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Natural Resources

Jul 30, 2014

2.73k likes | 8.85k Views

Natural Resources. What are natural resources ?. A natural resource is something found in nature that people can use to meet their needs. How many natural resources can you write in your science notebook? Draw a quick picture to go with each one. What are some natural resources ?.

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What are natural resources? • A natural resource is something found in nature that people can use to meet their needs. How many natural resources can you write in your science notebook? Draw a quick picture to go with each one.

What are some natural resources? • Air (oxygen) • Water • Soil • Trees/Plants • Rocks/Minerals • Sun

Let’s take a look at how we use Natural Resources

Uses of Air • Humans use air to help them breathe. • Moving air can be used to make electricity. • Air can be used to help objects to fly.

Uses of Water • Humans drink water so they can live. • Plants use water to help them grow. • Water can be used to make electricity.

DAM: turns water into electricity.

Uses of Soil • People use soil to grow crops (food). • People use soil to make bricks which are used to build things.

Crops Build Things

Uses of Trees & Plants • Trees are used to make paper, furniture and homes. • Plants can be used to make cloth for clothes, sheets, and many other products. • People and animals use plants for food.

Paper TREES USED TO MAKE Buildings Furniture

Cloth Plants are used for: Food

Uses of Rocks • Rocks are used to build things, such as houses and roads. • Rocks are used to make sculptures.

Sculpture: Mount Rushmore Roads

Minerals • Minerals are found in rocks. • Examples of minerals are: 1. iron 2. copper 3. diamonds

Uses of Minerals • Minerals are used to make coins. • Minerals are used to make furniture. • Minerals are used to make jewelry.

Furniture Gate Coins Jewelry

Uses of Sun • The sun provides heat and light. • The sun can be used to make electricity.

Solar Panels: change the sun’s rays to electricity

REMEMBER • Natural resources are things found in nature that people use to meet their needs. • Manmade resources are things that people make from natural resources. Can you think of some examples of natural and manmade resources?

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Unit 3 Lesson 2 Natural Resources

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Reduce reuse recycle to conserve natural resources

Environmental Pollution in the Moscow Region According to Long-term Roshydromet Monitoring Data

  • Published: 02 November 2020
  • Volume 45 , pages 523–532, ( 2020 )

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  • G. M. Chernogaeva 1 , 2 ,
  • L. R. Zhuravleva 1 ,
  • Yu. A. Malevanov 1 ,
  • N. A. Fursov 3 ,
  • G. V. Pleshakova 3 &
  • T. B. Trifilenkova 3  

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Long-term Roshydromet monitoring data (2009–2018) on the pollution of the atmosphere, soil, and surface water are considered for the Moscow region (Moscow city within its new boundaries and the Moscow oblast). The air quality in the megacity (Moscow) and in background conditions (Prioksko-Terrasny Reserve) is compared.

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Authors and affiliations.

Izrael Institute of Global Climate and Ecology, 107258, Moscow, Russia

G. M. Chernogaeva, L. R. Zhuravleva & Yu. A. Malevanov

Institute of Geography, Russian Academy of Sciences, 119017, Moscow, Russia

G. M. Chernogaeva

Central Administration for Hydrometeorology and Environmental Monitoring, 127055, Moscow, Russia

N. A. Fursov, G. V. Pleshakova & T. B. Trifilenkova

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Correspondence to G. M. Chernogaeva .

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Russian Text ©The Author(s), 2020, published in Meteorologiya i Gidrologiya, 2020, No. 8, pp. 9-21.

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Chernogaeva, G.M., Zhuravleva, L.R., Malevanov, Y.A. et al. Environmental Pollution in the Moscow Region According to Long-term Roshydromet Monitoring Data . Russ. Meteorol. Hydrol. 45 , 523–532 (2020). https://doi.org/10.3103/S1068373920080014

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Received : 06 February 2020

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Accepted : 06 February 2020

Published : 02 November 2020

Issue Date : August 2020

DOI : https://doi.org/10.3103/S1068373920080014

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MSU Extension Natural Resources

“wild about conservation” webinar series starts in june.

Beth Clawson <[email protected]> , Michigan State University Extension - May 23, 2024

Updated from an original article written by Paige Filice, Michigan State University Extension.

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Learn ways you can help to conserve land and contribute to climate change resiliency and sustainability.

For decorative purposes.

What we do in our yards and neighborhoods impacts local wildlife and the quality of water in our soil, land, lakes, and rivers. No matter the size, our yards can serve as a refuge for unique plants and animals. From landscaping with native trees and shrubs to adding water features; even the smallest of things that we do can help.

Join us as we enter our fifth year featuring experts from Michigan State University Extension and supporting organizations who will discuss conservation practices that you can implement in your yard today to help you remain resilient to climate change. Registration is free for the entire series. You can take part in one or all eight of the Wild About Conservation webinars from the comfort of your home. Webinars will take place on Tuesdays twice a month beginning on June 11 at 1 p.m. Each webinar will address a unique topic related to conservation and will feature an MSU Extension professional or experienced guest speaker.

Anyone can register at any time during the series. Once registered you will receive a link to all the recorded webinars.

Click Here to Register for the Webinar Series

2024 Wild About Conservation Webinar Series Schedule

June 11: what is climate.

Kicking off the series with exploring the fundamental difference between what is weather and what is climate, and why we are calling it a crisis.

June 25: How can compost help our climate?

Composting is not only one aspect of sustainability, it also helps reduce harmful climate gas releases from landfills.

July 9: Tree migration

How much assistance do they need? Join us as we examine strategic ways to encourage forest diversity by actively establishing southern tree species in northern settings.

July 23: Managing stormwater

Stormwater management is an ongoing concern for any rain event. It is increasingly so when faced with erratic weather patterns related to climate change.

August 13: Resilient shorelines

Discover how to protect shorelines on Michigan's lakes, including from water quality issues related to increased variable weather events, and preventing erosion, poor water quality, and loss of fish and wildlife habitat.

August 27: Guiding neighborhood trees through climate change

Journey with us as we explore the effects of climate change on yard trees and what we can do to mitigate negative effects.

September 10: Reforest Vine urban forest restoration

Case Study: Their mission is simple yet impactful: to create an urban forest by planting in small spaces like curb lawns. Starting with one small tree to enhance improvements in air quality, and space and food for local wildlife.

September 24: Rare species and the impact of climate change

Gather around for a lively panel discussion with Michigan Natural Features Inventory panelists Ashley Cole-Wick, Logan Rowe, and Julie Mclaughlin as they discuss how climate change affects different endangered species in Michigan.

The cost to participate is FREE. To register, visit the registration website for Wild About: Conservation webinar series. The webinars will be recorded and made available approximately a week later. Please contact Beth Clawson at [email protected] with questions about this summer webinar series.

This article was published by Michigan State University Extension . For more information, visit https://extension.msu.edu . To have a digest of information delivered straight to your email inbox, visit https://extension.msu.edu/newsletters . To contact an expert in your area, visit https://extension.msu.edu/experts , or call 888-MSUE4MI (888-678-3464).

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Harmful Algal Blooms and Your Health

Harmful algal blooms are the rapid growth of algae or cyanobacteria in water that can harm people, animals, or the environment.

  • Going in or near water with a harmful algal bloom can make you and your animals sick.
  • Stay out if water looks discolored, has scum, or smells bad.

Small boat in a lake filled with bright green algae

Algae and cyanobacteria (also called blue-green algae) are plant-like organisms that live in water. They can quickly grow out of control, or "bloom." Some of these blooms produce toxins (poisons) that make people and animals sick.

What they look like

Harmful algal blooms can look like foam, scum, mats, or paint on the surface of the water. They can also grow underneath the water, making some harmful algal blooms hard to see.

Water with blue-green algae that looks like spilled paint along a sandy shore.

When they're harmful

Not all blooms are harmful. Blooms of algae or cyanobacteria can harm people, animals, or the environment if they:

  • Make toxins
  • Become too dense
  • Use up oxygen in the water
  • Release harmful gases

Many different types of algae can cause harmful algal blooms. However, three types —cyanobacteria, dinoflagellates, and diatoms—cause most blooms that make people and animals sick.

Lake with green water surrounded by bushes and trees

Where they're found

Harmful algal blooms can grow in fresh water, salt water, or brackish water (a mixture of fresh and salt water). This includes water people use for recreation and for drinking.

Harmful algal blooms occur across the world. In the United States, they have been reported in all 50 states, Puerto Rico, and the U.S. Virgin Islands.

What causes them

Algae and cyanobacteria occur naturally in water. They are more likely to grow into a harmful algal bloom when water is:

  • Slow-moving
  • Full of nutrients, such as nitrogen or phosphorous

Nutrients get into water when fertilizer, sewage, or runoff from cities and industrial buildings washes into lakes, rivers, or oceans. This can happen during rainstorms, for example.

Environmental changes, such as warmer water, might be making harmful algal blooms worse.

Learn more about factors that help harmful algal blooms grow .

Health impacts

Harmful algal blooms cause a variety of mild to serious illnesses. Symptoms depend on the type of harmful algal bloom you come in contact with and how you are exposed.

Harmful agal blooms can be deadly for animals‎

Risk of exposure.

People and animals can get sick from having contact with water or food that contains certain types of algae, cyanobacteria, or their toxins .

You or your animals can get sick if you:

  • Go in or near water contaminated by a harmful algal bloom
  • Swallow contaminated water
  • Eat contaminated shellfish or fish
  • Use contaminated blue-green algae dietary supplements

Preventing exposure

You can take steps to avoid getting sick from harmful algal blooms. For example:

  • Stay out of discolored, scummy, or smelly water and keep pets away.
  • Check for and follow swimming, fishing, and shellfish advisories.
  • Follow guidance from local officials if there is a harmful algal bloom in your drinking water supply.

After exposure

If you or your animal go in water with an algal bloom, rinse off with tap water right after.

If you think you have symptoms caused by a harmful algal bloom, contact a healthcare provider or the Poison Control hotline at 1-800-222-1222.

If your pets or livestock seem sick after going in or near water, contact a veterinarian right away. You can also call the ASPCA Animal Poison Control Center at 1-888-426-4435 or the Pet Poison Helpline at 1-855-764-7661. Note that there is a fee for these calls.

What CDC is doing

CDC works with federal, state, local, and territorial partners to reduce the health impact of harmful algal blooms. This includes:

  • Public health research
  • Tracking harmful algal blooms and illnesses
  • Developing methods to detect toxins
  • Outreach and education
  • Providing health departments with financial and technical support

Find data‎

  • Harmful Algal Blooms | NOAA
  • Harmful Algal Blooms in Water Bodies | U.S. EPA
  • The Science of Harmful Algal Blooms | U.S. Geological Survey
  • Blue-Green Algae Products and Microcystins | FDA

Harmful Algal Bloom (HAB)-Associated Illness

McKinsey Global Private Markets Review 2024: Private markets in a slower era

At a glance, macroeconomic challenges continued.

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McKinsey Global Private Markets Review 2024: Private markets: A slower era

If 2022 was a tale of two halves, with robust fundraising and deal activity in the first six months followed by a slowdown in the second half, then 2023 might be considered a tale of one whole. Macroeconomic headwinds persisted throughout the year, with rising financing costs, and an uncertain growth outlook taking a toll on private markets. Full-year fundraising continued to decline from 2021’s lofty peak, weighed down by the “denominator effect” that persisted in part due to a less active deal market. Managers largely held onto assets to avoid selling in a lower-multiple environment, fueling an activity-dampening cycle in which distribution-starved limited partners (LPs) reined in new commitments.

About the authors

This article is a summary of a larger report, available as a PDF, that is a collaborative effort by Fredrik Dahlqvist , Alastair Green , Paul Maia, Alexandra Nee , David Quigley , Aditya Sanghvi , Connor Mangan, John Spivey, Rahel Schneider, and Brian Vickery , representing views from McKinsey’s Private Equity & Principal Investors Practice.

Performance in most private asset classes remained below historical averages for a second consecutive year. Decade-long tailwinds from low and falling interest rates and consistently expanding multiples seem to be things of the past. As private market managers look to boost performance in this new era of investing, a deeper focus on revenue growth and margin expansion will be needed now more than ever.

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Perspectives on a slower era in private markets

Global fundraising contracted.

Fundraising fell 22 percent across private market asset classes globally to just over $1 trillion, as of year-end reported data—the lowest total since 2017. Fundraising in North America, a rare bright spot in 2022, declined in line with global totals, while in Europe, fundraising proved most resilient, falling just 3 percent. In Asia, fundraising fell precipitously and now sits 72 percent below the region’s 2018 peak.

Despite difficult fundraising conditions, headwinds did not affect all strategies or managers equally. Private equity (PE) buyout strategies posted their best fundraising year ever, and larger managers and vehicles also fared well, continuing the prior year’s trend toward greater fundraising concentration.

The numerator effect persisted

Despite a marked recovery in the denominator—the 1,000 largest US retirement funds grew 7 percent in the year ending September 2023, after falling 14 percent the prior year, for example 1 “U.S. retirement plans recover half of 2022 losses amid no-show recession,” Pensions and Investments , February 12, 2024. —many LPs remain overexposed to private markets relative to their target allocations. LPs started 2023 overweight: according to analysis from CEM Benchmarking, average allocations across PE, infrastructure, and real estate were at or above target allocations as of the beginning of the year. And the numerator grew throughout the year, as a lack of exits and rebounding valuations drove net asset values (NAVs) higher. While not all LPs strictly follow asset allocation targets, our analysis in partnership with global private markets firm StepStone Group suggests that an overallocation of just one percentage point can reduce planned commitments by as much as 10 to 12 percent per year for five years or more.

Despite these headwinds, recent surveys indicate that LPs remain broadly committed to private markets. In fact, the majority plan to maintain or increase allocations over the medium to long term.

Investors fled to known names and larger funds

Fundraising concentration reached its highest level in over a decade, as investors continued to shift new commitments in favor of the largest fund managers. The 25 most successful fundraisers collected 41 percent of aggregate commitments to closed-end funds (with the top five managers accounting for nearly half that total). Closed-end fundraising totals may understate the extent of concentration in the industry overall, as the largest managers also tend to be more successful in raising non-institutional capital.

While the largest funds grew even larger—the largest vehicles on record were raised in buyout, real estate, infrastructure, and private debt in 2023—smaller and newer funds struggled. Fewer than 1,700 funds of less than $1 billion were closed during the year, half as many as closed in 2022 and the fewest of any year since 2012. New manager formation also fell to the lowest level since 2012, with just 651 new firms launched in 2023.

Whether recent fundraising concentration and a spate of M&A activity signals the beginning of oft-rumored consolidation in the private markets remains uncertain, as a similar pattern developed in each of the last two fundraising downturns before giving way to renewed entrepreneurialism among general partners (GPs) and commitment diversification among LPs. Compared with how things played out in the last two downturns, perhaps this movie really is different, or perhaps we’re watching a trilogy reusing a familiar plotline.

Dry powder inventory spiked (again)

Private markets assets under management totaled $13.1 trillion as of June 30, 2023, and have grown nearly 20 percent per annum since 2018. Dry powder reserves—the amount of capital committed but not yet deployed—increased to $3.7 trillion, marking the ninth consecutive year of growth. Dry powder inventory—the amount of capital available to GPs expressed as a multiple of annual deployment—increased for the second consecutive year in PE, as new commitments continued to outpace deal activity. Inventory sat at 1.6 years in 2023, up markedly from the 0.9 years recorded at the end of 2021 but still within the historical range. NAV grew as well, largely driven by the reluctance of managers to exit positions and crystallize returns in a depressed multiple environment.

Private equity strategies diverged

Buyout and venture capital, the two largest PE sub-asset classes, charted wildly different courses over the past 18 months. Buyout notched its highest fundraising year ever in 2023, and its performance improved, with funds posting a (still paltry) 5 percent net internal rate of return through September 30. And although buyout deal volumes declined by 19 percent, 2023 was still the third-most-active year on record. In contrast, venture capital (VC) fundraising declined by nearly 60 percent, equaling its lowest total since 2015, and deal volume fell by 36 percent to the lowest level since 2019. VC funds returned –3 percent through September, posting negative returns for seven consecutive quarters. VC was the fastest-growing—as well as the highest-performing—PE strategy by a significant margin from 2010 to 2022, but investors appear to be reevaluating their approach in the current environment.

Private equity entry multiples contracted

PE buyout entry multiples declined by roughly one turn from 11.9 to 11.0 times EBITDA, slightly outpacing the decline in public market multiples (down from 12.1 to 11.3 times EBITDA), through the first nine months of 2023. For nearly a decade leading up to 2022, managers consistently sold assets into a higher-multiple environment than that in which they had bought those assets, providing a substantial performance tailwind for the industry. Nowhere has this been truer than in technology. After experiencing more than eight turns of multiple expansion from 2009 to 2021 (the most of any sector), technology multiples have declined by nearly three turns in the past two years, 50 percent more than in any other sector. Overall, roughly two-thirds of the total return for buyout deals that were entered in 2010 or later and exited in 2021 or before can be attributed to market multiple expansion and leverage. Now, with falling multiples and higher financing costs, revenue growth and margin expansion are taking center stage for GPs.

Real estate receded

Demand uncertainty, slowing rent growth, and elevated financing costs drove cap rates higher and made price discovery challenging, all of which weighed on deal volume, fundraising, and investment performance. Global closed-end fundraising declined 34 percent year over year, and funds returned −4 percent in the first nine months of the year, losing money for the first time since the 2007–08 global financial crisis. Capital shifted away from core and core-plus strategies as investors sought liquidity via redemptions in open-end vehicles, from which net outflows reached their highest level in at least two decades. Opportunistic strategies benefited from this shift, with investors focusing on capital appreciation over income generation in a market where alternative sources of yield have grown more attractive. Rising interest rates widened bid–ask spreads and impaired deal volume across food groups, including in what were formerly hot sectors: multifamily and industrial.

Private debt pays dividends

Debt again proved to be the most resilient private asset class against a turbulent market backdrop. Fundraising declined just 13 percent, largely driven by lower commitments to direct lending strategies, for which a slower PE deal environment has made capital deployment challenging. The asset class also posted the highest returns among all private asset classes through September 30. Many private debt securities are tied to floating rates, which enhance returns in a rising-rate environment. Thus far, managers appear to have successfully navigated the rising incidence of default and distress exhibited across the broader leveraged-lending market. Although direct lending deal volume declined from 2022, private lenders financed an all-time high 59 percent of leveraged buyout transactions last year and are now expanding into additional strategies to drive the next era of growth.

Infrastructure took a detour

After several years of robust growth and strong performance, infrastructure and natural resources fundraising declined by 53 percent to the lowest total since 2013. Supply-side timing is partially to blame: five of the seven largest infrastructure managers closed a flagship vehicle in 2021 or 2022, and none of those five held a final close last year. As in real estate, investors shied away from core and core-plus investments in a higher-yield environment. Yet there are reasons to believe infrastructure’s growth will bounce back. Limited partners (LPs) surveyed by McKinsey remain bullish on their deployment to the asset class, and at least a dozen vehicles targeting more than $10 billion were actively fundraising as of the end of 2023. Multiple recent acquisitions of large infrastructure GPs by global multi-asset-class managers also indicate marketwide conviction in the asset class’s potential.

Private markets still have work to do on diversity

Private markets firms are slowly improving their representation of females (up two percentage points over the prior year) and ethnic and racial minorities (up one percentage point). On some diversity metrics, including entry-level representation of women, private markets now compare favorably with corporate America. Yet broad-based parity remains elusive and too slow in the making. Ethnic, racial, and gender imbalances are particularly stark across more influential investing roles and senior positions. In fact, McKinsey’s research  reveals that at the current pace, it would take several decades for private markets firms to reach gender parity at senior levels. Increasing representation across all levels will require managers to take fresh approaches to hiring, retention, and promotion.

Artificial intelligence generating excitement

The transformative potential of generative AI was perhaps 2023’s hottest topic (beyond Taylor Swift). Private markets players are excited about the potential for the technology to optimize their approach to thesis generation, deal sourcing, investment due diligence, and portfolio performance, among other areas. While the technology is still nascent and few GPs can boast scaled implementations, pilot programs are already in flight across the industry, particularly within portfolio companies. Adoption seems nearly certain to accelerate throughout 2024.

Private markets in a slower era

If private markets investors entered 2023 hoping for a return to the heady days of 2021, they likely left the year disappointed. Many of the headwinds that emerged in the latter half of 2022 persisted throughout the year, pressuring fundraising, dealmaking, and performance. Inflation moderated somewhat over the course of the year but remained stubbornly elevated by recent historical standards. Interest rates started high and rose higher, increasing the cost of financing. A reinvigorated public equity market recovered most of 2022’s losses but did little to resolve the valuation uncertainty private market investors have faced for the past 18 months.

Within private markets, the denominator effect remained in play, despite the public market recovery, as the numerator continued to expand. An activity-dampening cycle emerged: higher cost of capital and lower multiples limited the ability or willingness of general partners (GPs) to exit positions; fewer exits, coupled with continuing capital calls, pushed LP allocations higher, thereby limiting their ability or willingness to make new commitments. These conditions weighed on managers’ ability to fundraise. Based on data reported as of year-end 2023, private markets fundraising fell 22 percent from the prior year to just over $1 trillion, the largest such drop since 2009 (Exhibit 1).

The impact of the fundraising environment was not felt equally among GPs. Continuing a trend that emerged in 2022, and consistent with prior downturns in fundraising, LPs favored larger vehicles and the scaled GPs that typically manage them. Smaller and newer managers struggled, and the number of sub–$1 billion vehicles and new firm launches each declined to its lowest level in more than a decade.

Despite the decline in fundraising, private markets assets under management (AUM) continued to grow, increasing 12 percent to $13.1 trillion as of June 30, 2023. 2023 fundraising was still the sixth-highest annual haul on record, pushing dry powder higher, while the slowdown in deal making limited distributions.

Investment performance across private market asset classes fell short of historical averages. Private equity (PE) got back in the black but generated the lowest annual performance in the past 15 years, excluding 2022. Closed-end real estate produced negative returns for the first time since 2009, as capitalization (cap) rates expanded across sectors and rent growth dissipated in formerly hot sectors, including multifamily and industrial. The performance of infrastructure funds was less than half of its long-term average and even further below the double-digit returns generated in 2021 and 2022. Private debt was the standout performer (if there was one), outperforming all other private asset classes and illustrating the asset class’s countercyclical appeal.

Private equity down but not out

Higher financing costs, lower multiples, and an uncertain macroeconomic environment created a challenging backdrop for private equity managers in 2023. Fundraising declined for the second year in a row, falling 15 percent to $649 billion, as LPs grappled with the denominator effect and a slowdown in distributions. Managers were on the fundraising trail longer to raise this capital: funds that closed in 2023 were open for a record-high average of 20.1 months, notably longer than 18.7 months in 2022 and 14.1 months in 2018. VC and growth equity strategies led the decline, dropping to their lowest level of cumulative capital raised since 2015. Fundraising in Asia fell for the fourth year of the last five, with the greatest decline in China.

Despite the difficult fundraising context, a subset of strategies and managers prevailed. Buyout managers collectively had their best fundraising year on record, raising more than $400 billion. Fundraising in Europe surged by more than 50 percent, resulting in the region’s biggest haul ever. The largest managers raised an outsized share of the total for a second consecutive year, making 2023 the most concentrated fundraising year of the last decade (Exhibit 2).

Despite the drop in aggregate fundraising, PE assets under management increased 8 percent to $8.2 trillion. Only a small part of this growth was performance driven: PE funds produced a net IRR of just 2.5 percent through September 30, 2023. Buyouts and growth equity generated positive returns, while VC lost money. PE performance, dating back to the beginning of 2022, remains negative, highlighting the difficulty of generating attractive investment returns in a higher interest rate and lower multiple environment. As PE managers devise value creation strategies to improve performance, their focus includes ensuring operating efficiency and profitability of their portfolio companies.

Deal activity volume and count fell sharply, by 21 percent and 24 percent, respectively, which continued the slower pace set in the second half of 2022. Sponsors largely opted to hold assets longer rather than lock in underwhelming returns. While higher financing costs and valuation mismatches weighed on overall deal activity, certain types of M&A gained share. Add-on deals, for example, accounted for a record 46 percent of total buyout deal volume last year.

Real estate recedes

For real estate, 2023 was a year of transition, characterized by a litany of new and familiar challenges. Pandemic-driven demand issues continued, while elevated financing costs, expanding cap rates, and valuation uncertainty weighed on commercial real estate deal volumes, fundraising, and investment performance.

Managers faced one of the toughest fundraising environments in many years. Global closed-end fundraising declined 34 percent to $125 billion. While fundraising challenges were widespread, they were not ubiquitous across strategies. Dollars continued to shift to large, multi-asset class platforms, with the top five managers accounting for 37 percent of aggregate closed-end real estate fundraising. In April, the largest real estate fund ever raised closed on a record $30 billion.

Capital shifted away from core and core-plus strategies as investors sought liquidity through redemptions in open-end vehicles and reduced gross contributions to the lowest level since 2009. Opportunistic strategies benefited from this shift, as investors turned their attention toward capital appreciation over income generation in a market where alternative sources of yield have grown more attractive.

In the United States, for instance, open-end funds, as represented by the National Council of Real Estate Investment Fiduciaries Fund Index—Open-End Equity (NFI-OE), recorded $13 billion in net outflows in 2023, reversing the trend of positive net inflows throughout the 2010s. The negative flows mainly reflected $9 billion in core outflows, with core-plus funds accounting for the remaining outflows, which reversed a 20-year run of net inflows.

As a result, the NAV in US open-end funds fell roughly 16 percent year over year. Meanwhile, global assets under management in closed-end funds reached a new peak of $1.7 trillion as of June 2023, growing 14 percent between June 2022 and June 2023.

Real estate underperformed historical averages in 2023, as previously high-performing multifamily and industrial sectors joined office in producing negative returns caused by slowing demand growth and cap rate expansion. Closed-end funds generated a pooled net IRR of −3.5 percent in the first nine months of 2023, losing money for the first time since the global financial crisis. The lone bright spot among major sectors was hospitality, which—thanks to a rush of postpandemic travel—returned 10.3 percent in 2023. 2 Based on NCREIFs NPI index. Hotels represent 1 percent of total properties in the index. As a whole, the average pooled lifetime net IRRs for closed-end real estate funds from 2011–20 vintages remained around historical levels (9.8 percent).

Global deal volume declined 47 percent in 2023 to reach a ten-year low of $650 billion, driven by widening bid–ask spreads amid valuation uncertainty and higher costs of financing (Exhibit 3). 3 CBRE, Real Capital Analytics Deal flow in the office sector remained depressed, partly as a result of continued uncertainty in the demand for space in a hybrid working world.

During a turbulent year for private markets, private debt was a relative bright spot, topping private markets asset classes in terms of fundraising growth, AUM growth, and performance.

Fundraising for private debt declined just 13 percent year over year, nearly ten percentage points less than the private markets overall. Despite the decline in fundraising, AUM surged 27 percent to $1.7 trillion. And private debt posted the highest investment returns of any private asset class through the first three quarters of 2023.

Private debt’s risk/return characteristics are well suited to the current environment. With interest rates at their highest in more than a decade, current yields in the asset class have grown more attractive on both an absolute and relative basis, particularly if higher rates sustain and put downward pressure on equity returns (Exhibit 4). The built-in security derived from debt’s privileged position in the capital structure, moreover, appeals to investors that are wary of market volatility and valuation uncertainty.

Direct lending continued to be the largest strategy in 2023, with fundraising for the mostly-senior-debt strategy accounting for almost half of the asset class’s total haul (despite declining from the previous year). Separately, mezzanine debt fundraising hit a new high, thanks to the closings of three of the largest funds ever raised in the strategy.

Over the longer term, growth in private debt has largely been driven by institutional investors rotating out of traditional fixed income in favor of private alternatives. Despite this growth in commitments, LPs remain underweight in this asset class relative to their targets. In fact, the allocation gap has only grown wider in recent years, a sharp contrast to other private asset classes, for which LPs’ current allocations exceed their targets on average. According to data from CEM Benchmarking, the private debt allocation gap now stands at 1.4 percent, which means that, in aggregate, investors must commit hundreds of billions in net new capital to the asset class just to reach current targets.

Private debt was not completely immune to the macroeconomic conditions last year, however. Fundraising declined for the second consecutive year and now sits 23 percent below 2021’s peak. Furthermore, though private lenders took share in 2023 from other capital sources, overall deal volumes also declined for the second year in a row. The drop was largely driven by a less active PE deal environment: private debt is predominantly used to finance PE-backed companies, though managers are increasingly diversifying their origination capabilities to include a broad new range of companies and asset types.

Infrastructure and natural resources take a detour

For infrastructure and natural resources fundraising, 2023 was an exceptionally challenging year. Aggregate capital raised declined 53 percent year over year to $82 billion, the lowest annual total since 2013. The size of the drop is particularly surprising in light of infrastructure’s recent momentum. The asset class had set fundraising records in four of the previous five years, and infrastructure is often considered an attractive investment in uncertain markets.

While there is little doubt that the broader fundraising headwinds discussed elsewhere in this report affected infrastructure and natural resources fundraising last year, dynamics specific to the asset class were at play as well. One issue was supply-side timing: nine of the ten largest infrastructure GPs did not close a flagship fund in 2023. Second was the migration of investor dollars away from core and core-plus investments, which have historically accounted for the bulk of infrastructure fundraising, in a higher rate environment.

The asset class had some notable bright spots last year. Fundraising for higher-returning opportunistic strategies more than doubled the prior year’s total (Exhibit 5). AUM grew 18 percent, reaching a new high of $1.5 trillion. Infrastructure funds returned a net IRR of 3.4 percent in 2023; this was below historical averages but still the second-best return among private asset classes. And as was the case in other asset classes, investors concentrated commitments in larger funds and managers in 2023, including in the largest infrastructure fund ever raised.

The outlook for the asset class, moreover, remains positive. Funds targeting a record amount of capital were in the market at year-end, providing a robust foundation for fundraising in 2024 and 2025. A recent spate of infrastructure GP acquisitions signal multi-asset managers’ long-term conviction in the asset class, despite short-term headwinds. Global megatrends like decarbonization and digitization, as well as revolutions in energy and mobility, have spurred new infrastructure investment opportunities around the world, particularly for value-oriented investors that are willing to take on more risk.

Private markets make measured progress in DEI

Diversity, equity, and inclusion (DEI) has become an important part of the fundraising, talent, and investing landscape for private market participants. Encouragingly, incremental progress has been made in recent years, including more diverse talent being brought to entry-level positions, investing roles, and investment committees. The scope of DEI metrics provided to institutional investors during fundraising has also increased in recent years: more than half of PE firms now provide data across investing teams, portfolio company boards, and portfolio company management (versus investment team data only). 4 “ The state of diversity in global private markets: 2023 ,” McKinsey, August 22, 2023.

In 2023, McKinsey surveyed 66 global private markets firms that collectively employ more than 60,000 people for the second annual State of diversity in global private markets report. 5 “ The state of diversity in global private markets: 2023 ,” McKinsey, August 22, 2023. The research offers insight into the representation of women and ethnic and racial minorities in private investing as of year-end 2022. In this chapter, we discuss where the numbers stand and how firms can bring a more diverse set of perspectives to the table.

The statistics indicate signs of modest advancement. Overall representation of women in private markets increased two percentage points to 35 percent, and ethnic and racial minorities increased one percentage point to 30 percent (Exhibit 6). Entry-level positions have nearly reached gender parity, with female representation at 48 percent. The share of women holding C-suite roles globally increased 3 percentage points, while the share of people from ethnic and racial minorities in investment committees increased 9 percentage points. There is growing evidence that external hiring is gradually helping close the diversity gap, especially at senior levels. For example, 33 percent of external hires at the managing director level were ethnic or racial minorities, higher than their existing representation level (19 percent).

Yet, the scope of the challenge remains substantial. Women and minorities continue to be underrepresented in senior positions and investing roles. They also experience uneven rates of progress due to lower promotion and higher attrition rates, particularly at smaller firms. Firms are also navigating an increasingly polarized workplace today, with additional scrutiny and a growing number of lawsuits against corporate diversity and inclusion programs, particularly in the US, which threatens to impact the industry’s pace of progress.

Fredrik Dahlqvist is a senior partner in McKinsey’s Stockholm office; Alastair Green  is a senior partner in the Washington, DC, office, where Paul Maia and Alexandra Nee  are partners; David Quigley  is a senior partner in the New York office, where Connor Mangan is an associate partner and Aditya Sanghvi  is a senior partner; Rahel Schneider is an associate partner in the Bay Area office; John Spivey is a partner in the Charlotte office; and Brian Vickery  is a partner in the Boston office.

The authors wish to thank Jonathan Christy, Louis Dufau, Vaibhav Gujral, Graham Healy-Day, Laura Johnson, Ryan Luby, Tripp Norton, Alastair Rami, Henri Torbey, and Alex Wolkomir for their contributions

The authors would also like to thank CEM Benchmarking and the StepStone Group for their partnership in this year's report.

This article was edited by Arshiya Khullar, an editor in the Gurugram office.

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Facts.net

40 Facts About Elektrostal

Lanette Mayes

Written by Lanette Mayes

Modified & Updated: 21 May 2024

Jessica Corbett

Reviewed by Jessica Corbett

40-facts-about-elektrostal

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

  • Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
  • With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy , materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes , offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

Elektrostal's fascinating history, vibrant culture, and promising future make it a city worth exploring. For more captivating facts about cities around the world, discover the unique characteristics that define each city . Uncover the hidden gems of Moscow Oblast through our in-depth look at Kolomna. Lastly, dive into the rich industrial heritage of Teesside, a thriving industrial center with its own story to tell.

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Q1 2024 natural resource partners lp earnings call, participants.

Tiffany Sammis; Investor Relations; Natural Resource Partners LP

Craig Nunez; Chief Operating Officer, Member of the Management Team, President; Natural Resource Partners LP

Christopher Zolas; Chief Financial Officer, Member of the Management Team, Treasurer; Natural Resource Partners LP

Nat Stewart; Analyst; N.A.S. Capital LLC.

Presentation

Thank you for standing by. My name is Pam, and I will be your conference operator today. At this time, I would like to welcome everyone to the Natural Resource Partners L.P. first-quarter 2024 earnings conference call. (Operator Instructions). I would now like to turn the conference over to Tiffany Sammis, Manager of Investor Relations. You may begin.

Tiffany Sammis

Thank you. Good morning and welcome to the Natural Resource Partners first-quarter 2024 conference call. Today's call is being webcast, and a replay will be available on our website. Joining me today are Craig Nunez, President and Chief Operating Officer; Chris Zolas, Chief Financial Officer; and Kevin Craig, Executive Vice President. Some of our comments today may include forward-looking statements reflecting NRP's views about future events. These matters involve risks and uncertainties that could cause our actual results to materially differ from our forward-looking statements. These risks are discussed in NRP's Form 10-K and other Securities and Exchange Commission filings. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. Our comments today also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP measures are included in our first-quarter press release which can be found on our website. I would like to remind everyone that we do not intend to discuss the operations or outlook for any particular coal lessee or detailed market fundamentals. Now , would like to turn the call over to Craig Nunez, our President and Chief Operating Officer.

Craig Nunez

Thank you, Tiffany, and good morning, everyone. NRP generated $72 million of free cash flow in the first quarter and $312 million of free cash flow over the last 12 months. This robust cash generation has allowed us to make noteworthy progress toward our goal of eliminating all financial obligations. As of today, our total remaining obligations which include debt and preferred equity stand at approximately $240 million, a 45% decrease from just one year ago. Since embarking on our de-risking strategy in 2015, we have settled 100% of the outstanding warrants, paid off nearly 90% of our debt, and redeemed more than 70% of the preferred equity. We stand firm in our belief that this is the best strategy to maximize the intrinsic value of our business, which should in turn maximize long-term unitholder returns. The primary drivers of our recent strong performance were historically high prices for both metallurgical coal and soda ash which have declined from record highs and will likely remain volatile for the foreseeable future. We believe that muted investment in new met coal supply will provide support for prices, but not at the record-high levels seen in recent years. Soda ash prices are also under pressure from a significant increase in global capacity from new projects in China, Turkey, and the United States. We believe it will take several years for the market to absorb these new supplies. While we expect the partnership's free cash flow to decline from 2023's record level due to these factors, our capital structure is solid and improving, and we anticipate the business will continue to generate robust levels of free cash flow for the foreseeable future. We expect to remain on track to pay off all debt and preferred stock while paying common unit distributions to help cover unitholder tax liabilities associated with owning NRP common units. Our mineral rights business generated $70 million of free cash flow during the first quarter of 2024. Metallurgical coal prices decline in Q1 versus 2023, but remain generally at or above historical norms. While we expect met prices to remain volatile, global supply and demand remains in reasonable balance, and we believe it will stay that way for the foreseeable future due to the long-term demand trends and continued modest investment in new met supply. Thermal coal prices experienced significant volatility during the quarter as high inventory levels driven by mild weather and low-priced natural gas put downward pressure on US domestic demand. While we do not believe thermal coal prices will rebound to the record-high levels seen in recent years, underinvestment in new sources of thermal coal production and solid international demand should provide price support for the foreseeable future at levels that are competitive when compared to historical norms. Longer-term, we believe the domestic thermal market will continue its long term secular decline. Moving to soda ash, we received a $14 million cash distribution from Sisecam Wyoming in the first quarter of 2024. This quarterly distribution was paid in connection with the fourth-quarter 2023 performance when soda ash prices were much higher than they were during the first quarter. The soda ash market continues to remain oversupplied, putting downward pressure on prices, a trend that began in the second half of last year as new supply flooded the market. Our lower first quarter net income compared to prior quarters reflects this weaker price environment, and we expect future distributions from Sisecam Wyoming to adjust accordingly. Despite the present challenging soda ash market, our long-term outlook for our investment in Sisecam Wyoming remains positive. We are one of the world's lowest cost producers of a product that has favorable long-term fundamentals driven by urbanization, the megatrends for renewable energy, and the electrification of the global auto fleet. Our soda ash business remains a key asset in generating value for NRP unitholders today and in the long run. We continue to explore opportunities to lease our mineral and surface assets for permanent underground CO2 sequestration, pore sequestration, lithium production, and the generation of electricity using geothermal, wind, and solar energy. While we believe the carbon-neutral industry is still decades from full development, the potential upside from our carbon-neutral initiatives could be significant, all while requiring no capital investment by NRP. And with that, I'll turn the call over to Chris to cover the financial results.

Christopher Zolas

Thank you, Craig. In the first quarter of 2024, NRP generated $71 million of operating cash flow and $56 million of net income despite weakening in both coal and soda ash markets. Moving to our segment results. Our mineral rights segment generated $70 million of operating cash flow and $61 million of net income during the first quarter of 2024 when compared to the prior year. Our mineral rights segment's net income and operating cash flow decreased $8 million and $4 million, respectively, primarily due to lower metallurgical coal prices. Regarding our met thermal coal royalty mix. Metallurgical coal made up approximately 75% of our coal royalty revenues and 50% of sales volumes in the first quarter of 2024. Shifting to our soda ash business segment, net income in the first quarter of 2024 decreased $14 million as compared to the prior-year quarter due to increased supply from China that resulted in significantly lower international sales prices, slightly lower domestic sales prices, and lower sales volumes compared to the prior-year quarter. Operating cash flow from this segment increased $4 million as compared to the prior-year quarter. As Craig mentioned earlier, the distribution we received in Q1 of 2024 was paid in connection with the fourth quarter of 2023 performance, a period with higher international and domestic sales prices. Moving to our corporate and financing segment, first-quarter 2024 net income and operating cash flow decreased $1 million, primarily due to higher interest expense and cash paid for interest because of increased borrowings outstanding on the credit facility that were used to settle warrants. In the first quarter of 2024, we settled 1.2 million warrants with a combination of $56 million of cash and issuing a bit less than 200,000 NRP common units. And in April, we settled the remaining 0.3 million of our outstanding warrants with $10 million of cash and issuing a bit over 89,000 common units. After this April settlement, no warrants remain outstanding. In the first quarter of 2024, we utilized the accordion feature on our existing credit facility and added $45 million of borrowing capacity to reach the full $200 million amount available to us. This represents an increase in borrowing capacity of 54% from just one year ago. We've used this credit facility, along with our free cash flow to permanently retire preferred equity and warrants. And we'll continue doing so to redeem the remaining $72 million of preferred equity. As Craig mentioned earlier, we made significant progress on our long-term goal to eliminate our obligations, and we remain laser focused on eliminating our remaining obligations made up of debt and preferred equity. I'd like to point out that the potentially dilutive effect of preferred equity and warrants has been significantly reduced by a redemption of 178 million of the original 250 million of preferred equity and the settlement warrants. As evidence, the diluted weighted average number of common units in Q1 2024 decreased almost 20% compared to the prior-year quarter. Consequently, our Q1 2024 diluted net income per common unit increased to 11% compared to the prior-year quarter even though our basic EPU was down 6% compared to the prior-year quarter. Finally, regarding our quarterly distributions, in February of 2024, we paid a fourth-quarter distribution of $0.75 per common unit and a $2 million cash distribution to our preferred unitholders. In March of 2024, we announced and paid a special distribution of $2.44 per common unit to help cover unit holder tax liabilities associated with owning NRP's common units in 2023. And today, we announced our first-quarter distribution of $0.75 per common unit and a $2 million cash distribution to our preferred unit holders. And with that, I'll turn the call back over to our operator for questions.

Question and Answer Session

Thank you. We will now begin the question-and-answer session. (Operator Instructions) Nat Stewart, N.A.S. Capital LLC.

Nat Stewart

I just had one question. Is there any update on anything going on with the existing agreements for the carbon storage? Is there any update on the permitting process or any information you might have on what's going on there?

Unfortunately, we do not.

Okay. All right. Well, that's my question. Thanks.

There are no questions. I will now turn the conference back over to Craig Nunez for closing remarks.

Thank you, operator, and thank you, everyone, for participating on our call, and thank you for your continued support of NRP. Have a great day. Bye.

Ladies and gentlemen, that concludes today's call. Thank you all for joining.

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Natural Moral Law - 4 virtues, real and apparent goods PPT.

Natural Moral Law - 4 virtues, real and apparent goods PPT.

Subject: Religious education

Age range: 16+

Resource type: Lesson (complete)

simrankchahal26

Last updated

21 May 2024

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pptx, 2.08 MB

Full lesson PPT for teaching the 4 virtues, and real and apparent goods within Natural Moral Law. Suitable for students studying A Level OCR RS.

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NATURAL MORAL LAW BUNDLE

OCR A LEVEL RS - NATURAL MORAL LAW BUNDLE This bundle contains full lesson PPT.'s for Interior and Exterior acts, the 4 virtues, real and apparent goods and an evaluation PPT. with A01/102 and a summary PPT. for revision lessons. Suitable for students completing an A Level examination in Religious Studies awarded by OCR.

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