Posted on 03/14/2023 12:09:28 AM PDT by dennisw
"Silicon Valley Bank was in many ways a climate bank," Kiran Bhatraju, the founder and CEO of Arcadia, the largest community-solar manager in the country, told the New York Times. "When you have the majority of the market banking through one institution, there's going to be a lot of collateral damage."
(WAAAGH)
The fall of Silicon Valley Bank leaves a major financing gap for companies developing climate solutions like solar farms and carbon-removal technology. That could make it harder for startups to get funding and scale their operations.
(WAAAGH)
SVB's website says the bank worked with more than 1,550 clients in the climate-tech and sustainability sector, particularly community solar. The bank also says it led or participated in 62% of community-solar financing deals, worth about $3.2 billion in total. And according to ImpactAlpha, SVB was a leading provider of venture debt to climate startups.
Ethan Cohen-Cole, the cofounder and CEO of Capture6, a startup developing facilities for carbon removal and storage, is an SVB client. Cohen-Cole told the Times that he expects to be able to pay his 20 employees because of the $250,000 insurance payout from the Federal Deposit Insurance Corporation. The company had about $4 million in accounts managed by SVB.
The fallout has led to a network of climate startups, venture-capital firms, and other lenders to mobilize their resources and help blunt the impact, Impact Alpha reported. A handful of fundraising initiatives emerged in recent days to help founders who need short-term cash. These include efforts by the Open Road Alliance, which provides bridge loans to social-impact companies, and Enduring Planet, which provides growth capital to climate entrepreneurs.
(Excerpt) Read more at msn.com ...
“Climate bank”? Dear Lord.
Investing in a hoax or lie and losing all my hard earned meager savings has been a lifelong dream. I bet that is why I cannot answer my phone ……
“Climate bank’’?
What’s that?
Something that floats around in the clouds?
When answering machines first came out I bought one and the message I put on it was “I can’t come to the phone right now because I’ve fallen and I can’t get up!’’
I had to change it eventually because my friends and family and business concerns were getting.... concerned.
Use the student loan loot.
with links to relevant articles. this needs to be spread far and wide. never been a better time to exploit the situation and end the climate scam:
13 March: ClimateDepot: Marc Morano: Bank of England Downgrades Net Zero & Will Cut Spending for its Work on Climate Change – Shift ‘to focus on core areas’
Bloomberg: Cost pressures prompt central bank to focus on core areas... Climate programs will slip lower on the central bank’s agenda so officials can focus more on the core operations such as financial stability, markets and a digital currency, according to a person with knowledge of the situation who asked not to be named. The BOE’s climate work currently focuses on building ESG disclosure guidelines, preparing insurers for risks from rising global temperatures and getting banks to carbon-test their balance sheets...
https://www.climatedepot.com/2023/03/13/bank-of-england-downgrades-net-zero-will-cut-spending-for-its-work-on-climate-change-shift-to-focus-on-core-areas/
with links to relevant articles. this needs to be spread far and wide. never been a better time to exploit the situation and end the climate scam:
13 March: ClimateDepot: Marc Morano: Bank of England Downgrades Net Zero & Will Cut Spending for its Work on Climate Change – Shift ‘to focus on core areas’
Bloomberg: Cost pressures prompt central bank to focus on core areas... Climate programs will slip lower on the central bank’s agenda so officials can focus more on the core operations such as financial stability, markets and a digital currency, according to a person with knowledge of the situation who asked not to be named. The BOE’s climate work currently focuses on building ESG disclosure guidelines, preparing insurers for risks from rising global temperatures and getting banks to carbon-test their balance sheets...
https://www.climatedepot.com/2023/03/13/bank-of-england-downgrades-net-zero-will-cut-spending-for-its-work-on-climate-change-shift-to-focus-on-core-areas/
Another democrat laundry machine down
“carbon-removal technology”
What kind of insane thinking is this? Do they honestly think removing carbon to any degree is going to make one iota of a difference in the climate? The atmosphere is 5,000 QUADRILLION metric tons, something that size might as well be infinity when it comes to man!! This is like saying “we are going to stop people from urinating in the ocean otherwise it will turn yellow”
I once read the earth has around 70,000 wildfires and 80 erupting volcanoes every year. How are they going to stop that? They can’t even stop Californias wildfires. And someone should remind these clowns: The percentage of CO2 in the atmosphere is only 0.04% If that level ever got to 0.02% plants start dying off and when that happens, guess who is next?
Do venture capitalists actually give money to climate startups? Are they that insane?
“carbon-removal technology”
Complete lunacy for the reasons you mention. I’ll bet the trillion or so Biden is giving away for global warming projects. That 5-10 of them have to do with CO2 removal/sequestration. This is a welfare scam for nutty scientists.
Plant millions of trees for carbon sequestration. Even Trump said this. Do this is in marginal, dry areas. In national parks too. Keep them irrigated via water tanker trucks. This would be a better way for the feds to spend billions on CO2 sequestration.
Consult with Israel. They have been doing this for decades.
The silver lining of the banks failure.
Beavens to Hetsy! Noooose!/s
Big f@#$ing vacuum cleaner with a filter. They’ll trap it and use it to blow up their own a@@es, I think, hoping to dislodge their brains from there.
Joe Biden (Liar in Chief) said the bailout will not cost the taxpayers any money. This is a lie. It is true it will not come out of the treasury. It will come out of the FDIC insurance fund. This fund is established by fees on all banks that are part of the FDIC. The max coverage per depositor is 250K. In effect Biden waived this limit to bail out rich and leftists depositors. To keep this fund solvent the banks will have to increase fees on their customers. That is you and me.
The bailout will cost the taxpayers via additional banking fees. Joe Biden is a liar.
Have a SIL that is a jokester. Sounds like something he would do. I’ll pass this on to him. Thank You
The Federal Government will take over lending for these projects. And woth the Feds requiring ESG for investing there will be no where to turn but the Federal Government.
Why? Because they fail and the bank loses its money?
Who coulda guessed that...
Well That IS a Positive Note!
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