Artificial Intelligence
SOLVING THE CLIMATE CRISIS IS WITHIN REACH BUT A LACK OF FORTITUDE THREATENS TO STALL PROGRESS
GENERATION INVESTMENT MANAGEMENT’S 8TH ANNUAL SUSTAINABILITY TRENDS REPORT HIGHLIGHTS THE WEAKENING OF CLIMATE COMMITMENTS AND BREAKING OF PROMISES
LONDON and SAN FRANCISCO, Sept. 18, 2024 /PRNewswire/ — Generation Investment Management, the sustainable investment manager, today published its eighth Sustainability Trends Report, which annually seeks to answer the question of where the world stands in the transition to a low-emissions economy. This year’s assessment analyses how climate promises are starting to resemble New Year’s resolutions: easy to make, hard to keep. It also covers the shifts needed across the global economy – spanning the power sector; transportation; buildings; industry; people, land & food; and climate finance.
Al Gore, Chairman and Founding Partner of Generation Investment Management, said: “Year after year, the world has increased the number and types of solutions available to solve the climate crisis. But leaders across government and business have all too frequently failed to match ingenuity with action. Despite the hype, hope and harmony generated by the agreement at last year’s international climate negotiations to “transition away” from the fossil fuels that are the root cause of the climate crisis, the reality today is that way too little has improved at the pace and scale needed. It is imperative that investors, business leaders and government officials understand that even though the collective ability to solve the climate crisis is within our reach, a lack of courage, fortitude and determination at a global scale threatens to allow the progress that is so urgently needed to slip through our fingers.”
TRANSITION FROM FOSSIL FUELS – WRITTEN INTO INTERNATIONAL LAW AT LONG LAST
The great achievement of the United Nations Climate Change Conference (COP28) held in Dubai in December 2023 was that transitioning away from fossil fuels is now a formal goal of the countries of the world, written into international law. The biggest climate promise ever made is finally on the table and humans have it within their grasp to effect change at the scale and pace required.
The language of the COP28 agreement is fairly weak, however, with calls rejected for using the term ‘phase out’ in relation to fossil fuels, and no detail about how to achieve the transition. But countries did agree to set new goals relating to the energy transition, agreeing to triple the world’s installed base of renewable electricity by 2030. The potential impact of this cannot be overstated because the grid system will become the key to the future, enabling the shift to what is effectively an ‘electrify everything’ approach.
BROKEN PROMISES, FRESH HOPES
Climate commitments have been dealt a blow in recent times. Political pressure and ‘woke capital’ attacks over the past two years have contributed to reductions of capital allocated to sustainable investing and nowhere is this more disappointing than amongst the financial-services industry which has pulled back from commitments made only a couple of years ago. Oil and gas companies have been pulling back on their commitments to invest in alternative energy while maintaining or increasing their fossil investments, deepening a credibility gap between their rhetoric about net zero and their actions.
Against this negative backdrop, there remains plenty of hope because it is possible that we are on the precipice of a different momentous change. Renewable electricity is growing rapidly now, so much so that emissions from power production are falling sharply in some countries. Moreover, electricity demand is starting to grow in many developed economies where it had been stagnant for a decade. This is mostly good news, for it means that the exhortation to ‘electrify everything’ is working. Focus then shifts to the significant grid upgrades required to harness the wave of low-cost solar and wind, the answer of which lies in urgent improvements to planning and reductions in red tape. To achieve this, a step change is required from one specific set of actors: governments. They hold the keys to make the policy changes to unleash the expansion of electrification, at least in the major economies of China, the US, the EU, Latin America and India.
IS THE GEOPOLITICS OF CLIMATE TRANSITION BROKEN?
Important, large-scale change requires the determination and courage of groups of people to make things happen. But geopolitics also poses a significant threat to any kind of progress in the transition. China was the biggest investor in clean energy in 2024, is the largest producer of solar panels, electric cars, electric buses, and the most important manufacturer of advanced batteries. But China’s return to an aggressive form of authoritarianism under Xi Jinping has put it at loggerheads with many of its trading partners. China’s military adventurism, its threats to invade Taiwan, its theft of technology from other countries, its repression of the Uyghur ethnic group and many other factors are leading to something like a Cold War between China and the West – which could lead to the energy transition getting caught up in the crossfire.
Elsewhere in the world, observers will be closely watching the results of this year’s US election. The Inflation Reduction Act has created a positive framework for change but the wider signals in the US do not paint a wholly positive picture. The prospect of new tariffs, trade barriers, protectionism or tearing up international treaties altogether threatens to cast a large shadow over the world economy and its efforts to deliver on decarbonisation in this critical decade.
Accelerating trends outlined in the report include:
Power
Renewable electricity is now growing rapidly, with solar energy being the breakout star, with the installation of new panels up 74 percent in a single year. But power demand is starting to grow rapidly too: new data centres are gulping down electricity, and more cars and heat pumps are drawing power from the grid. It remains unclear when we will turn the corner and see electricity emissions finally begin to fall.Transport
The transition to electric cars is hitting speed bumps in some markets, notably the United States, with carmakers like Ford scaling back their transition plans. But other countries are moving forward, especially China, where electric cars are now the economical choice and are taking half the new-car market. We have yet to see much progress in cutting emissions from planes, ships or lorries/trucks.Buildings
The buildings sector is not remotely on track for the emissions cuts needed to meet global climate goals. The slow progress from tougher building codes in some countries is being swamped by breakneck urbanisation and weak or non-existent building codes in many countries. Heat pumps are a bright spot, their popularity rising in some parts of the world.Industry
Progress is still halting in the industrial sector, but we are beginning to see movement. Plans were announced for new low-emissions steel plants using clean hydrogen, with the number of such factories on the drawing board rising from two to six. Green hydrogen is critical to the emissions-cutting plans of some other industries, and electrolyser additions in 2023 were more than quadruple 2022 additions. The world also needs to get control of plastic pollution – industry is responsible for the 34% of excess carbon dioxide entering the atmosphere, and plastic accounts for three percentage points of this.People, land & food
The climate crisis seems to be contributing to high food prices that have driven the number of hungry people in the world up by 150 million in this decade. Global hunger worsened during the pandemic in 2020 and the problem has not abated. Far more work needs to be done by governments to secure the food supply in an overheating climate and to encourage the spread of better farming practices. The destruction of tropical forests has abated somewhat under a new government in Brazil, and Indonesia has had dramatic success in cutting deforestation through the actions of the central government, but the topic remains an urgent global problem.Financing the transition
We have finally reached the point where nearly $2 is being spent on clean energy infrastructure for every $1 spent on fossil fuels, a ratio that was closer to 1-to-1 only five years ago. But clean investment needs to accelerate rapidly, to $4 trillion or $5 trillion a year by 2030, to meet the world’s climate goals. Big banks are still shovelling tens of billions into the development of new fossil fuels, despite their pledges to align their lending with the climate transition.Looking ahead
A fundamental tension has developed in the energy transition: governments want to use it as a core element of their industrial policy, to create new jobs in domestic factories, even as they try to move rapidly to clean energy. The two goals are in conflict, given China’s nearly insurmountable head start in solar panels, electric cars, batteries and other green technologies. How this tension gets resolved will determine how fast the energy transition can proceed.About Generation Investment Management
Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a US presence in San Francisco, with more than $44 billion of assets under management and supervision.1 For further information, please visit https://www.generationim.com/
1 Assets under management as at 30 June 2024 are $33.8 billion. Assets under supervision (AUS) are $10.5 billion as at 31 March 2024. AUS form part of our Private Equity strategy and include assets where Generation sourced, structured and/or negotiated the investment and in relation to which it provides certain ongoing advisory services for a fee.
Media ContactRichard CampbellKekst [email protected]+44 (0) 7775 784 933
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To help Posti enhance customer experience and operational efficiency with an AI-first strategy leveraging Infosys Topaz
BENGALURU, India, Sept. 19, 2024 /PRNewswire/ — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced it is extending its strategic collaboration with Posti, the leading delivery and logistics services provider in Finland, Sweden, and the Baltics. As part of the engagement, Infosys will help Posti enhance customer experience and operational efficiency while continuing to innovate, scale, and grow its IT operations.
Infosys will adopt an AI-driven approach powered by Infosys Topaz, an AI-first offering using generative AI technologies, to empower Posti with operational efficiencies and service quality. Additionally, Infosys Cobalt will leverage its Live Enterprise Application Management Platform (LEAP), a cloud-enabled platform, to provide NextGen Application Management Services for enterprises to accelerate their cloud journey to help drive business productivity.
In the last five years through the collaboration, Infosys has helped Posti improve the resilience of IT systems, reduce outages and disruptions, and improve Posti’s ability to prevent and respond to cyber threats. Infosys has helped Posti modernize the front-end consumer-facing applications and replace legacy systems and processes.
Petteri Naulapää, CIO & SVP, ICT and Digitalization, Posti Group, said, “We are pleased to announce the renewal of our collaboration with Infosys for another seven years. By harnessing the power of AI through Infosys Topaz and cloud capabilities through Infosys Cobalt, we aim to create a more efficient and customer centric organization. The collaboration with Infosys will accelerate our digital transformation journey and help us deliver exceptional services, optimize our operations, and strengthen our position as a leading delivery and logistics provider.”
Karmesh Vaswani, EVP and Global Head Retail, Consumer Goods & Logistics, Infosys, said, “Building on our growing presence in the Nordics and proven expertise in AI-powered transformation, Infosys is thrilled to announce the renewal of our strategic collaboration with Posti. This extension demonstrates our unwavering commitment to delivering next-generation services and solutions specifically tailored to address the unique challenges faced by our clients in the Nordics. By leveraging cutting-edge Gen AI alongside our comprehensive digital suite, we aim to propel Posti’s competitiveness even further within Finland, Sweden, and the Baltics. This next phase of our work will empower Posti to not only become a leader in the logistics and e-commerce sector, but a true digital frontrunner in the Nordics.”
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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Artificial Intelligence
Greater Than customer Fuse Fleet becomes first Australian insurer to offer fleet ESG reporting solution
In an Australian first, Fuse Fleet app now enables fleet managers to seamlessly track and report their environmental and social metricsFuse Fleet partners with data analytics provider Greater Than to access AI-generated driver risk and emissions insightsNew insurance solution helps fleets stay ahead of Australia’s upcoming ESG reporting regulations STOCKHOLM, Sept. 19, 2024 /PRNewswire/ — Fuse Fleet, one of Australia’s only providers of connected insurance combined with claims management solutions, has expanded its use of Greater Than’s AI technology to launch the country’s first insurance-driven ESG reporting tool for fleets. This innovation allows companies to seamlessly track and report their environmental and social impacts.
Fuse Fleet was launched by DKG Insurance Group in April 2023 as a result of a partnership with Greater Than, with the aim of providing a behavior-based insurance solution that rewards safe driving and support lower premiums. The partnership has now expanded to include sustainability and ESG reporting, reflecting the evolving needs of fleet operators.
“Demand for ESG transparency, action and reporting is in higher demand than ever and it’s critical for fleets to access reliable driver safety and sustainability data,” said Simon Donovan, Executive General Manager, Commercial, at Fuse Fleet. “We’re proud to be the first in the Australian insurance industry to deliver a seamless ESG solution for fleets, making it easier to track and report on ESG impact from a mobility perspective.”
Recognizing that not all fleets have telematics solutions, Fuse Fleet offers a free app that enables its customers to access driver safety insights for risk mitigation and accurate insurance pricing. Now, it has added climate impact insights to the app to support fleets with their sustainability efforts and ESG reporting.
“Fuse Fleet is based on data analytics and technological innovation so it’s no surprise to see them become pioneers within the Australian insurance industry in terms of ESG reporting,” said Johan Forseke, Head of APAC at Greater Than. “With this new solution, Fuse Fleet takes a leading role in helping companies across the country to lower their carbon footprint and improve driver safety, all while accessing better insurance pricing.”
Reporting is expected to be mandatory from January 2025 in Australia, making it a requirement for companies to submit sustainability reports that include information about their climate impact as well as disclosures of their Scope 1, 2 and 3 emissions.
Leading data analytics company Greater Than generates the data insights for Fuse Fleet by using a globally unique AI that calculates drivers risk level and climate impact using only GPS driving data.
Press contact, Greater [email protected]+46 855 593 200www.greaterthan.eu
Press contact, Fuse Fleet [email protected] +61 423 343 662 www.fusefleet.com.au
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Greater Than and Fuse Fleet ESG reporting solution press release
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Fuse Fleet and Greater Than offer fleet ESG reporting solution
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Artificial Intelligence
Leopard Imaging to Launch RGB-IR High-Resolution Stereo Camera Eagle1 LI-VB1940-GM2C-137H, Powered by NVIDIA Jetson Orin, at Vision Stuttgart 2024
FREMONT, Calif., Sept. 19, 2024 /PRNewswire/ — Leopard Imaging Inc. (Leopard Imaging), a global leader in intelligent vision solutions, will launch its next-generation stereo camera, Eagle1, powered by the NVIDIA Jetson Orin platform for edge AI and robotics, at Vision Stuttgart 2024.
The Eagle1 state-of-the-art stereo camera is the latest addition to Leopard Imaging’s portfolio of advanced camera solutions, marking a significant advancement in stereoscopic imaging technology. This streamlined camera is designed to meet the growing demand for high performance, high resolution and highly reliable short- to long-range day/night imaging for the computer vision mass market.
The Eagle 1 is an RGB-IR active stereo camera, meticulously designed to provide robust performance in both day and night conditions. It is powered by NVIDIA Jetson Orin, which delivers high processing power and advanced AI capabilities ideal for a variety of applications including robotics and industrial automation.
At the core of the Eagle1 camera are two 5.1-megapixel BSI global shutter RGB-IR image sensors with 60 fps at full resolution. One of the standout features of the Eagle1 camera is its ability to output RAW RGB and R data simultaneously. This capability is crucial for applications that require the capture of detailed and uncompressed image data in all lighting conditions, allowing for more sophisticated image processing and analysis. The camera’s design includes a Maxim GMSL2 serializer, which facilitates high-speed data transmission over long distances, ensuring the integrity of the data even in demanding environments.
Additionally, the Eagle1 camera is equipped with an IR illuminator and IR dot projector. These components enhance the camera’s ability to capture clear images in low-light or no-light conditions, making it an invaluable tool for night-time operations or environments with poor lighting with high depth accuracy. The IR illuminator provides a consistent light source, while the dot projector improves depth perception, crucial for precision depth imaging.
Founded in 2008, Leopard Imaging has supported thousands of well-known companies in advanced imaging solutions with its experienced engineering teams, high-quality manufacturing capabilities in the U.S. and offshore, and quality management certifications such as IATF16949 for automotive industry, and AS9100D for aerospace industry.
Leopard Imaging is showcasing a demo at Vision 2024, Hall 10, Booth 10B72 at Messe Stuttgart, Germany, Oct 8-10, 2024. The company is also partnering with Silicon Lion to showcase imaging solutions at Hall 8, Stand B31. To schedule a meeting, please contact [email protected].
About Leopard Imaging Inc.
Leopard Imaging is a global leader providing embedded cameras and AI-based imaging solutions—focusing on core technologies that improve image processing in automotive vehicles, aerospace vehicles, drones, IoT, and robotics. An Elite member of the NVIDIA Partner Network and a member of the AWS Partner Network, Leopard Imaging works closely with the most established sensor companies in producing advanced camera solutions for global customers with its original equipment manufacturer (OEM) and original design manufacturer (ODM) services.
Press ContactCathy [email protected]+1 408-263-0988
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