📈 Rising interest rates

📈 BUSINESS & MARKETS

• Raising interest rates hinders the fight against the climate crisis by slowing down the transition towards renewable energy and shielding oil and gas producers from competition by low-carbon producers. Read more.

• Collins Bus Corporation, a top US school bus manufacturer, has made the E-Transit Type A school bus available for order, after Ford showcased the electric vehicle in March; the E-Transit is a dominant force in the US electric van market and can be upfitted to suit a variety of purposes. Read more.

• Ryder System Inc. launched RyderElectric+, an all-in-one electric vehicle program that streamlines the deployment and operation of light-duty EVs in fleets by offering electrification consulting, vehicle leasing, charging, telematics and maintenance services, providing customers with a simplified and comprehensive solution. Read more.

• The looming El Niño, predicted to start this summer, could worsen the state of food insecurity across the US by leading to declines in agricultural production, further spiking food costs due to its effects on weather patterns. Read more.

• McKinsey & Co. predicts that mobility will change by 2035 with a decrease in private car sales by up to 30% due to the growth of autonomous vehicles, shared mobility, and government regulation. Read more.

• Westinghouse announced plans for a small modular reactor, AP300, to generate virtually emissions-free electricity and replace coal plants, with no special fuels or liquid metal coolants. Read more.

• The US might add three times its current solar power generation capacity by installing 360 gigawatts of solar in the next eight years, according to BloombergNEF. Read more.

• Captura and AltaSea partner to advance ocean-climate solutions with a 100-ton annual CO2-capturing system at the Port of Los Angeles. Read more.

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🏛 POLICY & POLITICS

• Congress moves to impose tariffs on U.S.' main source of solar panels, threatening the rapid growth of the clean energy sector and potentially derailing the decarbonization of the world’s second-largest emitter of CO2. Read more.

• US Senate repeals Biden's two-year solar import tariffs waiver, risking $1bn retroactive tariffs and project cancellations, while the Solar Energy Industries Association vows to fight to preserve US energy security and protect 30,000 jobs. Read more.

• President Biden’s Inflation Reduction Act promises to re-industrialize the US with $369bn in clean energy subsidies, but economists warn it may stoke inflation due to a potential labor shortage. Read more.

• The Federal Energy Regulatory Commission (FERC) is close to finalizing the interconnection rule and minimum interregional transfer capacity, in order to address barriers to regional and interregional transmission investment. Read more.

• The US needs to double the pace of power line construction to fully tap the potential of renewable energy, but the byzantine approval process, which includes reviews from every municipality and state and federal agencies, makes it a daunting challenge. Read more.

• The US Department of Energy is providing $13 million to fund geothermal heating and cooling systems design for 11 communities across the country, which could potentially save money on heating and cooling and reduce fossil fuel use, with select designs to be developed for other cities to follow. Read more.

🚀 STARTUPS & TECH

• Former NBA player Rick Fox's new startup, Partanna, aims to combat climate change by creating concrete that removes CO2, and has received $12 million in pre-seed funding. Read more.

• Designing high-performance batteries is a complex challenge with almost limitless design possibilities, as Chemix's co-founder and CEO Kaixiang Lin explains, driving the industry to turn to artificial intelligence to create new and specialized chemistries. Read more.

• Bend secures a $2.5M seed round to take on Brex and Ramp, offering a green solution for companies to tackle Scope 3 emissions with a free, API-embedded corporate spend card. Read more.

• Food rescue startup Olio hopes to generate carbon credits and corresponding payments for the emissions associated with the food it diverts from landfills, collaborating with non-profit Verra to develop a new methodology for food waste carbon credits. Read more.

• Brooklyn hosts the largest U.S. geothermal complex, a residential apartment set for completion in 2025. Read more.

🌎 SOCIETY & IMPACT

• American dads are embracing clean energy, electric vehicles, and plant-based diets, becoming climate dads, despite the Republican campaign to make environmentalism seem the domain of liberal elites. Read more.

• Over 24,500 people evacuated due to "out of control" wildfires across Alberta, Canada, as officials declare a provincial state of emergency. Read more.

• Recruiting more women could help fix the US electrician shortage, with women currently making up just 2% of electricians. Read more.

• The "No Mow May" movement gains momentum as environmental concerns prompt a debate over lawn care techniques and their impact on biodiversity. Read more.

• Big beef's climate messaging machine uses a Masters of Beef Advocacy program to spread misleading arguments about cattle's sustainability, downplaying their impact on the environment. Read more.

• Small farmers in East and Southern Africa are adapting to climate change in innovative ways, such as resurrecting old crops, planting trees, and growing more resilient varieties of coffee. Read more.

📊 CHART OF THE WEEK

The future of US offshore wind faces challenges, with twice as many projects in early development, lacking power off-take deals, according to a data-rich report by the American Clean Power Association. Read more.

➡️ GOOD READS

^{In partnership with Blinkist}

In-depth Q&A: Does the world need hydrogen to solve climate change?

Carbon Brief explores the potential of hydrogen as an alternative fuel for tackling climate change and the challenges that must be overcome to make it viable for powering everything from transportation to industry in an in-depth Q&A with experts. Read more.

Who are the climate tech VCs?

Entrepreneurs have a unique opportunity as the world warms, with an influx of incentives, spiking spend, technology traction, and talent, making it the perfect time for climate-first investors to lean into the current. Read more.

Powerful ideas in 15 minutes

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