Here is today’s sustainable IT services news, research and analysis -- written for technology partners, green IT service providers, CIOs, chief sustainability officers (CSOs) and climate accounting professionals.
A. Sustainable Technology, Talent, Partnerships and Green IT Alliances
1. Cloud Services: Microsoft Azure Carbon Optimization, a new software tool now in preview, "equips Azure developers and IT professionals with the data and insight to optimize the carbon footprint of their cloud consumption," Microsoft said.
2. Research - ITAD Market Growth Forecast: Demand for IT asset disposition (ITAD) services is accelerating. Indeed, the global ITAD market will have a 9.1% compound annual growth rate (CAGR) from 2023 to 2024, The Business Research Company forecasts. Total ITAD spending will reach $28.36 billion in 2028 -- which represents an accelerated 9.7% CAGR from 2024, the researcher said. A separate report, from Research and Markets, predicts annual ITAD spending will reach $34 billion by 2030, up from $16.8 billion in 2022. That's a 9.2% compound annual growth rate (CAGR), the researcher said.
3. Partnership - ESG Consulting Services: Green Mine and Uniqus Consultech are partnering to deliver accounting, reporting and ESG Services in Germany, Austria and Switzerland.
4. Partnership - Plastic Recycling: Global Green USA and Astera and Carbon Conversion Group (CCG) are partnering to recycle plastic waste into "valuable commodities like graphene and graphite," the two organizations said.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. ESG Investor Apathy: Investor interest in ESG is showing signs of stalling, an HSBC survey found, as fund managers instead focus more on tackling an increasingly challenging political and economic climate, Bloomberg reported.
2. Funding - Grid Decarbonization: Axle has raised $9 million in seed funding from Accel, according to TechCrunch. The startup connects EVs, heat pumps, solar panels, and batteries to electricity markets to "help kick fossil fuels out of the grid."
3. M&A - Consulting: CBRE has acquired Paia Consulting, a sustainability consultancy in Singapore. Financial terms of the deal were not disclosed.
4. M&A - Private Equity: Brookfield Asset Management will acquire various thermal management brands from nVent Electric for $1.7 billion. The acquired brands -- RAYCHEM and TRACER -- generated $595 million 2023 sales. Roughly 1,700 employees are involved in the deal. nVent, meanwhile, will sharpen its focus on "megatrends" involving electrification, sustainability and digitization, the company said. The deal surfaces roughly one month after nVent acquired Trachte -- a developer of "control building solutions designed to protect critical electrical infrastructure assets." nVent paid $695 million for Trachte.
5. Complete M&A List: Here's our database of all M&A deals involving green IT and renewable energy buyers, sellers and investors.
C. Regional and Global Sustainability Policies and News
1. Climate Risk and Accounting Standards:Â A global accounting body, known as the International Accounting Standards Board (IASB), proposed guidance on how companies can do more to show the impact of climate change on their financial performance, saying standalone disclosures do not give investors the clarity they need, Reuters reported.
D. Sustainability and Green Technology Conference Calendar
- XeroCon Nashville 2024Â (August 14-15, Nashville, Tennessee)
- World ESG Summit Dubai (August 20-21, Dubai, UAE)
- Tennessee Sustainability Conference 2024Â (Gatlinburg, Tennessee, August 20-23)
- VMware Explore 2024Â (August 26-29, Las Vegas, Nevada)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
- Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
- Future Updates: If you have news to share then please email me the details.
