[✔️] March 13, 2023- Global Warming News Digest | Second Bank fails, Geothermal, Deluthe is climate destination, New Zealnad is not, VICE videos
Richard Pauli
Richard at CredoandScreed.com
Mon Mar 13 08:30:18 EDT 2023
/*March 13, 2023*/
/[ Oops, there goes another one ... climate startups hit ]/
*Second Bank Fails In Spreading Crisis; Feds Say Depositors At Both Will
Be “Made Whole”*
By Jill Goldsmith -- Co-Business Editor
March 12, 2023 4:30pm/
/New York State regulators took over Signature Bank today, the second
financial institution to fold in less than a week...
https://deadline.com/2023/03/second-bank-fails-spreading-crisis-signature-svb-depositors-will-be-made-whole-feds-say-1235292186//
/
/- -/
/[ Some could see it coming.... ]
/*Silicon Valley Bank Collapse Threatens Climate Start-Ups*
The bank had relationships with more than 1,500 companies working on
technologies aimed at curbing global warming.
By David Gelles
Gelles writes about business, climate change and public policy.
March 12, 2023
As the fallout of the collapse of Silicon Valley Bank continued to
spread over the weekend, it became clear that some of the worst
casualties were companies developing solutions for the climate crisis.
The bank, the largest to fail since 2008, worked with more than 1,550
technology firms that are creating solar, hydrogen and battery storage
projects. According to its website, the bank issued them billions in loans.
“Silicon Valley Bank was in many ways a climate bank,” said Kiran
Bhatraju, chief executive of Arcadia, the largest community solar
manager in the country. “When you have the majority of the market
banking through one institution, there’s going to be a lot of collateral
damage.”
Community solar projects appear to be especially hard hit. Silicon
Valley Bank said that it led or participated in 62 percent of financing
deals for community solar projects, which are smaller-scale solar
projects that often serve lower-income residential areas.
The devastation comes at a critical moment for a nascent industry that
is central to the effort to cut the greenhouse gases dangerously heating
the planet. The federal government depends on climate tech companies to
develop the innovations needed, and has promised billions in tax breaks
to help them grow and mature...
- -
Peter Reinhardt, the chief executive of Charm Industrial, a
five-year-old carbon removal company, said he pulled a few million
dollars in deposits from the bank last week.
“We got most of our cash out on Thursday,” said Mr. Reinhardt, whose
company uses plants to absorb carbon dioxide, then liquefies it and
stores it underground. “When it became clear that everyone was
withdrawing their money, the psychology requires you to run, too.”
Others were less fortunate. Ethan Cohen-Cole, chief executive of
Capture6, said his company had about $4 million of deposits in money
market accounts managed by Silicon Valley Bank. The company, based in
Berkeley, Calif., makes devices that remove carbon from the atmosphere.
Mr. Cohen-Cole said he expected to make monthly payroll for his 20 or so
employees, thanks to the $250,000 insurance provided by the Federal
Deposit Insurance Corporation.
But even as he expressed confidence that Capture6 would eventually
recover most of its money, Mr. Cohen-Cole worried that the prospect of
delays in accessing the rest of his company’s funds — or even the threat
of some unrecoverable losses — could complicate relationships with some
suppliers and partners.
“It’s fine to make payroll, but you also have to build something as
well,” he said. “If your money is tied up, that possibility could spook
partners. Being exposed to this leads to commercial risks.”
For many companies, it is this uncertainty about the ability to make
substantial investments in the next few months that is the greatest
concern...
- -
There are signs that, when the dust settles, the climate tech industry
will have a new lender of choice.
“I’ve already gotten calls from a number of banks who have said, ‘Can we
fill the space?’” Mr. Cohen-Cole said. “But the problem is that it’s not
going to happen in an hour.”
https://www.nytimes.com/2023/03/12/climate/silicon-valley-bank-climate.html
/[ pile-on predicament ]/
*Scientists warn of ‘phosphogeddon’ as critical fertiliser shortages loom*
Excessive use of phosphorus is depleting reserves vital to global food
production, while also adding to the climate crisis
Robin McKie, Science editor
Sun 12 Mar 2023 05.00 EDT
Our planet faces “phosphogeddon”, scientists have warned. They fear our
misuse of phosphorus could lead to deadly shortages of fertilisers that
would disrupt global food production.
At the same time, phosphate fertiliser washed from fields – together
with sewage inputs into rivers, lakes and seas – is giving rise to
widespread algal blooms and creating aquatic dead zones that threaten
fish stocks.
In addition, overuse of the element is increasing releases of methane
across the planet, adding to global heating and the climate crisis
caused by carbon emissions, researchers have warned...
- -
The element’s global importance lies in its use to help crop growth.
About 50m tonnes of phosphate fertiliser are sold around the world every
year, and these supplies play a crucial role in feeding the planet’s 8
billion inhabitants.
- -
These dangers were also highlighted last week with the publication in
the US of The Devil’s Element: Phosphorus and a World Out of Balance, by
the environment writer Dan Egan. The book has yet to be published in the
UK but it mirrors concerns recently raised by British scientists...
They say we have become profligate in the use of phosphates we put on
our fields. Fertiliser washed from them – and discharges of
phosphorus-rich effluent – have triggered large-scale contamination of
water and created harmful algal blooms. Some of the world’s biggest
bodies of freshwater are now afflicted, including Russia’s Lake Baikal,
Lake Victoria in Africa and North America’s Lake Erie. Blooms at Erie
have led to poisoning of local drinking water in recent years.
“Just as they do on land, phosphates help aquatic plants to grow,” said
Haygarth, who is the co-author of Phosphorus: Past and Future. “And that
is now having calamitous consequences in rivers, lakes and seas.”Choked
by blooms, many of these bodies of water have become dead zones, where
few creatures survive and which are expanding. One dead zone now forms
in the Gulf of Mexico every summer, for example.
Such crises also create other environmental problems. “Climate change
means we will get more algal blooms per unit of phosphate pollution
because of the warmer conditions,” ...
- -
“The problem is that when that algae dies, it can decay to produce
methane. So a rise in blooms will mean more methane will be pumped into
the atmosphere – and methane is 80 times more potent than carbon dioxide
at warming the atmosphere. It is a cause for real concern.”...
- -
“With phosphorus, we are also mining mineral reserves but in this case
we are turning them into fertiliser which is washed into rivers and seas
where they are triggering algal blooms. In both cases these grand
translocations are causing planetary havoc.”
https://www.theguardian.com/environment/2023/mar/12/scientists-warn-of-phosphogeddon-fertiliser-shortages-loom
/[ Nice summary of an important, clean energy source. 6 min video ]/
*Can Geothermal energy be the renewable game changer?*
Climate Club
Mar 12, 2023 #climatechange #energy #geothermal
-How does geothermal energy work? And why are we not all using it?
As renewables occupy an increasingly larger role in our energy mixes,
several issues such as intermittency and storage will rise. Geothermal
energy can solve many of these issues and could prove to be an important
source of electricity and heating.
Interesting video on energy price comparison:
Engineering with Rosie:
• AAre Renewables Actually the Cheaper Option?
https://www.youtube.com/watch?v=quI_8xYSWYE
Timeline:
00:00 Introduction
00:23 What is Geothermal Energy
00:38 How is it used?
01:09 How is it extracted?
02:22 Which countries use it?
03:05 Advantages
04:10 Issues
https://www.youtube.com/watch?v=GQ1FIDRUhII
- -
/[ "to Deluth" a destination, should be a verb ]/
*Duluth’s Wealthy ‘Climate Refugees’ Are Driving Up Real Estate Costs*
Plus a $3 million fib, RIP Eat Street Social, and the two local angles
to Mario's boots in today's Flyover.
March 10, 2023
Welcome back to The Flyover, your daily midday digest of what local
media outlets and Twitter-ers are gabbing about.
The Ups and Downs of Being a Climate Oasis
In Friday's New York Times article headlined "Out-of-Towners Head to
‘Climate-Proof Duluth,’" readers get a slow trickle of clues about John
Jenkins. There's the lead image of him smirking with a surf board.
There's the reveal that the 38-year-old "child of Orange County" brought
his extended family to Duluth a decade ago in pursuit of safety from
climate change. (He's not alone: 2,494 out-of-state folks moved there in
the past five years, many citing its "climate-proof" status.) There's
the fact he drives a 1970 VW bus and that his family owns two
restaurants selling $17 burgers and $13 vegan açaí bowls. But the
biggest tell, and the most perilous downside of monied transplants
flocking to Minnesota, comes when we discover what Jenkins did to his
adoptive city's housing stock: "In addition to his four-bedroom,
two-bath home, which he and [his wife Giselle] Hernandez bought in 2017
for $210,000, he also collects rent on eight rental properties,
comprising 18 housing units. He asks between $900 and $1,400 for a
two-bedroom apartment." Says Jenkins, with zero self-awareness: "We
tried to bring California with us here." Tubular!
https://racketmn.com/duluths-mn-wealthy-climate-refugees-are-driving-up-real-estate-costs
- -
/[ Why not just call it "Panic Town"? ]/
*Out-of-Towners Head to ‘Climate-Proof Duluth’*
The former industrial town in Minnesota is coming to terms with its
status as a refuge for people moving from across the country because of
climate change.
By Debra Kamin
Debra Kamin traveled to Duluth, Minn., encountering January temperatures
and icy roads, to report this story.
Updated March 12, 2023
DULUTH, Minn. — Surfing in Minnesota is just like surfing in Southern
California, John Jenkins says, as long as you ignore the icicles on your
wet suit.
Mr. Jenkins, 38, is a child of Orange County. But a decade ago, looking
to escape overpopulation and intensifying wildfires, he took a chance
and settled in Duluth, Minn., where temperatures can dip 30 degrees
below zero.
Hundreds of like-minded new residents have since joined him, coming from
California, Colorado and New Mexico and changing the face of this
erstwhile manufacturing town on the western edge of Lake Superior.
Dubbed “climate-proof Duluth” in 2019 by Jesse Keenan, a Tulane
University professor who was lecturing at Harvard at the time, Duluth
has been hailed for its ample supply of freshwater, as well as its
location — buffered from sea-level rise in the Upper Midwest — and
temperatures, which run mild in the summer and colder than cold in the
winter.
- -
“Real estate and climate change cannot be separated,” said Shawn McCoy,
a professor of real estate and economics at the University of Nevada,
Las Vegas. He studies what he refers to as “the tug of war between risks
and amenities” in the real estate market, and said that as knowledge of
climate change increases, its influence on where people settle is growing
https://www.nytimes.com/2023/03/10/realestate/duluth-minnesota-climate-change.html?smid=url-share
- -
/[Forget about this destination -- not highly considered in 26 min
video discussion ]/
*New Zealand - Safe Haven?*
Climate Emergency Forum
Mar 12, 2023
New Zealand, which is often touted as a ‘Safe Haven’ to escape a climate
change induced collapse, recently experienced its worst ever weather
disaster. Join Dr. Peter Carter, Paul Beckwith and Regina Valdez as they
discuss this event from a number of different perspectives.
This video was recorded on February 22nd as well as March 8th of 2023,
and published on March 12th, 2023.
Some of the topics discussed:
- How tech moguls have bought huge parcels of land with the
understanding that New Zealand is the safest place on the planet in
regards to climate change and how Cyclone Gabrielle has proven that to
be wrong.
- The eight billion dollar estimated cleanup.
- How a government minister said this is definitely climate change and
we've really have to do something about it.
- How the people had two weeks warning from the weather service
regarding this potential event.
- How protesters, comprising a minority of brave people going out there
to demonstrate on the streets, are being dealt with more harshly by the
courts.
- The severe impact on crops such as fruits and wine.
- The Nomenclature as pertaining to hurricanes: in North Atlantic or
North Pacific they’re referred to as Hurricanes whereas when they’re
closer to Asia they’re referred to as Typhoons and when they’re in the
Southern Hemisphere they become Tropical Cyclones.
https://www.youtube.com/watch?v=d2KYHmIP924
/[ "The agency of water is to support life" A classic in a series of 3
videos from VICE - YouTube 22 mins - must see ]/
*Water Crisis: A Global Problem That's Getting Worse | Planet A*
VICE News
539,991 views Nov 29, 2021 #VICENews #News #sponsored
In this episode of ‘Planet A’, Professor Deborah McGregor explains why
human systems like the commodification of water are at the root of the
current crisis, how climate change will intensify water scarcity and why
we need to change our relationship with water to avoid a bigger, looming
crisis.
In 'Planet A', VICE World News takes viewers on a global tour of the
ecosystems that sustain life on earth to expose the existential threats
that reach far beyond climate change.
Planet A is supported by @Zurich Insurance Group #sponsored
Watch more from this series:
*The Destruction of Nature Is as Dangerous as Climate Change *
https://www.youtube.com/watch?v=vHJd9GxEoX0
In 'Planet A', VICE World News takes viewers on a global tour of the
ecosystems that sustain life on earth to expose the existential
threats that reach far beyond climate change.
*
****We Can’t Beat the Climate Crisis Without Rethinking This*
https://www.youtube.com/watch?v=pyXjW-A60oc
In this episode of ‘Planet A’, Professor Pamela McElwee explains the
environmental impacts of our food production systems and how the
degradation of the earth can be directly traced to structures like
colonialism and racism, before explaining some of the possible
solutions that could get us out of this mess.
https://www.youtube.com/watch?v=gi3aZLA1tMw
/[The news archive - looking back how Bush gave up and caved in.]/
/*March 13, 2001*/
March 13, 2001: The Bush administration announces that it will not
regulate carbon dioxide emissions from power plants, abandoning a
campaign pledge under pressure from the fossil fuel industry.
http://www.heatisonline.org/contentserver/objecthandlers/index.cfm?id=3657&method=full
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