Heat records and climate accords: How did the environment fare in 2023?

From drought in Spain to floods in the Horn of Africa and wildfires in Canada, 2023 was marked by some alarming environmental disasters. However, it wasn’t all bad news – the past few months have seen some significant advances in the fight against climate change.

The hottest year in history

It was hot this year, sometimes very hot – temperatures reached 53°C in Death Valley in the United States, 55°C in Tunisia, and 52°C in China

Even after summer, the mercury did not drop to regular levels with September, October and November all experiencing unusually warm temperatures. The news everyone anticipated finally came in early December: 2023 was the hottest year in recorded history.

For the period from January to November, the average global surface temperature was 1.46°C above the pre-industrial era. It was also 0.13°C above the average of the previous hottest year, 2016. The combined effects of the El Nino climate phenomenon in the Pacific and climate change are to blame.

Oceans suffered from extreme heat

The heat was not confined to land; the planet’s oceans also experienced frighteningly high temperatures. March, April, May, June, July, August, September and October all recorded their hottest maritime temperatures ever.

On July 30, the average global ocean surface temperature reached an unprecedented 20.96°C, according to the European climate monitoring service, the Copernicus Institute. Just a month later, the Mediterranean Sea set its daily heat record, with a median temperature of 28.71°C, according to the main Spanish maritime research centre.

Read moreWorld’s oceans set new temperature record, EU data says

These repeated new records indicate an increasing frequency of marine heatwaves, something that could have dramatic impacts on biodiversity.

Both poles melting at rapid rates

In February, towards the end of the summer in the southern hemisphere, the Antarctic ice sheet reached an alarmingly low level before growing back at an unusually slow pace over the winter.

The ice sheet’s surface in September was 16.96 million km2, the lowest sea ice maximum since measurements began by a wide margin, according to the National Snow and Ice Data Center (NSIDC)

At the other end of the globe, the Arctic experienced its warmest summer on record, with an average temperature of 6.4°C. Both regions are affected by the “polar amplification” phenomenon which mean they warm faster than lower latitudes, partly due to the melting of the ice sheet and ocean warming.

Long periods of drought

The year was also marked by a series of severe droughts. France, for instance, recorded no significant rainfall for the 32 consecutive days between January 21 and February 21 – “the longest period since records began in 1959”, according to the Copernicus Institute.

In Spain, parts of the population had to deal with a lack of rain for more than 100 days, sparking frustration and raising tensions with neighbouring Portugal over water use.

The European Union was far from the only affected territory. In early June, Iran warned that 97% of the country lacked water due to a lack of rain. A historic drought that has had serious consequences for agriculture since 2020 continued in the Horn of Africa.

Unprecedented wildfires

With drought comes fire. Some 6,400 fires burned 18.5 million hectares of Canada’s famous forests – more than twice the previous record of 7.6 million hectares set in 1989 – giving the country its worst fire season ever recorded.

Images of an orange and apocalyptic New York skyline went viral after smoke from the Canadian wildfires made its way south, polluting air and disrupting traffic.

The Statue of Liberty is covered in haze and smoke caused by wildfires in Canada, in New York on June 6, 2023. © Amr Alfiky, Reuters

Across the Atlantic, thousands of tourists had to be evacuated from the Greek island of Rhodes due to forest fires in what was the European country’s largest evacuation operation ever.

Rains intensify

Episodes of drought were followed by intense rains, often causing floods. In early August, a month’s worth of rain fell in less than 24 hours in Slovenia, killing three people and causing an estimated €500 million of damage.

In the Horn of Africa too, drought gave way to torrential rains, killing more than 300 and displacing two million people, according to the UN. 

In Libya, several thousand people died, and tens of thousands were displaced due to floods in the eastern part of the country.

Serious flooding also occurred in the United States, Japan, Nepal, China, and even France, which experienced historic autumn rainfall in the Pas-de-Calais region.

Fossil fuels mentioned in a COP final text

For the first time, a United Nations Climate Conference (COP) – held in early December in Dubai – concluded with a text calling for a “transition away” from the primary driver of climate change, fossil fuels. 

However, the text has been criticised for its many shortcomings by environmental NGOs and activists, notably for favouring carbon capture technologies and presenting gas as a “transitional energy”. 

Renewable energies made headway

Renewable energies advanced at full speed in 2023. Mainly driven by solar and new photovoltaic capacities, renewable energies are expected to produce 4,500 GW of power in 2024, equivalent to the combined electrical production of the United States and China, according to a report by the International Energy Agency.

In the EU, this momentum is expected to be boosted by a new “Renewable Energy Directive” which set a binding target of achieving 42.5% renewable energy by 2030, compared to the current 22%. Following COP28, EU member states also committed to tripling the production of renewable energy.

An EU law on nature restoration and biodiversity

There was also good news for forests, meadows, lakes, rivers, and corals. After months of tension and hours of negotiations, the European Parliament and EU states reached an agreement in November on a nature restoration bill. The stated goal is to restore 20% of the EU’s land and seas by 2030, and all degraded ecosystems by 2050 – representing 80% of total natural habitats.

Watch moreMeeting Dr Jane Goodall: A global champion for the environment

While the text is less ambitious than it was originally supposed to be, especially regarding restoration obligations for agricultural land, it raised hopes at a time of grave biodiversity loss.

The first treaty on the protection of international waters

After 15 years of discussions, in June, the UN officially adopted the High Seas Treaty, a first of its kind aimed at protecting international waters and preserving marine life.

International waters begin where the exclusive economic zones (EEZ) of states end – up to a maximum of 200 nautical miles (370 km) from the coasts – and are therefore not under the jurisdiction of any state. Although they constitute nearly half of the planet and more than 60% of the oceans, international waters have long been ignored in environmental efforts. Today, only about 1% are subject to conservation measures.

The new treaty will facilitate the creation of marine protected areas. The text is expected to come into effect in 2025, at the next UN Ocean Conference in France.

Is a treaty against plastic pollution in the works?

The good news may not end with 2023. Representatives from 175 countries have been developing a legally binding agreement on plastic pollution. This is a significant challenge as plastic, derived from petrochemicals, can be found everywhere – from the depths of the oceans to the tops of our planet’s highest mountains.

Read moreTackling plastic pollution: ‘We can’t recycle our way out of this’

However, there is a divergence of views on plastic pollution. Some are calling for a binding treaty aimed at “restricting and reducing the consumption and production” of plastic, while others argue for a focus on better waste management.

This article was translated from the original in French.

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‘Real estate’ for corals: Swiss organisation builds artificial reefs with art, tech

3D-printed clay sculptures that provide shelter to corals are part of an innovative, artistic project aimed at conserving sensitive marine ecosystems. As world leaders gather for the COP28 summit in Dubai, FRANCE 24 takes a look at an unusual conservation project run by a Swiss NGO.

In the depths of Lake Geneva, near Switzerland’s second-largest city, a team of divers began work on an underwater castle – a marine palace fit for corals.

Rrreefs, a Zurich-based organisation founded in October 2020 that designs artificial coral reefs in clay using a 3D printer is an ecological project that combines art, science and new technologies.  

Stacked on a platform, the clay sculptures looked like dungeons waiting to be sent to the bottom of the sea. Ochre in hue with ribbed surfaces, they were soft to the touch and weighed 7 kilograms. They have been carefully designed to collect coral larvae carried by ocean currents. When encrusted, these tiny animals can develop the hard skeletons that eventually form a natural reef.  

Although coral reefs make up just a modest portion of the seabed, 25 percent of underwater life depends on these fragile structures. Their benefits are manifold: Reefs serve as a refuge, a breeding ground and a source of food for fish, and protect coastlines from erosion. 

Clay bricks, designed by Rrreefs, that are intended to form artifical coral reefs. The organisation tested its new-generation bricks in Lake Geneva on September 10, 2023. © Pauline Grand d’Esnon

Maintaining corals’ resistance to global warming 

Mountains of coral – jewels of the natural world – are disintegrating due to overfishing, water pollution and marine heatwaves. Half of them have died over the past 40 years.

“When stressed, corals expel the symbiotic algae that feeds them and starve to death,” explained Rrrefs co-founder Marie Griesmar, sporting a T-shirt emblazoned with a fish. 

She stretched out a hand to her co-founder Hanna Kuhfuss, hampered by her wetsuit, to lift her out of the water.

Rrreefs does not claim to stop the coral disintegrating but it is on a mission to offer shelter to surviving larvae and give coral reefs a second chance to grow and take in other living organisms.

“I’m an estate agent for special animals,” Griesmar said with a smile. 

“What I like about our project is that it uses a passive restoration method,” explained Kuhfuss, a marine biologist by training. “Other coral preservation systems use cloning, but if one of the organisms is sick, it affects them all. Our technique lets nature take its course, encouraging the development of the offspring of corals best adapted to global warming. By relying on natural reproduction, we can maintain their resistance.” 

Four complementary talents 

Rrreefs draws on the talents of four different people. The idea for the project was first sparked at Swiss technology institute ETH Zurich, where Griesmar, an art student, was thinking about how she could connect her passions for art and diving. She crossed paths with Ulrike Pfreundt, a scientist specialising in the preservation of tropical ecosystems, who was doing her final-year project on the effects of currents on artificial structures. 

They began to talk about their plans/dreams for ocean preservation. They were then joined by Josephine Graf, who helped Pfreundt to develop the organisation and find customers. Marine biologist Kuhfuss was the fourth person to join the group. Rrreefs was founded in late 2020. 

Rrreefs’ first attempts were encouragingly successful. Their first trial, launched in the Maldives with 100 clay bricks of various shapes, began to prosper. “These larvae settle in, and the moment they do, this system attracts a whole community: spores, fish,” said Kuhfuss. “And a balanced ecosystem develops, where the sea urchins eat the algae, and so on. In three months, we had almost as many fish as a natural reef!” 

The prototype designed by Rrreefs, here photographed after its installation in October 2022, is already occupied by corals and marine life.
The prototype designed by Rrreefs, here photographed after its installation in October 2022, is already occupied by corals and marine life. © Aldahir Cervantes

With crowdfunding, Rrreefs then launched its first complete prototype, made up of 228 bricks, in partnership with local scientists in Colombia. “The teams on site call it El Castillo! (the castle)” said Griesmar proudly. 

The goal of Sunday’s operation near Geneva was not to attract corals, which live quite far from Swiss lakes. Rather, it was to test their new products in real-life conditions: new-generation bricks that are larger and heavier, with a view to a new installation in the Philippines that just received the green light. 

Nothing was left to chance in the bricks’ design: their porousness, shape and colour are the result of three years of testing. “We chose a natural colour that resembles red-violet algae. It’s the visual indicator of a healthy substrate,” explained Griesmar. The bricks fit together thanks to a protrusion on each side, similar to a small chimney. Like a children’s game, all you have to do is put them together. 

‘To make an impact, you need money’ 

In the lake, things were hotting up. Part of the team planted anchors at the bottom to install platforms that will house the reefs. On the surface, volunteers lowered brick after brick into the water by rope. At a depth of just a few metres, a diver picked them up, placed them on a platform and took them to the reef assembly site.   

However, real-life testing has its share of surprises. “We can’t see anything down there, we got lost! It took us twenty minutes to find the others,” said Mauro Bischoff, the latest addition to the permanent Rrreefs team, as he removes his diving mask. 

The activity in the lake – divers hammering the bottom to install the anchors, and bathers higher up – clouded visibility underwater. It’s time for Plan B: the team unrolls a long red cord from the platform to the marker buoy, so that divers can spot each other from the bottom. “There are always things we don’t plan,” jokes Griesmar. “We have to be creative!” 


The team, whose average age is barely 30, is comprised mostly of Swiss nationals who converse in English, German or French. Leaning over a black waterproof notebook with sketches that accompany them underwater, Griesmar and Bischoff examine a miniature version of their marine castle. 

Bischoff, who has a tribal neck tattoo under his mullet and a twinkle in his eye, is also an art student. He met Griesmar at ETH Zurich, and devoted his final-year project to designing an improved version of the Rrreefs structures. Around them, a handful of volunteers supported the small team, transporting bricks, filming the work and solving problems.    

Busy with full-scale tests, appeals for donations, winning prizes and recruiting customers, Rrreefs is at a crossroads and preparing to become a company. It is the only way, according to its founders, to generate the money needed for its expansive ambitions. 

“We’re going to retain the organisation to do research, but to have an impact, you need money,” said Griesmar. The co-founders, who make collegial decisions about all the developments of their projects, envisage partnerships with hotel chains. “It would be great to raise awareness among tourists (and) show them this project,” she explained. 

A Belgian couple stopped to admire the miniature reef. Griesmar paused her preparations to talk about Rrreefs once more. “This project isn’t just about doing a good deed. It comes from the heart,” she said.   

This article has been translated from the original in French. 

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Australia offers refuge to Tuvaluans as rising sea levels threaten Pacific archipelago

As sea levels continue to rise due to global warming, Tuvalu, a small archipelago in the Pacific, is seeing its territory disappear underwater, threatening the survival of its more than 11,000 inhabitants. A new treaty with Australia, however, will soon allow Tuvaluans to move to the largest country in Oceania, whose greenhouse gas emissions are partly responsible for the islanders’ plight.  

Canberra announced on Friday that it is offering climate refuge to Tuvaluans, unveiling the terms of a pact that would enable citizens of the 26-square kilometre archipelago – the fourth smallest state in the world – to move to Australia to “live, study and work”. 

Located near the Equator, the island nation of Tuvalu is comprised of nine reef islands and atolls that rise an average of only two metres above sea level. Due to rising sea levels driven by climate change, the low-lying land is forecast to be submerged by Pacific waters by the end of the century. 

The new pact between Australia and Tuvalu, signed by prime ministers Anthony Albanese and Kausea Natano, has been described as “groundbreaking ” by University of New South Wales professor and refugee law expert Jane McAdam. 

“It’s the first agreement to specifically deal with climate-related mobility,” McAdam said. 

Natano hailed the agreement as a ” beacon of hope” for his nation. 

According to the pact, which will have to be ratified by both countries before coming into effect, Tuvaluan refugees will have access to education and healthcare, as well as financial and family support in Australia. 

To avoid a damaging “brain drain”, the number of Tuvaluans able to move to Australia will initially be capped at 280 per year. 

Climate migrants 

Australia’s offer to host its South Pacific neighbours marks a new step towards the recognition of climate change refugees. 

In previous years, Tuvaluans and people from other Pacific islands seeking asylum in nearby countries such as New Zealand have seen their requests rejected, as climate change is not recognised as a basis for obtaining refugee status by the 1951 Refugee Convention

Even the term “climate refugee” has no legal definition and is not endorsed by the United Nations High Commissioner for Refugees (UNHCR)

The International Organization for Migration (IOM) meanwhile defines “the movement of a person or groups of persons who, predominantly for reasons of sudden or progressive change in the environment due to climate change, are obliged to leave their habitual place of residence, or choose to do so, either temporarily or permanently, within a State or across an international border,” as “climate migration”.   

This could be applied to the entire Tuvaluan population which is currently threatened by the consequences of climate change. As the archipelago’s shorelines continue to recede, its inhabitants could eventually all be driven from their homes and become some of the world’s first climate migrants.  

Foretold threat 

Many have already warned against the climate challenges that Tuvaluans currently face. 

Fanny Héros, a project officer and scientific journalist in French climate action association Alofa Tuvalu, warned back in 2008 that “the inhabitants of Tuvalu will become the world’s first climate refugees“. 

In 2009, then Tuvaluan prime minister Apisai Ielemia said his archipelago was threatened by rising sea levels due in part to global warming caused by human activity, at the Copenhagen Summit. 

Tuvalu sounded the alarm once again in November 2021 at COP26 in Glasgow.  

“Climate change and sea level rise are deadly and existential threats to Tuvalu and low-lying island atoll countries,” Tuvalu’s Minister of Foreign Affairs Simon Kofe said in a video statement, standing knee-deep in water. 

“We are sinking, but so is everyone else,” he said.  

“No matter if we feel the impacts today like in Tuvalu, or in a hundred years, we will all still feel the dire effects of this global crisis one day,” Kofe said. 


Tuvalu’s top diplomat delivered the same message again the following year, at COP27 in Sharm El-Sheikh, Egypt, as he urged the international community to act swiftly to stop the devastating effects of global warming on the archipelago. 

The Tuvaluan government announced earlier this year the creation of a digital version of its territory, “The First Digital Nation“, to raise awareness of the island nation’s plight, and to allow it to continue to exist as a state even after all of its land has been submerged.

“We want to be able to take a snapshot of what culture is today, and allow my children and grandchildren to have that same experience wherever they are in the world,” Kofe said in an interview with nonprofit organisation Long Now.

“So even if the physical territory is lost, we would never lose the knowledge, culture, and way of life that Tuvaluans have experienced and lived for many centuries,” he said. 


According to the latest report by the Intergovernmental Panel on Climate Change (IPCC), sea levels have risen by around 23 centimetres since 1880. This increase has accelerated steadily over the past quarter-century, to the extent that sea levels are predicted to rise by an additional 30 cm by 2050, and 77 cm by 2100. 

This means that half of Tuvalu’s territory, which has already lost two coral reefs to rising sea levels, would be underwater by 2050. And by 2100, the archipelago would be wiped off the map. 

This combination picture shows at top a Tuvaluan house, perched over an empty “borrow pit” dug by US forces during World War II in order to build the airstrip on Funafuti Atoll, home to nearly half of Tuvalu’s population of more than 11,000, on February 22, 2004, and the same house flooded at high tide. © Torsten Blackwood, AFP

And yet, shrinking land mass is not the only challenge that Tuvalu faces. 

Tuvalu’s capital, Funafuti, has also witnessed severe drought, water shortages and contaminated groundwater due to rising sea levels. The difficult climate-related conditions have subsequently translated into widespread malnutrition and displacement on the archipelago. 

‘Good neighbourliness’

“Australia and Tuvalu are family. And today we are elevating our relationship to a more integrated and comprehensive partnership,” Albanese said in a tweet on social media platform X on Friday as he announced the inking of the pact baptised ‘Falepili Union’ with Natano. 

“Falepili is a Tuvaluan word for the traditional values of good neighbourliness, care and mutual respect. Put simply, it means being a good neighbour,” Albanese said. 


The two countries will work together on “climate adaptation, work arrangements and security” in a new partnership which “recognises climate change as the single greatest threat to the livelihoods, security and wellbeing of the peoples of Tuvalu”, he added. 

While some lauded the new pact, others pointed out the irony as they highlighted Australia’s share of responsibility for global warming. 

“Australia helping the people of Tuvalu who are suffering from the effects of climate change. The same Australia that has undermined every international agreement to reduce greenhouse gas emissions, and is behind many environmentally disastrous projects,” one user said in a tweet. 

Another quipped: “[The] bloody magnanimity of the hero [Albanese] who will throw Tuvalu a lifeline if the island succumbs to the effects of climate change, all the while continuing to sell coal and gas to countries like China and India”. 

Australia’s economic reliance on coal and gas exports has long been a point of friction with its many Pacific neighbours, who face massive economic and social costs from wilder weather and rising sea levels. 

While Australia contributed just over one percent of worldwide greenhouse gas emissions in 2020, it is one of the world’s top exporters of coal which remains largely responsible for global warming. 

According to Geoscience Australia, the country was in 2021 the world’s largest exporter of liquid natural gas (LNG), another cause of rising global average temperatures. 

Albanese said developed nations needed to start shouldering more responsibility as developing countries bore the brunt of the climate crisis. 

Tuvalu is far from being the only island nation threatened by climate change: others such as the Maldives (Indian Ocean), Kiribati (Polynesia), the Marshall Islands and Nauru (Oceania) are also becoming increasingly vulnerable in the face of rising sea levels and multiplying natural disasters, a result of global warming. 

(with AFP)

This article has been adapted from the original in French



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Exclusive: Lukas Walton’s Builders Vision Reveals How It’s Deployed $3 Billion To Change The World

For the first time, the group founded by the Walmart heir details how it’s used investing, philanthropy and advocacy to further its lofty goals of environmental and societal transformation.

L ukas Walton’s Builders Vision, a giant in the world of impact investing, revealed for the first time Tuesday in a 57-page report how it had deployed $3 billion to slow climate change, promote sustainable farming and heal the world’s oceans, among other lofty goals.

The organization founded by the 37-year-old Walmart heir delivered a sobering message: as much as we’re trying, we can’t do it alone.

“We have a lot of capital to deploy, but these are trillion-dollar issues,” Builders Vision president Matt Knott told Forbes. “Even if we’re wildly successful in our own right, it wouldn’t be nearly enough. We need to get other investors and philanthropists to join us and dive into these transitions.”

Walton established Builders Vision as an umbrella for his philanthropic, investment and advocacy work in 2021. Today, the group’s assets include $2 billion in philanthropy, $2.05 billion in its investment arm S2G Ventures, and billions more (the group won’t specify the exact amount) in its asset-management firm, Builders Asset Management. To date, Builders Vision has invested in, financed or partnered with nearly 450 startups and organizations focused on environmental and societal change.

Among the achievements spotlighted in the report: the development of more than 170 sustainable products and technologies; the creation of over 42,000 jobs; the installation of 15,685 megawatts of renewable energy capacity, enough to power the states of Iowa and Michigan; and the mitigation, sequestration or avoidance of more than 4 million metric tons of carbon dioxide, equal to about 870,000 passenger cars.

Walton, a grandson of Walmart founder Sam Walton who inherited a fortune when his father John died in a 2005 plane crash, is worth $23.7 billion, according to Forbes. He has long focused on sustainability and environmental advocacy, and is the environment program committee chair at the Walton Family Foundation. He declined to speak with Forbes for this story, but explained his philosophy in a video that Builders Vision is releasing this morning. “I see a future in which there’s a realization of the ramifications of our decisions,” he said, “but that we have both the power and the opportunity and that we can realize alternative choices that we would be proud to share with our children.”

“Even if we’re wildly successful in our own right, it wouldn’t be nearly enough. We need to get other investors and philanthropists to join us.”

Matt Knott, Builders Vision president

For the past year, Builders Vision, which calls itself an impact platform, has been working to detail the influences of its work, bringing together data from its portfolio companies and other partners from January 2020 to June 2023. Its largest focus is energy, with $1.8 billion in funding commitments. Builders Vision has also committed $1 billion to food and agriculture, and $260 million to healthier oceans.

The group has not disclosed financial returns. Rebecca Carland, Builders Asset Management’s chief investment officer, told Forbes by email that its public ESG equity managers have “collectively outperformed the global equity index by over 200 basis points annualized over the past decade,” while its impact venture capital managers are outperforming traditional VC benchmarks by “a wide margin.” A basis point is 0.01 of a percentage point; 200 basis points are 2 percentage points.

Builders Vision is trying to convince family offices and venture investors to follow its lead. Bill Gates’ Breakthrough Energy and Pierre Omidyar’s Omidyar Network have similarly been set up to use impact investments to tackle global problems.

Builders Vision’s direct investments run the gamut from U.K. microplastics filtration firm Matter to Kansas City, Kansas-based electric terminal-truck maker Orange EV. It counts a total of 166 partners in food and agriculture, 125 in energy and 158 in oceans.

“If you can find the right purpose-driven investments that are addressing real problems in the world, they’re going to be attractive investment opportunities,” said Knott, who previously was president of Feeding America and an executive at PepsiCo. Revealing the platform’s impact in its report, he said, “was important for us and we believe it will be important to catalyze resources into these issues from other organizations.”


Organic Farming

Food and agriculture has been an area close to Walton’s heart. When he was three, he was diagnosed with a rare form of cancer, and after he failed to respond to chemotherapy his mother put him on an all-natural diet, a shift he believes contributed to his recovery.

In the report, Builders Vision said that it had mitigated, avoided or sequestered more than 3.1 million metric tons of carbon dioxide — the equivalent of 683,761 passenger cars — from its work in food and agriculture. It also developed at least 114 products or technologies that promote the production and consumption of healthy food, and it sustainably manages 2.6 million acres of land.

Among the group’s investments: Omaha-based Clear Frontier, which helps farmers transition from conventional methods to organic. Justin Bruch, a fifth-generation farmer from Iowa who holds an MBA from California State University, Fresno set up the firm in early 2019 after he made the switch himself.

Clear Frontier buys up farms that could go organic, then leases them to local farmers who’ve already farmed organically or want to learn how. A big stumbling block, he said, is that farmers are required to spend three years with no synthetics on their farmland to meet the requirements of the USDA’s organic program, yet farmland is generally rented on one-year leases. “No one wants to start a 36-month process and be a year into it and maybe the farm gets sold or rented to someone who pays a higher amount,” he said. “We’re trying to facilitate being the landlord who’s there for the long haul.”

Clear Frontier has more than 15,000 acres in Nebraska, Colorado and Texas, 30% of which is now certified organic with the remainder in transition.


Clean Energy

Builders Vision’s largest dollar commitment is in clean energy. While the majority of funding has gone through fund managers, it has also invested directly in companies such as Electric Hydrogen, which has developed technology to produce green hydrogen, and Brimstone, which makes clean cement.

“Capital formation in the energy sector has been developing more rapidly,” Knott said. But while investors have flocked to the space, he said, there remain areas that haven’t received much funding. “We try to fund those white spaces,” he said.

The group focuses its venture investments on technologies that are ready to scale up, but where entrepreneurs may need help with commercialization or financing. At S2G, Builders Vision’s venture fund, “there’s a pragmatic focus on the next 10 to 15 years, and focusing on opportunities that can deliver big impact then,” said Frank O’Sullivan, S2G Ventures’ managing director, who oversees clean energy investments.

Of the $3 billion that Builders Vision has deployed to date, some 60% has gone to energy.

O’Sullivan pointed, for example, to the use of green hydrogen in the production of steel and ammonia, an area where Electric Hydrogen operates. “Even though it’s technically possible to produce green hydrogen and put it in an ammonia facility, those ammonia manufacturers aren’t able to say, ‘I’ll sign a 20-year, fixed-price agreement with you to have fixed-price hydrogen.’ That’s not their business model,” O’Sullivan said. “That misalignment between business models is an enormous friction point to making progress.”

In addition to installing 15,685 megawatts of renewable energy capacity last year, the group said it created nearly 26,000 new jobs in clean energy.


Healthy Oceans

Tackling problems such as overfishing, the proliferation of microplastics and the extinction of marine species has largely been the work of charitable enterprises. Businesses set up to help oceans have been rare. “The idea was how do we bring innovation and business development into what has largely been a philanthropic space for oceans,” said Peter Bryant, program director of the oceans program at Builders Vision’s Builders Initiative division, who previously worked with Walton on environmental issues at the Walton Family Foundation.

Among the 31 companies focused on improving ocean resilience that have received backing are Atlantic Sea Farms, which produces locally harvested sustainable seaweed; Coral Vita, which uses a process called micro-fragmentation to restore coral reefs; and Moleaer, which cleans water with nanobubbles. It has also worked with the Port of San Diego to improve the shore’s resilience, including by launching 360 artificial reef balls made up of local sediment and oyster shells to prevent erosion.

Providing funds for companies that can scale up their technologies is a major focus. Moleaer, for example, developed a generator to make its microscopic bubbles, which can remain suspended in water for a long period of time, for use in industry. Its technology can be used to replace chemicals that kill algae in water treatment, provide alternatives to chlorine to wash fruit, and even in mines to more efficiently extract copper, a necessary material for electric vehicles. “It’s all about what these bubbles can do,” said Nick Dyner, the company’s CEO. Since 2016, the Carson, California-based startup has deployed nearly 2,500 nanobubble generators worldwide.

Since focusing on oceans, Builders Vision has worked to protect or restore 1.96 million hectares of marine and coastal habitats, roughly 33 times the size of Chicago; avoided, mitigated or sequestered 876,928 metric tons of carbon dioxide; and produced 18,124 tons of seafood, seaweed and other biomass in a sustainable way, nearly the annual seafood consumption of 1,000 people, according to its report.


Measuring Impact

Tracking financial returns is one thing. Quantifying impact is much tougher. What even counts as success? “We know there’s no silver bullet here, and we’re just hoping to add to the evidence base,” said Joanna Cohen, Builders Vision’s head of impact measurement and management.

While Walton’s wealth makes Builders Vision one of the largest impact investors in the world, the group hopes to become bigger still, in terms of both dollars and influence. “I won’t give specific numbers, but I think it can be multiples of what we’re investing today,” Knott said. “And more importantly, I think we can attract multiples of that by having other investors join us on this journey.”

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‘Banging sounds heard’ during Titanic tourist sub search, US media reports

Banging sounds were heard during the search for the Titan submersible on Tuesday, CNN reported, citing an internal government memo. Other acoustic feedback was heard and “will assist in vectoring surface assets and also indicating continued hope of survivors”, according to CNN.

News of the banging sounds was first reported by Rolling Stone.

An aircraft heard sounds at 30-minute intervals from the area where the sub went missing, according to internal e-mails sent to DHS, obtained by Rolling Stone.

Rescuers searched a vast swath of the North Atlantic for a third day on Tuesday, racing against time to find a missing tourist submersible that vanished while taking wealthy passengers on a voyage to the wreck of the Titanic in deep waters off Canada‘s coast.

The 21-foot-long Titan was built to stay underwater for 96 hours, according to its specifications giving the five people aboard until Thursday morning before air runs out.

One pilot and four passengers were inside the miniature sub early on Sunday when it lost communication with a parent ship on the surface about an hour and 45 minutes into its two-hour dive.

As Canadian and US authorities stepped up the search, previous questions about the safety design and development of the submersible by its owner, US-based OceanGate Expeditions, came to light.

The wreck of the Titanic, a British ocean liner that struck an iceberg and sank on its maiden voyage in April 1912, lies about 1,450 kilometres (900 miles) east of Cape Cod, Massachusetts, and 644 kilometres (400 miles) south of St. John’s, Newfoundland.

US and Canadian aircraft have searched more than 7,600 square miles of open sea, an area larger than the state of Connecticut, US Coast Guard Captain Jamie Frederick told reporters at a press conference on Tuesday.

The Canadian military has dropped sonar buoys to listen for any sounds that might come from the Titan, and a commercial vessel with a remote-controlled deepwater submersible was also searching near the site, Frederick said.

Separately, a French research ship carrying its own deep-sea diving robot vessel was dispatched to the search area at the request of the US Navy and was expected to arrive Wednesday night local time, the Ifremer research institute said.

Those aboard the Titan for a tourist expedition that costs $250,000 per person included British billionaire Hamish Harding, 58, and Pakistani-born businessman Shahzada Dawood, 48, with his 19-year-old son Suleman, who are both British citizens.

French explorer Paul-Henri Nargeolet, 77, and Stockton Rush, founder and CEO of OceanGate Expeditions, were also reported to be on board. Authorities have not confirmed the identity of any passenger.

Rescuers face significant obstacles both in finding the Titan and in saving the people aboard, according to experts.

If the submersible experienced a mid-dive emergency, the pilot would likely have released weights to float back to the surface, according to Alistair Greig, a marine engineering professor at University College London. But absent communication, locating a van-sized submersible in the vast Atlantic could prove challenging, he said.

The submersible is sealed with bolts from the outside, preventing the occupants from escaping without assistance even if it surfaces.

If the Titan is on the ocean floor, a rescue effort would be even more challenging due to the extreme conditions more than 2 miles beneath the surface. The Titanic lies 12,500 feet (3,810 meters) underwater, where no sunlight penetrates. Only specialized equipment can reach such depths without being crushed by the massive water pressure.

“It’s really a bit like being an astronaut going into space,” said Tim Matlin, a Titanic expert. “I think if it’s on the seabed, there are so few submarines that are capable of going that deep. And so, therefore, I think it was going to be almost impossible to effect a sub-to-sub rescue.”

Safety issues raised before 

The ability of the tourist sub’s hull design to withstand such depths was questioned in a 2018 lawsuit filed by OceanGate’s former director of marine operations, David Lochridge, who said he was fired after he raised safety concerns about the vessel.

OceanGate said in its breach-of-contract suit against Lochridge, who is not an engineer, that he refused to accept the lead engineer’s assurances and accused him of improperly sharing confidential information. The two sides settled their court case in November 2018.

The company did not respond to requests for comment from Reuters and its attorney in the Lochridge case, Thomas Gilman, declined comment. An attorney for Lochridge declined comment except to say, “We pray for everyone’s safe return.”

Months prior to the suit, a group of submersible industry leaders wrote to OceanGate warning that the “experimental” approach” to the sub’s development could result in “minor to catastrophic” problems, the New York Times reported.

US President Joe Biden was “watching events closely,” White House national security adviser John Kirby said on Tuesday. Britain’s King Charles asked to be kept apprised of the search, a Buckingham Palace source said, as Dawood is a longtime supporter of the monarch’s charity, the Prince’s Trust International.

OceanGate said it was “mobilising all options,” and US Coast Guard Rear Admiral John Mauger told NBC News the company was helping to guide the search efforts.

“They know that site better than anybody else,” Mauger said. “We’re working very closely with them to prioritise our underwater search efforts and get equipment there.”

Billionaire aboard

OceanGate schedules five week-long “missions” to the Titanic each summer, according to its website.

David Pogue, a CBS reporter, rode aboard the Titan last year. In a December news report, he read aloud the waiver he had to sign, which noted the submersible had “not been approved or certified by any regulatory body” and could result in death.

In an interview on Tuesday, Pogue said OceanGate has successfully ventured to the wreck around two dozen times and that the company conducts a meticulous safety check before each dive.

“They treat this thing like a space launch,” he said.

Harding, a UAE-based businessman and adventurer who is chairman of Action Aviation, posted a message on Facebook on Saturday, saying: “This mission is likely to be the first and only manned mission to the Titanic in 2023.”

Fellow tourist Dawood is vice chairman of Engro, one of Pakistan’s largest conglomerates.

The sinking of the Titanic, which killed more than 1,500 people, has been immortalized in books and films, including the 1997 blockbuster movie “Titanic,” which renewed popular interest in the wreck.

(France 24 with Reuters and AFP)

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PlayStation, treasure hunts and natural wonders: What life is like onboard a giant oil tanker

An oil tanker being serviced by a bunkering vessel.

Courtesy: Hafnia

If you think that life at sea is like the movie franchise “Pirates of the Caribbean,” think again.

The movies, which feature ambushes, looting and a drunken captain, are far from real life, according to shipping veteran Ralph Juhl.

“That is, of course, a lot of bollocks,” Juhl told CNBC by phone.

For starters, the consumption of alcohol is banned on many ships.

But there is one similarity with the movie, Juhl said: the code of conduct between seafarers. In the franchise, the Pirate’s Code was chronicled in a book kept by character Captain Teague, and loosely followed by some.

For those who sail for a living, there is a similar type of agreement, Juhl said.

The crew on board an oil tanker operated by Hafnia.

Courtesy: Hafnia

“Seafarers, no matter where they come from — India, Ukraine, Denmark, the Philippines — there is this conduct of how you behave on a ship … You can actually endanger both yourself and all of your colleagues if you are not playing that social game, being on board the ship. So, you take responsibility, you follow authority,” Juhl said.

Juhl, an executive vice-president at oil tanker firm Hafnia, has worked in the industry for several decades, starting as an ordinary seaman — the lowest rank of sailor — in 1983.

“When you as a seafarer [go] on board … you are a contribution to the society and you have to fit in … there is this code of the high seas,” he added.

A captain’s life

“Pirates of the Caribbean” is a seafaring stereotype familiar to Hafnia’s DSA Dixon, who has been a captain for five years. Dixon — who sails vessels known as product tankers, which transport both refined and unrefined petroleum products around the world — had to convince his parents-in-law that his role was nothing like the movie, he told CNBC by phone.

“A lot of people have a very different representation of a seafarer, looking at Pirates of the Caribbean,” he said.

Captain DSA Dixon (in black) says he invents games to keep his crew’s morale up during months at sea.

DSA Dixon | Hafnia

Dixon might be captaining a ship such as the huge Hafnia Rhine, which is about 230 meters long by 33 meters wide, with a capacity of more than 76,000 deadweight tons — a measure that includes the oil cargo, plus fuel, food, water and crew members, but not the weight of the ship itself.

Where the ship goes depends on where the demand for oil is and Dixon has sailed to every continent bar Antarctica, he said.

Dixon aims to keep to a schedule of three months at sea followed by three months at home in Mumbai, India, he said, and he started his most recent voyage on the Mississippi River in the U.S., sailing to Brazil and going on to Saudi Arabia via Gibraltar and the Suez Canal, before returning to Brazil.

The greatest part of my job is I’ve seen things that an average human being might not.

Compared to someone working an office job, Dixon said he spends more time with his wife and six-year-old son, as when he is at home he’s “completely” there. “I love this part of my life, because when I go back home, I’m Santa Claus,” he said. “It doesn’t get stagnated at any point – when it’s about to get stagnated, I’m back at sea.”

High days and holidays

Aside from navigation, Dixon said the most important part of his job is to keep the crew in good spirits, as they spend months at sea together.

“We have at times, 20, 25 people on board, they’re all different nationalities, different cultures, different languages … our ship is as good as the people on it,” Dixon said.

There’s no fixed daily routine, Dixon added. “There’s no one way to describe life on board. It’s challenging of course, but the challenge keeps you motivated all the time,” he said.

Along with navigation and managing the crew, Dixon might be talking to officials who come aboard when the ship is docked or coming up with ways to celebrate religious festivals.

The engine control room of an oil tanker. Hafnia Chief Engineer Dmytro Lifarenko spent around six months on board during the Covid-19 pandemic in 2020.

Courtesy: Hafnia

“Irrespective of nationality, or religion, people celebrate each other’s events or festivals,” Dixon said. “I even invent something like a treasure hunt on board. The ship is massive, I divide [crew] into teams … and let them find their own way,” Dixon added.

These games might sound “kiddish,” but they serve an important purpose, Dixon said. “These are grown-up men, some might be 50 years-old, and they’re doing this, but it’s the way to bond … we need to socialize and a happy ship is always an excellent vessel,” Dixon said.

Dixon makes sure the crew take Sundays off, spending it as they choose: perhaps playing PlayStation, chatting or sleeping. “I make sure there’s an excellent lunch,” Dixon added.

Traveling across oceans means getting to experience some of the world’s natural spectacles, with Dixon seeing the light phenomenon aurora borealis — also known as the northern lights — while sailing near Norway.

An aurora borealis light display in the southern part of Norway, one of the natural spectacles seen by oil tanker captain DSA Dixon during his seafaring life.

Heiko Junge | Afp | Getty Images

“The only regret I have is what I see I’m not able to share it, I want my family to see [things] at that very point, at that very moment, a photograph won’t capture it,” Dixon said. How did he feel seeing the lights? “You feel complete, I will say. You feel abundant,” he said.

“The greatest part of my job is I’ve seen things that an average human being might not,” he added.

Rough waters

Alongside enjoying scenes of wonder, life as a seafarer can be tough.

Hafnia Chief Engineer Dmytro Lifarenko is from Ukraine and was at home when Russia invaded the country in February 2022, fleeing with his wife and children across Europe to Valencia in Spain.

“I don’t know how I would handle … knowing that the bombs were there and I’m on board,” he told CNBC by phone, speculating about how he would have felt if he had been at sea when war broke out.

While his most recent voyage was five months long — sailing from Singapore to France and then Australia — he has recently taken extended leave to settle his family in their new home.

Chief Engineer Dmytro Lifarenko is from Ukraine and was at home when Russia invaded the country in February 2022. He has since moved with his family to Spain.

Dmytro Lifarenko | Hafnia

“I miss my family a lot during the voyage,” Lifarenko said — he and his wife have three children: a daughter of six months, six-year-old son and a 12-year-old daughter.

“Being two parents for three kids, this is fine. Being [effectively] a single mom for our kids, that’s very difficult … to be honest, this is the worst part of the job.”

This is something Juhl is sympathetic to: “That’s a big ‘uncomfort’ for many seafarers, that they are now so involved in their family [while at sea], even though they can’t do anything about it,” he said.

The boiler suit dressed man with a big spanner — it’s not the sailor that we’ll need in the future.

Ralph Juhl

Executive vice president, Hafnia

During the Covid-19 pandemic in 2020, Lifarenko spent about six months onboard, which is longer than his usual voyage. He said guided meditations sent to him by Hafnia were useful to deal with an uncertain situation.

“You keep thinking about the things that you actually cannot change, and that’s quite close to depression, but this [was] like a helpful hand,” he said.

But, despite some downsides, Lifarenko said he loves his job because of its variety. “You cannot say what is your routine, because the routine part is quite small. Most of the time, you are solving some situation, which requires you to use your brain, and you’re thinking, how to fix this … or how can we maintain this in a better way,” he said.

He has also enjoyed seeing the natural world while onboard, including spotting whales and sailing close to the volcanic Canary Islands.

Future sailors

Juhl spent more than a decade as a seafarer, starting at age 16 and sailing to places such as Honduras and South Korea, and becoming a navigator on chemical carrier ships before captaining ferries. He came onshore in 1997 and is now responsible for Hafnia’s technical operations. He described those onboard as “working their butts off.”

“They never go ashore anymore, there are terminals far away from cities and so on. So, this romantic life and impression of seafarers, it is pretty much gone. It’s hard work,” he said.

Oil tanker crew prepare mooring ropes to secure a bunker barge to their vessel for refueling.

Courtesy: Hafnia

This means attracting the next generation of crew is potentially tougher. “It’s a lonely life from time to time. And today you cannot offer young people loneliness,” he said.

Juhl wants to encourage more women to become seafarers and Hafnia is working on a pilot program to operate two ships where half the crew are female, to understand how the culture onboard might change, both positively and negatively, and how to solve that.

However, issues remain: Authorities in countries where women are discriminated against might not deal with female captains, for example, so Hafnia has had to temporarily assign a male captain for port stays in such places, Juhl said.

There has been internet access on board tankers for just a couple of years, Juhl added, and he wants to get creative about what might be possible as technology involves. 

He’s especially keen for sailors to be able to communicate with their families at home, he said.

“Hopefully we can soon make holograms where the captain can go to his cabin with his supper, and then he can open his hologram and he can sit and eat with his wife … we have to think that way,” Juhl said. And new technology will mean seafarers need different skills. “The boiler suit dressed man with a big spanner — it’s not the sailor that we’ll need in the future,” he said.

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