The world’s climate leaders will meet in Antalya, Türkiye, from November 9 to 20, 2026, for COP31. The annual United Nations climate conference brings together governments to negotiate how to limit global warming, cut greenhouse gas emissions, and help countries deal with climate change.

This year’s conference comes at a critical time. Countries have made climate commitments, but global emissions remain too high to keep the world on a path toward limiting warming to 1.5°C. Governments also face growing pressure to provide climate finance and turn their promises into real action.

For carbon markets, COP31 could bring further progress on international carbon trading, climate finance, and the rules that govern carbon credits under the Paris Agreement.

Here is what you need to know about COP31, the main issues on the agenda, and why the outcomes matter for carbon markets and the global energy transition.

What Is COP31?

COP31 stands for the 31st meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC). The convention is an international treaty adopted in 1992 that provides the basis for global climate negotiations.

The annual COP meetings bring together almost every country to discuss how to respond to climate change. Governments negotiate agreements, review progress, and decide on further action to reduce emissions and support countries facing climate impacts.

COP31 is also linked to two other formal meetings. These are the Kyoto Protocol parties’ 21st meeting and the Paris Agreement parties’ eighth meeting.

The Paris Agreement, adopted in 2015, aims to keep global warming well below 2°C and pursue efforts to limit it to 1.5°C above pre-industrial levels. Countries submit their climate plans, called Nationally Determined Contributions (NDCs). These plans outline their targets and actions to cut emissions and tackle climate change.

COP meetings help countries review these plans, negotiate common rules, and agree on ways to strengthen global climate action. However, COP decisions do not automatically force every country to adopt the same domestic policies. Countries must implement their commitments through their own laws, regulations, and national plans.

When and Where Is COP31?

COP31 will take place from November 9 to 20, 2026, in Antalya, Türkiye, at the Antalya Expo Center. Türkiye will host the conference, while Australia will lead the formal negotiations. This shared arrangement followed discussions between the two countries over hosting the event.

Türkiye’s Environment, Urbanisation and Climate Change Minister, Murat Kurum, has been nominated as COP31 President. Australia’s Climate Change and Energy Minister, Chris Bowen, will serve as President of Negotiations.

The two roles have different responsibilities. Türkiye will host the conference and lead the presidency’s broader agenda. Australia will steer the formal negotiations between countries.

A World Leaders’ Summit is scheduled for November 11 and 12. It will allow heads of state and government to discuss climate priorities and build political support for the negotiations.

The conference will also bring together scientists, businesses, investors, Indigenous Peoples, youth groups, and civil society organizations. These groups can share research, announce initiatives, and encourage action, although formal decisions are negotiated by governments.

Why Is COP31 Important?

COP31 takes place as the gap between current climate commitments and the action needed to limit warming remains large. The UN Environment Programme’s Emissions Gap Report 2026 estimates that the world could face around 2.6°C of warming this century if countries fully implement their current NDCs. That would be well above the Paris Agreement’s 1.5°C goal.

The report states that global greenhouse gas emissions must drop by 45% by 2035. They need to decrease by 69% by 2040, compared to 2025 levels. This change is crucial to keep warming under 1.5°C.

By comparison, full implementation of current NDCs would reduce emissions by only 11% to 15% by 2035, relative to 2025 levels. These estimates show why countries face pressure to strengthen their climate plans and speed up implementation. They also show that meeting existing commitments alone will not be enough to put the world on the report’s lowest-overshoot pathway.

COP31 is expected to focus on turning commitments into practical results. The main issues are:

• Cutting emissions,
• Adapting to climate impacts,
• Financing climate action in developing countries, and
• Supporting a fair transition for workers and communities.

The conference will also continue work on the Global Stocktake, the process used to assess collective progress under the Paris Agreement. The first stocktake concluded at COP28 in 2023. The second process begins with gathering information in 2026 and is expected to continue through 2028.

The findings will help countries assess whether global climate action is on track and what further measures may be needed.

What Are the Main Topics at COP31?

Several issues are expected to shape the negotiations and related climate initiatives.

1. Cutting greenhouse gas emissions

Countries will discuss how to reduce emissions from energy, industry, transport, buildings, and other sectors. This includes expanding clean energy, improving energy efficiency, and reducing reliance on fossil fuels.

Türkiye’s presidency has also highlighted cleaner industry, electrification, circular economy measures, and more resilient cities as priorities for wider climate action.

2. Climate finance

Developing countries need funding to cut emissions, adapt to climate impacts, and strengthen infrastructure. Negotiations will address how this money can be mobilized and delivered, including the roles of public funding, private investment, and international cooperation.

A key challenge is ensuring that financial commitments lead to actual funding for projects and communities.

3. Adaptation and resilience

Countries are already facing the effects of climate change, including extreme heat, floods, droughts, and rising sea levels. COP31 will continue discussions on helping vulnerable countries prepare for these impacts and measure progress on adaptation.

4. A fair energy transition

Governments must consider how to reduce emissions while protecting workers, communities, and economies that depend on carbon-intensive industries. The pace and cost of the transition remain major points of disagreement between countries.

5. International cooperation

Countries will continue discussions on how to work together to meet climate goals. This includes carbon markets, technology sharing, financial support, and other forms of cooperation under the Paris Agreement.

What Could COP31 Mean for Carbon Markets?

Carbon markets allow companies or governments to support emissions reductions or removals through carbon credits. Each credit generally represents one metric tonne of carbon dioxide equivalent reduced or removed, subject to the rules of the program that issues it.

At COP31, talks will focus on carbon markets. There will be key discussions about climate finance and Article 6 of the Paris Agreement. Article 6 provides rules for countries to cooperate in meeting their climate targets, including through the transfer of approved emissions reductions.

There are two main carbon trading routes under Article 6.

Article 6.2: Trading Between Countries

Article 6.2 allows countries to transfer authorized emissions reductions to other countries under bilateral or other cooperative arrangements. For example, one country could support a renewable energy or methane reduction project in another country and use the resulting authorized reductions toward its climate target, subject to the agreed rules.

These transfers require careful accounting. When a country transfers an authorized reduction for another country to use, it generally must make a corresponding adjustment to avoid both countries counting the same reduction toward their climate targets.

At COP31, discussions are expected to include the reporting systems, technical reviews, registries, and funding needed to support these arrangements. These systems help countries track transfers and show how they account for the emissions reductions.

Article 6.4: The UN Carbon Crediting Mechanism

Article 6.4 established a United Nations-supervised carbon-crediting mechanism. It is designed to issue credits for eligible activities that reduce or remove greenhouse gas emissions under approved methodologies and rules.

The mechanism is now known as the Paris Agreement Crediting Mechanism (PACM).

Work on methodologies and the transition of eligible activities from the former Clean Development Mechanism continues. COP31 will provide an opportunity to review progress and discuss the resources needed to operate the system.

However, carbon markets are not the only focus of COP31, and the conference is not expected to rewrite the entire Article 6 rulebook. The main challenge is putting the existing rules into practice and ensuring that the supporting systems work effectively.

Why Climate Finance Matters to Carbon Markets

Carbon markets could help direct funding toward emissions-reduction projects, including renewable energy, methane control, forest protection, and carbon removal. However, they cannot replace all forms of climate finance.

Credit purchases depend on project quality, demand, and the rules governing how credits can be used. Many climate needs, particularly adaptation and public infrastructure, may not generate credits that can be sold.

Abatable’s analysis ahead of COP31 highlights the need to fund the systems that support Article 6 cooperation, including reporting, registries, technical reviews, and capacity-building. It also points to wider debates over how countries should finance climate action.

For carbon market participants, the practical developments to watch include new bilateral agreements, national rules for authorizing credits, updates on Article 6 implementation, and efforts to strengthen the credibility of international transfers.

These developments could influence future market access and demand, although their effects will depend on what governments agree and how they implement those decisions.

What Is the COP31 Action Agenda?

Alongside formal negotiations, the COP31 presidency will promote a wider Climate Action Agenda. This is a separate but related track that brings together businesses, cities, investors, civil society, and other groups to encourage practical climate action.

The Action Agenda focuses on areas such as clean energy, green industry, circular economy measures, sustainable agriculture, resilient cities, and climate finance.

The presidency has also highlighted three headline targets: increasing electricity’s share of global final energy demand from just over 20% to 35% by 2035, halving the growth in global waste by 2035, and reducing energy-use intensity in buildings by at least 25% by 2035.

These are priorities for mobilizing action, not automatically binding targets for every country. Their impact will depend on the commitments made by participants, the resources available, and whether progress can be measured.

The distinction matters because announcements made alongside COP negotiations do not have the same status as formal decisions adopted by governments. The Action Agenda can help businesses and other groups contribute to climate solutions, while the negotiations set the international framework for cooperation.

What Should You Watch During COP31?

For people following climate policy and carbon markets, several developments will be worth watching.

• National climate plans: Whether more countries strengthen their emissions targets and explain how they will meet them.
• Climate finance: Whether governments make progress on funding for emissions cuts, adaptation, and vulnerable communities.
• Article 6 implementation: Whether countries advance the systems needed to authorize, track, and report international carbon-credit transfers.
• Carbon market cooperation: Whether countries announce new agreements or rules that create clearer paths for approved credit transfers.
• Action Agenda commitments: Whether companies, investors, and other organizations announce measurable projects and funding rather than broad ambitions alone.

These developments will help show whether COP31 can move climate action forward. However, announcements alone will not prove that emissions are falling. The real test will be whether governments and businesses deliver measurable results over time.

The Bottom Line

COP31 will bring governments and other climate stakeholders together in Antalya from November 9 to 20, 2026, to address emissions, climate finance, adaptation, and international cooperation.

For carbon markets, the conference is an important opportunity to advance the implementation of Article 6 and discuss how carbon finance can support wider climate goals. It is also a chance to strengthen the systems that make international transfers transparent and accountable.

Still, carbon markets are only one part of the global climate response. Their contribution will depend on credible emissions reductions, clear accounting, effective oversight, and real demand for high-quality credits.

Ultimately, COP31 will be judged not only by the decisions and announcements made in Antalya, but by whether countries and other participants turn them into lasting climate action.

• READ MORE: COP31 Handbook Targets $20 Billion in Climate Finance for Vulnerable Countries

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Palantir Technologies reported another strong quarter as demand for its artificial intelligence (AI) software continued to grow. Revenue nearly doubled in the third quarter of 2026, and the company raised its full-year outlook. Yet, Palantir stock fell after the results as investors weighed its growth against slower contract growth and high expectations.

The financial results highlight Palantir’s growing role in the AI market. However, its expansion also raises an important question: Can the company keep growing while managing the environmental impact of its business?

AI software depends on large computing systems, data centers, and electricity. As more businesses and government agencies use these tools, the demand for computing power can increase. This makes energy use and greenhouse gas emissions important issues for fast-growing technology companies.

Palantir has set emissions reduction goals and reports its carbon footprint each year. Its latest emissions report shows progress against its 2019 baseline, but also a small increase in total emissions.

Palantir Revenue Nearly Doubles as AI Demand Grows

Palantir reported third-quarter revenue of $2.3 billion, up 96% from the same period in 2025. It was the company’s first quarter with revenue above $2 billion.

Its U.S. commercial business was a major growth driver. Revenue from this segment jumped 148% year over year to $984 million. For the first time, it was higher than U.S. government revenue, which reached $953 million, up 96%.

The company also reported net income of $1.1 billion and adjusted free cash flow of $1.2 billion. Both GAAP and adjusted earnings per share came in at $0.44.

Despite beating earnings estimates and raising its full-year outlook, Palantir shares fell after the announcement. The stock closed at $178.34 on November 2, down 3.08% during the regular trading session. It then dropped about 6% in premarket trading on November 3, reaching around $167.66.

The decline came as investors focused on slower growth in new contracts. Palantir’s total contract value reached $2.918 billion in the third quarter, up just 6% from a year earlier, compared with 49% growth in the previous quarter. U.S. commercial contract value also slowed, rising 11% year over year.

Investors also weighed the company’s high stock valuation and the slower sequential revenue growth implied by its fourth-quarter forecast. The reaction shows that even strong earnings and higher guidance may not satisfy investors when expectations for future growth are already high.

AI Growth Brings Greater Energy and Emissions Questions

Palantir develops software that helps organizations collect, analyze, and use large amounts of data. Its Artificial Intelligence Platform, or AIP, allows businesses and government agencies to use AI tools in their operations.

Alex Karp, Co-Founder and Chief Executive Officer of Palantir Technologies, remarked:

”The Sovereign AI moment is purpose-built for Palantir. Our products—from Foundry and Ontology to AIP with its ontologized, fine-tuned open-weight models—ignite a self-improvement loop that joins and aligns the workflow with its optimal model and us with our partners. This dialectic drives transformational value for both Palantir and our partners—and works only in artistic combination. Each becomes stronger as the sum becomes more powerful.”

As demand for these services grows, so does the need for computing resources. AI systems require powerful computer chips, servers, data centers, and supporting infrastructure. These facilities need electricity to run and often require cooling systems to manage heat.

The climate impact depends partly on where that electricity comes from. Data centers powered by fossil fuels can produce more greenhouse gas emissions than those using renewable or other low-carbon energy sources.

Palantir is not a data center operator on the same scale as major cloud providers. However, its business depends on computing infrastructure, and its own emissions reporting covers more than its direct operations. Its supply chain, business travel, and purchased services also contribute to its carbon footprint.

• RELATED: AI’s Environmental Cost: Data Centers Now Rival Entire Nations in Energy, Water, and Land Use

Palantir’s Global Emissions Rise 18% in 2025

Palantir’s latest carbon report shows that its global greenhouse gas emissions increased in 2025, reversing the progress reported in the previous year.

• The company recorded 27,222 metric tons of gross emissions across Scopes 1, 2, and 3 in 2025. This was an 18% increase from 23,018 metric tons in 2024. Palantir linked much of the rise to higher business travel.

Despite the increase, its 2025 emissions remained about 18.5% below its 2019 baseline of 33,400 metric tons. However, the company said its latest total was above the path set by its target to reduce absolute emissions by an average of 4.2% each year over ten years from the 2019 baseline.

Scope 3 emissions made up most of Palantir’s footprint in 2025, reaching 25,277 metric tons. Scope 2 emissions accounted for 1,922 metric tons, while Scope 1 emissions were 23 metric tons.

The company also reported an emissions intensity of about six metric tons of CO2e per employee. This was 57% lower than its 2019 level, showing that emissions per employee have fallen even as its total emissions increased.

Palantir follows the Greenhouse Gas Protocol, which groups corporate emissions into three categories:

• Scope 1: Direct emissions from sources a company owns or controls.
• Scope 2: Emissions linked to purchased electricity, heating, and cooling.
• Scope 3: Other indirect emissions across a company’s value chain, including business travel, suppliers, and purchased goods and services.

Scope 3 emissions can be difficult to manage because they come from activities outside a company’s direct control. For Palantir, business travel was the largest source of these emissions in 2025. Air travel, in particular, accounted for a significant share of its reported footprint.

Carbon Credits Help Address Remaining Emissions

Palantir purchased 30,000 metric tons of carbon credits in 2025, more than its reported gross emissions of 27,222 metric tons. The company said it plans to apply the remaining credits to future years, where applicable.

The credits supported five projects in Brazil, Chile, and France through its partners CNaught and Cool Effect. These projects focus on reducing or destroying landfill methane, ozone-depleting substances, and nitrous oxide.

Palantir uses carbon credits to support its goal of achieving carbon neutrality each year. However, credits do not replace direct emissions cuts. Their climate value depends on whether the claimed reductions or removals are real, measurable, and properly verified.

The company also says its emissions data are not independently verified by a third party, an important qualification when assessing its reported climate progress.

AI Could Help Other Industries Reduce Emissions

AI can help businesses improve energy efficiency, manage electricity grids, forecast renewable power output, and reduce industrial waste.

Palantir’s software helps organizations use data to improve operations and resource management. The company says its model-agnostic approach allows customers to choose the AI models they use, and that it does not own or operate data centers.

The firm further noted that its growing focus on AI has not meaningfully increased its own carbon emissions. However, the report does not provide a separate figure for emissions linked to AI activity. AI’s potential climate benefits do not automatically offset the emissions from developing and running the technology.

Its overall impact depends on energy use, software efficiency, and measurable emissions savings from customer applications.

Can Palantir Maintain Climate Progress as AI Demand Grows?

Palantir’s latest earnings show strong demand for its AI software, but its 2025 carbon report presents a more mixed picture. Gross emissions remained below the 2019 baseline but rose 18% in 2025, largely due to higher business travel.

The company also bought more carbon credits than its total reported emissions. While this supports its carbon neutrality goal, it does not replace the need to reduce emissions across its own operations and value chain.

As AI adoption grows, investors may need to look beyond financial results. Energy use, business travel, supply chain emissions, carbon credit quality, and progress toward climate targets are also important measures of long-term performance.

Palantir’s challenge is to keep growing its AI business while bringing gross emissions back toward its reduction target.

• READ MORE: Nvidia’s $2B Bet in AI: Powering Innovation with Nebius and Palantir While Tackling Energy Impact

The post Palantir (PLTR) Stock Falls Despite 96% Revenue Surge, Can Its Climate Goals Keep Up? appeared first on Carbon Credits.

Zefiro Methane Corp. (CBOE CA: ZEFI) is preparing to re-enter the carbon credit market as a new methodology for plugging abandoned oil and gas wells nears completion. The company has supported the development of a new protocol by carbon certification firm Isometric, which could allow Zefiro to generate carbon credits from methane reductions achieved through its well-plugging operations.

In the press release, Zefiro said it helped fund and provide technical input for Isometric’s Orphaned Well Plugging (OWP) Protocol. The draft methodology is currently open for public consultation and could create another revenue stream for the company once finalized.

The opportunity is significant. According to the International Energy Agency’s (IEA) Global Methane Tracker 2026, abandoned oil and gas wells released around 3.5 million tonnes (Mt) of methane worldwide in 2025. The US accounted for about 40% of these emissions.

The IEA estimates that nearly 8 million abandoned onshore oil and gas wells exist globally, including almost 4 million in the US. By plugging these leaking wells, companies such as Zefiro could reduce methane emissions and potentially generate carbon credits from verified reductions.

• ALSO SEE: Zefiro Methane’s First Carbon Offset Sale: Turning Orphan Wells Into Climate Assets

Zefiro Looks to Restart Carbon Credit Generation

Zefiro specializes in methane measurement, emissions reduction, and plugging abandoned and end-of-life oil and gas wells across North America. Its operations cover several stages of the well lifecycle, including methane monitoring, plugging and abandonment, site restoration, and carbon credit origination.

Through its operating subsidiary, Plants & Goodwin, Inc., the company serves government and private-sector customers across 15 U.S. states. Plants & Goodwin is a third-generation well services business with more than 50 years of operating history.

Why is P&G the contractor of choice for dozens of clients undertaking plug and abandonment projects?

The new Isometric protocol could help Zefiro turn some of its well-plugging work into verified carbon credits. These credits would represent methane emissions avoided by permanently sealing leaking orphaned wells.

Importantly, Zefiro has already established a presence in this market. The company completed the first-ever sale of carbon offsets generated under the American Carbon Registry’s orphaned well methodology. Institutional buyers included Mercuria Energy America and EDF Trading.

Now, the company expects to resume carbon credit origination under Isometric’s upcoming framework. It plans to use the same crews, drilling rigs, and in-house methane measurement capabilities that support its existing operations.

This approach could help Zefiro enter additional projects without building an entirely new operating structure. However, the company must wait for the protocol to be finalized and meet eligibility, verification, and certification requirements before generating credits under the new framework.

Financial Performance and Additional Business Plans

The opportunity comes as Zefiro continues to expand its methane abatement business. The company reported record fiscal 2026 revenue of US$42.5 million, up 31.1% from the previous financial year.

The company expects carbon credit revenue to complement this existing business. Since the new protocol only covers wells that public programs have not scheduled for plugging, carbon-financed projects could expand its addressable work rather than compete with government contracts.

Separately, Zefiro has re-engaged Germany-based Apaton Finance GmbH for investor marketing services. The agreement began on October 29, 2026, and has an expected term of approximately 12 months.

Apaton will provide online articles, digital and email marketing, video interviews, and investor conference presentations, with a primary focus on European markets. Zefiro will pay a monthly cash fee of €24,167, plus applicable taxes. No securities will be issued as compensation.

How the New Isometric Protocol Could Generate Carbon Credits

Isometric released its draft Orphaned Well Plugging Protocol on October 15, 2026. The 30-day public consultation period will remain open until November 14, 2026.

The protocol covers projects in the United States and Canada that permanently plug leaking orphaned oil and gas wells. These wells no longer have an operator responsible for their maintenance or closure, often because the original company became insolvent.

Many remain unplugged and can release methane into the atmosphere. Methane is a powerful greenhouse gas that contributes significantly to near-term global warming.

According to Isometric, the United States has more than 141,000 documented orphaned wells across 29 states, with potentially another 740,000 undocumented wells. Public plugging programs cannot address the entire backlog, creating an opportunity for private investment and carbon finance.

The new protocol aims to direct funding toward wells that release measurable amounts of methane.

To qualify, projects must demonstrate that:

• The well is genuinely orphaned and has no responsible operator.
• A public plugging program has not scheduled the well for closure.
• The well would not be plugged without carbon finance.
• Project developers have the necessary operating rights and landowner consent.

The methodology also introduces strict measurement and monitoring requirements. Developers must directly measure methane leakage at each well before plugging. They then estimate the emissions that would continue over a 20-year crediting period using a conservative decline rate.

Furthermore, projects must provide engineering evidence that enough gas remains in the underlying reservoir to support the projected leakage estimates.

Every plugged well must also pass a permanence check 12 to 18 months after closure. Isometric will withhold a portion of the carbon certificates until this check confirms that the well remains properly sealed.

These requirements aim to ensure that credits represent actual, measurable methane reductions rather than estimated benefits based on broad assumptions.

Zefiro Chief Executive Officer Catherine Flax commented:

“Zefiro helped demonstrate that institutional buyers will pay for methane reductions from plugged orphaned wells, and we are pleased to support Isometric’s work on a protocol grounded in direct field measurement. For our shareholders, the opportunity is additive. Carbon finance gives us a way to plug orphaned wells that no public program is scheduled to address, using the same crews and equipment that already serve our government and private-sector customers.”

Carbon Credit Market Creates Another Growth Opportunity

The proposed methodology arrives as institutional interest in carbon credits continues to grow.

• According to MSCI data cited in Zefiro’s announcement, capital committed and deployed in the global carbon credit market reached a record US$22 billion in 2025. Corporate buyers accounted for US$14.2 billion, more than three times the previous year’s amount.

Meanwhile, the value of carbon credit offtake agreements nearly tripled to US$12.3 billion.

MSCI estimates that the global carbon credit market could reach US$5 billion to US$20 billion by 2030. By 2050, its potential value could rise to between US$60 billion and US$270 billion.

However, buyers are becoming more selective. They increasingly want credits supported by reliable measurements, independent verification, and clear evidence of emissions reductions.

Methane reduction projects could benefit from this shift because they target a highly potent greenhouse gas and can demonstrate reductions through direct field measurements.

Zefiro believes the Isometric protocol could help attract institutional buyers looking for credible methane credits. The company has already sold credits to established energy trading firms, giving it some experience in commercializing these environmental assets.

What Comes Next for Zefiro?

The proposed Isometric protocol could open a new opportunity for Zefiro in the voluntary carbon market. Its existing well-plugging operations, methane measurement capabilities, and previous carbon credit sales give it an operating foundation to pursue this opportunity.

Nevertheless, the methodology remains in the consultation stage. Its final requirements, project eligibility, independent verification, and eventual credit issuance will determine how much revenue Zefiro can generate.

For now, the development offers a potential way to combine methane abatement with carbon finance. If the protocol moves forward successfully, Zefiro could use carbon credit revenue to support the plugging of more abandoned wells while expanding its presence in the growing market for verified emissions reductions.

• READ MORE: Zefiro Methane Revolutionizes Well Sealing: Uses AI & Blockchain to Stop Methane Leaks 

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Apple Inc. (NASDAQ: AAPL) reported record fourth-quarter revenue for fiscal 2026, supported by strong iPhone sales and growth in its Services business. The company also made further progress toward its 2030 carbon neutrality goal, with lower greenhouse gas emissions, more renewable energy across its supply chain, and greater use of recycled materials.

The company reported September-quarter revenue of $114.5 billion, up 12% from $102.5 billion a year earlier. Diluted earnings per share (EPS) increased 14% to $2.10, while net income reached $30.7 billion.

The results capped a strong fiscal year, with total revenue reaching $478.8 billion. Alongside its financial performance, the company continues to work on reducing emissions across its global operations and manufacturing network.

This progress is important because most of its carbon footprint comes from its supply chain and the production and use of its devices, rather than its offices and retail stores.

Apple Q4 Earnings: Revenue and Profits Rise

The September quarter showed strong growth across several business segments. Product sales reached $82.9 billion, compared with $73.7 billion in the same quarter last year. Services revenue increased to $31.6 billion from $28.8 billion, setting another quarterly record.

Here are the main financial highlights:

• Total revenue: $114.5 billion, up 12% year over year.
• Net income: $30.7 billion, compared with $27.5 billion a year earlier.
• Diluted EPS: $2.10, up 14% from $1.85.
• Gross margin: 47.9%, including an approximately one-percentage-point benefit from tariff refunds.
• Operating cash flow: Approximately $28 billion for the quarter.

For the full fiscal year, revenue increased 15% to $478.8 billion, while net income rose to $132.2 billion from $112 billion in fiscal 2025.

iPhone remained the biggest revenue contributor, generating $57.6 billion, up 17% year over year. Mac sales increased 24% to $10.8 billion, while Services revenue grew 10%.

iPad revenue declined 10% to $6.2 billion, and Wearables, Home and Accessories sales fell 8% to $8.3 billion.

The results show that the company continues to benefit from strong demand for its devices and a growing Services business. Its installed base of active devices also reached a new record across major product categories and geographic markets.

• EARLIER: Apple (AAPL Stock) Revenue Hits Record as Carbon-Neutral Goal Moves Closer

AAPL Stock Faces Pressure Despite Record Earnings

Despite beating market expectations, Apple shares came under pressure following the earnings announcement.

The stock closed at $338.32 on November 2, down 1.83% for the session. It fell further in premarket trading on November 3, reaching $321.53.

Investors are watching rising component costs and their potential impact on profit margins. The company expects gross margin to decline to 45%–46% in the December quarter, compared with 47.9% in Q4.

Higher memory chip costs and expenses linked to its artificial intelligence (AI) rollout could put additional pressure on profitability.

For the December quarter, management expects:

• Revenue growth of 7%–10% year over year.
• Services revenue growth of 8%–9%.
• Gross margin of 45%–46%.

This outlook suggests that strong product demand may not fully offset higher manufacturing and technology costs. Investors will also watch holiday-season sales and whether the company can maintain its revenue growth without sacrificing margins.

Emissions Down 60% Since 2015

Beyond its financial results, the 2026 Environmental Progress Report highlights progress toward Apple 2030, its goal to become carbon neutral across its entire value chain by 2030.

The company aims to reduce its gross greenhouse gas emissions by 75% from 2015 levels before addressing the remaining emissions through carbon removal solutions.

Its 2025 emissions data show meaningful progress:

This represents a reduction of approximately 60% in gross emissions over the decade.

The company also reported that its business revenue grew substantially over the same period, showing that it has reduced its overall carbon footprint while expanding its operations.

Its environmental programs focus on several areas:

• Switching suppliers to renewable electricity.
• Using recycled and lower-carbon materials.
• Improving manufacturing energy efficiency.
• Reducing emissions from transportation and product use.
• Supporting carbon removal and nature-based projects.

The challenge is to maintain these reductions as production expands and demand for its devices and digital services grows.

Scope 1, 2 and 3

For 2025, the report’s corporate emissions breakdown showed approximately 55,200 metric tons of Scope 1 emissions, 1,100 metric tons of market-based Scope 2 emissions and 513,700 metric tons of corporate Scope 3 emissions.

Product-related emissions are reported separately in the product life cycle breakdown. These reached approximately 14.71 million metric tons of CO2e.

Manufacturing was the largest contributor, accounting for 8.15 million metric tons. Product use added 4.12 million metric tons, while transportation contributed 2.37 million metric tons.

This difference highlights an important point: reducing emissions from offices and company facilities alone will not be enough. The company needs its manufacturing partners to make bigger changes.

Renewable Energy and Recycled Materials Gain Ground

Renewable electricity is one of the biggest parts of the company’s emissions reduction strategy.

Its corporate offices, retail stores, research facilities and data centers already use 100% renewable electricity. The next major step is helping suppliers make the same transition.

In 2025, suppliers in its clean energy program had more than 20 gigawatts (GW) of renewable energy capacity operational. These projects generated over 38 million megawatt-hours (MWh) of clean electricity.

The company is also working with manufacturers to improve energy efficiency and reduce emissions from industrial processes.

Other environmental milestones include:

• 30% recycled content: A record share of materials across all products shipped in 2025 came from recycled sources.
• 100% recycled cobalt: All batteries designed by the company now use recycled cobalt.
• 100% recycled rare earth elements: All magnets use recycled rare earth materials.
• Plastic-free packaging: Products now ship in fibre-based packaging.
• Water conservation: The company and its suppliers saved 17 billion gallons of freshwater in 2025.

These efforts help reduce demand for newly mined materials, limit manufacturing waste, and lower the environmental impact of its products.

                                      Resource Efficiency Data

Can Apple Keep Its Climate Goals on Track?

The latest results show that strong financial growth and emissions reductions can move forward together. However, the harder part of the climate transition lies across the global supply chain.

Manufacturing remains the largest source of product-related emissions, and moving suppliers toward clean electricity will require investment, reliable renewable power, and better industrial technologies.

The company has made measurable progress, but its 2030 target will depend on how quickly its manufacturing partners can reduce their dependence on fossil fuels.

For investors, the next question is whether it can maintain revenue growth, protect profit margins, and continue cutting emissions as its business expands.

The coming years will show whether its climate progress can keep pace with its ambitions for growth.

• RECENT: Apple (AAPL) Stock Climbs as iPhone 18 Pro Goes Greener. Can 40% Recycled Content Reduce Its Carbon Footprint? 

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