Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Culture

March Was Way Too Warm

On record-breaking heat, a landmark climate case, and meteorites

March Was Way Too Warm
Heatmap Illustration/Getty Images

Current conditions: Hundreds of flood warnings are in effect for the U.K. • Schools in Cape Town will reopen after the passage of a severe storm • The weather will be “relatively quiet” across most of the U.S. for the next couple of days.

THE TOP FIVE

1. March sets another alarming temperature record

March was the 10th consecutive month of record-high temperatures on Earth, Europe’s Copernicus Climate Change Service (C3S) reported today. The global average temperature for the month was 57.9 degrees Fahrenheit, which is about 3 degrees warmer than the pre-industrial March average. Over the last 12 months, global temperatures have been 1.58 degrees Celsius higher than pre-industrial averages, above the 1.5 Celsius warming threshold scientists worry could trigger dramatic and irreversible climate damage. Sea surface temperatures also remained alarmingly high, averaging 69.93 degrees Fahrenheit, “the highest monthly value on record.”

C3S

C3S deputy director Samantha Burgess didn’t mince words: “Stopping further warming requires rapid reductions in greenhouse gas emissions,” she said. Woodwell Climate Research Center scientist Jennifer Francis echoed that sentiment: “The trajectory will not change until concentrations of greenhouse gases in the atmosphere stop rising, which means we must stop burning fossil fuels, stop deforestation, and grow our food more sustainably as quickly as possible.”

2. European court says government inaction on climate change threatens human rights

The European Court of Human Rights handed down a landmark decision this morning that could ramp up legal pressure on governments to do more to limit global warming. The lawsuit was brought by a group of more than 2,000 older Swiss women who argued Switzerland had violated their human rights by failing to do its part to stop climate change. Older women are more likely to die from extreme heat, and the group said they suffer severely during Swiss heatwaves. The court agreed with them, saying Switzerland hadn’t done enough to meet its emissions reduction targets. The verdict “opens up all 46 members of the Council of Europe to similar cases in national courts that they are likely to lose,” explained The Guardian. “We expect this ruling to influence climate action and climate litigation across Europe and far beyond,” said Joie Chowdhury, an attorney at the Centre for International Environmental Law campaign group. The case was one of three climate suits the court was considering – it threw out the other two.

3. Zurich to stop underwriting new fossil fuel projects

Zurich Insurance Group will stop underwriting new oil and gas projects in pursuit of reaching net zero by 2050, Bloomberg reported. The insurer will also pressure its existing corporate clients to curb emissions. “Further exploration and development of fossil fuels isn’t required for the transition,” Sierra Signorelli, chief executive of commercial insurance at Zurich, told Bloomberg. “We think it’s the right time to evolve our position.” The insurer says the policy shift only applies to new oil and gas projects and not existing ones. It will urge all oil and gas customers to set interim emissions targets and put together 2050 net zero plans that are credible, “not just a PowerPoint presentation.”

4. Tesla settles wrongful death suit before trial

Tesla reached a settlement with the family of a man who was killed in a 2018 car crash involving the company’s Autopilot feature. The wrongful death lawsuit was set to go to trial this week. The terms of the settlement were not disclosed. This isn’t the only lawsuit Tesla faces over its Autopilot driver assistance technology. “Every plaintiff’s lawyer that has one of these cases will be watching,” Matthew Wansley, associate professor at Yeshiva University’s Cardozo School of Law, said before the settlement was announced. “I think Tesla didn’t want all the bad publicity and all the information that would have come out of the trial,” wrote Fred Lambert at Electrek.

5. Study: Climate change threatens Antarctica’s meteorites

Antarctica is pockmarked with meteorites: More than 60% of all these small space rocks ever discovered on Earth have been found on the ice sheet, with about 1,000 collected each year for the last decade. Meteorites are valuable scientific resources, offering researchers a wealth of information about our solar system. But a new paper published in the journal Nature Climate Change explains that warmer temperatures brought on by climate change are causing the meteorites to sink into the ice sheet, where they are lost to science.

Scientists carve out a meteorite submerged in the ice.Steven Goderis, Vrije Universiteit Brussel

José Jorquera (Antarctica.cl), University of Santiago, Chile.

The study estimates the ice surface contains between 300,000 and 850,000 meteorites waiting to be collected, but says 24% of them will be lost by 2050 under current warming conditions, and for every tenth of a degree of increase in global air temperature, an average of nearly 9,000 meteorites will disappear. “The loss of Antarctic meteorites is much like the loss of data that scientists glean from ice cores collected from vanishing glaciers,” said Harry Zekollari, a co-author on the study. “Once they disappear, so do some of the secrets of the universe.”

THE KICKER

Keegan Barber/NASA via Getty Images

“The eclipse is a really cool celestial event that hopefully can inspire people to see that there’s a lot of beauty in this universe. I hope it can inspire people to protect what we have.”Michael Greenberg, co-founder of Climate Defiance


Yellow

You’re out of free articles.

Subscribe to access Heatmap’s expert analysis of climate change, clean energy, and sustainability. Save $57 on an annual subscription, just $156 $99/year.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
AM Briefing

Uncommon Wealth

On ‘precariously low’ oil stockpiles, China’s ammonia milestone, and a PFAS destroyer

Commonwealth Fusion Systems’ Big Raise
Heatmap Illustration/Getty Images

Current conditions: The wildfires in France and Europe are slowing, but three firefighters have died and the looming heat wave could bring yet more disaster • New York and New Jersey are facing flash floods as a storm system makes its way across the Northeast United States • Days of thunderstorms are causing floods across Vientiane, Laos’ sprawling capital.

THE TOP FIVE

1. Commonwealth Fusion Systems raises another $1 billion

Last month, I toured Commonwealth Fusion Systems’ headquarters in small-town central Massachusetts. The place was abuzz in activity. On the factory floor side, workers were assembling the magnets needed to ultimately form the torus-shaped reactor — think a giant doughnut with an interior that curves like the core of an apple — called the tokamak. On the actual reactor side, SPARC — the prototype that CFS expects will make history next year as the first private enterprise and only tokamak to ever generate more energy that it took to start the fusion reaction — was starting to look like a functional machine from my view on a second-story walkway overlooking the sterile assembly room. The old joke that fusion is the energy source of tomorrow — and always will be — certainly didn’t ring as funny now. I’ll tell you who isn’t laughing: All the new investors that just poured another $1 billion into CFS. The company announced its latest funding round early this morning, which brings the startup’s total fundraising since its launch as a spinout from the Massachusetts Institute of Technology in 2018 to $4 billion. CFS now accounts for 30% of all the private capital that has flowed into fusion. What distinguishes this round, my colleague Katie Brigham wrote, is that the money is coming from a bunch of institutional investors, such as pension funds and sovereign wealth funds, rather than venture capitalists. On a call with reporters this week, CFS’s newly-named chief financial officer, Lorence Kim, said it’s the first-time institutional investors comprised the majority of the new funding. When I asked the company’s spokeswoman for a percentage estimate breaking down the new versus old investors in this round, she declined to comment. Kim cautioned that the funding isn’t the kind of capital you raise before launching on a stock market. But his hire is notable. The former Goldman Sachs banker famously helped take the pharmaceutical giant Moderna public and held the top financial role through the start of the Covid-19 pandemic.

Keep reading...Show less
Yellow
Energy

Commonwealth Fusion Systems Wins Over New Class of Investors With $1 Billion Raise

Risk-averse but deep-pocked institutional investors join the party.

Commonwealth Fusion Systems Wins Over New Class of Investors With $1 Billion Raise

When the Fusion Industry Association surveyed the sector earlier this month, it found that the industry’s 56 active companies had collectively raised more than $14.2 billion over the past five years. But an ever-larger share of that money is ending up in the hands of one startup: Commonwealth Fusion Systems.

With its latest $1 billion funding round, announced today, the MIT spinout now accounts for nearly 30% of all capital in the industry. The new financing, led by a wave of institutional investors entering the sector for the first time, will support construction of the company’s first commercial power plant in Chesterfield County, Virginia, which CEO Bob Mumgaard says is on track to come online in the early 2030s.

Keep reading...Show less
Daily Briefing

Meta Down, Permitting Odds Up

At least one hyperscaler’s big bets seem to be paying off.

Circles.
Unsplash

This is an edition of Heatmap Daily, an evening review of the day’s news written by our executive editor. Sign up for it here.

Good evening. Let’s start with the news. Meta and Microsoft released their most recent quarterly earnings this evening, and Wall Street was watching to figure out if their enormous AI spending plans are paying off. We were watching because those proposals are shaping one of the most important energy stories today: the data center boom and the sharp return of electricity demand.

Keep reading...Show less