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Carbon News

Tesla Carbon Credit Sales Jump by 116%

Tesla has been criticized for its previous years’ earnings being dependent on the sales of its carbon credits. These credit sales have been a

major driver of Tesla’s profits over the years.

But since it separated reporting its regulatory credits from other sales, it showed that it’s profitable.

The carmaker revealed a big jump in its net income in its latest quarterly report. This is a plus for the company’s reputation as it managed to exceed Wall Street’s estimates. And this is amid the worst supply chain shocks hitting the entire industry right now.

Tesla’s profits on electric vehicles totaled $3.22 a share, beating the $2.27 estimates. Also, actual revenue rose to $18.8 billion, higher than $17.9 billion estimates.

Most interesting is its $679 million carbon credit sales. It’s more than double the prior quarter’s sales of $314 million and is even much higher than its Q1 2021 sales ($518 million). Its Q2 2021 and Q3 2021 credit sales are $354 million and $279 million, respectively.

The chart below shows Tesla’s regulatory credit sales since Q1 2021.

Tesla’s regulatory carbon credit sales account for over 20% of its profits this quarter.

Tesla has warned that carbon credit sales in the future will fluctuate and decline.

Tesla’s Regulatory Carbon Credit Performance

Tesla has earned billions already through its regulatory carbon credit sales. This allows other automakers to meet emissions regulations and avoid billions in fines.

Tesla has been receiving emissions credits from various local regulations sources like California’s ZEV program. These credits are then sold which helps the company’s bottom line.

Tesla has been getting paid by other carmakers for selling its carbon credits for years whose names used to be a secret.

But a report from Bloomberg revealed two famous names. These are General Motors and Fiat Chrysler Automobiles (FCA). About how much exactly they’re buying, it’s between them and Tesla.

So far, it’s only Tesla that’s selling a lot of regulatory credits within the industry. Others even speculated that Volkswagen is also buying credits from Tesla to offset its huge emissions credit shortage in China. While others are striving to be at par with Tesla’s all-electric car production.

What Comes Next For Tesla’s Regulatory Carbon Credits?

Governments are tightening up their regulations to decarbonize the automotive industry. This is because of the urgent need to tackle climate change and the industry’s huge emissions.

In a sense, this seems to drive Tesla’s carbon credit sales further up in the coming years. Plus, the company remains the most-valuable zero-emissions vehicle (ZEV) maker by volume.

Unfortunately, other major automakers are also catching up on their own ZEVs programs. It means that they will rely less on Tesla in meeting the regulatory carbon credit cap.

For instance, Europe’s Stellantis that owns FCA (once Tesla’s biggest buyer of carbon credits) planned to sell more of its own ZEVs.

In fact, it had significant emissions reductions in 2021 with its electrification ramp-up. This involves its battery electric vehicles and low emission vehicle programs.

The European carmaker also pledged to reach net-zero by 2038 through various measures. These include energy efficiency, renewable energies, technological innovations, and carbon capture and storage.

Considering this, it appears that Tesla has to continue its efforts to have more deliveries to its customers and do better in reducing costs.

Still, will Tesla’s carbon reduction initiatives produce more regulatory carbon credits?

Tesla’s Net-Zero Strategy

Tesla’s all-electric car lineup has been helping cut down emissions in the industry. This is a big part of Tesla’s mission to speed up the transition to a sustainable energy ecosystem.

Yet, the carmaker remains less transparent of its decarbonization strategies. It still has not made any public commitment on net-zero or carbon-negative targets.

What is only shared so far is its plans to make EVs more available to consumers by using profits from new models to make subsequent models less costly.

Currently, the carmaker is providing energy generation and storage products using solar power. It also has a network of Supercharger stations for EVs across North America, Europe and Asia. These contribute to Tesla’s regulatory carbon credit generation.

But for its clear and detailed net-zero roadmap like Stellantis has, the public is still waiting for Tesla’s disclosure.

Source: https://carboncredits.com/tesla-regulatory-carbon-credit-sales-jumps-116/

Categories
Carbon News

WINT Launches Solution to Cut Water-Related Carbon Emissions in Buildings

WINT provides water management and leak-prevention solutions to businesses by using AI and IoT. It caters to commercial facilities, construction sites, and industrial manufacturers.

Its solutions are particularly designed to cut carbon emissions, water waste, and water leakage.

Data-Based Application That Cuts Water-Related Carbon Emissions

WINT’s new app will aid firms to reduce their GHG emissions related to water use in buildings.

The new app gives owners, contractors, and managers vital data to track the CO2 impact of their water use. This water-waste and carbon tracking solution goes with WINT’s advanced analytics.

The resulting tool enables users to address water inefficiencies and decrease water waste. Better yet, it limits the negative impact of water supply on the environment.

The launch of this new carbon tracking app is so timely as the world is in a tight battle over climate change.

Companies across the globe have pledged their goals to be carbon net-zero by 2050. Big reductions in CO2 emissions are a must to avoid the worst effects of global warming.

Also, the Securities and Exchange Commission recently released its new rule requiring firms to disclose their GHG emissions.

WINT’s carbon-tracking app allows businesses to manage their water-related carbon emissions. It will also enable them to give stakeholders detailed information about those emissions.

The Need for Buildings to Reduce C02 Emissions

Studies show that there are 60 to 120 pounds of carbon emitted for every 1,000 gallons of water used. This translates to about 7-15 kg for each cubic meter of water.

Moreover, buildings are a primary source of water waste and CO2 emissions. In fact, the building sector contributes a total of 39% (28%+11%) of the annual global CO2 emissions.

The pie chart below represents global CO2 emissions by sector in 2020.

Source: International Energy AgencyAs for its water-related carbon emissions, the building sector also contributes a lot.

For instance, a leaking toilet is approximately losing 1 million gallons of water a year. This results in around 4.5 tons of GHG emissions, which is close to a passenger car’s annual emissions.

Now, research suggests that almost 25% of water in buildings goes to waste. This involves all types of buildings (commercial, residential, and industrial). In this case, the global impact of water-related carbon emissions is so huge.

Water waste can be due to leaks, malfunctions, outdated infrastructure, and human errors.

According to WINT’s chief strategy officer, Yaron Dycan,

“Waste and inefficiency in water supply systems are so significant… But they are often an overlooked source of CO2 emissions.”

Hence, WINT’s data-based tool provides real-time alerts to tackle water inefficiencies and wastes. It does so by integrating the firm’s IoT water-flow analysis devices. It can even shut off water supplies automatically if needed.

As such, it can help owners, developers, and facility managers to cut their water use. And thus, they can also reduce carbon footprint by about 20% – 25%.

The company said that its innovative carbon reporting tool is the first of its kind. And by allowing users to pinpoint waste and keep track of water-related emissions, WINT’s new tool can help meet their carbon goals.

Source: https://carboncredits.com/wint-launches-solution-cut-water-related-carbon-emissions/

Categories
Carbon News

Air Company Raises $30M to Ramp Up its Carbon Conversion Technology

The money lining up to fund early-stage carbon removal technologies is adding up so fast. After the giant tech companies revealed their almost $1 billion fund for carbon removal startups, millions of capital came rushing in.

But what is more interesting is the value created in capturing CO2 and converting it into a product. Just like what Air Company is doing that attracted $30 million capital investment.

Carbon Direct Capital Management led the round along with other venture capital firms. These include Toyota Ventures, JetBlue Technology Ventures, and Parley for the Oceans.

How Air Company’s Carbon Conversion Technology Works

The startup makes carbon-negative alcohols and consumer products out of thin air. It does so through its proprietary technology that transforms CO2 into impurity-free alcohols.

The converted alcohol is then used to make a variety of consumer goods. Some of them are the famous ones like carbon-negative Air Vodka, Air Spray hand sanitizer, and Air Eau de Parfum.

The company is using only three key inputs to create its innovative products – air (CO2), water, and sun. It uses 9% solar energy for the conversion process and 91% wind energy to power its production.

Here’s how Air Company’s carbon conversion technology works:

With its pioneer carbon technology, Air Company made the world’s first alcoholic beverage directly from CO2, Air Vodka.

According to its CEO and Co-founder, Gregory Constantine,

“Our goal is to integrate our carbon technology into every applicable sector to help combat the climate catastrophe… We’ll do this by providing people with a beautiful range of products made from captured CO2.”

Air Company debuted in 2019 and started with its first factory in Brooklyn, New York.

Where Will The Funding Go?

The $30 million growth capital will be for building the Air Company’s third factory. This is to ramp up its carbon conversion technology and CO2-derived alcohol production.

This new state-of-the-art factory will be home for its new commercial-scale carbon technology. By far, it would be the biggest factory to date.

Such scaling up is also part of the firm’s plan to expand into the industrial and aerospace sectors. For instance, it has worked with NASA for space exploration in making sugars and proteins from its CO2-derived alcohols.

Air Company’s pioneering system seems capable of scaling up across industries. If so, its carbon conversion technology can help tackle up to 10.8% of global CO2 emissions. This is roughly more than 4.6 billion tons of CO2 removed and avoided each year.

By using captured carbon and replacing CO2 taken out the ground, Air Company aims to really have an impact in addressing climate change.

By far, Air Company is not the only carbon technology that focuses on how to use captured CO2 to make new products. There are a couple of others, too, recognized by Elon Musk’s $100 million Carbon Removal XPrize.

Examples include SkyNano that is using captured CO2 to make parts of tires and batteries. Another one is DyeCoo that uses reclaimed CO2 to dye textiles, avoiding the use of chemicals.

When these carbon tech startups mature, we can all expect to see a growing sector called “carbon to value”. This space presents a double blow of removing carbon while creating additional value.

And one way to create more value to carbon is by reusing it as an ingredient for materials like cement or consumer goods.

Source: https://carboncredits.com/air-company-carbon-conversion-technology/

Categories
News & Media

Climate Denial: Why it happens and what to do about it

Carbon pollution from burning fossil fuels like coal, oil, and natural gas is warming our planet and driving climate change. It’s throwing natural systems out of balance – to often devastating effect.

These are fairly basic facts. The reality of the human-caused climate crisis is settled science.

But you don’t even need to be a climatologist to know that something is up. From increasingly extreme weather events to record-breaking heat, the evidence of how our climate is changing is right in front of us – all you have to do is look out the window.

Yet, some people still won’t see these signs for what they are.

There are numerous reasons why this is the case. Because climate denial in many cases doesn’t start with what people do or do not believe about the science, per se – but what they believe about themselves and who they are.

We know it can be difficult to hear climate denial and not simply roll your eyes and disregard the individual entirely as too far gone, perhaps even “brainwashed,” so to speak, by years of living in an information or filter bubble, “an environment and especially an online environment in which people are exposed only to opinions and information that conform to their existing beliefs,” according to Miriam Webster.

But that’s exactly the wrong thing to do. Because when it’s coming from someone close to you, your relationship means you can play a key role in opening their mind.

It can be tough to get someone to move past the talking points they’ve heard time and time again. And it doesn’t help that well-funded opposition is poisoning the well with misinformation and outright lies. But the climate crisis is too urgent a problem to let even one person off the hook.

If we are going to win this thing, we’re going to do it together.

Besides, no one is ever too far gone.

WHY WE DENY

Denial is based on one very specific desire – for something to not be true.

“If you’re in denial, you’re trying to protect yourself by refusing to accept the truth about something that’s happening in your life,” the Mayo Clinic writes. “Denial is a coping mechanism that gives you time to adjust to distressing situations — but staying in denial can interfere with treatment or your ability to tackle challenges.”

Bingo.

In the short-term, denial can be a good thing, offering us a period of time to adjust to a difficult or stressful circumstance or learn new information. But when denial progresses, like a tumor, it can become malignant, inspiring people to seek out misleading information that refutes broadly held consensus and supports what they already believe they know.

HEARING WHAT YOU WANT

With denialism pervasive in any number of spaces, it’s valuable to know that, in general, a person’s political, religious, or ethnic identity has been found to impact their willingness to accept an expert’s take on a given issue.

So what happens when scientific consensus conflicts with someone’s established ideological worldview? They don’t want to believe it – and often seek out information to disprove it. And the Internet being the Internet, they often find exactly what they are looking for.

Social scientists have even given the process of deciding what evidence to accept based on the conclusion one prefers a name: “motivated reasoning.”

When people come to a conclusion based not just by examining facts but also driven by an unconscious bias, their view of what’s “true” may be skewed – but it doesn’t make it any less true to them.

>> Click here to learn more about two psychological concepts that help explain why people ignore the science behind the climate crisis. <<

THE MYTH OF DISAGREEMENT

Remember, more than 99% of publishing, peer-reviewed climate scientists agree that our climate is changing, and they know those changes are the result of our burning of fossil fuels for energy.

With that in mind, it’s hard to not believe that those in denial really do know the truth at some level. But what if that fact about overwhelming scientific consensus never reached your ears?

“My fear is that we now live in this hyper-partisan media atmosphere, where people are increasingly sort of syphoned off in silos and they get their information from media outlets that simply reinforce their preconceptions and biases,” Dr. Michael Mann, distinguished professor of atmospheric science at Penn State University and the inspiration for Leonardo DiCaprio’s character in “Don’t Look Up,” the polarizing-if-enormously popular (Ed. note: We loved it.) film about, well, climate denial, told Climate Reality in 2017.

“We have to get past this fake debate about whether the problem exists because that is an unworthy debate, and anyone who adheres to the notion that climate change is a hoax or that it isn’t caused by us or even that it’s not creating problems already is on the wrong side of science and the wrong side of history,” he continued.

But they didn’t get there on their own. A sprawling network of talking heads, “think tanks,” and front groups telling everyone who will listen that they have nothing to worry about helped them along

>> Be Part of the Solution: Four Lessons Psychology Teaches Us About Inspiring Climate Action <<

It’s not easy to shape public opinion when the facts are against you. So, the fossil fuel industry simply began attacking the facts, creating an alternate universe where decades of rising CO2 and rising temperatures had nothing to do with each other and scientists who claimed otherwise were alarmists or had ulterior motives – and were not to be trusted.

As the Washington Post explains, “in the 1990s, oil companies, fossil fuel industry trade groups and their respective PR firms began positioning contrarian scientists such as Willie Soon, William Happer and David Legates as experts whose opinions on climate change should be considered equal and opposite to that of climate scientists.”

Thus, in denial, people find a world where nothing can be taken for granted as true. If “they” – the grand “they” – can’t be trusted and you are being constantly lied to, or at the very least people really aren’t 100% sure about the problem, perhaps there is nothing to acknowledge at all.

“This picture is a bit grim, because it suggests that facts alone have limited power to resolve politicized issues like climate change or immigration policy,” the Conversation writes. “But properly understanding the phenomenon of denial is surely a crucial first step to addressing it.”

Indeed.

WHAT YOU CAN DO

Climate change is already happening. How much the climate warms in the future is up to us. All of us.

Together, we can build pressure on federal officials to take bold climate action, join forces with fellow environmental advocates to work in coalition and win, and make sure all of our voices are heard in demanding a cleaner, greener future.

It Starts with a Conversation

When you talk, your friends and family listen – even (sometimes especially) when they disagree with you. That’s why talking about the facts of the climate crisis is one of the best ways to take climate action.

Whether it’s at the grocery store, after church, or over lemonade at a family picnic, talking about the reality of the climate crisis is your chance to change minds and ensure the people you care about hear the truth.

Give Them The Facts

Climate change can be an incredibly complex, multi-faceted topic. But the basic truths of the crisis – that the science overwhelmingly demonstrates that modern global warming is a man-made phenomenon, for example — are readily accessible to everyone.

So while an advanced science degree isn’t required to share the fundamentals of how climate change works, a commitment to objective facts is.

We mean, the reason we are here is because discussions of climate, even among otherwise rational people, can sometimes become clouded with misinformation, making it more important than ever to first consult evidence-based science.

Climate Reality has created a number of free, easy-to-read informational pieces about the science of climate change and its impacts. Use them to reacquaint yourself with the facts and to brainstorm points of entry for your discussions. The more you know, the better:

  • Extreme Weather and the Climate Crisis: What You Need to Know
  • Beginning the Climate Conversation: A Family’s Guide
  • Climate 101: Weather vs. Climate (fact sheet)
  • The Climate Crisis and Your Health: What You Need to Know

Hope is Key

Denial usually comes from a place of sadness. People turn to it as a last resort. And it can seemingly change the very reality they inhabit.

Plus, it’s easy to despair when it comes to the climate crisis. Trust us – we know. It’s only natural that people would bend over backwards to look the other way.

But accepting the truth of the climate crisis doesn’t mean embracing a future that’s some sort of desert-like dystopia. Because what actually lies head is the opportunity to build a more just and equitable way of life for all of us.

But it won’t happen on its own.

The transition to a just, inclusive, and climate-sustainable economy will create millions of well-paying and safe jobs while improving public health outcomes for all – starting with those most immediately in need of them. It will slow a crisis that is already changing the planet as we know it.

It will give us every reason to celebrate a better tomorrow.

A tomorrow where there will be no reason to hide from the crisis behind denial – because success in the future will depend on how well we stand up to it today.

Join us and tell the full truth about what’s happening to the planet — so we can stop the fake debates and start working on real solutions.

Source: www.climaterealityproject.org/blog/climate-science-denial-why-and-what-to-do-about-it