Napa Vineyards Adapting to Global Warming

(p. D8) Few in Napa Valley feel the urgency to address climate change more than Beth Novak Milliken, president and chief executive of Spottswoode, a family estate that makes superb cabernet sauvignons here on the western edge of St. Helena.

. . .

Ms. Milliken and Aron Weinkauf, the winemaker and vineyard manager, are experimenting with rootstocks that might do better in drought conditions, and grapes like alicante bouschet, mourvèdre and touriga nacional that, as Napa warms, might be blended with cabernet sauvignon to maintain freshness, structure and acidity.

. . .

Like Ms. Milliken, Larkmead is experimenting with different grapes. Mr. Petroski has already initiated a study, planting three acres with a variety of grapes like touriga nacional, tempranillo and aglianico to determine over the next 30 years what might be better able to withstand a hotter environment than cabernet sauvignon.

“I just want people to think that Napa Valley makes great, delicious California-style wines,” he said. “If this is a great vineyard site, it will grow great grapes. It doesn’t have to be only cabernet or merlot.”

For the full story, see:

Eric Asimov. “The Pour; Napa Valley Confronts Climate Change.” The New York Times (Wednesday, November 6, 2019): D8.

(Note: ellipses added.)

(Note: the online version of the story was updated Nov. 7 [sic], 2019, and has the title “The Pour; In Napa Valley, Winemakers Fight Climate Change on All Fronts.”)

“Climate Change Has Been Good for Us”

(p. A1) SLINDE, Norway—Perched on a steep slope overlooking the country’s largest fiord, tidy rows of vines spread on the frosted ground underneath towering pine trees.

On the 61st parallel—the latitude of Anchorage, Alaska— Bjorn Bergum’s vineyard is set to become the world’s northernmost commercial wine estate, a testimony to how global warming is disrupting century-old landscapes, traditions and oenological preconceptions.

“There is no doubt,” Mr. Bergum says. “Climate change has been good for us.”

. . .

(p. A9) “First we take Scandinavia, then the world,” says Erik Lindås, head of Norway’s nascent winegrowers association. “It’s motivating to work when people think you can’t make it. People laughed at English wine 15 years ago but they are not laughing anymore.”

Denmark and Sweden are commercially producing wines that have won international awards, while Britain and Belgium are experiencing a viticultural renaissance. Vintners in Germany, which has a proud winemaking tradition in the south, are exploring new terroirs farther north.

. . .

The northerners have a replique to southern arguments about boreal vineyards’ lack of tradition: During the so-called Medieval Climate Optimum, a warm spell from the ninth century to the 13th, winemaking thrived as far up as northern England and the Baltics.

Professor Hans R. Schultz, who studies climate change’s effects on viticulture at Germany’s Geisenheim University, says global warming is pulling the winemaking economy northward. In Germany’s terroirs, which used to lose entire harvests to cold spells, every vintage since 1987 was better than the previous, he says.

For the full story, see:

Bojan Pancevski. “New Wines Invade From Viking Terroir.” The Wall Street Journal (Wednesday, October 30, 2019): A1 & A9.

(Note: ellipses added; italics in original.)

(Note: the online version of the story has the date Oct. 29, 2019, and has the title “Chateau Viking: Climate Change Makes Northern Wine a Reality.”)

Theil Venture Capital Firm Will Invest More in Later Stage Startups

(p. B1) Peter Thiel’s venture-capital firm is raising nearly $3 billion—and in a switch from the company’s usual script, much of the war chest will be poured into the swelling ranks of technology startups that have stayed private for years.

. . .

The venture firm, co-founded by Mr. Thiel, typically backs early-stage companies. But with its biggest winners, like Airbnb Inc., staying private longer than startups of an earlier generation, Founders needs to be able to make larger investments at later stages of a company’s lifetime to maintain comparable stakes and a say in company operations, some of the people said.

. . .

Founders Fund has told potential investors that older companies that stay private longer can prove to be more stable, if less lucrative, investments than moonshot startup bets, according to the people familiar with the matter.

. . .

Founders has produced investment returns well-above the industry average, The Wall Street Journal reported earlier this year. Its earliest funds, from 2005 and 2007, grew sixfold and more than eightfold, respectively, by the third quarter of last year.

For the full story, see:

Rob Copeland and Katie Roof. “Thiel Fund Builds War Chest in Strategy Shift.” The Wall Street Journal (Tuesday, October 22, 2019): B1.

(Note: ellipses added.)

(Note: the online version of the story has the date Oct. 21, 2019, and has the title “Peter Thiel’s Founders Fund Builds New War Chest in Strategy Shift.” In the third passage quoted above, the quote follows the print version instead of the slightly different online version.)