Here is today’s sustainability news, research and analysis for technology partners, renewable energy consultants and green IT service providers. Today's sustainability news also involves management consultants, CIOs, chief sustainability officers (CSOs), c-suite members and climate accounting professionals.
A. Sustainable Technology, Talent, Partnerships and Green IT Alliances
1. Market Research - Green Technology Software Spending Forecast: The green technologies and sustainability solutions market will reach $47.8 billion by the end of 2028, up from $16.2 billion in 2022, BCC Research predicts. That's a 19.3% compound annual growth rate (CAGR), BCC said. The report omits hardware components such as wind turbines, solar panels, and electric vehicles, focusing instead on software-driven solutions, BCC said.
2. HP Partner - Case Study: Introstat, an MSP and HP partner focused on managed print services in South Africa, has shared a case study about its sustainability & DEI efforts.
3. Microsoft Partner - Carbon Removal Agreement: Microsoft has signed a massive carbon removal agreement with Stockholm Exergi. The 10-year deal kicks off in 2028.
4. AI and Power Consumption: The intense climate impact from the rise of generative AI models will decline as systems become more energy efficient and tech firms move from building to updating, according to Drew Purves, Google DeepMind’s sustainability lead, UK Tech reported.
5. Apple AI Chips: Apple is developing AI-focused chips for its own data centers, The Wall Street Journal reported. The project -- known as Apple Chips in Data Center (ACDC) -- has been under development for several years, but it's unclear if Apple will ever unveil the resulting chips. We're also curious to know if the Apple ACDC chips will reduce power consumption compared to existing chips.
6. Executive Leadership - Google: The search engine and cloud services giant has hired Spencer Low as head of sustainability for Google's Asia Pacific region, Eco-Business reported.
7. Executive Leadership - Consulting: ERM has hired BSI veteran Carlos Pitanga as global managing director of ERM CVS -- which provides independent assurance, verification and certification services across sustainability and business continuity domains to organizations worldwide.
8. Executive Leadership - Energy Transition: MIT has named William Green as director of the MIT Energy Initiative (MITEI). Green "plans to speed up the consensus process among academics, business leaders, and policymakers for a successful energy transition," MIT reported.
9. Data Centers - Brazil: Scala Data Centers has announced a major power substation in Brazil. The project "further strengthens Scala's ability to support the increasing demand for data center capacity," the company said.
10. Managed Services - EV Charging and Customer Support: EVBox has outsourced Level 1 support to EVA Global, an MSP focused on EV support services, the EV Report stated.
11. Financial Results - EV Charging Networks: EVgo revenue was $55.2 million in Q1 of 2024, up 118% from Q1 of 2023. Net loss was $28.2 million for Q1 of 2024. Revenue generally beat Wall Street's expectations, SeekingAlpha reported.
12. Financial Results - Electric Vehicles: Lucid Group revealed a wider-than-expected loss for Q1 of 2024 as the company contends with production challenges and uneven demand for high-end electric vehicles, Bloomberg reported.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. Investment: Great-West Lifeco Inc. has acquired roughly 20% of Power Sustainable Manager -- a climate-focused investment management firm. Financial terms were not disclosed.
2. M&A: CPP Investments and Global Infrastructure Partners (GIP) plan to acquire Allete for $6.2 billion including debt. Allete's business includes "regulated utilities and renewable energy companies" that are "focused on driving the clean-energy transition by expanding renewables, reducing carbon, enhancing grid resiliency, and driving innovation."
3. 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. United States - China Meetings: Climate negotiators from the world’s top two greenhouse gas emitters -- the U.S. and China -- are set to meet this week in Washington for talks on curbing potent planet-warming pollutants, promoting energy efficiency and other issues, Bloomberg reported.
2. United States - Sustainability Rules: Top executives at Exxon Mobil and Chevron Corp said that the U.S. needs to clarify rules on energy subsidies to drive the rapid, large-scale investments needed to fight climate change, Reuters reported.
3. Italy - Solar Panel Policy: Italy's rightwing coalition on May 6, 2024 passed rules curbing the installation of solar panels on agricultural land, ministers said, in a move that triggered criticism as it could undermine Rome's decarbonization goals, Reuters reported.
D. Sustainability and Green Technology Conference Calendar
- Sustainability Conference on Climate Change 2024 (May 9-10, Stanford University)
- Intel Vision EMEA 2024 (May 14-15, London, United Kingdom)
- Open EV Charging Summit (May 15-16, Dallas, Texas)
- Sustainable Skies World Summit (May 15-16, Farnborough, United Kingdom)
- Microsoft Build 2024 (May 21-23, Seattle, Washington)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
- Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
- Future Updates: If you have news to share then please email me the details.
