Decarb Weekly, by Industria Partners, is a collection of articles focusing on trends and transactions in industrial decarbonization and climate tech.
Chart of the Week:
Fossil fuel subsidies topped $7 trillion last year – IMF
Recent Market News:
- The US Department of Energy is dedicating $15.5 billion to support EV manufacturing, battery production, and to bolster the nation’s grid.This is the second tranche of funding for battery materials and manufacturing that the DOE has made available. – TechCrunch
- Exxon Mobil reported that based on its current track, the world will not reach its goal of limiting the planet’s temperature from rising beyond an increase of 2 degrees Celsius by 2050. – Seeking Alpha
- Protecting Earth’s diversity of plants and animals has a direct bearing on the economy: around half of global output—some $44 trillion—is dependent on nature, according to research from the World Economic Forum. Biodiversity credits could be key to funding the conservation of the Earth’s ecosystems. – WSJ
- Brazil’s state-controlled oil firm, Petrobas, is making its debut into the voluntary carbon market, announcing that it has purchased credits from a project dedicated to saving the Amazon rainforest. – Bloomberg Law
- 9/5/23: Okra Solar, a provider of mesh-grid solar for developing areas, has raised $12 million in Series A funding. – TechCrunch
- 9/5/23: Opna, formerly known as Salt, has secured a $6.5 million seed round to rebuild trust in the voluntary carbon markets. Opna offers a platform that allows corporates to discover carbon projects, facilitates financing, and allows firms to oversee these financed climate initiatives. – FinTech Global
Industria Partners provides focused strategic advisory services to industrial, climate, infrastructure, and energy companies at every point across the business cycle. Through industry connectivity, transaction experience, and expert execution, Industria delivers superior outcomes to its clients.