3. Supercomputers: Hewlett Packard Enterprise (HPE) executives touted "sustainable supercomputers" multiple times during the technology company's earnings call on August 29, 2023. Stay tuned for more perspectives.
6. Long-Duration Energy Storage: Eos Energy Enterprises unveiled a $500 million plan to expand its long-duration energy storage systems. The effort is called Project AMAZE — American Made Zinc Energy. Among the plan's key components: The Department of Energy’s (DOE) Loan Programs Office (LPO) has issued an up to $398.6 million conditional commitment for a loan guarantee. If the loan is finalized, it will likely fund 80% of an Eos expansion effort in Pennsylvania, the company said.
B. Sustainability M&A, Investments and Funding
1. ESG-Linked Loans: After years of rapid growth, ESG-linked loans are suffering the worst drought since their inception in 2017, Bloomberg reported. With investors now questioning the usefulness of many ESG investments, a rebound on ESG-linked loans will depend partly on whether issuers can make these products more transparent, and their goals more ambitious, Bloomberg added.
2. M&A - Real Estate Climate Risk Software:PEXA Group has acquired Land Insight -- an Australian environmental risk data analytics company. Land Insight’s software and climate risk data allows customers to assess and respond to the increasing impacts of natural hazards on the use and value of land, the buyer said. PEXA's overall software portfolio allows governments, financial institutions, banks and property practitioners to estimate the future value of property.
C. Regional and Global Sustainability Policies and News
1. The Americas - Urban Sustainability Plans: The city of Austin, Texas was selected as one of 24 cities to participate in the Cities Forward program, a new initiative promoting collaboration between the United States, Latin America and the Caribbean to build local urban sustainability plans, The Daily Texan reported.
2. European Union and COP28: EU countries are preparing to push for a global deal on phasing out fossil fuels at the United Nations COP28 climate summit, a draft of the EU's negotiating position showed, according to Reuters.
3. Australia - Energy Shortfall?: The country's grid operator sees risks of energy shortfalls over the next 10 years as the nation retires 62% of the coal power fleet that still provides most of its electricity, Bloomberg reported.