Here is today’s sustainable IT services and climate tech news, research and analysis -- written for technology partners, green IT service providers, CIOs, chief sustainability officers (CSOs) and climate accounting professionals.
A. Sustainable IT, Talent, Partnerships and Green Tech Alliances
1. Diminished CSO Role?: HSBC has dropped its chief sustainability officer from its decision-making executive board, Reuters reported, sparking concern it could become the latest bank to row back on its climate commitments.
2. Executive Transition - Circular IT Services: Stone Technologies, owned by Converge Technology Solutions since 2022, has named Tim Westbrook to succeed Simon Harbridge as the business unit's leader. It sounds like Stone Technologies will now be known as Converge UK. The business unit focuses on a sustainable and circular approach to IT services.
3. Executive Leadership - IT Asset Disposal (ITAD) and E-Waste Reduction: Recycle Global Exchange (RGX) has hired Capital Growth Partners veteran Richard Bulger as chief circularity officer (CCO). Bulger "will ensure that circularity is fully integrated into RGX’s platform design and business models, guiding corporate customers to transition from traditional linear "take-make-dispose" paradigms toward more profitable, sustainable circular solutions.," the company said.
4. Partner of the Year - IT Services: For the second consecutive year, Cisco Systems has named Logicalis as its global sustainability partner of the year. Key Logicalis focus areas include circular IT solutions, sustainable network trnsformation, smart buildings and sustainable managed services.
5. Partner Program - IT Solutions and Services: Cisco Systems plans to overhaul its partner program to help partners "power AI workloads anywhere, and keep their organizations secure, resilient, and high-performing." Much of the Cisco 360 Partner Program announcement focused on AI, security and networking. The company did not mention energy management or sustainability in the launch statement.
6. Partner Program - Travel and Tourism: Booking.com has boosted its partner program with more sustainability components.
7. Amazon - Nuclear Power: Amazon has signed a nuclear power agreement with Energy Northwest. The deal, focused on the state of Washington, will enable the development of four SMRs (small modular reactors), the company said.
8. Generative AI and E-Waste: The shift to AI-driven devices could trigger massive smartphone e-waste, according to a paper published in the journal Nature.
9. Generative AI and Water Consumption: Power demand for artificial intelligence (AI) applications is straining U.S. water supplies, JP Morgan said.
10. Auto Industry Layoffs: Volkswagen is planning mass layoffs and German plant closures amid multiple business challenges -- including a slower-than-expected shift to electric vehicles, Reuters reported./
B. Sustainability M&A, Climate Tech Investments, Funding and Green IT Business Launches
1. Funding - Fusion Power: Breakthrough energy (backed by Microsoft Co-Founder Bill Gates) and former Google CEO Eric Schmidt have invested in Pacific Fusion, a startup that's striving to "power the world with abundant, affordable, clean energy."
2. Funding - Climate Tech Research: The Climate and Sustainability Translational Fund, launched by Harvard’s Office of Technology Development and the Salata Institute, has announced four initial project awards. The research project awards involve:
- Bacteria Strains to Improve Carbon Capture and Storage
- Electrified hydrogen peroxide production and advanced green oxidation
- Bionic Leaf-C at manufacturing scale-up
- Photonic materials for sustainable packaging
3. Funding Plan - Energy Grid Modernization: NextEra Energy plans to raise $1.5 billion through the sale of equity units to fund new projects, the electric utility said.
4. M&A - Managed IT Services: Academia, a sustainable IT service provider in the United Kingdom, has acquired Smartdesc -- an IT service provider focused on the non-profit sector. Financial terms of the deal were not disclosed.
5. M&A - Data Centers: Investment firm DigitalBridge Group has acquired Yondr Group, a global developer and operator of sustainable hyperscale data centers. The deal is expected to close in early 2025. Financial terms were not disclosed.
6. M&A - Data Centers: Investment firm Cordiant Digital plans to invest €92.3 million in Belgian data centre provider Datacenter United (DCU) and the data centre business of Proximus Group. Cordiant Digital plans to combine the two data center businesses into a single entity. The investor will own a 47.5% stake in the combined business.
7. Complete M&A List: Here's our database of all M&A deals involving green IT and renewable energy buyers, sellers and investors.
C. Regional and Global Sustainability Policies and News
1. COP29: Ahead of the COP29 conference, United Nations climate chief warned of a looming "train wreck" if the world did not cut emissions faster, Bloomberg reported.
2. China Energy Consumption: China's power demand will grow faster than expected in 2024 due to record heat waves and Beijing's economic stimulus aimed at shoring up demand, Reuters reported.
3. Australia Energy Grid Transition: Ausgrid, the largest distributor of electricity on Australia’s east coast, has partnered with Schneider Electric to decarbonize its grid operations, the companies said.
D. Sustainable IT and Green Technology Conference Calendar
- Verge 2024Â (October 29-31, San Jose, California)
- Bloom 2024 Biodiversity and Climate Conference (October 29-30)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
