Here is today’s sustainability news, research and analysis for technology partners, renewable energy and green IT services companies, management consultants, CIOs, chief sustainability officers (CSOs) and c-suite members.
A. Sustainable Technology, Talent, Partnerships and Alliances
1. IT Sustainability Workshops: Kyocera Document Solutions UK (KDUK) and HP Enterprise (HPE) have launched net zero workshops to help customers and partners deploy and manage sustainable IT solutions. TD Synnex also is involved in the workshops.
2. Storage Services: Pure Storage has launched Disaster Recovery as-a-Service solution and AI-powered management capabilities that "support secure, sustainable, and smart enterprise business operations," the company said. On a related note, the storage company updated its Evergreen portfolio with a commitment to pay customers’ power and rack space costs for the Evergreen//One Storage as-a-Service (STaaS) and Evergreen//Flex subscriptions. Also, Pure Storage is unveiling new No Data Migration, Zero Data Loss, and Power and Space Efficiency guarantees, coupled with flexible upgrades and financing, across the Evergreen portfolio.
3. Hospitality: Silk Hospitality of Georgia has joined the Sustainable Hospitality Alliance. The group's mission is to "accelerate the path to net positive hospitality through strategic industry leadership, collaborative action, harmonization of metrics and regenerative solutions." The Silk Hospitality move surfaces one week after several major hotel companies co-launched the Hospitality Alliance for Responsible Procurement (HARP).
4. Layoffs - Solar Technology: Maxeon Solar Technologies plans to cut 15% of its global workforce amid headwinds in the solar panel market.
5. New Hires - ESG Consulting: Sustainserv has hired new team members in Boston, Massachusetts; Zurich, Switzerland; and Frankfurt, Germany. The new additions include Judith Bisig; Amanda Elkin; Fabian Haumann; Brooke McDonald; and Nicole Schafer.
B. Sustainability M&A, Investments, Funding and Business Launches
1. Funding - Electric Vehicle (EV) Charging: ChargePoint has raised $232 million amid its effort to achieve adjusted EBITDA profitability at the end of 2024. ChargePoint's stock fell about 8% on the news, and shares are down nearly 70% from October 2022 to October 2023, SeekingAlpha estimates. The funding surfaces roughly one month after ChargePoint layoffs impacted roughly 10% of staff at the EV charging station network company.
2. For Sale?: Hyliion has hired advisors to explore the potential sale of the company's powertrain business. In a statement, the company said: "Hyliion, like others, has experienced slower-than-anticipated market adoption as fleets undertake a gradual transition to electric trucks." The company's mission is to "be the leading provider of electrified solutions for the commercial vehicle industry."
3. All M&A Deals: Our list of M&A deals focused on sustainability tracks hundreds of buyers, sellers and private equity investors who focus on green IT services, renewable energy & more.
C. Regional and Global Sustainability Policies and News
1. Japan: Trading on Japan’s first carbon-credit exchange started October 11, as the nation looks to put a price on emissions to help zero them out by 2050, Bloomberg reported.
2. Europe: It turns out the market for environmental-related investment funds is really small in the US, relative to Europe and even China, Bloomberg reported. Roughly $32 billion was allocated to US climate funds as recently as the end of June 2023, compared with about $447 billion in Europe and $44 billion in China, according to data compiled by Morningstar Inc., Bloomberg said.
D. Sustainability and Green Technology Conference Calendar
- Sustainable Brands 2023 (October 16-19, San Diego, California)
- Sustainable Retail Summit 2023 (October 18-20, Copenhagen, Denmark)
- The Political Economics of Environmental Sustainability Conference 2023 (October 23-24, Stanford University)
- VERGE 23 Climate Tech Event (October 24-26, San Jose, California)
- NAEM's EHS & Sustainability Management Forum 2023 (October 24-27, Cleveland, Ohio)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
1. Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
2. Future Updates: Send us your news tips. Please email me the details.
