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On the need for geoengineering, Britain’s retreat, and Biden’s energy chief
Current conditions: Hurricane Gabrielle has strengthened into a Category 4 storm in the Atlantic, bringing hurricane conditions to the Azores before losing wind intensity over Europe • Heavy rains are whipping the eastern U.S. • Typhoon Ragasa downed more than 10,000 trees in Yangjiang, in southern China, before moving on toward Vietnam.
The White House Office of Management and Budget directed federal agencies to prepare to reduce personnel during a potential government shutdown, targeting employees who work for programs that are not legally required to continue, Politico reported Wednesday, citing a memo from the agency.
As Heatmap’s Jeva Lange warned in May, the Trump administration’s cuts to the federal civil service mean “it may never be the same again,” which could have serious consequences for the government’s response to an unpredictable disaster such as a tsunami. Already the administration has hollowed out entire teams, such as the one in charge of carbon removal policy, as our colleague Katie Brigham wrote in February, shortly after the president took office. And Latitude Media reported on Wednesday, the Department of Energy has issued a $50 million request for proposals from outside counsel to help with the day-to-day work of the agency.
At the Heatmap House event at New York Climate Week on Wednesday, Senate Minority Leader Chuck Schumer kicked things off by calling out President Donald Trump’s efforts to “kill solar, wind, batteries, EVs and all climate friendly technologies while propping up fossil fuels, Big Oil, and polluting technologies that hurt our communities and our growth.” The born and raised Brooklynite praised his home state. “New York remains the climate leader,” he said, but warned that the current administration was pushing to roll back the progress the state had made.
Yet as Heatmap’s Charu Sinha wrote in her recap of the event, “many of the panelists remained cautiously optimistic about the future of decarbonization in the U.S.” Climate tech investors Tom Steyer and Dawn Lippert charted a path forward for decarbonization technology even in an antagonistic political environment, while PG&E’s Carla Peterman made a case for how data centers could eventually lower energy costs. You can read about all these talks and more here.
Nearly 100 scientists, including President Joe Biden’s chief climate science adviser, signed onto a letter Wednesday endorsing more federal research into geoengineering, the broad category of technologies to mitigate the effects of climate change that includes the controversial proposal to inject sulfur dioxide into the atmosphere to reflect the sun’s heat back into space. In an open letter, the researchers said “it is very unlikely that current” climate goals “will keep the global mean temperature below the Paris Agreement target” of 1.5 degrees Celsius above pre-industrial averages. The world has already warmed by more than 1 degree Celsius.
Earlier this month, a paper in the peer-reviewed journal Frontiers argued against even researching technologies that could temporarily cool the planet while humanity worked to cut planet-heating emissions. But Phil Duffy, Biden’s former climate adviser, said in a statement to Heatmap that the paper “opposes research … that might help protect or restore the polar regions.” He went on via email, “As the climate crisis accelerates, we all agree that we need to rapidly scale up mitigation efforts. But the stakes are too high not to also investigate other possible solutions.”
President Trump and Prime Minister Keir Starmer. Leon Neal/Getty Images
UK Prime Minister Keir Starmer plans to skip the United Nations annual climate summit in Brazil in November, the Financial Times reported on Wednesday. He will do so despite criticizing his predecessor Rishi Sunak a few years ago for a “failure of leadership” after the conservative leader declined to attend the annual confab. One leader in the ruling Labour party said there was a “big fight inside the government” between officials pushing Starmer to attend the event those “wanting him to focus on domestic issues.”
Polls show approval for Starmer among the lowest of any leaders in the West. But he has recently pushed for more clean energy, including signing onto a series of nuclear power deals with the U.S.
The Tennessee Valley Authority has assumed the role of the nation’s testbed for new nuclear fission technologies, agreeing to build what are likely to be the nation’s first small modular reactors, including the debut fourth-generation units that use a coolant other than water. Now the federally-owned utility is getting into fusion. On Wednesday, the TVA inked a deal with fusion startup Type One Energy to develop a 350-megawatt plant “using the company’s stellarator fusion technology.” The deal, first brokered last week but reported Tuesday in World Nuclear News, promises to deploy the technology “once it is commercially ready.” It also follows the announcement just a few days ago of a major offtake agreement for fusion leader Commonwealth Fusion Systems, which will sell $1 billion of electricity to oil giant Eni.
Climate change is good news for foreign fish. A new study in Nature found that warming rivers have brought about the introduction of new invasive species. This, the researchers wrote, shows “an increase in biodiversity associated with improvement of water in many European rivers since the late twentieth century.”
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It all happened today at Heatmap House, part of New York Climate Week.
If you’ll allow us to toot our own horn for a moment, Heatmap House — our first-ever daylong series of panels with the most influential voices in climate, clean energy, and sustainability, part of New York Climate Week — had everything. Senator Chuck Schumer kicked things off with an emphatic call to action for climate advocates at the top of the day. Then a series of industry leaders in clean energy manufacturing gave us a forecast for the future of American decarbonization, followed by investors and technologists including Tom Steyer and Dawn Lippert telling us how exactly we might find the funding for that future.
Here’s a quick recap, in case you weren’t able to make it out to New York City for the event. Our first session of the day, “The Big (Green) Apple,” centered on New York’s efforts to future-proof the state. Schumer began the day with what my colleague Katie Brigham described as a “rousing condemnation of the Trump administration’s climate policies and a call to action for climate advocates everywhere.”
“New York remains the climate leader, but Donald Trump is doing everything in his power to kill solar, wind, batteries, EVs and all climate friendly technologies while propping up fossil fuels, Big Oil, and polluting technologies that hurt our communities and our growth,” Schumer said.
Among the various sessions that followed, Heatmap’s Emily Pontecorvo spoke with Uchenna Bright, a commissioner on the New York State Public Service Commission, about New York’s evolving energy system and how to keep it affordable for New Yorkers. Later, Emily spoke with Elijah Hutchinson of the NYC Mayor’s Office of Climate and Environmental Justice about the city’s specific climate goals, and how those are inextricably tied with advancing equality for all the city’s residents.
Other speakers from the morning session included Andrew Bowman, CEO of Jupiter Power, and Jon Powers, co-founder of CleanCapital, who spoke with Heatmap’s Matthew Zeitlin about the nuts and bolts of power generation. Meanwhile Ben Furnas, executive director at Transportation Alternatives, emphasized the importance of clean, efficient ways of getting around the city in conversation with executive editor Robinson Meyer.
Our midday session, “Built to Scale,” was a lesson in pragmatism. Senator Brian Schatz of Hawaii, along with other clean energy voices including Ricardo Falu, chief operating officer at AES, argued that the global fight to decarbonize is going on with or without the United States. “It is best for people to operate under the assumption that the United States, at least for the next three years, will be a destructive force on collective climate action,” Schatz said to Rob.
Falu, whose company has succeeded in getting clean energy projects off the ground abroad, concurred. “In Chile, we pay 12 cents for a solar panel. Here in the U.S., it’s 36 to 37 [cents]. Why is that?” he said in conversation with Emily. “In many other countries, you don’t need incentives for renewables. They are competitive.”
But many of the panelists remained cautiously optimistic about the future of decarbonization in the U.S. These included Jake Oster of Amazon, who told Katie that energy efficiency is at the forefront of Amazon’s data center growth efforts. Carla Peterman, chief sustainability officer of PG&E, told my colleague Matthew Zeitlin that she was confident data center demand will eventually bring down electricity rates for consumers. Other speakers highlighted the need for clarity from lawmakers in order for clean energy projects to advance, including Julien Dumoulin-Smith of Jefferies, who talked to Matthew about the clean energy financing equation.
Our final session of the night, “Up Next in Climate Tech,” focused on the future of climate tech investment. Climate investor and philanthropist Tom Steyer sat down with Rob to discuss what needs to happen for climate innovation to finally achieve deployment. Steyer is confident that a “huge, powerful wave” is still driving renewable energy.
“For the people who never look at the numbers, for the people who don’t pay attention to actual investment decisions, costs, profit margins, you can say whatever you want. But I’ll tell you this: The rig count is down 10% to 20% in 2025 in America,” Steyer said.
Dawn Lippert, CEO of Elemental Impact, then talked with Rob about the biggest potential challenge facing renewables deployment, even in the face of such unstoppability — that is, “bankability,” otherwise known as the “missing middle” in climate tech investment.
“It takes quite a lot of capital, and there’s no one to hand it out on the financial infrastructure side. They’re not ready for infrastructure investors. They’re definitely not ready for banks,” Lippert said.
Rounding out our last session were Christian Anderson, co-founder of the carbon accounting platform Watershed, and Rick Needham, chief commercial officer of Commonwealth Fusion, who discussed what makes a climate tech unicorn with Katie. Sublime Systems CEO Leah Ellis, whose company makes low-carbon cement, and Microsoft’s Katie Ross, talked with Emily about how their companies are partnering up to produce low-carbon cement.
The bottom line? Circumstances for clean energy deployment may be particularly tough at the moment, but there are thousands of creative people finding innovative ways to reach our decarbonized future.
The current policy environment “doesn’t mean that collective climate action can’t continue,” said Schatz. “It doesn’t mean that American companies, American governors, American nonprofits, American journalists, can’t be part of this whole movement to solve this generational challenge.”
At Heatmap House’s third session of the day, “Up Next in Climate Tech,” investors Tom Steyer and Dawn Lippert chart a path forward for the clean energy economy.
Tom Steyer is still riding the wave.
The climate investor and philanthropist told the audience at Heatmap House’s third session of the day, “Up Next in Climate Tech,” that he started his investment firm Galvanize in 2021 because “there’s a huge, powerful wave behind us.” And now, after the One Big Beautiful Bill Act and the Trump administration’s regulatory assault on renewables? “Does any of that change? No, it’s better,” Steyer said.
Steyer was skeptical that the oil and gas industry could ultimately compete with clear energy, even with the current administration’s support.
“For the people who never look at the numbers, for the people who don’t pay attention to actual investment decisions, costs, profit margins, you can say whatever you want. But I’ll tell you this: The rig count is down 10% to 20% in 2025 in America. That’s a statement about future profitability” of the oil industry Steyer said, pointing to declining domestic drilling.
For Steyer, the math is simple. A huge portion of demand for oil comes from the transportation sector, and the movement towards electric vehicles is “unstoppable.”
“We’re talking about a commodity with a worldwide price where we’re the biggest producers of oil in the world,” Steyer said. He noted that the U.S. is also the “high-cost producer” compared to countries like Saudi Arabia, which can produce oil more cheaply than in the U.S. shale patch.
So if there’s such a huge market opportunity for clean energy businesses, can they get funded? That’s the challenge fellow investor Dawn Lippert is trying to solve. Lippert is the founder and chief executive of Elemental, a non-profit climate investment firm. The trick she’s trying to perfect is to attract investors beyond the specialized, earlier stage investor group that typically seeds decarbonization, who can fund actual, steel-in-the-ground projects.
“We are trying to finance the energy transition with venture capital,” referring to the broader financing community. “It’s a total mistake.”
Venture capital has catalyzed “a huge wave of technology, invention, and technologies that are really working,” Lippert added. What’s happening now is that those companies are “trying to deploy, they’re trying to build their first plants, trying to build their second plants. It takes quite a lot of capital, and there’s no one to hand it out on the financial infrastructure side. They’re not ready for infrastructure investors. They’re definitely not ready for banks.”
This problem of “bankability,” or the “missing middle,” has bedeviled the climate tech sector for years, as technologically innovative energy projects struggle to get funding from infrastructure investors who want projects that can produce predictable cash flows, not risky venture-stage experiments.
Elemental developed an investment vehicle called a D-SAFE — a.k.a. a Development Simple Agreement for Future Equity — to help solve this problem. The D-SAFE is an investment agreement that can unlock future investment by pointing investment directly at development costs. “A development SAFE says, I’m going to give you dollars, and I’m going to get those dollars back when you hit specific milestones,” Lippert said.
So far, Elemental has done nine D-SAFEs. “We’re trying to create much simpler financial infrastructure so that financial innovation can catch up to where technology innovation is, and we can stop slowing things down,” Lippert said.
The challenge for American climate technology and infrastructure companies will be to compete with state-supported Chinese businesses, Lippert said. “China actually does have a very methodical way of putting a ton of state capital into these companies to get them all the way through. We don’t have that in this country, so we have to be much more creative and make sure that companies where technology is working are not falling into a scale gap just because we can’t get our act together.”
At Heatmap House’s second session, speakers including Senator Brian Schatz of Hawaii looked overseas to spot the clean energy future.
None of the speakers at Heatmap House’s second session at New York Climate Week, “Built to Scale,” minced words when it came to describing the current U.S. policy environment. The global fight to decarbonize is still happening, our guests emphasized — but it might happen without the U.S.
Senator Brian Schatz of Hawaii emphasized in his discussion with Heatmap’s Robinson Meyer that in previous years, he would assure his international colleagues that the U.S. was still fully invested in the climate fight. What about now? “I would say we will be back — but do not wait for us,” Schatz said.
Ricardo Falu, executive vice president and chief operating officer at AES corporation, touched on a similar point while speaking with my colleague Emily Pontecorvo. His company, which invests in clean energy projects in addition to natural gas at home and abroad, has found particular success in Chile, where the regulatory environment has proved especially fruitful for renewables. “In many other countries, you don't need incentives for renewables. They are competitive,” Falu pointed out. “You don’t need the government financing or the government to be involved.”
This isn’t to say that there’s no hope whatsoever for climate progress in the U.S., our speakers made sure to highlight. We might just have to refrain from calling it “climate progress.” Schatz pointed out that the language of affordability will come to define clean energy projects moving forward, echoing what Senator Chuck Schumer said earlier in the day. “Cheap is clean, and clean is cheap,” said Schatz. “We don't have to make a complicated argument.”
This framing from Schatz and Schumer makes perfect sense in the context of the new package of energy proposals from House Democrats announced this morning, fittingly called the Cheap Energy Act. As my colleague Robinson wrote today, “Democrats have reoriented to talking about energy chiefly as an affordability problem.” Schatz summed up the strategy thusly: “We have to just say, ‘See that spike in electricity prices? It’s their fault. Solar is cheap.’”
Data centers and the rapid growth of AI were also top of mind for panelists. The tension between AI growth objectives and renewables didn’t seem to be an issue, however. Rather, our speakers pointed out, data center growth could be an opportunity to invest in a stronger renewables rollout. Jake Oster, director of sustainability at Amazon, told Heatmap’s Katie Brigham that “the first thing we're focused on is energy efficiency in our facilities.”
Carla Peterman, executive vice president at PG&E, was even more unequivocal in her support. “We know that our communities, our society will benefit from having that load and having those data centers,” she remarked. “We don’t want to block bringing them on.”