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Sustainable Technology News 10 June 2024: Apple WWDC, BaxEnergy, FIS Climate Risk Financial Modeler, More

June 10, 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. Apple WWDC: At this week's Apple Worldwide Developer Conference (WWDC), watch for a major artificial intelligence push -- known simply as Apple Intelligence -- spanning the company's current and future product lines. We'll be watching to see if or how Apple Intelligence focuses on sustainability, circular economy and e-waste reduction strategies. Related: Apple's sustainability strategy and partner opportunities.

2. ESG Software Market Growth Forecast: The ESG Reporting Software market will reach $2.1 billion by 2029, up from $900 million in 2024, according to MarketsandMarkets. That's a is 17.0% compound annual growth rate (CAGR) the market researcher said.

3. Climate Risk Modeling Software: FIS has launched Climate Risk Financial Modeler, a SaaS-based solution that helps businesses to assess, reduce and report their exposure to the physical risks of climate change.

4. Automobile Supply Chains: Hyundai and Kia plan to require stricter ESG compliance from their subcontractors, the Korea Economic Daily reported.

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

1. M&A - Renewable Energy Management (REM): Yokogawa Electric Corp. has acquired BaxEnergy, a provider of renewable energy management solutions (REMS) that work with. existing IT and business systems. Financial terms of the deal were not disclosed.

2. Funding: Galvanize Climate Solutions and Lightrock have invested in Octopus Energy Group at a $9 billion valuation -- up 15% from a December 2023 valuation.

3. 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. COP30: The Energy Transitions Commission is calling for countries to "triple their climate ambition by COP30." The rally cry recommends:

  • clear and detailed roadmaps for implementation of accelerated climate action backed by strong government policy (e.g., quantitative targets for GW of renewables, phase-out dates for bans on the sale of gasoline or diesel engine vehicles).
  • measurable, comprehensive (covering all sectors and GHGs) and granular targets for emissions reductions.
  • investable plans, especially for emerging markets, clearly stating the investment and international climate finance required to deliver stated targets.

2. United States vs. China Solar Policy: The US government moved closer to imposing new tariffs on solar cells and panels from Southeast Asia after an agency’s initial determination that American manufacturers are being harmed by cheap imports from the region, Bloomberg reported.

3. European Union:  A more rightward-leaning European Parliament will make it harder to pass ambitious EU climate policies, Reuters reported, but the majority of Europe's current world-leading green policies are likely to stay put.

4. New Zealand - Fossil Fuels: New Zealand’s government is pressing ahead with plans to lift a ban on offshore petroleum exploration, citing energy security challenges from “rapidly” declining natural gas reserves, Bloomberg reported.

D. Sustainability and Green Technology Conference Calendar

  1. European Sustainable Energy Week 2024 Conference Dates (June 11-13, Brussels, Belgium)
  2. Responsible Business Europe 2024 (June 11-12, London, United Kingdom)
  3. Decarb Connect 2024 (June 11-13, Germany)
  4. International Conference on CSR, Sustainability, Ethics and Governance 2024 (June 12-14, Sibiu, Romania)
  5. HPE Discover 2024 (June 17-19, Las Vegas)
  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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