Tuesday, October 22nd - 2024

Author: Sam Rubinstein

Your weekly guide to Sustainable Investment


 

This week's featured TBLI event

TBLI Impact Networking (Mixer) October

Expand your professional network from the comfort of your phone or laptop.

Join the TBLI Virtual Impact Networking (Mixer) and connect with impact investors, entrepreneurs, and sustainability thought leaders worldwide through our immersive virtual platform.
Engage in timed 1-on-1 speed networking sessions, where you'll be matched with new individuals for each chat round.

Whether you're a seasoned expert or just starting your journey, the TBLI Impact Networking (Mixer) is the perfect platform to expand your network and gain valuable insights. Engage in lively discussions, share your experiences, and discover new opportunities to drive sustainable change.

Register now and be a part of the TBLI Impact Networking (Mixer) community.
 


 

TBLI Capital Connect

Are you looking to be connected to investors that have a strong investment focus in your sector?

Our Capital Connect service might be perfect for you. TBLI identifies investors within our network that have a history of investments in your sector, and handles all follow-up to arrange a meeting.

We've recently expanded the service, allowing companies and funds with varying budgets to make use of the service.

Arrange call to learn more

 

 
 

TBLI Radical Truth Podcast

Recalibrating Your Impact via Your Family Legacy

 

Multigenerational business and legacy families seek family engagement and alignment to maximise their legacy and impact.  Zita Nikoletta Verbényi, Founder & Legacy Aesthete, The Legacy Atelier™ shares her insights in achieving these goals. 

What will you learn?

  • Discover How to Enhance Your Family Engagement and Alignment via Your Family Legacy
  • Explore Why Your Family Legacy is Your Competitive Advantage, a Complexity Premium
  • How You Can Map, Understand, and Thrive via Your Intertwined Family Legacy Layers for Generations to Come

Listen to the podcast

‘I’m not voting for either’: fracking’s return stirs fury in Pennsylvania town whose water turned toxic

Large sand silos, which are used to store fracking sand, are seen at an oil drilling site operated by Coterra, in Dimock, Pennsylvania, in October.

By: Oliver Milman - The Guardian

The small town of Dimock saw its water become brown, undrinkable, even flammable – and its residents are still feeling the effects

Fracking has burst back on to the national stage in the US presidential election contest for the must-win swing state of Pennsylvania. But for one town in this state that saw its water become mud-brown, undrinkable and even flammable 15 years ago, the specter of fracking never went away.

Residents in Dimock, a rural town of around 1,200 people in north-east Pennsylvania, have been locked in a lengthy battle to remediate their water supply that was ruined in 2009 after the drilling of dozens of wells to access a hotspot called the “Saudi Arabia of gas” found deep underneath their homes.

The company behind the drilling, Texas-based Coterra, was barred from the area for years for its role in poisoning the private water wells Dimock relies upon and, in a landmark later move in 2020, was charged with multiple crimes. But it has now been ushered back into the area following a deal struck by the state’s Democratic leadership.

The re-starting of drilling around Dimock late last year comes as Donald Trump and Kamala Harris clamor to cast themselves to Pennsylvania voters as supporters of fracking, or hydraulic fracturing, whereby water, sand and chemicals are injected deep underground to extract embedded oil and gas.

“If she won the election, fracking in Pennsylvania will end on day one,” Trump said of Harris, who previously supported a ban, during the duo’s televised debate last month. The former US president has run a barrage of ads in the state accusing Harris of wanting to shut down the fracking industry. But during the same debate, Harris insisted “I will not ban fracking”, with the vice-president boasting of new fracking leases granted during Joe Biden’s administration.

This bipartisan embrace of fracking has stirred fury among residents of Dimock whose well water is still riddled by toxins linked to an array of health problems and, most spectacularly, contains so much flammable methane that people have passed out in the shower, wells exploded, and water running from the tap could be set on fire by match, according to official reports and accounts from locals.

“Sure as hell, I’m not voting for either of those two assholes,” said Ray Kemble, a bearded military veteran and former trucker, as he puffed on a cigar in his home. Reams of documents and photos chronicling the long fight against fracking lay on the table next to Kemble, along with a bottle of his murky tap water, three Sherlock Holmes-style smoking pipes and a briefcase filled with handguns.

Shortly after a gas well was drilled a few hundred feet from Kemble’s home, he said his drinking water turned from dark brown to green and finally jet back, with the liquid smelling like he had taken “every household chemical you can think of, dump it into a blender, take two asses of a skunk and put that in there, put it on puree, dump it out, and take a whiff”.

“The water is still not fixed,” said Kemble, who blames the loss of most of his teeth to the presence of uranium, along with other contaminants such as copper and arsenic, in his water.

“When a politicians’ lips are moving they are lying,” he said. “It’s a fricking nightmare. We are back to square one from before the moratorium came into effect – there’s massive drilling like crazy. I don’t care who you are, rich, poor, or whatever, without water and clean air and clean soil, we’re all freaking dead.”

Kemble, a Republican who has printed cards featuring the Gadsen flag snake coiled around a gas well, has found unlikely allies in this saga, with figures such as Yoko Ono and Mark Ruffalo voicing concern for Dimock’s plight. His neighbor Victoria Switzer, a former school teacher turned artist whose paintings adorn a soaring timber-framed home beside a bucolic creek, is a rare liberal in this staunchly conservative county but also shares Kemble’s frustration.

Read full article 

 

Point Source Capture: Is it a Silver Bullet for Industrial Emitters?


 
By: Buff López - CleanTech Group

$2.3T needed from now to 2050 — delayed deployment could cost double, even triple

Point Source Capture (PSC) technologies capture at the point of emission from industrial sources. These hard-to-abate sectors include natural gas, blue hydrogen, power generation, refineries, cement, iron and steel, chemicals, steam methane reforming, fermentation, and syngas producers. In 2022, these emitters produced 36 GtCOor 68% of total emissions.

PSC annual investments ranging from $60B-$140B totaling approximately $2.3T are needed through 2050 to meet net-zero goals outlined by the Paris Agreement (Energy Transition Commission). Generous estimates suggest that PSC can deliver a vital 2.5-4 GtCO2/year, under half of the 7-10 GtCO2/year needed to meet 2050 goals. The rest of the emissions will largely be captured via Direct Air Capture (DAC). The 2024 annual capacity is approximately 50 MtCO2/year, up from 40 MtCO2/year in 2023. Capacity will need to make an astronomical leap by 50x-90x per year.

Sector decarbonization wherein CO2 is permanently removed from the atmosphere can be achieved via sequestration in geologic formations, rocks, or construction aggregates (the latter is typically a 60+ year lifetime). PSC can also improve overall carbon efficiency via short-term storage; however, this will not result in net carbon removal. This occurs when CO2 is utilized in fuels and chemicals like sustainable aviation fuel or plastics that will result in CO2 being reintroduced into the atmosphere or environment.

A Suite of Technologies

Various technologies have been developed for PSC that include capture via solvents, solid adsorbents, membranes, and cryogenic systems. Most begin to see cost-effectiveness at scales above 0.3-0.6 MtCO2/year.

Solvents are the most technically mature and will likely win the biggest market share for large-scale capture. Non-amine solvents claim a 20-30% reduction in OPEX and CAPEX. Solid Adsorbents are a high surface-area solid material, e.g., Metal Organic Frameworks (MOFs) with a selective affinity for CO2 in a gas stream. Membranes have a high affinity for CO2 and are generally cost effective at smaller scales and can be combined with MOFS, solvents, and more. Cryogenic systems are also emerging as a means to storing CO2 as a liquid that requires energy consumption approximately proportional to the amount of gas processed. Further processing may be performed before CO2 is utilized, transported, or stored.

Innovator Callout

  • Carbon Clean developed solvents that can reduce the cost of CO2 capture from large-scale polluters by 50%. Its tech can also be used in existing gas treatment plants in the natural gas industry to reduce operating costs by ~30%.
     
  • Svante, a multi-year winner of the Global Cleantech 100, uses MOFs via its VeloxoTherm™ process with rapid cycle-temperature swing adsorption.
     
  • Ardent (fka Compact Membrane Systems) uses composite facilitate transport membranes to selectively capture greenhouse gases with high flux rates and low pressure.

Business Models and Market Dynamics

A lack of standardization and regulation around pricing necessitates government support such as the establishment of a carbon pricing system. For example, the U.S. and Europe are leading project development and have committed over $20B in capital grants and loans, meanwhile establishing carbon contracts-for-difference and procurement programs for high-value products like fuels.

Just last week, the U.S. Environmental Protection Agency ruled to enforce natural gas power plants cut or capture 90% of climate emissions by 2032. This rule sets a historic precedent that will force evolving carbon markets to be cost competitive for power generation players or risk cutting off power supply or raising costs for its customers to comply with new plant rules.

Read full article 

Ukraine Rewilding: Will Nature Be Allowed to Thrive When War Ends?

By Fred Pearce

Amid the war’s destruction, Ukrainian scientists are seeing signs of an ecological recovery. When the conflict ends, they say, the nation should not rebuild its massive Soviet-era infrastructure and instead continue the rewilding by letting nature keep restoring itself.

It was a monumental disaster. The dynamiting of the Kakhovka dam on Ukraine’s Dnieper River just before dawn on June 6 last year rapidly emptied Europe’s largest hydroelectric reservoir. Some 14 million acre-feet of water hurtled downstream for more than 100 miles to the sea. Around 80 villages were flooded, more than 100 people died, and more than 40 nature reserves were engulfed. In the Black Sea, the flood delivered a flush of industrial toxins, land mines, agricultural chemicals, sediment, and freshwater that killed fish and unleashed swarms of algae along the coast.

Ukraine’s president, Volodymyr Zelensky, called it the “largest man-made environmental disaster in Europe in decades” — since the meltdown at the country’s Chernobyl nuclear plant in 1986. Within days, his government pledged to rebuild the dam.

But now the ecological consequences of this war crime — widely presumed to be perpetrated by the dam’s Russian occupiers — are being seen in a different light. The bed of the former reservoir is rapidly rewilding, with extensive thickets of native willow trees growing. The country’s ecologists are calling for plans for a new dam to be dropped, in favor of nurturing the ecological renewal. And they argue that some of Ukraine’s short-term wartime environmental catastrophes — on rivers, in forests, and across the country’s precious steppe grasslands — can be turned into long-term ecological gains.

“War-wilding” can benefit a country still chained to Soviet-era infrastructure, they say. After the war ends — which Zelensky said during a visit to the U.S. in September could be “closer… than we think” — Ukraine could secure its inadvertent ecological gains and ensure that reconstruction puts the environment at its heart.

There is no doubt that the breaching of the Kakhovka dam 16 months ago was a catastrophe for people living downstream. Many ecosystems were badly damaged. The question now is whether and how nature will recover. At least in the 155-mile lengths of the drained reservoir, the prognosis is remarkably positive.

Ecologists initially warned that the sediments exposed on the reservoir’s bed would either turn to desert and unleash dust storms laced with toxic detritus, or else be invaded by alien species. Neither has happened, according to Anna Kuzemko, a botanist at the M.G. Kholodny Institute of Botany in Kyiv, who has made three field trips to the reservoir bed, during one of which she was shelled by Russian mortars. The river has resumed its flow down old channels. Sturgeon have made it upstream to old spawning grounds near the dam. Nourished by rich sediment, native willows have grown across the reservoir floor, with reed beds fringing water courses.

Read full article

U.S.-China clean energy summit overshadowed by growing trade tensions

By Andrew Barber - Equities.com

Policy leaders, advocates and academics gathered in California over the weekend for the 16th annual U.S.-China Green Energy Summit, with former Secretary of State John Kerry, former Energy Secretary Steven Chu and China’s former Minister of Science and Technology Wan Gang speaking. 

While the summit at Stanford University was designed to foster cooperation on climate policy between the world’s two largest economies, recent political events underscore growing tensions. 

Secretary of the Treasury Janet Yellen emphasized the threat to U.S. businesses presented by unfair Chinese trade practices in a speech in Washington on Thursday.  

“China’s policies are also leading to industrial overcapacity in critical industries, threatening the viability of American and other firms and increasing the risk of overconcentrated supply chains that undermine global economic resilience,” Yellen said at a discussion hosted by the Council on Foreign Relations. 

Yellen’s warning followed a strongly worded speech last week in Portugal by Jose Fernandez, undersecretary for economic growth, energy and the environment at the State Department. Fernandez labeled Chinese lithium producers flooding global markets at uneconomical prices as “predatory.”

Fernandez stated that the move by Chinese state-owned firms to undercut global lithium markets was designed specifically to undermine the $400 billion Inflation Reduction Act, the largest climate and energy program in U.S. history. 

China’s state investments into renewable technologies dwarfs U.S. efforts, with an estimated $890 billion flowing into the sector last year. A January 2024 report by Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air, estimated that the clean energy segment alone accounted for almost 40% of the nation’s growth in 2023.

Critically, China’s manufacturing of electric vehicles (EV) accounts for over 65% of global production while producing nearly 80% of all EV batteries. 

While the Biden administration has continued to step up pressure on Chinese officials over trade practices deemed unfair, the policies supported by former President Donald Trump are even more draconian. Trump, the Republican presidential candidate, has proposed tariffs on Chinese imports as high as 60%. 

While the trade tensions simmer, China’s mammoth investment in clean technologies continue, providing investment opportunities for U.S. investors. 

Read full article 

 

Idaho is coming around on clean tech, approves first-ever solar farm on state land

Idaho is coming around on clean tech, approves first-ever solar farm on state land
 
By:  - Renewable Energy World

For the first time, the Idaho State Board of Land Commissioners has voted to approve a lease for a solar farm on state-owned property.

At last Tuesday’s meeting in Boise, the board voted 3-1 in favor of leasing more than 11,000 acres of state endowment land to a PacifiCorp wind and solar project in southeast Idaho, near Idaho Falls in Bingham County. Dubbed Arco Wind and Solar, the clean energy farm will be mostly constructed on private land, particularly the wind portion. The entire project spans more than 32,000 acres in Bingham and Fremont counties.

NorthRenew Energy sold Arco Wind and Solar to PacifiCorp in February. Once finished, it will have more than 300 megawatts of combined wind, solar, and storage nameplate capacity. PacifiCorp is targeting late 2026 for commercial operations; construction on the land being used for solar is already underway.

The state’s land board expects to rake in between $1.5 million and $2 million annually in rent from the project, which could increase the state’s leasing portfolio by 25% by itself. The land previously generated about $.59 per acre via grazing leases- a figure blown out of the water by the estimated $200-$300 per acre the approved lease will generate. Idaho’s endowment trust funds (there are nine of them) support the state’s public school systems, multiple universities, state veterans homes, and more.

That’s a sweet deal for a state where many leaders have been skeptical of renewable energy projects, including Attorney General Raul Labrador, who voted against it. This summer, numerous Idaho legislators vowed to continue to fight against the Lava Ridge Wind project, which would be the largest wind generation facility in the state – calling the latest plans for the site “a slap in the face of Idahoans” that will ultimately benefit California rather than Idaho.

In spite of any preconceived notions, Tuesday’s meeting materials highlighted support for the Arco Wind and Solar project from neighboring landowners, who have been involved with this project since its inception.

“The project site, both on private and public lands, while sufficient for grazing, has limited broader agricultural value due to the desert climate and limited water resources in the area,” Bruce Wilding wrote. “The combination makes this an excellent location for renewable energy development.”

More than 70% of farmers are open to large-scale solar projects on their properties if system designs allow for continued agricultural production, according to a recent report by the Solar and Storage Industries Institute (SI2). Nearly half of solar developers surveyed believe that solar on farmland will make up a majority of their future business opportunities.

Solar progress in the Gem State

Although wind energy contributes approximately 17% of Idaho’s electricity, the Gem State and solar development have not exactly gone hand-in-hand in recent years. That said, the state’s renewable energy capacity is about to increase immensely, thanks in large part to new solar installations coming online.

A couple of big projects fired up in 2016, marking Idaho’s first dabbling into utility-scale solar: The 108 MW Grand View Solar Two (Clenera) in Grand View and the 54.6 MW ID Solar (Origis Energy) in Kuna. Utility-scale solar power generation accounted for 0.2% of the state’s mix that year.

In 2017, Idaho added the 40 MW American Falls Solar in the aptly named Power County and four more 40 MW projects in Elmore and Ada Counties.

However, any whiff of momentum died there and large-scale solar growth was stagnant in Idaho from 2018 through 2022, as indicated by the sad-looking middle of the Solar Energy Industries Association in the bar graph below.

Read full article 

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