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<p> <font size="+2" face="Calibri"><i><b>March 13, 2023</b></i></font></p>
<font face="Calibri"><i>[ Oops, there goes another one ... climate
startups hit ]</i></font><br>
<font face="Calibri"><b>Second Bank Fails In Spreading Crisis; Feds
Say Depositors At Both Will Be “Made Whole”</b><br>
By Jill Goldsmith -- Co-Business Editor<br>
March 12, 2023 4:30pm<i><br>
</i></font><font face="Calibri">New York State regulators took
over Signature Bank today, the second financial institution to
fold in less than a week...<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext" href="https://deadline.com/2023/03/second-bank-fails-spreading-crisis-signature-svb-depositors-will-be-made-whole-feds-say-1235292186/">https://deadline.com/2023/03/second-bank-fails-spreading-crisis-signature-svb-depositors-will-be-made-whole-feds-say-1235292186/</a><i><br>
</i></font>
<p><font face="Calibri"><i>- -</i></font></p>
<font face="Calibri"><i>[ Some could see it coming.... ]<br>
</i></font><font face="Calibri"><b>Silicon Valley Bank Collapse
Threatens Climate Start-Ups</b></font><br>
<font face="Calibri"> The bank had relationships with more than
1,500 companies working on technologies aimed at curbing global
warming.</font><br>
<font face="Calibri"> </font><font face="Calibri">By David Gelles</font><br>
<font face="Calibri"> Gelles writes about business, climate change
and public policy.</font><br>
<font face="Calibri"> March 12, 2023</font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> “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.”</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri">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...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> “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.”</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> 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.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> “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.”</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> For many companies, it is this uncertainty
about the ability to make substantial investments in the next few
months that is the greatest concern...</font><br>
<font face="Calibri"> </font>- -<br>
<font face="Calibri">There are signs that, when the dust settles,
the climate tech industry will have a new lender of choice.</font><br>
<font face="Calibri"> </font><br>
<font face="Calibri"> “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.”</font><br>
<font face="Calibri"> </font><font face="Calibri"><a
class="moz-txt-link-freetext"
href="https://www.nytimes.com/2023/03/12/climate/silicon-valley-bank-climate.html">https://www.nytimes.com/2023/03/12/climate/silicon-valley-bank-climate.html</a></font>
<p><font face="Calibri"><br>
</font></p>
<p><font face="Calibri"><br>
</font></p>
<font face="Calibri"><i>[ pile-on predicament ]</i><br>
</font><font face="Calibri"><b>Scientists warn of ‘phosphogeddon’ as
critical fertiliser shortages loom</b><br>
Excessive use of phosphorus is depleting reserves vital to global
food production, while also adding to the climate crisis<br>
</font><font face="Calibri">Robin McKie, Science editor<br>
Sun 12 Mar 2023 05.00 EDT<br>
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.<br>
<br>
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.<br>
<br>
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...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri">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.<br>
</font><font face="Calibri">- -</font><br>
<font face="Calibri">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...</font><br>
<font face="Calibri">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.<br>
</font><br>
<font face="Calibri">“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.<br>
<br>
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,” ...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri">“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.”...</font><br>
<font face="Calibri">- -<br>
</font><font face="Calibri">“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.”<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext" href="https://www.theguardian.com/environment/2023/mar/12/scientists-warn-of-phosphogeddon-fertiliser-shortages-loom">https://www.theguardian.com/environment/2023/mar/12/scientists-warn-of-phosphogeddon-fertiliser-shortages-loom</a><br>
</font>
<p><font face="Calibri"><br>
</font></p>
<p><font face="Calibri"><br>
</font></p>
<font face="Calibri"><i>[ Nice summary of an important, clean energy
source. 6 min video ]</i></font><br>
<font face="Calibri"><b>Can Geothermal energy be the renewable game
changer?</b></font><br>
<font face="Calibri">Climate Club</font><br>
<font face="Calibri">Mar 12, 2023 #climatechange #energy
#geothermal</font><br>
<font face="Calibri">-How does geothermal energy work? And why are
we not all using it?</font><br>
<br>
<font face="Calibri">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.</font><font face="Calibri"><br>
</font>
<blockquote><font face="Calibri">Interesting video on energy price
comparison:<br>
</font><font face="Calibri">Engineering with Rosie: </font><br>
<font face="Calibri"> • AAre Renewables Actually the Cheaper
Option?</font><br>
<a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=quI_8xYSWYE">https://www.youtube.com/watch?v=quI_8xYSWYE</a><br>
</blockquote>
<font face="Calibri">Timeline:</font><br>
<font face="Calibri">00:00 Introduction<br>
00:23 What is Geothermal Energy<br>
00:38 How is it used?<br>
01:09 How is it extracted?<br>
02:22 Which countries use it?<br>
03:05 Advantages<br>
04:10 Issues<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=GQ1FIDRUhII">https://www.youtube.com/watch?v=GQ1FIDRUhII</a><br>
</font>
<p><font face="Calibri">- -<br>
</font></p>
<font face="Calibri"><i>[ "to Deluth" a destination, should be a
verb ]</i><br>
</font><font face="Calibri"><b>Duluth’s Wealthy ‘Climate Refugees’
Are Driving Up Real Estate Costs</b><br>
Plus a $3 million fib, RIP Eat Street Social, and the two local
angles to Mario's boots in today's Flyover.<br>
March 10, 2023<br>
</font><br>
<font face="Calibri">Welcome back to The Flyover, your daily midday
digest of what local media outlets and Twitter-ers are gabbing
about.<br>
<br>
The Ups and Downs of Being a Climate Oasis<br>
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!<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext"
href="https://racketmn.com/duluths-mn-wealthy-climate-refugees-are-driving-up-real-estate-costs">https://racketmn.com/duluths-mn-wealthy-climate-refugees-are-driving-up-real-estate-costs</a></font><br>
<p><font face="Calibri">- -<br>
</font> </p>
<font face="Calibri"> <i>[ Why not just call it "Panic Town"? ]</i></font><br>
<b>Out-of-Towners Head to ‘Climate-Proof Duluth’</b><br>
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.<br>
By Debra Kamin<br>
Debra Kamin traveled to Duluth, Minn., encountering January
temperatures and icy roads, to report this story.<br>
Updated March 12, 2023<br>
<br>
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.<br>
<br>
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.<br>
<br>
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.<br>
- -<br>
“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<br>
<a class="moz-txt-link-freetext"
href="https://www.nytimes.com/2023/03/10/realestate/duluth-minnesota-climate-change.html?smid=url-share">https://www.nytimes.com/2023/03/10/realestate/duluth-minnesota-climate-change.html?smid=url-share</a><br>
<p>- -</p>
<i>[Forget about this destination -- not highly considered in 26
min video discussion ]</i><br>
<b>New Zealand - Safe Haven?</b><br>
Climate Emergency Forum<br>
Mar 12, 2023<br>
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. <br>
<br>
This video was recorded on February 22nd as well as March 8th of
2023, and published on March 12th, 2023. <br>
<br>
Some of the topics discussed: <br>
- 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.<br>
- The eight billion dollar estimated cleanup.<br>
- How a government minister said this is definitely climate change
and we've really have to do something about it.<br>
- How the people had two weeks warning from the weather service
regarding this potential event.<br>
- 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.<br>
- The severe impact on crops such as fruits and wine.<br>
- 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.<br>
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=d2KYHmIP924">https://www.youtube.com/watch?v=d2KYHmIP924</a><br>
<br>
<p><font face="Calibri"><br>
</font></p>
<font face="Calibri"><i>[ "The agency of water is to support life" A
classic in a series of 3 videos from VICE - YouTube 22 mins -
must see ]</i></font><br>
<font face="Calibri"><b>Water Crisis: A Global Problem That's
Getting Worse | Planet A</b></font><br>
<font face="Calibri">VICE News</font><br>
<font face="Calibri">539,991 views Nov 29, 2021 #VICENews #News
#sponsored</font><br>
<font face="Calibri">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.</font><br>
<br>
<font face="Calibri">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. </font><br>
<br>
<font face="Calibri">Planet A is supported by @Zurich Insurance
Group #sponsored</font><br>
<br>
<font face="Calibri">Watch more from this series: </font><br>
<blockquote><b><font face="Calibri">The Destruction of Nature Is as
Dangerous as Climate Change </font></b><br>
<font face="Calibri"><a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=vHJd9GxEoX0">https://www.youtube.com/watch?v=vHJd9GxEoX0</a><br>
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. <br>
</font> <b><br>
</b><b> </b><b><font face="Calibri">We Can’t Beat the Climate
Crisis Without Rethinking This</font></b><br>
<font face="Calibri"><a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=pyXjW-A60oc">https://www.youtube.com/watch?v=pyXjW-A60oc</a><br>
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.<br>
</font> </blockquote>
<font face="Calibri"><a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=gi3aZLA1tMw">https://www.youtube.com/watch?v=gi3aZLA1tMw</a></font><br>
<p><br>
</p>
<p><br>
</p>
<font face="Calibri"> <i>[The news archive - looking back how Bush
gave up and caved in.]</i><br>
<font size="+2"><i><b>March 13, 2001</b></i></font> <br>
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. <br>
<br>
<a class="moz-txt-link-freetext"
href="http://www.heatisonline.org/contentserver/objecthandlers/index.cfm?id=3657&method=full">http://www.heatisonline.org/contentserver/objecthandlers/index.cfm?id=3657&method=full</a><br>
<br>
<br>
</font>
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