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.
Earlier this week, the Biden Administration announced a two-year pause on the imposition of new tariffs and duties on imported solar panels from China, a move it says would create a “bridge” to spur construction of stalled solar projects in the United States. Reaction from the solar industry was mixed. Domestic manufacturers criticized the move, unhappy that the president was ushering in unwanted competition. Solar installation companies, on the other hand, praised the move.
John Berger, CEO of Sunnova, told Forbes that, “A two-year moratorium is a great step in the right direction. Tariffs not only hurt the American economy and the consumer, they also stifle innovation and competition in the market.”
The Big Read
Covestro
This Collaboration Will Use Quantum Computing To Make Manufacturing More Sustainable
German industrial manufacturer Covestro aims to develop software with QC Ware that would use quantum computing to create more efficient chemical reactions and better materials. Read more here.
Discoveries And Innovations
Researchers at Northwestern University have developed a photosynthesis-inspired process that may provide a pathway for making commodity chemicals using much less energy (and money.)
The federal government is considering a proposal for a California coastal marine sanctuary that would be led by the Chumash tribe.
Stella McCartney, Balenciaga, and Hermès are introducing handbags, shoes, and coats made of mycelium leather – an alternative to animal hides created from roots of mushrooms.
Monarch butterfly breeding populations have remained stable since 1993, a new study finds, disputing previous concerns raised by scientists that the butterfly species could face extinction because of dwindling winter colonies affected by climate change.
Sustainability Deals Of The Week
Engineering and technology company Bosch North America announced that it will be investing $1.3 billion in hydrogen technology by 2025.
Singapore’s state-owned Temasek Holdings will invest $3.6 billion to establish GenZero, a wholly owned investment platform that will invest in companies focused on nature conservation, carbon ecosystem development and other green technologies.
Toymaker Mattel has expanded its free toy recycling initiative to include Fisher Price Toys. The program, Mattel Playback, gives parents an opportunity to mail back old toys so they can be recycled.
Prime Infrastructure Holdings—controlled by billionaire Enrique Razon, Jr.—announced this week that it plans to build the world’s largest solar power facility in the Philippines, a project estimated to cost $3 billion.
On The Horizon
Offshore wind energy will likely be a bigger part of the future of Earth’s oceans. That in turn is going to create a race for ocean space.
What Else We’re Reading This Week
Floating solar power could help fight climate change — let’s get it right (Nature)
As the Great Salt Lake Dries Up, Utah Faces An ‘Environmental Nuclear Bomb’ (The New York Times)
Google Earth Engine is taking its closest look yet at how landscapes are changing (Popular Science)
Green Transportation Update
Getty Images
On Friday afternoon, Tesla said it plans to ask shareholders to approve a 3-for-1 stock split at its upcoming annual meeting, which will be held on August 4. According to the company’s regulatory filings, its management believes another stock split (its last one was less than two years ago) will “help reset the market price.” The filing also revealed that Oracle founder Larry Ellison will be stepping down from the company’s board of directors and will not be replaced. Tesla shares ticked up 1.3% in after-hours trading when the split was announced, but share prices are still down 42% this year.
The Big Transportation Story
AFP via Getty Images
Elon Musk Has Lots To Say About Workers At Tesla–Which Continues To Lead U.S. Carmakers In Safety Violations
Over the past three years, the billionaire entrepreneur’s electric-vehicle company had more OSHA citations and fines than 14 other auto companies–combined, a Forbes investigation finds. Read more here.
More Green Transportation News
Biden Administration Plan To Juice EV Charging Network Aimed At Emulating Gas Station Experience
Tesla Stock Can Jump Another 50% Thanks To ‘Superior’ Growth In The Years Ahead, Analysts Say
European Plan To Ban New ICE Cars By 2035 Irks Manufacturers, Inspires Environmentalists
Volta Launches Program To Make EV Charging More Accessible, Affordable
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