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Sustainability News 20 May 2024: First Solar, Johnson Controls, Tetra Tech, More

May 20, 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. Sustainability - Return on Investment (ROI): HanesBrands has saved $23 million since establishing sustainability goals in 2020, including more than $10 million in savings in 2023, the company's annual sustainability report disclosed. We don't know if the savings flow directly to HanesBrands' bottom line.

2. Johnson Controls - Investor Activity: Elliott Investment Management, a major activist investor, has built a $1 billion stake in Johnson Controls, according to Bloomberg. Johnson Controls' stock has underperformed the market amid the company's growing focus on smart building technologies that align with customers' energy efficiency, sustainability and decarbonization goals. 

3. Solar Energy - Business Valuation: First Solar has become the world’s most valuable solar equipment manufacturer for the first time since 2018, as Chinese rivals suffer from a profit-slashing price war and an onslaught of trade barriers erected by Washington, Bloomberg reported.

4. More AI Lawsuits, Warnings: Two voice actors sued AI startup Lovo in Manhattan federal court. Also, Sony Music Group warned AI companies and music streaming platforms not to use Sony's content without explicit permission. Related: See all generative AI lawsuits listed here.

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

1. M&A - Systems Integrator and Energy: Tetra Tech has acquired Convergence Controls & Engineering, a process automation and systems integration solutions in the water and energy sector. Financial terms of the deal were not disclosed.

2. M&A - Energy Sector: Iberdrola will acquire the remaining 18.4% of Avangrid that it does not currently own. Avangrid positions itself as a sustainable energy company -- though the company's portfolio extends across renewable energy facilities to include natural gas utilities. Iberdrola is Europe's largest electricity utility by market capitalization.

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

Nothing to share here today. Check back tomorrow.

D. Sustainability and Green Technology Conference Calendar

  1. Advanced Clean Transportation Expo (ACTExpo) 2024 (May 20-23, Las Vegas)
  2. ASES Solar 2024 (May 20-23, Washington, D.C.)
  3. Dell Technologies World 2024 (May 20-23, Las Vegas)
  4. IBM Think 2024 (May 20-23, Boston, Massachusetts)
  5. Hitachi Energy's Enterprise Software Solutions User Conference: Americas 2024 (Denver, Colorado)
  6. Co.Mobility Summit 2024 (May 20-22, Chattanooga, Tennessee)
  7. 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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