm Sweep. "We can't contain the climate crisis to an acceptable degree of global heating without actively addressing carbon capture and sequestration." While carbon tech is defying the wider venture-capital slowdown, which has seen valuations and deal counts plummet in the face of the war in Ukraine and fears of recession, the wider carbon and emissions tech category has remained flat.
VC firm Counteract has reached first close on its inaugural £35 million fund. It plans to back 40 global companies across all elements of carbon removal. London-based firm Counteract, founded in 2021, has just reached first close on its inaugural £35 million, about $41.9 million, fund. Direct air capture is one of the best-known carbon removal technologies thanks to Swiss company Climeworks. Isaacs stressed the importance of exploring all potential technologies as carbon removal evolves alongside policy, making it inherently risky.
Hydrogen is elemental to U.S.-EU green compromise
  + stars: | 2023-02-10 | by ( Rebecca Christie | ) www.reuters.com   time to read: +4 min
BRUSSELS, Feb 10 (Reuters Breakingviews) - Heated trade tensions could cool if the United States and the European Union make concessions on hydrogen. Right now, 99% of the near 100 million tonnes of annual commercial hydrogen output comes from old-fashioned fossil fuel energy sources. By 2030, the International Energy Agency envisages over 175 million tonnes of global production, with 35% coming from green hydrogen. Both Europe and the United States understand the role green hydrogen can play in decarbonising tricky areas like heavy industry and steelmaking. Yet Europe needs to import the same amount again as the 10 million tonnes it aims to produce domestically by 2030.
Therma helps restaurants like McDonald's reduce food and energy waste via fridge management. A startup helping restaurants like McDonalds and Starbucks save money on food and energy waste has just raised $19 million in a Series A round. San Francisco-based Therma, which was founded in 2019, uses IoT devices to turn "dumb" fridges and freezers into smart devices where temperature management can be automated. The company's tech can also monitor for any issues that could lead to food waste, which could be as simple as someone leaving the door open for an extended period. Meanwhile food waste is responsible for 10%, per WWF.
During a recent interview with the BBC, the billionaire said rich countries needed "to get their emissions down to zero as fast as they can." Bill Gates does not agree that using a private jet and campaigning on the issue of climate change represents a contradiction open to allegations of hypocrisy. It says it "uses a technology called 'direct air capture' to capture carbon dioxide directly from the air." Gates has previously spoken about using Climeworks to "pay for direct air capture." "So a new way of making cement or steel, you know, electric passenger cars, that's all in the rich countries."
China central bank to roll over lending tools to spur growth
  + stars: | 2023-01-29 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, Jan 29 (Reuters) - China's central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy. The central bank will also extend a relending tool for the transport and logistics sector to June 2023, it said. Some foreign financial institutions will be included in the scope of the carbon reduction tool, the central bank said. Outstanding loans made via structural tools amounted to nearly 6.45 trillion yuan ($950.98 billion) at the end of 2022, central bank data showed. The central bank is poised to ramp up targeted support for troubled sectors through its structural policy tools, according to policy sources and analysts.
Climate startup Living Carbon has developed trees that grow faster to ultimately store more CO2. Carbon removal typically sits in two buckets: engineered – or technological – removal and nature-based removal. Living Carbon, founded in 2019, reported its engineered trees grow 50% faster and soak up 27% more carbon than traditional trees. Living Carbon is also running its own carbon removal projects and is currently partnering with landowners in Pennsylvania and Georgia, who get a percentage of the carbon credits generated from the projects. Check out the redacted 18-slide pitch deck Living Carbon used to secure the funds below.
Fast fashion is big business, but it is also a big polluter, responsible for about 10% of global carbon emissions. Roughly 70% of the $3 trillion fashion industry is comprised of articles made from synthetics or petrochemicals. While some companies are claiming sustainable clothing lines, there is a very wide variance in what that means. For some the carbon reduction is in the manufacturing, while for others it is in the clothing itself. They're all made from 100% plant-based nutrients like recycled cotton, hemp, plant-based leather and coconut fiber, according to the company.
Climeworks got third-party sign-off on its technology for sucking carbon dioxide out of the sky. The sign-off marked a huge step forward in the nascent world of direct air capture, said Christoph Beuttler, Climeworks' head of climate policy. "We need a standard, because a ton of carbon dioxide removed by Climeworks is not the same as, for example, afforestation. Global carbon dioxide emissions rose to an estimated 40.5 billion metric tons in 2022, according to research by the Global Carbon Project. Climeworks uses fans that suck in air through filters to capture carbon dioxide, and works with CarbFix to permanently store the carbon underground in rock formations.
FRANKFURT, Jan 20 (Reuters) - Germany on Friday said it has drawn up new development plans for offshore wind turbine sites to reach a target for 30 gigawatts (GW) of installed wind power capacity by 2030. When the current government took power in late 2021, its coalition agreement stipulated 30 GW wind power, adding 10 GW to previous plans. Germany aims to derive 80% of its power from clean sources by 2030, compared with just under half in 2022. To speed up development of the offshore sites and override other uses, offshore wind has been declared to be of high public interest, and measures to create links to onshore electricity networks have been accelerated. Because offshore wind can be turned into clean hydrogen via electrolysis plants, plans for a North Sea-originating pipeline to carry 1 GW hydrogen were also integrated.
Shares of Norway-based Aker Carbon Capture could rise by 65%, according to analysts, as demand increases for emissions reduction technology. Aker Carbon Capture builds carbon capture and storage (CCS) plants in an effort to lower emissions from industrial cement and steelmaking plants. The company's latest innovation, revealed last week, would cut the energy needed to capture carbon and improve the company's profitability in the future, according to analysts at Berenberg. Berenberg analysts said Aker's stock could also move following an expected announcement from the U.K. to build carbon capture plants. Aker Carbon Capture's ADRs are also traded on the OTC markets in the U.S.
It the first time a company has successfully taken carbon dioxide out of the atmosphere, put it underground to be locked away permanently and delivered that permanent carbon removal to a paying customer. They have been scaling the technology for direct carbon removal, wherein machines vacuum greenhouse gasses out of the air. The cost of carbon dioxide removal and storage for these corporate clients is confidential and depends on what quantity of carbon dioxide the companies want to have removed and over what period of time. Climeworks' largest carbon dioxide removal facility is located in Iceland, where it partners with CarbFix, which stores the gas underground. CarbFix dissolves carbon dioxide in water then intermingles that mixture with basalt rock formations.
NEW YORK, Jan 11 (Reuters) - Anew Climate LLC, a TPG Inc-owned (TPG.O) provider of carbon emission reduction products to businesses, has agreed to invest as much as $640 million in carbon offset developer Terra Global Capital, the companies told Reuters on Wednesday. This demand gave Anew the confidence to make an investment of this scale, said Randy Lack, Anew's head of portfolio management. "We have been looking for a platform partner to do NBS (nature-based solutions) and Terra Global has a fantastic track record," Lack said in an interview. Lack said Anew would work "hand-in-glove" with Terra Global to ensure all projects meet tight criteria on environmental and social impacts. "The equity investment by Anew is catalytic to the growth of Terra Global," Leslie Durschinger, founder of Terra Global, said in an interview.
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