š” They are listening...
The SEC proposed sweeping reporting reform, what will it look like for owner operators...
Goooooooddd morning!
In last weekās newsletter, I mentioned how the vast majority of US companies are inadequately measuring their climate and decarbonization metricsā¦ A little under two hours after last weekās post, the SEC moved to enact a sweeping reform for how public companies track their climate impact. This just goes to show people are listening - read on for more detailā¦
Todayās newsletter will take ~ 3.5 minutes
Trends
WeWork and Oatly are partnering with cities across the US to award office space to startups focusing on sustainability
If you read our newsletter last week, Londonās Net Zero Technology Centre is offering grants from their Ā£10 million fund if your startup is working in the sustainability space. Now WeWork is incentivizing entrepreneurs to focus on their climate-friendly startups too, offering awards of free office space if your company wins their one of their Sustainability Series competitions.
Deals & Developments
Madison International Realty laid out plans to invest over Ā£1 billion for the net-zero 105 Victoria St in London
The project will offer over 470,000 SF of office space with additional retail offerings and amenities including a rooftop farm, green terraces, and running circuit
Technology
Bill Gatesā-backed Heirloom Carbon raised a $53 million Series A for their carbon sequestration technology
The technology uses ācarbon mineralization,ā a naturally occurring process, to capture CO2 and create a byproduct that can be used to create building materials.
Note: Carbon sequestration is the primary way companies can offset their carbon footprint and help countries adhere to their climate goals.
Legislation
The SEC proposed strict climate reporting across public companies
In what is likely to be one of the most stringent rules the agency has ever put forward, making companies liable for āmisguiding investorsā if they happen to accidentally start a wildfire.
The proposal would also mandate the direct tracking of all greenhouse gas emissions attributable to the operation of their companies.
One of the motives behind the proposal is the growing financial risk caused by climate change
Also of note: companies that consider themselves ānet-zeroā will have to officially disclose their scope 3 emissionsā¦
Fact for Thought
E-bike sales are BOOMING. Dutch manufacturer VanMoof has sold double their projections over the last month.
Let us know how youāre going to use Heirloom and the new SEC rules to your advantage - the time to position yourself as a sustainability leader in the RE sector is now. Drop a comment to let us know how we are doing!