In Between Times 5-25-2023
JPMorgan to invest $200 MM in carbon capture, But how good is carbon capture really?, Storing water in artificial glaciers, Mississippi to lead the way on hydrogen power?
Take Action!
In order for the next generation of environmental technologies to take root and then to flourish it will take capital and buy-in from the world's biggest economic players. JPMorgan is one of the largest and it has just committed a fifth of a billion dollars to carbon capture/developing carbon capture tech. Let's encourage them in their efforts. This is a big move.
Click here to sign the petition!
(From Reuters)
The bank has signed purchase agreements with several carbon removal projects, including a nine-year deal with Switzerland’s Climeworks, for 25,000 tons of carbon removals from its direct air capture (DAC) projects, which suck CO2 from the air and permanently store it…
…Due to their early stage and complexity, carbon removal credits are much more expensive than traditional offsets which pay for emissions cuts elsewhere to compensate for emissions companies have not cut themselves.
Click here for the article.
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Not everyone likes carbon capture technology, Trying to kill a tech in its crib
At In Between Times we are pragmatists. There is a place for dogma, we suppose, somewhere. But we are primarily focused on solving problems. If carbon in the atmosphere is a problem it seems like it makes sense to pull carbon back out of the atmosphere and to sequester it. It’s carbon, too much in the atmosphere might be bad, but in the ground? That’s where it should be.
But some people see carbon capture as an impediment to their efforts (to rid the world of oil and gas altogether). There are those who fear the capital that will go into carbon capture might be better used elsewhere. But more fundamentally it appears these interests fear the disruption the tech means for their companies, organizations and agendas.
Carbon capture is just getting going. It is potentially a game changer. Some would prefer the game not change. But times (and games) change.
UNFCCC says carbon capture is unproven and poses unknown risks
In a briefing note, unnamed authors from the UN’s climate body (UNFCCC) said these removal activities are “technologically and economically unproven, especially at scale, and pose unknown environmental and social risks”. It concludes they are therefore not suitable for offsetting carbon emissions under the upcoming UN’s global scheme…
…The UN document does not spell out why these carbon removal technologies do not contribute to sustainable development and the industry disputed this.
“We would be pleased to connect you with carbon removal leaders advancing projects in Kenya, Kiribati, India, Brazil and other locations around the world where CDR is contributing directly to local regional economic development”, their letter said.
In fairness, CARBON REMOVAL CREDITS have had their issues. This story broke this week
CEO of biggest carbon credit certifier to resign after claims offsets worthless
The head of the world’s leading carbon credit certifier has announced he will step down as CEO next month.
It comes amid concerns that Verra, a Washington-based nonprofit, approved tens of millions of worthless offsets that are used by major companies for climate and biodiversity commitments, according to a joint Guardian investigation earlier this year.
In a statement on LinkedIn on Monday, Verra’s CEO, David Antonioli, said he would leave his role after 15 years leading the organisation that dominates the $2bn voluntary carbon market, which has certified more than 1bn credits through its verified carbon standard (VCS).
The Verra story, as reported by The Guardian, appears to be troubling. Worthless carbon credits are not good things. But I am struck by the degree to which Blockchain (and AI) tech will impact things like carbon credits in the near future. A blockchain can provide an “immutable ledger” (and radical transparency - in theory) for carbon credit transactions.
What can Blockchain do for carbon markets?
With proper vetting, blockchain can shed light on the quality, quantity, and diversity of carbon credits and open new doors to climate financing.
There are lots of moving parts to the climate equation, and within that equation many moving parts in the carbon extraction equation. But if you think excess carbon is harming the planet why would you NOT want to pull it from the atmosphere?
There is a cost to the taxpayer argument against carbon capture being funded by taxpayers through governments, but if one has no problem addressing other environmental issues with taxpayer funds what really is the issue?
The top 20 direct air capture companies In 2023
Storing water with artificial glaciers in the Himalayan high desert
We at In Between Times believe that innovation is key to solving many of the world’s greatest problems. When minds are free to solve problems, problems tend to get solved. Add in just a bit of capital and there is no telling what can be done. Below is a great example of this principle. It won a Rolex Award for Enterprise.
The next state poised to become a green energy hub, Mississippi?
Right now California leads the way in American hydrogen energy, which one might expect. However, deep in the south’s south it appears there is a rival emerging.
(From BoldTV)
Mississippi’s Hy Stor Energy could soon make the Magnolia State one of the nation’s biggest “green” hydrogen hubs. According to CleanTechnica, the company submitted its Mississippi Clean Hydrogen Hub (MCHH) proposal to the Department of Energy. If approved, Hy Stor could receive up to $1 billion in federal government funding to produce environmentally friendly hydrogen fuel…
…The Mississippi Clean Hydrogen Hub would produce enough zero-carbon hydrogen fuel to decarbonize several energy-intensive industries in the area. For example, Indiana’s Steel Dynamics produces 13 million tons of steel annually, the third-largest producer in the United States. The MCHH could provide completely renewable energy to the company as part of its commitment to become carbon-neutral by 2030. “The MCHH will [help industries] decarbonize their operations rapidly and lead the way toward a low-carbon future,” said Hy Stor.
Incidentally, in the US regular EVs get all the attention, but hydrogen powered vehicles are a technology that deserves more notice stateside. Your humble editor would love to have one if he had a place to fuel it.
Click here for the article.
In Between Times Podcasts
Event
June 2 @ 4:00 pm - 5:00 pm MDT
Police-Community Relations Conversation
Location: Online
Communities function best with (a few) shared values like safety and order. We want our communities to be safe. We want law enforcement to be fair. We want police to do their job in a manner that is safe for them and for community members. We expect these elements to be a given-a shared goal based on shared values-but we are in a moment where instead of safety, we are witnessing tragedy in our communities. Smartphone video is documenting police and citizen interactions in a way that wasn’t possible in earlier times. The role, management and funding of police has come under question as incidents of violence crossing racial lines are no longer invisible to the larger community. This conversation offers an opportunity to speak of our experiences and perspectives on this situation.