Climate Tech Highlights #13

Hello, there!

Once again, we are witnessing record global temperatures being recorded around the world.

In New Delhi, India, temperatures have remained above 40°C for at least 37 consecutive days. Japan has set numerous heat records in June and also experienced record rainfall for the second straight month, leading to disruptions in bullet train services. Extreme heat has tragically claimed over a thousand lives during the pilgrimage to Mecca this year.

Amidst so much saddening and discouraging news, I hope the following stories might offer a ray of hope.✨

Around the globe 🌎

• Human's best friend: Researchers have introduced a robotic dog equipped with an articulated arm designed to collect air samples in hazardous environments. This technology enables safer and faster analysis of volatile organic compounds (VOCs) in places like landfills and fire sites. Although further refinement is needed, future applications may extend to remote-controlled mobile devices like drones, enhancing effectiveness and versatility.

• Climate Venture Funding Update: According to data from NetZero Insights, May 2024 witnessed a surge in climate tech investments, totaling $6.6 billion across 419 deals globally. Year-to-date, the sector has secured $44.1 billion, marking a 37% increase from last year. The landscape reflects a shift towards non-dilutive funding and decreased equity financing, signaling adaptive responses to evolving market dynamics and investor sentiments.

• Accelerating energy transition: Google introduced this first-of-its-kind model, the “Clean Transition Tariff” (CTT), to bring new clean, firm power online, where it would otherwise be too expensive for a utility to add to its energy mix. In other words, the CTT lets corporate giants with deep pockets opt to pay a higher rate for much-needed clean, firm power without putting the burden on the everyday ratepayer.

A glance at Brazil 🇧🇷

• Sustainable Finance Leadership: Brazil recently launched its second issuance of international sustainable bonds, aiming to reinforce its commitment to sustainable policies and capitalizing on growing foreign investor interest. The demand for the bonds outstripped supply, with requests totaling $4.7 billion. Foreign investors showed substantial interest, comprising 77% of buyers from Europe and North America.

• Legislative Advances in Low-Carbon Hydrogen: The Brazilian Senate approved a bill establishing regulations for low-carbon hydrogen production in Brazil, including fiscal and financial incentives that could add R$ 18.3 billion over five years. The bill aims to stimulate the creation of a low-carbon hydrogen industry in Brazil, a renewable fuel crucial for global energy transition, especially in sectors with challenging decarbonization, like transportation and heavy industries.

Don't miss out! 👀

• Green Skills Gap: Despite Gen Z's heightened climate consciousness, a recent LinkedIn analysis revealed that only one in 20 workers possess the "green" skills necessary to tackle the climate crisis. These skills include measuring carbon emissions and constructing sustainable projects like solar, wind, and electric vehicles.

•  London Climate Action Week: London’s own climate week is being held June 22-30th with 200+ in-person and virtual events and 45,000+ attendees.

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