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. Research - Green Technology Market Growth Forecast: The global Green Technology and Sustainability Market will reach $121.05 billion by 2032, up from $23.37 billion in 2023, according to Polaris Market Research. That's a 20.7% compound annual growth rate (CAGR), the research firm said.Â
2. Amazon Updates: Amazon and AWS announced multiple sustainability milestones and updates. Among the details to know:
3. Microsoft Pursues Carbon Credits: Carbon capture firm 1PointFive has entered into an agreement with Microsoft to sell the tech giant 500,000 metric tons of carbon dioxide removal (CDR) credits over six years, Reuters reported. The agreement is a part of Microsoft's goal to become carbon negative by 2030, the report noted.
4. Open Source: IBM Research will open source TensorLakehouse, a tool that helps users to "dramatically simplify" geospatial data analysis. IBM believes that "open science principles, supported by open standards and open-source code, are crucial accelerators for scientific progress." Moreover, IBM sees open source as a "key to advance AI for climate and sustainability."
5. Partner of the Year: Lenovo has named TD Synnex as its UK Distribution Partner of the Year and its Lenovo 360 Circle Global Partner of the year. The latter award honors TD Synnex for its sustainable IT services efforts. TD SYNNEX has participated in working groups with Lenovo on energy efficiency, device lifecycle management, product sustainability attributes, learning and development, social council and sustainable materials.
6. Partnership - Quantum Computing: The French electric utility company EDF, along with quantum computing companies Quandela and Alice & Bob, and the French National Centre for Scientific Research (CNRS), are partnering to "optimize energy consumption in quantum computing."
7. Partnership - R&D: NTT Corporation and biotechnology firm Euglena have unlocked a new technique for breeding algae. The joint effort could "solve various issues related to climate change by improving the amount of CO2Â absorbed by algae and by breeding and producing algae that are useful for various purposes," the two companies said. NTT, known for its global IT services, is working on multiple fronts to address sustainability and carbon reduction opportunities worldwide. Key moves include launching NTT Green & Food Corporation in 2023.
8. Partnership - Software and Consulting: Vizient, a provider of healthcare analytics and consulting services, and carbon accounting platform provider Greenly are partnering to "boost greenhouse gas data solutions for providers and suppliers," the two companies said.
9. Partnership -Software and Certification: Persefoni and GARP (Global Association of Risk Professionals) are partnering to further advance GARP's Sustainability and Climate Risk (SCR) Certificate Program.
10. Partnership: - XBRL Tagging: Cority and CoreFiling are partnering to help customers "collect, manage, analyze, and report on sustainability performance across the entire value chain." The effort focuses on effective XBRL tagging in sustainability reporting.
11. Partnership - Software Defined Vehicles: Thoughtworks, with help from AWS, has launched Software-Defined Vehicle (SDV) Pulse, an inaugural annual report that will help "global clients in the automotive industry transition to SDV."
12. FAQ - GRI and European Sustainability Reporting Standards: The GRI and Sustainability Reporting in the EU Q&A is designed to "help organizations understand what the new European Sustainably Reporting Standards mean for use of the GRI Standards."
13. Standards - CSRD Workshops: Sustainserv is launching a workshop and certification program that will feature Prof. Dr. Alexander Bassen and Prof. Dr. Kerstin Lopatta, who are both affiliated with the University of Hamburg. The duo led the development of the ruleset behind the Corporate Sustainability Reporting Directive (CSRD), the European Sustainability Reporting Standards (ESRS).
14. AI Chip Hoarding: Venture capital firm Andreessen Horowitz has purchased thousands of AI chips and is renting them to portfolio companies, The Information reported. The strategy spans more than 20,000 GPUs -- many of which are from Nvidia.
15. OpenAI Boardroom: Microsoft and Apple will drop their OpenAI boardroom observer seats amid antitrust scrutiny, the Financial Times reported.
16. Tesla Robots: Tesla's new Optimus design will be complete before 2025, CEO Elon Musk said on X.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. Investigation: Three years after pursuing a $2 billion IPO, Aspiration Partners now faces probes by US authorities, Bloomberg reported. Aspiration Partners developed a debit card for sustainable shopping.
2. Investment: Zara owner Inditex has acquired a stake in the U.S.-based sustainable agriculture startup Galy as part of its strategy to invest in the sustainable economy, Reuters reported. The investments should help Inditex meet its commitment to have 40% of its fibres coming from conventional recycling and 25% from so-called next-generation materials by the end of the decade, Reuters added. Financial terms of the investment were not disclosed.
3. Startup - Hospitals:Â Boston Medical Center Health System (BMCHS) and investment firm Omicelo have partnered to form Oakwell, a consulting firm that helps hospitals and health systems to develop custom energy efficiency and consumption reduction programs. Customers will gain "improve balance sheets, and free up capital that can be reinvested in patient care," the co-founders said.
4. Startup - Consulting: Impact Pathways Inc., a startup consulting firm led by co-founders Chris Hagler and Sheffield Goodrich, plans to help "organizations of all sizes and public and private investors be better prepared to set, monitor, and achieve their sustainability ambitions while creating and protecting financial value."
5. M&A - Data Centers: Digital Realty has acquired a colocation data center in the Slough Trading Estate for $200 million. The acquisition expands Digital Realty into the west London submarket. The data center will be powered entirely by renewable energy.
6. M&A - LNG: Honeywell has acquired Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This represents approximately 13x estimated 2024 EBITDA. The deal will "build on Honeywell's energy transition capabilities by creating an end-to-end offering for customers worldwide," the buyer said.
7. 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. India - Research: Roughly 75% of large Indian companies have set clear sustainability goals, with 84% voluntarily sharing their targets, according to Uniqus Consultech and IMA India.
D. Sustainability and Green Technology Conference Calendar
- Sun Valley Forum 2024Â (July 15-18, Ketchum Idaho)
- CSR and Sustainability Summit MOZ 2024Â (July 17-18, Mozambique)
- Siemens Transform 2024Â (July 17-18, United Kingdom)
- ITAD 2024Â (July 23-24, Miami Beach, Florida)
- XeroCon Nashville 2024Â (August 14-15, Nashville, Tennessee)
- 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.
