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Sustainability News for Green IT and Technology Partners: 31 August 2023

August 31, 2023 by Joe Panettieri

Here is today’s sustainability news, research and analysis for technology partners, renewable energy and green IT companies, management consultants, CIOs, chief sustainability officers (CSOs) and c-suite members.

Got News to Share? Email me the details.

A. Sustainable Technology, Talent, Partnerships and Alliances

1. Annual ESG Reports: Our global database of annual sustainability and ESG reports now spans 283 companies. The latest addition is Logitech International.

2. Chief Sustainability Officers (CSO) List: Our database of chief sustainability officers now spans 321 CSOs. The latest addition is Zaidatul Zurita Abdul Rahman, head of sustainability, Johor Corp. Group.

3. Apple Mentors Environmental Startups: Apple has launched its third Impact Accelerator class. The cohort includes 12 Black-, Hispanic/Latinx-, and Indigenous-owned environmental solution and service providers focused on green technology and clean energy. The new cohort will participate in a 12-week program and receive targeted trainings, executive coaching, skills-development opportunities, one-to-one mentorship, and access to Apple subject-matter experts across the business, Apple said.

4. Microsoft Mentors Sustainability Startups: Microsoft is launching an equity-free accelerator for sustainability startups. The Microsoft GrowthX accelerator: COP28 edition will conclude with a demo day at the annual climate conference in Abu Dahbi.

5. Where Are Electric Vehicle (EV) Charging Stations?: Drivers with Amazon Alexa-enabled vehicles as well as automotive accessories like Echo Auto can now ask Alexa to help them find and navigate to nearby EV charging stations, EVgo announced.

6. Reseller Partnership: TimeToAct, a consulting firm in Germany, has agreed to resell Sustaira's sustainability software solutions in the DACH region.

7. SEC Settlement - Green Hydrogen Solutions: Plug Power announced a settlement with the U.S. Securities and Exchange Commission related to several of the company's annual and quarterly reports -- which the company corrected in May 2021. Without admitting or denying the SEC findings, Plug Power agreed to pay a $1.25 million civil penalty. The company could face an additional $5 million penalty if Plug Power doesn't fully implement corrective measures during a specific SEC-mandated time period.

8. SEC Climate Related Disclosure Policy - Legal Challenges Coming: The U.S. Securities and Exchange Commission is expected to announce Climate Related Disclosure requirements in October 2023. Even before announcement, concerns are rising that the new rule could be outside the SEC’s authority and unable to sustain a legal challenge before the Supreme Court, according to Forbes contributor.

9. Amazon Intern: An Amazon intern -- Zegale Talmadge -- offers these six sustainability terms that you should know.

B. Sustainability M&A, Investments and Funding

1. M&A - Sustainable Energy: Priority Power Management, backed by private equity firms Oaktree Capital Management and Ara Partners, acquired Atlas Retail Energy. Priority Power is an energy management services, procurement and energy infrastructure development and management firm that delivers sustainable energy solutions to over 8,500 commercial and industrial clients in roughly 45 states. Atlas Retail Energy is an energy procurement organization in the Northeast serving customers across the United States. Financial terms were not disclosed.

2. M&A - HVAC Solutions: Smiths Group, an industrial technology company, has acquired Heating & Cooling Products (HCP), a US-based manufacturer of Heating, Ventilation & Air Conditioning (HVAC) solutions. The purchase price was US$82 million (approximately £65 million) on a cash and debt-free basis. HCP’s unaudited revenue for the 12 months to 31 July 2023 was $69 million (approximately £55 million). The deal's valuation was less than 7x estimated 2023 EBITDA. HCP will be integrated into Smith’s Flex-Tek division.

3. All M&A Activity: Our M&A database has now tracked 125 mergers and acquisitions so far in 2023. See all M&A deals involving sustainability listed here.

C. Regional and Global Sustainability Policies and News

1. Unite States - Wind Energy Challenges: Wind energy giant Orsted said delays in U.S. may cost the company $2 billion, The New York Times reported. Indeed, supply chain problems and high interest rates are hurting U.S. projects, the Danish company said, according to the report.

2. Chile: Chilean companies are putting more focus and resources into sustainability, although there is still a long road ahead when it comes to putting the principles into practice as most sustainability projects are focused on governance, according to a study carried out by the Santiago chamber of commerce (CCS), non-profit Accion Empresas and CLA Consulting, BNAmericas reported.

3. Indonesia - Sustainability Consulting: KPMG will spend about $10 million over the next five years in Indonesia to create roughly 300 jobs focused on business transformation, security engineering, data science, sustainability and climate change, the global IT consulting firm said.

D. Sustainability and Green Technology Conference Calendar

  1. Sustainability Live 2023 (Sept. 6-7, London, United Kingdom)
  2. ICSD 2023 Sustainability Conference (September 6-7, Rome, Italy)
  3. Sustainability Reporting Europe 2023 (September 6-7, London, United Kingdom)
  4. Reuters Impact 2023 (September 6-7, London, United Kingdom)
  5. RE+ (September 11-14, Las Vegas)
  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: Send Us Your News Tips. Please email me the details.

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