Here is today’s sustainability news, research and analysis for technology partners, management consultants, CIOs, chief sustainability officers (CSOs) and c-suite members.
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A. Sustainable Technology, Talent, Partnerships and Alliances
1. Corporate Sustainability Reports Database: Our database tracking corporate sustainability reports and associated net-zero goals now spans 202 companies and organizations. Today's additions include Elastic, EQT Corp., Healthpeak Properties, Lamb Weston, NICE, nVent Electric, O-I Glass, Shorenstein Properties and more.
2. Sustainability Partner Programs: Our database tracking sustainability partner programs now spans 109 companies across the technology and energy sectors. The latest addition is SUNeVision, a data center provider in Asia.
3. Sustainable Mobility: The Company Lab (CO.LAB), an advocate for sustainable mobility, is teaming up with Tennessee car dealerships to bring more electric vehicle awareness to the Chattanooga community. The effort includes a first-ever Experiential EV Ride & Drive at The Bend racetrack on June 24.
4. Seven Sustainability Trends for 2023: AccountAbility offers perspectives here.
5. Sustainable Energy - Critical Mass: More than half of the power that Xcel Energy generates across eight states now comes from carbon-free sources, the company said.
B. Sustainability M&A, Investments and Funding
1. Funding - Commercial Building Energy Management: Climate technology investor HASI has provided a $150 million credit facility to GridPoint, a provider of energy management and optimization technology that decarbonizes commercial buildings.
2. Funding - Software: GreenPlaces, which develops an all-in-one sustainability platform, has raised $13 million in Series A funding led by Redpoint Ventures along with Felicis, Tishman Speyer Ventures, and Bull City Venture Partners.
3. Debt Financing - Solar Power: Altus Power has secured an incremental $47 million in debt financing from Blackstone. Altus will use the funds to pay off $15.8 million in debt, with the remainder as net cash proceeds available to be reinvested ion the business. The incremental financing is an expansion of the $204 million facility initiated in February 2023, Altus Power said.
4. All M&A Activity: Our M&A database has now tracked 83 mergers and acquisitions involving sustainability so far in 2023. See all M&A deals involving sustainability listed here.
C. Regional and Global Sustainability Policies and News
1. Caribbean - Solar and Battery Storage Services: Sunnova Energy International Inc. has entered US Virgin Islands (USVI) market -- offering renewable energy to homeowners and businesses in the region.
2. European Financial Services: European banks are building out their risk models to better prepare for the fallout from climate change, with some even examining the short-term liquidity implications of a hotter planet, according to a joint survey conducted by the Association for Financial Markets in Europe and Oliver Wyman, Bloomberg reported.
3. South Africa Renewable Energy Hurdles: South African renewable energy projects selected over a year ago to add generation from private producers and help end electricity shortages are struggling to reach financial close due to an escalation in costs, according to one of the developers, Bloomberg reported.
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