⛰️ Enviro Futures #13

Happy Monday 👋

Worsening extreme climate changes and geopolitical events have exacerbated food insecurity in the world as the global food price index reached a record high according to the Food and Agriculture Organization. The Omani government signed contracts worth $16M to enhance the sustainability of agriculture in the region as global heat reaches record levels. Another analysis by the World Resources Institute (WRI) highlights that increasing threats, including climate change and resource depletion, are jeopardizing water availability. This, in turn, endangers global food security, as one-quarter of the world's crops are cultivated in regions facing significant water supply risks. This week, Algeria, facing severe drought conditions, unveiled a $5.4B plan to produce drinking water from the sea, seeking renewable energy solutions. Amidst allegations of fraud and accusations of greenwashing leveled against the carbon offset market, Meta pledged to contract at least $35 million for carbon removal projects within the next year in response to the U.S. Department of Energy's CO2 removal challenge. 

🌱 Food Systems

🌍 Climate Change and Wars Drive Global Food Prices to Record Highs. The global food price index reached a record high due to the worsening of extreme climate changes and geopolitical events, according to the Food and Agriculture Organization of the United Nations (FAO).

🌾 Oman boosts agriculture sector with $15.5M contracts. The Omani government signed contracts worth $16M to support the agricultural sector in the Dhofar governorate. The contracts aim to enhance the sustainability of agriculture in the region.

🌾 England suffers one of its worst harvests on record due to climate change. England experienced one of its worst harvests on record, with key crops like wheat, barley, and oilseed rape severely impacted by record winter rainfall attributed to climate change.

🌊 Oceans and Water

🌎 Quarter of World's Crops Threatened by Water Supply Risks. A new analysis by the World Resources Institute (WRI) warns that growing risks such as climate change and resource scarcity are threatening water supplies, and ultimately food security for a quarter of the world's crops grown in areas threatened by water supply risks.

🌊 Severe Flooding Displace Millions in Kogi, Nigeria. Severe flooding in Kogi State, Nigeria displaced nearly 2 million people and submerged over 200 communities as of October 14, 2024.

💧 Drought-Hit Algeria's $5.4 Billion Plan to Produce Drinking Water From Sea. Algeria, facing drought conditions, unveiled a $5.4 billion plan to produce drinking water from the sea and seek renewable energy solutions.

♻️ Environmental Services

🌍 UN: Southern Africa faces worst hunger crisis in decades due to El Niño. Five countries in Southern Africa - Lesotho, Malawi, Namibia, Zambia, and Zimbabwe declared national disasters due to severe drought and hunger caused by the El Niño weather phenomenon.

🌳 Meta Pledges $35M for Carbon Removal Projects. Meta pledged to contract at least $35 million for carbon removal projects, within the next year, in response to the U.S. Department of Energy's CO2 removal challenge.

🌍 Egypt and Greece Explore CCS and Green Hydrogen Cooperation. The Minister of Petroleum and Mineral Resources of Egypt and Greece held talks on bilateral cooperation in carbon capture and storage (CCS) and green hydrogen projects, signaling a new phase in Egyptian-Greek energy relations.

🐟 Forestry and Fishing

🌲 Long recovery awaits Helene-damaged national forests. Flooding triggered landslides that changed the landscape of western North Carolina's Pisgah National Forest.

🌳 Timber Risks Losing Global Battle for Land. Researchers have outlined a 'worst-case' scenario where deforestation occurs as land is increasingly used for food production instead of timber.

🌲 Save the Redwoods League Acquires 750 Acres for Future Parks Expansion. Save the Redwoods League, a non-profit organization, purchased 750 acres of redwood forest land from private landowners in Sonoma and Mendocino counties, California, intending to add it to existing state natural reserves.

💨 Air Quality

☠️ Coal Plants Causing Health Crisis in Southeast Asia. Coal-fired power plants in Southeast Asia are causing a health crisis due to fine particle pollution, leading to millions of premature deaths annually.

⚖️ Hawaii Court Rules Greenhouse Gases as Pollutants, Insurers Liable for Climate Litigation Costs. The Hawaii Supreme Court ruled that greenhouse gases are pollutants, allowing insurers to be held liable for costs related to climate change litigation. This is the first time a state supreme court has recognized greenhouse gases as pollutants.

🌀 Climate Change Drives Rise in 'Christmas Typhoons' in the Philippines. A report from the Philippine Climate Change Assessment reveals a significant increase in 'Christmas typhoons' and tropical cyclone-induced rainfall in the Philippines over recent decades due to human-induced climate change.

💰 Environment Deals

🔥 German startup OroraTech raises $32 Million to scale wildfire early warning system. Munich-based startup OroraTech secured $32 million in funding led by Korys, the investment arm of the Belgian Colruyt family, to scale up its AI-powered wildfire detection system.

🌱 Scope3 Raises $25 Million in Funding for Sustainability Platform. Scope3, a New York City-based company providing a collaborative sustainability platform for decarbonizing media and advertising, raised $25 million in funding.

💰 NYC Cacao Brand Blue Stripes Raises $20M Series B. Blue Stripes, a cacao brand based in New York City, raised $20 million in Series B funding.

🌳 $11.2 Million Seed Round for AirForestry's Fossil-Free Aerial Forestry. AirForestry, a company developing aerial tree planting technology, has raised $11.2 million in a seed funding round to support its fossil-free aerial forestry operations.

🌱 Algiecel raises $7 Million for microalgae technology. Algiecel, a Danish bio solutions company, raised $7 million to scale up its microalgae-based technology that utilizes CO2 and biology to serve the feed and food industries.

Thank you for reading. Have a great week ahead!
Have some feedback or suggestions? Let us know at hello@holoniq.com