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Tag: green entrepreneur

  • Green Corridors Are a Solution to the Shipping’s Pollution Problem | Entrepreneur

    Green Corridors Are a Solution to the Shipping’s Pollution Problem | Entrepreneur

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    A recent article in Financial Times had some bad news for the fight against climate change – the goals set by the Paris Climate Accord seem increasingly unachievable. The good news is that there are still changes that can help.

    In recent years, decarbonization has become a global imperative. Climate change is an increasingly urgent issue affecting several sectors and industries worldwide, government bodies, businesses, and modern society.

    The reduction of carbon emissions is at the forefront of many initiatives to counteract a catastrophic rise in global temperatures. One of the biggest focuses has been on looking toward low-carbon energy sources. Low-carbon energy sources currently account for 19% of all energy, but that figure is growing as decarbonization becomes a greater priority. Also known as greenhouse gas emissions, the elimination of carbon emissions or decarbonization is an area in which several major industries have a significant role to play.

    Globally, many industries and sectors are making an effort to decarbonize. However, progress must be made in particular industries, such as the maritime sector, which boasts long asset lifespans and a high dependency on fossil fuels, to achieve a global goal of net-zero emissions.

    Although most of the maritime industry is now committed to decarbonization, the sector has a long way to go. This is because the environmentally sustainable fuels needed to power the industry’s infrastructure, including more than 60,000 ocean-going vessels, are still being researched and developed. Until then, the maritime sector must find alternative methods to decarbonize.

    So how can the maritime industry begin decarbonization? And what is decarbonization for eco-friendly businesses anyway?

    What is decarbonization?

    As the name suggests, decarbonization is the act of proactively reducing and/or eliminating carbon emissions. In the context of the maritime sector, decarbonization is the industry’s transition to a system that reduces carbon dioxide emissions from both onshore and offshore infrastructure, such as ports, ships and vessels. The ultimate goal of decarbonization in the maritime sector is to eliminate carbon emissions completely and establish more environmentally sustainable processes in the industry’s day-to-day operations.

    Development is still ongoing for the alternative fuels the maritime industry requires to decarbonize. This includes over 60,000 oceangoing vessels that transport 90% of our global trade annually. In response, some shipbuilders and engine manufacturers have begun constructing vessels using duel-fuel engines that can operate on methanol and fuel oil, or on LNG and fuel oil. Currently, ships with dual-fuel engines run mostly on conventional fuels because no affordable alternatives are available. Although there are numerous fuels currently in development, including green LNG, green methanol, green ammonia, and green hydrogen, the maritime industry must make alternative arrangements if it is to begin the decarbonization process. This, of course, begs the question – can the maritime industry in its current state begin decarbonizing? The solution may lie in smaller, more achievable steps.

    Can the maritime industry decarbonize?

    When it comes to ship management, the critical steps throughout the life of a vessel are design, procurement of materials, assembly, ongoing maintenance, refitting, and eventual end-of-life recycling and disposal.

    At each phase, the maritime industry must focus on decarbonization. Options include building the vessel with an optimized hydrodynamic hull design, wind support for sailing, efficient multi-fuel engines, and digital systems that optimize routing and the distance traveled. Materials should also be sourced from suppliers utilizing low-carbon production methods.

    Of course, the kinds of vessels built will depend on the materials, engines, and fuels available. It will also come down to the overall goals of owners and operators, future regulations, locations, and the expected length of ownership and operations. This is why incentives and encouragement are needed to reduce uncertainties regarding hesitation or doubt. In this situation, market-based policies such as carbon pricing can spur the development of innovative shipbuilding technologies and hasten the transition to a decarbonized maritime industry. This is where implementing green corridors could be beneficial to the sector.

    Green corridors

    The maritime industry is a global, autonomous ecosystem compromised of numerous organizations and businesses collaborating when necessary to accomplish a shared objective. No single leader determines this ecosystem’s direction – instead, decisions are shared among the multiple participants operating within the ecosystem. As a result, adaptation is not centralized but rather organic and in response to the demands of each partner. This needs to change if the industry hopes to decarbonize by 2050, as outlined by the International Maritime Organization (IMO).

    Achieving a higher level of ongoing collaboration for innovation and transformation is challenging. This is because when it comes to the day-to-day operations of the maritime industry, there are multiple levers across the sector required to decarbonize operations completely. Owners/operators working within the maritime sector must align their strategies and goals to ensure they work simultaneously.

    This is where green corridors come in – implementing green corridors could put pressure on owners/operators who are hesitant to invest in green technologies and essentially spark change across the entire industry.

    As the name suggests, a green corridor decarbonizes a specific maritime route. As ports are a crucial component within the maritime supply chain, decarbonizing specific ports could accelerate decarbonization and provide the necessary infrastructure the sector needs to store alternative fuels and onshore supplies. Doing so would also give owners/operators the incentive to invest in green technologies for their fleets.

    The maritime sector could catalyze green growth and development across many other vital industries by implementing more environmentally sustainable processes.

    Given how significant the sector is in ensuring continuity in the global economy, you might be asking how the marine industry could be expected to decarbonize. The maritime sector must decarbonize and move away from utilizing fossil fuels as its primary energy source, just like any other major sector – especially if it hopes to minimize its impact on our planet. By investing in the right technology, driving demand, encouraging worldwide collaboration, and working with the proper government bodies to enact effective policies, the maritime sector could stimulate more investment and interest in renewable projects and effectively kickstart a green revolution that transforms the world’s major industries.

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     Connie Geer 

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  • New Mexico is Hiring ‘Professional Bear Huggers’ | Entrepreneur

    New Mexico is Hiring ‘Professional Bear Huggers’ | Entrepreneur

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    Bears may not be considered the most cuddly of animals, but a new job posted by the New Mexico Department of Game and Fish is searching for people brave enough to spend their days cuddling the cubs.

    The job listing is looking for “professional bear huggers,” a.k.a. Conservation Officers, who will be required to “hike in strenuous conditions, have the courage to crawl into a bear den, and have the trust in your coworkers to keep you safe during the process.”

    The posting on Facebook, which has received over 2,700 reactions, displays adorable photos of current Conversation Officers cuddling the tiniest of bears that were taken out of a den in Northern New Mexico as part of a research project.

    The role will also require a Bachelor of Science in a related field to wildlife conservation and sciences, including “biological sciences, political science or law enforcement, natural resources conservation, ecology, or [other] related fields.”

    Those selected for the position will be put through the New Mexico Department of Game and Fish Recruit Training Program and complete training through the New Mexico Law Enforcement Academy. There’s also a physical fitness test.

    “Not all law enforcement field work is this glamorous, but we would love for you to join the team where you can have the experience of a lifetime,” the Department wrote in its social media post.

    Other duties for the job include educating the public about wildlife in the area, participating in research, helping capture “problem animals,” and investigating damages, among other responsibilities.

    Those who feel up for the challenge are encouraged to apply through March 30.

    According to New Mexico’s official state website, the American Black Bear was chosen as the state’s official animal on February 8, 1963.

    It’s estimated there are 850,000 to 900,000 black bears in North America.

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    Emily Rella

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  • San Fran Bans Future Sale of Gas-Powered Heating Appliances | Entrepreneur

    San Fran Bans Future Sale of Gas-Powered Heating Appliances | Entrepreneur

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    San Francisco Bay Area regulators have banned the future sale of gas-powered heating appliances, such as furnaces and water heaters, to protect the region’s air quality.

    Starting in 2027, The Bay Area Air Quality Management District will require homeowners to replace any broken gas-powered heating units with heat pumps, devices that use an advanced form of technology similar to refrigerators and air conditioners to cool and heat a home at the same time. Regulators will also work with local governments in the area to ensure that permits for houses require the installation of electric heating appliances.

    District officials estimated that this move could prevent smog-forming air pollutants and avert 15,000 asthma attacks and 85 premature deaths in the region due to better air quality. The measure will also contribute to cutting the state’s climate emissions, as home heating currently comprises 11% of the state’s fossil fuel emissions.

    Related: There Are a Ton of New Jobs In Energy. Are You Qualified to Fill Them?

    Why the ban?

    In homes heated by fossil fuel furnaces and water heaters, numerous air pollutants from those appliances can seep into the air inside and outside the home. Many times, these gases don’t even have to be present in high volumes to do long-term damage to people’s health. Low levels of nitrogen oxides — one of the air pollutants targeted in the rule –– can irritate asthma, chronic obstructive pulmonary disease and lead to respiratory infections in children, according to the Environmental Protection Agency.

    A Bay Area Clean Air Coalition analysis of national data showed that in California, people of color are exposed to 32% more indoor air pollution from appliances than their white counterparts. The review demonstrates that phasing out fossil fuels in the home can have positive impacts that go beyond reducing carbon emissions. The standard could also help bring cooling to households, almost half of which don’t have air conditioning – while temperatures in the state are rising.

    California is also helping to make heat pumps financially feasible for homeowners. While the upfront costs of installing a heat pump can top $10,000, subsidies available from the state of California, the federal government, and the Bay Area can help offset these costs to help people who might not otherwise be able to afford upgrading their gas appliances.

    Additionally, different types of subsidies can be combined to cover the costs of heat pumps. Heat pumps also have long-term financial benefits which outweigh those of other traditional heating systems, such as the combined heating and cooling impact as well as the comparative cost of electricity versus gas which can result in savings.

    It is still unclear if the standard will be implemented in a way that hurts or helps low-income residents since high utility bills are already impacting Bay Area residents. Regulators will need to create specific guidelines for the program to ensure that this program does not burden low-income residents.

    “Bay Area policymakers must ensure that the transition away from fossil fuel appliances is part of the solution for more affordable, climate-resilient housing, and not part of the problem,” said Megan Leary, community engagement and policy manager at Emerald Cities San Francisco Bay Area.

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    Siri Chilukuri

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  • Tweak Your Company’s Mission Statement to Inspire Sustainability With Just One Word | Entrepreneur

    Tweak Your Company’s Mission Statement to Inspire Sustainability With Just One Word | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Companies have vision statements that summarize their values for a reason — employees that get on board with your mission and vision tend to work harder for you, and according to the Dale Carnegie institute, companies with engaged workers outperform competitors by 202%. Still, as the current focus on environmental, social, and governance (ESG) demonstrates, times change. You’ll have to update your vision to keep pace with this new ESG focus, but as little as one word can be all you need to improve your relevancy and influence.

    Related: Vision Statements: Why You Need One and How to Create One

    Brief and built into everything

    Good vision statements are memorable. To achieve that memorability, your best bet is to keep your new, ESG-oriented vision statement as brief as possible.

    Take Cisco. If they had written something like “to build voice-over-IP systems that utilize the most advanced internet connection technologies, are the best in the industry, and return a great value to our shareholders,” people probably wouldn’t have given the words more than a quick skim before moving on to something more interesting. Their actual vision, “changing the way we work, live, play and learn,” is more to the point and free of jargon. It gets across that Cisco wants to be a change agent and that it understands the significance of connection and communication in our world.

    At Merchants Fleet, we adhered to this rule of simplicity first by consolidating the multiple vision statements we had for different areas of the business into just one: “Enabling the movement of people, goods and services freely.” To update this for ESG later on, we added a single word: “responsibly.”

    Once you have a concise vision statement that incorporates some ESG values, you’re not done. You then have to go back and look at all the training and messaging your company has. Are the ESG values there, too?

    Ensuring that the values are consistently visible in everything you do supports buy-in to the vision statement because it shows your team that you’re serious about the ESG shift and are going to follow it up with a real plan of action. At the same time, the concise vision statement helps workers understand why you’re approaching the training and messaging the way you are.

    Related: Why Companies Need to Think More Strategically About Their Environmental Impact

    Perspective and keeping promises matter

    When we added the word “responsibly” to our vision to ensure it had an ESG focus, we recognized a critical point — “responsibly” means different things to different people.

    If our business suddenly got rid of every gas vehicle we’ve got, it would seem responsible to clients who are fully behind electric cars, vans and trucks. But it would seem irresponsible to clients who don’t have a lot of charging stations around or who have to travel distances that are still beyond the range of an electric vehicle (EV). For one of our clients, it didn’t make financial sense to try to install the infrastructure EVs would have required.

    In the same way, our company’s diversity profiles in New Hampshire and Chicago are very different. In New Hampshire, our profile is at 5% diversity, yet that’s higher than the New Hampshire average. In Chicago, we’re 45% diverse, simply because that area is more diverse overall. To require 45% diversity would seem responsible in Chicago but near impossible in New Hampshire.

    So as you adapt for ESG, be careful to give the word or words you add careful thought and avoid absolutes, even as you push for something that’s still specific. The words should be acceptable and understandable on a broad level, but they should also be flexible enough that you can still meet the needs and expectations of your entire base. They shouldn’t alienate anyone, including your employees.

    Similarly, make sure that your mission statement is realistic and attainable. If you choose a word that makes it impossible to follow through on your promise, customers will see that you’re not doing what you said and lose faith in you. Suppose you’re an airline company. If you added the phrase “on time” to your mission statement, you’d be opening the door to a massive number of complaints, as there are just too many variables around airlines to promise you’ll hit every time point perfectly. If you add “safely,” though, that’s much easier to achieve consistently.

    The best practice is to aim for something that’s timeless and a little better than what you had. Leave buzzwords and trends on the shelf because the more you change your vision statement, the less memorable or sticky it will be.

    Related: Three Letters That Will Make Your Company More Successful and Sustainable

    The journey, action, and accountability are all ongoing

    Keeping in mind that there’s a connection between your ESG vision statement and the practices of your company, consider your vision statement an ongoing journey. Revisit it on a regular basis to make sure it still works for you in an authentic way.

    Any time you tweak your statement and add more words, make sure you have an execution plan and accountability. When we added “responsibly” to Merchants Fleet’s vision statement, we were clear that we were adding an ESG team. But your moves could also include reorganizing, doing more training or developing checks and balances. Expect to sum up what you’re doing and the results you’re getting in reports along the way. The rule is to understand that you’re signing up to develop new goals and take additional action with whatever you add.

    Related: Why ESG Companies Are Better Equipped to Weather an Economic Storm

    ESG can deliver both stability and positive change

    Even though ESG is getting more press than it used to, it’s something great companies have always practiced, and the need to connect your ethics to your action will always be relevant. ESG values can ground your business through multiple generations in a powerful way. At the same time, they can help you continuously explore how you can still grow to be a larger help to everyone around you. If you integrate those values into your vision statement, which is the foundation for everything you do, you’ll get the buy-in necessary for the positive change you want.

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    Brendan P. Keegan

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  • The ‘Cocaine Cat’ Is Recovering at Cincinnati Zoo | Entrepreneur

    The ‘Cocaine Cat’ Is Recovering at Cincinnati Zoo | Entrepreneur

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    Many may be familiar with Cocaine Bear, the comedy thriller based on the true story of a black bear found dead near a duffle bag loaded with $2 million worth of cocaine.

    But have you heard about Cocaine Cat?

    There’s no movie yet— but thankfully, his story has a happy ending.

    Earlier this year, a 35-pound African serval — named Amiry — escaped from a car that police had pulled over for a traffic stop in Cincinnati.

    The freaked-out feline ran up a tree. During the rescue by local animal control, Amiry broke his slender leg.

    Photo by: Cincinnati Animal CARE/Facebook

    He was admitted to Cincinnati Animal CARE, where the medical team tested him for narcotics. The hospital explained on Facebook that this “has become standard procedure for ‘exotic’ animals after we seized custody of Neo, a capuchin monkey who tested positive for methamphetamine in early 2022.”

    They soon discovered that Amiry was strung out on cocaine.

    Photo by: Cincinnati Animal CARE/Facebook

    Recovering at the zoo

    In Ohio, it’s illegal to own serval cats—not to mention snort cocaine. Amiry’s owner was not arrested, but he did have to relinquish the cat to the Cincinnati Zoo.

    The zoo announced on Facebook that Amiry is on the mend.

    “Amiry’s health has improved enough after receiving care in our veterinary facility that we were able to move him to the Cat Ambassador Program area yesterday. He is still recovering from a leg injury, so the CAP team will keep an eye on that before allowing him to run, jump, and engage in other activities that might impair healing. They will concentrate on helping him acclimate to a new environment and his new care team,” they wrote.

    So where did Amiry get the blow? The police are still investigating if Amiry’s ingestion of cocaine was accidental or forced. Charges against his former owner are still on the table, Troy Taylor, the chief dog warden for Hamilton County, told CityBeat.

    What is a serval?

    The serval is a wild cat native to Africa. It has a small head, large ears, a golden-yellow to buff coat spotted and striped with black, and a short, black-tipped tail. The serval has the longest legs of any cat relative to its body size.

    The cats have grown in popularity as pets recently— and are legal in certain states. According to Pets4You, they can cost anywhere from $1000 to $1500.

    Still, many animal experts don’t support the trend, saying servals require a balanced diet and specialized care way beyond a house cat.

    “There are way better options for pets that are way more safe, economically smart, and sustainable,” Julie Sheldon, clinical assistant professor of zoo medicine at the University of Tennessee, told the Associated Press.

    Photo by: Cincinnati Zoo

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    Jonathan Small

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  • 7 Water-Saving Strategies for Your Business | Entrepreneur

    7 Water-Saving Strategies for Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Water is critical to sustaining our society, but we are pushing some resources to their limits.

    In the US, the Colorado River, the primary water source for seven states, including California, is dipping dangerously low due to poor river management and a drought lasting more than two decades.

    Lake Powell, a holding tank for outflow from the Colorado River, is perilously close to a “dead pool,” where water levels get so low that water cannot flow downstream. If Lake Powel goes dry, the consequences will be immediate and sweeping, given that Colorado supports $1.4 trillion in economic output and 16 million jobs.

    A dry Colorado River would affect drinking water, sanitation, agriculture, manufacturing, and even electricity, since Lake Powel provides power to more than 4.5 million people.

    Related: 5 Ways Technology Can Help Save Water; Here’s How!

    Water scarcity does not just impact the US. From South Africa to Chile, countries worldwide have grappled with water shortages. Today 450 million children live in areas of high or extremely high water vulnerability.

    But here’s some encouraging news. Water scarcity doesn’t have to be inevitable. As governments work to renegotiate better water management, businesses can take steps to avoid a true water crisis and prepare themselves for upcoming water constraints.

    1. Use behavioral change to conserve water

    From washing hands to watering crops, all businesses use water. Non-manufacturing businesses may not see major daily water use, so encouraging employees to think more consciously about their water usage may be one of the most effective ways to conserve water.

    The Queensland Business Bureau provides suggestions to help businesses such as:

    • Create an employee led water savings initiative.
    • Establish a company wide water use target.
    • Appoint a ‘water champion’ to check and monitor progress.
    • Provide information on ‘using water wisely.’ This can include education on how much water goes into products like paper (2 liters per sheet!).

    Businesses can also learn lessons from the behavioral change campaigns Cape Town ran during its water crisis. In an effort to get all residents to use no more than 100 liters per person per day, Cape Town helped residents quantify water usage with online calculators and campaigns that illustrated different ways to measure one liter of water. Setting an actionable goal and teaching people how to measure that goal are key to success.

    Related: 6 Meaningful Ways to Reduce Your Company’s Carbon Footprint

    2. Invest in technology to increase water efficiency

    Your first step to investing in water efficient technology may be surprisingly simple: routinely check for leaks and learn how to fix them. Real-time leakage detection systems can help to monitor pipes and faucets you do not regularly see, like the ones under your sink or behind your toilets. There are also apps to monitor your water usage through your utility. No matter the method, finding and preventing leaks can save gallons of water every day.

    Installing a water fountain for employees that tracks how many water bottles are saved can reduce plastic usage. While we know single use plastic bottles create excess trash, plastic water bottles also contribute to water waste using 1.39 liters of water for every liter bottle produced.

    3. Understand the impact across your supply chain

    Given the importance of water as a resource, understanding how much different products contribute to your water footprint helps prevent a water crisis and saves money. The Water Footprint Calculator helps businesses and entrepreneurs better understand the water footprint of different products.

    Water footprints have three parts. Green water footprints indicate the consumption of rainwater, blue water footprints indicate the consumption of surface and groundwater, and gray water footprints indicate the pollution of surface and groundwater. Understanding how much water different products use can help you choose products that rely on less water and are likely, cheaper.

    Related: Role Of Startups In Creating Sustainable Water Solutions

    4. Build a low-water use business

    Some industries have exceptionally high water usage, including agriculture, apparel, beverages, biotechnology, and electric power. These industries also happen to be vital to modern existence. Disruptive businesses that find new alternatives to water intensive business models stand to thrive.

    As water levels continue to fall, farmers will be particularly hard hit, given that agriculture accounts for 70% of the world’s water usage. AI and other new technology can allow for “precision agriculture” that carefully monitors how much water plants need at any given moment. These technologies will be critical for the future of farming. Innovators should also look to sustainable fashion initiatives for potential business opportunities.

    5. Support technologies that create more sustainable water systems

    Where there is a problem, there is an opportunity to invent a solution. Technologies like Hawa Water tackle water scarcity in the UAE by harvesting drinking water straight from the air. Even governments are getting creative. Now that aquifers have been pumped dry, cities are turning to groundwater recharge projects and other man-made interventions to replenish them.

    As the crisis grows, governments are providing money for startups with creative solutions. India, for example, has 18% of the world’s population but only 4% of its water supply. The country’s Clean Water For All challenge asks Indian entrepreneurs to pitch, pilot and scale solutions that help manage the subcontinent’s water issues.

    Related: Alleviating the Impending Water Scarcity Through Sustainable Water Resource Management

    6. Invest money in good water governance

    Investing in companies that promote good water governance and don’t rely on outrageous amounts of water may be a better long-term bet. Not only will it contribute to safeguarding the world’s precious water supplies, but it will also ensure that soaring water prices don’t eventually destroy your investments overall. Groups like Fidelity have put together guides to investing in companies that take the future of water seriously.

    7. The future of water is the future of business

    Water impacts business in more ways than people might ever imagine. In addition to everything mentioned above, low water levels along the Mississippi recently resulted in a 3,000 barge backup that impacted how quickly people could get their goods.

    As businesses think about adapting to an ever changing world, they must pay attention to the world of water as it does far more than keep us alive. Water generates electricity, prevents disease, grows food, produces goods, cools computers and keeps modern society moving forward.

    Related: This Ex-Google Employee is Restoring India’s Freshwater Bodies Scientifically

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    John Boitnott

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  • Jack Daniel’s-Fed Whiskey Fungus Consumes Tennessee Town | Entrepreneur

    Jack Daniel’s-Fed Whiskey Fungus Consumes Tennessee Town | Entrepreneur

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    Whiskey fungus, a black-to-gray, crusty — or sometimes velvety — mycelium, has been reported near Kentucky bourbon distilleries, Canadian whiskey makers, and Caribbean rum manufacturers. The fungus can be a real problem in the South because it can survive hot Southern summers thanks to its ability to resist temperature changes and cling to almost any surface. And although Tennessee-based Jack Daniel’s complied with local, state, and federal regulations regarding fungus control, local woman Christi Long has sued the company over fungus fueled by barrelhouses — even as JD planned to build seven more warehouses in its rural home county to age whiskey, potentially generating up to $1 million in tax revenue.

    The New York Times reports that whiskey fungus has infested the copper roof of a circa-1900 mansion owned by Long. The mansion’s exterior walls have influenced crusting on nearby magnolia trees and also infested a rock garden and metal gate. Nearby resident Tracy Ferry also complained about fungus growth in the family’s home and vehicle.

    So last week, a judge ruled that Jack Daniel’s must obtain permits before using barrelhouses near Long’s mansion. Despite the company’s compliance with regulations, the impact of whiskey fungus on nearby residents raises concerns about the spirits industry’s expansion. Distilling industry growth has generally led to more cases of whiskey fungus affecting residential areas near distillers’ locations. Although it complies with regulations, the fungus can cause property damage and cling to almost any surface.

    Other distillers are surely watching the case. Expansion in the distilling industry should be balanced with its effects on nearby residents and measures must be taken to mitigate whiskey fungus outbreaks, or an entirely new genre of high-dollar litigation might become a fixture in civil courts for years to come.

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    Steve Huff

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  • 10 Billionaires Stepping Up to Fight Climate Change | Entrepreneur

    10 Billionaires Stepping Up to Fight Climate Change | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Billionaires get a bad rap for leaving a giant carbon footprint, but some of the world’s wealthiest people are leading the cause to help reduce the devastating effects of climate change.

    These business leaders are investing their private fortune in renewable energy sources, funding research to reduce pollution, and helping to create sustainable jobs. They’re also propping up green businesses and organizations trying to make a lasting impact.

    On the subject of sustainability, many business leaders and companies talk the talk (greenwashing has been well-documented), but here are some billionaires who are putting their money where their mouth is.

    Related: ‘I Give a Lot More Money to Climate Change Than Elon Musk’: Bill Gates and Elon Musk Reignite Feud

    Yvon Chouinard

    Estimated Net Worth: $1.2 Billion

    Yvon Chouinard founded Patagonia, a California-based clothing and gear company. What started as Chouinard selling clothes to support his equipment business in 1973 turned into a $3 billion company today, operating in multiple countries.

    Last year, Chouinard, his wife, Malinda Pennoyer, and their children, Fletcher and Claire, transferred their entire Patagonia ownership to a trust and the non-profit organization, The Holdfast Collective, whose mission is to combat climate change. Chouinard says he wants Patagonia’s profits to combat climate change and safeguard undeveloped land.

    Marc Lore

    Estimated Worth: $4 Billion

    Tech entrepreneur Lore founded Jet.com and Quidsi and was the former CEO of Walmart U.S. eCommerce. He’s built his success on a commitment to customer satisfaction and a drive to make a difference.

    Lore recently outlined his vision for a Telosa, a “new city in America,” an eco-friendly metropolis he wants to create across 150,000 acres of American desert land. Lore hopes it will be home to 50,000 “diverse” people by 2030.

    His vision is to deliver sustainable energy production and a “15-minute” city design that lets residents access their work, schools, and other necessities close to their homes and eliminate commuting times.

    Gwendolyn Sontheim Meyer

    Estimated Worth: $6.8 Billion

    Gwendolyn Sontheim Meyer is an inspiring female billionaire and philanthropist. The great-great-granddaughter of the founder of Carfill, William Wallace Cargill, Meyer owns a stake in the privately owned U.S. food giant.

    She founded a leading software company and advocates for women’s rights and economic sustainability.

    For her economic philanthropy, Meyer has made working with Native tribes a priority and was recently actively involved in the campaign to protect Bristol Bay from a mining project. Meyer is passionate about preserving the natural environment, supporting a sustainable future, and creating an ecologic future for the area.

    Phil Knight

    Estimated Worth: $45.6 Billion

    Co-founder of Nike, Phil Knight is a self-made billionaire who turned a small footwear business into one of the world’s most recognizable brands.

    Referred to as “Uncle Phil,” Knight has infused a culture at Nike that defends our environment. They have launched a move to-zero campaign, which is Nike’s vision to reach zero carbon and zero waste.

    Outside of Nike, Knight made the largest cash donation Stanford had ever received from an individual – $400 million – to help create a new program, Knight-Hennessy Scholars, to impact poverty and climate change. He made the announcement one day before his 78th birthday.

    Robert F. Smith

    Estimated Worth: $8 Billion

    In 2000, Smith founded the private equity firm Vista Equity Partners, which with $96 billion in assets, is one of the best-performing private equity firms in the world today.

    Smith has long advocated addressing and tackling climate change. With Business Roundtable, he works alongside CEOs from the largest U.S. companies, including Amazon, Chevron, and General Motors, to support market-based carbon prices and create strategies to reduce greenhouse gas emissions.

    The group says it will support initiatives to reduce U.S. greenhouse gas emissions to 80% below 2005 levels by 2050. In addition, he has donated significantly to educational institutions, and his commitment to giving back has made a difference in countless lives.

    Jensen Huang

    Estimated Worth: $19.2 Billion

    Billionaire and co-founder of NVIDIA, Jensen Huang revolutionized how we experience computing. His expertise in Artificial Intelligence, Graphics Processing, and High-Performance Computing has made him one of the most successful entrepreneurs in the world.

    Huang believes that AI can be used to simulate the future, particularly the impacts of climate change over time. He and his wife, Lori Huang, donated $50 million to Oregon State University’s Innovation Complex, which he believe will help scientists understand how to manage climate change effects. The complex will include a supercomputer acting as a “digital twin” to Earth to simulate and predict climate change.

    Donald “Bubba” and Dan Cathy

    Estimated Worth: $8.1 Billion Each

    Founded by their late father, Samuel Truett Cathy, in 1946, Chick-fil-A has become one of the most iconic restaurant chains. After his passing in 2014, his sons Donald and Dan have taken the reigns of the Dwarf House and Chick-fil-A, continuing the social responsibility of their operations.

    They follow a unique approach to reducing construction waste and have implemented a process called “Lean Construction,” which has a 50% reduction in construction waste. The Cathy brothers have centered the key to their corporate purpose is being a “faithful steward of all that is entrusted” to them, including the planet.

    Alice Walton

    Estimated Worth: $64.7 Billion

    When Alice’s father, Sam Walton, founded Walmart in 1962, she was only 13. By 1990, Walmart had become the biggest retailer in the United States. Sam once said that his only daughter Alice is “the most like me—a maverick—” After he died 1992, Alice continued to fulfill his philanthropic vision.

    Through the Walton Family Foundation, she focuses on conservation work, protecting oceans and rivers to benefit people and the environment, and tackling food sustainability challenges. It is a shared belief in their Foundation that those closest to environmental changes are often closest to the solution.

    Passionate about sustaining the resources that sustain the people, her shared goal with the Foundation is to ensure healthy water for people and nature and work an economically and environmentally sustainable path forward for our planet.

    Joe Gebbia

    Estimated Worth: $8.3 Billion

    After Joe Gebbia graduated from the Georgia Institute of Technology, he moved to San Francisco with his friend, Brian Chesky, to follow their entrepreneurship aspirations. Together they created the revolutionary platform Airbnb, which made Gebbia a billionaire and a leader in the hospitality industry.

    Gebbia has focused much of his philanthropic efforts on battling climate change through trash removal. He’s donated to groups like The Ocean Cleanup to remove plastic from our oceans and rivers.

    Seeing that roughly $175 billion a year is needed to protect the oceans, but less than $10 billion total had been invested in the cause, Gebbia stepped up. After donating $25 million, Gebbia shared, “I’m proud to partner with The Ocean Cleanup in their crucial work to remove harmful plastics from our oceans.”

    David Filo

    Estimated Worth: $5.3 Billion

    David Filo co-founded Yahoo! in 1994 with Jerry Tang, which became one of the world’s biggest brands and most trafficked websites. While with Yahoo!, Filo has been behind several grassroots campaigns to improve energy efficiency to ensure Yahoo! is a solution, not a problem, to climate change.

    As early as 2009, Yahoo! said it wouldn’t purchase carbon offsets for its operations, focusing its climate strategy on reducing the energy used by its data centers.

    Outside of Yahoo!, David and his wife, Angela Filo, run the Yellow Chair Foundation, with climate change and the environment are among their top priorities.

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  • Do You Qualify For These Green Tax Breaks? | Entrepreneur

    Do You Qualify For These Green Tax Breaks? | Entrepreneur

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    It’s tax time, and companies nationwide are looking for sustainable write-offs to help soften the blow and reduce their carbon footprint.

    Like it or not, the Inflation Reduction Act of 2022 (IRA) put into law many tax credits for green business practices.

    “It does contain a virtual garden of green incentives for small businesses’, entrepreneurs, and others seeking to do well for the planet and their pocketbook,” says Steve Miller, a former IRS Acting Commissioner and current National Director of Tax at alliantgroup.

    We asked Miller to sort through all the key tax credits available to your business so you don’t have to.

    Big list of tax credits

    Before deep diving into a few larger items, here is a general list of tax credits available via the IRA in 2022.

    • Sec. 45: Energy production credit: 3 cents per kilowatt hour of clean energy sold to the grid.
    • Sec. 48: Energy property credit: Credit for up to 30% of cost of purchasing clean energy property.
    • Sec. 45Q: Carbon sequestration credit: credit per metric ton of carbon oxide captured and then sequestered or used in your business.
    • Sec. 45U: Zero emission nuclear power production credit: 1.5 cents per kilowatt of zero emission nuclear power produced and sold.
    • Sec. 40B: Sustainable aviation fuel credit: $1.25 per gallon of sustainable aviation fuel produced and sold.
    • Sec. 45: Energy production credit: 3 cents per kilowatt hour of clean energy sold to the grid.
    • Sec. 48: Energy property credit: Credit for up to 30% of cost of purchasing clean energy property.
    • Sec. 45Q: Carbon sequestration credit: credit per metric ton of carbon oxide captured and then sequestered or used in your business.
    • Sec. 45U: Zero emission nuclear power production credit: 1.5 cents per kilowatt of zero-emission nuclear power produced and sold.
    • Sec. 40B: Sustainable aviation fuel credit: $1.25 per gallon of sustainable aviation fuel produced and sold.
    • Sec.45V: Clean hydrogen production credit: Credit for up to $3 per kilo of clean hydrogen produced.
    • Sec. 45W: Clean commercial vehicle credit: Up to 30% of the cost of a clean commercial vehicle.
    • Sec. 48C: Advanced energy project credit: Application-based credit for 30% of the cost of a facility to manufacture advanced energy property (i.e., making solar panels). $10 billion allocated.
    • Sec. 45X: Advanced manufacturing production credit: Varying credits for the production and sale of eligible property; credit amounts based on the energy production capacity of that property.
    • Sec. 45Y: Clean electricity production credit: Credit of .3 cents per kilowatt hour sold.
    • Sec. 48E: Clean electricity investment credit: Credit for up to 30% of cost of electricity production facility and storage equipment for a zero-greenhouse emission facility.
    • Sec. 45Z: Clean fuel production credit: Up to $1 per gallon of clean fuel sold by taxpayers.

    Some of the incentives of this new law can be paid directly to governments and non-profits, almost like a grant. A few of the incentives can even be paid to for-profit companies.

    Plus, this is the first time in a while, congress has allowed certain benefits to be transferred to third parties, meaning they can be sold to investors. Many tax benefits can be carried back three years instead of the usual one year, which means you can get a refund on already paid taxes in prior years.

    Energy efficiency credits

    Under the new plan, there are incentives for improvements to the energy efficiency of existing buildings. The government can allocate a deduction to the designers of the energy-efficient changes. While the prior deduction was $1.80 per square foot, the new provision allows up to $2.50-$5.00 per foot. Other changes expand the ability to allocate the deduction from governments to non-profits (think hospitals and colleges) and Indian Tribes, according to Miller.

    Research and development credits

    Miller points out that the Inflation Reduction Act calls for tax credit changes for research and development. How so? Previously, start-ups and small businesses could take a refundable $250,000 credit against their employment tax liabilities. This limit on start-up credit election doubled to $500K, and what taxes can be offset were expanded.

    “Any small business, whether they qualify for the start-up provision or not, should consider the R&D credit in any event as it is a valuable incentive,” says Miller. “Too many small business owners think of the credit as requiring bench research and white coats. That is not the case. Over the years, the IRS and Congress have expanded the credit to reward many types of innovation and research on US soil.”

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  • Entrepreneur | Mama Mia! The Venice Canals Are Running Dry.

    Entrepreneur | Mama Mia! The Venice Canals Are Running Dry.

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    Venice, Italy, is known for its intricate system of canals, which are famously navigated by gondolas and water taxis.

    But a series of unfortunate weather conditions have left many of these canals low and dry.

    A drought, a high-pressure system, and sea currents have caused the usually overflowing canals to be almost empty, wreaking havoc on the city’s transportation system.

    The drought is caused by higher-than-usual temperatures, little rainfall, and less snow than usual in the North.

    “We are in a water deficit situation that has been building up since the winter of 2020-2021,” climate expert Massimiliano Pasqui of the Italian scientific research institute CNR told the newspaper Corriere della Sera. “We need 50 days of rain.”

    Related: Avoid Traveling to These Places If You Want to Help the Environment

    Photo by Stefano Mazzola/Getty Images

    Grounded gondolas

    The results of the low water levels can be seen all over Venice. Photos show gondolas, usually navigating through the water piloted by gondoliers, grounded in mud puddles.

    And it’s not just the tourists who are suffering. Reuters reported that water ambulances, which form part of the city’s emergency services, could also not access some routes.

    The good news: The latest weather forecasts say much-needed precipitation and snow is expected in the Northern Alps soon, which supplies Venice with water.

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    Jonathan Small

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  • Entrepreneur | The Key Ingredient Company’s Miss Trying to Be Energy Efficient

    Entrepreneur | The Key Ingredient Company’s Miss Trying to Be Energy Efficient

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    Sustainability and green initiatives have grown in importance for businesses in recent years. Although firms are implementing many eco-friendly activities and policies, there is increasing pressure to take positive steps regarding technology and IT equipment.

    Sustainability reports are considered the norm in many companies. With new patterns of remote or hybrid working, green companies, however, strive to do more by sourcing eco-friendly products, identifying energy-efficient equipment (and processes), and investing in renewable energy.

    But online security is another significant area that many organizations miss.

    As companies expand and become more collaborative and connected through technology, their critical systems must stay secure. Can this strategy truly be considered energy-efficient?

    Related: A Job in This Industry Is Not Only In Demand in 2023 — Our Future Depends on It

    How much energy your technology drains

    Energy consumption by IT equipment, computers, servers, and thousands of other IoT (Internet of Things) devices is notoriously lacking in measurable data. A whitepaper by The Shift Project summarized that digital technologies are essential in the global effort to end dependence on fossil fuels. But the energy impact of this growing use could cause a ‘net increase’ in sectors’ carbon footprint.

    It’s almost impossible to estimate every device’s usage as it pertains to a company’s energy-preservation efforts. Even more challenging is the challenge of estimating the electricity consumed in securing devices, networks, and systems. In addition, you will also need to calculate the energy costs in protecting a business’ IT equipment from cyber-attacks.

    Tech experts will usually be the first to highlight how energy-efficient modern digital devices and systems are within a company. Meanwhile, there is a counterargument that argues that the IT industry’s share of energy use is steep, producing total emission levels similar to that of global transport.

    Despite the evidence that IT and cybersecurity cannot be considered 100% green and renewable, it’s only fair to applaud the industry’s efforts at finding renewable sources to use. Modern digital technology can optimize how more energy-intensive activities can be conducted.

    Safeguarding your cybersecurity

    It’s easy to overlook the amount of energy used when using essential devices, appliances, and systems every day, whether for work, school, or personal enjoyment.

    All of these everyday devices emit energy, including mobile phones, computers, boilers, washing machines, lights or heating systems, and the reality is, all of these devices are necessary. These devices’ adequate and appropriate protection is also crucial and fundamental for their successful operation and synchronicity.

    The risk of cyber threats has only grown in scale and severity over the years. Cyberthreats range from financial crime, ransomware, DDoS (distributed denial of service), and malware to hacking secure networks and systems to gain access to sensitive information.

    The threat landscape remains volatile for companies across all industries, and, ironically, the energy industry is particularly susceptible. Cybercriminals may be financially, economically, or politically motivated, with attacks severely disrupting activities. Not just daily activities and operations, but long-term strategic ones, too.

    Recently the cybersecurity firm Redscan surveyed 180 CFOs, CEOs, and other financial executives worldwide about cybersecurity. The results showed an ‘overconfidence’ around cyber risks, according to Mark Nicholls, Chief Research Officer of Redscan.

    “Almost 87% of the surveyed executives expressed this confidence, yet 61% of them had suffered at least three significant cyber incidents in the previous 18 months,” he said.

    Companies that are taking steps to improve global energy efficiency might be severely stunted if they do not implement proper security controls to protect networks and infrastructure.

    Simply ignoring cybersecurity is not an option, so what can businesses do to make sure this requirement is addressed in a way that doesn’t prohibit their energy preservation?

    Enhancing energy efficiency through tech

    Investing in environmentally friendly technology is one of the most effective ways a business can save more energy. This can range from small changes such as LED lighting, green switches, and smart heating controls to large-scale systems like wind turbines, solar panels, geothermal heating, or water conservation plans.

    Establishing widespread use of energy-efficient technologies requires companies to be mindful of future cyber needs. Building owners will likely need to upgrade IT infrastructure to accommodate modern safeguarding, so they must be supported to ensure all changes are handled with excellent care and consideration for preserving energy.

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    Ryan Kh

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  • Entrepreneur | Tesla’s Charging Stations Will Be Available to All EVs by 2024

    Entrepreneur | Tesla’s Charging Stations Will Be Available to All EVs by 2024

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    Tesla, the major player in the electric car industry, is set to open up some of its charging stations to all US electric vehicles for the first time.

    Under the new plan, at least 7,500 charging points from Tesla’s Supercharger and Destination Charger networks will be made available to non-Tesla EVs by the end of 2024. This move has the potential to revolutionize the promotion of electric vehicle use, which is a significant component of President Joe Biden’s objective to combat climate change, and opening it to the country’s largest and most reliable charging network could be a game-changer.

    “As President Biden said, the great American road trip will be electrified,” said Mitch Landrieu, a White House aide who oversees implementation of the 2021 infrastructure law signed by Biden.

    Related: Super Bowl Ad Shows Self-Driving Tesla Decapitating a Mannequin and Running Over Baby Strollers

    New EV standards

    The White House revealed a range of new initiatives on Wednesday, aimed at making EV charging networks more accessible and reliable for Americans, especially for those traveling long distances. These initiatives include introducing new standards that will ensure anyone can use a charging network, regardless of their vehicle or location.

    Tesla, General Motors, Pilot, Hertz, EVgo, and several other companies have committed to increasing the number of public charging ports by thousands over the next two years. This expansion will be funded by private funds and federal spending from the infrastructure law, bringing the nation closer to achieving Biden’s EV charging goals.

    Tesla is set to install charging stations in public places such as hotels and restaurants, which will be accessible to all EV drivers using the Tesla app or website. Additionally, Tesla has plans to expand its network of Superchargers nationwide by 2030.

    The implementation of standards will not only guarantee the effectiveness of the substantial investment in EV charging infrastructure but also foster the creation of high-paying employment opportunities, and ensure that the EV chargers receive quality maintenance through the enforcement of rigorous workforce standards such as the Electric Vehicle Infrastructure Training Program (EVITP) and Registered Apprenticeships. As part of the White House Talent Pipeline Challenge, the International Brotherhood of Electrical Workers (IBEW) has already certified 20,000 electricians through the EVITP program.

    Part of the new Infrastructure Bill

    These measures will aid the US in fulfilling the ambitious targets of the Biden administration to tackle the climate emergency, including constructing a countrywide network of 500,000 electric vehicle chargers on American highways and ensuring that EVs make up at least 50% of new vehicle sales by 2030. Furthermore, they will foster an industrial strategy to advance the domestic electric vehicle and charging sector.

    Apart from investing around $7 billion in EV battery components, crucial minerals, and materials, the Bipartisan Infrastructure Law allocates $10 billion for sustainable transportation and $7.5 billion for EV charging.

    Together with several other federal initiatives aimed at supporting domestic manufacturing and establishing a nationwide network of EV charging stations, these flagship programs are a substantial addition to the Inflation Reduction Act’s backing of cutting-edge batteries, fresh and extended tax credits for EV purchases, and funding for the deployment of charging infrastructure.

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    Jessica Hunt

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  • Entrepreneur | The Evergreen Action Path to Reaching 100% Clean Energy

    Entrepreneur | The Evergreen Action Path to Reaching 100% Clean Energy

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    Opinions expressed by Entrepreneur contributors are their own.

    The current United States Administration has an ambitious goal: Cut carbon emissions and reach 100% clean power by 2035. Is this even possible? A new report from the Evergreen Action organization, partnering with NRDC (Natural Resource Defense Council), charts just how it could be done.

    Making it over the last stretch

    The good news is that in recent years, the United States has come very far in growing its renewable energy sources, providing much cleaner electricity than in the past. These leaps and bounds in growth have led to an important question for the future: Where do we go from here?

    In many respects, the first clean energy targets were the easiest to meet, requiring the least effort and focusing on the areas that are easiest to change. The targets remaining for the 2035 goal are more difficult. They are likely to require more resources and regulations to meet, as well as a significant shift in the industry and public thought about how energy works.

    Governments have many tools to help cross this gap, but taking action quickly is essential. Businesses should now consider potential rebates and funding options to save time.

    Related: 5 Tips for Creatively Going Green With Your Business

    Utilizing the clean air act and EPA to Revolutionize the Power Sector

    The EPA has significant authority to regulate certain business activities that can pollute the environment and threaten the health of citizens. That can include regulating carbon production and fuel exhaust through the Clean Air Act and other measures. But it also needs to include enforcement, something the EPA has traditionally failed at: As the Evergreen Action report indicates, 39 states have currently failed to submit articles like regional haze SIPs (Sharing Information on Progress) as required by law. That cannot continue if energy goals are reached.

    How does EPA action help move to clean energy? Part of the label “clean” means that these sources naturally produce little or no exhaust or fumes: Compare what an electric vehicle does to the air around it vs. a gasoline engine, and it’s easy to see how that effect can multiply when applied to an entire city – or a power plant.

    That gives businesses a few different options to act on. Those that may encounter carbon reduction requirements in their industry should start planning on new energy sourcing now. Compliance will become more important than ever. California’s carbon restriction program from the last several years is a good example of where many other regions could be heading.

    Related: Protect the Environment, Protect Your Business

    Building on the efforts of the IRA (Inflation Reduction Act)

    The IRA was passed in 2022 and included many measures to help grow the U.S. economy. Part of that was the largest investment in the clean energy sector that the country has ever seen. In the coming years, America must focus on using those funds to make the maximum difference.

    One of the most critical efforts resulting from the bill is an investment in new infrastructure needed for clean electricity transmission. That infrastructure is much easier to develop in urban areas, such as with convenient EV battery chargers in parking lots. Rural areas face significant challenges. That’s why the IRA includes a vital $12.8 billion for rural utility financing. This money is designed to help rural areas transition to clean sources of power, forgive debts associated with high-carbon fuel sources so they can be more easily retired, and much more. It also provides funding for new public transmission lines and other important components that will be needed to meet future goals.

    The IRA includes tax credits and other various tools to help encourage businesses to adopt clean energy practices. If your business (especially those involved in any kind of energy or infrastructure work) hasn’t looked at IRA programs, now is the time to begin. Brushing up on government bid experience is also advisable.

    Funding alternative sources of power, including nuclear and wind

    The federal government also has many ways to encourage and fund research and adopt alternative energy technologies. That includes Greenhouse Gas Reduction Fund, State Climate Grants and other “Force Multipliers” programs to help advance energy goals. Clean sources of power, including more wind farms and the adoption of small nuclear reactors, will be required to meet goals, and their growing use should be met by efforts to educate the public on their benefits and safety.

    These competitive grants can help a variety of businesses. Still, it’s essential to bring in (or consult with) expert grant-writing services to ensure that the organization is dotting all the i’s and mastering the details necessary to qualify.

    Possible vs. Practical

    These steps are all possible – mechanisms exist to implement them. But, of course, there is another question: How practical are they given today’s political climate? Such broad changes need broad political buy-in and consensus, which does not currently exist in the United States. Congress is currently split between parties with very different ideas about energy and regulations. Any additional laws or changes are likely to either not have enough votes to pass or to be met with lawsuits that will eventually arrive at the Supreme Court.

    This situation doesn’t look likely to be resolved any time soon. But to meet our important goals in the 2030s, an energy agreement is required. Part of the solution lies in greater awareness and firmer plans, which means studies like this are vital. Other solutions lie with individual efforts by states and green energy initiatives from companies around the country. That means businesses must stay on their toes, watch for opportunities and prepare for a future where energy choices are more important than ever.

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    Abe Issa

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  • Ford Halts Production of F-150 Lightning Pickup Due To Battery Problems

    Ford Halts Production of F-150 Lightning Pickup Due To Battery Problems

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    Ford Motor Co. halted the production and shipment of its F-150 Lightning electric pickup after it discovered a potential battery failure during pre-delivery check-up inspections.

    The news of the suspension in deliveries of the automaker’s electric vehicle (EV) version of its classic pickup truck was first announced on Feb. 14 by Motor Authority.

    “We are not aware of any incidences of this issue in the field,” Ford spokesperson Emma Bergg told Reuters in an email.

    Bergg said the order to stop production was issued at the start of last week and that the company was investigating the battery issue.

    Ford has yet to provide a timeline for a production restart and when it will lift the in-transit stop-ship order.

    Demand Rises for Ford’s Electric Pickup Truck

    The Lightning is the electric version of its popular F-150 pickup, which is one of Ford’s top-selling models in the United States. Production of the EV truck is a major part of its goal to go full electric over the next decade.

    Demand for the EV truck has been strong from the beginning, with Ford receiving more than 200,000 reservations for the F-150 Lightning after bookings opened in mid-2021.

    The Detroit-based automaker has delivered 15,680 Lightnings so far after deliveries commenced in May 2022, according to Barron’s.

    Ford’s goal is to be have enough capacity in place to build two million EVs a year by 2026—but the battery issues would need to be addressed.

    Cause of F-150 Lightning Battery Failure Remains Unknown

    “The team is diligently working on the root cause analysis,” Bergg told CNBC, adding they are “doing the right thing by our customers” and will resolve any potential issues before resuming production and shipments.

    It is unknown if the pause had to do with batteries purchased from suppliers, battery pack defects, or a software issue regarding battery management, which is common on all EVs.

    Bergg said that Ford is unaware of any incidents or issues associated with the potential battery issue.

    A no-stop-sale order for the Lightnings already on dealer lots have not been issued, which means dealers can continue to sell the EV trucks they have on hand. It is also unclear if the recent stop build and stop ship order would affect the delivery timelines for consumers awaiting their existing orders of the F-150 Lightnings.

    However, since Ford is already struggling to scale up production of the truck to keep up with consumer demand, the probability of even more extended wait times is likely.

    Ford Had Disappointing Fourth-Quarter Results

    Earlier this month, Ford posted poor fourth-quarter results and a loss of $2 billion for 2022 due to uncertainty over its semiconductor chip supply.

    Ford CEO Jim Farley blamed systemic shortcomings around costs and systems that put the brakes on his plan to transform the company. “We have deeply entrenched issues in our industrial system that have proven tough to root out,” Farley to investors on the February conference call.

    Farley had plans to expand its EV business and set up lines for its legacy conventionally powered vehicles, vans, and other commercial vehicles, but persistent supply-chain turmoil has delayed his vision.

    The company will need to focus more supply-chain improvements and higher industry volumes, as well as on lower costs for commodities and logistics.

    The Detroit automaker added a third work crew last December in order to boost production of Lightning and capitalize on strong demand for the EV.

    Meanwhile, Ford’s stock price extended its losses after news of the production halt, and was down 1.6 percent by the afternoon.

    Shares of Ford have declined 26 percent in the past 12 months, compared with losses of around 6 percent for the benchmark S&P 500 Index.

    Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University

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    Bryan Jung

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  • Entrepreneur | Ford Halts Production of F-150 Lightning Pickup Due To Battery Problems

    Entrepreneur | Ford Halts Production of F-150 Lightning Pickup Due To Battery Problems

    [ad_1]

    Ford Motor Co. halted the production and shipment of its F-150 Lightning electric pickup after it discovered a potential battery failure during pre-delivery check-up inspections.

    The news of the suspension in deliveries of the automaker’s electric vehicle (EV) version of its classic pickup truck was first announced on Feb. 14 by Motor Authority.

    “We are not aware of any incidences of this issue in the field,” Ford spokesperson Emma Bergg told Reuters in an email.

    Bergg said the order to stop production was issued at the start of last week and that the company was investigating the battery issue.

    Ford has yet to provide a timeline for a production restart and when it will lift the in-transit stop-ship order.

    Demand Rises for Ford’s Electric Pickup Truck

    The Lightning is the electric version of its popular F-150 pickup, which is one of Ford’s top-selling models in the United States. Production of the EV truck is a major part of its goal to go full electric over the next decade.

    Demand for the EV truck has been strong from the beginning, with Ford receiving more than 200,000 reservations for the F-150 Lightning after bookings opened in mid-2021.

    The Detroit-based automaker has delivered 15,680 Lightnings so far after deliveries commenced in May 2022, according to Barron’s.

    Ford’s goal is to be have enough capacity in place to build two million EVs a year by 2026—but the battery issues would need to be addressed.

    Cause of F-150 Lightning Battery Failure Remains Unknown

    “The team is diligently working on the root cause analysis,” Bergg told CNBC, adding they are “doing the right thing by our customers” and will resolve any potential issues before resuming production and shipments.

    It is unknown if the pause had to do with batteries purchased from suppliers, battery pack defects, or a software issue regarding battery management, which is common on all EVs.

    Bergg said that Ford is unaware of any incidents or issues associated with the potential battery issue.

    A no-stop-sale order for the Lightnings already on dealer lots have not been issued, which means dealers can continue to sell the EV trucks they have on hand. It is also unclear if the recent stop build and stop ship order would affect the delivery timelines for consumers awaiting their existing orders of the F-150 Lightnings.

    However, since Ford is already struggling to scale up production of the truck to keep up with consumer demand, the probability of even more extended wait times is likely.

    Ford Had Disappointing Fourth-Quarter Results

    Earlier this month, Ford posted poor fourth-quarter results and a loss of $2 billion for 2022 due to uncertainty over its semiconductor chip supply.

    Ford CEO Jim Farley blamed systemic shortcomings around costs and systems that put the brakes on his plan to transform the company. “We have deeply entrenched issues in our industrial system that have proven tough to root out,” Farley to investors on the February conference call.

    Farley had plans to expand its EV business and set up lines for its legacy conventionally powered vehicles, vans, and other commercial vehicles, but persistent supply-chain turmoil has delayed his vision.

    The company will need to focus more supply-chain improvements and higher industry volumes, as well as on lower costs for commodities and logistics.

    The Detroit automaker added a third work crew last December in order to boost production of Lightning and capitalize on strong demand for the EV.

    Meanwhile, Ford’s stock price extended its losses after news of the production halt, and was down 1.6 percent by the afternoon.

    Shares of Ford have declined 26 percent in the past 12 months, compared with losses of around 6 percent for the benchmark S&P 500 Index.

    Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University

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    Bryan Jung

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  • 5 Ways to Protect Your Business from Climate Change Disaster

    5 Ways to Protect Your Business from Climate Change Disaster

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    Opinions expressed by Entrepreneur contributors are their own.

    Severe weather is the new normal. Recent floods in California, tornadoes in Alabama, and freezing temperatures in New York are just the tip of the ever-melting iceberg. In 2022 alone, the United States experienced 18 natural disasters, including wildfires, severe storms, tropical cyclones, flooding, freezing, and drought, costing $1 billion dollars.

    Research indicates that climate disasters will become more frequent and produce more damage. In 1980, the US experienced just $3 billion in climate events. But these events have steadily increased, hitting $22 billion in damages in 2020.

    Your business doesn’t have to suffer from a lack of preparedness. From picking the right property to weather-proofing your infrastructure, here are five ways to be resilient in the face of climate change.

    Related: 3 Apps to Prepare Your Startup for Severe Weather

    1. Understand your location

    Knowing the climate risks of your area will help avoid high costs down the road. But this could be harder than it sounds given that, in some cases, property owners may not share information, such as flood history, with a prospective buyer or may not have that information to start with.

    Thankfully, there are ways to find out about potential risks. For example, depending on which state you live in, there may be flood disclosure laws that make finding out about your property much easier.

    In Texas, sellers must tell you everything, including whether or not there was previous water damage due to flooding or if the property is located in a 100-year or 500-year floodplain or a reservoir. Other states, like Minnesota, require sellers to disclose anything that could “adversely and significantly impact a buyer’s use and enjoyment of the property.” Some states, such as Utah, have no requirements to disclose past information.

    If your state does not require any disclosures, you can do your research. Websites like FEMA National Risk Index, Risk Factor, and Climate Check let you search properties by address and calculate risk.

    Related: Do You Have the Right Insurance for Your Business? Here’s How to Understand Your Options

    2. Find the right insurance

    Once you understand your risks, you may need to find insurance. This isn’t as easy as it sounds. While insurance plays a crucial role in protecting property owners, insurance prices are rising as the industry is struggling to keep up with the demands of climate disasters. In 2021, the industry reached a 10-year high for covering losses from disasters at a whopping $42 billion, increasing premiums 12.1% between 2021 and 2022.

    To keep up with these threats, the insurance industry is creating new risk rating systems for climate insurance. These new rating systems have increased insurance prices for many property owners. However, there are ways to reduce your risk rating by disaster-proofing your property.

    As you look for policies, research the insurer’s risk rating and find ways to lower your risks.

    Related: This Company Turns Plastic Garbage Into Construction Materials

    3. Prevent damage before the storm

    Given the high price of insurance and the instability in the industry, preventing weather damage will help you avoid high costs. Flooding and high winds cause most of the damage. For intense winds, protecting windows, securing roofing, and securing loose items will do most of the job, but water damage may require more preparation.

    Whether designing a new building or retrofitting an old one, there are two ways to protect against flooding: “wet floodproofing” and “dry floodproofing.”

    For wet floodproofing, water-resistant building materials and a first story with minimal usage, reserved for light storage or parking, allow water to flow through the first level of the building without taking down the structure. For “dry floodproofing,” you can seal the building to flood waters and use removable barriers to keep water away from the structure.

    While these upgrades may be costly, you can qualify for funding to help reduce costs. For example, you can get financial assistance through a Hazard Mitigation Grant.

    If you experience damage from a flood, you may be able to get support from your local government to implement changes as you rebuild. In San Francisco, the city government launched a relief program offering up to $5,000 for businesses that experienced damage in the flood zone and $2,000 for companies outside the zone.

    Related: 3 Steps to Prepare Your Business for Wildfire Season

    4. Protect against fires

    Depending on where you live, you may be at greater risk from wildfires.

    Invest in fire-grade materials, including mesh screening and non-combustible gutters and fences, to help keep embers out of your home and prevent fire from entering. You can also purchase non-flammable plants to build a barrier between your home and fire.

    As with storm damage, if your local government has a Hazard Mitigation Grant, they may be able to help fund some upgrades to help you protect against fires.

    5. Participate in resilience hubs

    Most of these solutions have focused on long-term strategies, but disasters also have immediate consequences. Be sure to stock up on water and food and have an evacuation plan.

    Find out if your area has a “resilience hub,” which are designed to provide shelter, clean energy, and other resources to communities immediately following extreme weather events. Participating in developing these hubs can help ensure your business continues to thrive during disasters.

    Related: 3 Ways Tech Entrepreneurs Can Help, and Grow, During a Natural Disaster

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    John Boitnott

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  • The 5 Must-Have Items That Help You Mix Business and Pleasure Like a Pro

    The 5 Must-Have Items That Help You Mix Business and Pleasure Like a Pro

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    From cozy slip-on shoes you can do anything in, to a portable projector for entertainment on the go.

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    Mario Armstong

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  • 4 Smart Crowdfunding Solutions for Your Green Startup

    4 Smart Crowdfunding Solutions for Your Green Startup

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    Opinions expressed by Entrepreneur contributors are their own.

    From energy-saving cookware and smart bikes to home energy storage systems and efficient composting, many green startups are increasingly looking for capital to launch their business.

    But with the forecast for global venture funding continuing to look bleak for early to mid-2023, green entrepreneurs may need to turn to alternative sources to score the cash they need to go to market.

    For many startups, crowdfunding platforms have become a popular, more democratic means to secure funding. Rather than leave a business’ fate to venture capitalists, crowdfunding enables entrepreneurs to pitch directly to consumers, including family, friends, and a built-in base of early adopters and sustainability champions who want to be a part of growing a business from the ground floor.

    The expansion of crowdfunding platforms in recent years comes at an ideal time as the labor market continues to feel the impact of the Great Resignation, with as many as four million people quitting in the month of October, according to U.S. Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey program. Dissatisfied with their jobs during and after the pandemic hit, thousands of people either landed new positions, left the job market, or started their own businesses.

    How to choose the right crowdfunding platform

    Trusted crowdfunding platforms, such as Indiegogo, StartEngine, or GoFundMe, are good places to start if you want to raise funds.

    Indiegogo’s crowdfunding platform, known for its selection of tech, hardware, and innovative products, has a community of 950,000 founders who can tap into more than 13.5 million backers. The platform has raised more than $78 million for sustainable products and continues to see green tech as one of the most popular categories for fundraising over the last two years.

    StartEngine boasts a community of 900,000+ founders. Launched in 2015, StartEngine is an equity crowdfunding platform that enables backers to take some ownership of a company in exchange for financial investments. The business recently reached a sizable investor community totaling one million.

    Similar to Indiegogo, StartEngine doesn’t discriminate when it comes to the kinds of businesses that can use the platform for fundraising and welcomes businesses across diverse verticals.

    One of the more universally known crowdfunding platforms, GoFundMe, touts a global community of more than 100 million people with more than 17 billion raised for various community causes, including environmental charities.

    No matter which platform you choose, here are three essential tips to follow that will help attract interest in a worthy campaign:

    Tell a compelling story

    Entrepreneurs can’t sell units or build a community of backers unless they have a meaningful way to talk about their product or service. It is essential to develop a compelling mission and messaging that explains what a product is, how it works, and why people should care. Be sure to layer in rich content, including professional photography and video, which gives backers the confidence the product will perform as expected.

    Tap into services that help build a fan base

    Many crowdfunding platforms offer services and advice that help entrepreneurs build strong campaigns. For example, Indiegogo has a resource center where entrepreneurs can access videos and other rich content on topics such as how to convert followers to backers, how to test messages, how to provide customer support, and marketing best practices. For additional advice, entrepreneurs can visit StartEngine’s blog, one of which encourages startups to market the raise by running incentives, perks, and ads.

    Listen, learn, tweak

    Browse other crowdfunding campaigns in similar and dissimilar industries to understand what campaigns are doing the best. Take note of how companies position their product or services, whether or not the company used a video, and what kind of messaging was shared on the video to understand what and how the product is resonating with an audience. Incorporate those insights into the materials being developed for your campaign to help draw a big community. When the campaign is ready to launch, be prepared to listen to customer feedback, make tweaks as necessary, and come back with a product that’s ready for prime time.

    A success story

    BLUETTI AC500 & B300S, a home backup power station, was originally set up to raise $1,000,000 on Indiegogo and raised more than $11.5 million through 4,507 backers in its crowdfunding campaign. BLUETTI has since increased its raise to more than $12 million by using the platform’s InDemand tool, which helps businesses extend its campaign to support e-commerce activities. LaunchBoom helped GoSun, a company that promotes solar-powered tech products, launch four different products, including GoSun Chill, the business’ original solar cooler, in 2019 with a raise of more than $700,000.

    The time is now for green entrepreneurs to take advantage of the green market momentum for what could be the difference between a lucrative launch or just a pipe dream.

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    Sonia Taylor

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  • McDonald’s Is Testing a New Strawless Lid in Aim to Go Green

    McDonald’s Is Testing a New Strawless Lid in Aim to Go Green

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    Many businesses are taking steps toward a greener future — including McDonald’s.


    Andrew Aitchison | Getty Images

    The fast-food giant has started testing strawless lids in some U.S. cities as part of a multi-year initiative to make its packaging more eco-friendly, CNN Business reported. It’s part of the chain’s attempt to reduce greenhouse gas emissions from its offices and restaurants by 36% between 2015 and 2030.

    Related: 8 Things McDonald’s Can Teach You About Business Success

    Removing straws might seem like a small detail, but data from the nonprofit Ocean Conservancy revealed that nearly 7.5 million plastic straws were found on U.S. shorelines during a five-year research project — and that’s up to 8.3 billion on the world’s coastlines.

    McDonald’s new plastic lids have a pullback tab to keep spillage at bay. Customers can tuck it into a small opening to sip their beverage, not unlike the design Starbucks rolled out several years ago.

    Related: A Guy Just Totally Ruined McDonald’s Holiday Cups With a Simple Drawing

    “These lids help optimize our packaging and eliminate the use of small plastics, just one example of the many solutions we’re reviewing as part of our ongoing global commitment to reduce waste,” a McDonald’s spokesperson said in a statement.

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    Amanda Breen

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  • Coffee Pods Might Not Be As Bad for the Environment As You Think

    Coffee Pods Might Not Be As Bad for the Environment As You Think

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    Opinions expressed by Entrepreneur contributors are their own.

    With three-quarters of the American population drinking coffee and at least 53% consuming a cup of Joe once a day, we are starting to wake up to the effects our love affair with this caffeinated beverage has on our environment.

    From deforestation to waste, the impact of increased coffee production is taking a toll on the planet.

    But new research has shown that certain methods of coffee preparation can produce less carbon emissions and be better for the environment.

    The researchers also discovered that it’s the way the coffee is manufactured — not the packaging itself — that causes the most harmful environmental impact.

    Let’s grind a little deeper.

    Related: Science Says When to Stop Drinking Coffee to Ensure a Good Night’s Sleep. And It Is Earlier Than You Think.

    Best ways to prep

    Researchers at the Université du Québec à Chicoutimi (UQAC) looked at the carbon footprint of several techniques used to prepare coffee at home, including:

    • Pods
    • Instant coffee (soluble)
    • Brewed (French press)
    • Traditional filter

    Their analysis showed that traditional filtered coffee is the worst for the environment. The process requires more coffee than the other three brewing methods and uses more water and electricity to keep the water warm during the making process. This leads to filtered coffee using 1 ½ times more energy than pods alone.

    Instant coffee is actually the cleanest form of coffee preparation due to the small amount of coffee and electricity required. However, coffee-making isn’t a scientific process. Studies have shown that many of us use 20% more coffee than what’s required, boil too much water, and therefore use too much electricity.

    Enter the pods.

    According to the study, coffee pods, long maligned for clogging up landfills, may actually take home the prize for being the most environmentally friendly. Why?

    The pod process is designed to use the exact amount of water, coffee, and electricity to make the perfect cup. Its foolproof system minimizes waste, saving between 11-13 grams of coffee compared to filtered coffee.

    Using recyclable pods, switching to a greener source of electricity, and taking your pods to collection points for recycling the aluminum case and coffee waste could be a better way to further reduce your carbon footprint when you have your next cup of coffee.

    Many pod makers encourage recycling. Nespresso even offers in-store collection points for you to recycle your coffee capsules. The company also states that they “re-use the coffee grounds to create nutrient-rich compost or green energy.”

    It’s not the method. It’s the packaging.

    No matter how you brew your coffee, the real waste occurs before you purchase it. Researchers in Quebec found that the harvesting of coffee makes up most of the carbon emissions — not the packaging.

    “Regardless of the type of coffee preparation, coffee production is the most GHG-emitting phase,” researcher Rodrigues Viana told the Washington Post. “It contributed to around 40 percent to 80 percent of the total emissions.”

    Researchers point to the “mechanization, irrigation, and use of nitrous oxide-emitting fertilizers — the production of which requires large quantities of natural gas” as the greatest culprit contributing to coffee’s carbon footprint.

    How to drink coffee responsibly

    So how do you enjoy a cup of Joe without worrying about how it’s impacting the planet? Researchers in Quebec recommend drinking less.

    “Coffee capsules avoid the overuse of coffee and water,” they write. “However, the convenience of capsule machines can lead consumers to double their coffee consumption, thus making this environmental advantage redundant.”

    In the end, it’s all about moderation.

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    Adrian Falk

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