This Week in Cleantech is a new, weekly podcast covering the most impactful stories in cleantech and climate in 15 minutes or less.
This week’s episode features Katie Brigham from Heatmap, who wrote about how climate tech companies are uncertain, but hopeful, of their future under a Trump presidency.
This week’s “Cleantecher of the Week” is Sara Samanieg, Latin America’s first recycling influencer. She has taught people how to sort recyclables and brought attention to Bogotá’s often-overlooked community of recyclers. Congratulations, Sara!
1. What Trump means for Tesla — Fast Company
Elon Musk backed Trump’s presidential campaign, despite Trump’s pledge to pull back support for EVs, including the tax credits for consumers who buy them. Tesla does benefit from these tax credits of up to $7,500, but is not as reliant on them as other EV companies.
Tesla is already profitable, with strong brand value and an established customer base. Some other automakers, such as Ford, have slowed their plans to roll out EVs acter selling fewer than expected. Analysts say Trump’s EV rollback could benefit Tesla’s business because while the total number of EVs sold in the US would drop, Tesla’s market share would increase as competitors struggle with the change.
2. Exxon’s chief has a warning for Republicans — POLITICO
After the election, Exxon CEO Darren Woods urged Trump to avoid major climate policy changes. He argued that the need to address global pollution won’t ever go away, and that Trump’s climate policy changes would just slow us down in the long term.
Specifically, Woods opposes carbon border tariffs, which would impose fees on imports produced with more pollution than in the U.S. He argues this would introduce a whole new level of complexity, and wants to see a regulatory system based on the carbon footprint of products instead.
3. US Unveils Plan to Triple Nuclear Power by 2050 as Demand Soars — Bloomberg
Demand is on the rise for nuclear, especially for Big Tech’s data centers, since it’s a consistent source of carbon-free power. The Biden Administration’s new plan, released Tuesday, involves deploying 200 GW of additional nuclear energy capacity by mid-century through the construction of new reactors, plant restarts and upgrades to existing facilities. The White House also wants 35 GW of new capacity in operation in just over a decade.
This plan might have support from Trump, as he’s called for new nuclear reactors to supply data centers with electricity. Nuclear has built up bipartisan support in recent years, and under Biden the U.S. Nuclear Regulatory Commission has been working to regulate advanced reactors, approve new fuels, and assess manufacturing innovations that could enable faster and cheaper construction.
Watch the full episode on YouTube
4. COP29 host Azerbaijan hits out at West in defense of oil and gas — Reuters
The president of Azerbaijan, host of this year’s COP29, argued that nations “should not be blamed” for having fossil fuel reserves. He also said the US, the world’s largest carbon polluter, and the EU have double standards, urging other nations to phase off fossil fuels when they rely on fossil fuels themselves.
This year’s COP29 focuses on raising billions in climate finance to help fuel the clean energy transition. However, the conference has exposed the tension between rich and developing countries. Many say the wealthiest countries have not done enough to solve a problem that they created, and that the climate impacts are affecting developing nations the most. Development lenders such as the World Bank have been the biggest sources of climate finance for developing countries, but are under pressure to provide more money.
For the rest of COP29, governments will be discussing how they can increase finance to low- and middle-income countries to $120 billion by 2030, a roughly 60% increase on the amount provided in 2023.
5. Climate Tech Companies Plan For Survival Under Trump – Heatmap
Startups fueled by the Inflation Reduction Act may face challenges under a Trump Administration, which seeks to repeal the IRA and cancel unspent funds. But not all startups feel completely doomed. One, they know the industry wants to invest in tech that can compete on market fundamentals alone. Two, the IRA has benefited red states the most.
Many cleantech startups are relying on bipartisan support for tax credits and new project buildout so the market can continue to grow.