Current Events Newsletter📰#2
Second installment of the Tech4Earth current news and insights across green tech and environmental news
General Industry News 📝
It’s double trouble this week, so strap in…
By far the biggest topic on everyones lips these last few weeks in the world of tech and climate has been Climate Week NYC and TOKEN 2049 Singapore.
Here’s a double header round up of everything that went down at both conferences
TOKEN 2049 SGP 🏙️
Sovereign Nature officially launched the DOTphin Orbo—the first step in your eco-evolving avatar journey with over 1,200 PoPs claimed. DOTphin is a collectible digital companion in the Polkadot ecosystem that evolves through five stages based on real-world ecological data from marine conservation efforts. Developed by Sovereign Nature Initiative, Unique Network, and WalletConnect, it merges playful engagement with sustainability, rewarding users for their participation in tech events and supporting marine biodiversity, such as using AI to interpret humpback whale songs.
Additionally, discussions on tokenizing Real-World Assets (RWAs) took center stage, showcasing how blockchain can bring new investment opportunities. This trend emphasized the potential for bridging traditional finance with decentralized systems, particularly in improving transparency and efficiency in sustainability-focused investments(Gravity).
Moreover, the event highlighted decentralized physical infrastructure networks (DePIN), a rising trend that facilitates shared ownership of physical assets such as data centers, or tranport which can significantly contribute to reducing resource usage and promoting more sustainable energy practices(21Shares - Crypto Made Easy).
Climate Week NYC 🗽
Climate Week NYC 2024 saw a range of exciting developments in climate tech, with key innovations presented across sectors. Here's a roundup of the most notable climate tech updates:
Energy Storage and Grid Solutions: One of the main topics discussed was the role of distributed energy storage in modernizing power grids. Solutions like bi-directional charging for electric vehicles (EVs) were highlighted as a means to smooth peak energy demand by allowing private EV owners to sell power back to the grid. This innovative approach can reduce pressure on infrastructure and improve grid resilience(Foley & Lardner LLP).
Offshore Wind: The future of offshore wind energy remained a hot topic despite challenges such as supply chain disruptions and local opposition. Discussions focused on strategies to overcome these barriers, including potential long-term impacts of interest rate reductions on investment in the sector(Foley & Lardner LLP).
AI for Climate: Artificial Intelligence (AI) continues to revolutionize climate tech, with new applications discussed during Climate Week. AI-powered solutions are now being used to enhance energy efficiency, manage resources more effectively, and optimize logistics in ways that could reduce emissions across multiple industries(C40 Cities).
Renewable Energy and Nature-Based Solutions: Leaders at the event focused on scaling renewable energy generation and accelerating nature-based solutions to combat climate change. This included innovative approaches to financing and deploying projects that restore ecosystems while also generating clean energy(
Carbon Capture and Storage (CCS): CCS technology received renewed attention during the week, as participants discussed its potential to drastically reduce industrial emissions. Several panels explored how advances in CCS could complement renewable energy and decarbonize sectors that are otherwise hard to abate, such as heavy industry and cement production (Foley & Lardner LLP).
Notable raises👀🚀
(Curtesy of Deal room)
Developing a new industrial standard of clean, safe and inexhaustible energy production from Nuclei
Paris, France
€135m SERIES A
Sep 2024
Contributes to a more sustainable and resilient future by creating foods and materials from the untapped potential of fungi
Oslo, Norway
$6—9m
N/A EARLY VC
Sep 2024
Offering a way to electrify fleets across transport sectors from commercial vehicles, heavy vehicles, boats and beyond
Maldon, United Kingdom
$5—8m
£1.0m EARLY VC
Sep 2024
Decarbonize ocean shipping with zero-emission, whale-inspired propulsion systems
Brest, France
$18—26m
€4.0m SEED
Sep 2024
Develops technology to collect, manage, and report environmental, social, and governance (ESG) data in compliance with the world's leading impact standards
Berlin, Germany
$54—81m
€12.2m SERIES A
Sep 2024
Leveraging AI to scale sustainable finance reporting
Berlin, Germany
$17—25m
€3.9m SEED
Sep 2024
Political insights 🏛️
During Climate Week 2024, several political insights emerged, focusing on tangible action to accelerate climate progress:
Ending Fossil Fuel Subsidies: Political leaders, particularly from city coalitions like C40 Cities, emphasized the need for governments to end fossil fuel subsidies and redirect funds toward local, equitable climate solutions. This aligns with broader efforts to decarbonize energy systems and transition to renewable energy, with a call for public-private collaboration to facilitate this shift (C40 Cities)(POLITICO).
Climate Finance for Developing Nations: A key discussion point was the urgent need to bridge the climate finance gap. Developing nations pressed for a significant increase in climate aid, highlighting the need for trillions of dollars over the coming decade. This is critical for adaptation and mitigation efforts, particularly as many countries struggle to meet their climate commitments due to a lack of financial resources (POLITICO).
Coalition for High Ambition Multi-level Partnerships (CHAMP): On the sidelines of Climate Week, the UK joined the CHAMP initiative, which seeks to enhance collaboration between national and local governments. This is aimed at strengthening bold climate action, with a particular focus on fostering climate resilience and sustainable urban development (C40 Cities).
Renewed Commitments to Net-Zero: Discussions also revolved around solidifying net-zero targets and scaling nature-based solutions. Leaders emphasized the importance of ramping up renewable energy projects and investing in critical infrastructure to achieve these goals. Commitments from businesses and political leaders were seen as essential to driving action on the ground (Climate Champions).
Start-up spotlight 🔦
CreditNature - A platform to quantify and monetize natural capital
$2.2m SEED
Company Focus:
Natural Capital Valuation: CreditNature helps businesses and landowners assess, manage, and monetize the value of natural ecosystems, such as carbon storage, water filtration, and biodiversity.
Market Integration: The platform creates opportunities for clients to generate nature-based credits that can be integrated into carbon markets and other sustainability initiatives.
Core Offerings:
AI-Driven Ecosystem Assessment: Utilizes AI and satellite data to provide accurate measurements of natural capital, including biodiversity and ecosystem services.
Monetization Pathways: Helps businesses turn environmental assets into tradable credits, fostering investment in nature-positive projects.
Key Benefits:
Transparency and Accountability: Provides clear, data-driven insights to quantify environmental impact and facilitate compliance with sustainability standards.
Biodiversity Monetization: Opens up new revenue streams for businesses through biodiversity credits, aligning financial incentives with conservation efforts.