Good Morning
Headline roundup:
Hertz plans EV fleet expansion with 65K Polestars - they already have 1k+ Teslas on the road! (BBG)
New IPCC report came out: “The report revealingly notes the barriers to achieving ambitious emissions cuts are more social and political than technological.” (A)
In more uplifting news, Environmental Voter Project’s 2021 Impact Report came out. Yes, a brilliant political solution - check it out! (EVP)
Top Deals of the Week
Climeworks, a 12-year-old, Zurich, Switzerland-based carbon removal startup that says it operates the world’s largest direct-air capture plant in Iceland, where trapped CO₂ is injected deep underground and stored permanently, has raised $650 million co-led by Partners Group and GIC. Largest direct carbon removal investment in history. (BBG)
ClimeCo, a 14-year-old, Boyertown, Pa.-based environmental commodities trading company, has raised $50 million in funding led by Warburg Pincus, with participation from The Heritage Group. (CC).
Sweep, a carbon management platform for large enterprises, raised a $73M Series B led by Coatue (BW)
Flux Marine, an electric boat startup, raised $15.5M led by Ocean Zero (TC)
Emitwise, a three-year-old, London-based AI-powered carbon management platform, has raised $10 million in Series A funding. Xplorer Capital led the round, joined by Outsized Ventures, True Ventures and ArcTern Ventures. (FS)
Green Theory
How the (vege)table turns
If you googled "vegan restaurants" in the last few months, you may have contributed to the breakthrough status of the search term–achieving 5000x growth. Whether you're vegan, or just interested in the food, eating a meal without meat seems to defy the predominant US perspective, where (on average) about a quarter pound of meat is consumed with every meal. Across the globe, the #3 Drawdown solution of a "plant-rich diet" can take many forms. Cutting back on animal products, practicing a religion, and abstaining from meat all number among food choices accompanied by lower emissions. Though estimates and definitions of vegetarianism vary, roughly 1 in 3 people identify as vegetarian. Trends and customs in the partaking or avoidance of animal-based foods abound.
From the school cafeteria to the entire social system, decisions around meat sit at an intersection of culture, politics, money, and taste. In France, farm trade groups erupted in protest when a mayor suggested a vegetarian school menu. Some reports showed signs saying, "to save a peasant farmer, eat a vegan." A continent away, India grapples with a moral conflict between top-down enforcement of religious vegetarian customs and respect for the freedoms of oppressed groups. Back at the US dinner table, the history of high meat consumption holds threads of medical violence against humans. Approving experimental hormones to save money on beefing up cattle, US regulatory agencies okayed substances known to cause cancer in the daughters of consumers. For a narrative perspective, Ruth Ozeki explores US meat culture and international reflections (including the story of diethylstilbestrol, the above hormone) in My Year of Meats. With a global economy, patterns and choices around meat grow ever more complicated.
No matter your reason for cutting back on cuts of flesh–personal health, lower emissions, respect for animal life, land conservation, and others–striving for a plant-rich diet should be a joyous journey. Naturally, people balk at external forces dictating what they can and cannot eat. On the other hand, for those with the option of a healthy plant-based plate, you may find practicing vegetarianism as freedom from meat, rather than a restriction. This year, growth has slowed for alternatives to leading animal products. Still, alternative milks now account for about $1 out of every $6 of total milk sales. To be sure, promoting a plant-rich diet stands to protect the land, people, and animals from our own destruction. Though subsidies and lobbying groups artificially prop up demand for meat, that doesn't excuse plant-based advocates from learning about and engaging with a diverse world of omnivores.
Alternatives for meat (mostly plant-based, fermented, or lab-grown) put new options on the table. Instead of forcing the consumer's hand, promotion of plant-rich diets ought to inspire change in our own view of our choices.
The Closer
I recently stumbled upon this Instagram account which follows the lives of two Peregrine Falcons (my favorite animal as a kindergartener) who live on the UC Berkeley clock tower. Grinnell, the male, died suddenly four days ago. I’ve been watching in real-time as Annie, the female, attempts to save their nest eggs. This has been an incredible saga and an absolute must-follow, imo.
And for the first time, a poem - written by my little cousin:
Climate change sucks
I like ducks
Please don’t litter
Pitter patter pitter
now I'm stuck on the soap opera - I just learned Annie's got a new guy!