Here is today’s sustainability news, research and analysis for technology partners, management consultants, CIOs, chief sustainability officers (CSOs) and c-suite members.
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A. Sustainable Technology, Talent, Partnerships and Alliances
1. Chief Sustainability Officer: ISPT, a property investment firm in Australia, has promoted Steven Peters to chief sustainability officer.
2. Green Data Center Strategies: Tata Consultancy Services offers this guidance.
3. Right to Repair - Apple iPhone Redesign?: Apple may need to redesign the iPhone in order to comply with a European Union mandate, which aims to ensure consumers can replace batteries in devices, Apple magazine notes. The mandate becomes effective in 2027.
4. AI and Green Strategies: Although AI applications may consume more data center power, Google Chief Sustainability Officer Kate Brandt says AI can accelerate climate action, according to The Wall Street Journal.
5. Deadline: Intuit has committed to reach net-zero greenhouse gas (GHG) emissions across its value chain by FY2040.
6. Wind Turbine Concerns: Siemens Energy's stock fell sharply on June 23 after the company scrapped its profit forecast and warned that costly problems at its wind turbine unit could last for years, CNBC reported.
7. Solar Power - Hawaii: Altus Power this summer will complete Hawaii’s largest Community Solar project to date. The project will provide solar power to a medical facility, its employees, and residents of Oahu. ltus Power currently serves more than 20,000 Community Solar subscribers nationwide.
8. Solar Power - California: Fresno Housing and Sunrun held a ribbon-cutting ceremony to celebrate a new solar installation at Blossom Trail Commons, an affordable housing community in Sanger, California. The project provides solar energy to 48 homes and saves each family an average of $70 per month on their electricity bills through the use of virtual net metering, the organizations said.
B. Sustainability M&A, Investments and Funding
1. M&A - Battery Energy Storage System (BESS): Greenbacker Capital Management has acquired a BESS project in Imperial County, California from SunCode. The site's anticipated 120 MWh capacity represents enough energy to power approximately 4119 homes for a 24-hour period, on average, the buyer said. Financial terms of the deal were not disclosed.
2. All M&A Activity: Our M&A database has now tracked 83 mergers and acquisitions involving sustainability so far in 2023. See all M&A deals involving sustainability listed here.
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C. Regional and Global Sustainability Policies and News
1. European Union - Shipping Sector: The EU has proposed net-zero emissions for the shipping sector by 2050 at the latest.
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