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. IT Services: Kyndryl reduced is Scope 1 emissions by 9% and Scope 2 emissions by 8%, compared to fiscal 2023 baseline, the IT services provider said. Related Podcast: Kyndryl Chief Sustainability Officer Faith Taylor describes sustainable business and IT services strategy.
2. Consulting: David Dickson has joined Rennie to lead the consulting company's Sustainability advisory group, the company said. Rennie, founded in 2021, is a sustainability consultancy based in Melbourne, Victoria, Australia. The company has 66 employees listed on LinkedIn as of September 2024.
3. Microsoft - Green Hydrogen Data Centers: Microsoft will leverage zero emissions green hydrogen in its data center power control and administration building in Dublin, Ireland, the software company said. The pilot project taps ESB Hydrogen Fuel Cells for power.
4. Microsoft Talent - Carbon Removal Expertise: Microsoft has hired Shell veteran Jessica Hinojosa as carbon removal program manager. On LinkedIn, she wrote: "I’m doubling down on my belief that the VCM [Voluntary Carbon Market] is critical to reaching any of our climate targets, and we need more ambitious movement in this space. Though it might be a little trite, I think the quote that sums it all up is the old proverb about tree planting: “The best time to plant a tree was 20 years ago. The second best time is now.”
5. Cisco Systems: During Climate Week NYC, multiple Cisco executives described how the company's products are becoming "more energy efficient, as well as modular, recyclable, and reusable (that is, circular)," delivering benefits that can "cascade across industries, countries, and continents."
6. Apple Perspectives: Chief Sustainability Officer Lisa Jackson considers environmental regulation to be both welcome and essential, since it levels the playing field for all companies, Apple Insider reported.
7. HP Hardware - Circular Economy Honor: Market research firm Frost & Sullivan applauded HP for "improving product repairability, reusability and recyclability," the two organizations said.
8. Research - Carbon Accounting Software Market Growth Forecast: The global carbon accounting software market will reach $102.9 billion by 2032, which represents a 22.9% compound annual growth rate (CAGR) from 2024, SNS Insider predicted.
9. Partnership - Carbon Credits and Carbon Accounting Software: SAP SE and Ambipar have partnered to launch Net Zero as a Service. The service combines SAP's cloud solutions with Ambipar's carbon credit expertise. The effort involves:
- End-to-end carbon management using SAP's ERP and AI software.
- Access to certified carbon credits through Ambipar's AMBIFY platform on the SAP Store.
- Establishing a common data foundation for emissions measurement and decision-making.
10. Partner Program - Electric Vehicles: Ola Electric has launched a Network Partner Program to accelerate sales across India, multiple media outlets reported.
11. EV Charging - Business Milestone, Challenges: Blink Charging has surpassed 100,000 EV chargers sold, deployed, or contracted globally, the company said. Still, the milestone surfaces during a challenging time for the EV charging company. Blink Charging layoffs will impact 14% of employees, resulting in annualized savings of approximately $9 million, the company said in September 2024. The job cuts arrive ahead of a planned CEO transition. Blink Charging Chief Operating Officer Mike Battaglia will succeed President and CEO Brendan Jones on February 1, 2025, the EV charging company announced in August 2029.
12. OpenAI Growth and Financial Losses: OpenAI expects to lose roughly $5 billion in 2024 on $3.7 billion in sales, The New York Times reported. The ChatGPT software provider expects to generate $11.6 billion in revenue for 2024, and $100 billion by 2029, the report added. The target growth metrics include price hikes, The Times said.
B. Sustainability M&A, Climate Tech Investments, Funding and Green IT Business Launches
1. Funding - ESG Data Management: Briink of Berlin, Germany has raised €3.85 million (US$4.31 million) in seed funding. The company develops software to help customers manage their ESG data.
2. Funding - Italy Startups: Mito Tech Ventures, a new fund launched by Mito Technology has raised €50 million (US$56 million) to invest in climate tech startups -- primarily in Italy, Startup Business reported.
3. Funding - EV Charging: AmpUp, an EV charging platform company has raised $15 million in Series A funding. The company plans to use the money for U.S. expansion and R&D. We don't know the valuation terms. Touchdown Ventures led the round. Additional investors include Autotech Ventures, MUUS Climate Partners (MUUS), Holman, Goodyear, Foothill Ventures, WEX Venture Capital, TechNexus Venture Collaborative, Powerhouse Ventures, and Connecticut Innovations, among others.
4. Interest Rates and Climate Tech: It’s wrong to expect that potential interest-rate cuts from the Federal Reserve will suddenly revive the green transition, according to Barry Norris, the founder and chief investment officer of UK hedge fund Argonaut Capital Partners.
5. Interest Rate Penalty: London & Quadrant Housing Trust has missed a key emissions target, triggering a penalty that will require it to pay a higher interest rate on £300 million ($401 million) of its bonds, Bloomberg reported.
6. Cash Crunch: Monolith Materials -- a clean-energy startup with big Wall Street backers and a deal for a $1 billion government loan -- is running short on cash and facing project delays, potentially jeopardizing its long-promised expansion, The Wall Street Journal reported. Monolith says it has raised additional funding to continue operations.
7. M&A: Honeywell has completed the acquisition of Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion. This is Honeywell's fourth acquisition of 2024. The purchases align with three "megatrends" involving automation, the future of aviation and the energy transition, Honeywell said.
8. M&A - Consulting Services: TRC Companies, an energy transition consultancy in Connecticut, has acquired Garanzuay Consulting of Dublin, Ireland. Garanzuay's customers include transmission system operators, utilities, energy market operators and their participants. Financial terms of the deal were not disclosed.
9. 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. COP29: The United Arab Emirates is striving to release a new national climate plan before the COP29 summit in November, Reuters reported.
2. United States Power Outages: Roughly 2 million customers remain without power several days after Hurricane Helene struck Florida, Georgia, the Carolinas and several other states, according to PowerOutage.US.
3. United States - AI Legislation: California Gov. Gavin Newsom vetoed an AI safety bill that stirred controversy between some major tech companies and esteemed scientists who developed the technology, SeekingAlpha reported.
4. United States - Solar Tariffs: U.S. trade officials this week may impose new tariffs on solar panels from four Southeast Asian nations that American manufacturers have complained employ unfair subsidies that make U.S. products uncompetitive, Reuters reported.
5. Britain Ends Coal Energy Production: Britain will become the first G7 country to end coal-fired power production with the closure of its last plant, Uniper’s Ratcliffe-on-Soar in England’s Midlands, Reuters reported.
6. European Union vs. China: The European Union on October 4 may vote on whether to introduce tariffs as high as 45% on imported EVs made in China, Bloomberg reported.
D. Sustainability and Green Technology Conference Calendar
- Sustainability Expo Europe 2024 (October 1-2, Amsterdam, The Netherlands)
- Industrial Decarbonization North America 2024 (October 1-2, Pittsburgh, Pennsylvania)
- ESG Africa Conference 2024 (October 1-2, Gauteng, South Africa)
- ClimateTech 2024: MIT Technology Review's Sustainability Conference (October 2, Cambridge, Massachusetts)
- Sustainable Industry Live 2024 (October 6, Manchester, United Kingdom)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
Future Updates: If you have news to share then please email me the details.
Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
