This week’s Current Climate highlighted the Biden Administration’s effort to transition Americans from gasoline cars to electric vehicles (EVs) to reduce carbon emissions. Despite record-breaking EV sales in 2021, the pace has slowed this year due to factors such as high prices, steep interest rates on loans, and tighter federal rules on battery content. California, the leading EV market in the U.S., saw record EV sales in the first quarter, accounting for 38% of the country’s total and 24% of all new vehicles sold in the state.
One of the challenges for EV adoption is the availability of public charging infrastructure, which took an unexpected turn recently. Tesla, the top EV seller with a large charging network, cut hundreds of employees in its charging unit, raising questions about the impact on the broader EV market. CEO Elon Musk assured that the charger network would continue to grow, albeit at a slower pace. The implications of this move will unfold over the rest of 2024.
Protein Evolution, a startup in New Haven, Connecticut, is utilizing artificial intelligence to design enzymes that can break down plastic waste and recycle it into materials indistinguishable from petroleum-derived polyester. With only 9% of plastic currently being recycled, the company aims to target the remaining 91% that ends up in landfills or incinerated. By turning old clothes, sheets, and textiles into fully recyclable materials, Protein Evolution hopes to address the growing plastic pollution crisis.
Talus Renewables, led by CEO Hiro Iwanaga, is focused on producing green ammonia as a sustainable alternative to the carbon-intensive conventional production methods. Ammonia is a critical raw material used for fertilizer and industrial purposes, but its production is environmentally harmful and expensive. Utilizing renewable power and modular systems, Talus Renewables is working on expanding its operations in the U.S. and Europe to offer a more cost-effective and sustainable source of ammonia for farmers, particularly in sub-Saharan Africa.
In other news, Lukas Walton’s climate-focused investment firm, S2G, raised $600 million in outside funding, highlighting the growing interest in sustainable investing. Additionally, concerns have been raised about the chaotic pivot towards robotaxis by Tesla, led by CEO Elon Musk. Meanwhile, startup Zanskar is using artificial intelligence to unlock geothermal power, and Biden aims to boost the production of sustainable aviation fuel with tax credits. Calstrs, California’s retirement plan, is facing challenges in calculating the carbon footprint of its portfolio, and insurers are being criticized for gaming out disaster risk and dropping customers. Methane emissions from gas flaring are also being hidden from satellite monitors, raising concerns about environmental impacts.
Overall, the sustainability landscape is evolving rapidly, with innovations in clean energy, recycling technologies, and sustainable investment strategies shaping the future of a more environmentally friendly economy. As government policies, corporate initiatives, and public awareness continue to drive the transition towards a more sustainable world, it is crucial for businesses and individuals to stay informed and take action to mitigate climate change and protect the planet for future generations.
