TBLI Weekly - August 30th 2022

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TBLI Weekly - August 30th 2022

Upcoming TBLI events


 

Featured TBLI events of the week:



TBLI Virtual Happy Hour/Mixer

Friday, September 2nd - 17:00 - 18:30 CET

Join us for our monthly Networking and Mixer. Meet thought leaders, entrepreneurs, and investors.

Click here for a calendar reminder at the time of the event with a link to the event




Click below for an overview of all upcoming TBLI events


Past TBLI events

Click on the image below to subscribe to the TBLI Talk Circle for access to every single recording of our virtual TBLI events, this includes our past virtual TBLI Conference events.


 

The TBLI BETTER WORLD PRIZE is a new initiative to recognize the Best ESG Measurement System.

Q4 2022, date TBA

Register here if you would like to present on behalf of your organization to discuss why your system for ESG measurement is the best.

There are no costs involved in this award.

For more info on this initiative click here

If you would like to learn more, please contact via email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Radical Truth - TBLI Podcast


Driving impact with Corporate Venture Building - how established companies can build new growth and impact


Marko Oksanen is CEO of Coventures and an experienced product leader. Marko has been involved in building digital products and ventures his whole career. As co-founder, product manager or venture designer he has been hands-on building 20+ fast growing digital ventures in Helsinki & Berlin. Now as Coventures CEO Marko has been in the deep end of Corporate Venture Building and has seen many different approaches for building impact in cooperation with established companies and entrepreneurs. In his talk shares his learnings on how corporations can successfully build new ventures and which pitfalls to avoid.

What will you learn?

  1. What role corporate venture building can play in the impact ecosystem.
  2. Reasons why corporate venture building initiatives doesn't succeed.
  3. Different types of partners in corporate venture building ecosystem, why and when to partner with them.

Click here to listen to the episode on Anchor.

You can find also find our podcast here:

'Zombie Ice' From Greenland Will Raise Sea Level 10 Inches

 

A new study finds that over 120 trillion tons of ice doomed to melt from Greenland's ice sheet will raise the global sea level by at least 10 inches.

Zombie ice from the massive Greenland ice sheet will eventually raise global sea level by at least 10 inches (27 centimeters) on its own, according to a study released Monday.

Zombie or doomed ice is ice that is still attached to thicker areas of ice, but is no longer getting fed by those larger glaciers. That’s because the parent glaciers are getting less replenishing snow. Meanwhile the doomed ice is melting from climate change, said study co-author William Colgan, a glaciologist at the Geological Survey of Denmark and Greenland.

“It’s dead ice. It’s just going to melt and disappear from the ice sheet,” Colgan said in an interview. “This ice has been consigned to the ocean, regardless of what climate (emissions) scenario we take now.”

Study lead author Jason Box, a glaciologist at the Greenland survey, said it is “more like one foot in the grave.”

The unavoidable ten inches in the study is more than twice as much sea level rise as scientists had previously expected from the melting of Greenland’s ice sheet. The study in the journal Nature Climate Change said it could reach as much as 30 inches (78 centimeters). By contrast, last year’s Intergovernmental Panel on Climate Change report projected a range of 2 to 5 inches (6 to 13 centimeters) for likely sea level rise from Greenland ice melt by the year 2100.

What scientists did for the study was look at the ice in balance. In perfect equilibrium, snowfall in the mountains in Greenland flows down and recharges and thickens the sides of glaciers, balancing out what’s melting on the edges. But in the last few decades there’s less replenishment and more melting, creating imbalance. Study authors looked at the ratio of what’s being added to what’s being lost and calculated that 3.3% of Greenland’s total ice volume will melt no matter what happens with the world cutting carbon pollution, Colgan said.

Read full article

Florida’s Ron DeSantis declares war on ESG

So, Florida Governor Ron DeSantis announced last week that he was, via executive fiat through the State Board of Administration, ordering that “social, political or ideological interests” be banned from consideration when making decisions for the State’s pension fund. Now, this is noteworthy for several reasons, but before I get to those, let me just quote the astonishing insight behind this decision. Here it is:

“Corporate power has increasingly been utilized to impose an ideological agenda on the American people through the perversion of financial investment priorities under the euphemistic banners of environmental, social and corporate governance and diversity, inclusion and equity.”

Some might say that other institutions, such as the Supreme Court, are doing a much more direct and vigorous job of imposing an ideological agenda on the American people than corporations – but, laying that aside, let’s take a look into a couple of aspects here.

At least the Governor knows his enemy, correctly spelling out what ESG and DEI stand for. But does he know what they represent?

E is for Environment. Increasingly fragile in the Southern Coastal States, where rising oceans, more deadly hurricanes and more prolonged and destructive rainfall are imposing billions of dollars in actual costs and threatening to create a tide of “climate refugees” forced to relocate from formerly prime real estate. Seems like a responsible political leader would laud corporate efforts to reduce the climate impact of operations, especially if your state has 1,350 miles of coastline.

S is for Social, i.e., people (otherwise known as voters or constituents, in this context). To save time, and because they flow together, let’s also discuss diversity, inclusivity and equity (DEI) in this space. Aside from the human impacts mentioned above under environment, all these elements taken together represent important decisions by businesses to try, within reasonable constraints, to ensure that their workforces more closely resemble the faces seen in America – and other countries – in all their varied skin hues, genders and philosophies. In other words, to value and respect each human individual for what they contribute to advancing the business. Funny – seems like a politician or a political leader should be very interested in a bigger tent filled with more – and more diverse – supporters.

G is for governance. Following laws, doing the right thing, having clear procedures, and being bound by ethics and morality… seems like those all are good things. Or maybe not, for some.

Read full article

Companies that Could Benefit from Global Zero Waste Programs

Around the world, leaders are working towards zero waste. In parts of the United States, zero waste programs are being set up to phase out waste entirely. Even Metro Vancouver has a goal of zero waste by 2040. In fact, according to Vancouver.ca, “As a city we've committed to conserve resources, prevent waste of all types, including wasted food at all points between farm and table, compost inedible food or convert it into fuel, repair and maintain products and materials to extend their lives, and share, reuse, and refurbish products and materials before recycling them.” All could be beneficial for companies that deal with recyclable material, such as asphalt shingles, like Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF). Other shingles stocks to be aware of in the market include Owens Corning (NYSE: OC), Builders FirstSource Inc. (NYSE: BLDR), Beacon Roofing Supply Inc. (NASDAQ: BECN), and Home Depot Inc. (NYSE: HD).

Look at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) For Example

Northstar Clean Technologies Inc. provided an update on operations at its asphalt shingle reprocessing facility in Delta, BC, and other corporate initiatives. The Company continues to focus its efforts on ramping up from steady state production to commercial production at the Empower Pilot Facility.

Empower Pilot Facility

The Company continues to operate in steady state production at the Empower Pilot Facility, reprocessing feedstock of asphalt shingles into liquid asphalt, aggregate and fibre. The amount of shingle feedstock processed has been steadily increasing and the Company expects to achieve production in the range of 50 to 75 tonnes per day by the end of Q4 2022. Steady state production has given the Company an opportunity to make operational strides in three main areas:

1) Identifying Key Areas of Improvement: The lessons learned while operating the production process from input to output has enabled the Company to identify key areas of improvement in equipment performance, operating philosophy, process integration, and critical uptime and reliability criteria.

2) Feedback from Product Specification Analysis: As previously announced, the Company has developed the internal capability for product testing, has carried out testing through third party laboratories and has worked extensively with potential customers in the paving, shingle manufacturing, and roofing system manufacturing sectors to carry out product analysis. This feedback has contributed to performance improvements at the Empower Pilot Facility that the Company plans to incorporate into the design of its planned Calgary scale up facility.

3) Engineering Development Work: The Company has continued the engineering design work on key elements of the Empower Calgary Facility with long lead manufacturing partners. Their feedback is now being incorporated into the equipment, operating philosophy and processing integration of the Empower Pilot Facility.

Cryptocurrency ethereum plans to cut carbon emissions by 99% with upgrade

The ‘merge’ project will end role of miners in blockchain ecosystem to help reduce electricity usage

Ethereum, the second largest cryptocurrency, will complete a plan to lower its carbon emissions by more than 99% in the next month, the foundation that controls the platform has confirmed. The project, called “the merge”, will result in ethereum switching the underlying technology it uses for validating crypto transactions to a new process that requires less energy to manage. Once complete, the merge will end the role of “miners” in the ethereum ecosystem, helping to dramatically reduce electricity usage. These users run huge quantities of powerful, purpose-built technology all day, every day, to generate random numbers that affect the security of the overall network.

The energy consumption of ethereum mining is currently estimated at about 72 terawatt-hours a year, according to Alex de Vries, a Dutch economist who runs the Digiconomist website. That is comparable with the power consumption of Colombia, with a carbon footprint equivalent to that of Switzerland. The changeover will lead to the platform moving away from a “proof of work” process, which requires cryptocurrency miners to generate random numbers to verify records stored on the blockchain – the technology underpinning digital currencies such as ethereum and the more popular bitcoin. Ethereum will instead use a “proof of stake” process, in which the network will be secured by users who “stake” sums of the cryptocurrency, committing themselves to acting honestly at the risk of losing it.

De Vries said the switchover would eliminate the majority of electricity usage. “They could cut off a huge chunk of their power demand. I will be working on quantifying that more accurately but at least 99% (probably even 99.9%) reduction should be achievable. This translates to something like the electricity consumption of a country like Portugal (a quarter of all data centres in the world combined) vanishing overnight.” The proof-of-stake model is currently being used on an experimental “beacon” blockchain, where it has been tested to ensure that the theoretical security it provides is sufficient for the multibillion-dollar economy that sits on top of the ethereum network. Now the experimental blockchain will take over the work of the main network.

“Imagine ethereum is a spaceship that isn’t quite ready for an interstellar voyage,” the ethereum foundation said, explaining the merge. “With the beacon chain, the community has built a new engine and a hardened hull. After significant testing, it’s almost time to hot-swap the new engine for the old midflight. This will merge the new, more efficient engine into the existing ship, ready to put in some serious lightyears and take on the universe.” There are still potential problems ahead. The foundation said users needed to watch out for an increase in scam activity because hackers could take advantage of the confusion around the switchover to try to trick users into giving up their passwords, their funds or both. “You should be on high alert for scams trying to take advantage of users during this transition,” the organisation said. “Do not send your ETH anywhere in an attempt to ‘upgrade to ETH2’. There is no ETH2 token, and there is nothing more you need to do for your funds to remain safe.”

Read full article

Interested to read more about crypto & blockchain? TBLI's managing director, Sam Rubinstein writes a recurring blog to discuss the potential of the technology. Click here for the first edition of the most recent series of write-ups: Crypto & Web3 reflections in the aftermath of euphoria

Nothing In History Compares To China's Brutal Heat Wave, Weather Historian Says

 

“This combines the most extreme intensity with the most extreme length with an incredibly huge area all at the same time,” the climatologist told New Scientist.

The two-month-long stretch of hot weather baking large swaths of China is, all things considered, the world’s most extreme heat wave on record, one climatologist argues. The country has kept national weather records since 1961, and this summer’s hot spell marks the longest continuous period of high temperatures that southern China has seen since then, Agence France-Presse reported Thursday.

Climatologist and weather historian Maximiliano Herrera believes that when all factors are taken into account, it’s the most severe heat wave recorded anywhere. “This combines the most extreme intensity with the most extreme length with an incredibly huge area all at the same time,” Herrera told New Scientist on Tuesday. “There is nothing in world climatic history which is even minimally comparable to what is happening in China.”

From the nation’s Sichuan province in the southwest to Jiangsu on the eastern coast, temperatures have routinely surpassed 104 degrees Fahrenheit, The New York Times reported earlier this month. On at least one day, the temperature in Chongqing municipality hit 113 degrees. Severe drought has dried up rivers, lakes and other bodies of water ― including reservoirs generating hydropower that Sichuan relies on for most its electricity, CNN reported. As a result, the province of 80 million people has faced massive power cuts. Factories have closed, public transportation has run in darkness and farmers are seeing devastating crop losses.

Read full article

Long-duration energy storage is key to harnessing UK’s wasted wind

Over the past decade, the UK has been positioning itself as a global model for harnessing wind energy. The Office for National Statistics reports that electricity from wind generation increased by 715% from 2009-2020. Due to an abundance of offshore wind resources, more than 75,000 GWh of wind energy was produced in 2020, accounting for 20% of the nation’s total generation. That’s enough to power 8.4 trillion LED light bulbs.

While the UK benefits from considerable wind resources, there are times when the wind is producing substantially more energy than can be used. The UK can mitigate this waste, without increasing its reliance on gas, while reducing energy costs and achieving energy security, by making significant investments in long-duration energy storage (LDES).

Over a nine-month period, from September 2021 to May 2022, wind turbines in the UK produced 1,300 GWh of energy that went to waste because it exceeded the needs of the grid at the time. This is enough renewable energy to power a UK city for an entire year.

As a result of this waste, the UK paid a total of £390 million for either too much or too little wind energy. When there was too much wind, the UK paid £150 million in constraint payments to run wind generators down. And when there was too little wind, the UK powered the grid with gas, at an estimated cost of £120 million.

The bottom line is that millions of pounds are being wasted in the midst of an energy crisis because the UK does not have the ability to save excess electricity for when it’s most needed, and it’s happening when total renewable generation accounts for just 40% of our electricity. By 2030, renewable generation could double to near 80%, meaning the UK is likely to have even more periods when renewables are providing more electricity than consumers can use, at double the cost.

Read full article

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