Here is today’s sustainability news, research and analysis for technology partners, management consultants, CIOs, chief sustainability officers (CSOs) and c-suite members.
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A. Sustainable Technology, Talent, Partnerships and Alliances
1. New Corporate Sustainability Reports: Our database tracking corporate sustainability reports and associated net-zero goals now spans 130 companies and organizations. Today's additions include Guidehouse, MongoDB, SolarEdge Technologies and Thermo Fisher Scientific.
2. Chief Sustainability Officers: Our database tracking chief sustainability officers (CSOs) now spans 238 executives. The latest addition: Nutrition, health and beauty firm dsm-firmenich has hired Katharina Stenholm as chief sustainability officer.
3. Enterprise Software: SAP announced multiple sustainability software updates at its annual conference, GreenBiz reported.
4. Solar Deployments: Roughly 50% of Fortune 100 companies have SolarEdge technology on their rooftops, the company asserts.
5. Carbon Accounting Calculations: Changes to emissions accounting rules are being considered that could significantly increase carbon footprints for companies claiming to use 100% renewable power in their efforts to decarbonize, The Wall Street Journal reported.
6. Financial Results: Canadian Solar's revenue was $1.7 billion in Q1 of 2023, up 36% compared to Q1 of 2022. Net income was $84 million, up from $78 million in Q1 of 2022.
7. Aerospace: Boeing is rolling out a data modeling tool -- called Cascade -- aimed at helping airlines and policymakers determine the quickest, most efficient path to reducing aviation emissions to zero by 2050, Reuters reported.
8. Private Equity - Net Zero Guidance: The IIGCC has published Net Zero Investment Framework Component for the Private Equity Industry. The guidance provides a "global and cohesive framework for pursuing net zero in the private equity industry, with an emphasis on achieving decarbonization of portfolio companies," the organization said.
9. Talent: Insight Sourcing Group, a North American consulting firm focused on procurement optimization and clean energy, has hired Kane Kiester as VP of energy procurement and management at Insight Energy -- the company's sustainable energy business.
10. Talent - Financial Services: AXA Investment Managers has named Marie Luchet as the new head of ESG and Sustainability at AXA IM Prime.
11. Global Warming Warning: Global temperatures are likely to temporarily breach the 1.5C of warming threshold for at least one of the next five years, according to a new World Meteorological Organization forecast, Bloomberg reported.
B. Sustainability M&A & Investments
1. Funding - Private Equity: Morgan Stanley Investment Management (MSIM) announced today that it has held a first close for the 1GT climate private equity strategy (1GT) at $500 million of equity capital commitments.
2. Funding - Data Management Startup: BeCause, a Copenhagen, Denmark-based startup that helps hospitality, travel, and tourism industries manage their sustainability data, raised $450,000 in funding., FINSMES reported.
C. Regional and Global Sustainability News
1. United States - ESG Investing Debate: A group of Republican-led U.S. states has asked a federal judge in Texas to strike down a Biden administration rule allowing socially conscious investing by retirement plans, saying it will imperil Americans' retirement savings, Reuters reported.
2. England - Energy Policy: The chief of Britain's National Grid said urgent policy and regulatory reforms are needed for the country to hit its energy transition target, after the utility firm posted a 15% jump in annual profit, Reuters reported.
3. India: Only 27% of businesses in India feel confident about their ESG preparedness, according to Deloitte India.
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