The durable carbon dioxide removal (CDR) market experienced its strongest quarter ever in Q2 2025, per the CDR.fyi report. Companies bought 15.48 million tonnes of durable carbon removal credits. This almost doubles the total volume contracted in all past quarters combined.
This quarter’s figure exceeded the Q1 2025 total of 13.6 million tonnes and marked a major turning point for the market. Let’s discover the top buyers, suppliers, and what CDR methods are most in demand.
Microsoft the Megabuyer: One Tech Giant, Five Massive Deals
Microsoft dominated the quarter, contracting 14.6 million tonnes across five mega‑deals. These purchases accounted for 93.8% of Q2 volumes. The largest single deal was for 6.75 million tonnes from AtmosClear, followed by around 3.7 million tonnes from CO₂ Limited.
Exomad Green (1.24 million tonnes of biochar), and
Hafslund Celsio.
Microsoft has bought nearly 25 million tonnes of durable CDR since late 2020. This accounts for about 79.5% of the total market volume, according to CDR.fyi.
Rising Stars: Non-Microsoft Buyers Step Up Their Game
Even excluding Microsoft, Q2 remained strong. Other buyers, not including the tech giant, purchased about 902,000 tonnes. This makes it the second-highest quarter for non-Microsoft purchases, just behind Q4 2024, according to CDR.fyi CSO Futures.
JPMorgan Chase accounted for 450,000 tonnes of BECCS and 50,000 tonnes of DACCS, representing about 63% of the non-Microsoft volume.
Other buyers were Wihlborgs (a Swedish real estate firm), City-owned Helsingborgshem, Frontier Buyers marketplace, Capgemini, Mitsui O.S.K Lines, SAP, and Wild Assets.
New players like Capgemini and Mitsui expanded the buyer base. They made purchases in various technical removal types and improved weathering.
Biochar Delivers, BECCS Leads: Tech Showdown in the Carbon Race
BECCS led technology choices in Q2, making up 86% of contracted volume. This included Microsoft and other buyers, according to CDR.fyi CSO Futures.
Biochar is a key player in biomass carbon removal solutions (BiCRS). It achieved strong delivery performance, making up 89.4% of the 116,800 tonnes delivered this quarter. Biomass direct storage and biomass geological sequestration added another 6.6% of deliveries.
BECCS is popular due to its high technology readiness levels (TRL 7–9), especially in Nordic countries where they have forest biomass feedstock. They also have strong energy markets and new CO₂ storage projects. For example, Norway’s Longship and Northern Lights facilities are part of this effort.
In terms of suppliers, biochar producers dominated the supplier leaderboard. Five of the top six suppliers are driving nearly 90% of contracted volume via large-scale BECCS or biochar projects.
Exomad Green held the top spot, delivering ~172,000 t and selling nearly 1.76 M t of biochar carbon removal (BCR) credits in total. Other leading firms included Aperam BioEnergia, Varaha, Wakefield Biochar, and Carboneers.
Together, they contribute significant delivery and contracted volumes via high-performing biochar methods. These recurring players show consistent performance and growing commercial traction in durable CDR.
While purchase volumes soared, investment funding cooled off. In Q2, just eight CDR companies raised $122 million, down from 24 companies and $137 million in Q1.
Direct air capture startups accounted for most fundraising. This slowdown reflects a maturing market where large corporate contracts play a bigger role than venture capital for project scaling.
The strong Q2 performance signals a turning point for durable CDR. It reflects both rapid growth in purchase activity and a narrowing gap between durable methods and nature-based removals.
A recent survey found that durable credits accounted for just 200,000 tonnes of retirements in 2024. In contrast, nature-based options reached 11 million tonnes.
Buyers want durable carbon dioxide removal volumes to equal or surpass nature-based credits by 2050. This will narrow the 6:1 ratio to parity by 2030.
Buyers want clear net-zero standards, solid business case validation, and lower costs to boost durable CDR demand. About 65% of companies surveyed said stronger net-zero frameworks, like those from SBTi, drive demand.
Many investors are cautious about unproven technologies and gaps in standards. However, the record Q2 shows that major buyers are eager to invest in removal methods. These methods align with their climate goals.
What Comes Next: Can Durable CDR Close the Gap with Nature-Based Offsets?
The global CDR market is now about $2 billion. Analysts expect it to grow to $50 billion by 2030. If favorable policies and buyer demand happen, it could surpass $250 billion by 2035. McKinsey and others estimate durable, engineered CDR could scale into a trillion-dollar sector by mid-century.
Yet, challenges still exist, including:
Fragile market liquidity
Different credit types that aren’t interchangeable
Price uncertainty (durable carbon credits average about $180 per tonne, while nature-based credits average $35)
Concerns about delivery risk and credit permanence
These issues affect the market’s stability. Survey data shows that buyers usually expect prices to be lower than what suppliers predict. This is especially true for non-biochar technical removals. Cost barriers are slowing down adoption.
Q2 2025 results marked a milestone: the durable carbon dioxide removal market grew faster than ever before. Microsoft’s anchor purchases and broader corporate engagement drove 15.5 million tonnes of contracted volume—more than doubling the market size in a single quarter. BECCS and biochar led in both scale and delivery.
Still, investment slowed, and adoption barriers persist. Companies cite the need for net-zero standards, cost declines, and clearer risk frameworks. But as large-scale contracts become more common, durable CDR is shifting from early promise to practical climate action.
Featured image sourced from Slovenské elektrárne’s official press release
Slovenské elektrárne, a.s., Slovakia’s largest electricity producer, signed a long-term contract with the Urenco Group on July 25, 2025. British Ambassador Nigel Baker witnessed the agreement. This contract secures enriched uranium for Slovakia’s nuclear plants in Bohunice and Mochovce until the mid-2030s. It helps Slovakia diversify its nuclear fuel sources and boost energy security.
By partnering with Urenco, Slovenské elektrárne gains a trusted enrichment provider. This deal also lowers risks from geopolitical tensions and supply issues.
Branislav Strýček, Chairman of the Board of Directors and CEO of Slovenské elektrárne
“We are pleased that thanks to the future cooperation with Urenco, we will be able to ensure the diversification of our business relationships. This will significantly help us to continue to maintain the stable and safe operation of our nuclear power plants.”
Slovenské elektrárne: Leading Slovakia’s Carbon-Free Future
Slovenské elektrárne is Slovakia’s leading energy company. It generates over 70% of the country’s electricity. After shutting down the last coal-fired power plant in early 2024, it now produces electricity with zero direct CO₂ emissions.
The company’s energy mix includes nuclear, hydroelectric, and solar power. Its sustainability efforts focus on:
Efficient resource use
Environmental management
Reliable and ethical supply chains
Continuous improvement and financial stability
Energy efficiency services help businesses and homes cut energy use and CO₂ emissions. Solutions like LED lighting and smart cooling systems allow clients to make real strides toward their climate goals.
Slovenské elektrárne is 66% owned by Slovak Power Holding B.V., which is part of the Czech group Energetický a průmyslový holding (EPH). The Slovak Republic owns the other 34%. This structure provides local oversight and leverages regional expertise.
Energy Independence with Nuclear Power
Nuclear power has been central to Slovakia’s energy system for over 50 years. Slovenské elektrárne produces over 87% of the country’s electricity from nuclear sources, making it one of Europe’s leaders in low-carbon energy.
The contract followed an international tender launched in early 2024. With global geopolitical uncertainties and rising pressure on nuclear fuel markets, securing a reliable uranium partner is more important than ever. This deal with Urenco helps ensure a stable and clean electricity supply for households and industries in Slovakia.
Nigel Baker, British Ambassador to Slovakia
“In today’s world, diversification of energy supplies is crucial for national security. The long-term contract between Urenko and Slovenské elektrárne helps Slovakia achieve this goal and provides a reliable alternative for the supply of enriched uranium for the operation of the Slovak nuclear industry in the coming years. I am very pleased with this close partnership, which also helps to strengthen ties between Slovakia and the United Kingdom.”
Modern, Safe, and Efficient Nuclear Fleet
Slovenské elektrárne operates five VVER 440 pressurized water reactors—two at Bohunice and three at Mochovce. These reactors provide nearly two-thirds of the country’s electricity.
They are built with strong safety features, including thick reinforced containment structures and large cooling water reserves. The completion of new units at Mochovce has increased capacity. In January 2023, Unit 3 was connected to the grid after final regulatory approval in August 2022.
Each unit produces up to 535 MW of electricity, meeting around 13% of Slovakia’s needs. One reactor prevents about 5 million tonnes of CO₂ emissions yearly—like removing two million cars from the road.
This also strengthens Slovenské elektrárne’s resilience against nuclear fuel supply disruptions and supports its path toward climate neutrality.
Urenco: A Global Player in the Nuclear Supply Chain
Urenco, based in London, has offered uranium enrichment services for over 50 years. The company plays a vital role in the global nuclear fuel supply chain. It supports low-carbon electricity production in Europe, North America, and beyond. With enrichment facilities in Germany, the Netherlands, the UK, and the US, Urenco guarantees a secure supply for its clients.
The company aims for net-zero carbon emissions by 2040 and emphasizes strong environmental governance. Regular assessments monitor its impact on air, water, and energy use. Oversight by the UK’s Office for Nuclear Regulation ensures high operational safety standards.
Uranium Enrichment Process
Source: URENCO
Why Uranium Enrichment Is a Strategic Priority?
Uranium enrichment is a key and expensive part of the nuclear fuel cycle. This cycle includes mining, conversion, enrichment, and fuel assembly. Only a few companies worldwide can manage this process. Nuclear power operators, like Slovenské elektrárne, need reliable and varied enrichment services.
According to data from the World Nuclear Association, global demand is projected to keep rising steadily through 2040, while supply remains constrained. This growing imbalance is expected to create a significant gap between the world’s uranium supply and the level of demand by that time.
Some experts say that this is a cause for concern, as current mining and processing levels may fall short of what’s needed to scale up nuclear power generation. Thus, significant investments are required to ramp up supply and meet the rising demand for nuclear fuel.
Slovenské elektrárne’s contract with Urenco Group comes at the right time when the uranium market is strained. It’s also a step toward a strong, climate-friendly energy future for Slovakia. By investing in secure nuclear fuel and focusing on sustainability, the company leads in Central and Eastern Europe.
Laurent Odeh, Chief Commercial Officer of Urenco Group
“At Urenco Group, we are very proud to be entering a new market with a new customer, and I would like to thank Slovenské elektrárne for their trust.”
As Europe moves away from fossil fuels, Slovenské elektrárne leads the way—driving innovation, providing clean power, and ensuring electricity for all in Slovakia.
The race to launch robotaxis is speeding up. Tesla, Saudi Arabia, and Chinese firms like WeRide are hitting big milestones. As countries and companies invest in autonomous mobility, robotaxis are fast becoming a central feature in the global shift toward safer, more efficient, and lower-emission transportation.
This article looks at new advances in the robotaxi industry. It also highlights Tesla’s robotaxi reveal and it discusses what this means for the future of transportation.
Tesla Begins Robotaxi Operations in Austin
Tesla began offering rides in its robotaxi fleet in June as part of an invitation-only pilot program in Austin. The initial fleet included roughly 10–20 Model Y vehicles, operating within a geofenced area in South Austin. Safety monitors rode along, though they lacked vehicle controls. Early rides were priced around $4.20 each.
Tesla intends to expand robotaxi service to San Francisco and other cities later in 2025. Starting in 2026, Tesla owners could also earn income by adding their vehicles to the robotaxi network.
Elon Musk confirmed a full production robotaxi vehicle—dubbed “Cybercab”—will roll out in 2026 and could cost under $30,000.
This driverless electric vehicle (EV) will be built on Tesla’s new platform. It aims for full autonomy and low-cost production. Unlike Tesla’s current vehicles, the robotaxi will have no steering wheel or pedals, marking a bold leap into full self-driving (FSD) territory.
The EV giant has been developing its FSD software for years. While current Autopilot and FSD Beta versions still require human oversight, the design of the robotaxi allows it to operate independently.
The vehicle will probably be part of a ride-hailing service. This service will use Tesla’s AI and neural network tech. It will work like Uber or Lyft, but there won’t be any human drivers.
Tesla’s early success triggered market optimism. Despite a drop in Q2 automotive revenue, the company’s stock rose on investor confidence in autonomous mobility.
WeRide Advances Driverless Tech in China and the Middle East
While Tesla gears up for its launch, Chinese autonomous driving pioneer WeRide is also making headlines. The company recently announced the launch of its fully driverless robotaxi service in Saudi Arabia, a first for the region.
The service is launching in NEOM. This is a futuristic megacity supported by the Saudi government. It is part of the kingdom’s Vision 20230 economic plan.
WeRide’s robotaxi service in Saudi Arabia uses electric vehicles. These cars have advanced sensors and AI systems. They can drive themselves in most situations, thanks to Level 4 autonomy—meaning the car can operate without a human driver in most conditions. This milestone is a big win for the Middle East. It shows that autonomous mobility is moving beyond classic areas like California and Shanghai.
The company also introduced a cost-cutting HPC platform. This platform makes robotaxi hardware more efficient and affordable. This innovation could cut deployment costs by up to 50%, says WeRide’s projections. This will help speed up commercialization in various markets.
In China, WeRide is expanding its driverless testing. They are focusing on Guangzhou and Shenzhen. Their fleet of electric robotaxis runs 24/7 in geofenced areas. The company’s dual focus on global expansion and hardware optimization positions it as a formidable player in the robotaxi space.
Saudi Arabia‘s deal with WeRide is a big step for self-driving cars in new markets. NEOM’s robotaxi service launch is part of a bigger goal. It aims to create smart cities that use clean energy and advanced technology.
Saudi authorities created a good environment for autonomous vehicles. They provide testing zones, support public-private partnerships, and enhance infrastructure. These policies aim to reduce traffic, lower emissions, and improve access to transportation.
The NEOM project envisions a car-free urban core, where shared electric vehicles—many of them autonomous—move people between hubs. Robotaxis are key to this vision. Companies like WeRide and others are racing for early-mover advantage in a new billion-dollar market.
Saudi Arabia’s efforts mirror a growing global trend: emerging economies are not just watching the AV revolution—they’re shaping it.
WeRide also launched Southeast Asia’s first fully driverless shuttle bus service at Resorts World Sentosa in Singapore. It operates without any safety operator onboard.
The Robobus travels a set 1.2 km loop. It is equipped with advanced multi-sensor systems, including LiDAR and cameras that provide 360-degree perception and can detect obstacles up to 200 meters away.
This driverless shuttle service is a big step for Singapore’s autonomous mobility plans. It also improves last-mile connectivity in RWS.
Robotaxis and the Climate Clock: Why Autonomy Fuels Net-Zero Goals
The robotaxi movement is more than a tech trend—it’s part of the broader transition to cleaner, more efficient urban transport. Traditional internal combustion engine (ICE) vehicles add a lot to city emissions. Urban transport makes up about 20% of global CO₂ emissions. Robotaxis, especially when electric, offer a cleaner alternative.
Analysts predict the global robotaxi market will grow from about $0.4 billion in 2023 to $45–46 billion by 2030. This means a compound annual growth rate of 73% to 92%.
Source: MarketsandMarkets
McKinsey estimates that autonomous ride-hailing services may hit $1.2 trillion in global market value by 2030. Their modeling using Los Angeles shows that robotaxis could result in this shift in urabn mobility:
Sorce: McKinsey & Company
Key drivers include falling hardware costs, improved AI, and stronger government support. In the U.S., China, and the EU, funding for smart mobility is growing, often tied to climate policy and energy transition goals.
Robotaxis could also improve road safety. According to the World Health Organization, over 90% of road accidents are caused by human error. Autonomous vehicles, if widely adopted, could significantly reduce fatalities and injuries. This is especially true in densely populated areas.
What’s Next for Tesla and the Robotaxi Market?
Tesla’s launch marks a crucial test—not only for the company, but for the robotaxi sector as a whole. Success could cement Tesla’s role as both an EV and autonomous tech leader. But challenges remain.
For one, regulatory approval is still a hurdle. In the U.S., states such as California and Arizona allow robotaxi testing to happen. However, full approval for driverless services everywhere is still years away. Tesla must also prove its vision-based FSD approach can meet or exceed safety expectations without LiDAR.
Meanwhile, rivals like WeRide, Waymo, Cruise, and Baidu are building out services with more conventional tech stacks that combine cameras, radar, and LiDAR. These systems are generally seen as safer in the short term, but potentially more expensive and less scalable.
In the short term, Tesla may launch its robotaxi first as a supervised service or in select geofenced zones. Over time, if software reliability and safety validation improve, broader rollout could follow.
Tesla’s robotaxi success may push other car makers to speed up their AV programs. It could also boost partnerships between tech firms and cities seeking low-emission transport options.
Robotaxis are no longer science fiction. Across the globe—from California to Saudi Arabia to China—driverless EVs are hitting the roads. Tesla’s launch and WeRide’s operational breakthroughs signal a major acceleration in the autonomous mobility race.
If robotaxis succeed at scale, they could reshape how cities move, how emissions are cut, and how transportation is accessed by millions.
Samsung Electronics Co. (005930.KS) has secured a major multiyear deal with Tesla Inc. (NASDAQ: TSLA) to manufacture advanced AI semiconductors at its upcoming facility in Taylor, Texas. The $16.5 billion agreement runs through 2033 and marks a crucial win for Samsung’s underperforming foundry business.
Elon Musk confirmed that the Texas fab will produce Tesla’s AI6 chip, a next-generation inference processor critical to powering autonomous vehicles and humanoid robots. Here’s a snapshot of his tweet:
Tesla Shifts from TSMC to Samsung to Diversify Supply Chain
Tesla’s decision to switch from longtime chip partner Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) to Samsung reflects a broader strategy to strengthen supply chain resilience. Tensions in Taiwan and global semiconductor shortages have prompted Tesla to explore alternative partners. Samsung’s progress in 2nm gate-all-around (GAA) chip fabrication, with yields now surpassing 40% makes it an appealing option.
This move also signals Tesla’s deeper commitment to vertical integration. By co-developing chip manufacturing processes with Samsung, Tesla is embedding itself in the heart of one of the world’s largest semiconductor ecosystems.
A Boost for Samsung’s Struggling Foundry Division
The contract comes as Samsung’s chip foundry business with the Texas fab had been facing delays. According to TrendForce, its share of the global foundry market slipped to 7.7% in Q1 2025, far behind TSMC’s 67.6%.
But the Tesla deal now provides a clear pathway to scale operations by 2026. Notably, Samsung shares surged 6.8% on Monday following the announcement, their highest level since September, as indicated by Bloomberg.
Source: Bloomberg
The partnership signals confidence in Samsung’s next-gen chip tech and could serve as a launchpad to secure more U.S. and global clients. Interestingly, Samsung’s role as a viable TSMC alternative also grows stronger.
New Chips, Faster Cars: Tesla’s Path to Full Autonomy
The AI6 chip, set for production at Samsung’s Texas facility, is the centerpiece of Tesla’s next-gen Full Self-Driving (FSD) platform. Elon Musk emphasized that the chip could deliver exaflop-level computing power, unlocking near-human-level decision-making for autonomous systems.
While production is still two years away, the AI6 chip plays a crucial role in Tesla’s roadmap to deploy fully driverless robotaxis and expand its AI offerings, including Optimus humanoid robots. Tesla expects these FSD-equipped vehicles could make up 30% of total sales by 2027.
Still, Musk acknowledged challenges ahead. Tesla’s current FSD offering requires driver supervision, and its early robotaxi trials in Austin have faced criticism for erratic behavior. He also noted the transition from AI4 (already made by Samsung) to AI5 (designed by TSMC) and then to AI6 could cause confusion and delays in retrofitting older vehicles.
Tesla and Samsung Eye the AI Chip Market’s Explosive Growth
A report says the AI chip industry size was valued at USD 52.92 billion in 2024 and is predicted to reach USD 295.56 billion by 2030, at a CAGR of 33.2% from 2025 to 2030.
Another analysis forecasted USD 927.76 billion by 2034, expanding at a CAGR of 28.90% from 2024 to 2034.
Source: Precedence Research
Tesla and Samsung’s alliance offers two key advantages in this fast-moving space:
Higher Efficiency and Performance: Tesla can develop more efficient FSD systems using Samsung’s advanced 2nm chips, reducing costs and improving AI capabilities.
Stronger Supply Chains: Samsung’s dual-hub strategy spanning Texas and its planned $228 billion mega-cluster in South Korea offers Tesla a reliable chip supply free from geopolitical threats.
Global Strategy Backed by U.S. and South Korea
Bloomberg revealed that this partnership aligns well with the U.S. effort to revitalize domestic semiconductor manufacturing. Supported by the CHIPS and Science Act, Samsung is set to receive up to $9 billion in U.S. funding and tax incentives for its operations in Texas. This aligns with broader efforts to reduce dependency on East Asia and strengthen American tech supply chains.
Simultaneously, the deal reinforces South Korea’s $450 billion K-Semiconductor Strategy, positioning the country as a powerhouse in AI chip innovation. By anchoring its foundry with Tesla’s contract, Samsung strengthens its role in global AI manufacturing.
All these factors combined could significantly strengthen both companies’ positions in the race toward scalable AI.
Investors Bet Big on TSLA STOCK
Tesla’s ability to commercialize its AI5 and AI6 chips will directly influence its valuation in the coming years. As its FSD system matures and becomes more widely adopted, TSLA can boost subscription revenue and capitalize on valuable driving data.
This shows that the Samsung deal is a big win for Tesla. Experts noted that it can give the company long-term access to custom AI chips that are key for its Full Self-Driving (FSD) system, robots, and data centers.
Market data showed, Tesla (TSLA Stock) shares have risen following the announcement of the major chip supply deal with Samsung. The latest available price for Tesla (TSLA) is $325.59, up about 3% from the previous close of $316.06.
Source: Yahoo Finance
This partnership also helps Tesla strengthen its supply chain and have better control over how its chips are made. And for investors, the deal is more than a headline. It’s a foundational shift in the semiconductor and AI chip tech that could redefine the self-driving and AI semiconductor race.
In January, President Donald Trump signed an executive order titled “Removing Barriers to American Leadership in Artificial Intelligence.” The goal was to maintain and expand America’s edge in AI technology to enhance national security, economic power, and human development.
Following up on that directive, the White House released “Winning the AI Race: America’s AI Action Plan” on July 23. The strategy aims to place the U.S. at the forefront of global AI development by fast-tracking infrastructure, encouraging innovation, and promoting international cooperation. Officials called it a transformative roadmap to power a new era of American technological dominance.
Key Highlights of America’s AI Action Plan
The plan outlines over 90 policy actions centered around three core areas:
Accelerating innovation
Building strong AI infrastructure
Leading global AI diplomacy and security
White House Science and Technology Policy Director Michael Kratsios said,
“America’s AI Action Plan charts a decisive course to cement U.S. dominance in artificial intelligence. President Trump has prioritized AI as a cornerstone of American innovation, powering a new age of American leadership in science, technology, and global influence. This plan galvanizes Federal efforts to turbocharge our innovation capacity, build cutting-edge infrastructure, and lead globally, ensuring that American workers and families thrive in the AI era. We are moving with urgency to make this vision a reality.”
Several major actions were outlined in the strategy:
Exporting AI Technology: The U.S. Commerce and State Departments will work with industry leaders to export complete AI solutions—including hardware, software, and standards—to trusted allies.
Faster Buildout of Data Centers: The government plans to speed up the permit process for building data centers and chip factories. It will also support workforce development in trades like electrical and HVAC services.
Regulatory Reform: The administration will eliminate or ease federal rules that slow AI progress. Businesses will be asked to share feedback on outdated regulations that should be scrapped.
Safeguarding Free Speech: New guidelines for government AI contracts will require that language models are free from political bias and allow open discourse.
Relaxed Environmental Rules Raise Red Flags
The plan includes fast-tracking environmental permits under the National Environmental Policy Act to ease the construction of large data centers. This also involves rolling back rules from the Clean Air Act and Clean Water Act. In return, data centers must promise to invest at least $500 million per site.
Federal agencies have also been asked to offer up government-owned land for building both data centers and their supporting energy infrastructure. These moves aim to speed up construction but have raised concerns about environmental oversight.
The Department of Energy announced four government sites where private companies will partner to build new AI data centers and power facilities. Energy Secretary Chris Wright called it “a bold step” and compared it to launching a new Manhattan Project.
AI needs a lot of electricity to power advanced servers, cooling systems, and data management. The International Energy Agency (IEA) warned that global electricity use from data centers could double by 2030, reaching more than Japan’s current energy demand.
By 2030, it could reach about 945 TWh, which is nearly 3% of total global demand.
From 2024 to 2030, data center electricity use is projected to grow 15% each year—four times faster than other sectors.
Notably, all data center types, enterprise, colocation, and hyperscale, contribute to this rise.
The U.S. AI Infrastructure Demands Massive Power
Talking about the U.S., a report revealed that data centers and AI platforms used 4% of the nation’s electricity in 2023. The electricity use has remained steady for 20 years, but the rise of AI will likely push total demand up by 9% by 2028 and 20% by 2033.
Much of this power may come from fossil fuels like coal and natural gas, which release greenhouse gases such as carbon dioxide and methane. This could worsen global warming and increase extreme weather events.
This surge in electricity use could lead to greenhouse gas emissions equal to 40% of the U.S.’s current annual emissions. This amount is the same as emissions coming from 540 million gasoline-powered cars.
Source: IEA
Chart: CO2 emissions from data centers for low, mid, and high cases, along with % emissions concerning the US power sector and total emissions in 2030.
Source: Frontiers
Additionally, AI data centers require large amounts of water for cooling, putting stress on water supplies in already dry regions.
Why is AI so energy-hungry?
GPUs used in AI are much more power-intensive than standard chips. Even a single ChatGPT query uses nearly 10 times the power of a Google search. Creating AI-generated images takes thousands of times more electricity than generating text.
In 2024, ChatGPT alone used over 500,000 kilowatt-hours of electricity daily, which is equal to the power used by 180,000 U.S. homes.
A single Meta data center consumes as much power as 7 million laptops running eight hours a day.
In Santa Clara, California, 50 data centers use 60% of the city’s electricity, often paying lower rates than residents.
Source: Frontiers
How Big Techs Are Responding to Trump’s AI Policy?
To keep up with rising energy demands, many tech companies are relying on existing power plants. In the U.S., most of these still use fossil fuels, especially natural gas. While some areas are adding renewables and battery storage, nuclear energy is gaining attention as a cleaner, steadier power source.
To begin with, Nvidia CEO Jensen Huang said,
“America’s unique advantage that no country could possibly have is President Trump.”
Meanwhile, OpenAI and Oracle announced progress on their massive “Stargate” project. The $500 billion effort aims to create a national AI infrastructure network. The companies revealed they are developing 4.5 gigawatts of new data center capacity, more than twice the power used in San Francisco. While specific energy sources weren’t mentioned, one site in Abilene, Texas, is already up and running. The rest of the project will be rolled out in phases over the next four years.
Moving on, big techs are turning to nuclear power to meet the massive energy demands of their data centers and ensure seamless, 24/7 carbon-free operation.
With demand from AI and cloud services growing fast, nuclear energy is becoming a key part of the tech industry’s strategy to ensure reliable, low-carbon power.
AI Is the New Arsenal—And America Must Win
Even though critics stress the need for updated energy policies and better efficiency standards, Trump stays undeterred. He is clean on his stance. America has to dominate the artificial intelligence space.
And Secretary of State and Acting National Security Advisor, Marco Rubio, also vouches for this vision. He noted,
“Winning the AI Race is non-negotiable. America must continue to be the dominant force in artificial intelligence to promote prosperity and protect our economic and national security. President Trump recognized this at the beginning of his administration and took decisive action by commissioning this AI Action Plan. These clear-cut policy goals set expectations for the Federal Government to ensure America sets the technological gold standard worldwide, and that the world continues to run on American technology.”
UN Secretary-General António Guterres has declared that the global energy transition has reached a point of no return. As clean energy investments pass $2 trillion in 2024, renewable energy is now more cost-competitive than fossil fuels. Guterres said we have entered the “clean energy age” and must act quickly to build on this progress.
With solar and wind becoming some of the cheapest sources of energy, countries and companies are shifting toward sustainable energy sources at a fast pace.
Source: UN
Are Renewables Really Cheaper Than Fossil Fuels?
Yes—and by a big margin in many regions.
According to a recent UN report, most new renewable energy projects in 2024 are cheaper than even the lowest-cost fossil fuel alternatives. Onshore wind power now averages just 3.4 cents per kilowatt-hour (kWh), while solar photovoltaic (PV) sits around 4.3 cents per kWh. That’s less than what coal or gas costs in most markets.
In Europe, offshore wind projects generated electricity at about $36 per megawatt-hour in 2023. In comparison, gas-fired electricity costs nearly double—around $71 per megawatt-hour. These price differences show how renewables have quickly become more cost-effective.
In fact, over 90% of new renewable energy projects in 2024 are more affordable than fossil fuel-based ones. This is because of better technology, efficient manufacturing, and stronger supply chains.
Source: Cipher
A BloombergNEF report predicts that the cost of clean power technologies—such as wind, solar, and battery storage—will drop by 2–11% in 2025, setting a new record. The report notes that new solar and wind farms are already cheaper than new coal and gas plants in almost every global market.
However, China’s overcapacity in clean tech manufacturing has led to a wave of protectionist tariffs from other countries to shield domestic markets from low-cost imports. While these trade barriers may temporarily slow cost declines, BNEF still expects the levelized cost of clean electricity to fall by 22–49% by 2035.
The Energy Transition Boosts Jobs and Economic Growth
Going green also means going big on jobs. The UN estimates that clean energy investments could create over 24 million new jobs by 2030. Every $1 million invested in renewable energy brings about three new jobs, mostly in building, installing, and maintaining clean energy systems.
By switching to renewables, countries also reduce their dependence on imported fossil fuels. This helps protect them from global energy price shocks and improves energy security. Guterres referred to renewable energy as “real energy sovereignty.”
Big companies are also stepping in, backing the energy transition and clean power to meet sustainability goals. With solar and wind attracting more than double the investment today compared to 10 years ago, the economic case for renewables is stronger than ever.
A Win for the Planet: How Renewables Help the Environment
Solar and wind power produce zero emissions when generating electricity. This helps replace polluting power sources like coal and oil. The result is that millions of tons of carbon dioxide (CO₂) are kept out of the atmosphere.
Fossil fuels also damage air and water quality. In contrast, clean energy solutions reduce pollution, making our environment healthier and more sustainable. Switching to renewables helps countries meet their climate targets, including those outlined in the Paris Agreement.
If the current pace continues, clean energy could power up to 80% of the world’s electricity by 2030, according to the UN.
Where Are Renewables Growing Fastest?
Asia, Europe, and parts of the Global South are leading the charge. In 2024, renewables made up 92.5% of all new electricity capacity added globally. Countries like Pakistan and Namibia have nearly doubled their energy capacity in just two years—mainly through solar.
Key factors behind this growth include:
A 35% drop in solar module prices
Battery storage costs are falling between 20% and 50%
Cheaper batteries make clean energy more reliable, storing extra power for use when the sun or wind isn’t available. This also supports electric vehicles and stable power grids.
IEA says, clean energy drew $800 billion more investment than fossil fuels in 2024—a sharp reversal from past trends.
Source: IEA
How Will the Market Evolve in the Next Five Years?
Experts expect renewable energy investment to keep growing at about 15% per year through 2029. That growth will be driven by policy support, cleaner technologies, and stronger investor interest. As costs keep falling, more businesses and governments will likely choose clean energy.
Green hydrogen, one of the emerging sectors, promises big changes. The cost to produce hydrogen is expected to drop by half in the next 10 years. This could help decarbonize sectors like shipping, heavy industry, and aviation that are hard to electrify using solar or wind alone.
Policy action is key to driving the clean energy shift. Governments can offer tax breaks, ease permits, and fast-track projects. Global partnerships can also spread clean tech to regions that need it most.
António Guterres made it clear: “The fossil fuel age is ending—whether anyone likes it or not.” Thus, with this energy transition, the opportunity is real. It’s about clean power, good jobs, and a safe climate for future generations.
Google has partnered with Energy Dome, an Italian startup, to test and deploy a new kind of long-duration energy storage system. The innovation centers on a CO₂-based battery designed to store renewable energy for up to 24 hours. This move helps Google reach its clean energy goals. It also provides a scalable way to tackle a major issue in decarbonizing power grids: storing solar and wind energy when the sun is down or the wind is calm.
The project will begin in Sardinia, Italy, where Energy Dome is based. Google will help fund and validate a commercial-scale CO₂ battery installation there. If successful, the system could support Google’s plans to run all its data centers and campuses on 24/7 carbon-free energy (CFE) by 2030.
The technology offers a cheap and efficient way to fill energy supply gaps. This is important as more grids use renewable power sources.
Maud Texier, Director of EMEA Energy at Google, remarked:
“Google is committed to powering our operations with clean energy, and Energy Dome’s technologically proven and scalable long-duration energy storage solution can help us unlock rapid progress.”
What Is a CO₂ Battery and How Does It Work?
Unlike lithium-ion batteries or pumped hydro storage, the CO₂ battery uses carbon dioxide in a closed loop to store and release energy. When there is excess electricity from solar or wind, the system compresses CO₂ gas and stores it in liquid form.
Later, when energy is needed, the liquid CO₂ is heated and expanded back into a gas, spinning a turbine to generate electricity.
The entire process is carbon-neutral since the CO₂ is never released into the atmosphere. It simply moves between gas and liquid states in a sealed system.
Energy Dome’s design allows users to store energy for 10 to 24 hours. That’s much longer than regular lithium-ion batteries, which last only four to six hours.
The CO₂ battery can be made with current industrial tools like steel tanks and compressors. This makes it quicker and cheaper to set up than other long-duration technologies. Energy Dome says its systems can be built for under half the cost of lithium-ion storage. They also offer similar or better efficiency, around 75%.
Source: Energy Dome
Why Google’s Future Runs on 24-Hour Clean Energy
Google is one of the world’s largest corporate buyers of renewable energy. However, as it advances toward its ambitious 24/7 carbon-free goal, it requires more than just solar and wind power—it needs the ability to store clean energy for extended periods and deliver it when needed. This is where long-duration energy storage becomes essential.
Traditional battery systems help balance short-term fluctuations in energy supply and demand. But they struggle with overnight or multi-day needs. Long-duration solutions like the CO₂ battery help smooth out these gaps, especially as fossil fuels are phased out and weather-dependent renewables take their place.
By supporting Energy Dome, Google is investing in a technology that could allow it to run data centers on clean energy around the clock. The tech giant’s data centers consume massive amounts of electricity—roughly 1.3 terawatt-hours annually in the U.S. alone. Without reliable clean energy storage, these facilities risk falling back on fossil power during grid shortages or renewables downtime.
The partnership aligns with Google’s wider climate strategy, which includes investing in emerging technologies, optimizing data center efficiency, and using advanced AI to predict and manage energy loads.
From Sardinia to the World: Climate Tech with Global Reach
If proven successful, the CO₂ battery could offer a scalable tool for decarbonizing power grids worldwide. According to the International Energy Agency (IEA), the world will need over 1500 gigawatts (GW) of energy storage by 2050 to meet climate goals.
Source: IEA
Today, only a fraction of that exists. Long-duration technologies could fill much of that gap.
Energy Dome’s battery could be especially useful in places with abundant solar and wind energy but limited storage options. Regions like Texas, California, and parts of Europe often curtail clean energy production due to a lack of storage. Deploying low-cost systems like this one could unlock more renewable use and reduce reliance on backup fossil fuels.
The technology also supports grid stability. As renewables grow, so do fluctuations in power supply. Long-duration storage can buffer these swings, keeping the grid balanced and reliable. That’s especially important as heatwaves and extreme weather strain power systems.
Beyond technical benefits, the partnership marks a milestone in clean tech investment. Google’s support brings credibility and funding to a new player in the energy storage space. It also signals growing interest from major tech firms in scaling novel climate solutions.
What’s Next for Google and Energy Dome?
The Sardinia project will be one of the first commercial deployments of a CO₂ battery anywhere in the world. Energy Dome has already completed a 2.5 MW demonstration unit and is now building its first utility-scale project.
The system will have 20 MW of power and 200 MWh of storage—enough to power tens of thousands of homes for 10 hours.
Once operational, Google and Energy Dome will study performance data, costs, and scalability. If successful, the technology could be used across other Google data centers globally.
Energy Dome also plans to expand into the U.S., where tax incentives could make new projects more attractive.
The companies have not disclosed the exact financial terms of the deal. But both parties say the goal is to make the technology bankable and ready for global markets. Other energy companies and utilities are watching closely, as many are also seeking cost-effective long-duration storage options.
Google’s collaboration with Energy Dome represents more than just a single project. It reflects a broader shift toward deeper integration of renewable energy, long-duration storage, and corporate climate responsibility.
As tech companies race to reduce emissions and support climate goals, scalable solutions like CO₂ batteries could play a major role. This partnership highlights a path forward: combining innovation with investment to solve tough problems like clean energy reliability.
If the Sardinia pilot works as expected, it could pave the way for rapid global deployment of carbon-neutral energy storage. It will help Google, and perhaps many others, stay online and emissions-free at the same time.
Pony.ai, a leader in Chinese autonomous driving, made headlines again. It has expanded its robotaxi services to run 24/7 in Guangzhou and Shenzhen. It also started 24/7 testing in Beijing. This makes it one of the first companies globally to provide real, continuous autonomous ride-hailing service.
This bold move shows technological confidence. It also raises a critical question: can autonomous mobility be sustainable, and where does Pony.ai stand on that front?
As the world focuses on clean transport and corporate responsibility, Pony.ai’s progress should be assessed alongside its environmental, social, and governance (ESG) practices. It must also show how ready it is to meet net-zero goals.
Robotaxi Rollout: Pony.ai’s AVs Hit the Streets Nonstop
Pony.ai’s latest rollout marks a significant step forward in commercial viability. Previously limited to operating between 8 AM and 11 PM, its services in Guangzhou and Shenzhen now run 24 hours a day. In Beijing, testing permits have also been extended to support full-day operations of its robotaxis.
These cities aren’t just pilot zones—they’re tier-one economic hubs with dense urban environments. Pony.ai’s self-driving systems have improved a lot. They can now run vehicles without human drivers on busy night streets.
These vehicles can “see” up to 650 meters in any direction, enabling safer night-time navigation. The company claims its system is up to 10 times safer than a human driver. This is based on more than 500,000 hours of driverless operation and 50 million kilometers driven worldwide.
Pony.ai plans to expand its fleet from ~300 vehicles to 1,000 robotaxis in 2025, and more than 10,000 vehicles by 2028. But with scale comes a new imperative: climate accountability.
Autonomous Cars and the Climate Question
Autonomous vehicles (AVs) are electric. They reduce tailpipe emissions. They can also be programmed for energy efficiency. But they aren’t automatically “green.”
The carbon footprint of AVs is tied to:
The source of electricity used for charging.
The energy intensity of sensors, computing, and manufacturing.
The sustainability of supply chains, especially for LiDAR and batteries.
In Pony.ai’s case, the company uses fleets provided by partners like Toyota, GAC, and BAIC, most of which are electric or hybrid-electric. That’s a strong start. However, when it comes to formal carbon tracking, net-zero targets, or emissions disclosures, the story is less complete.
Pony.ai has established a dedicated ESG governance system. Oversight begins at the board level through its Safety, Compliance, and Sustainability Committee, which supervises:
ESG risk management
Sustainability compliance across all departments
ESG implementation within subsidiaries
The committee helps cascade ESG responsibilities across the organization, showing that Pony.ai is building the internal framework needed for future sustainability initiatives.
Carbon Footprint and Operational Emissions
In its latest filing with the U.S. SEC (2024), Pony.ai says its operations create low direct emissions. This is because it doesn’t make vehicles and uses only a little fuel: diesel, gasoline, and electricity.
However, the company does not publish any Scope 1 or Scope 2 emissions data, nor does it commit to a net-zero timeline. Yet, some efforts to reduce environmental impact are in place, such as:
Diesel Emissions Reduction: In 2024, the company began using automotive urea solutions (DEF) to reduce nitrogen oxide emissions in its diesel vehicle fleet.
Energy Conservation: It promotes paperless offices, water-saving protocols, and electricity efficiency in workspaces.
Emergency Preparedness: They handle climate risks, like floods and typhoons, through remote work drills and disaster plans. This is crucial in areas prone to typhoons, such as southern China.
Still, without public carbon data, science-based targets, or renewable energy sourcing, Pony.ai currently lags behind the transparency standards of many global tech peers.
The Transparency Gap
While governance is in place, Pony.ai’s ESG reporting is still in its early stages. The company also does not yet participate in global ESG or carbon initiatives like TCFD (Task Force on Climate-Related Financial Disclosures), CDP (Carbon Disclosure Project), and the Science-Based Targets initiative (SBTi).
By comparison, several of its competitors—like Baidu Apollo and Waymo—have begun disclosing emissions and setting measurable sustainability goals, creating added pressure on Pony.ai to follow suit.
Opportunities for Climate Leadership
Despite these gaps, Pony.ai is well-positioned to lead on low-carbon mobility, thanks to three key factors:
1. Electrification at Scale
Most of Pony.ai’s robotaxi partners produce battery-electric vehicles (BEVs) or hybrids. As the fleet grows to 10,000+ vehicles, aligning with renewable energy sources for charging could reduce operational emissions dramatically.
2. Smart Routing and Energy Efficiency
Autonomous systems can be optimized to:
Avoid congestion and idle time
Drive at fuel-efficient speeds
Reduce total miles traveled per passenger
By using AI to optimize routes and energy use, Pony.ai can decrease its overall energy footprint per ride.
3. Supply Chain Sustainability
Partners like Luminar, a supplier of LiDAR sensors, already follow ISO 14001 environmental standards. By auditing and choosing suppliers with sustainability credentials, Pony.ai can improve its Scope 3 emissions profile over time.
Where Will Pony.ai Drive Next?
Pony.ai’s 24/7 robotaxi rollout proves that self-driving technology is no longer a science experiment—it’s an emerging reality. But in a world increasingly shaped by climate policy, energy transitions, and ESG investing, technical milestones must be matched by climate ambition.
To date, Pony.ai has established strong ESG governance and low-emission operations. Yet it has not yet disclosed carbon data, set net-zero goals, or joined climate leadership networks.
If Pony.ai wants to drive the future—not just of mobility, but of responsible innovation—it must take the next step: embed sustainability into the core of its mission.
Doing so will not only future-proof its business—it will help define what a truly intelligent transportation company should look like in a net-zero world.
Disseminated on behalf of West Red Lake Gold Mines Ltd.
West Red Lake Gold Mines Ltd. (TSXV: WRLG; OTCQB: WRLGF) is leading a fresh charge in one of Canada’s most storied gold-producing regions—the Red Lake district of Ontario. With its eyes set firmly on ramping up the newly restarted Madsen Mine, WRLG is not just reviving old infrastructure but strategically positioning itself to benefit from an evolving global gold market.
At a time when market conditions are tilting favorably toward gold, WRLG’s disciplined approach and revitalization plan put it in the spotlight. Let’s unpack five major narratives that reveal why this project could be a standout in today’s mining landscape.
Gold’s Moment in the Spotlight
Gold has always been a trusted store of value—but in 2025, its appeal is even more pronounced. With rising geopolitical tensions, stubborn inflation, and growing fears of recession, global demand for gold is on the rise.
Central banks across Asia and the Middle East continue to actively diversify away from the U.S. dollar by accumulating gold reserves. Meanwhile, Western investors—many of whom had been heavily weighted in tech stocks—are returning to the yellow metal.
Even with record-high gold prices, gold equities haven’t caught up. This disconnect suggests investment potential, especially for miners nearing production. Goldman Sachs and other analysts now forecast that gold could soar to $5,000 per ounce by 2028.
This backdrop puts companies like WRLG—poised to move from development to production—in a unique position to benefit from what could be a once-in-a-generation gold bull market.
Moreover, with concerns over long-term fiat currency devaluation and increasing systemic risk in global markets, gold is being viewed not just as a hedge, but as a core portfolio holding. For miners like WRLG that are ready to feed this growing demand, the upside potential is real.
While demand climbs, supply tells a different story. The gold mining sector is facing a crunch.
According to S&P Global, gold exploration budgets fell to a 10-year low in 2024, with fewer companies actively exploring. Consolidation and funding struggles among juniors have made new discoveries scarce.
Despite record prices, the sector is prioritizing capital discipline over expansion. That makes companies like WRLG—with new production timeline and the potential for growth —especially attractive.
Investors are increasingly shifting focus away from speculative exploration plays and toward advanced-stage assets with clear production timelines. WRLG’s Madsen project fits squarely into this sweet spot, offering potential for both upside from development gains and reduced risk through existing infrastructure.
With limited new supply entering the market, any miner moving into production stands to attract attention. WRLG is one of the few companies doing so during this bull run.
Smart Acquisition, Smarter Execution: WRLG’s Bold Bet on Madsen
When WRLG acquired the Madsen Mine in 2023, it wasn’t just a lucky break—it was a savvy move. The asset, despite being heavily invested in by its previous owner, was available at a discount due to operational missteps.
WRLG stepped in with a clear plan: invest the significant capital needed to define the deposit with greater accuracy, revamp the infrastructure, enhance access to ore zones, and restart operations with greater efficiency. One of the centerpiece projects is the underground Connection Drift, a tunnel designed to streamline haulage and improve operational flexibility.
Source: WRLG
A test mining and bulk sampling program confirmed the accuracy of the deposit model, the quality of ore, and the company’s ability to mine. Backing from major names like Sprott and Frank Giustra further signals strong investor confidence in WRLG’s approach.
Beyond the numbers, WRLG’s acquisition strategy also reflects a broader trend of disciplined M&A in the gold sector. Instead of overpaying for undeveloped land or risky exploration zones, WRLG focused on value—buying into a historically productive asset with existing permits, a developed mill, and a defined resource.
With production ramping up through the second half of 2025 and post-tax free cash flow projections of $400 million over seven years, WRLG isn’t just reviving an old mine—it’s laying the foundation for long-term value.
Fixing the Past: Why Madsen’s Restart Should Succeed This Time
This isn’t Madsen’s first restart attempt—but WRLG is determined to make it the last one needed. Previous failures stemmed from insufficient underground work, limited drill data, and poor planning.
WRLG tackled those weaknesses head-on. Drilling density has been increased to industry standards, boosting confidence in deposit modeling. Infrastructure upgrades, like the Connection Drift, allow simultaneous access to multiple ore zones—eliminating key bottlenecks.
Workforce training and safety protocols have also been prioritized. These aren’t just nice-to-haves—they’re essential for a reliable, high-performing operation. WRLG’s strategy incorporates best practices from across the mining sector to reduce risk and deliver consistent output.
By prioritizing data quality and mining precision, WRLG is laying the groundwork for long-term operational stability. Where past operators may have leaned on aggressive assumptions, WRLG is taking a conservative and transparent approach, which should appeal to both institutional investors and regulators.
With lessons learned, capital secured, and execution tightened, WRLG is on track to overcome the mine’s troubled past—and build a new legacy of success.
From the Ground Up: A Roadmap to Production by 2025
WRLG’s restart strategy is built on three pillars: technical upgrades, financial readiness, and operational preparation.
The company pushed for two years to complete definition drilling, infrastructure improvements, mill recommissioning work, and mine planning, and was able to restart the mine ahead of schedule.
The drilling campaign, in particular, is key to enhancing resource confidence, essential for effective mining. Meanwhile, ore was being stockpiled, and mill upgrades were completed, and WRLG hired over 200 employees. Safety, a top priority, is embedded in the restart plan through training and strict protocols.
According to the pre-feasibility study, WRLG expects to produce almost 70,000 ounces annually for seven years, creating a solid cash flow foundation.
This combination of strategic planning, technical rigor, and market timing could make WRLG a breakout player in the Red Lake district.
Final Take: WRLG Is Poised to Deliver Gold—and Growth
With a discounted asset, experienced leadership, and strong financial backing, West Red Lake Gold Mines Ltd. is executing a textbook turnaround. The Madsen Mine, once a symbol of unrealized potential, is now on the verge of becoming a productive, cash-generating operation.
As gold prices remain strong and investor sentiment continues shifting away from tech and toward tangible assets like precious metals, WRLG is well-positioned to benefit.
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New Era Publishing Inc. and/or CarbonCredits.com (“We” or “Us”) are not securities dealers or brokers, investment advisers or financial advisers, and you should not rely on the information herein as investment advice. West Red Lake Gold Mines Ltd. made a one-time payment of $30,000 to provide marketing services for a term of 1 month. None of the owners, members, directors, or employees of New Era Publishing Inc. and/or CarbonCredits.com currently hold, or have any beneficial ownership in, any shares, stocks, or options in the companies mentioned. This article is informational only and is solely for use by prospective investors in determining whether to seek additional information. This does not constitute an offer to sell or a solicitation of an offer to buy any securities. Examples that we provide of share price increases pertaining to a particular Issuer from one referenced date to another represent an arbitrarily chosen time period and are no indication whatsoever of future stock prices for that Issuer and are of no predictive value. Our stock profiles are intended to highlight certain companies for your further investigation; they are not stock recommendations or constitute an offer or sale of the referenced securities. The securities issued by the companies we profile should be considered high risk; if you do invest despite these warnings, you may lose your entire investment. Please do your own research before investing, including reading the companies’ SEDAR+ and SEC filings, press releases, and risk disclosures. It is our policy that information contained in this profile was provided by the company, extracted from SEDAR+ and SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it.
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate”, “expect”, “estimate”, “forecast”, “planned”, and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the plans and timing for the potential production of mining operations at the Madsen Mine, the potential (including the amount of tonnes and grades of material from the bulk sample program) of the Madsen Mine; the benefits of test mining; any untapped growth potential in the Madsen deposit or Rowan deposit; and the Company’s future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.
Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices; timing and results of the cleanup and recovery at the Madsen Mine; and changes in the Company’s business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis for the year ended December 31, 2024, and the Company’s annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
For more information on the Company, investors should review the Company’s continuous disclosure filings that are available on SEDAR+ at www.sedarplus.ca.
The Science Based Targets initiative (SBTi) has rolled out its first Financial Institutions Net-Zero Standard (FINZ). This framework offers banks, asset managers, insurers, and investors a clear path to aligning their portfolio activities—including lending, underwriting, and investments—with net‑zero emissions by 2050.
It aims to transform how the finance industry aligns with global climate goals and steers clean capital flows.
Why the New Standard Matters to Climate and Finance
Financial institutions are hugely influential. Their financed emissions—the greenhouse gases tied to the companies they finance—are typically hundreds to thousands of times higher than their own operational emissions.
They account for over 99% of financed emissions through loans, underwriting, and investments. One study found financed emissions can be 750 times greater, and for North American banks that rose to 11,000 times more than their own direct output.
Source: SBTi
Yet until now, most net‑zero frameworks focused on operational emissions (Scope 1 and 2). The FINZ Standard tackles Scope 3 category 15 emissions—those tied to clients and invested companies. It offers a sector‑specific roadmap for carbon impact across financial services.
Moreover, it strengthens transparency and accountability in financed emissions, including underwriting and capital markets. The UN-backed SBTi aims to drive major reductions. This tool targets not only corporate operations but also global capital markets.
Alberto Carrillo Pineda, SBTi’s Chief Technical Officer, noted:
“Financial Institutions have the ability to play a transformative role in the transition to net-zero. Their influence on the global economy and ability to engage with their portfolios is unparalleled to accelerate the net-zero transition. With its broad applicability and flexibility, this robust, science-based Standard will help financial institutions drive the net-zero transformation all over the world.”
Key Requirements: What FINZ Demands
Here are the major requirements set by the new standard:
Fossil Fuel Finance Phase‑out
Signatories must immediately stop financing new coal and oil field expansion. Financing for new oil and gas projects must also end by 2030. This shift separates general-purpose finance from investment that supports fossil fuel growth.
Portfolio Emissions Targets
Institutions need to measure and set science-based targets. These targets must cover all lending, investment, underwriting, and capital market operations (Scope 3 category 15+). They must align with a 1.5 °C pathway and match the ambition of SBTi’s corporate standard. Public targets and interim milestones are required.
Deforestation and Real Estate Risk Reporting
Banks and asset managers must assess exposure to deforestation and real estate. Those with significant risk must publish mitigation plans. This broadens climate accountability beyond just fossil fuel financing.
Source: SBTi
Stakeholder Response: Support and Criticism
Over 150 institutions contributed to public consultations, and 33 firms pilot‑tested the standard.
Over 150 financial institutions contributed to public consultations, and 33 firms pilot-tested the draft standard. Also, nearly 135 institutions across six continents have committed to align with FINZ already.
SBTi has validated the most near-term institution targets to date—a nearly 50% increase year-on-year. It also expects more growth under new CEO David Kennedy, with ambitions to scale to 20,000 companies by 2030.
Many praised the approach as both rigorous and practical. The Sustainable Finance Observatory welcomed the initiative’s wider focus. It includes loans, insurance, capital markets, and portfolio investment.
Yet critics highlight a major tension: the delay in phasing out fossil fuel finance until 2030. A recent report found that nearly 95% of bank fossil-fuel financing in 2024 went via general-purpose loans, not project-specific funding—potentially locking in more fossil fuel use this decade.
Some experts argue that progress toward net‑zero demands an immediate cutoff. SBTi believes that slower advocacy could allow more institutions to join in. This might lead to a bigger overall impact.
Major banks like HSBC and Standard Chartered left the SBTi climate approach. They had worries about the new standard’s strictness and how practical it is.
Meanwhile, ING is the first global bank to have validated SBTi targets. It has also promised to stop financing new fossil fuel projects by 2040. It will also cut coal power finance close to zero by 2025.
The FINZ Standard raises the bar for carbon credit demand. It is also likely to shape the future of the voluntary carbon credit market. Financial institutions are facing stricter rules on financed emissions. So, many will seek verified carbon removal solutions to hit their climate targets.
The SBTi usually doesn’t let carbon offsets replace real emissions cuts but it does see a small role for carbon removals. This is especially true for options like direct air capture or biochar that store carbon long-term.
This creates new demand for high-quality, science-based carbon credits, especially those tied to durable removal projects. Nature-based credits, like forest restoration, may increase in value. This is true if they meet strict verification and permanence standards.
Moreover, financial firms can help fund new carbon projects by investing in climate mitigation. This is especially important in emerging markets, where capital is often hard to find.
Overall, the new standard brings greater credibility to net-zero claims. This could lead to more serious investment in carbon markets. It may focus on removal and insetting instead of just short-term offsets. The standard might also lead buyers to choose credits certified by third-party groups. These should align with international standards like ICVCM and VCMI.
Looking Ahead: Adoption and Market Shifts
The FINZ Standard has been published in July 2025, with a global consultation now closed. It is expected to become mandatory for SBTi‑aligned institutions over the coming years. Here are major development to watch:
The Financial Institutions Near-Term Criteria (FINT) will stay valid until 2026. New institutions should adopt the FINZ standard now.
By early 2026, SBTi plans to fully roll out the standard under new CEO David Kennedy. As climate risk grows, it will impact financial stability.
FINZ might set regulatory standards and change how banks are monitored for climate-related issues.
Over time, institutions that meet FTIN 1.5 °C‑aligned targets and halt fossil fuel expansion financing will likely enjoy reputational gains and stronger ESG investor support. Conversely, those lagging could face legal, regulatory, and financial scrutiny.
SBTi’s Financial Institutions Net‑Zero Standard is a landmark tool for holding banks and investors accountable for financed emissions. Clear standards on fossil fuel finance, portfolio coverage, and disclosure help align financial flows with net‑zero pathways.
Some critics worry about the slow phase-out of fossil fuel financing. However, many view the new Financial Institutions Net-Zero Standard as a practical method that helps engage institutions and improve climate alignment sooner.
As more firms join, purchase high-quality carbon removals, and report robust financed-emissions targets, the standard could accelerate real emissions cuts. FINZ standard signals a change for those tracking ESG investments, carbon credits, and climate policy. It brings credible, science-based finance and acts as a new tool in the low-carbon market.
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