Rio Tinto has taken a decisive step toward reshaping the future of copper supply. The mining major announced a strategic collaboration with Amazon Web Services (AWS) that connects breakthrough mining technology with surging demand from data centers and artificial intelligence. Under the agreement, AWS became the first customer of Nuton® Technology following its successful industrial-scale deployment at the Johnson Camp copper mine in the United States.
The deal links cleaner copper production with the digital infrastructure powering the global AI economy.
How AWS Cloud Technology Is Powering Nuton’s Bioleaching Breakthrough
Nuton, a Rio Tinto venture, focuses on nature-based bioleaching technologies designed to extract copper from low-grade and previously uneconomic ores. Last month, the company achieved a major milestone by deploying its proprietary system at an industrial scale at Gunnison Copper’s Johnson Camp mine in Arizona.
Source: Nuton
The press release highlights that under the two-year agreement, AWS will use the first Nuton-produced copper in components across its U.S. data centers. Copper is essential to these facilities, playing a critical role in electrical cables, busbars, transformers, motors, printed circuit boards, and processor heat sinks.
At the same time, AWS will also provide cloud-based data and analytics to support Nuton’s operations. This digital support will speed up process optimization and improve copper recovery.
AWS platforms will simulate heap-leach performance and feed advanced analytics into Nuton’s decision systems. As a result, the company can fine-tune acid and water use. It can also better predict copper recovery.
Significantly, Amazon’s Chief Sustainability Officer Kara Hurst said the company’s net-zero goal for 2040 requires innovation across all operations, including how it sources materials for its infrastructure.
She also noted:
“This collaboration with Nuton Technology represents exactly the kind of breakthrough we need—a fundamentally different approach to copper production that helps reduce carbon emissions and water use. As we continue to invest in next-generation carbon-free energy technology and expand our data centre operations, securing access to lower-carbon materials produced close to home strengthens both our supply chain resilience and our ability to decarbonize at scale.”
Microbe-Driven Copper, Digitally Scaled
Nuton’s modular bioleaching system uses naturally occurring microorganisms to extract copper from primary sulphide ores. Unlike traditional mining methods, the process avoids energy-intensive crushing, concentrating, and smelting.
When combined with digital tools, the technology can scale faster and adapt to different ore bodies. Overall, this approach shortens the path from pilot testing to full production. At the same time, it lowers environmental impact.
Shorter Supply Chains and Cleaner Copper
Additionally, Nuton’s process produces 99.99% pure copper cathode directly at the mine gate. This eliminates the need for concentrators, smelters, and refineries, significantly shortening the mine-to-market supply chain.
Compared with traditional processing routes, Nuton is expected to use substantially less water and generate lower carbon emissions. The system also recovers copper from material previously classified as waste, improving overall resource efficiency.
At Johnson Camp, these benefits are already material. The mine is now the lowest-carbon primary copper producer in the United States on a mine-to-refined-metal basis commonly used by the industry.
Source: Nuton
Verified Low Carbon and Water Footprints
A third-party life cycle assessment confirmed that Nuton copper from Johnson Camp is expected to have a full-scope carbon footprint of 2.82 kg CO₂e per kilogram of copper, covering Scope 1, 2, and 3 emissions. By comparison, global primary copper production typically ranges from about 1.5 to 8.0 kg CO₂e per kilogram, depending on technology and location.
Nuton has also matched 100% of the site’s electricity consumption by purchasing 134,000 Green-e Energy certified renewable energy certificates. Water intensity is expected to be 71 liters per kilogram of copper, well below the global industry average of roughly 130 liters.
Skarn Associates independently validated both the carbon and water intensity data. Additional environmental benefits include lower energy use, on-site clean energy generation, and zero tailings, removing the risk of tailings dam failures.
A Strategic Copper Asset for the United States
Johnson Camp is one of the largest open-pit copper projects in the U.S., with measured and indicated resources of 551 million tons at an average grade of 0.35% copper. At scale, it could supply around 8% of recent annual U.S. domestic copper production.
The project is targeting production of approximately 30,000 tonnes of refined copper over a four-year deployment period. This comes as the U.S. has formally designated copper as a critical mineral due to its importance for energy systems, digital infrastructure, and national security.
IEA and S&P Global Warn of Surging Demand and Supply Risks
The International Energy Agency (IEA) has highlighted that the rapid growth of artificial intelligence is driving a sharp expansion of data centers worldwide. While estimates vary widely, the IEA notes that copper use in data centers could reach 250,000 to 550,000 tonnes by 2030, accounting for up to 12% of global copper demand, depending on how quickly AI adoption accelerates.
Source: IEA
At the same time, a fresh analysis from S&P Global has warned that growth in artificial intelligence, electrification, and defense could push global copper demand up by 50% by 2040. However, without major investment in new mining projects and recycling, supply is expected to fall short.
Source: S&P Global
Yet, as existing copper resources age and ore grades decline, the market could face a 10 million metric ton annual supply shortfall by 2040.
Source: S&P Global
Why the Rio Tinto–AWS Deal Matters
Against this backdrop, the collaboration between Rio Tinto and AWS carries strategic weight. It connects low-carbon copper supply directly with one of the world’s fastest-growing sources of demand. It also shows how digital infrastructure and nature-based mining solutions can work together to reduce emissions while expanding supply.
As AI, electrification, and energy transition pressures continue to build, innovations like Nuton’s bioleaching technology could play a critical role in closing the global copper gap—cleanly, efficiently, and at scale.
To summarize the importance of this deal, Rio Tinto Copper Chief Executive Katie Jackson said,
“This collaboration is a powerful example of how industrial innovation and cloud technology can combine to deliver cleaner, lower-carbon materials at scale. Nuton has already proven its ability to rapidly move from idea to industrial production, and AWS’s data and analytics expertise will help us to accelerate optimisation and verification across operations.
She further added:
“Importantly, by bringing Nuton copper into AWS’s U.S. data-centre supply chain, we’re helping to strengthen domestic resilience and secure the critical materials those facilities need, closer to where they’re used. Together we can supply the copper critical to modern data infrastructure while demonstrating how mining can contribute to more sustainable supply chains.”
Google has agreed to buy nearly 1.2 gigawatts (GW) of carbon-free energy to power its data centers across the United States. The tech company signed a set of long-term power purchase agreements (PPAs) with Clearway Energy Group (Clearway). These deals will deliver clean electricity from new wind and solar projects in Missouri, Texas, and West Virginia.
The energy will support the electric grid regions where Google’s data centers are located. The agreements are a big step for the tech giant. They help meet its rising electricity needs and cut carbon emissions from its operations.
Amanda Peterson Corio, Global Head of Data Center Energy, Google, stated:
“Strengthening the grid by deploying more reliable and clean energy is crucial for supporting the digital infrastructure that businesses and individuals depend on. Our collaboration with Clearway will help power our data centers and the broader economic growth of communities within SPP, ERCOT, and PJM footprints.”
How Google Secures Carbon-Free Power
A Power Purchase Agreement is a long-term contract between a power buyer and a clean energy producer. In Google’s case, these contracts ensure that the projects Clearway builds will sell electricity to the grid. In return, Google pays for the energy produced over many years.
Clearway agreed to provide Google with 1.17 GW of new carbon-free energy. This energy will support regional grids like SPP, ERCOT, and PJM. The total partnership includes a 71.5 megawatt (MW) clean power deal in West Virginia. This brings the total to around 1.24 gigawatts (GW) of clean energy for Google’s use.
These projects will generate wind and solar power and deliver it into U.S. grid systems that serve Google’s data centers. The total investment in the new energy infrastructure tied to these deals exceeds $2.4 billion.
Google’s data center map; Source: Google
Construction for the new wind and solar assets is expected to begin soon, with the first facilities planned to start operations in 2027 and 2028.
The states involved are Missouri, Texas, and West Virginia. These states cover parts of major grid regions like SPP (Southwest Power Pool), ERCOT (Electric Reliability Council of Texas), and PJM Interconnection, which deliver power to millions of customers and data centers.
Why Google Is Investing in Clean Power
Google has set clear climate goals tied to its fast-growing energy use. In 2020, the company became the first major corporation to match 100% of its annual electricity use with renewable energy purchases. This means Google buys enough clean power each year to equal all the electricity its operations consume. However, this approach does not guarantee clean energy at every hour.
Source: Google
To address this gap, Google launched a more ambitious target. The company aims to operate on carbon-free energy, 24 hours a day, 7 days a week, by 2030. This goal goes beyond traditional renewable matching. It requires clean electricity to be available every hour in the same regions where Google uses power. This makes energy sourcing more complex and increases the need for new clean generation near data centers.
Google has also committed to reaching net-zero emissions across its operations and value chain by 2030. This includes direct emissions, purchased electricity, and indirect emissions from suppliers and construction.
The tech company does not plan to rely heavily on carbon offsets for this goal. Instead, it focuses on cutting emissions at the source, mainly by cleaning up the electricity supply.
Progress so far shows both gains and challenges. In 2024, Google reported net emissions of about 18 million metric tons of CO₂-equivalent, up from 14.3 million in 2023. The increase came largely from data center expansion and higher electricity demand from artificial intelligence workloads.
At the same time, Google reduced the carbon intensity of its electricity use by about 12% compared with the previous year. This shows efficiency gains, even as total energy use rose.
Source: Google
Clean energy purchases play a key role in this strategy. By signing long-term power purchase agreements, Google helps bring new wind and solar projects online. These projects add clean power to local grids and lower emissions over time.
The nearly 1.2 GW of carbon-free energy announced for U.S. data centers supports this approach. It increases clean supply in regions where Google’s power demand is growing fastest.
Broader Clean Energy Strategy
Google’s clean energy purchasing strategy goes beyond these 1.2 GW agreements. The company continues to enter renewable contracts around the world. For example:
Google and TotalEnergies signed a 15-year PPA to supply 1.5 terawatt-hours (TWh) of certified renewable electricity from the Montpelier solar farm in Ohio. This power will help support Google’s data centers in that region.
Google is also active in international renewable power agreements. It has signed a 21-year PPA with TotalEnergies. This deal provides 1 TWh of solar power for its data centers in Malaysia.
In India, Google made a deal with ReNew Energy. They will build a 150 MW solar project in Rajasthan. This project will generate about 425,000 MWh of clean electricity each year, which is enough to power more than 360,000 homes.
These deals illustrate how Google is diversifying its clean energy supply by securing multiple sources and technologies across continents.\
Data centers use large amounts of electricity. U.S. data centers’ electricity consumption reached 183 TWh in 2024, accounting for more than 4% of the nation’s total power demand amid surging AI workloads. This marked a continued rise from 176 TWh (4.4%) in 2023. Projections suggest 5% or higher in 2025 as hyperscale facilities expand rapidly.
When powered by fossil fuels, they also produce high carbon emissions. Clean energy purchases help reduce the carbon footprint of these facilities over time.
Source: Google
As data center demand continues to grow, companies like Google are adding new clean power to the grid. Long-term power purchase agreements support the construction of new wind and solar projects. These projects supply clean electricity to regional grids and benefit all users, not only data centers. This helps lower the overall carbon intensity of power systems.
What This Means for Corporate Renewable Leadership
Google’s nearly 1.2 GW clean energy purchase reflects a wider industry shift. Large technology firms are becoming some of the world’s biggest buyers of renewable power. As artificial intelligence and cloud services expand, long-term clean energy contracts help companies secure a stable power supply and manage energy costs.
These corporate agreements also play a key role in the U.S. energy market. Long-term PPAs give developers the financial certainty needed to build new renewable projects. Supported by policy incentives and rising corporate demand, U.S. wind and solar capacity continues to grow. This makes large clean energy portfolios increasingly viable for companies like Google.
The Clearway deal adds to Google’s global portfolio of renewable energy contracts. This portfolio spans multiple regions and energy technologies. By securing large volumes of clean power, Google is strengthening the sustainability of its data centers as digital demand continues to rise.
eBay has released its first Climate Transition Plan, outlining how the company will reduce emissions and reach net‑zero greenhouse gas (GHG) emissions by 2045. The plan covers actions across eBay’s operations and its broader business ecosystem. It also sets near‑term milestones and embeds climate action into corporate governance and planning.
The strategy was validated by the Science Based Targets initiative (SBTi), aligning it with climate science and the Paris Agreement’s 1.5°C goal.
The Climate Transition Plan reflects eBay’s commitment to sustainable commerce. It builds on years of progress in cutting emissions, scaling renewable energy, and driving circular economy practices.
The plan also shows how the company will cut emissions in its operations and value chain. This includes transportation, logistics, and the marketplace. At the same time, it aims to grow its global business.
eBay’s Climate Transition Plan: Sustainable Commerce at the Core
eBay’s Climate Transition Plan is a detailed roadmap for climate action through 2045. It identifies both climate risks and opportunities for the business. The plan focuses on four main areas: sustainable commerce, emissions reduction, governance integration, and value chain collaboration.
Source: eBay
Sustainable Commerce
The plan emphasizes eBay’s circular marketplace model, which extends the life of products and reduces waste. This model supports resale and reuse, helping customers make more sustainable choices. The company has framed this as a way to grow while cutting environmental impact.
Clear Path to Net Zero
eBay has outlined science‑aligned pathways to reach net‑zero GHG emissions by 2045. These pathways include near-term targets for 2030 and long-term goals for 2045. The SBTi validates them to ensure they align with climate science.
Governance and Planning
Climate action is now embedded into how eBay governs and plans its business. The company has strengthened oversight by senior leadership and aligned climate goals with financial planning. eBay says this integration helps ensure climate‑related decisions influence business outcomes.
Value Chain Collaboration
eBay will partner with carriers, suppliers, policymakers, and its buyers and sellers to cut emissions beyond its own operations. The focus is on expanding low-carbon delivery options. It also aims to reduce emissions from shipping and logistics.
eBay’s Net Zero Targets: 2030 Milestones and Beyond
eBay’s climate goals cover both emissions cuts and long‑term net‑zero targets. These goals are science‑based and validated by the Science-Based Targets initiative. This validation shows that the targets match the reductions needed. They aim to keep global warming below 1.5°C above pre-industrial levels, which aligns with the Paris Agreement.
Net‑Zero by 2045:eBay has committed to achieving net‑zero GHG emissions across its entire value chain by 2045. This means cutting total emissions by 90% from 2019 levels. Also, we will use strong, lasting carbon removals to offset any emissions left between 2030 and 2045.
2030 Near‑Term Targets: To support the long‑term net‑zero goal, eBay set interim targets for 2030:
Reduce absolute Scope 1 and 2 emissions by 90% compared with 2019.
Reduce Scope 3 emissions from downstream transportation and distribution by 27.5% compared with 2019.
Progress to Date: eBay has already achieved significant cuts in operational emissions:
Source: eBay
The company has achieved a 92% reduction in Scope 1 and 2 emissions relative to 2019.
It has reached 100% renewable electricity for all offices, data centers, and authentication centers ahead of its original 2025 target.
Source: eBay
Downstream transportation and distribution emissions have fallen 21% compared with 2019, moving toward the 27.5% 2030 target.
These results show that eBay is ahead in some areas and making progress in others as it works toward its future climate goals.
Scope 3 Challenges: The largest portion of eBay’s emissions comes from Scope 3, particularly shipping. Shipping accounts for almost 84% of Scope 3 emissions, making it the toughest category to decarbonize. eBay is focusing on partnerships with carriers and low‑carbon options to reduce these emissions over time.
Source: eBay
eBay’s Broader Sustainability Initiatives
eBay goes beyond reducing greenhouse gases. It takes various sustainability steps that link climate goals to its business strategy.
Renewable Energy
eBay achieved its goal of sourcing 100% renewable energy for its operations in 2024, one year ahead of schedule. This renewable energy covers electricity for offices, data centers, and related facilities.
Circular Economy and Recommerce
eBay focuses on recommerce. This means used and refurbished goods are bought and sold. In 2024, this recommerce activity:
Generated about $5 billion in positive economic impact.
Helped avoid 1.6 million metric tons of carbon emissions.
Prevented 70,000 metric tons of waste. These figures show how extending product life can reduce environmental impact.
eBay aims to build on these results by encouraging resale and reuse as mainstream shopping choices. The company views a circular business model as a climate tool and a way to create value for its users.
Tracking and Transparency
eBay tracks its environmental performance through frameworks like the Task Force on Climate‑Related Financial Disclosures (TCFD). It also takes part in the CDP Corporate Questionnaire.
These actions help ensure the e-commerce’s transparency and accountability in climate reporting.
Leading by Example
eBay’s climate goals align it with other tech and retail companies. They have set science-based net-zero targets and interim reduction goals. For example, other e‑commerce and tech firms like Amazon and Alibaba have also set long‑term climate targets. However, their timelines and scopes differ.
Validating targets through the SBTi adds credibility and aligns eBay with companies that aim to match the most ambitious climate science benchmarks. The SBTi’s validation process makes sure that reduction goals are clear. They follow a framework that aims to keep global temperature rise to 1.5°C.
In addition, eBay’s focus on shipping emissions highlights a common challenge for online retail platforms. Many companies are exploring low-carbon logistics. They are using consolidated delivery, local pickup, and shifting modes, like moving from air to ground transport. These steps help cut supply chain emissions.
Source: eBay
eBay focuses on circular commerce and sustainable logistics in its transition plan. This aligns environmental efforts with business trends that value resource efficiency and low-carbon operations.
Low-Carbon Innovation for the Future
eBay’s Climate Transition Plan sets a clear and science‑based path to net‑zero GHG emissions by 2045. The plan includes near‑term and long‑term targets that have been validated by the Science Based Targets initiative.
The e-commerce company has already achieved major milestones, such as a 92% reduction in direct emissions and 100% renewable electricity by 2024. It also continues to invest in renewable energy, promote reuse and resale, and engage partners to cut emissions across its value chain.
The plan further shows eBay’s goal to include climate action in its strategy, governance, and financial planning. It also illustrates how sustainable commerce and circular economy practices can support long‑term environmental and business goals. As shipping and logistics remain the largest emissions source, future efforts will focus on creative and low‑carbon solutions to meet eBay’s ambitious climate goals by 2045.
Carbon permits in the European Union have recently climbed to their highest levels since August 2023. The rise reflects tighter supply, policy decisions, and shifting market demand under the EU Emissions Trading System (ETS).
The ETS is the world’s largest cap-and-trade system for greenhouse gas emissions. It mandates large emitters to buy allowances for the carbon dioxide they emit. These allowances are known as EU Allowances (EUAs).
EUAs are now trading at a price over €92 per tonne — the strongest level in about 18 months. This rise shows that companies and markets expect fewer allowances to be available in the future as the EU tightens its emissions cap.
What Is the EU Emissions Trading System?
The EU ETS began in 2005 as a tool to reduce greenhouse gas emissions through market forces. It sets a cap on total emissions from major sectors such as power generation, manufacturing, and aviation. Companies must hold enough allowances to cover their emissions each year.
The cap reduces over time, meaning fewer EUAs are issued. This creates scarcity. As allowances become scarcer, their price tends to rise, which increases costs for polluters. In theory, this pushes companies to reduce emissions or invest in cleaner technology.
In 2026, the system also overlaps with the Carbon Border Adjustment Mechanism (CBAM), a tax on imported carbon-intensive goods. CBAM began to apply in January 2026 and makes carbon costs visible on imports like steel and cement. The measure aims to cut down on “carbon leakage.” This happens when industries move production to areas with cheaper carbon prices.
Recent Price Moves: Highest Since August 2023
In early January 2026, EU carbon permits climbed as high as about €91.82 per tonne on EU markets, up from lower levels earlier in 2025. Now, it’s trading at over €92 per tonne, showing 27% increase from January 2025 prices. The rise represents a fourth consecutive weekly gain in allowances for the December 2026 contract.
Data source: TradingEconomics
The price rise reflects tightening supply — fewer allowances are available through auctions and free allocations. Reduced supply increases competition among companies that must surrender EUAs to match their emissions. This dynamic pushes the price higher.
Market analysts also note that colder weather and more heating needs in winter often boost industrial energy demand. This can lead to higher carbon prices during the season.
Why Prices Have Risen?
The recent uptick in EU carbon prices is driven by several key factors:
Reduced Supply of Allowances:
The EU continues to tighten its emissions cap and reduce the number of new allowances issued. Estimates from the European Exchange auction calendar and Market Stability Reserve show that auction volumes will drop. They are expected to fall from about 588.7 million EU Allowances in 2025 to around 482.4 million in 2026. A stronger cap reduces the total pool of tradable EUAs, creating scarcity and upward pressure on prices.
Policy Signals and Reform Expectations:
Investors and companies anticipate future regulatory tightening. The EU’s long-term climate goals include cutting net emissions by 90% by 2040 compared with 1990 levels. Such policy signals can strengthen confidence that carbon costs will rise further.
Market Confidence and Funds:
Investment funds have increased their holdings of EU carbon futures. Trading positions and speculation can also influence price momentum, especially as market sentiment shifts toward tighter futures.
Compliance Demand:
Industries covered by the ETS are required to surrender allowances to match their emissions by compliance deadlines. As deadlines near, buying activity can increase, adding short-term upward pressure on prices.
Carbon Border Adjustment Mechanism:
With CBAM now active, imported products from outside the EU face carbon costs similar to domestic industries. This mechanism can reduce free allowance allocations and tighten supply further.
Looking Back and Ahead: Carbon Price Trends and Forecasts
Carbon prices in the EU ETS have fluctuated over recent years. Prices surged above €100 per tonne in early 2023. Then, they eased back in 2024 and 2025. This decline was due to shifting market conditions and wider economic factors.
In 2024, the average price of EU ETS carbon permits was around €65 per tonne, down from €84 per tonne the year before. High prices in 2023 reflected strong policy signals from the Fit for 55 climate package and global energy disruptions.
Looking ahead, analysts and forecast models expect prices to continue rising over the coming decade:
A survey of market participants predicts that the average EU ETS carbon price will rise to almost €100 per tonne from 2026 to 2030. This increase will happen as demand exceeds supply.
Energy market analysts predict that the average price could hit about €126 per tonne by 2030. This rise is due to stricter caps and wider emission coverage.
Under the EU ETS II framework, starting in 2027, more sectors will be included, like buildings and transport. In some scenarios, prices might average €99 per tonne from 2027 to 2030.
BNEF’s EU ETS II Market Outlook projects carbon prices reaching €149 per metric ton ($156/t) by 2030, driving substantial emissions reductions.
Source: BNEF
Overall, these forward estimates imply that allowance prices may continue to rise as the EU strengthens its emissions targets to meet climate goals.
Emissions Reductions Under the ETS
The EU ETS has contributed to measurable emissions reductions. In 2024, emissions under the system were roughly 50% lower than in 2005. This progress is set to help the EU meet its 2030 goal of a 62% reduction from 2005 levels. The decline was driven mainly by cuts in the power sector, with increased renewable energy and a shift away from coal and gas.
Renewable energy growth, including wind and solar, played a role. Increases in renewables helped lower emissions by reducing reliance on fossil fuels.
The drop in emissions may lead to higher demand for allowances in the long run. With fewer emissions, companies will need more allowances to meet the cap.
Higher carbon prices affect the European economy in many ways. For polluting industries, rising carbon costs increase operating expenses. Companies may invest more in cleaner technologies to reduce their allowance needs. This can accelerate decarbonization technology adoption.
Policy makers face the challenge of balancing climate goals with economic competitiveness. Some EU governments, like France, want price limits in the ETS. This could stop big swings in carbon costs. It would also help industries plan better.
The Market Stability Reserve (MSR), a mechanism to absorb excess allowances, also plays a role. It intends to reduce surplus permits and stabilize prices. Combined with the tightening cap, the MSR tends to push prices higher over time.
The ETS’s expansion to include more sectors — such as maritime transport and potentially buildings and road transport under EU ETS II — expands the share of emissions subject to carbon pricing. This broadening can further tighten supply and push prices up.
Why EU Carbon Prices Matter Beyond Europe
The EU ETS remains the largest carbon market in the world. According to global carbon pricing data, carbon pricing instruments currently cover about 28% of global greenhouse gas emissions, up from about 24% previously. The EU’s system is a key driver of this trend.
Source: World Bank Report
Many national and regional carbon markets have prices much lower than the EU’s. This shows differences in climate policies and economic situations. The ETS’s tightening emissions cap, reduced auction volumes, and shifting market sentiment all play roles in supporting higher carbon prices.
Forecasts suggest that prices may continue upward in the years to come, potentially averaging over €100 per tonne by the end of the decade. Meanwhile, the ETS continues to help reduce emissions in key sectors and supports the EU’s broader climate targets.
These price trends and policy developments make the EU carbon market a central piece of Europe’s climate strategy and an important bellwether for global carbon pricing efforts.
BMW widened its lead over Mercedes-Benz in the global electric vehicle market in 2025, selling more than 2.5 times as many fully electric cars as its longtime German rival. The growing gap highlights not only BMW’s strong execution but also the mounting pressure on Mercedes-Benz to reset its EV strategy amid weak demand and regional headwinds.
While both automakers faced a challenging macro environment, their electric vehicle performance moved in sharply different directions. BMW accelerated, especially in Europe. Mercedes, by contrast, lost momentum in key markets such as China and North America, forcing difficult product and portfolio decisions.
BMW’s EV Strategy Delivers Scale and Stability
BMW ended 2025 with 442,072 fully electric vehicle deliveries, including more than 105,000 electric Minis, marking a 3.6% increase from the previous year. Over the same period, Mercedes delivered 168,800 battery-electric vehicles, a 9% year-on-year decline. The contrast underscored BMW’s growing dominance in the premium EV segment.
More broadly, the BMW Group delivered 2.46 million vehicles across all powertrains in 2025, slightly higher than the previous year.
Electrified vehicles—including plug-in hybrids—reached 642,087 units, up 8.3%, and accounted for 26% of total group sales. This balance between combustion engines, hybrids, and EVs continued to shield BMW from abrupt demand swings.
BMW executives described electrified models as the company’s strongest growth driver. Demand proved especially resilient in Europe, where supportive regulations, charging infrastructure, and consumer incentives remained relatively stable compared to other regions.
Source: BMW
Jochen Goller, member of the Board of Management of BMW AG, responsible for Customer, Brands, Sales, said,
“In 2025, in a challenging environment, the BMW Group sold more vehicles than in the previous year. Our electrified vehicles were in particularly high demand. Europe reported especially strong growth, with battery-electric vehicles accounting for about a quarter of total sales, and BEVs and PHEVs combined reaching a share of over 40% across the region. We remain fully on track to meet our EU CO₂ fleet target for 2025.
Europe Anchors BMW’s Electric Momentum
Europe emerged as the backbone of BMW’s electric success in 2025. Fully electric deliveries surged 28.2% across the region, with battery-electric vehicles representing roughly one-quarter of BMW’s total European sales. When plug-in hybrids are included, electrified vehicles exceeded 40% of sales in several major markets.
This performance also helped BMW stay on track to meet its EU fleet CO₂ targets, a growing priority as emissions rules tighten further later this decade. The company’s ability to scale EV sales without sacrificing profitability reinforced confidence in its multi-powertrain strategy.
Meanwhile, BMW’s British subsidiary Mini reached a notable milestone. The brand delivered its 100,000th fully electric Mini, and more than one in three Minis sold in 2025 featured a battery-electric drivetrain. This success demonstrated that smaller, urban-focused EVs continue to resonate strongly with European buyers.
Warning Signs Emerge in the U.S. Market
Despite strong annual results, BMW’s fourth-quarter performance revealed emerging challenges. Global EV deliveries fell 10.5% year over year in the final quarter, reflecting broader softness in consumer demand.
The United States stood out as a weak spot. BMW’s BEV sales in the U.S. plunged 45.5% in Q4, falling to just 7,557 vehicles. For the full year, U.S. electric deliveries dropped 16.7%, underscoring the impact of high interest rates, uneven incentives, and lingering infrastructure concerns.
Even so, BMW’s diversified geographic exposure helped offset U.S. weakness. Strong European demand and early interest in upcoming models provided confidence heading into 2026.
Source: BMW
Neue Klasse Signals BMW’s Next Growth Phase
BMW’s outlook received an additional boost from early demand for its upcoming Neue Klasse platform. The first modern model under this architecture, the electric iX3, generated strong initial orders across Europe.
In fact, customer reservations already cover nearly all of BMW’s planned European production for the model in 2026. The Neue Klasse platform is central to BMW’s long-term strategy, combining new battery technology, improved efficiency, and a software-first vehicle architecture.
By 2027, BMW expects to launch or update more than 40 models across various drive options, reinforcing its belief that flexibility—not a single-technology bet—offers the safest path through an uncertain transition.
In this context, Goller further noted,
“Especially in Europe, 2026 will be marked by the NEUE KLASSE. At the same time, we will be introducing several new models this year, such as the BMW X5, BMW 3 Series, and BMW 7 Series. In total, the BMW Group will launch more than 40 new and revised vehicles with various drive options by 2027.”
Mercedes-Benz entered 2025 under pressure, and conditions worsened as the year progressed. Global car sales fell 8% in the first nine months, with particularly sharp declines in China (-27%) and North America (-17%). Trade tensions and tariffs further complicated the picture.
The car maker delivered 168,800 BEVs, down 9%. Mercedes achieved higher total electrified sales, including plug-in hybrids (PHEVs), at 368,600 units, flat year-over-year.
Source: Mercedes
In the United States, Mercedes paused orders for its EQS and EQE sedans and SUVs mid-year, citing unfavorable market conditions. As per reports, customer feedback highlighted design concerns and price sensitivity, particularly as competitors introduced newer platforms and faster charging capabilities.
As a result, Mercedes decided to phase out the EQE sedan and SUV by 2026, only four years after launch. The move marked a rare admission that parts of its first-generation EV strategy failed to connect with buyers.
Mercedes Bets on a Reset, Not a Retreat
Rather than scaling back electrification, Mercedes is attempting a reset. The company plans an aggressive product offensive, with 18 new or refreshed models in 2026 alone and 25 new models globally over three years.
However, Merc’s electric CLA boosted demand. It’s a new 800-volt EV architecture, starting with the upcoming electric CLA and GLC. Mercedes claims the new CLA can add up to 325 kilometers of range in just 10 minutes, with charging speeds reaching 320 kW. The company hopes these improvements will directly address earlier criticisms around charging and efficiency.
CEO Ola Källenius has described the coming period as the most intense launch cycle in Mercedes’ history. Still, execution risks remain high, particularly as competition intensifies and EV demand growth moderates in some markets.
Beyond sales volumes, sustainability strategies increasingly shape long-term competitiveness. BMW continues to position electrification as the biggest lever for emissions reductions while maintaining optionality across technologies, including hydrogen and efficient combustion engines.
The company aims to cut CO₂e emissions across its value chain by 90% by 2050, using 2019 as a baseline. Interim targets include a 40 million-ton reduction by 2030 and a 60 million-ton reductionby 2035. BMW has already mandated renewable energy use across its battery supply chain and sourcing contracts, including Tier-n suppliers.
Mercedes, meanwhile, is pursuing its “Ambition 2039” plan, targeting a net carbon-neutral new vehicle fleet across the full lifecycle. The company plans to reduce CO₂ emissions per passenger car by up to 50% within the next decade, while increasing renewable energy use in production to 100% by 2039.
Both automakers recognize that as EV adoption rises, emissions reductions must increasingly come from manufacturing and supply chains, not just vehicle usage.
By the end of 2025, BMW had clearly established itself as the premium EV leader among Germany’s luxury brands. Its combination of steady electrification, regional balance, and early success with next-generation platforms set it apart.
Mercedes, however, is not conceding the race. Its upcoming models and platform overhaul could still narrow the gap, especially if global EV demand rebounds. For now, though, BMW’s lead remains firmly intact—and the pressure on Stuttgart continues to build.
Disseminated on behalf of Surge Battery Metals Inc.
The global race for electric vehicles (EVs) and renewable energy storage is accelerating fast. But beyond the hype around resource discoveries, a quieter and more critical race is taking shape, the race for lithium purity. While many lithium developers highlight their large deposits, what truly matters to EV and battery manufacturers is the ability to deliver ultra-pure, battery-grade lithium.
Surge Battery Metals (TSXV: NILI, OTC: NILIF) is emerging as a leader in this next phase of the lithium story. The company is not just measuring tons in the ground, it is proving its ability to produce 99% pure lithium carbonate, the key ingredient for advanced EV batteries. With its Nevada North Lithium Project (NNLP), NILI is positioning itself to supply premium-quality lithium directly to top-tier EV and energy storage manufacturers.
The company also achieved a significant milestone this September. It signed an LOI with Evolution Mining (ASX: EVN) to form a joint venture at NNLP. Under the agreement, Surge retains 77% and Evolution starts with 23%, funding up to C$10 million for the Preliminary Feasibility Study. This investment could increase Evolution’s stake to 32.5%, while Surge remains as project manager.
In addition, Evolution contributes 75% of its mineral rights on 880 acres of private land, plus 21,000 more acres of highly prospective ground. This significantly expands the project’s footprint.
Moving forward, the JV will focus on advancing the Pre-Feasibility Study, building directly on the strong 2025 PEA results and setting the stage for the next development phase.
Why Purity Matters: The Technical Case for 99%
In the battery industry, purity is more than a technical specification—it defines performance and reliability. EV manufacturers and battery cell producers require lithium carbonate and hydroxide of exceptionally high quality, as even minor impurities can affect efficiency, safety, and longevity.
Even trace amounts of iron, magnesium, or boron can cause major problems. These impurities shorten battery life, reduce energy density, and increase safety risks. As automakers shift to more advanced chemistries like NMC (nickel-manganese-cobalt) and solid-state batteries, the demand for cleaner, high-spec lithium becomes non-negotiable. However, NMC batteries had a drawback. They depended on costly and volatile metals like nickel and cobalt.
And thus, LFP batteries emerged as a game-changer.
LFP, or lithium iron phosphate batteries, remove nickel and cobalt entirely, using iron and phosphate instead. These materials are cheaper, safer, and easier to source. LFP batteries also last longer, charge faster, and handle heat better, making them ideal for affordable, large-scale EV production.
In 2022, LFP accounted for 37% of global EV battery chemistry. By 2024, it reached nearly 50%, and the trend continues.
Source: Katusa Research
For lithium investors, this matters. LFP relies heavily on lithium carbonate, the purest, most in-demand form of lithium. With nickel and cobalt out, lithium becomes central, tightening markets as more EV makers adopt LFP
High-purity lithium does more than meet technical standards. It also commands higher prices and long-term supply contracts. Automakers and energy storage providers prefer suppliers who can consistently deliver premium-quality lithium while maintaining environmental responsibility. For them, reliability, repeatability, and sustainability are just as important as cost.
The Nevada North Lithium Project: Scale with Substance
NILI’s flagship Nevada North Lithium Project (NNLP) combines resource scale with exceptional quality. Located in Nevada, a region known for its lithium-rich claystone deposits, NNLP has an inferred resource of 8.65 million tonnes of lithium carbonate equivalent (LCE), grading 2,955 ppm lithium at a 1,250 ppm cutoff.
These numbers put it among the most promising new lithium projects in North America. But NILI’s true edge comes from its ability to turn that resource into battery-grade lithium carbonate. Laboratory and pilot-scale metallurgical tests have already confirmed purity levels at or above 99%, exceeding typical chemical-grade standards.
According to the company’s Preliminary Economic Assessment (PEA), completed by M3 Engineering & Technology and Independent Mining Consultants, the project is designed for scale and efficiency.
Key highlights include:
Annual output: 86,300 tonnes of LCE, expandable to 109,100 tonnes at full production.
Recovery rate: Averaging 82.8%, thanks to advanced leaching and purification processes.
Operating cost: As low as $5,097 per tonne LCE, ensuring competitive margins.
Mine life: Estimated at 42 years, based on a conventional open-pit operation.
This combination of high-grade resource and proven processing ability gives NNLP a powerful advantage in a market shifting toward quality over quantity.
Inside NILI’s Metallurgical Advantage
Metallurgical testing is where NILI truly sets itself apart. Turning claystone into battery-grade lithium requires technical mastery and process control. Surge’s team has developed a refined purification flowsheet tailored to Nevada’s unique claystone composition.
Recent pilot-scale trials achieved lithium carbonate purity of 99%, meeting or exceeding international benchmarks. These tests also showed strong impurity control, particularly for metals like iron and boron, which are critical for EV battery safety.
Mr. Greg Reimer, Chief Executive Officer, and Director commented,
“Beyond our initial metallurgical and analytical works in 2023 to estimate acid consumption and identify the clay types, we are very pleased to have taken the next step and have passed the important ‘proof of concept’ trial showing that the clays of our Nevada North Lithium Project can be used to produce lithium carbonate exceeding 99% purity. In doing so, we have managed the technological risk sufficient to warrant the next step, which will include upsizing the laboratory trials to build a sufficient inventory of technical grade lithium carbonate that we can purify to demonstrate if the NNLP clay is a suitable source to produce battery-grade lithium carbonate.”
NILI’s process is both efficient and sustainable. By optimizing reagent use and reducing energy consumption, the company supports strong environmental, social, and governance (ESG) goals while keeping costs low.
A Step-by-Step Look at NILI’s Lithium Purification
Here’s a simplified look at NILI’s five-step purification process that converts raw claystone into 99% pure lithium carbonate:
Ore Preparation and Leaching: The lithium-rich claystone is mined, milled, and treated with acid to dissolve lithium from the rock.
Solid-Liquid Separation: The resulting slurry is filtered to isolate a lithium-rich solution from unwanted solids.
Selective Impurity Removal: Using precipitation, ion-exchange, and solvent extraction, key impurities like magnesium, calcium, and boron are removed.
Lithium Carbonate Precipitation: The purified solution reacts with carbonate sources such as soda ash to form lithium carbonate crystals.
Final Polishing and Quality Control: The crystals are dried, rechecked for purity, and recirculated if needed to achieve consistent 99% results.
This closed-loop design maximizes recovery while minimizing waste, an important feature for both efficiency and sustainability.
Source: Surge Battery Metals
Commercial Significance: Why OEMs Are Watching Closely
As the lithium market evolves, a clear divide is forming. Companies capable of producing high-purity, battery-grade material are securing premium contracts and long-term partnerships. Others producing lower-grade lithium face downward pricing pressure and limited buyers.
Energy Storage Systems (ESS) are now becoming a major swing factor in lithium demand. After what looked like a soft stretch for lithium prices, ESS battery shipments have shown massive growth year-to-date. Updated J.P. Morgan forecasts increased ESS shipments +50% for this year and +43% for next year, with ESS now projected to represent 30% of total lithium demand by 2026, rising to 36% by 2030.
By 2030, total lithium demand is expected to reach ~2.8 Mt LCE, aligning with the consensus range referenced by Albemarle. Meanwhile, global EV demand is forecast to grow 3–5% annually between 2025–2030 — making ESS the category that prevents a persistent market surplus and tightens supply.
Source: Lithium Harvest
At the same time, the company aligns with North American supply chain goals, offering secure, ESG-compliant lithium production close to home. With the U.S. and Canadian governments pushing for “friendshoring” of strategic minerals, NILI’s Nevada-based project fits perfectly into the policy framework for domestic critical mineral supply.
Source: Katusa Research
By focusing on purity and process control, NILI aims not only to sell lithium but to become a trusted technology and supply chain partner for OEMs seeking quality assurance and long-term reliability.
For Investors: Why Processing Capability Matters
For investors, NILI’s story goes beyond having a large lithium deposit. The real value lies in its processing expertise. Producing 99% battery-grade lithium at a commercial scale requires deep technical know-how, efficient design, and capital discipline.
NILI’s PEA shows impressive financial metrics:
After-tax NPV: US$9.21 billion (at 8% discount).
Internal Rate of Return (IRR): 22.8%.
Payback period: Less than five years.
High operating margins, supported by strong resource grades and cost-effective processing.
These numbers underline a vital message: processing quality drives profitability. Investors looking for long-term exposure to the clean energy transition should note that companies capable of producing high-purity lithium will capture premium market share and valuation upside.
The Purity Premium in the Lithium Race
As the global energy transition speeds up, success will depend not just on who can find lithium but on who can refine it to perfection. Surge Battery Metals is proving it can deliver battery-grade lithium carbonate with 99% purity, meeting the toughest technical and commercial standards in the industry.
And that is a powerful differentiator for investors. NILI’s combination of resource scale, refining precision, and strategic positioning in Nevada gives it a strong foundation to become a leading supplier to the North American EV and energy storage markets.
In the new lithium economy, purity equals power, and NILI is setting the benchmark for both.
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 $50,000 to provide marketing services for a term of two 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.
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The battle between OpenAI’s ChatGPT and Google’s Gemini is one of the most talked-about stories in technology today. These two artificial intelligence (AI) chatbots dominate the market for generative AI tools. They power smart responses, summaries, writing help, and more.
As users and businesses rely on AI more, questions about market competition and environmental impacts have grown. This article compares the two leaders in terms of market share, energy use, carbon footprint, and water consumption to give a clear picture of where the AI landscape stands in 2026.
Market Share: Where ChatGPT and Gemini Stand
As of early 2026, ChatGPT still leads the AI chatbot market. ChatGPT has around 68% of the market share based on visits and user interactions. This is less than its previous dominance.
In comparison, Google Gemini accounts for about 18.2% of the market share, showing rapid growth over the past year. This shift marks a major change in how users choose AI tools worldwide.
ChatGPT has maintained a large user base with around 800-900 million weekly active users and billions of monthly visits. But Gemini is also growing fast. Its user numbers have increased as Google adds it to more services.
Other AI platforms, such as DeepSeek, Grok, Perplexity, and Claude, hold smaller shares of the market but are growing in niche areas. ChatGPT and Gemini lead the global chatbot market. This shows a duopoly trend, with two main players in control.
The market positions of ChatGPT and Gemini reflect their different strategies. OpenAI built ChatGPT as a standalone AI platform with powerful language skills. It became popular early and gained millions of users quickly.
Google, meanwhile, embedded Gemini into search engines, Android devices, and other Google apps. This gives Gemini a wide reach, helping it grow faster in recent years as users encounter it automatically.
For users, this means choice. Some prefer ChatGPT’s deep text-generation and creative outputs. Others choose Gemini for quick answers tied to search and Android use.
As both platforms grow, competition will likely push innovation in AI quality, safety, and usefulness. And for climate-conscious and environmentalists, this means taking a closer look at the platforms’ growing energy use, carbon emissions, and water use.
AI’s Energy Footprint: Data Centers and Electricity
As AI use expands rapidly, the energy footprint of the technology has become an important topic. AI models like ChatGPT and Gemini run on large networks of servers housed in data centers. These facilities use electricity to power computing tasks and to keep equipment cool.
In 2024, data centers used around 415 terawatt-hours (TWh) of electricity. This is about 1.5% of the world’s total electricity consumption. AI workloads are a growing part of this total.
The International Energy Agency predicts that data center electricity use may double to around 945 TWh by 2030.
This increase comes as AI and other digital services grow. Another research shows the same trend:
AI electricity use varies by task. Training large models—such as initial versions of GPT and other deep learning systems—can consume very large amounts of power. For example, training early large language models used tens of gigawatt-hours of electricity.
Running the model for user queries (called inference) uses much less energy per request but occurs far more frequently.
In a direct comparison of per-prompt energy use, Google found that a typical Gemini text prompt consumes about 0.24 watt-hours (Wh) of electricity. This is roughly equivalent to the energy used by a small household device running for a few seconds.
ChatGPT queries, on the other hand, use about 0.34 Wh of electricity. That’s similar to running a lightbulb for a short time. This makes per-query energy costs relatively low but still significant when scaled to billions of daily uses. Over time, improvements in hardware and software have greatly reduced energy and carbon use per prompt.
Carbon emissions from AI are tied closely to electricity use. Where the electricity comes from—renewable sources versus fossil fuels—greatly affects emissions. Data centers powered by coal or gas produce more carbon than those using wind, solar or hydroelectric power.
Global AI and data centers are currently responsible for a small but growing share of carbon emissions. Combined data center emissions contribute to the broader trend of digital technologies impacting climate change.
Projections show that by 2035, AI’s carbon footprint may vary greatly. This depends on future energy mixes and how AI is deployed. Estimates suggest possible annual emissions ranging from 300 to 500 million tonnes of CO₂ by the mid-2030s. The exact share attributable to AI specifically will vary based on how much AI workloads grow within overall data center use.
ChatGPT and Google’s Gemini differ in their carbon footprints per query. A typical ChatGPT query generates about 0.15 grams of CO₂ per text prompt. In comparison, a typical Google Gemini query emits around 0.03 grams of CO₂ per prompt. This means Gemini’s per-query carbon footprint is about five times lower than ChatGPT’s based on current estimates.
Source: Google
Both companies promise to cut carbon intensity. They plan to do this by improving data center efficiency, buying renewable energy, and upgrading hardware.
For example, Google reported dramatic reductions in energy and carbon footprints for Gemini queries over a one-year period due to efficiency gains and cleaner energy sourcing.
Water consumption is another environmental concern for AI because data centers use water for cooling. Keeping servers cool in large facilities often requires water-cooled systems, especially in warmer climates.
Global AI-related water withdrawal has been rising. Estimates suggest that AI data centers might use 4.2–6.6 billion cubic meters per year by 2027, which is equivalent to 4.2–6.6 billion tonnes of water. This amount is similar to the yearly water use of medium-sized countries.
At the individual query level, water use is very small. For example, OpenAI’s CEO has stated that a single ChatGPT query uses about 0.000085 gallons of water (or ~0.32 ml)—a tiny amount comparable to a few drops. But at scale, with billions of queries each day, total water demand becomes significant in the context of data center cooling systems.
Google’s data reveals that a typical Gemini text prompt uses about 0.26 milliliters of water. That’s about the same as a few drops, considering data center operations.
The Bigger Picture: AI’s Environmental Footprint
AI’s environmental footprint extends beyond individual models and queries. Data centers are expanding rapidly because of increased AI adoption and other online services. Data center electricity use might reach almost 3% of global demand by 2030. This growth highlights the importance of sustainable practices in the tech industry.
While per-query energy and carbon figures can seem small, the aggregate impact of billions of daily AI interactions adds up. Power use and cooling needs can stress local energy grids and water supplies. This happens if companies don’t use renewable sources and efficient technologies.
Major tech companies have made public commitments to use renewable energy and improve energy efficiency at data centers. Experts say that real transparency in environmental impacts needs better reporting. It also requires standardized metrics throughout the AI industry.
So, Who Wins the AI Race?
In the AI chatbot market, ChatGPT continues to lead with about 68% market share in 2026, while Google’s Gemini holds approximately 18.2% and is growing fast. Their competition reflects differences in strategy, reach, and integration into broader technology ecosystems.
On environmental performance, both AI systems contribute to energy use, carbon emissions, and water consumption through data centers. Per-query measurements such as 0.24–0.30 Wh of electricity and tiny amounts of water per request show that individual impacts are small.
However, the aggregate resource use of running AI at scale is significant and growing. Global demand for electricity in data centers is expected to rise sharply by 2030. Water use might also increase as AI adoption expands.
Understanding these footprints and market dynamics helps users, developers, and policymakers see the costs and benefits of AI. AI tools like ChatGPT and Gemini will keep changing tech markets. They will also influence talks about sustainability in our digital world.
Bain & Company and Oxy’s 1PointFive announced a new agreement for direct air capture carbon removal credits. Under the deal, Bain & Company will purchase 9,000 metric tons of carbon dioxide removal (CDR) credits over three years. The credits will come from direct air capture (DAC) technology developed by 1PointFive at its large STRATOS facility in Texas.
This deal marks an important step in how companies address climate change by removing carbon dioxide (CO₂) directly from the air. It also highlights the increasing importance of advanced technologies that pull CO₂ from the air and store it permanently.
How DAC Removes CO₂ from the Atmosphere
Direct Air Capture is a type of technology that pulls CO₂ out of the atmosphere. A machine uses fans and chemical processes to separate CO₂ from the air. Once CO₂ is removed, it is compressed and stored so that it will not return to the atmosphere. This process is a form of carbon dioxide removal that targets emissions already in the air, rather than preventing new emissions at the source.
The CO₂ captured by DAC can be stored deep underground in rock formations. This process is called geologic sequestration. It is one of the most secure ways to keep CO₂ out of the atmosphere for long periods of time.
Direct air capture differs from other carbon strategies like energy efficiency, renewable energy, or planting trees. DAC can take out carbon that’s already in the air. The technology focuses on removing existing carbon, unlike other methods that reduce future emissions or naturally capture some carbon. This helps address what scientists call “hard-to-abate” emissions.
Inside the Bain & Company Carbon Removal Agreement
Bain & Company has taken a significant step in its climate strategy through a new agreement with 1PointFive. This is Bain’s first purchase of carbon removal credits from direct air capture technology, which shows its increasing commitment to innovative carbon solutions.
Key points of the agreement include:
Total Credits: 9,000 metric tons of CO₂ to be removed.
Timeframe: Delivered over three years.
First DAC Purchase: Bain’s initial engagement with direct air capture technology for carbon removal.
Climate Strategy Alignment: Supports Bain’s goal to maintain a net-negative carbon impact each year.
Emissions Offset Visualization: The 9,000 metric tons of CO₂ are equivalent to the emissions from about 10,000 long-haul round-trip flights for one economy-class passenger.
Sam Israelit, Bain’s Chief Sustainability Officer, said:
“We are proud to partner with 1PointFive and add them to our portfolio of engineered carbon removal technologies. Their track record for developing DAC technology coupled with their deep understanding of what it takes to deliver large-scale infrastructure projects uniquely positions them to be a leader in this emerging segment.”
STRATOS and the Scale-Up of Engineered Carbon Removal
1PointFive is a carbon capture, utilization, and sequestration (CCUS) company. It is a subsidiary of Occidental Petroleum (Oxy). 1PointFive aims to scale direct air capture tech. This will help remove CO₂ from the atmosphere at commercial levels.
The carbon credits that Bain will purchase are produced by the STRATOS facility. This plant is a large DAC installation in Ector County, Texas. Once fully operational, STRATOS is expected to be one of the largest DAC facilities in the world. It is designed to remove up to 500,000 metric tons of CO₂ per year when fully running.
STRATOS is still in a start-up phase. It hasn’t started full commercial operations yet. However, it’s moving through initial testing and ramp-up activities.
The CO₂ captured at the DAC facility will be stored underground through geologic sequestration. This means the carbon will be injected into deep rock formations where it stays permanently.
Why Carbon Removal Credits Are Gaining Corporate Attention
Carbon removal credits are becoming more important for businesses. Each credit shows that one metric ton of CO₂ has been removed from the air and stored safely. Companies can buy these credits to offset emissions they cannot reduce through normal operations.
Offset emissions: Helps companies balance emissions they cannot cut directly.
Supports climate goals: Companies can invest in removal technologies while aiming for net-zero or net-negative targets.
Long-term impact: Credits help firms create lasting, innovative ways to cut atmospheric carbon. Direct air capture is one such technology that grows in use as firms seek durable solutions.
Source: AlliedOffsets
CDR purchases are growing by 750% from 2022 to 2023, and 2024 volumes are exceeding prior years. Analysts project the CDR market could expand from about $3.4 billion in 2024 to $25 billion by 2029.
Durable engineered CDR credits, including DAC, alone may generate over $14 billion by 2035. By 2030, annual demand for durable CDR credits could reach up to 100 million tonnes of CO₂ because of corporate climate targets and emerging policies.
Source: McKinsey & Company
By buying removal credits, companies can manage their carbon footprint while investing in climate technologies that have a real, measurable effect on the atmosphere.
What This Means for Bain & Company’s Climate Goals
For Bain & Company, this agreement aligns with its established climate commitments: net zero across value chains by 2050. Bain has pledged to maintain a net-negative carbon footprint annually.
Near-term target (2026) vs Long-term (2050), Source: Bain & Company
To achieve this, it aims to reduce emissions and invest in credible carbon removal solutions. The 9,000 metric tons of direct air capture credits will help offset Bain’s leftover operational emissions. These emissions are what remain after all possible reductions.
The company has invested in high-integrity carbon removal credits before. They have supported over 1.1 million metric tons of removal credits from different technologies in the last five years. This indicates Bain’s long-term engagement with carbon removal beyond this new agreement.
By adding DAC-enabled credits from STRATOS, Bain aligns its portfolio with advanced engineered removal methods. These methods are often seen as more durable and reliable in the long run than some natural removal methods.
A Signal for the Carbon Removal Market
The market for carbon removal and carbon credits has grown rapidly. Companies from many industries are purchasing removal credits as part of climate strategies.
In 2023 and 2025, 1PointFive made deals with big companies to buy carbon removal credits. These include deals with major firms such as Amazon and JPMorgan Chase for 250,000 and 50,000 metric tons of CDR credits, respectively. These deals show the rising global interest in DAC-enabled carbon removal.
Carbon removal credits also play a role in voluntary carbon markets. These markets allow companies to buy credits to offset emissions beyond regulatory requirements. As more firms commit to climate goals, demand for high-quality removal credits grows.
The Future of Direct Air Capture and Carbon Removal Credits
The agreement between 1PointFive and Bain & Company reflects a broader trend in climate action. More businesses are using tech-driven carbon removal in their climate plans. As DAC projects like STRATOS scale up, removal credits may become more widely available and standardized.
As companies build portfolios of carbon removal credits, technologies like DAC may play a larger role in global efforts to limit climate change. Experts believe that removing CO₂ from the atmosphere will be necessary alongside rapid emission cuts to meet climate goals.
A boom in DAC credit agreements like the 1PointFive and Bain & Company’s deal may reflect this emerging reality. As the world faces the challenge of reducing atmospheric CO₂ levels, partnerships like this show how the private sector can contribute to climate mitigation through innovative technology and long-term strategies.
Microsoft has agreed to buy 2 million carbon removal credits from a forestry project in Northern Uganda. The credits come from the Kijani Forestry Smallholder Farmer Forestry Project. They will be delivered over about 9 years under a wider agreement with Rubicon Carbon. The deal supports Microsoft’s plan to cut its carbon footprint and invest in nature-based climate solutions.
These credits are known as Afforestation, Reforestation, and Revegetation (ARR) credits. They represent carbon that has been removed from the atmosphere and stored in trees and forests. This type of credit helps fight climate change while also supporting local farmers.
Phillip Goodman, Director of Carbon Removal at Microsoft, said:
“We are pleased to support Kijani’s work in strengthening farmer livelihoods while restoring ecosystems in Northern Uganda. The framework with Rubicon Carbon streamlines the contracting process, while ensuring project quality and unlocking financing for nature-based removals.”
Trees as Carbon Banks: The Uganda Deal
The Smallholder Farmer Forestry Project in Northern Uganda works with more than 50,000 smallholder farmers. Together, they plant and manage woodlots on land that was previously degraded. By early 2026, the project had planted over 30 million trees with the help of local growers.
Under the agreement, Microsoft will receive 2 million ARR carbon removal credits from the project. Rubicon Carbon could supply Microsoft with up to 18 million tonnes of high-quality carbon removal credits by 2035.
The Uganda forestry project is one of the first approved under Uganda’s Climate Change Mechanisms Regulations. This gives it official local recognition. Credits will be given as trees grow and take in carbon, following a science-based method to measure and verify results.
How Carbon Credits Work
Carbon credits represent measured reductions in greenhouse gas emissions or the removal of carbon from the air. One carbon credit usually equals one metric ton of carbon dioxide equivalent (CO₂e). In forest projects like ARR, credits are created as trees grow and store carbon in their wood, roots, and soil.
Companies can buy carbon credits to offset emissions they cannot yet eliminate. Microsoft uses credits as part of its wider climate strategy.
The voluntary carbon market (VCM) is where companies choose to buy credits. This market is different from compliance markets, where governments require companies to cut emissions. In the voluntary market, many project types generate credits. These include forestry, soil carbon, clean energy, and methane reduction.
The VCM has grown strongly over the past decade. More companies are making net-zero and climate pledges. Many rely partly on carbon offsets and removal credits to meet those goals.
Source: Sylvera
Forest projects that issue ARR credits must follow strict rules for measurement, reporting, and verification. These rules help ensure the carbon removals are real, additional, and long-lasting. Once verified, credits can be sold or retired by companies to meet climate commitments.
Why Microsoft Is Investing in Carbon Credits
Microsoft, the world’s biggest buyer of CDR credits, has set long-term environmental goals. These include becoming carbon negative by 2030 and removing more carbon than it has emitted since its founding by 2050.
To reach these goals, the tech giant invests in many types of carbon removal solutions. These include both nature-based and engineered approaches.
Microsoft’s removal credit commitments have surged. They’ve expanded from small contracts in 2023 to large, long-term deals by 2025. The largest commitments in 2025 include:
Rubicon Carbon framework (18 million tonnes): nature-based forestry ARR credits over 15–20 years.
AtmosClear BECCS (6.75 million tonnes): one of the biggest permanent engineered removal agreements.
Total for 2025, including all major disclosed contracts: 45+ million tonnes. Some contracts span many years (up to 20 years) and may deliver credits over time. These numbers reflect contracted commitments of Microsoft, not necessarily credits delivered in a single year.
These actions make Microsoft one of the largest corporate buyers of voluntary carbon removal credits. Corporate demand funds various removal methods. These include better land use, soil carbon storage, engineered solutions, and forest restoration.
The Uganda forestry project offers benefits beyond carbon removal. It supports smallholder farmers by helping them plant woodlots that generate income.
As trees mature, farmers can earn money from sustainable timber and charcoal. They may also benefit from future carbon revenues linked to the project.
The project also helps restore degraded land and expand forest cover. Healthy forests improve soil quality, help regulate water flows, and support wildlife. These environmental benefits are common in nature-based carbon projects.
The financing model behind the project also helps attract long-term investment. Microsoft’s purchase creates steady demand. This can lead to more funding for forestry and other nature-based solutions. This can help scale carbon removal efforts over time.
Scaling Up Nature-Based Solutions
The global carbon credit market has expanded rapidly, though traded volume has gone down year-over-year since 2022. Companies bought more avoided-emission and carbon removal credits.
Removal-type credits (those that remove carbon from the atmosphere) were priced on average 381% higher than traditional emission-reduction credits in 2024. This reflects strong corporate interest in durable climate action.
Afforestation and reforestation remain among the largest categories in the voluntary market. Under the Verified Carbon Standard (VCS), more than 1.3 billion credits have been issued across sectors. These include forestry and other land-use projects, with over 776 million credits retired to date, showing heavy participation by land-based nature projects. These projects span regions across Africa, Latin America, and Asia.
Microsoft’s large ARR credit purchase reflects a wider trend. Many companies now include voluntary carbon credits in their climate plans. Major buyers include technology firms, airlines, consumer goods companies, and energy producers.
On the project level, a Rubicon Carbon spokesperson shares exclusive insights with the CarbonCredits.com team on the following questions:
How does Rubicon Carbon ensure the long-term permanence of the carbon removals from the Kijani Forestry Project, and what monitoring or verification systems are in place to track carbon storage over time?
R: The project utilizes a comprehensive, site-specific monitoring technology stack. Each farmer’s plot of land is tagged with GPS coordinates and location-tagged photos for ongoing survival checks. In addition, Rubicon Carbon’s asset management approach includes regular monitoring of projects using remote sensing data to supplement the data shared by project developers.
Can you provide details on how the smallholder farmers in Northern Uganda benefit financially from this project, and what percentage of project revenues is allocated to local communities?
R: The project is structured so that smallholder farmers directly benefit through shared carbon revenues, sustainable timber and sustainable charcoal offtake, and the provision of all planting inputs and training at no upfront cost. A portion of project revenue is reserved for long-term tree maintenance and stewardship, while farmers earn additional income through annual survival payments that begin in the first year and sustainable charcoal and timber production over time.
How does Rubicon Carbon plan to scale this model in other regions or forestry projects, and what challenges do you foresee in meeting large corporate demand for verified carbon removal credits?
R: The Kijani project is exceptionally well-tailored to meet the needs of farmers and communities in Northern Uganda, where illegal charcoal production is a driver of deforestation and a common income-generating activity in rural areas. The project offers multiple alternative revenue streams for farmers and clear benefits for carbon sequestration.
Its success has been driven by deep local relationships and strong farmer engagement, demonstrating how a community-based approach can succeed at scale. We see this project as a compelling example of what’s possible when we combine carbon finance with nature reforestation. We look forward to bringing similar project tools and capabilities to other parts of Africa with strong partners like the Kijani Forestry team.
Looking Ahead: Challenges, Outlook, and Scale
Despite this growth, challenges remain. High-quality credits require strong verification. Past reviews show that some credits did not always deliver real climate benefits without strict oversight. Thus, the volume of credits traded has fallen.
As the market grows, buyers and standards bodies are placing more focus on transparency, quality, and long-term monitoring.
The voluntary carbon market continues to change as expectations for quality rise. Forestry projects face risks such as fires, disease, and land-use changes. These risks can affect how long carbon stays stored in forests.
Policy changes may also influence future demand. Some governments are thinking about new climate rules. These rules might change how carbon credits are counted in national records and corporate reports. Such changes could impact prices and demand for nature-based credits.
At the same time, companies like Microsoft are expanding long-term carbon removal contracts. Many of these agreements last for years or decades. This helps projects secure early funding while trees and other systems take time to store carbon.
The deal shows how important nature-based solutions are becoming in corporate climate plans. It is part of a larger agreement with Rubicon Carbon that could deliver up to 18 million tonnes of removal credits over the coming decade. As demand for high-quality carbon credits grows, partnerships like this may support climate action while also driving local economic development.
Disseminated on behalf of Sierra Madre Gold & Silver Ltd.
Silver is prized for its beauty and use in jewellery, but its true value today lies in technology. Silver is now a key material as the world shifts to renewable energy, electric vehicles, and advanced electronics. Its high conductivity and reflectivity make it essential for solar panels, EV batteries, and 5G networks.
For investors, this shift marks a new chapter for the silver market – one driven less by fashion and more by function. Companies like Sierra Madre Gold & Silver are ready to meet this growing demand for industrial and investment needs.
Rising Demand from the Green Transition
The clean energy transition is rapidly changing how silver is used. The Silver Institute reports that global silver demand hit a record 1.2 billion ounces in 2024. More than 30 percent of this was for industrial uses, mainly in solar power and electronics. That figure is set to rise as countries expand renewable energy capacity.
In 2024, industrial silver use hit an all-time high of 680.5 million ounces, driven by solar manufacturing, electric vehicles, and electronics. Solar energy alone now accounts for more than 30 percent of industrial demand.
Each photovoltaic (PV) panel has 15–25 grams of silver. By 2030, solar installations may top 500 gigawatts each year. This could mean the sector needs 250 million ounces of silver annually.
Electric vehicles are another major source of growth. A single EV uses up to 50 grams of silver, roughly twice that of a traditional car. As production expands, the automotive sector’s silver demand could triple by 2030.
These trends are tightening the global silver market. Inventories are falling, and analysts warn of persistent supply deficits through the end of the decade.
While demand surges, mine output is not keeping pace. The Silver Institute estimates global silver production at about 819.7 million ounces in 2024, up less than 1 percent from the previous year.
Even with this small rise, the world will have a 117.6 million-ounce supply deficit in 2025. This shows ongoing long-term shortages.
Mexico remains the world’s largest silver producer, contributing about 23 percent of global output. But much of this comes from aging or polymetallic mines, where silver is a by-product. New producers like Sierra Madre Gold & Silver attract investors. They blend modern exploration with production. This is happening in one of the richest silver belts on Earth.
Sierra Madre’s Portfolio: Reviving Proven Silver Assets
Sierra Madre Gold & Silver Ltd. (TSXV: SM, OTCQX: SMDRF) is advancing two key projects in Mexico’s Sierra Madre mineral belt: La Guitarra and Tepic. Together, they represent a blend of production and exploration upside.
Source: Sierra Madre Gold & Silver
La Guitarra Mine (State of Mexico): La Guitarra, acquired from First Majestic Silver Corp., is a fully permitted and producing underground operation. It already has processing infrastructure in place. The company reached commercial production at 500 tonnes per day in January 2025, with plans to expand to up to 1,500 tonnes per day by 2027. La Guitarra could restore one of Mexico’s best-known silver mines to its former prominence.
Tepic Project (Nayarit): Tepic is a high-grade epithermal gold-silver deposit. It has near-surface mineralization, which means there’s great exploration potential. This also allows for options for future growth.
Sierra Madre cuts costs and timeline risks by targeting assets with established infrastructure and clear development paths. This approach is safer than working with early-stage explorers.
Positioned for the New Industrial Cycle
The global shift to cleaner energy sources is reshaping the silver market into something closer to a strategic commodity. Governments and industries now view silver as vital to achieving energy-transition goals. As demand outpaces supply, producers with near-term restart potential stand to benefit most.
Sierra Madre fits neatly into that narrative. The La Guitarra project has restarted production much quicker than greenfield developments. Those often need years for permits and construction. At the same time, its exploration project adds scalability and long-term growth potential.
Mexico has a strong mining infrastructure and a skilled workforce. It’s also close to North American industrial hubs. This gives Sierra Madre a big logistical advantage. The U.S. is putting policies in place to secure supply chains for key materials. This makes Mexico a more important and reliable supplier.
Market Dynamics: Silver as a Strategic Metal
Silver’s 2025 price action underscores profound shifts in its role within both industrial and investment spheres. After climbing nearly 25 percent year-to-date, silver shattered previous records by reaching its all-time high of $54.24 per ounce in October before correcting and settling in the high-$40 range.
Major analysts such as Metals Focus project that prices could breach the US$60 mark by late 2026 if current supply deficits and clean energy demand trends persist, citing strong industrial momentum – particularly in solar and electronics – as critical drivers.
Source: Bloomberg
Supporting this rally, silver exchange-traded products (ETPs) absorbed 95 million ounces in the first half of 2025, pushing global holdings to 1.13 billion ounces – just 7 percent below their all-time peak.
According to data from the World Silver Survey 2025, industrial fabrication demand reached a new record of 680.5 million ounces in 2024, maintaining upward momentum through 2025. The supply side remains structurally tight: analysts project a market deficit of roughly 149 million ounces this year, marking five consecutive years where demand has outpaced annual mine production.
Why Sierra Madre Stands Out
Production: La Guitarra restart completed, targeting output ramp-up in 2026 and 2027.
High-Quality Assets: Two projects in Mexico’s most productive silver-gold belt.
Operational Readiness: A fully permitted plant and infrastructure at La Guitarra reduced start-up costs.
Strong Market Tailwinds: Silver demand from solar, EVs, and electronics continues to set records.
Experienced Leadership: Proven management team with expertise in Mexican mining operations.
These factors make Sierra Madre a unique mix of production, exploration, and expansion potential, and access to one of the fastest-growing industrial metals globally.
A New Chapter for Silver – and for Sierra Madre
Silver’s growing role in the clean-energy transition marks a turning point for the mining industry. Once seen mainly as a precious metal, it is now a cornerstone of the technologies driving global decarbonization.
Sierra Madre Gold & Silver is one of the few junior miners that successfully restarted a permitted mine in Mexico’s silver heartland and is planning a near-term expansion. This positions them well to benefit from the current structural shift. With rising demand and limited supply, the company is ready to continue with its strategy for La Guitarra. This move connects Mexico’s rich mining history with a clean-energy future.
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. Sierra Madre Gold and Silver Ltd. (“Company”) made a one-time payment of $25,000 to provide marketing services for a term of one month. None of the owners, members, directors, or employees of New Era Publishing Inc. and/or CarbonCredits.com currently hold, or have any beneficial ownership in, any shares, stocks, or options of the companies mentioned.
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CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate,” “expect,” “estimate,” “forecast,” “plan,” and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated.
These factors include, without limitation, statements relating to the Company’s exploration and development plans, the potential of its mineral projects, financing activities, regulatory approvals, market conditions, and future objectives. Forward-looking information involves numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility, the state of financial markets for the Company’s securities, fluctuations in commodity prices, operational challenges, and changes in business plans.
Forward-looking information is based on several key expectations and assumptions, including, without limitation, that the Company will continue with its stated business objectives and will be able to raise additional capital as required. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.
There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially. Accordingly, readers should not place undue reliance on forward-looking information. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis and annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances except as may be required by applicable law.
For more information on the Company, investors should review the Company’s continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.
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