🌳 Enviro Futures #5

HolonIQ's environment futures coverage for the week ahead.

Our Climate Tech coverage has grown significantly, and due to popular demand, we're splitting it into weekly Energy Futures, Enviro Futures, Infra Futures, and Mobility Futures newsletters over the coming weeks.

This newsletter is 'Enviro Futures,' and you can update your subscriptions to any of the other weekly newsletters here.

Happy Monday 👋

New Zealand's Fonterra is entering the alternative protein market through a new partnership to meet rising demand for plant-based products, a trend also reflected in Norway’s latest dietary guidelines promoting plant-based consumption. In sustainability efforts, India, Australia's AIM, and CSIRO have launched a Climate Smart Agritech cohort within their RISE accelerator to support sustainable agriculture innovations. France will establish the EU’s first onshore CCS facility to help meet climate targets. ADNOC, Petronas, and Storegga are partnering on offshore carbon capture in Malaysia, aiming for 10 million tonnes annually by 2030. The IMF has proposed a higher energy tax on crypto miners to cut global carbon emissions. Fashion and technology are also evolving, with Zara and Circ releasing a second collection of recycled polycotton clothing. In finance, the Canada Growth Fund is allocating $100M to Svante Technologies to boost advancements in carbon capture and removal solutions.

🌱 Food Systems

🌾 Fonterra Expands into Alternative Protein Market. Fonterra, a major dairy cooperative in New Zealand, formed a strategic partnership to enter the alternative protein sector, diversifying its product offerings to meet the increasing demand for plant-based and alternative protein sources.

🌱 Norway's New Dietary Guidelines Promote Plant-Based Foods. Norway updated its dietary guidelines to promote plant-based foods and meat/dairy alternatives, but the guidelines do not address the climate impact of food choices.

🌽 India and Australia Launch Climate-Smart Agritech Accelerator. India's AIM and Australia's CSIRO launched a Climate Smart Agritech cohort as part of their joint RISE accelerator program to support innovations in sustainable agriculture.

🌳 Carbon Markets

🌎 Major Energy Companies Partner on Carbon Capture in Malaysia. ADNOC, Petronas, and Storegga agreed to collaborate on offshore carbon capture and storage in Malaysia, with ADNOC targeting a carbon capture capacity of 10 million tonnes per year by 2030.

🌳 EU's First Onshore Carbon Capture and Storage Facility in France. A carbon removal and storage facility will be built in France, which could play a crucial role in helping the European Union achieve its climate goals.

🌍 IMF Proposes Energy Tax on Crypto Miners to Reduce Carbon Emissions. The International Monetary Fund (IMF) proposed implementing a higher energy tax for crypto miners and data centers to reduce global carbon emissions.

♻️ Circular Economy

🍽️ ADQ Partners with ne'ma to Tackle Food Waste in UAE. ADQ, an Abu Dhabi-based holding company, partnered with ne'ma, a UAE-based company, to support efforts to reduce food loss and waste in the UAE, thereby enhancing the resilience of the local food system.

🌳 Himachal Pradesh to Establish Environmental Cell for Urban Waste Management. The Himachal Pradesh government established an 'Environmental Cell' within the Department of Urban Development to tackle urban waste management challenges. The Chief Minister emphasized the need for sustainable urban solutions.

♻️ Zara and Circ Launch Second Recycled Poly Cotton Range. Zara, a major fashion retailer, and Circ, a company focused on recycling textiles, collaborated to release a second collection of clothing made from recycled textile waste.

💰 Environment Deals

🌳 Canada Growth Fund Invests $100M in Carbon Capture Firm. The Canada Growth Fund invested $100M into Svante Technologies, a Vancouver-based company that provides carbon capture and removal solutions.

🛒 The Rounds raises $24M Series B for reusable packaging grocery delivery. The Rounds, a startup that delivers groceries and household items in reusable packaging, raised $24M in Series B funding.

🍄 UK's Adamo Foods Secures $2.5M Seed Funding for Fungi-Based Meat Alternatives. Adamo Foods, a UK company that creates fungi-based whole cuts as alternatives to animal meat, secured $2.5M in seed funding to scale up production.

🌱 Botanical Solution Inc. Secures Series A Funding. Botanical Solution Inc. (BSI), a company in the environmental industry, announced the closing of a $7.6M Series A funding round.

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