$500M Carbon Bet: Octopus Energy Backs Massive U.S. Forest Carbon Removal Projects

Jennifer L
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0
$500M Carbon Bet: Octopus Energy Backs Massive U.S. Forest Carbon Removal Projects

The global race to remove carbon dioxide from the atmosphere is entering a new phase. Octopus Energy Generation announced a big $500 million plan. They will fund reforestation and afforestation projects across the U.S. in partnership with climate tech company Living Carbon. The projects aim to restore degraded land while removing millions of tonnes of carbon dioxide from the atmosphere.

The deal is one of the largest disclosed institutional investments in nature-based carbon removal projects in recent years. It also shows that there is growing confidence in carbon removal markets, which might play a big role in global net-zero strategies.

Octopus Energy Generation’s fund management will invest $500 million in Living Carbon’s reforestation platform. On top of that, Octopus will invest nearly $13 million directly into Living Carbon’s business operations.

Zoisa North-Bond, CEO at Octopus, said:

“This is a landmark deal for us in the US and a huge step in our mission to invest in solutions that drive the planet toward a cleaner future.”

The companies say the funding could help remove up to 50 million tonnes of carbon dioxide over the next 40 years. The New York City Mayor’s Office of Climate & Environmental Justice says this is about the same as the city’s yearly greenhouse gas emissions.

Turning Abandoned Land Into Carbon Assets

The project aims to restore damaged land. This land would stay harmful to the environment or unproductive for the economy if not addressed.

Living Carbon specializes in rehabilitating former mining sites and degraded farmland across the United States. These areas are replanted with native trees, which help absorb carbon dioxide. They also boost biodiversity, improve soil quality, and enhance water systems.

The opportunity is enormous.

American Forests, a nonprofit conservation group, reports that the U.S. has about 130 million acres of degraded land. This land has potential for reforestation. That area is larger than the entire state of California. Many of these lands are located in former industrial and mining regions that have struggled economically for decades.

Reforestation projects not only create local jobs but also generate carbon credits. Each credit represents one tonne of removed or avoided carbon dioxide. Corporations buy these credits to offset emissions.

Living Carbon uses satellite imagery, climate models, and ecological analysis. This helps them find land with the best long-term carbon removal potential. Maddie Hall, Founder and CEO at Living Carbon, remarked:

“Our partnership with Octopus takes us from early-stage implementation to delivering long-term carbon removal at scale with institutional capital. This is a sign that this market is maturing into real project finance as corporate commitments to net-zero increase.”

Living Carbon reforestation
Source: Living Carbon

Notably, the company is building projects near growing data center areas. Energy demand and emissions are rising quickly in these places because of the growth in artificial intelligence infrastructure.

Carbon Removal Markets Hit Wall Street Scale

The Octopus-Living Carbon partnership arrives as demand for carbon removal continues to grow globally.

Companies feel more pressure to achieve net-zero goals. They also need to cut emissions that are hard to eliminate directly. As a result, many corporations are turning to carbon removal projects to help offset residual emissions.

According to carbon market intelligence firm Sylvera, companies committed nearly $14 billion toward future carbon removal purchases in 2025 alone. 

annual offtake agreements sylvera
Source: Sylvera

At the same time, the number of companies with validated net-zero targets rose 61% globally last year, according to the Science Based Targets initiative (SBTi). Large technology companies are among the biggest buyers.

Living Carbon has also signed carbon offtake agreements with big firms like Microsoft, Google, Meta, and McKinsey & Company. The Symbiosis Coalition, featuring Google and Meta, has contracted over 131,000 tonnes of carbon removal from the company for the next decade. This reflects a broader trend across the technology sector.

Artificial intelligence systems and data centers are sharply increasing electricity demand worldwide. As emissions increase with digital growth, many tech companies are investing in carbon removal. This helps them balance future emissions.

Nature-Based Removal Solutions Gain Investor Support

The market for nature-based carbon removal is growing fast. Debates about carbon credit quality and verification standards are still ongoing.

Nature-based solutions include reforestation, afforestation, wetland restoration, grassland recovery, and soil carbon management. These approaches remove carbon dioxide naturally through ecosystems rather than through engineered industrial systems.

McKinsey & Company predicts that the global voluntary carbon market could hit $50 billion to $250 billion each year by 2050. This depends on climate policies and how much companies get involved. BloombergNEF and Ecosystem Marketplace both predict strong long-term growth in carbon credit demand.

global carbon credit market size 2030

However, the sector has also faced criticism over transparency and carbon accounting quality. Recent studies have raised doubts about whether some forest carbon credits truly deliver the claimed climate benefits.

That scrutiny is pushing investors toward projects with stronger scientific verification and long-term monitoring systems. This is where Living Carbon’s focus on “high-quality” carbon removal becomes crucial. Their projects aim for measurable environmental benefits and long-term land restoration.

Analysts believe that big financing deals, like the Octopus deal, can help the sector grow. This shift could take it from early-stage testing to developing mature infrastructure projects.

Octopus Energy Expands Beyond Wind and Solar

The investment also highlights how clean energy companies are expanding beyond traditional wind and solar infrastructure.

Octopus Energy has rapidly become one of Europe’s largest renewable energy investors. It is the UK’s largest supplier of domestic electricity and gas. The company manages around 4.9 gigawatts of renewable energy assets in 21 countries. This includes wind and solar farms worth about £7 billion ($9 billion).

According to the company, those assets generate enough electricity to power around 3.2 million homes annually. Now Octopus is increasingly investing in broader climate technologies.

This year, the company said it plans to invest up to $2 billion in U.S. clean energy and climate tech by 2030. It will mainly focus on California’s clean-tech sector. That strategy includes carbon removal, heat batteries, energy storage, and nature restoration projects.

The company has boosted its investment in Cultivo, which offers nature-based solutions, too. This supports grassland restoration projects across the United States.

Carbon Removal Is Becoming a Core Net-Zero Tool

Global climate models suggest that just reducing emissions might not be enough to reach long-term climate goals. The Intergovernmental Panel on Climate Change says the world needs to remove carbon dioxide. This is important to keep global warming below 1.5°C or 2°C. Rapid cuts in emissions are also necessary.

The International Energy Agency says it is crucial to greatly increase global carbon removal by 2050. This is critical for reaching net-zero goals. Thus, corporate buyers are locking in long-term supply agreements now before future carbon credit shortages hit.

Similarly, analysis by McKinsey shows that the world needs between $6 trillion and $16 trillion of investment in carbon removals by 2050 to hit net zero.

carbon removal investment requirement for net zero by 2050

The surge in carbon removal purchases is helping transform the market from a niche climate strategy into a rapidly growing investment category. And the Octopus-Living Carbon partnership reflects that shift.

Instead of treating carbon removal as a small offset activity, institutional investors are beginning to finance it at an infrastructure scale. That could reshape how companies approach climate mitigation over the next decade.

For now, the deal also highlights a broader reality: restoring forests and degraded ecosystems is no longer viewed only as conservation work. It is increasingly becoming part of the global clean energy and net-zero economy.

The Top 4 Clean Energy Stocks Dominating 2026 as AI Supercharges Power Demand

Jennifer L
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The Top 4 Clean Energy Stocks Dominating 2026 as AI Supercharges Power Demand

The clean energy sector is entering a new phase in 2026. This time, the growth story is not driven only by climate goals or government policy. Artificial intelligence is now reshaping the global electricity market.

AI data centers are consuming huge amounts of power. According to the International Energy Agency (IEA), global electricity demand from data centers could more than double by 2030. In the United States alone, data centers may account for nearly half of electricity demand growth through the end of the decade.

That surge is creating new opportunities for energy companies that can deliver reliable, scalable, and lower-carbon electricity.

At the same time, governments continue to push for decarbonization. BloombergNEF estimates that global energy transition investment hit a record $2.3 trillion in 2025, up 8% from 2024. This includes spending on renewable energy, electrified transport, hydrogen, batteries, and power grids. Bloomberg Energy Transition Investment Trends 2025

Solar and battery storage are growing quickly. Also, grid modernization is becoming more important as global electricity demand increases.

As a result, investors are paying closer attention to companies that sit at the center of both the energy transition and the AI infrastructure boom. Here are the top four clean energy stocks that stand out in 2026 because of their scale, technology, and long-term growth potential.

Bloom Energy (BE): Fuel Cells Powering the AI Computing Boom

BE has become one of the biggest clean energy stories of 2026. The company makes solid oxide fuel cells. These cells produce electricity and have lower emissions than traditional combustion systems.

Bloom’s technology is gaining attention because AI data centers need fast and reliable power. In many regions, utility grid connections can take years to complete. Bloom’s onsite power systems can often deploy much faster, making them attractive for hyperscale computing facilities.

The company’s growth accelerated sharply this year. Bloom Energy reported first-quarter 2026 revenue of $751 million, up 130% from a year earlier. Adjusted earnings per share surged to $0.44 from just $0.03 in the prior-year period.

Bloom also raised its full-year 2026 revenue guidance to between $3.4 billion and $3.8 billion. That represented a major increase from previous expectations.

One major catalyst is the company’s expanding partnership with Oracle. Bloom is helping support large AI data center developments, including projects tied to Oracle Cloud Infrastructure.

Oracle recently expanded its agreement with Bloom to as much as 2.8 gigawatts of fuel-cell capacity for AI facilities. That is one of the largest fuel-cell deployments announced for data center infrastructure.

Bloom’s systems are also gaining traction because they can operate independently from strained electric grids. The company says its fuel-cell platforms can provide continuous power with high reliability while using natural gas, biogas, or hydrogen blends.

Hydrogen remains another long-term growth area. Bloom has continued investing in solid oxide electrolyzers, which can produce hydrogen more efficiently than conventional electrolysis technologies. The U.S. Department of Energy previously selected Bloom projects for hydrogen-related funding support through federal clean energy programs.

Meanwhile, Bloom’s stock performance has reflected investor optimism around AI electricity demand. Shares have risen more than 1,000% over the past year as markets increasingly view the company as a key provider of AI-era power infrastructure.

Bloom Energy BE stock price

NextEra Energy (NEE): America’s Renewable Power Giant Scaling for AI Demand

NEE remains one of the largest renewable energy companies in the world and a dominant force in the U.S. electricity market. The company operates Florida Power & Light, one of America’s largest utilities, while also developing massive solar, wind, and battery storage projects through NextEra Energy Resources.

Scale is one of NextEra Energy’s biggest advantages. The company currently has a renewable and energy storage project backlog of roughly 33 gigawatts. It added another 4 GW of new projects during the first quarter of 2026 alone.

NextEra is also benefiting from rising AI electricity demand. The company recently announced that its data center power pipeline hit 21 GW. More than half of this is already in advanced development phases, set for completion by 2028.

The company is exploring big projects in Pennsylvania and Texas. These could add nearly 10 GW of new power for data center customers and industrial users. Those projects may include solar, battery storage, natural gas, and transmission infrastructure.

Nextera Energy portfolio

Battery storage is another major focus. NextEra has become one of the largest battery storage developers in North America. Energy storage is vital. It stabilizes grids with lots of renewables. It also meets the constant electricity needs of AI facilities.

Financially, the company remains strong. Florida Power & Light generated net income of $1.46 billion during the first quarter of 2026, up more than 11% year over year.

NextEra also continues expanding its renewable footprint across the United States. The company runs tens of gigawatts of wind and solar assets. This makes it one of the largest producers of renewable electricity globally.

NEE’s stock price recently surged. This rise stems from a strong Q1 2026 earnings beat. Adjusted earnings hit $1.09 per share, beating analyst estimates of $0.97.

NextEra Energy NEE stock price

Analysts have raised their price targets, now as high as $112. This, along with a good outlook for lower interest rates, has boosted investor confidence in the company’s long-term growth.

Unlike many pure-play clean energy firms, NextEra offers a combination of growth and stability. That balance continues attracting long-term investors seeking exposure to both renewable energy expansion and rising electricity demand.

GE Vernova (GEV): The Grid Backbone of the AI Energy Revolution

GEV is rapidly emerging as one of the most important infrastructure companies in the energy transition. The company spun off from General Electric in 2024. It works in key areas like grid systems, gas turbines, wind turbines, electrification equipment, and power software.

As electricity demand rises, utilities and data center operators need more transformers, transmission systems, turbines, and grid technologies. That trend has sharply increased demand for GE Vernova’s products.

The company’s stock has climbed more than 200% over the past year.

GE vernova GEV stock price

GE Vernova recently raised its 2026 guidance after reporting stronger demand tied partly to AI infrastructure expansion. Analysts observed that the company has secured over 90% of its gas turbine production capacity until 2030.

Gas turbines are vital for many utilities. They provide dispatchable power, which supports renewable-heavy electricity systems and large data centers. GE Vernova’s high-efficiency HA gas turbines are among the most widely used advanced turbines globally.

At the same time, the company continues investing heavily in renewable technologies. GE Vernova’s wind division remains one of the largest turbine manufacturers in the world. The company is expanding grid modernization technologies. These tools help utilities manage complex electricity systems.

A key initiative is the company’s Grid Solutions business. It provides transformers, substations, and high-voltage transmission systems. Grid investment is growing fast. Many countries need to update their old infrastructure and connect more renewable energy projects.

According to the IEA, global grid investment must rise above $600 billion annually by 2030 to meet climate and electrification goals. That trend could provide long-term demand for GE Vernova’s equipment and services.

Analysts say GE Vernova’s total backlog might reach $200 billion by 2027. This growth comes from rising utility and AI-related infrastructure projects.

First Solar (FSLR): America’s Solar Manufacturing Powerhouse Rides Policy Tailwinds

FSLR continues to stand out as one of the leading solar manufacturers in the United States. The company focuses on thin-film solar modules. It has gained significantly from incentives tied to the Inflation Reduction Act. These policies back U.S. clean energy manufacturing. They also aim to cut reliance on imported solar equipment.

First Solar’s domestic production footprint gives it a major advantage in the current policy environment.

The company has expanded its manufacturing across the U.S. It now has major facilities in Ohio, Alabama, and Louisiana. Its new Alabama plant added 3.5 GW of annual capacity, while its upcoming Louisiana facility is expected to add another 3.5 GW. Together, those projects could push the company’s U.S. manufacturing capacity above 14 GW by 2026.

FSLR is also increasing international production capacity in India to support growing global demand.

First Solar value chain
Source: First Solar

First Solar expects its global nameplate manufacturing capacity to exceed 25 GW by 2026. That makes it one of the largest non-Chinese solar manufacturers in the world.

The company also entered 2026 with a contracted backlog of more than 70 GW of solar module orders extending into future years. That big backlog gives clear revenue insights. This sets it apart from many rivals in the unpredictable solar sector.

Financially, First Solar maintains one of the strongest balance sheets in the industry, with relatively low debt and substantial cash reserves. That financial strength has helped the company continue expanding despite broader market volatility, as shown in its share price movement.

First Solar FSLR stock price

Technology is another key advantage. First Solar uses cadmium telluride thin-film technology, not regular crystalline silicon panels. This tech works better in hot conditions and needs less water to make.

Solar demand also continues to rise globally. The IEA expects solar PV to become the world’s largest source of installed electricity capacity before the end of this decade.

Ultimately, big tech companies are signing more renewable power deals. They want to meet climate goals and support growing electricity needs from AI. That trend could further support long-term utility-scale solar demand in the United States and internationally.

AI and Electrification: The New Engine Driving Clean Energy Markets

The clean energy market in 2026 looks very different from previous investment cycles.

Earlier growth was driven mainly by electric vehicles, solar panels, and climate policy. Today, investors are also focusing on grid infrastructure, battery storage, distributed generation, and AI-related electricity demand.

That shift is creating new opportunities across the energy sector.

Bloom Energy is benefiting from the urgent need for fast, on-site power solutions for AI infrastructure. NextEra Energy continues scaling renewable generation and battery storage to meet surging electricity demand.

GE Vernova is supplying critical equipment for grid modernization and power expansion. First Solar remains a major beneficiary of domestic manufacturing incentives and global solar growth.

At the same time, the sector still faces challenges, including higher interest rates, supply chain risks, and policy uncertainty.

Still, long-term trends remain favorable. Global electricity demand is rising rapidly. Governments continue supporting decarbonization efforts. AI is accelerating the need for new power infrastructure worldwide. Those forces are likely to keep clean energy stocks in focus throughout 2026 and beyond.

As the AI era transforms the global economy, the companies and their stocks building the next generation of clean power infrastructure may also become some of the biggest winners of the energy transition.

Trump-Linked Kazakhstan Tungsten Mega Deal Could Break China’s Grip on Critical Minerals

Jennifer L
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Trump-Linked Kazakhstan Tungsten Mega Deal Could Break China’s Grip on Critical Minerals

A massive tungsten project in Kazakhstan is emerging as one of the most important critical minerals stories of 2026. This week, Skyline Builders Group Holding Ltd and Cove Kaz Capital Group LLC announced a merger agreement that will create a new Nasdaq-listed company called Kaz Resources Inc.

The new company will focus on developing strategic mineral assets in Kazakhstan, including tungsten, rare earths, lithium, tantalum, niobium, and beryllium.

At the center of the deal is the Severniy Katpar tungsten project. The mine is estimated to contain around 1.4 million tonnes of tungsten resources. That is an extraordinary figure considering China’s total tungsten reserves are estimated at roughly 2.4 million tonnes.

In simple terms, one mine in Kazakhstan could equal more than half of China’s entire known tungsten reserve base. That is why the transaction is attracting global attention. It is not just another mining deal. It’s a geopolitical move linked to supply chain security, defense manufacturing, and the fight over critical minerals.

Tungsten Is Becoming One of the World’s Most Strategic Metals

Tungsten is not as widely discussed as lithium or copper, but it is one of the most important industrial metals in the world.

The metal is extremely hard and highly resistant to heat. It is widely used in aerospace systems, military equipment, semiconductors, industrial machinery, drilling tools, electric vehicle (EV) manufacturing, and advanced electronics.

The U.S. classifies tungsten as a critical mineral. Modern industries and defense systems depend on it a lot.

Demand is now rising sharply. At the same time, supply is becoming tighter. That combination is pushing tungsten prices to record highs.

Tungsten prices jumped in early 2026. Benchmark ammonium paratungstate (APT) prices hit record levels in April 2026, up from relatively stable levels in 2025, rising from $400/MTU to over $3,000/MTU. Buyers rushed to secure the supply.  

tungsten price april 2026

China’s Export Controls Spark Global Supply Panic

China currently dominates the global tungsten industry. China is estimated to control about 75% to 85% of the world’s tungsten production. It also holds a larger portion of the processing capacity.

That concentration has become a growing concern for Western governments. The market is now realizing how vulnerable the global tungsten supply chain really is.

One of the biggest drivers behind the recent tungsten rally is China’s tightening control over exports. Industry reports say that Chinese export limits cut global tungsten availability in 2026. Some estimates suggest export volumes fell by around 40%, while international buyers struggled to source alternative supplies fast enough.

This has created what many analysts now describe as a structural supply shortage.

Fastmarkets reported that Chinese mining quotas and lower ore grades were tightening the market. Rising industrial demand made things worse, and then export restrictions added to the strain.

Reuters also reported that inventories remain extremely tight across global markets. The result has been explosive price growth, as shown above. 

Several industry trackers reported tungsten prices more than doubled between 2025 and 2026. Some tungsten chemical products reportedly rose more than 200% in only a few months.

Analysts increasingly believe the market may remain undersupplied for years.

A market forecast predicts that the global tungsten supply-demand gap will surpass 17% from 2026 to 2028. Another report says global tungsten shortages might last until 2027. This is due to new mines outside China taking years to develop.

That backdrop makes Kazakhstan’s giant tungsten project strategically important.

The Kazakhstan Mine Could Become the West’s Next Critical Minerals Hub

According to company disclosures, the Severniy Katpar and Upper Kairakty projects could eventually produce around 12,000 metric tonnes of tungsten annually. That would represent roughly 15% of current global tungsten production.

Very few mining projects outside China are large enough to shift global supply balances. This one potentially can.

The United States appears highly interested in supporting the development financially.

The Export-Import Bank of the United States has reportedly issued a Letter of Interest for up to $900 million in financing support. Meanwhile, the U.S. International Development Finance Corporation is interested in possibly offering another $700 million. Combined support could total as much as $1.6 billion.

That level of potential backing highlights how seriously Washington views critical mineral security.

The project also reflects a wider global trend. Governments are shifting mineral supply chains from China to allied countries. They call this “friend-shoring.” Kazakhstan is becoming an important player in that shift.

Beyond Oil: Kazakhstan’s New Strategic Resource Boom

The country in Central Asia already holds large deposits of uranium, copper, rare earths, and battery minerals. Now it is positioning itself as a future hub for strategic metals needed by Western economies.

Kaz Resources controls several mineral concessions in Kazakhstan. These concessions include rare earth elements, lithium, tantalum, cesium, niobium, and tin. The company also owns a major stake in the Akbulak Rare Earth Project.

This diversification matters because many industries are no longer focused on securing only one critical mineral. Governments and manufacturers increasingly want stable access to entire supply chains.

That includes tungsten. The mineral is very important because it is hard to replace in many industrial and military uses.

Tungsten-based materials are crucial for many products. They are key in defense systems, armor-piercing ammo, jet engines, semiconductor tools, and heavy-duty cutting equipment.

As defense spending rises globally, demand is expected to increase even further.

Why Tungsten Is Becoming the Next Lithium

Multiple industry forecasts now predict strong long-term growth for tungsten demand. The global tungsten market was worth about $5.43 billion in 2025, and might reach around $9.19 billion by 2034, according to Fortune Business Insights.

Separately, Research Nester predicts the market may surpass $11 billion by 2035. This growth will be fueled by semiconductors, electrification, industrial manufacturing, and clean energy technologies.

tungsten market outlook

Analysts say several major trends are supporting long-term tungsten demand growth, including:

  • Rising aerospace production, 
  • Increased global defense spending,
  • Semiconductor expansion,
  • EV manufacturing growth,
  • Renewable energy infrastructure, 
  • Advanced industrial automation, and
  • AI-related hardware manufacturing. 

Tungsten is increasingly being viewed as a “strategic technology metal” rather than just a traditional industrial commodity. That shift is changing investor interest as well.

Mining and resource investors now see tungsten like they once saw lithium and rare earths. It’s a key material for future industrial growth.

Trump Family Ties Add Political Heat to Strategic Metals Deal

The story got more attention when reports said Donald Trump Jr. and Eric Trump invested in Skyline Builders through related investment groups. The involvement of the Trump family adds another political layer to an already strategic transaction.

Critical minerals have become one of the biggest economic and national security priorities in U.S. policy discussions.

Both Democratic and Republican administrations pushed for more mineral independence from China. This includes both domestic resources and allies. Beijing’s export restrictions on key materials have sped up that effort.

The New Global Resource War Has Already Begun

The Kazakhstan tungsten project represents more than a mining investment. It shows how critical minerals are becoming central to global economic strategy, industrial security, and geopolitics.

The world is entering a period where access to metals may become just as important as access to oil and gas once was. And tungsten is rapidly moving to the center of that conversation.

If the Severniy Katpar project reaches full production, it could become one of the most important non-Chinese tungsten supply sources in the world.

For the United States and its allies, that could mark a major step toward reducing dependence on China for one of the world’s most strategically important metals.

GM Bets $625 Million on Nevada Lithium Clay: What It Signals for the Next U.S. Project

Jennifer L
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0
GM Bets $625 Million on Nevada Lithium Clay: What It Signals for the Next U.S. Project

Disseminated on behalf of Surge Battery Metals.

When General Motors (GM) committed $625 million to develop Thacker Pass in Nevada, it did more than fund a lithium project. It established a new model for how automakers secure critical minerals, and in doing so, it reshaped how investors should evaluate the next generation of U.S. lithium assets.

This was not a passive investment. It was a fully structured supply chain partnership, combining equity, long-term offtake, and pricing strategy into a single agreement. 

For investors watching Nevada’s clay lithium sector, the implication is clear: the first project has been validated – now the market is looking for what comes next.

A Landmark Deal and a New Partnership Model

GM’s $625 million investment in Lithium Americas remains one of the largest commitments by an automaker into upstream battery materials. The structure of the deal matters as much as its size. 

GM secured exclusive access to Phase 1 production, locking in long-term supply from Thacker Pass, which is expected to produce around 40,000 tonnes per year of battery-grade lithium carbonate. That output alone could support hundreds of thousands to up to 1 million EVs annually.

More importantly, the agreement evolved into a joint venture structure, with GM ultimately taking a 38% ownership stake in the project while securing long-term offtake rights. This started as a TopCo equity investment but changed into a JV. 

John Evans, LAC CEO, said in an interview on the GM agreement:

“They view this as an investment as much as they do a hedge to ensure that they get low-cost lithium. They want to run this JV as a business.”

A key highlight of the Thacker Pass deal is GM’s offtake agreement, which now serves as a template for a world-class OEM arrangement. GM must purchase at least 20% of its North American lithium demand, with the option to increase to 100%. 

The floor price is “meaningfully above” the August 2024 low (~$10,000/t) but below current prices (~$21,000/t), as noted by Evans. GM was given an effective discount at higher price levels, lightly structured when prices at that time were at ~$60,000/t.

GM provides rolling three-year forecasts, with the next year’s volume fixed, allowing Lithium Americas to commit remaining volume to third parties. The agreement covers up to three years of contracted volume at a time. 

GM Moves Upstream: From Automaker to Lithium Investor

The GM–Thacker Pass agreement highlights a shift in the lithium market. Automakers are moving upstream, directly into mining, to secure supply, manage costs, and reduce geopolitical risk. This approach is driven by both market forces and policy, with the U.S. pushing for domestic sourcing of critical minerals to support EV supply chains.

Key elements of this emerging model include:

  • Equity participation in the mining project,
  • Long-term offtake agreements tied to production, and
  • Structured pricing mechanisms to manage volatility.

Thacker Pass sits at the center of that strategy. It is widely recognized as the largest known lithium resource in the United States, and with construction underway, it is moving from concept to execution.

Breaking the Clay Lithium Barrier

For years, sedimentary clay lithium has carried a persistent discount in the market. Unlike brine operations in South America or hard-rock mining in Australia, clay deposits had never been proven at a commercial scale. The uncertainty around processing, recovery rates, and operating costs limited investor confidence.

Thacker Pass is now changing that, with construction underway, production targeted later this decade, and processing planned using sulfuric acid leaching at an industrial scale. Once operational, it will mark the first large-scale commercial validation of clay lithium extraction.

In resource markets, once a new extraction method is proven, capital follows. Financing improves, development timelines accelerate, and the entire category begins to reprice. This is exactly what happened in Chile’s brine sector decades ago. Clay lithium in Nevada may now be entering a similar phase.

Why This Matters for Investors

GM’s investment provides a real-world benchmark for what a bankable lithium project looks like in today’s market. It demonstrates that:

  • OEMs are willing to invest upstream
  • Long-term offtake agreements can anchor financing
  • Domestic lithium supply is now a strategic priority

It also answers a key question that has held back the sector: Will major industrial players commit to clay lithium at scale? The answer is now yes.

The Next Project in the Queue: NNLP

With Thacker Pass moving forward, investor focus naturally shifts to the next project capable of attracting similar strategic interest. That brings attention to Surge Battery Metals’ Nevada North Lithium Project (NNLP), a structurally aligned next-tier candidate. 

NNLP is not competing with Thacker Pass as a first mover; it is emerging as a next-generation project within a now-validated category.

NNLP stands out based on core project metrics that directly impact economics. Its average lithium grade of 3,010 ppm is significantly higher than Thacker Pass Phase 1 material, which ranges from 1,500 to 2,500 ppm. Higher grades typically translate into more efficient recovery and lower processing intensity per tonne. 

Surge lithium clay comparison

The project also benefits from near-surface mineralization and a low strip ratio of approximately 1.16:1. This may reduce mining complexity and indicate efficient material movement. 

From a cost perspective, NNLP’s estimated operating cost of around $5,243 per tonne LCE compares favorably to LAC’s Thacker Pass guidance of roughly $6,200 per tonne.

Beyond geology, NNLP aligns with the same development framework that defines Thacker Pass. The project has secured a strategic partnership with Evolution Mining, funding up to C$10 million toward the Pre-Feasibility Study (PFS), while Fluor Corporation, the engineering firm involved in Thacker Pass, is leading the PFS at NNLP. 

Surge joint venture evolution mining

Leadership expertise also matters: Steffen Ball, a key member of the team, previously led battery raw material sourcing strategies at major automakers. These include Nissan North America and Ford Motor Company, aligning with the type of OEM agreements now seen in GM–Thacker Pass.

Scale, Market Tailwinds, and Second-Wave Opportunities

Scale is critical to attract major OEM partners. NNLP outlines a 42-year mine life with average annual production of approximately 86,300 tonnes of lithium carbonate equivalent. That output positions it to support long-term anchor offtake agreements, similar in structure to what GM secured at Thacker Pass.

Market fundamentals continue to support these developments:

  • Global lithium demand is projected to more than double by 2030.
  • EV production is scaling rapidly across major markets.
  • Governments are prioritizing domestic supply chains for critical minerals.

Even with recent lithium price volatility, long-term fundamentals remain intact. GM’s investment reflects a forward-looking strategy: secure supply today to avoid constraints tomorrow. 

Thacker Pass carries the burden of being first, proving the process, building infrastructure, and validating the economics of clay lithium. This creates opportunities for projects that follow, like NNLP, which benefit from reduced technical uncertainty, clearer financing pathways, and a market that now understands clay lithium.

First Project Validated, Next Project Poised to Follow

GM’s $625 million investment was not just a bet on one project. It was a commitment to a new supply chain model for lithium—one that integrates mining, manufacturing, and long-term demand into a single structure. Thacker Pass is now proving that model, and NNLP is positioned to fit within it.

With higher grades, favorable mining characteristics, strong development partners, and the right scale, NNLP aligns with the criteria that attracted one of the world’s largest automakers to Nevada clay lithium in the first place. 

For investors, the takeaway is straightforward: the first project is being built, the template is established, and the next project in the queue is becoming easier to identify.

DISCLAIMER 

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. Surge Battery Metals Inc. (“Company”) made a one-time payment of $75,000 to provide marketing services for a term of three months. 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 of the companies mentioned.

This article is informational only and is solely for use by prospective investors in determining whether to seek additional information. It 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 arbitrarily chosen time periods and are no indication whatsoever of future stock prices for that issuer and are of no predictive value.

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BTG Pactual Closes Record $1.24B Reforestation Fund as Forest Carbon Markets Enter the Big Leagues

Jennifer L
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BTG Pactual Closes Record $1.24B Reforestation Fund as Forest Carbon Markets Enter the Big Leagues

BTG Pactual Timberland Investment Group (BTG Pactual TIG) announced that its Latin American Reforestation Strategy raised $1.24 billion in commitments from global investors. The company said this is the largest reforestation fund closed to date. This shows how forest restoration is becoming a major part of climate finance.

The strategy focuses on restoring degraded land across Latin America while also developing sustainable commercial forestry. The project targets around 660,000 acres of land, mainly in Brazil and other parts of the region.

Mark Wishnie, chief sustainability officer at BTG TIG, remarked:

“General progress has continued. These are very long-term commitments, and the shifts in sort of policy and politics in one place or another, particularly for companies or investors that have global footprints, those long-term plans have to take some of that volatility in policy environments into account.”

The fund comes at a time when governments and investors are spending more on nature-based climate solutions. Reforestation is becoming an important tool for carbon removal, biodiversity protection, and long-term emissions reduction.

Millions of Trees, Thousands of Acres: Inside the Latin America Push

Roughly half of the land will be conserved or restored as native forest and habitat. The other half will be used for certified commercial tree farms.

The reforestation strategy is already active on the ground. According to BTG Pactual TIG, around 29 million trees have already been planted across more than 64,000 acres in Brazil. More than 53,000 acres are under conservation, while restoration work has started on another 50,000 acres of native vegetation.

The company said the strategy has already identified more than 1,000 plant and animal species across project areas. It also reported that over 400 miles of streams are under enhanced protection.

Much of the activity is concentrated in Brazil’s Cerrado biome, one of the world’s most biodiverse ecosystems. The region is also one of the most threatened by deforestation linked to agriculture and cattle production.

BTG Pactual TIG said the projects are designed to balance commercial forestry with ecosystem restoration. Commercial tree farms can earn timber revenue over time. Restored forests can provide carbon credits and boost biodiversity.

The strategy also aims to support local economies. At full deployment, the projects are expected to create around 2,700 direct and indirect jobs.

Carbon Markets Under Pressure, But Demand for Forest Credits Keeps Growing

The fundraising milestone comes during a period of increased scrutiny for global carbon markets. Revenues from emissions‑trading systems exceeded $100 billion in 2024 and set a new record in 2025, according to the World Bank and ICAP analyses.

carbon revenues 2024
Source: Institute for Climate Economics

At the same time, buyers are becoming more selective, demanding higher quality and transparency for carbon credit projects. Several markets have slowed due to political uncertainty, energy security concerns, and growing scrutiny over carbon credits.

At the same time, demand for high-quality carbon removal projects continues to grow.

Large companies are under pressure to reduce emissions and meet net-zero targets. Many companies are now investing in nature-based solutions. For example, reforestation helps them reduce emissions in their operations and supply chains.

Microsoft, for example, agreed in 2024 to purchase 8 million tons of carbon removal credits linked to BTG Pactual TIG’s strategy over time. This reflects a wider market shift. Companies are increasingly looking for long-term carbon removal projects instead of short-term offsets.

The voluntary carbon market (VCM) could still expand significantly over the next decade. Analysts from various climate research groups predict a big rise in carbon credit demand by 2030. This is due to stricter corporate climate rules worldwide.

global carbon credit market size 2030

However, investors are becoming more selective. Projects now face stronger demands for transparency, biodiversity protection, and measurable climate impact. This is where nature-based solutions come in.

Why Global Investors Are Pouring Money Into Trees

Institutional investors are increasing exposure to forestry and land restoration assets. BTG Pactual TIG’s investor group includes pension funds, development banks, foundations, insurers, and corporations from several countries.

Participants include:

  • International Finance Corporation (IFC),
  • Brazil’s development bank BNDES,
  • CAF Development Bank of Latin America,
  • Dutch development bank FMO,
  • Singapore-based GenZero,
  • Mining company Vale, and
  • Japanese shipping company Mitsui O.S.K. Lines.

The broad investor base shows that reforestation is now viewed as both an environmental and financial opportunity.

Between 2020 and 2024, global funding for forests and nature-based climate solutions almost doubled. Annual investment rose from less than $12 billion five years ago to about $23.5 billion per year, according to a UNEP report. The funding supports projects focused on forest protection, restoration, and carbon removal.

Public and private finance flows to forests in 2023

Forestry assets are attracting interest because trees can generate multiple forms of value over time. These include timber production, carbon credits, land appreciation, and biodiversity outcomes.

Natural climate solutions are also gaining policy support worldwide as forests play a vital role in fighting climate change. Research published in Nature Climate Change estimates they absorb about 7.6 billion metric tons of CO2 each year.

Latin America is key to forest restoration. It has plenty of land, rich biodiversity, and quick tree growth. BTG Pactual TIG said some trees planted in Brazil since 2023 have already reached more than 30 feet tall due to favorable growing conditions.

BTG Pactual Expands ESG and Sustainable Finance Strategy

The reforestation fund is part of BTG Pactual’s broader sustainability strategy.

BTG Pactual is the largest investment bank in Latin America. The company has expanded its sustainable finance and environmental investment activities over the past several years.

Its timberland division manages about $7.5 billion in assets. This includes commitments across roughly 3 million acres in the U.S. and Latin America. The bank signs the UN Principles for Responsible Investment (PRI). It also supports frameworks for nature-related financial disclosures.

ESG-linked investments are growing in the financial sector. This rise continues even with political debates about sustainability policies in some countries. Banks and asset managers are putting more money into projects for renewable energy, biodiversity, carbon reduction, and climate adaptation.

Nature-based investments are crucial. They tackle several environmental challenges simultaneously. Specifically, reforestation helps with carbon removal, protects water, recovers soil, and restores habitats—all in one project.

Reforestation Becomes a Bigger Part of the Climate Economy

The BTG Pactual TIG fundraising milestone highlights how forests are becoming part of the global climate economy. Governments alone may not have enough funding to restore degraded ecosystems at the scale required. Private capital is increasingly filling that gap.

Large restoration projects are now being structured more like long-term infrastructure investments. They combine environmental goals with commercial returns from timber, land management, and carbon markets.

Several major projects show this trend. The Great Green Wall initiative in Africa aims to restore 100 million hectares of degraded land by 2030. This project focuses on the Sahel region. It will also support agriculture, create jobs, and help capture carbon.

In Latin America, companies such as Mombak and re.green are developing large-scale forest restoration projects in Brazil. They generate carbon removal credits for corporate buyers.

Investment firms like Brookfield Asset Management and Manulife Investment Management have grown their sustainable timberland portfolios. These portfolios mix commercial forestry income with biodiversity and carbon strategies.

Reforestation projects are now seen as both a climate solution and a long-term investment.

Still, challenges remain. Carbon markets continue to face concerns about quality and verification. Investors also face risks linked to land use, regulation, and long project timelines.

Yet momentum continues to build.

As more companies set net-zero goals and biodiversity targets, the demand for big restoration projects will likely rise. Latin America has great growth potential, with its large forest resources and good climate conditions supporting this.

For BTG Pactual TIG, the $1.24 billion close marks more than a fundraising milestone. It shows how reforestation is evolving from a niche environmental effort into a major global investment strategy.

CATL Secures $5 Billion Hong Kong Capital Raise for EV Battery Production Expansion

Jennifer L
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CATL Secures $5 Billion Hong Kong Capital Raise for EV Battery Production Expansion

Contemporary Amperex Technology Co. Limited (CATL), the world’s largest electric vehicle (EV) battery maker, has raised about $5 billion through a major share placement in Hong Kong. The deal strengthens the company’s global expansion plans and highlights growing investor confidence in clean energy and battery technologies.

CATL sold 62.385 million new H shares at HK$628.20 each, raising HK$39.2 billion ($5 billion). The placement is the largest equity offering in Hong Kong so far this year and one of the biggest globally in 2026.

Global demand for EV batteries, energy storage, and low-carbon tech is rapidly increasing. Governments are tightening emissions rules. Automakers are ramping up EV production. Energy companies are also investing heavily in battery storage. All these support renewable energy grids.

CATL Pulls Off One of 2026’s Biggest Global Fundraises

The offering drew great interest from institutional investors, even though it was priced at the lower end of CATL’s range. The shares were sold at a 7% discount to the company’s previous closing price of HK$675.50. Investors reportedly subscribed to the entire allocation within about an hour of launch.

More than 150 institutional investors joined the placement, including hedge funds and long-term asset managers. Analysts said the deal benefited from strong market interest in clean energy stocks as the Iran war drives up oil prices and ramps up the global shift away from fossil fuels.

CATL’s shares in Hong Kong have jumped about 137% to 157% since their secondary listing in May 2025. At that time, the company raised around $4.6 billion, making it the largest IPO in the world that year. Its Shenzhen-listed shares are also up more than 16% this year, giving the company a market value approaching $294 billion.

The latest fundraising also reflects broader momentum in Hong Kong’s capital markets. KPMG reports that Hong Kong IPOs raised nearly HK$110 billion in Q1 2026. PwC expects total fundraising this year to hit HK$320 billion to HK$350 billion.

Notably, CATL’s share price declined nearly 7% following the discounted equity placement announcement.

CATL stock share price

The Battery Giant Powering the Global EV Revolution

CATL remains the largest EV battery manufacturer in the world by market share. According to South Korean research firm SNE Research, the company controlled about 38% to 40% of the global EV battery market during 2025.

CATL dominate global ev battery use
Source: SNE Research

Global EV battery installations reached around 1,187 gigawatt-hours (GWh) in 2025, up 31.7% from 901.4 GWh the previous year. CATL alone accounted for roughly 464.7 GWh of installed battery capacity. That means nearly 4 out of every 10 EV batteries installed globally came from CATL.

The company provides batteries to major automakers worldwide. This includes Tesla, BMW, Mercedes-Benz, and Volkswagen. It also supplies Chinese EV makers like Li Auto, Xiaomi, and Geely Auto.

CATL’s battery output has grown rapidly from roughly ~220 GWh in 2021 to about 465 GWh in 2025, more than doubling in four years. This steady increase shows that global EV adoption is speeding up. Automakers are demanding more, and CATL is expanding its manufacturing capacity. This growth strengthens CATL’s leading role in the global EV battery market.

CATL Annual Battery Output, EV Battery Shipments, Sales
Data Source: SNE Research

Demand for EV batteries is expected to remain strong over the next decade. The International Energy Agency (IEA) predicts that global EV sales may reach over 45 million vehicles each year by 2030 if current policies stay the same. This would more than double current levels. It would greatly boost the demand for battery manufacturing capacity.

This projection is echoed by BNEF’s estimates, as shown below.

global EV sales 2030 BNEF

At the same time, battery energy storage systems are becoming a major growth market. BloombergNEF expects global battery storage to grow over six times by 2035. Meanwhile, countries are focusing on renewable energy and upgrading their power grids.

CATL Expands Manufacturing Across Europe and Asia

CATL said the proceeds from the placement will support:

  • overseas manufacturing expansion,
  • supply chain development,
  • research and development,
  • zero-carbon initiatives, and
  • general corporate operations.

Most of the funding will support the company’s €7.3 billion battery plant in Hungary. This plant is one of the largest battery projects in Europe. The facility is expected to supply major European automakers and strengthen CATL’s position in the region.

The company is also expanding operations in Germany, Indonesia, and Spain. CATL and Stellantis are jointly building a battery factory in Spain that is expected to begin production by the end of 2026.

These investments reflect a broader industry trend toward regionalized battery production. Automakers want local supply chains. This helps cut logistics costs, boosts energy security, and meets tougher carbon reporting rules.

China still dominates the global battery supply chain. China makes over 75% of the world’s lithium-ion batteries, according to the IEA. It also processes a significant amount of key minerals like lithium, cobalt, and graphite.

Zero-Carbon Factories and Recycling Become Strategic Priorities

CATL is investing a lot in lower-carbon manufacturing and battery recycling. This comes as global sustainability standards get stricter.

The company is pushing for “zero-carbon factories.” These factories will use more renewable electricity, improve energy efficiency, and reduce emissions. These efforts align with China’s broader carbon neutrality goal of reaching net-zero emissions by 2060.

Battery production can generate significant emissions because it requires large amounts of energy and raw materials. Research from the International Council on Clean Transportation (ICCT) shows that battery manufacturing can make up over 40% of an EV’s total production emissions. This depends on the electricity mix used during manufacturing.

To address this issue, CATL is expanding battery recycling operations and investing in cleaner production systems. Recycling recovers key minerals like lithium, nickel, and cobalt. It also cuts down on the need for new mining.

The company has also developed sodium-ion battery technology, which could reduce long-term dependence on lithium and improve supply chain resilience. CATL has formed a strategic partnership with Beijing HyperStrong Technology. This deal involves 60 GWh of sodium-ion battery cooperation over the next three years.

Why CATL Is Becoming Critical to the Global Energy Transition

CATL’s rapid expansion reflects the growing role batteries play in the global energy transition. Batteries are critical for:

  • electric transportation,
  • renewable energy storage,
  • grid stability, and
  • emissions reduction.

As countries work toward climate targets, demand for large-scale battery manufacturing is expected to rise sharply. The global battery market might surpass $400 billion each year by the early 2030s, based on several industry forecasts.

battery market size 2030

Governments in Europe, the United States, and Asia are now enforcing stricter rules. These rules focus on battery emissions, recycling, and supply chain transparency. Companies that can make batteries at scale and reduce carbon intensity might gain a big edge.

CATL’s new fundraising boosts its resources. This helps the company expand capacity, invest in cleaner technologies, and grow its global presence. All this comes during a time of fast market growth.

Batteries Are Now the Backbone of the Clean Energy Economy

CATL’s $5 billion share placement in Hong Kong shows that investors believe in the future of EVs, battery storage, and clean energy.

The company already controls more than 40% of the global EV battery market and continues to expand across Europe and Asia. Its investments in zero-carbon factories, recycling systems, and next-gen batteries help it adapt to stricter environmental rules and the growing demand for lower-emission supply chains.

As the global shift toward electrification accelerates, CATL is emerging as one of the most influential companies shaping the future of transportation and energy storage worldwide.

Blackstone Bets €2B on Eurowind as Europe’s Renewable Energy Boom Meets AI-Driven Power Surge

Jennifer L
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0
Blackstone Bets €2B on Eurowind as Europe’s Renewable Energy Boom Meets AI-Driven Power Surge

Blackstone is investing up to €2 billion ($2.3 billion) in Danish renewable energy developer Eurowind Energy. The deal marks one of the largest recent private investments in Europe’s clean energy sector.

The investment will give Blackstone a significant minority stake in Eurowind. Current owners, like Danish energy and telecom group Norlys and Eurowind’s founders, will stay as majority shareholders.

Founded in 2006, Eurowind develops and operates renewable energy projects across Europe. Its portfolio includes onshore wind, solar, battery storage, and biogas projects in 16 European markets. The company has expanded rapidly as Europe accelerates its energy transition.

Blackstone Makes One of Europe’s Biggest Clean Energy Bets Yet

The deal comes at a time when Europe faces rising electricity demand, energy security concerns, and pressure to reduce carbon emissions.

Blackstone said the new capital will help Eurowind speed up renewable energy deployment across the region. Adam Kuhnley, Co-Head of European Investments at Blackstone Infrastructure, stated:

“Significant capital will be required to meet European energy demand in the coming years, and Blackstone is well-positioned to support and accelerate Europe’s energy infrastructure build-out.”

Eurowind Energy CEO Jens Rasmussen remarked:

“Blackstone brings a long-term perspective with perpetual capital and believes in Eurowind Energy’s strategy to become a leading independent power producer in Europe. The firm has significant experience within energy and infrastructure, and the investment will allow us to accelerate the pace of expansion and install three to four times more solar and wind energy as well as batteries versus our current pace.”

The transaction shows that private capital is now vital for funding Europe’s clean energy growth. For years, electricity demand in Europe was mostly flat. That is now changing.

Blackstone predicts that European power demand will rise by over 3% each year until 2040. The increase is being driven by electrification, artificial intelligence (AI), industrial expansion, and the push for greater energy independence.

Several industries are adding pressure to the power grid.

Electric vehicles are increasing electricity use in transportation. Data centers supporting AI require massive amounts of constant power. Heavy industries are also shifting from fossil fuels to electricity-based systems to cut emissions.

The region is also cutting back on imported fossil fuels. This shift follows the energy crisis caused by the Russia-Ukraine war. This has increased investment in local renewable energy infrastructure.

The International Energy Agency (IEA) says renewable energy will make up almost 95% of new global power capacity by 2030. Solar and wind will drive this growth.

Europe renewable power capacity forecast 2030

Europe remains one of the world’s largest renewable energy markets. The European Union aims to cut greenhouse gas emissions by at least 55% by 2030. This goal compares to levels from 1990.

Europe needs big investments in renewable energy, battery storage, and updating the grid to meet these goals.

Eurowind Expands Beyond Traditional Wind Power

Although Eurowind began as a wind developer, the company is now expanding into broader energy infrastructure. Its projects include:

  • Onshore wind farms, 
  • Solar energy parks, 
  • Battery storage systems, 
  • Biogas facilities, and
  • Power-to-X technologies.

Power-to-X refers to technologies that convert renewable electricity into fuels such as green hydrogen. These systems are getting attention. They can help reduce carbon emissions in tough-to-electrify industries. This includes aviation, shipping, and heavy manufacturing.

This diversification reflects broader changes in the renewable sector.

Developers are increasingly combining wind, solar, and storage systems into integrated energy platforms. Battery storage is becoming increasingly important because renewable electricity generation can vary with weather conditions.

BloombergNEF reports that global energy storage will grow rapidly this decade. Grids will depend more on renewable energy. Eurowind’s broader platform may help it capture multiple areas of growth within the energy transition.

global energy storage boom BNEF

The company gains by operating in multiple European markets. This approach helps lower dependence on just one country or regulatory system.

Why Private Capital Is Now Powering the Energy Transition

The Blackstone deal also reflects a growing shift in how renewable energy projects are financed. Large investment firms are increasing exposure to infrastructure assets tied to decarbonization and electrification.

Blackstone manages around $1.3 trillion in assets worldwide. This includes investments in infrastructure, energy, real estate, and private equity.

The company has been active in Europe for more than 25 years and reported investments of about $400 billion in European assets by the end of 2025. It also sees opportunities to invest more than $500 billion in Europe by 2035.

Blackstone’s current portfolio is structured around three primary pillars:

  • Renewable Generation and Storage,
  • Electrification and Grid Modernization, and
  • Energy Security and Resilience.

Blackstone’s Recent Strategic Investments

Blackstone has used its infrastructure and private equity divisions to acquire significant stakes in companies in the renewable and utility sectors. All of these are officially announced by the company.

  • Eurowind Energy (April 2026): committed up to €2 billion to acquire a 24.7% stake in this Denmark-based developer.
  • Sunotec (April 2026): This is a tactical equity investment. It aims to speed up the development of solar power, battery storage, and grid infrastructure in Germany and the UK.
  • Advanced Cooling Technologies (March 2026): Blackstone Energy Transition Partners acquired a majority stake in this thermal management manufacturer. This move addresses the cooling needs of high-power density AI data centers.
  • TXNM Energy (Approval Feb 2026): Blackstone passed a key regulatory step for its $11.5 billion buy of New Mexico’s largest electric utility parent company. The deal is targeted to close in late 2026.
  • Natural Gas for AI (July 2025): They teamed up with PPL Corporation to build gas-fired plants in Pennsylvania. This will support the growth of data centers.

The firm manages these initiatives through specialized platforms, including:

  • Blackstone Energy Transition Partners: Its dedicated private equity arm, which has committed over $28 billion to energy sectors globally.
  • Sustainable Resources Credit Platform: A specialized credit platform launched to address the financing needs of large-scale decarbonization projects.
  • Energy Transition Fund V: As of early 2026, Blackstone is raising its fifth energy transition fund, which is expected to be “meaningfully larger” than previous vintages due to high deal flow in the electrification ecosystem.

These private equity and infrastructure funds, along with others, are key players in clean energy. Governments can’t finance the large investments needed on their own.

The IEA estimates that global clean energy investment is over $2 trillion a year. Spending will likely increase to meet climate goals.

global clean energy investment 2025 by IEA

Renewable energy projects are increasingly being treated like long-term infrastructure assets. Investors are attracted by stable cash flows, long operating lifespans, and growing electricity demand.

At the same time, ESG and sustainability goals are influencing capital allocation decisions. Big investors feel the pressure to back lower-carbon assets. They also need to cut ties with high-emission sectors.

Europe’s Renewable Gold Rush Is Getting Crowded

The Blackstone-Eurowind deal comes during intense competition for renewable energy assets.

Global investors are racing to secure positions in fast-growing clean energy markets. Pension funds, sovereign wealth funds, private equity firms, and infrastructure investors are all increasing exposure to renewable projects.

Moreover, electricity is becoming more central to transportation, manufacturing, AI infrastructure, and heating systems. This is increasing the need for reliable and low-carbon power generation.

For investors, renewable infrastructure is viewed both as an environmental strategy and as a long-term growth opportunity tied to Europe’s economic transformation.

Blackstone’s €2 billion investment in Eurowind reflects that shift. It shows how large financial firms are positioning themselves for a future where clean electricity, energy security, and digital infrastructure become deeply connected across the European economy.

Amazon-Backed X-Energy Pulls Off $1B Nuclear IPO as AI Power Race Heats Up

Jennifer L
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Amazon-Backed X-Energy Pulls Off $1B Nuclear IPO as AI Power Race Heats Up

X-Energy, a U.S. nuclear reactor developer backed by Amazon, has raised $1.02 billion in one of the biggest nuclear energy public offerings in recent years. The company sold about 44.3 million shares at $23 each, above its original target range of $16 to $19 per share. The stock began trading on the Nasdaq under the ticker XE.

Investor demand was strong. Reports said the IPO was heavily oversubscribed, reflecting growing interest in nuclear energy as artificial intelligence (AI) sharply increases electricity demand.

After trading began, X-Energy’s valuation climbed close to $12 billion. Its stock also surged in its Nasdaq debut, jumping about 27% above its $23 IPO price to around $29 per share.

The IPO also marked a major turnaround for the company. In 2023, X-Energy canceled a planned SPAC merger because of weak market conditions. Less than three years later, the same company returned to public markets with much stronger investor support.

The shift reflects a larger change in global energy markets. AI growth is creating massive new electricity demand, and many technology companies are now searching for stable, carbon-free power sources.

AI Boom Is Reviving Interest in Nuclear Energy

AI data centers require enormous amounts of electricity. Unlike traditional internet services, AI systems run complex computing workloads around the clock.

According to the International Energy Agency (IEA), global electricity demand from data centers is expected to more than double by 2030. AI will become one of the biggest drivers of that growth. This is changing how technology companies think about energy supply.

Renewable energy remains important, but solar and wind power can fluctuate depending on the weather and the time of day. Nuclear energy, by contrast, can provide continuous electricity with near-zero operational carbon emissions.

lifecycle emissions of nuclear coal gas
Source: World Nuclear Organization

That is one reason companies such as Amazon, Microsoft, Google, and Meta are increasing interest in nuclear power partnerships. Amazon invested about $500 million in X-Energy in 2024 to support small modular reactor, or SMR, deployment.

The company also signed agreements tied to future nuclear power supply. Under one agreement, Amazon plans to support up to 5 gigawatts (GW) of nuclear capacity from X-Energy projects by 2039.

  • For comparison, 5 GW is enough electricity capacity to power several million homes.

The growing link between AI and energy demand is now reshaping investment flows across the energy sector. And nuclear is largely impacted. 

How X-Energy’s Xe-100 Reactor Technology Works

X-Energy focuses on advanced nuclear systems called small modular reactors. Its main design is the Xe-100 reactor, a high-temperature gas-cooled reactor that uses helium instead of water for cooling. Each unit can generate about 80 megawatts (MW) of electricity.

The company says the reactor is designed to be safer and more flexible than traditional large nuclear plants.

The Xe-100 also uses TRISO fuel particles, which are built to withstand very high temperatures. X-Energy says the fuel can retain more than 99.99% of fission products under extreme conditions.

Another advantage is scalability. Instead of building one massive nuclear station, utilities can deploy multiple smaller reactor units over time. This approach could reduce construction risk and shorten development timelines.

X-Energy has already secured important regulatory progress. Its fuel facility in Oak Ridge, Tennessee, received a 40-year special nuclear material license from the U.S. Nuclear Regulatory Commission (NRC). According to reports, this was the first license of its kind granted for a new fuel fabrication facility in about 50 years.

The company is also developing a four-reactor project for Dow Chemical in Texas.

The Nuclear Comeback Is Going Global

X-Energy’s IPO reflects broader momentum across the nuclear sector. Governments and investors are increasingly viewing nuclear power as part of long-term decarbonization strategies.

According to the International Atomic Energy Agency (IAEA), nuclear power currently supplies around 9% of global electricity and roughly 25% of low-carbon electricity worldwide.

nuclear energy power share 2024
Figure 2: World electricity production by source 2023. Source: World Nuclear Association

At the COP28 climate summit, more than 20 countries supported a goal to triple global nuclear capacity by 2050.

Investment activity is also accelerating. Companies such as Oklo, NuScale Power, TerraPower, and Kairos Power are all developing advanced reactor systems. Several projects are backed by major technology investors and government funding programs.

The U.S. Department of Energy selected X-Energy for its Advanced Reactor Demonstration Program (ARDP) in 2020. The program committed about $1.2 billion toward the development of the Xe-100 reactor and fuel technology.

Private capital is also flowing into the sector. Market analysts expect the global SMR market to grow significantly over the next decade as countries seek reliable low-carbon electricity sources.

SMR Global Installed Capacity by Scenario and Case, 2025-2050 IEA data

Demand is especially rising from industries with large energy needs, including AI infrastructure, manufacturing, hydrogen production, and heavy industry.

Amazon and Big Tech Push Net Zero Energy Strategies

Large technology companies are under pressure to reduce emissions while supporting rapid AI expansion.

Amazon has committed to reaching net-zero carbon emissions by 2040 under its Climate Pledge initiative. The company also aims to match its operations with 100% renewable energy. However, AI data centers are increasing electricity consumption rapidly. This has made energy reliability a growing concern.

Nuclear power is now being explored as part of broader clean energy strategies.

Microsoft recently signed agreements tied to nuclear energy development. Google has also backed advanced nuclear energy and clean energy systems to support future AI infrastructure.

Many companies now see nuclear power as a complement to renewable energy rather than a replacement. The goal is to combine different low-carbon energy sources to maintain a stable electricity supply while reducing emissions.

For X-Energy, this creates a large potential customer base. The company reported a growing project pipeline involving utilities, industrial firms, and technology companies.

From IPO to Power Grid: Challenges Remain, But a New Energy Economy Takes Shape

Despite investor excitement, advanced nuclear development still faces major challenges. Most SMR projects are still years away from full commercial operation.

X-Energy’s reactors have not yet produced commercial electricity. Several projects are still under regulatory review and permitting stages.

Nuclear projects also face high upfront costs and long construction timelines. Past projects in the industry have experienced delays and budget overruns. Analysts say commercialization risks remain significant for all advanced reactor developers.

Still, investor interest remains strong because energy demand is growing rapidly. The rise of AI is creating a new market dynamic where electricity supply is becoming a strategic issue for technology companies.

The IEA estimates that data centers could consume more than 1,000 TWh annually by 2030. And nuclear energy is expected to play a bigger role later in the decade as small modular reactors enter the market.

sources of electricity for data center nuclear

This is helping reshape the role of nuclear energy in the global energy transition. Advanced nuclear systems are increasingly being viewed as a potential source of reliable baseload power that can support both decarbonization goals and the fast-growing electricity needs of the AI economy.

For X-Energy, the successful IPO is more than a fundraising event. It signals that advanced nuclear power is moving closer to the center of the AI-driven energy economy.

TotalEnergies Pushes $1.2B Kazakhstan Wind Bet Amid Legal Storms and Energy Transition Pressure

Jennifer L
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0
TotalEnergies Pushes $1.2B Kazakhstan Wind Bet Amid Legal Storms and Energy Transition Pressure

TotalEnergies has approved a $1.2 billion investment in a large wind and battery project in Kazakhstan. The project moves ahead even with ongoing legal disputes in the country.

The project is called the Mirny wind farm. It is one of the largest renewable energy projects in Central Asia. It will combine 1 gigawatt (GW) of wind capacity with a 600 megawatt-hour (MWh) battery storage system.

The system will help store electricity when wind production is high and will release power when demand is high.

Olivier Jouny, SVP Renewables at TotalEnergies, stated:

“We are delighted to launch one of Kazakhstan’s largest renewable energy initiatives to date, thereby contributing to the country’s target of increasing the share of renewables in electricity generation to 15% by 2030…This 1 GW onshore wind farm will also contribute to the 9 GW renewables portfolio that we are combining with Masdar through a 50/50 joint venture across nine Asian countries, including Kazakhstan.”

Mirny Project Unpacked: Wind Power Meets Grid-Scale Battery Storage

Once completed, the project is expected to supply electricity for around 1 million people. It is also expected to generate about 100 terawatt-hours (TWh) over 25 years. Full operation is targeted for 2029.

However, TotalEnergies is still involved in legal disputes in Kazakhstan’s oil sector. These include a $4.6 billion environmental fine linked to the Kashagan oilfield. There are also disagreements over costs and contracts.

This creates a mixed picture. The energy giant is expanding clean energy while still facing fossil fuel-related legal risks.

Kazakhstan_EN Mirny wind project totalenergies
Source: TotalEnergies

The Mirny wind project is built through a joint structure. TotalEnergies owns 60% of the project. Kazakhstan’s state companies Samruk Energy and KazMunayGas each hold 20%.

The project is also backed by global financing. Around 75% of the total cost will come from external lenders, including development banks and commercial banks.

One key supporter is the European Bank for Reconstruction and Development (EBRD). This reflects a wider trend where multilateral banks support renewable energy growth in emerging markets.

The electricity will be sold under a 25-year power purchase agreement (PPA). This long-term contract reduces market risk and stabilizes revenue. Such structures are now common in large renewable projects. They help reduce upfront risk for developers.

Legal Clouds Over Oil, Clean Energy Rising in Parallel

TotalEnergies has operated in Kazakhstan since 1993. It follows a multi-energy strategy that includes both oil and gas production and renewable energy projects.

The oil giant holds a 16.81% stake in the North Caspian Project, which supports Kazakhstan’s energy output and economic stability. It also runs 128 MW of solar projects in the country.

These projects are designed to support Kazakhstan’s goal of reaching net zero emissions by 2060.

However, TotalEnergies’ expansion in Kazakhstan is not without risk. The company is still linked to major disputes in the oil and gas sector.

The most notable is a $4.6 billion environmental penalty tied to operations at the Kashagan oilfield. There are also disagreements over cost recovery and investment terms with partners.

These disputes matter for investors. They show that even large energy companies face legal and financial uncertainty in resource-heavy markets. Some global oil companies have slowed investment in similar regions due to regulatory risks. Others have restructured their portfolios to reduce exposure.

TotalEnergies, however, continues to invest in both fossil fuel operations and renewable projects at the same time. This dual strategy reflects a transition phase in the global energy sector.

Kazakhstan’s Energy Crossroads: Oil Giant, Renewable Future

Kazakhstan plays an important role in global energy markets. The country is one of the largest oil producers in Central Asia. Oil and gas still dominate its energy mix and export revenues. Energy exports are a major source of national income.

International Energy Agency - Electricity generation sources, Kazakhstan, 2023

At the same time, Kazakhstan is trying to expand renewable energy. The government has set a target to reach 15% renewable electricity share by 2030. It currently relies heavily on coal, which still generates a large share of electricity.

Kazakhstan has strong wind resources, especially in the central and southern regions. Average wind speeds in some areas make it suitable for large-scale wind farms. The share of wind in electricity generation has been increasing, as shown below. 

International Energy Agency - Evolution of renewable electricity generation by source (non-combustible) in Kazakhstan since 2000

The country also faces growing electricity demand. Industrial growth and urban expansion are increasing pressure on the power grid. This creates a need for new capacity. Renewable energy is seen as one way to meet future demand while reducing emissions.

International companies are increasingly active in this transition. Projects like Mirny are part of Kazakhstan’s strategy to attract foreign investment into clean energy infrastructure.

However, challenges remain. The grid still depends on older fossil fuel systems. Integration of wind and solar requires upgrades in transmission and storage. This makes hybrid projects, like wind plus battery storage, more important for stability.

Global Energy Shift Drives Renewable Expansion

The Kazakhstan project reflects a wider global energy shift. Renewable energy capacity is expanding rapidly worldwide. The International Energy Agency (IEA) reports that wind and solar are leading new power generation growth across many regions.

Similarly, Ember recently reported that renewable and clean power overtook fossil fuels in 2025.

clean power growth 2025 ember report

Governments are also tightening climate policies. Many countries now require companies to report emissions and reduce carbon intensity.

The European Union, the United States, China, and Japan are all strengthening clean energy and disclosure rules. This is increasing pressure on global energy firms.

In emerging markets, renewable energy is also linked to economic development. It helps improve energy access and reduce dependence on imported fuels.

Kazakhstan is part of this global trend. It is trying to attract foreign capital while modernizing its energy system. For the oil giant, it impacts its decarbonization journey. 

TotalEnergies’ Net Zero Strategy and Energy Transition Plan

TotalEnergies has a long-term climate strategy. The company targets net zero emissions by 2050 across its operations and energy products.

TotalEnergies net zero 2050 ambition
Source: TotalEnergies

It is also expanding its electricity business. This includes solar, wind, and battery storage projects worldwide. Key targets include:

  • Reaching 100 GW of renewable capacity by 2030,
  • Producing more than 100 TWh of electricity annually by 2030, and
  • Expanding low-carbon power and integrated energy systems.

All these help reduce the company’s GHG emissions in 2025 compared to the prior year.

TotalEnergies GHG Emissions Dropped 2025

As of recent reporting, TotalEnergies operates over 30 GW of renewable capacity globally. This makes it one of the largest renewable investors among traditional oil companies.

The Kazakhstan wind farm supports this strategy. It combines generation and storage at scale. This improves grid reliability and supports the long-term decarbonization goals of the oil major.

Balancing Growth, Risk, and Energy Transition

The Mirny project shows the complexity of today’s energy transition.

On one side, there is a strong demand for renewable energy investment. On the other hand, legal and political risks remain in fossil fuel-linked economies.

Companies like TotalEnergies are managing both sides at once. They continue oil and gas operations while expanding renewable energy portfolios. This balance is not simple. Legal disputes, financing risks, and regulatory changes all affect project timelines.

Still, large hybrid projects are becoming more common. They combine wind, solar, and battery storage to improve stability.

As global energy demand rises, projects like Mirny will likely play a larger role in emerging markets. They show how energy companies are adapting to both climate pressure and economic realities at the same time.

Apple, Amazon Lead 60+ Firms to Ease Global Carbon Reporting Rules

Jennifer L
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Apple, Amazon Lead 60+ Firms to Ease Global Carbon Reporting Rules

More than 60 global companies, including Apple, Amazon, BYD, Salesforce, Mars, and Schneider Electric, are pushing back against proposed changes to global emissions reporting rules. The group is calling for more flexibility under the Greenhouse Gas Protocol (GHG Protocol), the most widely used framework for measuring corporate carbon footprints.

The companies submitted a joint statement asking that new requirements, especially those affecting Scope 2 emissions, remain optional rather than mandatory. Their letter stated:

“To drive critical climate progress, it’s imperative that we get this revision right. We strongly urge the GHGP to improve upon the existing guidance, but not stymie critical electricity decarbonization investments by mandating a change that fundamentally threatens participation in this voluntary market, which acts as the linchpin in decarbonization across nearly all sectors of the economy. The revised guidance must encourage more clean energy procurement and enable more impactful corporate action, not unintentionally discourage it.”

The debate comes at a critical time. Corporate climate disclosures now influence trillions of dollars in capital flows, while stricter reporting rules are being introduced across major economies.

The Rulebook for Carbon: What the GHG Protocol Is and Why It’s Being Updated

The Greenhouse Gas Protocol is the world’s most widely used system for measuring corporate emissions. It is used by over 90% of companies that report greenhouse gas data globally, making it the foundation of most climate disclosures.

It divides emissions into three categories:

  • Scope 1: Direct emissions from operations
  • Scope 2: Emissions from purchased electricity
  • Scope 3: Emissions across the value chain
scope emissions sources overview
Source: GHG Protocol

The current Scope 2 rules were introduced in 2015, but energy markets have changed since then. Renewable energy has expanded, and companies now play a major role in funding clean power.

Corporate buyers have already supported more than 100 gigawatts (GW) of renewable energy capacity globally through voluntary purchases. This shows how influential the current system has been.

The GHG Protocol is now updating its rules to improve accuracy and transparency. The revision process includes input from more than 45 experts across industry, government, and academia, reflecting its global importance.

Scope 2 Shake-Up: The Battle Over Real-Time Carbon Tracking

The proposed update would shift how companies report electricity emissions. Instead of using flexible systems like renewable energy certificates (RECs), companies would need to match their electricity use with clean energy that is:

  • Generated at the same time, and
  • Located in the same grid region.

This is known as “24/7” or hourly or real-time matching. It aims to reflect the actual impact of electricity use on the grid. Companies, including Apple and Amazon, say this shift could create challenges.

GHG accounting from the sale and purchase of electricity
Source: GHG Protocol

According to industry feedback, stricter rules could raise energy costs and limit access to renewable energy in some regions. It can also slow corporate investment in new clean energy projects.

The concern is that many markets do not yet have enough renewable supply for real-time matching. Infrastructure for tracking hourly emissions is also still developing.

This creates a key tension. The new rules could improve accuracy and reduce greenwashing. But they may also make it harder for companies to scale clean energy quickly.

The outcome will shape how companies measure emissions, invest in renewables, and meet net-zero targets in the years ahead.

Why More Than 60 Companies Oppose the Changes

The companies argue that stricter rules could slow climate progress rather than accelerate it. Their main concern is cost and feasibility. Many regions still lack enough renewable energy to support real-time matching. For global companies, aligning energy use across different grids is complex.

In their joint statement, the group warned that mandatory changes could:

  • Increase electricity prices,
  • Reduce participation in voluntary clean energy markets, and
  • Slow investment in renewable energy projects.

They argue that current market-based systems, such as RECs, have helped scale clean energy quickly over the past decade. Removing flexibility could weaken that momentum.

This reflects a broader tension between accuracy and scalability in climate reporting.

Big Tech Pushback: Apple and Amazon’s Climate Progress

Despite their push for flexibility, both companies have made measurable progress on emissions reduction.

Apple reports that it has reduced its total greenhouse gas emissions by more than 60% compared to 2015 levels, even as revenue grew significantly. The company is targeting carbon neutrality across its entire value chain by 2030. It also reported that supplier renewable energy use helped avoid over 26 million metric tons of CO₂ emissions in 2025 alone.

In addition, about 30% of materials used in Apple products in 2025 were recycled, showing a shift toward circular manufacturing.

Amazon has also set a net-zero target for 2040 under its Climate Pledge. The company is one of the world’s largest corporate buyers of renewable energy and continues to invest heavily in clean power, logistics electrification, and low-carbon infrastructure.

Both companies argue that flexible accounting frameworks have supported these investments at scale.

The Bigger Challenge: Scope 3 and Digital Emissions

The debate over Scope 2 reporting is only part of a larger issue. For most large companies, Scope 3 emissions account for more than 70% of total emissions. These include supply chains, product use, and outsourced services.

In the technology sector, emissions are rising due to:

  • Data centers,
  • Cloud computing, and
  • Artificial intelligence workloads.

Global data centers already consume about 415–460 terawatt-hours (TWh) of electricity per year, equal to roughly 1.5%–2% of global power demand. This figure is expected to increase sharply. The International Energy Agency estimates that data center electricity demand could double by 2030, driven largely by AI.

This creates a major reporting challenge. Even with cleaner electricity, total emissions can rise as digital demand grows.

Climate Reporting Rules Are Tightening Globally

The pushback comes as climate disclosure requirements are expanding and becoming more standardized across major economies. What was once voluntary ESG reporting is steadily shifting toward mandatory, audit-ready climate transparency.

In the European Union, the Corporate Sustainability Reporting Directive (CSRD) is now active. It requires large companies and, later, listed SMEs, to share detailed sustainability data. This data must match the European Sustainability Reporting Standards (ESRS). This includes granular reporting on emissions across Scope 1, 2, and increasingly Scope 3 value chains.

In the United States, the Securities and Exchange Commission (SEC) aims for mandatory climate-related disclosures for public companies. This includes governance, risk exposure, and emissions reporting. However, some parts of the rule face legal and political scrutiny.

The United Kingdom has included climate disclosure through TCFD requirements. Now, it is moving toward ISSB-based global standards to make comparisons easier. Similarly, Canada is progressing with ISSB-aligned mandatory reporting frameworks for large public issuers.

In Asia, momentum is also accelerating. Japan is introducing the Sustainability Standards Board of Japan (SSBJ) rules that match ISSB standards. Meanwhile, China is tightening ESG disclosure rules for listed companies through updates from its securities regulators. Singapore has also mandated climate reporting for listed companies, with phased Scope 3 expansion.

A clear trend is forming across jurisdictions: climate disclosure is aligning with ISSB global standards. There’s a growing focus on assurance, comparability, and transparency in value-chain emissions.

This regulatory tightening raises the bar significantly for corporations. The challenge is clear. Companies must:

  • Align with multiple evolving disclosure regimes,
  • Ensure emissions data is verifiable and auditable, and
  • Expand reporting across complex global supply chains.

Balancing operational growth with compliance is becoming increasingly complex as climate regulation converges and intensifies worldwide.

A Turning Point for Global Carbon Accounting 

The outcome of this debate could shape global carbon accounting standards for years.

If stricter rules are adopted, emissions reporting will become more precise. This could improve transparency and reduce greenwashing risks. However, it may also increase compliance costs and limit flexibility.

If the proposed changes remain optional, companies may continue using current accounting methods. This could support faster clean energy investment, but may leave gaps in reporting accuracy.

The new rules could take effect as early as next year, making this a near-term decision for global companies.

The push by Apple, Amazon, and other companies highlights a key tension in climate strategy. On one side is the need for accurate, real-time emissions reporting. On the other is the need for flexible systems that support large-scale clean energy investment.

As digital infrastructure expands and energy demand rises, how emissions are measured will matter as much as how they are reduced. The next phase of climate action will depend not just on targets—but on the systems used to track them.

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