Hola!
A quick recap of the week. Carbon is still big in certain countries (China, India); however the pipeline of proposed coal power plants is rapidly decreasing. Thanks to our friends of 🌬 ☀
Get to know what the fossil incumbents are doing to decarbonise in the US. Is Carbon Capture and Storage (CCS) at scale a possibility? A need ? or a reality? Houston might be a fertile ground to find out as the recent news from Exxon and others that are playing catch up in the whole Energy Transition game.
Feliz semana!
CHART OF THE WEEK - Is that enough? Newly operational vs. canceled coal-fired power projects worldwide
Planned projects have fallen by 76% since late 2015 when the Paris Agreement was struck as governments have endorsed new restrictions, the firm's new report states.
The global pipeline of proposed coal power plants has collapsed by 76% since the Paris Agreement in 2015, bringing the end of new coal power construction into sight.
Chevron commits $10 billion to low-carbon projects
American companies are finally catching up on the Climate Tech venture commitment that is required for society to reach net zero and a under 2 degree future.
Energy giant Chevron unveiled plans Tuesday to invest $10 billion in low-carbon business initiatives through 2028 amid mounting pressure on producers to adopt climate-friendly practices.
The $10 billion investment marked a threefold increase over Chevron’s previous target of $3 billion. The company said $2 billion would be applied toward efforts to reduce carbon emissions from its operations.
Houston wants to capture all the Carbon!
We are very happy to see that the first project of our friends at Vineyard Wind has achieved financial close.
There have been many milestones passed over the last several months, from securing the final federal permits to signing the U.S.’s first offshore wind project labor agreement,” said Vineyard Wind CEO Lars T. Pedersen. “Achieving financial close is the most important of all milestones because today we finally move from talking about offshore wind to delivering offshore wind at scale in the U.S. With the signing of these agreements, we now have everything in place to start construction, launching an industry that will immediately start to create jobs and make a significant contribution to meet Massachusetts’ carbon pollution reduction targets. We couldn’t have made it this far without the tremendous support we’ve received from local residents, elected officials at every level of government and so many others. We can’t thank you enough and look forward to working together for many years to come.
MAP OF THE WEEK - A running list of Climate Tech VCs
Although this is not a real map, this is what is called a company map in the VC space
If you want to send us an idea or a tip, a #ClimateTech company that we should have a look at, or if you have any questions, please reach us at: davidcongeof@gmail.com or arraiz.p.daniel@gmail.com.
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