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- 🌱 Carbon Conundrum
🌱 Carbon Conundrum
[4-minute read]
Happy Tuesday. In a potential federal first, America’s EPA makes a bold move to shake up the power sector with a new carbon capture mandate.
In today’s edition:
⚡️ EPA imposes potential first federal mandate to cut CO2 from power plants
🚜 2 scientists call out UN report on animal ag
🌳 EU treaty aims to ensure more than 1% of high seas is protected
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🔋 Energy (1-Min Read)
EPA makes bold move in the power sector
What happened: The Environmental Protection Agency (EPA) just imposed what may become the first federal mandate to cut carbon dioxide from power plants — if it survives legal and political hurdles that have tripped up past administrations.
The details: Under the CO2 rule, some plants must capture carbon emissions to comply — using technology that has made little progress in the power sector. For instance, coal plants slated to keep running beyond 2039 have CO2 capture requirements that begin in 2032. The rule no longer covers existing gas-fired plants — the biggest U.S. power source. They're slated to be addressed in a subsequent rule, but this would likely require President Biden to win reelection.
Yes but: An Obama-era power plant CO2 rule — one very different from Biden's current plan — and a more modest Trump-era plan were both halted in court before they could take effect.
Why it matters: Electricity is among the largest sources of U.S. carbon emissions. The country's power mix has trended away from coal for years as gas and renewables gained market share. EPA estimates the rule, alongside the 2022 climate law, will cut power plant emissions by 75% relative to 2005 levels by 2035. (Full story here)
🔋 Energy Deals:
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- Green Energy Park, a Sao Paulo, Brazil-based hydrogen production plant company, raised USD30M in an initial equity funding.
- Chemix, a Sunnyvale, CA-based EV-battery developer, raised $20M in Series A funding.
- Berlin-based battery storage startup Terra One has raised $7.5M in seed funding for its decentralised battery storage platform
- Texture raises $7.5M to act as a data provider for energy grids
🚜 AgriTech (1-Min Read)
UN Report on livestock emissions faces beefy backlash
What happened: 2 experts cited in a UN report on livestock emissions call for its retraction, alleging distortions of their work.
Details: The UN Food and Agriculture Organisation (FAO) is accused of misusing Paul Behrens's and Matthew Hayek's research. In a letter, they claim that the FAO study contains systemic errors, poor framing, and inappropriate data use.
Controversy: The academics claim that the FAO’s report reduces the estimate of livestock’s contribution to overall global heating, using research from Behrens in 2017 to argue shifts away from meat-eating could only reduce agri-food emissions by 2%-5%.
Academic Pushback: For a recent paper, over 200 climate scientists said it was important for livestock herd sizes to peak by 2025 to prevent dangerous global heating. The scientists also say the FAO report underestimates the emissions-cutting potential of dietary shifts.
FAO Defence: The FAO has defended its report, stating it underwent rigorous review processes and promises to address concerns raised by the academics. (Full story here).
🚜 Agritech Deals:
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- Pula raises $20M to provide agricultural insurance to farmers in Africa, Asia and Latin America.
- Meridia raise of €5.2M helps companies pinpoint and rectify erroneous, fraudulent, and non-compliant agri data in real time.
- Edonia, a French startup unlocking the potential of microalgae to create protein ingredients for plant-based foods, has raised €2 million
🐘 Nature (1-Min Read)
The good and the bad of EU’s week in Nature Policy
The Good
The European Union voted in favour of ratifying the High Seas Treaty. The treaty aims to protect marine life in areas that are outside of countries’ maritime borders - only 1% of the high seas is currently protected. For the High Seas Treaty to come into force, at least 60 countries must sign and ratify it. So far, four have formally ratified it: Palau, Chile, Belize and Seychelles. The EU’s 27 member states will have a significant impact on progress towards the treaty coming into force. (Full story here)
The Bad
The European Parliament approved a proposal to remove requirements in the EU’s common agricultural policy for farms to protect soils, leave a small percentage of land to nature and rotate their crops. The plan also exempts nearly 17 million hectares of farmland – the size of Germany’s total agricultural land – from environmental controls. This is a significant blow to sustainable farming in the bloc. (Full story here)
🐘 Nature Deals:
Got deals we should know about? Drop us a note!
- Nature-based asset reporting company Treefera today announced a $12m Series A raise
💭 Little Bytes (1-Min Read)
💬 Quote: “World is currently experiencing a global coral bleaching event.” — US National Oceanic and Atmospheric Administration (NOAA)
📊 Stat: Nature loss could slow UK growth 12% by the 2030s — Green Finance Institute (GFI)
📺️ Watch: An app that lets farmers make digital twins of plants with their phones
🛗 Snippets for your lift conversations (1-Min Read)
The U.S. Energy Department unveiled measures aimed at making it easier for clean energy projects to connect to the grid - a key bottleneck in energy transition policy currently.The Department will upgrade 100,000 miles of transmission lines over the next five years and will make pemitting of new transmission lines more efficient.
The Biden administration also announced a new goal of protecting, restoring and reconnecting 8 million acres (3.2 million hectares) of threatened wetlands and 100,000 miles (161,000 km) of rivers and streams, according to White House documents.
Several thousand Indigenous demonstrators marched to the seat of power in Brazil's capital to protest against the government's failure to protect their ancestral lands.
A new tax on fossil fuel companies based in the world’s richest countries could raise hundreds of billions of dollars to help the most vulnerable nations cope with the climate crisis.
Major polluters in Australia may be spewing more than double the methane estimated in its national inventory data, according to a report from the Melbourne-based nonprofit.
G7 countries are set to agree a global target this weekend to increase electricity storage capacity sixfold from 2022 to 2030, as countries grapple with how to keep the lights on while shifting to intermittent wind and solar power.
🎣 Gone Phishing (1-Minute Read)
Three of these stories are true, one we've made up. Guess which:
Volcano in Antarctica spews crystals of gold worth $6,000 a day
Stowaway cat accidentally mailed to California
Emotional support alligator 'Wally' missing after vacation
Rare blue lobster found in maine lobster trap
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