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Sustainability and Green IT Services News for Technology Partners: 12 February 2024

February 12, 2024 by Joe Panettieri

Here is today’s sustainability news, research and analysis for technology partners; renewable energy and green IT service providers; management consultants; CIOs; chief sustainability officers (CSOs) and c-suite members.

Heads Up: Our Global Events Calendar is Here.

A. Sustainable Technology, Talent, Partnerships and Green IT Alliances

1. Research - EV Charging Market Growth Forecast: The Global Electric Vehicle Charging Stations Market will reach $216.78 billion by 2030, up from $12.82 billion in 2022, according to Vantage Market Research. That's a compound annual growth rate (CAGR) of 42.4%. That sounds like a lucrative market opportunity, but we'll be watching to see if Tesla's Supercharger Network essentially becomes the de facto standard for such infrastructure.

2. Research - Global Green Tech Market Forecast: The green technology and sustainability industry will reach $44.55 billion by 2028, up from $19.19 billion in 2024, according to ResearchAndMarkets.com. That's a compound annual growth rate (CAGR) of 23.4%,

3. Research - EV Trucks: A new Guidehouse Insights report examines the impact of cost and revenue changes brought about by decarbonization and electrification on the medium and heavy duty (MHD) truck value chain.

4. Research - Sustainability Data: Do executives have access to high quality sustainability data? This Salesforce research report offers some clues...

5. Research - Consumer Concerns: When it comes to sustainability, consumer fatigue is setting in, stalling confidence, and stagnating progress says EY in the 'Energy transition consumer insights' report.

6. Talent and Executive Leadership - Smartphones: New Fairphone CEO Reinier Hendriks has extensive background in the telecom services market.

7. Talent and Executive Leadership - Investments: Galvanize Climate Solutions, a climate-focused global investment firm, has hired Alex Munoz to VP of asset management for the firm’s sustainable real estate investment strategy. Munoz previous was principal at GI Partners. Earlier, he held key posts at Goldman Sachs, Cofinance Group and PGIM Real Estate.

8. Energy Transition - Branding: Shell has rebranded its Studio X net-zero effort as Onward.

9. OpenAI Revenues: OpenAI’s revenues have surpassed $2 billion on an annualized basis, as the runaway success of its flagship artificial intelligence product ChatGPT puts it among the fastest-growing technology companies in history, The Financial Times reported.

10. EV Charging Product Sales: Pioneer Power Solutions has received more than $2 million in initial orders for the company's new E-Bloc Charge Port series.

11. Solar Setback?: CubicPV Inc., a startup backed by Bill Gates, has halted its ambitious plan to construct a massive crystalline-silicon wafer hub in the United States, setting off alarm bells for a sector betting billions of dollars to reform a domestic solar supply chain, S&P Global reported.

12. Power Purchase Agreement (PPA): Amazon has signed a power purchase agreement (PPA) with Avangrid's wind farm located in Gilliam County, Oregon. Consisting of 40 turbines, the wind farm will produce enough energy to power 22,800 homes every year. During construction, the project will support about 200 jobs. Additionally, Avangrid has executed contracts to recycle all turbine blades that will be decommissioned with this project, which is estimated to divert more than 1,000 tons of mass from landfill.

13. Super Bowl and Renewable Energy: The 2024 Super Bowl was the first one fully powered by renewable energy, USA Today reported.

B. Sustainability M&A, Investments, Funding and Green IT Business Launches

1. M&A - Private Equity and Software: Thoma Bravo has completed the acquisition of EQS, a compliance software provider.

2. Complete M&A List: Here's our database of all M&A deals involving sustainability, green IT and renewable energy buyers, sellers and investors.

C. Regional and Global Sustainability Policies and News

1. United States - Climate Tax Burdens: President Biden’s 2022 climate law is driving faster-than-expected growth in electric-vehicle purchases and clean-energy projects, doubling the projected cost to taxpayers while potentially accelerating emissions reductions, The Wall Street Journal reported.

2. United States - Energy Transition Challenges: FirstEnergy Corp. abandoned its 2030 target for slashing greenhouse-gas emissions because coal plants can’t be replaced in time, marking a major about-face in the movement to protect the climate, Bloomberg reported.

3. North America - EV Charger Infrastructure: IONNA, a joint venture backed by seven automakers -- plans to build out an EV charger network spanning at least 30,000 chargers. BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis. IONNA named Seth Cutler as CEO.

4. European Union - Renewable Energy Consumption: Renewables provided a record high of 44% of EU electricity in 2023, surpassing the 40% mark for the first time, according to Ember’s European Electricity Review 2024, as reported by Renewables Now.

5. India - R&D: JSW Group will set up electric vehicles and battery manufacturing projects in the country's eastern state of Odisha at a cost of 400 billion rupees (US$4.82 billion), Reuters reported.

6. China - Energy Transition: China’s massive rollout of renewable energy is accelerating, its investments in the sector growing so large that international climate watchdogs now expect China's greenhouse-gas emissions to peak years earlier than anticipated—possibly as soon as this year, The Wall Street Journal reported.

7. Kenya Energy Transition: Kenya aims to transition to 100 percent clean energy by 2030 or so, under one of the world’s most ambitious climate pledges to date, OilPrice.com reported.

D. Sustainability and Green Technology Conference Calendar

  1. Sustainable Buildings and RetrofitTech MENA Summit 2024 (February 13-14, Dubai, UAE)
  2. IoT Evolution 2024 (February 13-15, Fort Lauderdale, Florida)
  3. Verdantix Climate Summit North America 2024 (February 20-21, Washington, D.C.)
  4. World ESG Summit 2024 (February 20-22, Saudi Arabia)
  5. Step Conference 2024: Earth Track ( February 21-22, Dubai, UAE)
  6. 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: If you have news to share then please email me the details.
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