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. Consulting - Revenue Growth: Deloitte Switzerland's annual revenue from sustainability services rose 160% in the past fiscal year, and the sustainability services team now spans 146 employees -- up 33% in the past fiscal year. Deloitte Switzerland did not disclose actual Swiss franc or U.S. dollar figures associated with the sustainability services.
2. Consulting - CSRD Compliance: Withum has updated its Sustainability and ESG Practice to help customers comply with the European Corporate Sustainability Reporting Directive (CSRD).
3. AI and Sustainability: Amid continued concerns about generative AI's energy requirements, Schneider Electric has introduced an AI for Energy Transition guide.
4. Partnership - Circular Economy Services: Geared for Green and Source One have partnered to help businesses tackle recycling, sustainability, and supply chain efficiency.
5. Office Expansion: E-CUBE, a consulting firm focused on energy, mobility and climate priorities, has opened a new London office. Moreover, E-CUBE has hired Managing Director Chris Warnes to lead United Kingdom operations.
6. IT and Network Equipment - Green WiFi Routers: GX Group of the Netherlands has launched various WiFi routers and optical networking equipment made from recycled and biodegradable materials. GX Group will promote the solutions to fiber network customers in India.
7. Higher Education - Net Zero Goal: Johns Hopkins University is striving to achieve net zero by 2040, and plans to purchase all electricity from renewable sources by 2030, the university said.
8. Carbon Exchange Closing: Amid muted demand, AirCarbon Exchange (ACX) is closing its operations in Abu Dhabi after only one year of trading, Bloomberg reported.
9. Electric Vehicle (EV) Liquidation Plan: A federal bankruptcy judge has signed off on Fisker’s liquidation plan following last-minute talks to preserve the EV company’s $46 million sale of its remaining 3K Ocean SUVs, SeekingAlpha summarized based on multiple media reports.
B. Sustainability M&A, Climate Tech Investments, Funding and Green IT Business Launches
1. Funding - Renewable Energy: Airloom Energy has raised roughly $13.75 million in financing to further develop its wind turbine business. Key investors include Lowercarbon Capital with participation from Bill Gates' Breakthrough Energy Ventures, WYVC, Crosscut Ventures, WovenEarth Ventures, Adiuvans, and the Kutnick Family Office to support its vision of revolutionizing wind energy generation.
2. For Sale: Honeywell is seeking to sell its personal protective equipment unit to private equity firm Odyssey Investment Partners for about $1.5 billion, Bloomberg reported. Honeywell also plans to spin off its Advanced Materials business into an independent, U.S. publicly traded company. The remaining Honeywell businesses focus on "three powerful megatrends – automation, the future of aviation and energy transition." Honeywell expects its Sustainable Technology Business to generate $1 billion in revenues "in the next few years," CEO Vimal Kapur told Wall Street analysts during Honeywell's Q4 2023 earnings call.
3. M&A - ESG Data and Decarbonization Software: Asuene Inc. has acquired E4G, an ESG data company formed by the Tanaka Kenji Laboratory at the University of Tokyo. Asuene's product and service portfolio spans carbon accounting software, ESG evaluation cloud services, and talent recruiting support. E4G's expertise -- which spans ESG data and CO2 emissions reduction capabilities — will "significantly enhance the value [Asuene] provides to our customers and further expands our platform," the buyer said. Financial terms of the deal were not disclosed.
4. M&A - Consulting: Anthesis has acquired Provision Coalition Inc., a Canadian-based consultancy focused on sustainability in the Agri-food sector. 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. European Union - ESG Funds: The European Union's securities watchdog is considering changes or clarification to incoming ESG rules on the naming of sustainable investment funds, Reuters reported, after investors warned they could make it harder for polluters to access cash they want to decarbonize.
D. Sustainability and Green Technology Conference Calendar
- Textile Printing & Sustainability Conference (TPS) 2024 (October 15-16, Düsseldorf, Germany)
- Sustainability Kongress 2024 (October 16-17 in Berlin, Germany)
- Apidays Australia 2024 (October 16-17, Melbourne, Australia)
- INN 2024 Sustainability Research Conference (October 17-18, Normal, Illinois)
- World Conference on Climate Change & Sustainability 2024 (October 21-23, Barcelona, Spain)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
