Carbon removal means capturing CO₂ from the air and storing it for good. This helps lessen the effects of climate change. Methods include direct air capture, reforestation, and ocean-based solutions. It is becoming a key strategy for companies aiming to reduce emissions.
Climeworks recently boosted the market by securing big deals with TikTok and Two Drifters Distillery. They will remove over 6,000 tons of CO₂. These partnerships show a growing need for carbon removal solutions. Companies are striving for their net-zero goals.
Second, a new trading platform, Crbn.trade, is set to launch a mobile app to make carbon credit trading accessible to individual investors.
How Climeworks is Scaling Carbon Removal for a Net Zero Future
Climeworks, based in Switzerland believes that achieving net zero needs a blend of effective carbon removal methods. They provide tailored solutions by blending nature-based methods like afforestation and biochar with advanced tech. This includes enhanced weathering, BECCS, and Direct Air Capture (DAC). This flexible approach helps businesses meet sustainability targets while adapting to changing regulations.
Climeworks plans to be the first DAC company to reach net zero. As per their sustainability report, it aims to scale to gigaton capacity by 2050 and targets net zero corporate emissions by 2030.
In 2019, Climeworks launched the first online platform for carbon removal. This helps people and businesses offset their emissions. Since then, over 21,000 individuals and many small and medium-sized companies have used it. Ten23 Health and 118Group recently joined forces. This reflects a rising interest in carbon removal within business sustainability plans.
TikTok’s Multi-Year Carbon Removal Deal to Combat Emissions
The press release revealed TikTok has partnered with Climeworks to remove 5,100 tons of CO₂ by 2030. They will use Direct Air Capture (DAC), Biochar, and Reforestation to cut emissions. This effort follows industry best practices and supports TikTok’s sustainability goals.
Ian Gill, Global Head of Sustainability at TikTok, emphasized the company’s commitment:
“We carefully evaluated multiple providers to build a high-quality carbon removal portfolio. Climeworks met our highest standards and fits perfectly with our strategy to achieve carbon neutrality by 2030.”
TikTok’s short videos attract over 1 billion users, but its energy use comes at a cost. The platform’s heavy reliance on video streaming leads to an estimated 50 million tonnes of CO₂ emissions yearly—almost as much as Greece’s total emissions.
Unlike Meta and Google, TikTok has not disclosed detailed emissions data, raising concerns about transparency. A Greenly report shows one minute on TikTok produces 2.921 grams of CO₂e—slightly less than YouTube but more than Instagram. However, TikTok’s high daily usage makes its total emissions much higher.
Most of its emissions come from energy-hungry data centers, which process and stream content. While TikTok operates one renewable-powered data center in Norway, the rest rely on fossil fuels like coal and natural gas.
Two Drifters Distillery makes the UK’s most sustainable rum. They focus on cutting emissions first and remove only what they can’t avoid. To stay accountable, they created a self-funded carbon tax and pay Climeworks to permanently remove any CO₂ they emit. Since carbon removal is expensive, reducing emissions is their top priority.
Since 2020, Two Drifters has partnered with Climeworks to lower its carbon footprint. Now, they are expanding this partnership. By 2032, they aim to remove 1,067 more tons of CO₂ using Direct Air Capture (DAC).
Cutting Emissions at Every Step
100% electric distillery powered by renewable energy
Electric vehicles for deliveries
Lightweight UK-made glass bottles
Closed-loop cooling system to save water
Locally sourced labels to cut transport emissions
Through these efforts, Two Drifters has reduced its total carbon footprint to 1.20 kgCO₂e per bottle (cradle-to-grave)—far lower than the industry average of 2.95 kgCO₂e (cradle-to-gate). It then removes this CO₂ with Climeworks, making its footprint less than zero. The company boasts, “Every sip of its rum is carbon-negative, no matter where it’s enjoyed.”
Two Drifters stands out because it uniquely includes carbon removal costs in its production expenses. This strategy promotes sustainability while also boosting profitability.
Co-founder Dr. Russ Wakeham pointed out how this model affects the company’s long-term goals. He said,
“The more carbon we avoid through sustainable practices, the greater our margins become.”
Source: Two Drifters Distillery
Crbn.trade: Expanding Access to Carbon Markets
Quantum Commodity Intelligence reported that Crbn.trade, a new carbon trading platform is launching a mobile app.
This app will help individual investors trade carbon credits easily and allow users to buy, sell, and trade carbon credits like stock market trading.
Rene Velasquez, chief executive and founder of Crbn.trade said,
“Retail participation in equities helps to drive the market and is a massive component of liquidity. As investors have become more sophisticated, they’re more active. That liquidity helps not only in price discovery, but it helps market participants enter and exit at will,” he said.”
Thus, the whole purpose is to revive retail participation, offering a secure and regulated alternative.
Currently, the carbon market is dominated by large corporations and financial institutions. By simplifying access, Crbn.trade aims to attract small investors. The app’s testing phase begins on March 5 and users can register in advance.
Carbon Credits Portfolio
Crbn.trade tailors their portfolios based on different carbon removal methods, including, Direct Air Capture (DAC), Afforestation, Reforestation & Revegetation (ARR), Biochar, Regenerative Agriculture, Soil Carbon Sequestration, Bioenergy with Carbon Capture and Storage (BECCS), Enhanced Rock Weathering (ERW), Ocean Alkalinization and Fertilization, Blue Carbon, Agroforestry, and Improved Forestry Management
Financial Benefits and the Future of Carbon Removal
Experts consider carbon removal to be more than an environmental effort—it’s a smart financial move. As carbon pricing changes, companies with long-term agreements can avoid future cost spikes. A diverse carbon removal plan ensures reliable delivery and stable costs. Businesses now see it as a key strategy to stay profitable while meeting sustainability goals.
A report by Oliver Wyman, in partnership with the City of London Corporation and the UK Carbon Markets Forum, estimates that the global carbon removal market could grow to $100 billion per year by 2030-2035 with the right support.
However, despite rising interest and investment, the market still struggles to scale fast enough to meet climate goals. To attract more investment, demand needs to grow 3-5 times its current level.
As more companies see the benefits of carbon removal, demand for high-quality options will rise. Climeworks stands out by providing tailored solutions to help businesses meet net-zero targets. As financial gains align with sustainability, more companies will adopt carbon removal. This will make it a common practice across industries.
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The International Civil Aviation Organization (ICAO) is launching a global platform to connect aviation sustainability projects with investors. The ICAO Finvest Hub will fund initiatives like sustainable aviation fuel (SAF) production and clean energy development. This effort aims to reduce aviation emissions and speed up the transition to a greener planet
The press release highlighted that the project was formalized with a Letter of Intent at ICAO’s Global Implementation Support Symposium. ICAO Secretary General Juan Carlos Salazar, along with Airbus, Boeing, the International Power-to-X Hub, and GenZero, all agreed to support the initiative.
ICAO Council President Salvatore Sciacchitano noted,
“The success of aviation’s environmental transition depends on strong partnerships and accessible funding, particularly for developing States. The establishment of the Finvest Hub exemplifies the power of international cooperation in addressing our shared environmental responsibilities. Through this platform, we are acting on our commitment to achieve net-zero carbon emissions by 2050, while implementing the Global Framework for Sustainable Aviation Fuels adopted in Dubai.”
How the ICAO Finvest Hub Will Drive Green Aviation
ICAO Secretary General Juan Carlos Salazar further explained the role of The Finvest Hub below:
“The Finvest Hub introduces access to new financial mechanisms specifically designed for aviation sustainability projects. By connecting technical expertise with innovative financing solutions, we’re creating practical pathways to increase the production of sustainable aviation fuels and other cleaner energy sources. These projects will serve as engines of economic growth while advancing environmental protection across our Member States.”
Know the details of how it will support the industry:
Linking Projects with Investors – The hub connects sustainability projects with investors eager to fund aviation decarbonization.
Creating Funding Pathways – It provides clear channels for financial support, ensuring key projects get the resources they need.
Supporting Developing Nations – The focus is on countries facing challenges in funding aviation sustainability projects. We aim to help them overcome these financial barriers.
Collaborating with Key Stakeholders – The hub will partner with governments, financial institutions, and private investors to unlock new funding for aviation decarbonization.
The main goal is to help developing countries. We do this by providing technical guidance, training, and policy support. This will help them attract investments and build a strong foundation for sustainable aviation.
The aviation industry is hard to decarbonize and accounts for about 3% of global carbon emissions.
The ICAO Global Framework for Sustainable Aviation Fuels (SAF), Lower Carbon Aviation Fuels (LCAF), and other Cleaner Aviation Energies aims to reduce CO2 emissions from international aviation by 5% by 2030.
SAF Demand Forecast: 2030
Boston Consulting Group (BCG) expects SAF demand to rise sharply. By 2050, it could account for around 12% of aviation energy use.
By 2030, SAF demand is expected to hit 10 MTPA, with the potential for even more growth.
Rapid growth in SAF production has caused overcapacity in 2024. This has led to lower prices and shrinking profit margins. Experts expect demand to outpace supply, restoring margins and encouraging reinvestment eventually.
Governments and industry leaders must collaborate to establish policies that encourage investment and provide incentives. Such measures are crucial to expand SAF production to meet aviation’s net-zero target by 2050.
Europe: The Top SAF Player
Europe is leading the way in SAF production. For example, a €1.5 billion project partnership between Energy consultancy Power2X and Rotterdam-based tank storage company Advario plans to build the world’s largest Electric Sustainable Aviation Fuel (e-SAF) factory in the Netherlands by 2030. It will produce more than 250,000 tons of SAF each year. This amount can power about 7,000 transatlantic flights.
BCG further highlighted that this year European mandates will likely drive long-term SAF demand. However, uncertainties remain, including U.S. policies, voluntary payments, and Asian mandates.
North America’s Role in the Aviation Fuel Market
Another report from Research And Markets revealed that the aviation fuel market can grow up to USD 325.98 billion by 2030, at a CAGR of 8.5%.
They envision that North America can push the growth between 2024 to 2030 as this region has a robust aviation industry, with busy airports and major airlines in the U.S. and Canada.
Notably, Canada is the fastest-growing aviation fuel market in North America. Rising air traffic, cargo operations, and defense activities are driving fuel demand. The military is also adopting SAF to cut emissions and enhance energy security.
Some of the top companies driving the aviation fuel boom are Exxon Mobil Corporation, Chevron, BP, Shell, and TotalEnergies
Understanding Lower Carbon Aviation Fuels (LCAF)
Lower Carbon Aviation Fuel (LCAF) is another sustainable option for the aviation industry. It’s a CORSIA-approved fossil-based aviation fuel that meets sustainability criteria. An ICAO report says that LCAF can help meet long-term aviation emission reduction goals. It also works with SAF.
As LCAF is a CORSIA-eligible fuel, it must cut lifecycle emissions by at least 10% from the baseline of 89 gCO2e/MJ.
LCAF can be produced using carbon capture, renewable hydrogen, and low-carbon electricity. Producers can also cut methane emissions from oil extraction. Both SAF and LCAF reduce emissions but in different ways. SAF lowers emissions when planes burn fuel, while LCAF cuts emissions during production.
Overall, we can conclude by saying that ICAO has taken one step further to decarbonize the aviation industry with the launch of Finvest Hub. With companies ramping up sustainable aviation fuel production, aviation’s net-zero goal is clearly within reach.
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Walmart announced its fourth-quarter earnings for fiscal year 2025. The e-commerce giant achieved a record-breaking revenue of $680.985 billion, surpassing its previous year’s performance. This equates to an average daily income of about $1.86 billion.
Amid this financial success, how will Walmart move toward its climate and net zero goals?
Profits Soar While Sustainability Goals Stall?
Walmart posted adjusted earnings per share (EPS) of $0.66 and revenue of $180.55 billion for Q4. This exceeded analyst predictions of $0.64 EPS and $180.31 billion in revenue.
The company’s growth was significantly driven by its online business, which saw a 16% increase in sales during the 4th quarter. Despite a 4.1% rise in sales for the quarter, net profit experienced a slight decline of 4.4%, amounting to $5.254 billion.
Comparable sales for Walmart U.S. increased by 4.6%, driven by a 16% growth in global e-commerce. Additionally, the giant retailer’s advertising sector reported a robust 29% growth.
The company’s competitive pricing strategy attracted a diverse customer base. These include higher-income shoppers seeking value amid economic uncertainties.
However, the largest retailer is being careful about the next fiscal year. They expect only slight sales growth and earnings per share that could be as much as 27 cents lower than what analysts predicted. This cautious outlook stems from possible consumer reluctance and the effects of tariffs on imports from China and elsewhere.
Source: Reuters
Following the announcement, Walmart’s shares experienced a decline of up to 7.8%. Analysts worry about a potential drop in consumer spending. This concern comes from post-holiday spending trends and inflation caused by protectionist trade policies.
Walmart faces challenges, but it stays focused. It uses its size to improve online and in-store options, helping it keep its edge in retail.
Analysts are still hopeful about Walmart’s market share growth and solid business trends. They do have worries about e-commerce profits and ongoing investments. The company focuses on competitive pricing. This strategy attracts many customers and helps it thrive in an uncertain economy.
But how does the e-commerce giant advance its sustainability and climate goals? Its latest report says Walmart is lagging behind its climate targets. Let’s take a closer look at the company’s sustainability efforts.
Walmart continues to show commitment to environmental impact. So, it has started many initiatives to cut greenhouse gas (GHG) emissions and boost sustainability in its operations and supply chain.
Commitment to Net Zero Emissions
In 2020, Walmart announced its ambitious goal to achieve zero emissions across its global operations by 2040. This commitment encompasses a comprehensive strategy that does not rely on carbon offsets. To reach this objective, the company has outlined several key focus areas:
Renewable Energy Transition: Walmart aims to power 100% of its global operations with renewable energy sources by 2035. By 2024, the company stated that about 36% of its operations used renewable energy. This shows steady progress toward its goal.
Fleet Electrification: Transportation is a significant contributor to GHG emissions. Walmart has set a target to electrify its entire vehicle fleet, including long-haul trucks, by 2040. This initiative is expected to substantially decrease emissions associated with product distribution and logistics.
Walmart knows that much of its carbon footprint comes from its supply chain. So, in 2017, it started Project Gigaton. This program seeks to engage suppliers in the collective goal of reducing or avoiding 1 billion metric tons (a gigaton) of GHG emissions by 2030. The initiative focuses on several key areas:
Energy Efficiency: Encouraging suppliers to adopt energy-efficient practices and technologies to minimize emissions.
Sustainable Agriculture: Promoting farming practices that reduce environmental impact and enhance carbon sequestration.
Waste Reduction: Use strategies to cut waste during the product lifecycle. This starts from manufacturing and goes to end-of-life disposal.
Source: Walmart ESG Report
In February 2024, Walmart said it met its Project Gigaton goal 6 years early. It cut, avoided, or captured one billion metric tons of CO₂e emissions from its supply chain. This milestone underscores the effectiveness of collaborative efforts in driving substantial environmental impact.
As of the latest reports, over 3,100 suppliers have now joined the project. They are helping to reduce emissions significantly.
By 2023, Walmart reduced operational emissions by 19.3% from its 2015 baseline, with a 45% decline in carbon intensity. However, a 3.9% rise in annual emissions that year has led the company to delay its predetermined reduction targets.
Other major sustainability efforts of Walmart include:
Circular Economy
Walmart wants to promote a circular economy. They aim to cut waste and boost the reuse and recycling of materials. The company has set a goal to achieve zero waste in its operations in key markets, including the U.S., by 2025. Initiatives include:
optimizing packaging,
increasing the recyclability of private-brand products, and
collaborating with suppliers to minimize waste throughout the product lifecycle.
Sustainable Product Sourcing
Ensuring that products are sourced responsibly is integral to Walmart’s sustainability efforts. The company aims to source key commodities by 2025. These include palm oil, beef, soy, pulp, paper, and timber. All must be free from deforestation. This means working together with suppliers.
The retailer established clear sourcing standards. They also support sustainable farming and forestry efforts.
Collaborative Efforts and Advocacy
Walmart understands that addressing climate change requires collective action. The company works with different coalitions and partners to promote sustainability in retail and beyond.
Walmart wants to make a bigger impact. It does this by sharing best practices, supporting policies, and engaging stakeholders.
Challenges and Future Outlook: Balancing Profit Margins with Green Initiatives
Walmart has faced challenges in reaching its interim climate and net zero goals, despite its ambitious plans. In December 2024, the company said it won’t meet its goals.
It expects to fall short of cutting operational GHG emissions by 35% by 2025 and 65% by 2030.
Several factors cause this shortfall. First, some low-carbon technologies are not available. Others are too expensive, especially in refrigeration and transportation. Second, there are limits to their clean energy infrastructure and policies.
Walmart tackles these challenges by investing in new ideas. They also work with industry partners, policymakers, and tech developers. The company works hard to speed up the development and use of sustainable technologies. It also wants to improve energy efficiency and support policies that help move us toward a low-carbon economy.
In summary, while Walmart has made significant strides in its financial performance, the path to achieving its long-term net zero goals requires more effort, innovation, and collaboration. The company takes a proactive stance and values transparency, making it a leader in corporate sustainability. It works hard to grow its business while also being responsible for its environmental footprint.
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TotalEnergies and Air Liquide have partnered to advance green hydrogen production in Europe. Their goal is to reduce carbon emissions in key industries and heavy transport.
This deal includes two large projects that will supply clean hydrogen to refineries and other industrial users. Companies want to reduce greenhouse gas emissions by using renewable energy. This will help Europe switch to cleaner energy sources.
Vincent Stoquart, President, Refining & Chemicals at TotalEnergies, remarked on this deal, saying:
“…the partnership with Air Liquide takes on a new dimension and marks a new step in TotalEnergies’ ambition to decarbonize the hydrogen consumed by its refineries in Europe by 2030.”
The Game-Changing Projects: ELYgator and Zeeland Electrolyzer
The first project, called ELYgator, is a 200MW electrolyzer built by Air Liquide in Maasvlakte, Rotterdam. This facility will make 23,000 tons of renewable hydrogen each year. It will supply TotalEnergies’ industrial sites and other customers.
The project will use electricity from offshore wind farms and is expected to avoid up to 500,000 tons of CO2 emissions annually. The Dutch government and the EU’s Innovation Fund have funded this initiative. If everything goes as planned, the ELYgator plant will start operating by the end of 2027.
The second project is a 250MW electrolyzer developed through a 50/50 joint venture between TotalEnergies and Air Liquide. Located in Zeeland, Netherlands, this facility aims to produce 30,000 tons of renewable hydrogen annually.
It will mainly supply TotalEnergies’ Zeeland refinery. This will help cut carbon emissions in refining. The project should be up and running by 2029. It will use electricity from the OranjeWind offshore wind farm and TotalEnergies has a 50% stake in this farm.
Source: TotalEnergies
Why Green Hydrogen? The Climate Hero Europe Needs
Green hydrogen comes from renewable electricity and water. It is created without releasing carbon emissions. It is different from gray hydrogen, which is made using fossil fuels and releases large amounts of CO2.
Green hydrogen is key to cutting carbon emissions in industries such as refining, chemicals, and steelmaking. In these sectors, direct electrification isn’t always an option.
Reduces CO2 Emissions: It replaces fossil fuel-based hydrogen in industrial processes.
Supports Clean Transport: It can be used in fuel cells for trucks, ships, and trains.
Stores Renewable Energy: Hydrogen stores extra electricity from wind and solar farms. It provides energy when needed.
Enhances Energy Security: Countries can produce hydrogen locally, reducing reliance on imported fossil fuels.
From Refineries to Roads: A Cleaner Future for Heavy Industry
These projects will help decarbonize TotalEnergies’ refineries in Belgium and the Netherlands. The company estimates that using green hydrogen in these facilities will cut CO2 emissions by 450,000 tons per year.
Air Liquide will use its hydrogen pipeline network to deliver hydrogen. This will help industrial customers and heavy-duty transport users in the Netherlands and Belgium.
Heavy industries and transportation are some of the hardest sectors to decarbonize. These new hydrogen projects will play a critical role in making these sectors more sustainable. Focusing on heavy-duty mobility, like hydrogen-powered trucks and buses, will cut transport emissions. Transport is a major pollution source in Europe.
TotalEnergies’ Bold Push for Net-Zero by 2050
TotalEnergies is working toward reducing its CO2 emissions by 3 million tons per year by 2030. The company is moving away from fossil fuels. It focuses on cleaner energy sources like wind, solar, and green hydrogen. It has signed deals to produce 170,000 tons of green hydrogen each year. This will supply refineries in France, Germany, Belgium, and the Netherlands.
TotalEnergies is investing $100 million in sustainable forestry. This project will cover 300,000 hectares across 10 U.S. states. The initiative, in partnership with Anew Climate and Aurora Sustainable Lands, seeks to protect forests. It will also reduce timber harvesting and improve carbon sequestration.
The carbon credits generated will help offset Scope 1 and 2 emissions after 2030, supporting the company’s broader net-zero goals.
TotalEnergies has committed to cutting Scope 1 and 2 emissions by 40% by 2030 compared to 2015 levels. It is also investing in carbon capture and storage (CCS) and e-fuels, aiming to potentially avoid up to 100 million tons of CO2 annually.
The CO2 Fighters Squad is a key group behind these reductions. They focus on tracking emissions, boosting energy efficiency, and speeding up facility electrification.
By integrating offshore wind power into hydrogen production and investing in nature-based solutions, TotalEnergies is positioning itself as a leader in the clean energy sector. Its investments align with the European Union’s goal to reach net-zero emissions by 2050.
Air Liquide’s Role in Green Hydrogen Development
Air Liquide is a global leader in hydrogen production and distribution. It has invested in low-carbon and renewable hydrogen solutions, which support industrial customers. The company already operates five low-carbon hydrogen plants in Europe and plans to expand its hydrogen network.
Air Liquide’s expertise in electrolyzer technology, developed in partnership with Siemens Energy, ensures efficient and large-scale hydrogen production. The company thinks flagship projects like ELYgator and the Zeeland electrolyzer will boost the hydrogen economy. They will also help industries reduce their carbon footprint.
A Major Step for the Future
TotalEnergies and Air Liquide are partnering to help decarbonize European industries. These projects will produce a lot of green hydrogen from offshore wind energy. This will help cut emissions, support clean transport, and create a sustainable energy future.
As demand for green hydrogen increases, partnerships like this will help speed up the shift to cleaner industries and a low-carbon economy. With the ELYgator and Zeeland projects set to come online in the coming years, Europe is taking a major step toward its goal of net-zero emissions by 2050.
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Top news sources reported that India and France will collaborate on building Small Modular Reactors (SMRs) and Advanced Modular Reactors for civilian use.
Indian Foreign Secretary Vikram Misri said that both countries will design, develop, and produce these reactors together. He noted that modular reactor technology is still in its early stages. Significantly, international cooperation will help address challenges in large-scale nuclear projects.
This partnership signals a major shift in India’s nuclear policy. The government used to enforce strict rules. Now, it is opening the sector to global partnerships and private investment.
Furthermore, Prime Minister Narendra Modi will be discussing potential nuclear investments by U.S. firms in his recent Washington visit.
India’s Nuclear Push for Energy Security and a Greener Future
According to the Government of India, the country’s nuclear power capacity is projected to increase from 8,180 MW to 22,480 MW by 2031-32, with ten reactors under construction.
India is taking strong steps to enhance energy security and reduce carbon emissions. As per Reuters, Finance Minister Nirmala Sitharaman set a goal of 100 GW of nuclear power by 2047. The government has allocated over $2 billion for nuclear research and development. It also plans to construct five homegrown reactors by 2033.
NTPC, India’s largest state-run power producer, is boosting its nuclear goals. The company initially aimed for 10 GW of capacity but now targets 30 GW in the next twenty years. This expansion will cost about $62 billion. It fits with the government’s push for private and foreign investment in nuclear energy.
India’s Nuclear Share Trend
Source: IAEA
Overcoming Challenges
NTPC is actively working to secure land for its nuclear projects. Land acquisition is still a big hurdle. Public resistance has slowed India’s atomic energy growth in the past.
To speed up progress, NTPC has teamed up with the Nuclear Power Corporation of India (NPCIL). They plan to build two 2.6 GW nuclear plants—one in Madhya Pradesh and another in Rajasthan. The company is exploring 27 potential sites across eight states. These include Gujarat, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, and Tamil Nadu.
These locations could support at least 50 GW of nuclear power. However, addressing local concerns and getting regulatory approvals will be key for these projects.
Private Sector and Global Interest in India’s Nuclear Market
India has relaxed rules on nuclear investments. Reuters further revealed that this change has drawn major companies like Tata Power, Vedanta, Reliance Industries, and Adani Power. NTPC has launched a new subsidiary called NTPC Parmanu Urja Nigam. This move aims to strengthen its nuclear initiatives. This subsidiary will look for investment opportunities and partnerships.
NTPC is talking with international firms from Russia and the United States. They are exploring small modular reactors. These new reactors could help India diversify its clean energy sources and reduce its reliance on coal.
Nuclear power is becoming a key part of the country’s plan for low-carbon energy and this shift supports its sustainability goals.
On January 30, 2025, EDF released its new nuclear power generation estimates for France. These projections cover the next three years.
2025 & 2026: EDF previously estimated nuclear output between 335-365 TWh per year. Now, the range has increased to 350-370 TWh annually.
2027: The estimated nuclear generation remains at 350-370 TWh for the year.
India is focusing on nuclear energy for sustainability. Meanwhile, France is using its nuclear surplus to boost AI advancements.
AI computing needs a lot of electricity. Major tech firms are investing billions in large, power-hungry data centers. Most of these chips, mainly from Nvidia, power AI systems. They handle complex calculations that are essential for AI models.
S&P Global reported that President Emmanuel Macron pledged one gigawatt of nuclear power. This will support an AI computing project that aims to build one of the largest AI hubs in the world.
Tech firm FluidStack, will lead the project. It will connect 250 MW of nuclear power to AI computing chips by the end of 2026. Once finished, the facility may support 500,000 Nvidia AI chips by 2028. It could expand to 10 GW by 2030.
This project may cost billions of dollars. The company still needs to secure enough funding and AI chips to succeed. Brookfield Asset Management is investing 20 billion euros in AI infrastructure in France. Also, the UAE is teaming up with France to create an AI campus that runs on nuclear energy.
The Future of Nuclear-Powered AI and Energy Security
AI computing demand is soaring. By 2030, top AI models may need more than 5 GW of electricity. France’s choice to use nuclear power for AI development may boost its edge. This move helps keep France a leader in low-carbon energy.
For India, nuclear power is becoming a cornerstone of its clean energy transition. Nuclear energy is key to reaching the 500 GW goal for non-fossil fuel by 2030. It will help cut carbon emissions and provide a stable power supply.
India and France are deepening their nuclear cooperation. Both nations are now leaders in global energy and AI innovation. This shift boosts energy security and speeds up the move to cleaner, sustainable technologies.
Nuclear Investment Trends: The Case for SMRs
Notably, global investment in nuclear energy is set to rise. Right now, it’s about $65 billion each year. Nuclear capacity is expected to grow by over 50% to nearly 650 GW by 2050.
With stronger government actions, the investment could go even higher. In the Announced Pledges Scenario (APS), energy and climate policies could raise investment to $120 billion by 2030. Also, nuclear capacity would more than double by mid-century.
In the Net Zero Emissions by 2050 scenario, investment might top $150 billion by 2030. Capacity could exceed 1,000 GW by 2050.
Large reactors lead the way in investment. However, small modular reactors (SMRs) are growing fast. With better policy support and simpler regulations, SMR capacity could reach 120 GW by mid-century. This would need more than 1,000 SMRs and investment up to $25 billion by 2030 and $670 billion by 2050.
SMRs and large-scale reactors can help Europe, the US, and Japan regain their leadership in nuclear technology.
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HSBC, Europe’s largest bank, has taken another step toward achieving its net zero goals. The bank set a new interim target to reduce emissions from its financed activities, aiming for net zero by 2050. That’s 20 years later than the bank’s first net zero goal. But is it making real progress—or just delaying action?
Banking on Change: HSBC’s Net Zero Shift
Originally, HSBC pledged in 2020 to achieve net-zero emissions in its operations by 2030. In its latest annual report, the bank said it was reducing emissions in its supply chain more slowly than expected.
HSBC now expects only a 40% reduction in emissions by 2030, requiring heavy reliance on carbon offsets to bridge the gap.
HSBC said,
“As such, we have revisited our ambition, taking into account the latest best practice on carbon offsets. We are now focused on achieving net zero in our operations, travel, and supply chain by 2050.”
Also, HSBC will review its 2030 targets for emissions from its financing activities. Results from this review are expected later this year.
Challenges in Meeting Climate Goals
HSBC made its decision based on several factors it couldn’t control. These include new technology, demand for sustainable solutions, and policy changes. Julian Wentzel, HSBC’s new Chief Sustainability Officer, said the bank needed a “more measured approach.” This is because clients face real challenges when moving to lower-carbon operations.
The bank also highlighted that its original plan relied on the ability to use carbon credits to offset supply chain emissions. Recent guidance from the Science Based Targets Initiative (SBTi) advised against using offsets. As a result, HSBC changed its strategy.
The European bank has dropped its plan to start a carbon credits trading desk. This decision reflects a larger trend. Many big companies are reducing their use of carbon offsets. Instead, they are concentrating on cutting emissions directly.
Companies like Google, Delta Air Lines, and EasyJet are rethinking their carbon credit use. They worry about the integrity of the credits they buy to compensate for their carbon pollution. Some offsets may be issued too much and don’t provide real climate benefits.
HSBC’s decision comes after Shell, which just revealed plans to sell most of its nature-based carbon projects. Other banks, including Bank of America, have also been cautious about engaging in the carbon market due to its lack of liquidity and declining participation.
Following the Leaders or Falling Behind?
HSBC has stepped back from carbon credit trading, but it still supports climate finance. The bank has launched several initiatives to support low-carbon technologies and businesses.
In July, HSBC launched the HSBC Infrastructure Finance (HIF) unit. This unit aims to finance and advise on infrastructure projects for the low-carbon transition. But just four months later, this unit stopped working. This showed the difficulties in managing large-scale climate finance programs.
HSBC has also invested in key climate technologies. The bank promised $1 billion last year. This money will boost progress in:
HSBC has also invested $100 million in Bill Gates’ Breakthrough Energy Catalyst Fund. This fund backs green projects and helps scale climate innovations.
In another strategic move, HSBC partnered with Google Cloud to back companies developing climate-focused technologies. Through the Google Cloud Ready-Sustainability (GCR-Sustainability) program, HSBC provides financial support to businesses working on carbon reduction, supply chain sustainability, and ESG data management.
Climate Critics Push Back
HSBC’s move has sparked backlash from environmental groups. Reclaim Finance, a climate advocacy group, said the delay hurts the fight against climate change. Christophe Etienne from Reclaim Finance noted that:
“HSBC has opted to weaken its climate target rather than showing the ambition needed to drive the economy toward net zero.”
Joanna Warrington of Fossil Free London was even more direct. She remarked that HSBC is just putting its feet up and watching the world burn, rather than owning its responsibility for the climate crisis.
Source: Banking on Climate Chaos (BOCC) Report
Critics also noted that HSBC has played a major role in financing fossil fuel projects over the years. The chart above shows that the bank is among the top 12 banks that financed fossil fuels globally.
Opponents say moving the net-zero deadline to 2050 goes against their earlier promise. This promise was to align their financial activities with the Paris Agreement’s goals.
Since the Paris Agreement, the 60 largest banks have financed $6.9 trillion in fossil fuels, including $3.3 trillion for expansion, according to the 2024 Banking on Climate Chaos report.
In 2023 alone, banks provided $705 billion, with $347 billion for expansion—despite net-zero pledges. JP Morgan Chase led fossil fuel financing with $40.8 billion, making it the top backer of expansion. The report highlights banks’ continued support for fossil fuels, contradicting their climate commitments.
The Bigger Banking Picture
The announcement comes amid a broader retreat from climate commitments by major banks. Many U.S. banks, like Morgan Stanley, Citigroup, and Bank of America, have lowered their emissions goals or left the UN-supported Net-Zero Banking Alliance (NZBA). HSBC is still part of NZBA, but Elhedery did not promise to stay involved when asked by reporters.
Meanwhile, the Net-Zero Asset Owner Alliance mandates members to disclose financed emissions. These are GHG emissions attributed to financial institutions through their lending and investment activities.
In 2021, emissions peaked at 278 million tons but fell to 254 million tons by 2023, despite growing membership. This decline reflects shifts toward sustainable investments. By 2023, alliance members committed $555 billion to climate solutions, up $175 billion from 2022.
Key investment areas include bonds ($148 billion), real estate ($132 billion), equities ($99 billion), and infrastructure ($75 billion). Of 81 members with mid-term goals, 80 set climate investment targets, reinforcing the alliance’s push for net-zero progress through portfolio adjustments and sustainable financing.
Looking Ahead: Will HSBC Step Up or Step Back?
Despite the climate policy revision, HSBC reported strong financial results, with pre-tax profits rising 6.6% to $32.3 billion in 2024. The bank is cutting costs to save $1.5 billion by 2026.
HSBC maintains that it remains committed to net zero by 2050. However, its revised strategy raises questions about the role of banks in climate action. The institution claims that policy and market factors slow the transition. However, critics argue that financial leaders should lead the decarbonization effort, not just follow it.
With a review of its financed emissions targets set for later in the year, the banking sector will be watching closely to see whether HSBC introduces stronger policies—or continues to take a step back from its climate responsibilities.
https://globalcarbonfund.com/wp-content/uploads/2018/10/GCF_header_logo_340x156.png00carbonfundhttps://globalcarbonfund.com/wp-content/uploads/2018/10/GCF_header_logo_340x156.pngcarbonfund2025-02-20 10:43:502025-02-20 10:43:50HSBC Scales Back Net Zero Plans by 20 Years: A Climate Setback or Realistic Strategy?
Solar energy is a key player in the global shift toward clean and sustainable power. Governments and businesses want to cut carbon emissions and reach net-zero goals and solar power offers a dependable and scalable solution.
Solar energy’s explosive growth and cutting-edge tech make it an investment to watch. This article will uncover the top solar stocks to keep on your radar this 2025 and beyond.
The Sun-Powered Revolution: Why Solar Energy Matters
Solar energy harnesses the power of the sun to generate electricity, offering a clean and inexhaustible energy source. This clean power is different from fossil fuels because it doesn’t produce greenhouse gas emissions when used. This makes it a key solution for fighting climate change.
Solar installations can be scaled up easily, from home rooftops to large utility-scale farms. This flexibility allows solar energy to be used in many sectors.
The International Energy Agency (IEA) predicts that solar photovoltaic (PV) capacity will grow over 20% each year. By 2030, global solar capacity is set to exceed 2,600 GW. This fast growth comes from lower costs, better efficiency, and strong government support around the world.
Chart from IEA report
Recently, the cost of solar photovoltaic (PV) technology has dropped a lot. This makes it more competitive with traditional energy sources.
The National Renewable Energy Laboratory (NREL) reports that in 2023, renewable energy facilities, like solar, generated more electricity than both nuclear and coal sources. This shows the growing role of renewables in the energy mix.
Government Policies and Market Growth
Governments worldwide are implementing policies to accelerate the transition to renewable energy. The U.S. Inflation Reduction Act (IRA) provides billions of dollars in tax credits and incentives for solar power adoption. The IRA is under evaluation by the new administration but presently the tax credits components are expected to be maintained.
In Europe, the EU aims to install 320 gigawatts (GW) of solar capacity by 2025 and 600 GW by 2030. Meanwhile, China, the world’s largest solar market, added over 200 GW of new solar capacity in 2023 alone, marking an all-time high.
The IEA projects that solar energy will become the largest source of electricity by 2050. It will supply more than 50% of global power demand. This policy-driven growth strengthens the case for investing in solar stocks.
Solar Stocks: A Smart Bet on a Sustainable Future
Investing in solar stocks allows you to join a fast-growing industry focused on sustainability. More people are choosing solar energy due to helpful government policies, businesses’ commitment to being green, and greater public concern for the environment.
Financially, the solar sector has demonstrated resilience and growth. The upward trend suggests robust demand and a favorable market environment for solar companies.
Key Investment Drivers for Solar Stocks
Cost Declines: The cost of solar modules has fallen by more than 80% in the last decade.
Tech giants such as Google, Amazon, and Microsoft are making big moves. They are signing large solar power purchase agreements (PPAs) to cut down on their carbon footprints.
Energy Security: Solar power offers energy independence. It cuts down our reliance on fossil fuels and unstable global energy markets.
Top Solar Stocks to Watch in 2025
Here are four leading solar companies that are helping advance the clean energy transition:
1. First Solar (FSLR): Scaling Sustainable Solar with Advanced Thin-Film Tech
Source: Trading View
First Solar is a leading American solar technology company specializing in the manufacture of thin-film photovoltaic modules. The company is known for its advanced thin-film cadmium telluride (CdTe) technology. It has a lower carbon footprint and works better in high heat than traditional silicon panels.
The company reported $3.2 billion in net sales for 2023, a 37% increase year-over-year. It plans to invest over $1.1 billion in expanding its US manufacturing footprint.
As of September 2024, First Solar inaugurated a new facility in Alabama, adding 3.5 gigawatts (GW) to its U.S. manufacturing capacity (10GW). The company aims to have a total annual nameplate capacity of approximately 25 GW in the U.S. by 2026.
Key Projects
Series 7 Modules: First Solar’s Series 7 modules use advanced thin-film CdTe technology. This boosts efficiency and makes installation easier for utility-scale projects. Made in the U.S., they support domestic manufacturing.
Luz del Norte Project: Located in Chile, this project is one of Latin America’s largest photovoltaic solar power plants. The project covers 478 hectares and has a capacity of 141 megawatts (MW). It uses more than one million First Solar modules to generate alternating current (AC).
Sustainability Initiatives and Emissions Reduction Impact
First Solar focuses on low-carbon solar production. This cuts down environmental harm and boosts social and economic gains.
Image from First Solar
Since 2009, the company has cut greenhouse gas emissions by 64% per watt, energy use by 43%, and water consumption by 45%. Its recycling program recovers 90% of semiconductor material for reuse.
By 2026, First Solar plans to reach 25 GW of global manufacturing capacity. They will produce solar panels with a carbon footprint 2.5 times lower than traditional crystalline silicon modules. Their thin-film technology creates clean electricity. It does this without emissions, water use, or hazardous waste. This helps businesses move away from fossil fuels.
In 2023, First Solar’s module recycling program achieved a global material recovery rate of 95%. This includes materials like glass, aluminum, steel, laminate, and semiconductor materials.
All these achievements highlight First Solar dedication to sustainable manufacturing. They also show their part in moving the world towards clean energy.
2. Enphase Energy (ENPH): A Leader in Smart Solar Technology
Source: Trading View
Enphase Energy leads the world in solar microinverter tech and energy management. The company offers advanced solar inverters, battery storage, and smart energy solutions. These products improve the efficiency and reliability of solar power.
Enphase’s microinverters stand out from traditional string inverters. They optimize each solar panel on its own. This boosts power generation and improves overall system performance.
The company operates in North America, Europe, and Asia-Pacific. It is leading the move to smart, efficient, and reliable solar energy for homes, businesses, and utilities.
Key Achievements and Growth
Strong Revenue: Generated $382.7 million in revenue in Q4 2024.
Battery Storage Expansion: Shipped around 170 megawatt hours of IQ Batteries.
International Expansion: Expanded its operations in Europe and Australia to meet rising solar demand.
Enphase has shipped over 75 million microinverters and has more than 3.5 million solar systems installed worldwide.
Moreover, the company spends more than $250 million each year on research and development (R&D). This investment aims to improve product efficiency and software capabilities.
Innovative Solar and Storage Solutions
Enphase’s flagship IQ8 microinverter is one of the most advanced in the industry. It enables solar panels to generate energy even during grid outages.
Enphase Energy System combines solar, battery storage, and smart energy management. This setup ensures clean power is available all day, every day.
In 2023, Enphase introduced new battery storage solutions. These offer better capacity and efficiency. Homeowners and businesses can now access solar-plus-storage options.
Boosting solar energy: Microinverters increase panel efficiency by 5-15%. This helps ensure maximum clean energy output.
Boosting grid stability: Enphase’s smart energy management tools cut down on fossil fuel use.
Enphase’s solar technology has cut CO₂ emissions since it started. It has helped prevent over 56 million metric tons of carbon. That’s like taking 11+ million cars off the road.
The company is also working to reduce its own carbon footprint, aiming for net-zero emissions across its operations by 2040. Enphase is changing solar energy with its microinverter technology and smart energy systems. They make solar power generation, storage, and usage better.
3. Daqo New Energy Corp (DQ): A Key Player in the Solar Supply Chain
Source: Trading View
Daqo New Energy Corp is a leading manufacturer of high-purity polysilicon, the essential raw material used in solar panels. The company is vital in the global solar industry. It supplies high-quality polysilicon to leading solar panel makers.
Founded in 2007, Daqo runs a top-notch and cost-effective polysilicon plant. This facility plays a key role in making solar energy more affordable and scalable.
Key Achievements and Projects:
Daqo makes electronic-grade polysilicon with purity of over 99.9999%. This includes 6N and 9N grades, which are among the purest in the industry.
In 2023, Daqo produced over 133,812 metric tons of polysilicon, supplying top-tier solar companies worldwide.
The company has cut production costs to about $6.80 per kilogram. This change makes solar energy more affordable.
Expansion and Strategic Partnerships
Daqo has been expanding aggressively to meet rising global solar demand. The company just finished the Phase 5A expansion. This boosts production capacity to 205,000 metric tons each year. It has announced Phase 5B expansion, which will further boost capacity to over 300,000 metric tons by 2025.
Daqo has long-term supply deals with top solar panel makers like LONGi Green Energy, JA Solar, and Trina Solar. In 2023, the solar company signed multiple contracts worth over $18 billion to supply polysilicon for the next five years.
Daqo New Energy Milestones
Image from DQ website
Sustainability and Net-Zero Commitment
As a key part of the solar supply chain, Daqo New Energy is committed to reducing the carbon footprint of solar panel production. The company has focused on energy-efficient manufacturing processes to lower emissions.
Daqo’s recent upgrades have lowered energy use per kilogram of polysilicon by 30%.
This change also cuts down on its environmental impact. The company has also invested in green energy sources, ensuring that a portion of its power comes from renewable sources.
Its high-purity polysilicon boosts solar panel efficiency. This helps customers create more electricity while using fewer materials. As a result, overall emissions are reduced. This directly contributes to the global net-zero goal, making renewable energy more widespread and accessible.
4. Solar Bank (NASDAQ: SUUN): A Rising Player in Solar Energy Development
Source: Trading View
SolarBank Corporation is a top renewable energy developer and a rising player among these solar stocks. They focus on community and distributed solar projects in Canada and the U.S. The company also offers battery storage and EV charging solutions. Their clients include utilities, businesses, municipalities, and homeowners.
Key Financial Growth
In the fourth calendar quarter of 2024, SolarBank secured over $68 million in financial commitments from strategic and financial partners. Major transactions include:
$49.5 million deal with Qcells for four solar projects in New York, using U.S.-manufactured solar modules.
$18.5 million (Cdn $25.8 million) project finance facility from Royal Bank of Canada to fund two battery energy storage projects.
$32 million (Cdn $45 million) valued acquisition of Solar Flow-Through Funds Ltd., expanding its renewable energy footprint.
SolarBank boosted its market presence by listing on the Nasdaq Global Market. This move improved its financial standing and access to capital. In addition, it secured a Cboe Canada listing in 2024, reinforcing its position as a major renewable energy developer.
Expanding Renewable Energy Portfolio
SolarBank has completed over 100 MW of solar projects and has a pipeline exceeding 1 GW. Key projects include:
Geddes Solar Project (3.7 MW DC) in New York: Expected to provide green energy to 500 homes.
Greenville Community Solar (14 MW DC): Will serve 1,600 homes in New York.
Nova Scotia Community Solar Program (31 MW DC): Developed in partnership with TriMac Engineering, supplying green energy to 4,000 homes.
Future Expansion and Data Center Integration
SolarBank is looking into the data center sector. They want to provide sustainable energy solutions for AI and high-performance computing. Right now, there are no data center projects underway. However, the company is exploring possible partnerships.
SolarBank’s solar and battery projects are vital for North America’s clean energy shift. By emphasizing community solar and distributed energy, the company reduces fossil fuel use. This cuts carbon emissions. It also provides clean, sustainable power to many homes and businesses.
SolarBank is a key player in renewable energy in North America. Its strategic financial deals, acquisitions, and expanding project pipeline drive this progress, making it a rising star in the industry.
This report contains forward looking information regarding SolarBank, please refer to SolarBank press releases entitled “SolarBank Announces 2024 Highlights” for details of the statements, risks and assumptions associated with such forward looking information.
Final Thoughts: A Bright Outlook for Solar Investment
Investing in solar stocks is a great way to support sustainable energy. It also offers the chance for financial growth. Companies like First Solar, Enphase Energy, Daqo New Energy Corp, and Solar Bank are at the forefront of this transition.
Each company contributes uniquely to the advancement and adoption of solar technology. With the world focusing on clean energy, these companies can help achieve net-zero emissions and fight climate change.
*An exchange rate of US$1.00:Cdn$1.40 has been used.
Disclosure: Owners, members, directors, and employees of carboncredits.com have/may have stock or option positions in any of the companies mentioned: SUUN.
Carboncredits.com receives compensation for this publication and has a business relationship with any company whose stock(s) is/are mentioned in this article.
Additional disclosure: This communication serves the sole purpose of adding value to the research process and is for information only. Please do your own due diligence. Every investment in securities mentioned in publications of carboncredits.com involves risks that could lead to a total loss of the invested capital.
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Saudi Arabia is making history with the world’s largest grid-scale battery energy storage project. BYD Energy Storage has signed a 12.5 GWh contract with the Saudi Electricity Company (SEC), bringing their total collaboration to 15.1 GWh. This big project will help Saudi Arabia reach its Vision 2030 goals. It will boost renewable energy use and ensure a steady power supply.
What Is a Battery Energy Storage System?
A Battery Energy Storage System (BESS) is a technology that stores electricity for later use. It helps balance the power grid by storing excess energy when production is high and releasing it when demand rises. BESS is key for using renewable energy sources, like solar and wind. These sources don’t produce power all the time.
In 2023, new BESS installations worldwide reached 74 gigawatt-hours, a significant increase from 27 gigawatt-hours in 2022. BESS deployment is projected to grow at a 24% annual rate from 2024 to 2030, surpassing 400 gigawatt-hours by the end of the decade.
Key Benefits of BESS:
Improves Grid Stability – Helps prevent power outages by providing energy during peak demand.
Enables Renewable Energy Use – Stores solar and wind energy for use when the sun isn’t shining or the wind isn’t blowing.
Reduces Energy Costs – Allows utilities to store electricity when prices are low and use it when prices rise.
Lowers Carbon Emissions – Reduces reliance on fossil fuels by making renewable energy more reliable.
Enhances Energy Security – Ensures a more stable and secure energy supply, reducing dependence on imported fuels.
Why This Project Matters
Saudi Arabia aims to generate 50% of its electricity from renewables by 2030. However, renewable energy sources like solar and wind can be unpredictable. The 12.5 GWh battery storage project will solve this issue by storing energy and ensuring a steady power supply. This is very important in Saudi Arabia. The nation’s energy demand is high because of extreme temperatures and heavy electricity use.
BYD’s MC Cube-T ESS storage system will be installed at five locations across Saudi Arabia. These batteries use advanced Cell-to-System (CTS) technology, which improves efficiency and maximizes energy storage. This system will stabilize the grid. It will manage peak energy demands and support the growing renewable energy sector.
BYD’s Bold Move: A 15.1 GWh Commitment
BYD has been a pioneer in battery storage technology for over 17 years. The company has delivered more than 75 GWh of battery storage systems to 350 projects in 110 countries. Its energy storage solutions serve many areas, like power generation, utilities, and commercial use.
BYD’s technology is based on lithium iron phosphate (LFP) batteries, which are known for their high safety, long lifespan, and efficiency. Unlike conventional lithium-ion batteries, LFP batteries do not overheat easily, making them a more reliable option for large-scale energy storage. The CTS (Cell-to-System) integration used in the Saudi project allows for better space utilization and higher energy density, ensuring maximum performance.
This latest project in Saudi Arabia cements BYD’s position as a global leader in energy storage. The company is known for its focus on innovation, high-quality products, and strong after-sales support.
More Than Just a Battery: The Role of BESS in the Clean Energy Transition
Energy storage is key to making renewable energy reliable. Without storage, electricity must be used as soon as it is generated. Battery systems store energy for later use. This makes renewables easier to use and cuts down on fossil fuel reliance.
Major benefits of large-scale energy storage include:
Greater Energy Independence – Countries can rely more on their own renewable energy instead of importing fossil fuels.
Enhanced Power Grid Resilience – Protects against blackouts and grid failures.
Economic Growth – Creates jobs and attracts investment in clean technology.
Efficient Energy Management – Utilities can store energy during low-demand periods and release it when demand is high, improving efficiency.
Supports Electric Vehicle Expansion – As more electric vehicles (EVs) hit the roads, energy storage systems will help balance charging demand and prevent grid overload.
Looking ahead to 2025, Rho Motion, an energy consultant firm expects another strong year for BESS. There are over 400GWh of projects in the grid pipeline and continued growth in the commercial and industrial market.
Looking further ahead, the pipeline for 2025–2030 now exceeds 1TWh—an impressive leap from 2021 when the market was just 1% of that size. The past year saw new regions developing capacity markets and launching government-backed tenders, with a 53% increase in BESS deployment.
Source: Rho Motion
Key markets to watch in 2025 include Australia, Saudi Arabia, Central and Eastern Europe, Canada, and Chile.
Saudi Arabia’s Vision 2030: A Renewable Energy Powerhouse
Saudi Arabia’s Vision 2030 aims to diversify the country’s economy and reduce dependence on oil. A big part of this plan is increasing renewable energy use. The BYD-SEC partnership is a major step toward achieving this goal.
Currently, Saudi Arabia is investing heavily in solar and wind energy projects. However, to successfully transition to renewables, energy storage systems are crucial. Without large-scale storage, solar and wind power alone would not be enough to ensure a stable energy supply. This project shows how BESS technology connects renewable energy with energy needs.
This project boosts Saudi Arabia’s energy security. It also makes the country a leader in renewable energy and battery storage technology. As other countries look for solutions to integrate renewables into their energy grids, Saudi Arabia’s approach could serve as a model.
Breaking Barriers in Energy Storage: Challenges and Opportunities
While battery storage has many benefits, there are still challenges that need to be addressed:
High Initial Costs – Large-scale energy storage projects require significant investment.
Battery Lifespan and Recycling – Used batteries must be properly recycled to avoid environmental harm.
Scalability – Expanding storage capacity to meet increasing energy demands requires continued innovation.
Despite these challenges, the energy storage market is growing rapidly. According to industry reports, global energy storage capacity is expected to reach 1,000 GWh by 2030, driven by increasing demand for clean energy solutions. In the same year, BESS could cut global carbon emissions by over 100 million metric tons yearly.
The 12.5 GWh battery energy storage project between BYD and Saudi Arabia is a game-changer. It will improve energy stability, boost renewable energy adoption, and support Saudi Arabia’s Vision 2030 goals.
Energy storage is key to the clean energy transition. Projects like this show how important advanced battery technology is for a sustainable future. As global demand for energy storage grows, BYD’s leadership in innovation and large-scale deployment will continue to shape the future of renewable energy.
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BHP reported strong financial results for the half-year ending December 31, 2024. Demand for copper is rising due to renewables and electric vehicles (EVs). Thus, the company is focused on boosting copper production. Notably, BHP aims for sustainable mining that balances growth with environmental care and low emissions.
BHP Reports Strong Half-Year Financial Results
The financial report showcased strong margins and steady cash flow led to an interim dividend of 50 US cents per share, totaling $2.5 billion.
BHP Chief Executive Officer, Mike Henry explained,
“BHP reported a strong financial performance for the half-year, underpinned by safe and reliable operations and rigorous cost control. The Group’s industry-leading margins and robust cash flow enabled the Board to determine an interim dividend of 50 US cents per share – a total of US$2.5 billion. The strength of the result demonstrates BHP’s operational resilience and its ability to perform through the cycle, with standout production performances in the half from Escondida, WAIO and BMA. WAIO has maintained its lead as the lowest-cost iron ore producer globally, a testament to our ongoing work to drive productivity at our operations.”
Production Performance:Escondida, Western Australia Iron Ore (WAIO), and BHP Mitsubishi Alliance (BMA) achieved high outputs. WAIO remains the world’s lowest-cost iron ore producer.
Growth Investments: BHP invested $3.2 billion in potash and copper. It completed a $2.0 billion joint venture with Lundin Mining in Argentina.
Financial Strength: Attributable profit reached $4.4 billion. Copper production rose by 10%. Revenue dropped by $2.0 billion due to lower iron ore and steelmaking coal prices.
Capital and Exploration: Total spending reached $5.2 billion. This aimed at potash and copper for medium-term growth.
Source: BHP
Market Outlook
Global commodity demand is strong despite economic uncertainties. China shows early signs of recovery, while the US and India continue to drive growth. BHP expects demand to grow due to several factors. These include population growth, urbanization, and the energy transition. Also, more AI and data center projects will boost demand for copper.
Global seaborne demand for iron ore fell slightly. China’s steel production stayed steady due to infrastructure and energy projects. This increased supply has raised stocks at Chinese ports.
Commodity Analysis
Copper
Production increased by 10% to 987 kt. The mean achieved rates rose by 9%. The market is tight due to supply issues. BHP expects annual copper demand to grow from 32 Mtpa to over 50 Mtpa by 2050. This growth is driven by infrastructure, renewable energy, and digital expansion.
Attractive internal options to grow in copper for value: organic projects benchmark well vs. current market valuations of listed copper producers
Source: BHP
Iron Ore
Produced 131 Mt of while WAIO’s output remained strong at 128 Mt. The company retains its position as the lowest-cost major producer. Developing regions that are increasing steel production will drive long-term demand, requiring more investment to maintain supply.
BHP focuses on disciplined capital allocation and sustainable growth. Capital expenditure is set at $10 billion for FY25, rising to $11 billion annually in the medium term. Key growth projects include Jansen, Escondida, Copper South Australia, and WAIO.
Capital spent by commodity: Increasing growth spend with continued flexibility to adjust spend for value
Source: BHP
BHP’s Roadmap to Cutting Carbon Emissions and Achieving Net Zero
The company has always aimed for better efficiency and invests in important commodities for the future. It also aims to cut greenhouse gas (GHG) emissions and has a clear strategy forward. Let’s see what its sustainability report reveals about its net zero plans.
Emissions Reductions
Aims to cut Scopes 1 and 2 GHG emissions by at least 30% by 2030 from the 2020 baseline and become net zero by 2050.
In 2024, operational emissions dropped by 32%, reaching 9.2 MtCO₂-e from the 2020 baseline. However, Scope 3 emissions, mainly from customer product use, were 377.0 MtCO₂-e.
Source: BHP
Non-Reliance on Carbon Credits
BHP has a clear plan to cut emissions by 2030. They aim for real reductions instead of relying on carbon credits. The company commits to reducing operational GHG emissions through direct actions. Voluntary credits may be used for unexpected shortfalls.
They prioritize low-carbon infrastructure to cut emissions like new facilities and projects with cleaner technologies. The company also reviews acquisitions for their environmental impact, ensuring they stay on track with carbon reduction goals and long-term sustainability plans. Furthermore, they have a strict carbon budget for emissions reductions.
Roadmap to Net Zero by 2050
Beyond 2030, BHP’s net zero strategy includes:
Electrifying Mining Equipment: Diesel-powered vehicles will be replaced with electric alternatives.
Expanding Renewable Energy: The company plans to switch all grid-connected sites to 100% renewable electricity by FY2030, if possible.
Cutting Methane Emissions: This involves better monitoring and new gas drainage tech for coal mines.
Addressing Scope 3 Emissions
BHP knows that Scope 3 emissions come from suppliers and customers. This makes them harder to manage. However, the company works with partners to reduce these emissions. In steelmaking, BHP supports technologies that lower carbon output. It encourages suppliers to follow net zero plans.
BHP supports cleaner shipping options. This includes using fuels with lower GHG emissions and enhancing vessel efficiency. These steps help lower transport emissions. The goal is to create a more sustainable industry.
Source BHP
Advancing Carbon Capture in Steel Production
A major step toward reducing steel industry emissions is the installation of a carbon capture unit at the Ghent blast furnace. In collaboration with ArcelorMittal, Mitsubishi Heavy Industries, and Mitsubishi Development, this initiative marks progress toward carbon-free steel production.
BHP aims to lead in sustainable mining. It sets clear targets, invests wisely, and forms industry partnerships. Additionally, they are prepared to face market challenges and promote long-term growth in a low-carbon future.
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