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Sustainable Technology News 03 June 2024: EY, Flex, FreeFlow, IBM, Microsoft, SBTi, More

June 3, 2024 by Joe Panettieri

Here is today’s sustainability news, research and analysis for technology partners, renewable energy consultants and green IT service providers. Today's sustainability news also involves management consultants, CIOs, chief sustainability officers (CSOs), c-suite members and climate accounting professionals.

A. Sustainable Technology, Talent, Partnerships and Green IT Alliances

1. Microsoft Datacenters: Microsoft has announced a Datacenter Community Pledge -- which calls for the company to "design and operate our datacenters to support society’s climate goals and become carbon negative, water positive and zero waste before 2030," Corporate VP Noelle Walsh wrote in a blog.

2. Partnership - Data Center Testbed: IBM, Syracuse University and New York State have created a Green Data Center to research how energy-efficient technologies can reduce energy costs and environmental impact.

3. AI Chips and Energy Efficiency - Nvidia vs. AMD: At the Computex conference in Taipei, Taiwan, chip giants Nvidia and AMD announced competing AI chip strategies that promise better performance with greater energy efficiency.

4. Financial Accounting and Carbon Reduction: Can your tax function be an asset in a net-zero transition? EY will explain that thesis during a June 25 webcast. Special thanks to an old high school pal for the heads up.

5. SBTi Responds to Bloomberg Article: The SBTi has issued this response to a Bloomberg article that investigated the organization's stance on scope 3 and carbon credits.

6. SBTi Pushback: Swedish fashion giant H&M has come out against an SBTi proposal that would allow companies to use carbon offsets to help meet their environmental goals, The Wall Street Journal reported.

7. Google Cloud Layoffs: Google's cloud unit made sweeping job cuts, Business Insider reported.

8. Partnership: Lummus Technology and Ferroman are partnering to pursue the "digitalization and decarbonization of petrochemical furnace operations and delivery of high-performance static process equipment." Lummus Digital, a joint venture between Lummus Technology and TCG Digital, will also participate in the partnership, the companies said.

B. Sustainability M&A, Investments, Funding and Green IT Business Launches

1. Accelerator: EIT Food Entrepreneurship has three pan-European entrepreneurship programs -- including the Seedbed Incubator, the Food Accelerator Network and RisingFoodStars.

2. Investment - Data Center Technology: Power management technology specialist Eaton has invested in NordicEPOD AS -- which designs and assembles standardized power modules for data centers in the Nordic region. Financial terms of the investment were not disclosed.

3. M&A - Done Deal: Honeywell has completed the acquisition of Carrier Global Corporation's Global Access Solutions business for $4.95 billion. The deal was announced in December 2023. Honeywell's business focus involves "three powerful megatrends - automation, the future of aviation, and energy transition," the company asserts. Still, the company's organic sales growth will be 1% to 4% in Q2, the company forecast as part of the M&A announcement. 

4. M&A - B2B Marketplace: Flex has acquired FreeFlow, a company that specializes in asset disposition and digital circular economy tracking and reporting capabilities. FreeFlow's B2B digital marketplace platform "enables customers to sell surplus and returned inventory while protecting primary sales channels," Flex said. Financial terms of the deal were not disclosed.

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. Germany - Net Zero Challenges: Germany is likely to miss its 2030 greenhouse gas (GHG) targets, government climate advisors said, Reuters reported, contradicting the climate minister's prediction in March 2024 and calling for new policy measures.

2. South Korea - Energy Strategy: South Korea should target major additions of renewables and nuclear power by the late 2030s to curb emissions and meet surging demand from data centers to semiconductor manufacturing, according to a government proposal, as reported by Bloomberg.

D. Sustainability and Green Technology Conference Calendar

  1. Verdantix Sustainability and EHS Summit Europe 2024 (June 4-5, Amsterdam)
  2. Carbon Accounting for Companies and Cities 2024 (June 5-6, Brussels, Belgium)
  3. IPEF Clean Economy Investor Forum 2024 (June 5-6, Singapore)
  4. Regional Grey to Green Chicago Conference 2024 (June 6-7, Chicago)
  5. European Sustainable Energy Week 2024 Conference Dates (June 11-13, Brussels, Belgium)
  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: If you have news to share then please email me the details.
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