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 Developments
1. New Corporate Sustainability Reports: Our database tracking corporate sustainability reports and associated Net Zero goals now spans 98 companies and organizations. Today's additions include Semtech and Tesla.
2. Chief Sustainability Officer: Li-FT Power Ltd. has hired April Hayward as chief sustainability officer, effective June 1, 2023. Li-FT is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties, specifically lithium pegmatite projects located in Canada.
3. AWS - Scope 3 Reports: Amazon Web Services will share its Scope 3 greenhouse gas emissions data in early 2024. The statement surfaced after a ComputerWeekly report criticized AWS for failing to offer such a tool and associated carbon footprint visibility.
4. IT Consulting and Sustainability: Capgemini is "accelerating on our Sustainability training on key topics such as net zero strategies, clean tech, circular economy, or biodiversity," CEO Aiman Ezzat said in the company's Q1 2023 earnings report. "We are also exploring the most relevant use cases in Artificial Intelligence, notably through our new Generative AI Lab." The company's overall revenues rose 10.9% in Q1 of 2023 vs. Q1 of 2022.
5. Research - Energy Crisis and Network Operators: Escalating energy prices are the prime concern for 53% of network operators, according to Arelion research. The result: 73% of U.S. network operators have increased investment to make their network operations more energy efficient, the research said. Moreover, 65% of U.S. decision makers are speeding up and strengthening their network sustainability efforts, the report said.
B. Sustainability Partnerships, Alliances, M&A & Investments
1. M&A: Cority, backed by private equity firm Thoma Bravo, acquired Greenstone, a developer of sustainability software solutions. Financial terms were not disclosed.
2. M&A - Environmental Consulting: Montrose Environmental Group is acquiring Matrix Solutions Inc., one of Canada’s leading environmental and engineering consulting companies. Financial terms of the deal were not disclosed.
3. Funding - Network Software and Telco Sustainability: Mavenir announced a $100 million capital raise -- following its successful $250 million fundraise in 2022. Mavenir's largest shareholder -- private equity firm Siris -- led the latest round. In a prepared statement, Mavenir CEO Pardeep Kohli said: “This new capital will allow us to accelerate our capabilities in automation, sustainability, and use of AI as we enable our customers to efficiently deploy and operate Open RAN based end-to-end cloud-native networks. Our unique strategy incorporates best practices from the hyperscale, cloud and IT industries, to transform how the world connects and builds the future of networks.”
4. Financing - Solar Power: KKR has committed to purchasing $550 million of solar energy loans made to SunPower customers. The agreement, subject to customary post-closing conditions, will support SunPower Financial's continued ability to offer attractive loan options to its customers. SunPower develops solar storage solutions.
5. Partnership - Climate Consulting: Accenture Ventures Project Spotlight is working with Cervest, an AI-powered climate intelligence (CI) platform, to deliver "on-demand access to historical, current and predictive views of combined climate risks to assess and address asset and portfolio vulnerabilities for clients across industries," the companies said.
6. Partnership - Texas Solar Farm Project: Swift Current Energy has lined up financing and deployment partners for its Tres Bahias Solar project in Southeast Texas. The solar project, currently under construction, expected to commence operations by the end of 2023. First Solar is supplying the solar panels, and IEA Constructors is tackling the buildout.
7. Partnership - New Mexico Wind Power: Pattern Energy Group LP has selected Quanta Services, Inc. (NYSE: PWR) and Hitachi Energy to build its SunZia Transmission and Wind project. The project will enable access to over 3,500 MW of New Mexico wind power, providing "clean, reliable, and affordable electricity across Western states," Pattern Energy said.
8. Financing - Solar Power: KKR has committed to purchasing $550 million of solar energy loans made to SunPower customers. The agreement, subject to customary post-closing conditions, will support SunPower Financial's continued ability to offer attractive loan options to its customers. SunPower develops solar storage solutions.
C. Regional and Global Sustainability News
1. Germany: The country will contribute 2 billion euros to the Green Climate Fund.
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