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Sustainability and Green IT Services News for Technology Partners: 28 February 2024

February 28, 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.

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

1. AI - Microsoft Copilot Revenue Opportunity: Microsoft Copilot, the company's AI-driven productivity assistant, could lift Microsoft revenues by 12% by 2028, according to Khaveen Investments. However, a recent Wall Street Journal article explored whether Microsoft Copilot is worth the money.

2. IT Asset Disposition: TERRA has expanded its certified electronics reuse and recycling facilities into the Indian market, the company said. TERRA in an e-scrap and IT asset disposition (ITAD) solutions provider with more than 110 facilities in 10 countries.

3. Blockchain Ecosystem: VeChain is promoting a blockchain ecosystem that "empowers individuals and enterprises to foster global positive impact." VeChain’s energy-efficient public blockchain, called VeChainThor, "provides the infrastructure for enterprises and developers to build applications sustainably, without requiring prior coding knowledge," the company said.

4. HVAC Solutions: LG Electronics USA demonstrated various sustainable home solutions at the 2024 NAHB International Builders' Show (IBS) and Kitchen and Bath Industry Show (KBIS) in Las Vegas.

5. Grid Management: Siemens has launched Gridscale X, a software platform for autonomous grid management.

6. Grid Modernization: Schneider Electric reinforced its grid modernization strategy at the DISTRIBUTECH International 2024 conference.

7. Executive Leadership - Climate Consulting: South Pole, a carbon and climate consultancy, has hired ESG Book veteran Daniel Klier as CEO. Earlier Kiier was global head of sustainable finance and group head of strategy at HSBC, where he established the bank’s net zero target.

8. Research - Mobile Network Operators:  The carbon emissions of mobile network operators fell by 6% globally between 2019-2022, according to the GSMA's fourth Mobile Net Zero report, published at MWC Barcelona. Europe leading the way with a 50% reduction. In North America, Latin America, the Middle East and North Africa, emissions fell by 20% to 30%. However, operational emissions rose in Greater China and the Asia-Pacific – the world's largest and second largest mobile markets respectively.

9. Research - ESG Reporting Software and Market Growth Forecast: The global ESG reporting software market will reach $3.86 billion by 2030, up from $1.42 billion in 2023, according to 360i Research. That's a 15.38% compound annual growth rate (CAGR), the company said.

10. Commercial Real Estate - M&A Tool: The Better Buildings Partnership (BBP) has launched an enhanced Acquisitions Sustainability Toolkit. The toolkit is "designed to support commercial property owners in assessing the sustainability characteristics of buildings during the acquisition phase," BBP said.

11. Partner Program: ClimeCo, a decarbonization and environmental solutions company, has launched an EcoCommitted Partner Program for small businesses.

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

1. Private Equity: Impact Engine has closed an $85 million private equity fund. This is Impact Engine's second fund. The new fund invests in individual companies and other impact-oriented private-equity funds that are focused on advancing environmental sustainability, economic opportunity, and health equity, Barron's reported.

2. M&A - Building Management Systems: learnd Limited has acquired BG Energy Solutions, a provider of building energy management services in Europe. We don't know the deal's valuation.

3. M&A - Renewable Energy: Revolve Renewable Power Corp. has acquired WindRiver Power, a Canadian-based owner, operator and developer of wind and hydro projects in the Provinces of British Columbia and Alberta. Revolved paid C$4.85 million up front in cash. Revolve may pay an additional $14 million if certain acquired projects achieve various business metrics. Revolve has also agreed to pass through contingent payments of up to C$5.7 million expected to be received by WindRiver from development assets previously sold to third parties by WindRiver.

4. M&A - Renewable Energy: The CEE Group has acquired a solar park in Brandenburg, Germany. Financial terms of the deal were not disclosed. The CEE Group now owns 54 solar and 47 wind parks. CEE Group can now supply green energy to 885,300 households, roughly equivalent to Munich, Germany's size, thereby preventing nearly 1.5 million tons of CO2 emissions annually, the company said.

5. M&A - Data Centers: atNorth, a Nordic provider of sustainable data center services, has acquired Gompute, a High Performance Computing (HPC) provider. The deal, completed in 2023, allows atNorth to further scale its services for AI and high-performance workloads, BNN reported.

6. 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 and European Policy Shifts?: Politicians are vowing to roll back green policies and downplaying climate change ahead of key elections on both sides of the Atlantic, casting doubt on whether countries can maintain momentum in the transition away from fossil fuels, Bloomberg reported.

2. European Union - ESG Legislation Challenges: A European Union law designed to clean up corporate supply chains has been derailed by some of the bloc’s biggest member states, Bloomberg report, forcing negotiators back to the drawing board on one of the most consequential pieces of ESG legislation ever attempted.

3. Saudi Arabia - Recycling: Through a relationship with iot squared, the Ericsson Connected Recycling platform will be available in the Kingdom of Saudi Arabia. Ericsson Connected Recycling "digitalizes waste flows to enable traceability, optimization, and monetization of waste and recycled raw materials," the company said.

4. China - Solar Industry Concern: China’s solar industry is likely to set lower expansion targets in 2024, as financial stresses and grid constraints make it challenging to match 2023's explosive growth, Bloomberg reported.

D. Sustainability and Green Technology Conference Calendar

  1. Columbia University: SUMASA Annual Sustainability Symposium 2024 (March 1, New York)
  2. UCONN Global Business Leadership in Sustainability Summit 2024 (March 1, Connecticut)
  3. Economist Impact Energy Transition Summit 2024 (March 4, London, United Kingdom)
  4. Sustainability Week 2024 Conference (March 4-6, London, United Kingdom)
  5. Washington Oregon Higher Education Sustainability Conference (WOHESC) 2024 (March 4-6, Washington)
  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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