Updates Eutopia spotted in the climate innovation ecosystem last week (16.11.2021 - 23.11.2021)
🧬 Sofinnova Partners, a European life sciences venture capital firm, announced it raised €150M for its early-stage environmental impact fund that will invest in companies leveraging biotechnology to develop sustainable solutions. This brings the firm’s total assets under management to €2.5 billion across its platform of investment strategies.
💰Energy Impact Partners (EIP), an investment firm focused on sustainable energy startups, recently announced they closed of its latest flagship fund at more than $1B that aims to advance the global push toward a zero-carbon economy. Among others, Southern Company, Microsoft, Duke Energy, and Xcel Energy contributed to the fund.
🌐 The IPCC launched an interactive atlas, a novel tool for flexible spatial and temporal analyses of much of the observed and projected climate change information underpinning the Working Group I contribution to the Sixth Assessment Report, including regional synthesis for Climatic Impact-Drivers (CIDs).
🌲 After a year in stealth mode, AirForestry, a company thinning trees from the air with electric drones, has finally been launched. AirForestry enables better biodiversity and healthier forests and can save 150 000 tons of CO2 in Sweden just from changing from diesel, and can increase Swedish forests’ carbon dioxide uptake by one million tonnes CO2 per year.
🛠️ In a huge shift, Apple plans to start selling parts and tools and offering DIY instructions on how to repair iPhones and Macs at home. Consumers will be able to replace the iPhone’s display, battery, and camera, with other options coming later.
🙎🏻♀️ Alexandra Fotos looked into carbon credits and the current state of the climate-smart ecosystem, delving into what makes it a great business opportunity, how to make money selling credits, and how carbon markets are booming.
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💨 A new paper published in the peer-reviewed engineering journal Applied Energy compared the emissions and financial cost of producing hydrogen using fossil fuels or renewable energy and found that green hydrogen beats blue on emissions and financial cost.
🙍♂️ Halting deforestation, preventing large-scale forest fires, and encouraging sustainable forest management practices could help keep global warming under 2°C while restoring 33 percent of the world's land that is moderately or highly degraded. But offsetting emissions through reforestation and afforestation is far from a simple fix. Reports have uncovered how industrial tree planting techniques are regularly conflated with beneficial natural forest restoration.
🏭 The COP26 conference of global leaders ended with a sputter, not a bang, as politicians agreed to a watered-down commitment to ‘phase down’, rather than ‘phase out’ use of coal and other fossil fuels. While tech leaders working in the climate change sector have reacted with disappointment, they’re not necessarily surprised. Read this article to know more!
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