The Latest Trending Economic, Environmental and Demographic News Curated for You By The Balmoral Group
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Happy Friday, everyone!
In this Friday's edition we have several great articles on a new-startup looking to develop devices to absorb CO2, urban forestry grants for Oklahoma Communities, and some precedent-setting potential climate change legislation in Australia. The language closely follows several lawsuits brought by youth in Florida and elsewhere in the US and is worth monitoring. Our data visualization analyzes the used car market in September.
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Have a great weekend!
Khosla Ventures Backs Efforts to Make Orchards of Lung-Like Material to Absorb CO2 From Air
Spiritus, a new startup, is working on new air capture technology that mimics the architecture of a human lung. The material they are working with absorbs carbon dioxide passively and will be shaped like a fruit called a sorbent. These sorbents will absorb CO2 after which they can be drained of their CO2 and reused. The process will be powered by clean energy and help with carbon sequestration. Spiritus has received $11 million in funding from Khosla Ventures. Read More.
Summit Materials to Combine with Argos USA
The merger deal, which is valued at $3.2 billion, will allow Summit Materials to expand operations and capacity to 30 states, including Florida. With the deal, it will create the 4th largest cement and 6th largest aggregates platforms in the U.S. Summit Materials expect the transaction will provide annual synergies of, at least, US$100 million due to operational efficiencies such as a cement supply agreement from Argos’ cement plant in Cartagena, Colombia. The deal is expected to be completed in the first half of 2024. World Cement
8 Year's Worth of Clean Energy Investments Since IRA
Over $270 billion in capital investment has been announced for utility-scale clean energy projects and facilities since the US Inflation Reduction Act (IRA) went into law, the equivalent of about 8 years’ worth of investment. A new report on Clean Energy Investing in America, details industry achievements that include the 83 new or expanded facilities that are expected to add 30,000 jobs. The report also details $4.5 billion in savings for 24 million utility customers. Check out the interactive story here. World Economic Forum, CleanPower.org
Urban Forestry Grants for Sustainable Growth
Oklahoma Forestry Services (OFS) has announced the availability of federal Urban and Community Forestry Grants for Oklahoma communities. These grants aim to assist communities and non-profit organizations in developing local forestry plans, expanding urban forestry programs, and offering training opportunities. Trees are recognized for their positive impact on personal health, quality of life, economic growth, and environmental issues. Grant awards, ranging from $1,000 to $10,000, are open to non-profits, local government agencies, educational institutions, and civic or neighborhood associations. Read More.
Increasing Shade Deserts Affect Health and Quality of Life Urban Areas
The decreases in tree canopy and green space in urban areas throughout the county are causing increases in shade deserts, which are of particular concern in Florida, the hottest state in the U.S. Neighborhoods with more trees and green space tend to be cooler, and research has shown that temperatures within a single city can vary by up to 20 degrees. The lack of trees in urban areas can disproportionately affect poor and minority neighborhoods and has serious implications for human health and quality of life in urban areas. Read more here.
Climate Change Policy Considers Effects on Youth
In a year of record-setting climate disasters of flood, wildfire and extreme heat, Australian lawmakers have introduced a bill that would create a statutory duty for decisionmakers to (1) consider the health and wellbeing of current and future children in administrative decisions under their Infrastructure, Environmental, Export Finance, other relevant laws, and (2) not to make a significant decision relating to coal, oil or natural gas extraction if the likely emissions as a result of the decision pose a material risk to current and future children in Australia. Read More.
Data Visualization of the Week Used Car Prices - September 2023 Update
Below is out data visualization you can see that the used car market is currently experiencing price declines. This last week saw -1.40% decrease in prices, while the previous week saw a -0.86% decrease. The used car market bubble is showing signs of bursting soon. Read more about data on the car market here.
