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Sustainability News for Technology Partners: 10 May 2023

May 10, 2023 by Joe Panettieri

Here is today’s sustainability news, research and analysis for technology partners, management consultants, CIOs, chief sustainability officers (CSOs) and c-suite members.

Got News to Share? Email me the details.

A. Sustainable Technology & Talent Developments

1. New Corporate Sustainability Reports: Our database tracking corporate sustainability reports and associated Net Zero goals now spans more than 105 companies and organizations. Today's addition involves recruitment technology company Matrix.

2. Cloud Services - Carbon Calculator: IBM has developed a Cloud Carbon Calculator to help partners and customers "address greenhouse gas emissions to advance their sustainability objectives, according to IBM Cloud Infrastructure Services GM Satinder Sethi.

3. Consulting - Sustainability Tips: There are three keys for a sustainability-focused operating model, according to Tata Consultancy Services.

4. Talent - Chief Sustainability Officer: Hindustan Coca - Cola Beverages (HCCB) has named Himanshu Priyadarshi as chief public affairs, communications and sustainability officer, according to BW People.

5. Talent - CIO: Montrose Environmental Group named John ("JJ") Jackson as chief information officer.

6. Earnings: Multiple sustainable technology companies announced quarterly financial results. Here's a recap:

  • Bloom Energy announced revenue of $275.2 million for Q1 of 2023, up 36.9% from Q1 of 2022. Net loss to shareholders was $71.6 million -- which was smaller than the $78.4 million net loss in Q1 of 2022. Revenues generally beat Wall Street's expectations, though income fell slightly short of Wall Street's targets, SeekingAlpha said.
  • Ormat Technologies, a geothermal, energy storage, solar PV and recovered energy power company, said revenue was $185.2 million in Q1 of 2023, up nearly 1% from Q1 of 2022. Net income attributed to shareholders was $29 million, up 57.5% from $18.4 million in Q1 of 2022. The figures generally fell short of Wall Street's expectations, SeekingAlpha reported.
  • Tantalus Systems, a smart grid technology company focused on sustainable utilities, generated $10.4 million in revenue for Q1 of 2023, up 12% compared to Q1 of 2022.

7. Infrastructure - Electric Vehicle (EV) Charging Stations: IKEA in Wales announced a £4.5million investment in a nationwide electric charging infrastructure, which will provide charging points for electric delivery vehicles across the country to enable more emissions-free deliveries, according to Business News Wales.

8. Toyota - Lobbying Debate: A trio of European asset managers has submitted a shareholder proposal urging Toyota Motor Corp. to improve disclosure of its lobbying on climate change, likely the first time such a resolution will go before the Japanese automaker's investors, Reuters reported.

B. Sustainability Partnerships, Alliances, M&A & Investments

1. M&A: Montrose Environmental Group acquired GreenPath Energy, a provider of gas imaging and fugitive emissions management services.

2. Funding - Sustainable Data Centers: Climate Adoptive Infrastructure (CAI), through a relationship with DigitalBridge, plans to invest up to $300 million in sustainable digital infrastructure. The first investment involves Switch, a 100% renewable-powered data center platform. Financial details about the investment were not disclosed.

3. Partnership - ESG Software and Financial Services: Q4 Inc. and Novisto are partnering to enable ESG data management for investor communications.

C. Regional and Global Sustainability News

1. COP28 - Policy: COP28 president designate and UAE minister for industry and advanced technology, Sultan Ahmed Al Jaber, urged the oil and gas industry to eliminate methane emissions by 2030 and adopt comprehensive net zero plans by 2050, Mint reported.

2. United States - Data Center Funding: The U.S. Department of Energy (DOE) announced $40 million in funding for "15 projects that will develop high-performance, energy efficient cooling solutions for data centers." Recipients are involved in ARPA's COOLERCHIPS project.

3. United States - Offshore Wind Farms: Southern California’s Port of Long Beach unveiled plans to build the biggest offshore wind manufacturing facility at any U.S. seaport, aiming to churn out turbines as tall as the Eiffel Tower, The Hill reported.

4. United States - Supreme Court Concerns: The fossil fuel industry has pervasive influence on the U.S. Supreme Court, according to White House allegations.

5. Norway - Wind Power Taxes: As the United States and European Union throw billions at building out the industry needed for the transition to a low-carbon economy, Norway is spooking investors by slapping taxes on wind farms, Bloomberg reported. Norway is implementing the taxes to help offset the cost of pensions, health services and care for the elderly -- which have outpaced mainland revenues, Bloomberg said.

6. England - Wind Energy Expansion: Britain’s wind farms generated more electricity in the first quarter of 2023 than gas for the first time, a report from Imperial College London showed, according to Reuters.

7. Italy - Lawsuit: Environmental groups Greenpeace and ReCommon launched a lawsuit against Italian energy group Eni for contributing to climate change with its fossil fuel businesses, Reuters reported.

8. Africa - Renewable Power Needs: Africa will need more than $700 billion in finance over the next decade to develop renewable power and mines to extract the metals required for the green energy transition, according to Standard Bank Group, Bloomberg reported.

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