Why it matters: Ominous forecasts about the impact of climate change serve as the backdrop for the world — led by U.S. lawmakers and companies — to debate big action on the problem, which could upend energy systems and our way of life.
The latest in a series of relentless heat waves is bringing dangerously hot temperatures to a the Central U.S. on Wednesday, and will contribute to a severe thunderstorm outbreak across the Upper Midwest. The heat will expand in scope toward the end of the week.
The big picture: Heat watches, warnings and advisories are in effect across 19 states, from Portland, Oregon east to Minneapolis, and running all the way south to New Orleans. Temperatures of between 10°F and 15°F above average in these areas along with high humidity poses a public health threat.
A prominent energy venture capital firm and large companies including Microsoft and Duke Energy are launching a new fund to help diversify the clean technology startup sector.
Driving the news: The clean energy and climate-tech focused Energy Impact Partners (EIP) on Wednesday morning unveiled the Elevate Future Fund.
A new analysis finds that European Union electricity use is almost back to its pre-pandemic levels, but the bloc's use of fossil fuels to generate power has not returned nearly as much.
The big picture: The data, via the environmental think tank Ember, reveal a mixed verdict of sorts for the EU's efforts to decarbonize.
There's so much private equity and infrastructure fund action in the climate tech space these days that it's hard to keep up.
Driving the news: Brookfield Asset Management on Tuesday closed $7 billion for its Global Transition Fund that aims to scale clean energy and help carbon-intensive industries cut emissions.
Private equity giant TPG this morning said it raised $5.4 billion for the inaugural round of its TPG Rise Climate fund.
Why it matters: Per the New York Times, it's the "largest climate-focused fund in the world." And there's more coming.
The COVID-19 pandemic-related lockdowns exerted a slight net warming effect on the planet, but Australian wildfires had a much bigger and faster climate impact, cooling the planet from December 2019 through mid-2020, a new study finds.
Why it matters: The study shows how two largely manmade forces — the response to a pandemic and climate change-related wildfires — can influence the planet, with implications for understanding future climate change.
A widespread heat wave has begun across the contiguous U.S., with at least 30 million people likely to see temperatures reach or exceed 100°F by the end of the week. At least 17 states are under heat warnings or advisories on Tuesday.
Why it matters: The hot weather, which comes courtesy of another heat dome building across the Southwest, Rockies and then sliding into the western Plains, will only aggravate drought conditions and worsen many of the western wildfires.
The pressure is on for Lucid Motors. Shares of the electric vehicle company closed up more than 10.6% on its first day of trading on Monday.
Why it matters: Lucid has yet to deliver any cars. The company went public by merging with a SPAC, Churchill Capital Corp. IV, in part to get enough cash to start production.
America is moving toward an electric vehicle future, but the present infrastructure can be maddening for those who own an EV. Particularly if that EV isn't made by Tesla.
Why it matters: President Biden's infrastructure proposal includes billions of dollars for EV charging, in an effort to replicate the ubiquity of gas stations.
Two significant U.S. lakes, one of which is a major reservoir, are experiencing historic lows amid a drought that scientists have linked to climate change.
What's happening: Lake Powell, the second largest reservoir in the U.S., has fallen to 3,554 feet in elevation, leaving the crucial lake on the Colorado River, at 33% capacity — the lowest since it was filled over half a century ago, new U.S. Bureau of Reclamation data shows.