INVESTMENTS & PENSIONS
Our west coast US research trip kicked off with a day in Seattle , ahead of three days in San Francisco and Silicon Valley , before finishing up over 1700 km to the south in San Diego . With 25 company visits on the agenda the schedule was an intense one . A focus on finding ideas for our responsible and sustainability-orientated portfolios meant that technology and healthcare names comprised the bulk of the companies we met .
Within the technology space it ’ ll be of little surprise that artificial intelligence was a recurring theme . We met with giants in the space like Microsoft and Nvidia . These are both widely known and owned businesses but updates from both were – perhaps unsurprisingly – positive . Microsoft ’ s AI strategy looks set to underpin demand for their Azure cloud services and Nvidia were clear in delivering a convincing message that the firm looks set to remain at the epicentre of the world ’ s nascent AI journey . From these tech giants
down to the mid-smaller names we met on our trip , there was a tangible sense of ambition and to deliver profitable growth for shareholders , without harming the interests of wider stakeholders . One smaller company we visited was Impinj Inc ., a Seattle-based semiconductor company , which operates a platform that enables wireless connectivity to everyday items by delivering each item ’ s identity , location , and authenticity for business and consumer applications . They partner with global consumer brands , such as Decathlon and Uniqlo , who use Impinj ’ s technology both for rapid , self-serve checkouts , for real-time inventory tracking , and to prevent shoplifting . All vital realworld use cases for our more connected world . Whatever the size of the technology business we saw , we came away with a belief that the future is exciting and it will offer opportunities for those able to identify unmet needs and provide sustainable solutions to them .
Of course , from a sustainability perspective there are clear issues with AI that need addressing but many businesses seem cognisant of the challenges posed by the huge power demands of data centres for example . Indeed , a meeting at Salesforce ’ s San Francisco headquarters left us in no doubt as to the growing importance of sustainability considerations within many tech businesses . Despite not owning or operating datacentres themselves , Salesforce are fully aware of their energy and water footprint . For them , this means actively engaging with their suppliers around developing carbon neutral services and asking suppliers to set their own sciencebased targets around net-zero commitments . Another highlight was a meeting with Applied Materials – a leader in equipment , materials , and software for chip manufacture . The firm seems intentional in its approach with an encouraging roadmap planned out on environmental , social and governance ( ESG ) issues . Operations within the US are now 100 % powered by renewable energy sources and the company is committed to reaching this milestone globally by 2030 .
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