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 152 companies and organizations. Today's additions include CoStar Grou and De Beers Group.
2. Partner Programs: Our database tracking sustainability partner programs now spans more than 90 companies. The latest additions are Natec (solar product wholesaler in Europe), Suppeco (a provider of SaaS-based software for supply chains and partner ecosystems), and Wesco (distribution and supply chain management).
3. Partnership - Supply Chain Management: Suppeco and DitchCarbon have partnered to "empower Suppeco clients in identifying climate risks within their supply chain," the two companies said.
4. Smart Grid Partner Program: Jesstec Industries has agreed to resell Tantalus Systems' smart grid technology for sustainable utilities in Canada, the companies said.
5. Partnership - Solar and Battery Systems: Enphase Energy and Natec have expanded their distribution partnership in Europe.
6. Partner Program: Wesco has formed the Innovation Partner Ecosystem to help customer achieve goals involving electricity, grid modernization, sustainability and more. Key partners include APC, Arcules, Axis Communications, Belden, Bosch, Cisco, Commscope, Corning, Crestron, DMI, Eaton, Leviton Manufacturing and Panduit, among others. At the same time, Wesco has also expanded its global IoT advisory services.
7. Data Centers - Power Purchase Agreements: Check out this power purchase agreement guide from the World Business Council for Sustainable Development.
8. Internet of Things (IoT): Delta, which develops power and thermal management solutions, has unveiled the Intelligent Sustainable Connecting Hub. The hub allows companies to manage carbon emissions inventory, renewable power matching, and more, the company said.
9. Solar Power - Infrastructure Price War: The world’s largest solar manufacturer slashed prices for a key component as growing capacity in the sector intensifies cost competition, Bloomberg reported. The details: Chinese company Longi Green Energy Technology Co. cut wafer prices by as much as 31% on May 29, 2023, the report said. Wafers are silicon squares that are wired up and pieced together to form solar panels, Bloomberg noted.
B. Sustainability M&A, Investments and Funding
1. Funding - Maritime Sustainability: Zero44 has raised €2.5 million in early stage funding. The startup, based in Berlin, develops a cloud-based software platform for maritime emissions management.
2. M&A - Logistics Software: Venture capital firm Rize Strategic Capital has acquired Axis Total Management Solutions (TMS), a Software as a Service (SaSS) platform for the trucking and logistics industry. Financial terms of the deal were not disclosed.
3. M&A - Solar & Special Purpose Acquisition Company (SPAC): Sunergy Renewables, a Florida-based provider of residential solar and energy efficiency solutions, plans to merge with ESGEN Acquisition Corp. -- a SPAC. In 2022, Sunergy revenue was roughly $123 million and EBITDA was roughly $11 million, the company said. The pro forma implied enterprise value of the combined company is expected to be $475 million. ESGEN is backed by Energy Spectrum, a well-known energy infrastructure investment firm with a track record of more than 25 years, $4.5 billion of total equity capital commitments, and nearly $2 billion of assets under management.
C. Regional and Global Sustainability Policies and News
1. Global Climate Plan Proposal: A top-level meeting in Paris -- scheduled for June 2023 -- will lay out a $100 billion plan to drive more money into climate and development finance in poorer countries by providing currency guarantees to investors, Reuters reported. The plan was sent to the world's governments ahead of the "Summit for a New Global Financing Pact"by the Bridgetown Initiative spearheaded by Barbados leader Mia Mottley.
2. European Union - Green Pushback: Leaders and companies in Europe’s biggest markets are increasingly balking at the ambitious pace of the continent’s green push as they confront the massive costs associated with economic transformation, Bloomberg reported. The European Union’s drive to make the continent climate-neutral has coincided with emergency rules to mitigate the effects of an energy crisis and increasing competition from the US and China. This has put great pressure on governments and companies, sparking calls from French President Emmanuel Macron and other leaders for a slower pace, the report said.
3. Europe - Private Jet Pushback: Austria, France, Ireland and the Netherlands have called on the European Union to toughen laws to curb the impact of private jet travel on the climate, Reuters reported.
4. Singapore - Partnership: UOB and Keppel are partnering to develop and provide businesses across the region with a "comprehensive suite of sustainability and digitalisation solutions that will support their journey towards decarbonisation," the two companies said.
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