This week’s Current Climate, which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week.
Eight years after issuing his first encyclical on the environment, Pope Francis is back with another apostolic exhortation, this one more directly focused on climate change. The new encyclical, which is addressed “to all people of good will on the climate crisis” takes those who deny the reality of climate change to task while exhorting both individuals and world leaders to hasten the transition to a more sustainable economy before irreparable damage is done to the world.
“I ask everyone to accompany this pilgrimage of reconciliation with the world that is our home and to help make it more beautiful, because that commitment has to do with our personal dignity and highest values,” Pope Francis wrote. “At the same time, I cannot deny that it is necessary to be honest and recognize that the most effective solutions will not come from individual efforts alone, but above all from major political decisions on the national and international level.”
The encyclical in full can be found here.
The Big Read
Biomaterials Firm Bolt Threads, Formerly A Unicorn, Plans SPAC Deal At A $250 Million Valuation
Bolt Threads, a maker of biomaterials including a key ingredient for skincare inspired by spider silk, plans to go public in a SPAC deal which gives Bolt Threads a pro-forma enterprise value of $346 million. It is expected to close in the first quarter of 2024.
Read more here.
Sustainability Deals Of The Week
Charging Standards: South Korean automaker Hyundai announced plans on Thursday to adopt electric vehicle giant Tesla’s charging standards, making it the latest in a series of automakers, including Ford, General Motors, Honda and Polestar, to give its drivers access to Tesla’s growing supercharger network as EV competition surges.
Green Hydrogen: Norwegian company Hystar announced it plans to build a 4GW, fully automated electrolyser facility in Norway for the production of green hydrogen.
Land Management: Vibrant Planet, which uses AI and machine learning to help stakeholders prevent wildfires and restore ecosystems, announced it has raised a $15 million series A round.
The Big Transportation Story
French CO2 Tariffs Would Send U.S. Pickup Prices Beyond $100,000
Big, fuel-thirsty pickups and SUVs dominate the U.S. market, but are less of a factor in the European auto market. That gap will only widen if France moves ahead with a proposal to slap a carbon tax that could add as much as $61,000 to the price of new cars and SUVs that fail to meet increasingly stringent carbon emissions rules. If a similar tariff were enacted in the U.S. it would push the price of a base version of Ford’s F-150 pickup from $37,000 to more than $100,000.
Read more here.
Other Sustainability News
Chemours is ramping up its production of PFAS (aka “forever chemicals”) as demand from domestic chip manufacturing is expected to rise.
The monarch butterfly was removed from the endangered species list this week in an unusual reversal just over a year after the iconic orange-and-black migratory butterfly was put on it.
Authorities in Fremont County, Colorado, found at least 115 bodies at a “green” funeral home that they’re investigating for improper burial.
Humans pose a greater threat to mammals in South Africa than any other predator—including lions.
What Else We’re Reading This Week
U.S. Treasury details EV tax credit rebate rules (Reuters)
Solar Panels and Wind Turbines Are Today’s Answer to the Model T (Bloomberg)
EV Maker Lucid’s $338,000 Loss Per Car Turns Investors Off (Bloomberg)
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Jessica Irvine is a tech enthusiast specializing in gadgets. From smart home devices to cutting-edge electronics, Jessica explores the world of consumer tech, offering readers comprehensive reviews, hands-on experiences, and expert insights into the coolest and most innovative gadgets on the market.
