🏡 Australia Joins the Team
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🏡 Australia Joins the Team
Not as much construction as the industry faces headwinds... slowdown in investment across the board has lead to slowdown in proptech...
⚠️ NEWS ALERT! (not really)
There has been significant slowdown across the entire market… surprise, surprise. Obviously, as the overall economy continues to see red hot inflation and other market headwinds in the year ahead, growth has significantly slowed throughout the sustainable development and green prop tech industries.
Today’s newsletter will take ~ 2.5 minutes
Trends
🧮 The Great PropTech Re-Valuation
Well the prop-tech industry has not been spared by the downtrend in the markets as of late. With the extra liquidity in the financial system in the last few years, valuations across VC and private equity skyrocketed, with investors constantly eager to throw money at the latest and greatest startups. With the fed hiking rates, causing investors to quite literally revalue portfolio companies, capital allocators are getting reluctant to invest in new ventures, drain up the same pockets that were eager to throw money at new projects just last year. PropTech, however, may be disproportionately affected due to the compounding nature of raised fed rates on real estate development in tandem with valuations. This not only decreases their ability to take out debt, but prevents the companies from engaging customers due to lack of development.
Deals & Developments
🧱 Converting a Century-old House to Net Zero
For Vanessa Bertelli, climate change is personal. Not because it’s directly affected her yet, but because she knows it will affect her children in years to come. So, Vanessa and her family embarked on a journey to convert their nearly 100 year old home to net zero. It was no small feat, but two years later, she tells the story of how she did it.
Worth noting: she embarked on this journey long before the IRA was passed, which would have enabled her to receive numerous addition tax incentives and rebates.
Technology
📱 Samsung Announces Net Zero Strategy
The South Korean tech giant will invest $5 billion USD by 2030 to achieve carbon neutrality by 2050. Yes, this lags behind the Paris agreement, however, considering the technology industry is one of the most difficult industries to convert to net zero, this announcement marks a significant step for the industry as a whole as the company is only the third behind Apple and Intel to make the ambitious goal. In order to achieve this goal, Samsung will not only work on further recycling of materials, but focus its efforts on new carbon sequestration techniques during chip production.
Legislation
🇦🇺 Australia Finally Sets Emissions Goal
Years after other developed companies committed to net-zero goals, Australia has instituted new goals to slash emissions by 43% by 2030 and achieve net zero by 2050. The new Labor Party that took power in May helped to push the legislation through with support from the Greens Party and independents, helping to move Australia forward with their new position on climate change.
Quick Takes
🛟 Tokyo’s Proposed Floating City Extension
👑 King of the Climate, King of the Climate
Fact for Thought
A team from the Eindhoven Univeristy of technology in the Netherlands have developed an electric car that “cleanses” the air of CO2 as it drives, ridding the environment of the pollutant. Could this be the future of commuting?
Let us know how we’re doing! Drop a comment!