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. Corporate Sustainability Reports Database: Our database tracking corporate sustainability reports and associated net-zero goals now spans 188 companies and organizations. Today's additions include Chalhoub Group, Crown Holdings, NTT Data and TE Connectivity.
2. IT Services: NTT DATA now expects to achieve net-zero carbon emissions by 2040 -- which is 10 years faster than the company's previous 2050 target date.
3. Partnership - IT Services and Telecom Services: Cognizant has joined the AT&T Connected Climate Initiative (CCI), an industry consortium dedicated to eliminating one billion tons (the Gigaton Goal) of CO2 emissions by 2035 through the use of connectivity solutions and technology.
4. Global 2000 Companies - Net-Zero Concerns: Among the world's 2,000 largest companies, these vertical markets have particularly high percentages of businesses without any emission reduction target at all, according to the Net Zero Stocktake 2023 report:
- Biotech, Health Care & Pharma (44%);
- Infrastructure (46%); and
- Retail (26%).
5. Greenwashing Lawsuit - Aviation: A greenwashing lawsuit against Delta is seeking to set a precedent, Bloomberg noted.
B. Sustainability M&A, Investments and Funding
1. M&A - Private Equity and Renewable Energy: Private equity deal activity involving environmental sustainability in the power industry decreased 26% in Q1 of 2023 compared to Q1 of 2022, according to Power Technology. Environmental sustainability accounted for 53 power deals announced in Q1 2023, worth a total value of $3.2 billion, the report said.
2. M&A - Renewable Energy: Brookfield Renewable is acquiring Duke Energy Renewables, a renewable energy provider that has wind, solar and energy storage power assets. The purchase price was $2.8 billion.
3. M&A Database: Our database tracking M&A deals involving sustainable technology & energy has grown to 76 transactions for 2023.
4. Financial Services: JPMorgan Chase & Co's Securities Services division is launching a sustainable investment data solutions initiative for institutional investors in a bid to make investments in ESG easier, Reuters reported.
5. Financial Services: BlackRock has launched the Brown to Green Materials Fund -- which targets undervalued carbon-intensive companies that produce the raw materials and products driving the energy transition, Reuters reported.
C. Regional and Global Sustainability Policies and News
1. United States - Hydropower Legislation: House Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-WA) has introduced the Hydropower Clean Energy Future Act to "expand clean, renewable, reliable, and affordable hydropower production in America, as well as to promote the innovation of the next generation of hydroelectric technology," an announcement said.
2. United States - E-Waste Recycling: The U.S. Department of Energy (DOE) announced more than $192 million in new funding for recycling batteries from consumer products, launching an advanced battery research and development (R&D) consortium, and the continuation of the Lithium-Ion Battery Recycling Prize, which began in 2019, the DOE said.
3. Germany and Austria - Home Energy Management: Enphase Energy, a global energy technology company that supplies microinverter-based solar and battery systems, has launched the IQ Energy Router family of devices in Germany and Austria. The platform enables customers to monitor selected third-party electric vehicle (EV) chargers and heat pumps, along with Enphase solar and battery systems.
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