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Sustainability News 16 May 2024: Cognizant, Microsoft Scope 3 Request, PwC, RS Metrics, Solifi, More

May 16, 2024 by Joe Panettieri

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. Microsoft Supply Chain and Renewable Energy: Microsoft will ask its main suppliers to use 100% renewable energy by 2030, The Wall Street Journal reported. Among the challenges Microsoft is seeking to address: Microsoft's emissions rose 30% amid growing AI demand and associated data center buildouts, the software company disclosed.

2. Generative AI and Sustainability: How can organizations align generative AI use with sustainability considerations? Kyndryl, the global MSP, offers these perspectives.

3. Software: Solifi, a fintech software provider, has launched ESG Portfolio Strategist. The software enables automotive finance businesses to "operationalise ESG strategy within their existing leasing workflow," the company said.

4. Partnership - Cloud Software: RS Metrics and Cognizant are building various climate risk solutions atop Google Cloud. The software tools will "incorporate AI-driven methods for quantifying and analyzing climate risk, leveraging Google Cloud’s Gemini models as a foundation," the companies said.

5. Partnership - Building Decarbonization: KEO and Johnson Controls are partnering to promote building decarbonization services in the Middle East region.

6. Partnership - Solar Equipment Recycling: We Recycle Solar and Renewables.org have expanded their solar panel recycling partnership.

7. Financial Services - Software: Temenos has unveiled a sustainability benchmark for its cloud-native banking platform running on Microsoft Azure...

8. Financial Services - Research: Banks will generate $44 billion in incremental revenues annually through 2030 from financing the low-carbon transition, primarily via corporate loans, Bain reported.

9. Executive Leadership - Real Estate: Knight Frank, the global real estate consultancy, has named Jackie Cheung as director of ESG for Asia-Pacific and Singapore. 

10. Executive Leadership: Schneider Electric has hired AutoGrid veteran Ruben Llanes as CEO of Digital Grid. The business "aims to accelerate grid modernization, from grid to prosumer, under the pillars of innovation, adoption and partnerships," the company said.

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

1. Startup Funding - Energy Management Software: ABB Ventures has invested in Ndustrial, a US-based clean technology startup focused on AI-powered energy management software. Financial details were not disclosed.

2. M&A - News Coming?: Siemens is nearing a sale of its Innomotics large motors and drives business to private equity firm KPS Capital Partners for €3B (~$3.25B), Handelsblatt reported Wednesday.

3. M&A - Solar Infrastructure: NextEnergy Capital has acquired Solar infrastructure in Poland.

4. M&A: Green Lagoon Technology Sdn Bhd’s reverse takeover of Ancom Logistics Bhd will result in the total decarbonisation of the latter’s holding company Ancom Nylex Bhd, a report said.

5. M&A: Calgon Carbon Corp., a subsidiary of Kuraray, will acquire an industrial reactivation carbon business from Sprint Environmental Services. The acquisition involves 21 employees and an industrial carbon reactivation plant near Houston, Texas. The deal is expected to close in July 2024. Financial terms were not disclosed.

6. M&A - Package Recycling: Oceansix Future Paths plans to acquire Original RePack Oy, a developer of reusable packaging systems.  The purchase price is roughly CDN $2.4 million.

7. 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 - Solar Policy: The Biden administration is initiating a suite of policies that it says will help foster a deeper domestic supply chain for solar panels, Bloomberg reported, following pleas from US manufacturers confronting a surge of tariff-free imports.

2. United States - California Legislation: Here's a list of various ESG legislation and the potential steps forward for businesses, according to Deloitte.

3. Europe - Carbon Emissions: The European Union's greenhouse gas emissions fell by 5% in 2023, official data published this week showed, Reuters reported, continuing a trend of declining emissions in Europe.

4. European Standards - Training: AICPA & CIMA, the Association of International Certified Professional Accountants and PwC, are jointly offering a new e-learning course: Introduction to the European Sustainability Reporting Standards.

5. Middle East - Financial Services: How will financial services firms in the Middle East transition to net-zero emissions? EY offers these perspectives.

D. Sustainability and Green Technology Conference Calendar

  1. Open EV Charging Summit (May 15-16, Dallas, Texas)
  2. Sustainable Skies World Summit (May 15-16, Farnborough, United Kingdom)
  3. MI Healthy Climate Conference 2024 (May 16-17, Lansing, Michigan)
  4. Building a Sustainable Future: The Global Energy Transition (May 16-17, New York)
  5. Scaling Sustainability Innovation (May 17, Stanford University, California)
  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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