Global Clean Energy Growth Surpasses Demand: Is Net-Zero 2050 Closer Than Ever?

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clean energy

According to BloombergNEF’s New Energy Outlook 2025, global energy-related CO₂ emissions likely peaked last year because of record growth in clean energy. They predict a a structural decline in emissions might now begin.

Let’s explore how new energy trends and policies are shaping a cleaner future.

Global Clean Energy Growth Outpaces Demand

BloombergNEF’s updated Economic Transition Scenario (ETS) shows a major shift. For the first time, clean energy additions outpaced the growth in energy demand. This could lead to a 9% drop in global energy emissions by 2030, deepening to 13% by 2035 and 22% by 2050 compared to the 2024 peak.

Solar, wind, and hydropower are driving three-quarters of the emission cuts. The rest comes from transportation electrification, fuel switching, and better energy efficiency. While clean energy demand is booming, fossil fuel demand is starting a slow but steady decline, expected to continue over the next 25 years.

carbon emission

Big Players: U.S., China, and Europe Behind the Change

Major economies like the United States, China, and Europe are leading the way. Countries under the Paris Agreement are preparing new climate targets for 2035, due by early 2025.

BloombergNEF notes that Australia, the EU, and South Korea would need to slash emissions by around 70% relative to earlier baselines to stay on track for a 1.5°C limit. Meanwhile, India can still grow its emissions by 27% and remain aligned with global goals.

Early movers include Brazil and the UK, both submitting 2035 targets that match net-zero ambitions. Japan’s targets fall somewhere between BloombergNEF’s base and net-zero scenarios.

Furthermore, emissions are expected to rise in Vietnam and Indonesia, while Africa and the Middle East may see emissions plateau rather than sharply decline.

bllombergNEF emissions report

US Energy Transition Progress Amid Challenges

In the United States, energy-related emissions are forecasted to fall by 16% by 2035 and 29% by 2050 compared to 2024. Power sector emissions alone could decline by 22% by 2035.

However, sectors like road transportation are complicating the outlook. Rising travel and slower-than-expected EV adoption are pushing transport emissions higher. Meanwhile, oil refining and natural gas-fired electricity are expanding in some regions.

The clean energy buildout remains strong. US wind capacity is expected to double to 321 gigawatts by 2035, and solar could triple to 692 gigawatts.

clean energy emissions
Source: BloombergNEF

Additionally, battery storage will grow from 29GW to 175GW. Even so, wind forecasts were cut by 15% due to higher costs and project delays, while solar and battery forecasts rose by 15% and 28%. This was the outcome of lower costs and policy incentives from the Inflation Reduction Act.

There are risks ahead. New tariffs on imported solar panels and batteries could slow adoption, potentially cutting future battery installations by 27% and solar by 7% by 2050 if policies are not carefully managed.

Data Centers Driving Massive New Demand

One of the newest challenges is the exploding electricity demand from data centers, fueled by AI, cloud computing, and crypto mining. Global electricity needs are projected to rise 75% by 2050 from 2022 levels.

By 2035, data centers could consume 1,200 terawatt-hours (TWh) of electricity annually, rising to 3,700 TWh by 2050, which will be nearly 9% of total global electricity demand. And meeting this surge will require around 362GW of new power capacity by 2035.

Although most of this will come from renewables, fossil fuels could still supply about 64% of data center power by 2035 unless policies shift significantly.

Renewables and EVs Shaping the Future

Despite challenges like higher interest rates and rising costs, renewables and electric vehicles (EVs) are thriving. BloombergNEF projects that renewables will supply 67% of global electricity by 2050, up from 29% today. In contrast, fossil fuels’ share will shrink from 58% to just 25%.

Solar and wind alone will make up two-thirds of global electricity generation by 2050. In the transportation sector, annual EV sales are set to jump from 17.2 million in 2024 to 42 million by 2030.

  • By 2050, two-thirds of the global passenger vehicle fleet will be electric, cutting oil demand for road transport by about 40%.

Fossil Fuels: Slow Decline Begins

Fossil fuels are not disappearing overnight but are clearly losing ground, even though the Trump government has a strong inclination towards them.

Oil demand is expected to peak around 2032 at 104 million barrels per day, before declining to 88 million barrels per day by 2050. Aviation and petrochemical sectors will drive most of the remaining oil consumption.

More significantly, coal use is forecasted to fall rapidly as it loses out to cheaper and cleaner alternatives. From now until 2035, global coal consumption drops by 25%. More precisely, it can decline by about 2% in 2025, mainly due to the drastic phasing out in China

Gas demand will stay relatively steady through 2050 but will eventually start falling as renewables expand.

fossil fuel demand

This research shows that the surge in clean energy installations during 2024 may have triggered the first real, long-term decline in global emissions. Technologies like solar, wind, EVs, and improved energy efficiency are reshaping industries and creating real hope for a low-carbon future.

Challenges such as soaring data center demands, uneven sector transitions, and political uncertainty remain. However, with strong momentum behind clean energy and supportive policies, achieving net-zero emissions by 2050 is increasingly within reach. The green transition isn’t just coming, but it’s already here.

The post Global Clean Energy Growth Surpasses Demand: Is Net-Zero 2050 Closer Than Ever? appeared first on Carbon Credits.

Electra Raises $186 Million in Temasek-led Round to Advance Green Steel Production

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Electra Raises $186 Million in Temasek-led Round to Advance Green Steel Production

Electra, a clean iron startup based in Boulder, Colorado, has announced it raised $186 million in its latest Series B funding round. This new investment will help the company get closer to using its clean iron production technology. It is a key step to cut carbon emissions in the steel industry.

Sandeep Nijhawan, Electra CEO and co-founder, explained how important this funding is, saying:

“Electra’s technology can significantly reduce the steel industry’s carbon footprint, and we are thrilled to have the support of such a diverse group of investors who share our vision of reinventing ironmaking from the ground up. There is a growing demand for our clean iron and this funding puts us on the fast track to commercial-scale production.”

Who is Supporting Green Steel Production?

Founded in 2020, Electra’s goal is to change the way iron is made. Instead of using coal and extreme heat, which are common in traditional ironmaking, Electra uses electricity and renewable energy. This makes the process greener and helps reduce carbon emissions worldwide.

Capricorn Investment Group and Temasek Holdings led the Series B round. They are both key investors in sustainable technologies. Other participants included:

  • Breakthrough Energy Ventures,
  • Builders Vision,
  • Lowercarbon Capital,
  • Collaborative Fund,
  • S2G Investments, and
  • Earth Venture Capital.

With this round, Electra’s total funding reaches $214 million. The money will go toward building a demonstration plant and preparing for large-scale production by the end of the decade.

Several big companies from mining, steel, and consumer sectors also joined these financial investors in the round. These include BHP Ventures, Rio Tinto, Roy Hill, Nucor, Yamato Kogyo, Interfer Edelstahl Group, and Toyota Tsusho Corporation. Their involvement shows growing interest from the industry in Electra’s clean iron technology.

These strategic investors are not just providing funds—they are also future users of Electra’s product. Their participation shows they believe in the company’s ability to impact the global steel supply chain.

Turning Rust into Gold: How Electra’s Iron-Making Tech Works

Electra’s patented process uses a low-temperature method to extract iron from ore. The company skips coal-fired blast furnaces. Instead, it dissolves iron ore in an acidic solution and then removes waste materials.

electra green steel clean iron production
Source: Electra

Finally, it uses electricity to deposit pure iron onto metal sheets. This technique creates 99% pure iron and does not release large amounts of carbon dioxide.

Because the process uses electricity instead of fossil fuels, it can run on renewable energy sources like solar or wind. This makes it flexible and better for the environment. It also allows the use of lower-grade iron ore, including material that would usually be discarded as waste. This means fewer natural resources are wasted, and the need for high-purity ore is reduced.

The ability to remove co-products such as silica and alumina further improves the quality of the iron while protecting critical minerals. The technology is modular, meaning it can be scaled up or down to fit different production needs.

Tackling the Industry’s Biggest Carbon Problem

Steel production is responsible for about 7-9% of global carbon dioxide emissions. A large part of this comes from the traditional way iron is made. The industry emits about 3.7 billion tonnes of CO2 in 2024.

steel industry carbon emissions net zero
Source: World Economic Forum

By offering a cleaner alternative, Electra is helping the steel industry meet growing climate goals.

One area where this shift is especially important is in the automotive sector. Car manufacturers are looking for ways to lower the carbon footprint of their vehicles, including the materials used to build them. Steel is a major component in vehicles, and clean iron is key to making low-carbon steel.

Noah Hanners, executive vice president for sheet products at Nucor, one of the largest U.S. steelmakers, explained how Electra fits into this trend.

“We’re seeing a shift in the automotive sector toward increased use of steel made via EAF [electric arc furnace] technology, driven by OEMs’ [original equipment manufacturers] focus on lowering the embedded carbon footprint of their vehicles…”

Nucor, which aims to reach net-zero steelmaking by 2050, sees Electra’s product as a valuable feedstock for its EAF operations. More steelmakers are using electric arc furnaces to cut reliance on coal-based methods. As a result, demand for sustainable iron is likely to increase.

According to the International Energy Agency, the steel industry can cut carbon emissions toward net zero via these means:

net zero methods for steel production

From Prototype to Production

The $186 million in new funding will be used to build Electra’s demonstration plant in Colorado, which is set to begin construction later this year. This plant will help the company make clean iron on a bigger scale. It will also let them test the product with partners and collect data for future development.

The demonstration plant is a key step toward the company’s goal of opening a full-scale commercial facility by the end of the decade. Once complete, Electra’s clean iron could be used in a wide range of industries, from construction to transportation to consumer electronics.

The company has signed Memoranda of Understanding with big customers like ZF Group and Interfer Edelstahl Group. This shows there is a market demand for its clean iron. These agreements include steel and battery uses, showing a strong interest in low-carbon materials.

Clean Iron’s Role in a Net-Zero World

Electra’s latest funding round marks an important milestone for the clean materials industry. As countries and companies continue to look for ways to reduce emissions, technologies like Electra’s could play a major role in reshaping global supply chains.

By replacing coal and high heat with renewable electricity and chemistry, Electra offers a cleaner, smarter way to make iron. With strong support from investors and industry leaders, the company is well-positioned to help decarbonize one of the world’s most emitting industries.

The post Electra Raises $186 Million in Temasek-led Round to Advance Green Steel Production appeared first on Carbon Credits.

P&G Doubles Down on Financial Growth with Strong Q1 Results and Net-Zero Goals

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P&G Doubles Down on Financial Growth with Strong Q1 Results and Net-Zero Goals

Procter & Gamble (P&G), one of the world’s largest consumer goods companies, has released its financial results for the 3rd quarter of 2025. Alongside solid performance across key business segments, the company is also making steady progress on its climate and net-zero goals. 

Let’s take a closer look at how the company performed financially and environmentally.  

P&G Reports Strong Q1 2025 Financial Results

Procter & Gamble reported net sales of $19.8 billion, which reflects a 2% decrease compared to the same period last year. This growth was driven mainly by higher pricing across product categories, even though global volume remained flat.

Organic sales, which remove the effects of currency fluctuations and acquisitions, drop 1%. P&G’s Chairman, President, and CEO, Jon Moeller, said the results show the company’s “continued commitment to balanced growth and value creation.”

The company reaffirmed its guidance for the full fiscal year 2025. It expects organic sales growth of 4% to 5%. Core earnings per share should grow by 2% to 4%.

The company’s Health Care and Fabric & Home Care segments saw the largest gains. Health Care organic sales remained flat, and Fabric & Home Care rose 5%. However, sales in Beauty and Grooming were flat or down due to weaker demand in some global markets.

P&G returned a total of $3.8 billion to shareholders, comprising $2.4 billion in dividends and $1.4 billion in share repurchases. ​

For the full fiscal year 2025, P&G anticipates distributing approximately $10 billion in dividends and executing $6 to $7 billion in share buybacks, demonstrating its ongoing commitment to delivering value to shareholders. ​

P&G Q3 2025 financial results
Source: Chart from uk.investing.com

P&G’s Climate Commitment: Net Zero by 2040

While P&G is known for products like Tide, Pampers, and Gillette, the company is also working to become a sustainability leader. One of its biggest climate goals is to reach net-zero greenhouse gas emissions across operations and supply chains by 2040.

P&G net zero roadmap
Source: P&G

P&G made a Climate Transition Action Plan. It aims to cut emissions from factories, logistics, raw materials, and product use. These areas make up the majority of the company’s carbon footprint.

P&G uses a “science-based” approach that matches the Paris Agreement, which aims to limit global warming to 1.5°C.

  • The company plans to cut its emissions by at least 65% by 2030. Then, it will neutralize the remaining emissions with reliable carbon removal methods by 2040.

The plan includes both short-term and long-term actions for P&G to reach net zero. By 2030, the company aims to:

  • Cut Scope 1 and 2 emissions (from its own operations) by 65% versus 2010 levels
  • Reduce Scope 3 emissions (from its supply chain and product use) by 40% per unit of production
  • Power all global plants with 100% renewable electricity
P&G carbon GHG emissions
Source: P&G * Estimated from fiscal year 2024 finished product production volumes and average weights. ** Total GHG emissions = Scope 1 + Scope 2. Scope 2 emissions calculated using a market-based method. *** Market-based Scope 2 GHG emissions. Note: Location-based Scope 2 emissions in 2024 were 2,228 metric tons (x1,000). ****P&G reports biogenic emissions separately from Scope 1 emissions. This includes biogenic CO2 from the use of biogas and biomethane delivered via the natural gas pipeline where 3rd party certified energy attribute certificates are provided by the supplier.

The company has already reached an important milestone: over 97% of the electricity used in its manufacturing plants now comes from renewable sources. In the U.S., all plants are already using 100% renewable electricity.

Cutting Emissions Across Products and Supply Chains

Most of P&G’s emissions—over 85%—come from what happens outside its own factories. This includes the carbon footprint from suppliers, packaging, shipping, and especially how people use and dispose of its products.

P&G scope 3 emissions
Source: P&G

P&G is working with suppliers to cut emissions toward net-zero goal. They are using low-carbon materials and more recycled content. They also aim to boost energy efficiency. For example, P&G has started using green hydrogen and bio-based materials in some of its products.

The company also launched a “50L Home Coalition,” working with other partners to redesign household products that reduce water and energy use. For instance, Tide cold-water detergents help save electricity by reducing the need for heated water.

P&G also created a Product Emissions Roadmap, which outlines steps to reduce product-related emissions over time. Some of these steps include:

  • Redesigning packaging to use less plastic and more recycled content
  • Shifting to compact product formats (like pods or bars) to lower shipping emissions
  • Improving formulas so products work better in cold water or with shorter wash cycles

These changes aim to reduce environmental impact. They won’t affect product performance or customer satisfaction.

Beyond Carbon Reduction: Investing in Carbon Removal and Innovation

Even with major efforts to reduce emissions, P&G knows that some emissions are hard to eliminate to achieve net zero. That’s why the company also plans to invest in carbon removal solutions to balance out what it can’t cut.

P&G is exploring new technologies like direct air capture (DAC) and natural carbon sinks (such as forests and soils) to remove CO₂ from the atmosphere. The company is also taking part in industry groups and pilot projects to test these solutions at scale.

In 2023, P&G became one of the founding members of the Supplier Leadership on Climate Transition (Supplier LoCT), which helps smaller suppliers reduce emissions and track progress. This creates a ripple effect throughout its supply chain.

The company is also supporting research into sustainable product design, low-emission logistics, and climate-resilient manufacturing. P&G says these investments will help them “decarbonize not just our operations, but the entire value chain.”

Tracking Progress and Staying Transparent

To make sure its climate goals are credible, P&G reports its progress publicly every year. It uses third-party auditing. It also aligns with global frameworks like the Science-Based Targets initiative (SBTi) and the Task Force on Climate-related Financial Disclosures (TCFD).

In its latest sustainability report, P&G shared that it has already reduced Scope 1 and 2 emissions by 60% since 2010. The company made good progress in cutting supply chain emissions. It plans to share more detailed Scope 3 breakdowns in future reports.

CEO Jon Moeller says that:

“Caring for our consumers and our planet is core to all of us at P&G…There is no action too small, and no vision too big, as we all work together to preserve our shared home for generations to come.”

Balancing Business Growth with Climate Action

Procter & Gamble’s Q1 2025 results show strong business performance, with steady growth in sales and profit. But behind the numbers, the company is also making major moves toward climate leadership.

By aiming for net zero by 2040 and reducing emissions across its supply chain, products, and operations, P&G hopes to lead the way in sustainable business practices. The company uses science, technology, and partnerships to achieve its climate goals.

As pressure mounts for companies to deliver on their environmental promises, P&G is working to prove that a cleaner, greener future is also good for business.

The post P&G Doubles Down on Financial Growth with Strong Q1 Results and Net-Zero Goals appeared first on Carbon Credits.

Boeing’s Financial Gains and Green Goals Take Flight in Q1 2025

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Boeing's Financial Gains and Green Goals Take Flight in Q1 2025

Boeing, one of the world’s largest aerospace manufacturers, shared its first quarter (Q1) 2025 financial results this week, revealing signs of improvement despite continued challenges. Meanwhile, the company reaffirmed its commitment to the environment. Boeing has long-term plans to cut emissions toward net zero and promote sustainability in aviation.

Let’s look at how the company performs this quarter and its carbon emission reduction strategy. 

Earnings on the Ascent: Boeing Narrows Its Losses

In Q1 2025, Boeing reported a loss of 49 cents per share. While still a loss, this was an improvement from the $1.13 per share loss reported in the same quarter of 2024. The company’s total revenue rose 18%, reaching nearly $19.5 billion. 

Analysts expected a loss of $1.18 per share and revenue of $19.38 billion. So, these results came as a positive surprise for investors.

Boeing’s CEO, Kelly Ortberg, noted that the company is beginning to see improvements in its operations due to a focus on safety and quality. He noted that,

“We are seeing early positive results and remain committed to making the fundamental changes needed to fully recover.” 

Commercial airplane revenue grew significantly, increasing 75% to $8.15 billion. Boeing delivered 130 commercial aircraft during the quarter, a 57% increase compared to the same period last year. Part of this growth came from the company ramping up production after the previous year’s temporary grounding of its 737-9 aircraft.

The company aims to produce 38 of its 737 jets per month by the end of 2025. The 787 production line, which had stabilized at 5 jets per month earlier this year, could rise to 7 per month later in the year. 

Boeing’s 777X program is now in an important testing phase with the FAA. The first delivery of the 777-9 is set for 2026.

Boeing Q1 2025 performance
Source: AlphaStreet

Jet Set: Orders Fly In as Production Ramps Up

Boeing secured 221 net commercial airplane orders during Q1, including:

  • 20 777-9 jets
  • 20 787-10 jets
  • 50 737-8 jets

This strong order activity boosted the company’s commercial backlog to over 5,600 aircraft, with a total value of about $460 billion.

In terms of cash flow, Boeing reported a free cash outflow of $2.29 billion. While still negative, it is better than the $3.93 billion outflow from the same period last year.

Boeing made headlines when President Trump chose them in March to build the new F-47 sixth-generation fighter jet. This decision replaced Lockheed Martin in this important role. This deal, however, is not yet included in the backlog figures.

Cash and Core: Boeing Sells Digital Unit for $10.6B Boost

In a significant move, Boeing announced a $10.55 billion all-cash deal with Thoma Bravo, a private equity firm. The agreement includes the sale of the company’s Digital Aviation Solutions business, which contains several key software platforms: Jeppesen, ForeFlight, AerData, and OzRunways.

Boeing plans to keep the parts of its digital business that provide aircraft and fleet data for both commercial and defense customers. These tools support diagnostics, maintenance, and repair services.

Following this news and the Q1 earnings release, Boeing’s stock rose by 6% on Wednesday. The company’s shares have recovered from earlier losses in April and are now down less than 3% for the year.

Boeing stock price
Source: XTB.com

Flying Green: Boeing’s Net Zero Strategy 

Beyond its financial performance, Boeing continues to push forward with environmental initiatives. The company has taken many steps to cut its carbon footprint worldwide to reach net-zero emissions.

In 2023, Boeing reached net-zero carbon emissions for the fourth year in a row. This includes Scope 1 and Scope 2 emissions, along with some Scope 3 emissions like business travel. It achieved this through a mix of energy efficiency upgrades, expanded use of renewable energy, and certified carbon offsets.

At its major manufacturing sites—known as Core Metric Sites—Boeing closely monitors emissions and energy use. These locations represent 70% of the company’s total operational emissions.

Boeing verifies its data using utility bills and third-party assessments. This helps ensure transparency and accuracy.

The company’s strategy follows an “Avoid First, Remove Second” approach:

  • Avoid emissions by improving efficiency and switching to renewable energy, such as sustainable aviation fuel (SAF).
  • Remove remaining emissions through permanent carbon removal solutions and offsets.

Boeing also aims to reduce its use of offsets by 2024, especially for Scope 1 and Scope 2 emissions. However, offsets will continue to play a role for Scope 3 emissions, such as business travel, and in supporting voluntary carbon markets.

Cascade: A Tool for Industry-Wide Impact

In May 2023, Boeing introduced the Cascade Climate Impact Model as part of its net zero roadmap. Cascade is a data-based tool designed to help reduce emissions across the aviation industry. It shows how different strategies can reduce emissions. For example, replacing older planes with newer, efficient ones or optimizing flight paths can help.

Cascade also looks at the use of SAF, aircraft innovation, and market-based mechanisms. It is publicly available and backed by partners like NASA, IATA (the International Air Transport Association), and universities.

Boeing works with these partners to improve the tool and make it more useful for the aviation industry. The company is using these five ways to help the industry decarbonize. 

Boeing plan to decarbonize aerospace
Source: Boeing

The company also teamed up with Norsk e-Fuel to build one of Europe’s first big Power-to-Liquids (PtL) plants in Mosjøen, Norway. This collaboration will create sustainable aviation fuel (SAF). It combines green hydrogen with captured CO₂ to produce electro-SAF (e-SAF).

The initiative supports the EU’s RefuelEU targets, aiming for 6% SAF use by 2030 and 70% by 2050, with specific goals for e-SAF. Boeing’s investment accelerates SAF production, contributing to aviation’s net-zero emissions goal by 2050. ​

Boeing is sharing tools like Cascade and promoting sustainable aviation fuels. This helps the industry work towards its goal of net-zero emissions by 2050.

Flight Path Forward

Boeing’s Q1 2025 performance suggests progress in its efforts to recover financially. At the same time, its environmental strategy reflects a long-term commitment to making air travel more sustainable.

Boeing faces a growing backlog of orders and has major aircraft development programs in progress. The company is also investing in renewable energy and innovation. These steps aim not just to return to profits but to lead the aviation industry toward cleaner and greener skies.

The post Boeing’s Financial Gains and Green Goals Take Flight in Q1 2025 appeared first on Carbon Credits.

U.S. Solar and Energy Storage Set for Major Growth in 2025

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U.S. Solar and Energy Storage Set for Major Growth in 2025

Disseminated on behalf of SolarBank Corporation.

The U.S. energy system is changing fast. In 2025, the country is expected to add about 97 gigawatts (GW) of new electricity capacity. Most of this growth will come from solar power and energy storage, showing strong momentum for clean energy, even as fossil fuels remain part of the mix.

A report from S&P Global Market Intelligence says that more than 59 GW of new solar and wind projects are planned for 2025, along with over 31 GW of energy storage. This means nearly 90% of new electricity projects next year will be tied to renewable energy and batteries.

Solar Shines Brightest

Solar energy is growing quickly across the United States. Nearly 49 GW of solar power is in line to connect to the electric grid. That’s enough to power more than 35 million homes for a year.

Texas is leading the solar race, with more than 12 GW of planned solar capacity. Other large amounts are planned in the Midcontinent Independent System Operator (MISO) region with 8 GW, and the PJM Interconnection area with over 6 GW.

US energy capacity additions, retirements by fuel type
Source: S&P Global

The growth of solar is being pushed by several things:

  • Falling prices of solar panels
  • Government tax credits and incentives
  • Demand for clean electricity from businesses and households

According to the Solar Energy Industries Association (SEIA), the U.S. solar market grew by 51% in 2023, and similar strong growth is expected in 2025. By 2034, the High Case scenario shows a 17% increase in solar deployment. 

US solar forecast to 2034

Batteries or Energy Storage Take the Grid to the Next Level

Energy storage systems, mostly large batteries, are important because they help store solar and wind power for use when the sun isn’t shining or the wind isn’t blowing. In 2025, over 31 GW of new storage capacity is expected to be built.

California and Texas are the leaders in battery storage. The California Independent System Operator (CAISO) is set to add about 6 GW of storage next year, while Texas plans to add nearly 12 GW.

Storage growth is important because it makes renewable energy more reliable. Batteries can help keep the grid stable and reduce blackouts.

Wind Picks Up, But Slower

Wind energy is still expanding, though not as fast as solar. More than 2 GW of new wind capacity is expected in Texas alone in 2025, and around 2 GW more across the rest of the country.

Offshore wind projects have faced delays due to high costs and supply chain problems, but some are moving ahead. For example, the Vineyard Wind project off the coast of Massachusetts began delivering power to the grid in early 2024 and plans to expand.

Fossil Fuels: Still in the Field

While renewable energy is growing fast, fossil fuels like natural gas and coal are still part of the energy system.

US 2025 capacity additions, retirements energy

In 2025, the U.S. plans to add 6.4 GW of new natural gas capacity. At the same time, 4.6 GW of older gas plants are expected to retire, resulting in a net gain of 1.8 GW.

Coal power continues to decline. About 6.2 GW of coal-fired power plants are scheduled to shut down in 2025. This follows a long-term trend, as more utilities move away from coal due to high costs and pollution concerns.

Still, some recent government actions could slow coal’s decline. In April 2025, President Trump signed orders calling coal a “critical mineral” and pushed for its use in powering data centers. His administration declared a “national energy emergency” and said the grid was becoming less reliable without coal and gas.

Even so, experts say coal is unlikely to see a big comeback. Most utility companies are not planning to build new coal plants, as they worry about being left with stranded assets—plants that cost more to operate than they earn.

Natural Gas Eyes a Bigger Role

As electricity demand rises, especially from electric vehicles and data centers, natural gas could play a larger role in some parts of the country.

There’s going to be a lot of momentum for natural gas, per Steve Piper, director of energy research at S&P Global Commodity Insights. He noted that areas like the Marcellus and Utica shale regions, which have low-cost gas, could see more gas power plants being built.

Still, challenges remain for natural gas. High capital costs, slow permitting, and supply chain delays could limit how fast new plants are built.

Grid Growth by Region

Each part of the U.S. energy grid has its own plans for new projects in 2025. These include the following:

  • ERCOT (Texas): 27 GW of new capacity, with only 574 MW of retirements. Major growth in solar and batteries.
  • PJM (Mid-Atlantic and Midwest): 7 GW of new projects, mostly solar. About 3 GW of fossil fuel plants will retire.
  • CAISO (California): 10 GW of new capacity, including 6 GW of storage.
  • MISO (Midwest): 11 GW of new capacity, mostly solar. Coal retirements are expected.
  • ISO New England: About 2 GW of new power, mostly solar and storage.
  • NYISO (New York): 1.4 GW of new capacity, with gas retirements.
  • SPP (Southwest Power Pool): 6 GW of new capacity, mainly from solar and gas.
  • Non-ISO/RTO areas (Southeast and Western U.S.): 33 GW of new capacity, including 17 GW of solar and 11 GW of storage.

Toward a Cleaner Grid

Overall, the U.S. is set to add nearly 86 GW of new net power capacity in 2025. Most of this will come from solar and storage. These technologies are key to cutting emissions and meeting climate goals. And one company that stands out in this field is SolarBank Corporation (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2). 

SolarBank is a leading independent renewable energy developer focused on distributed and community solar projects in Canada and the U.S. The company specializes in solar, battery storage, and EV charging solutions for utilities, municipalities, commercial clients, and homeowners.

Notably, SolarBank completed a $41 million USD deal with Honeywell for three New York-based solar projects and began work on a 1.4 MW rooftop project for Fiera Real Estate in Alberta. Major community solar initiatives include the Geddes, Greenville, and Nassau projects in New York, set to power thousands of homes. In Nova Scotia, SolarBank is developing up to 31 MW of solar capacity with TriMac Engineering, targeting 4,000 households.

SolarBank projects
Source: SolarBank

Looking ahead, SolarBank is advancing projects in New York, Pennsylvania, and Nova Scotia, including agrivoltaic systems that combine solar power with farming. These efforts highlight the company’s role in accelerating the clean energy transition through innovative, community-based solar solutions.

However, fossil fuels are still needed to meet rising demand and ensure grid reliability. Policymakers and energy companies face tough choices as they try to balance clean energy growth with keeping the lights on.

Even with political shifts, experts say the energy transition is moving forward. Market forces, customer demand, and lower costs for renewables are driving long-term change.

As more projects get built in 2025, the U.S. will come closer to a cleaner energy system—one that can power homes, businesses, and vehicles while cutting carbon pollution.

This report contains forward-looking information. Please refer to the SolarBank press release entitled “SolarBank Announces 2024 Highlights” for details of the information, risks and assumptions.

Disclosure: Owners, members, directors, and employees of carboncredits.com have/may have stock or option positions in any of the companies mentioned: None.

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.

Please read our Full RISKS and DISCLOSURE here.

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From Sea to Sky: MOL & Climeworks Launch Maritime Carbon Removal First

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From Sea to Sky: MOL & Climeworks Launch Maritime Carbon Removal First

Climeworks, a Swiss company known for its carbon removal technology, announced a major partnership with Mitsui O.S.K. Lines (MOL), one of the world’s largest shipping companies. This is Climeworks’ first collaboration with a shipping company and its first agreement with a Japanese partner.

As part of the deal, Climeworks will remove 13,400 tons of carbon dioxide (CO₂) from the air on behalf of MOL by 2030.

This agreement supports MOL’s goal of reaching net-zero greenhouse gas emissions by 2050. MOL is already using clean energy, improving energy efficiency, and testing new technologies. But because shipping is one of the hardest industries to decarbonize, carbon removal is seen as a necessary tool to meet climate goals.

Christoph Gebald, co-founder and Co-CEO of Climeworks, said,

“Shipping is a hard-to-abate sector where residual emissions are likely to remain even with ambitious mitigation measures. Carbon removal solutions will be necessary to address those emissions and reach full climate targets.”

How Climeworks’ Direct Air Capture Technology Works

Climeworks uses a method called Direct Air Capture (DAC) to remove CO₂ directly from the atmosphere. Special machines with large fans pull in air, which passes through filters that trap CO₂.

When the filters are full, they are heated to release the CO₂ gas. This gas is then either stored underground, where it turns into rock over time, or reused in other processes. This approach removes CO₂ permanently and allows it to be measured, verified, and tracked.

Climeworks DAC technology
Source: Climeworks

Climeworks opened its largest DAC facility, called Mammoth, in Iceland in 2024. This plant can capture up to 36,000 tons of CO₂ per year. It builds on Climeworks’ Orca project. This is part of their plan to remove multi-megaton CO₂ by the 2030s and reach gigaton levels by 2050.

Hard-to-Abate Emissions and the Role of Carbon Removal

Shipping contributes about 3% of global greenhouse gas emissions. The chart below shows the industry’s emissions since 2012 by vessel type. Unlike cars or buildings, which can switch to electric or renewable energy solutions more easily, cargo ships are harder to decarbonize.

shipping emissions 2023
Source: UNCTAD

Even with low-carbon fuels and better designs, some emissions will remain. That’s why companies like MOL are turning to carbon removal.

Through this agreement, MOL is taking early action to address the challenge. It plans to remove 2.2 million tons of CO₂ by 2030. The partnership with Climeworks marks an important first step in reaching this goal.

MOL’s Commitment to Net-Zero Emissions

MOL has set a clear goal to achieve net-zero GHG emissions by 2050, as outlined in its “MOL Group Environmental Vision 2.2.” This roadmap outlines clear goals and milestones. They will help the company reduce emissions in its operations. ​

MOL net zero emissions roadmap 2050
Source: MOL

To reach this goal, MOL is implementing various strategies, including:​

  • Adopting Clean Energy. MOL is investing in alternative fuels, such as e-methane and bio-methanol, to power its vessels. These cleaner energy sources are part of the company’s plan to reduce reliance on traditional fossil fuels. ​

  • Energy-Saving Technologies. The company is enhancing ship designs and operations to improve energy efficiency. This includes utilizing wind power for vessel propulsion and other innovative technologies to lower fuel consumption.

  • Carbon Removal Initiatives. MOL has partnered with Climeworks to remove CO₂ from the atmosphere using DAC technology. This collaboration aims to offset emissions that are difficult to eliminate through other means.

Hisashi Umemura, Senior Executive Officer of MOL, explained,

“At Mitsui O.S.K. Lines, we’re committed to navigating toward a net-zero future. Contributing the expansion of high-integrity carbon removal credits, driven by Climeworks’ state-of-the-art Direct Air Capture technology, empowers us to address emissions that are hard to eliminate through conventional methods. This is not just an investment in carbon removal but an investment in the future of sustainable shipping.”

Japan’s Role in the Carbon Removal Market

Japan is playing a bigger role in the carbon removal industry. In 2024, it became the first country to allow international, durable carbon removal credits in its national emissions trading system. This made it easier for companies like MOL to invest in projects like Climeworks’.

MOL is not only Climeworks’ first shipping client but also its first customer from Japan. This shows how both are working together to push the boundaries of climate solutions.

The Growing Market for Direct Air Capture

The DAC market is growing quickly as more governments and companies take action to fight climate change. In 2023, experts valued the global DAC market at about $62 million.

DAC market outlook
Source: MarketsandMarkets
  • By 2030, they expect it to reach around $1.7 billion, with a strong annual growth rate of 60.9%, according to MarketsandMarkets.

Governments around the world are setting net-zero emission targets, which drives up demand for DAC. Many companies also see value in DAC to support synthetic fuels and meet climate goals.

North America leads the DAC market, thanks to major investments in new DAC technologies. Europe follows closely, with strong policies and big climate ambitions helping the market grow.

With these trends in place, the DAC market looks ready to keep growing fast. As more groups choose carbon removal, DAC will play a bigger role in global efforts to limit climate change.

A Bigger Vision for Global Impact

Alongside the offtake agreement to remove 13,400 tons of CO₂, MOL and Climeworks also signed a Memorandum of Understanding. This means MOL might invest in future Climeworks projects. These investments would help Climeworks build more DAC plants worldwide, increasing their ability to remove CO₂ on a large scale.

This partnership goes beyond reducing emissions in shipping. It shows how companies can take the lead in fighting climate change. By working with Climeworks, MOL is also helping to create demand for high-quality carbon removal solutions. These early actions could make it easier and more affordable for other industries to follow.

More initiatives like this can help carbon removal technologies grow to become a key part in decarbonizing the shipping industry and be a global strategy to fight climate change.

The post From Sea to Sky: MOL & Climeworks Launch Maritime Carbon Removal First appeared first on Carbon Credits.

Alphabet Smashes Q1 2025 Expectations with Strong Growth But Emissions Are Rising

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Alphabet, Google’s parent company, kicked off 2025 with a solid earnings report. Despite global economic concerns and trade tensions, the company beat analyst expectations across the board. Its core businesses—Search, YouTube, and Cloud continued to grow, showing strong momentum and revenue. However, with a massive upgrade in AI infrastructure, emissions have risen. Can Google still meet its net-zero target?

Alphabet’s Revenue Jumps Amid Economic Uncertainty

Alphabet reported $90.2 billion in revenue for the first quarter. That’s a 12% increase from $80.5 billion in Q1 2024. Analysts had expected $89.2 billion. Net income came in at $34.54 billion, up 46% from $23.66 billion a year ago.

Earnings per share (EPS) hit $2.81, far above the expected $2.01. Operating income rose 20% to $30.6 billion. Plus, the company’s operating margin expanded to 34%, which is higher than last year.

CEO Sundar Pichai, confirmed by saying,

“We’re pleased with our strong Q1 results, which reflect healthy growth and momentum across the business. Underpinning this growth is our unique full-stack approach to AI. This quarter was super exciting as we rolled out Gemini 2.5, our most intelligent AI model, which is achieving breakthroughs in performance and is an extraordinary foundation for our future innovation. Search saw continued strong growth, boosted by the engagement we’re seeing with features like AI Overviews, which now has 1.5 billion users per month. Driven by YouTube and Google One, we surpassed 270 million paid subscriptions. And Cloud grew rapidly with significant demand for our solutions.”

Google Search, YouTube, and Cloud Drive Growth

Google Search brought in $50.7 billion in revenue. YouTube ads earned $8.93 billion, up from $8.09 billion a year earlier. Google Services, which includes Search, YouTube, subscriptions, and device sales, generated $77.3 billion—a 10% increase from last year.

Meanwhile, Google Cloud stood out. The cloud business earned $12.3 billion, growing 28% from $9.57 billion in Q1 2024. This growth was fueled by demand for Google Cloud Platform, AI infrastructure, and generative AI tools.

Alphabet earnings
Source: Alphabet

Shareholders Win Big

Alphabet didn’t just report big profits, it also rewarded investors. The board approved a massive $70 billion stock buyback plan. In addition, the company raised its quarterly dividend by 5% to $0.21 per share.

Right after the earnings release, Alphabet’s stock jumped 5% in after-hours trading. Shares hit $169, the highest level in four weeks.

AI Still the Focus Despite Trade Tensions

Even with rising costs and trade tensions between the U.S. and China, Alphabet is staying aggressive. The company confirmed it will stick to its $75 billion capital spending plan for 2025. A large portion of that will support AI infrastructure and data centers.

Analysts have raised concerns about Big Tech pulling back on data center projects. But Alphabet and its peers, like Meta and Amazon, remain committed, giving AI investment a top priority.

For now, Alphabet shows strong growth for the rest of the year.

Google’s Emissions Are Rising, Not Falling

Google aims to hit net-zero emissions across its operations and supply chain by 2030. The company is leaning on two major strategies: cutting emissions in all possible areas and removing the remaining emissions through carbon removal.

In 2023, Google’s total greenhouse gas (GHG) emissions hit 14.3 million metric tons of CO₂ equivalent. That’s a 13% jump from 2022. While the growth slowed compared to past years, the trend still moved in the wrong direction. Most of the rise came from higher energy use at data centers and emissions from its supply chain.

Scope Emissions

  • Scope 1 (direct) emissions: 79,400 tCO₂e (1% of total)
  • Scope 2 (indirect from electricity): 3.4 million tCO₂e (24%)
  • Scope 3 (supply chain and other indirect emissions): 10.8 million tCO₂e (75%)
alphabet google emissions
Source: Google

Although Google has made progress, its emissions increased in 2023, highlighting the challenge of scaling digital services while reducing carbon emissions. Especially with the unpredictable energy demands of artificial intelligence (AI).

Google’s Roadmap to a Net-Zero Future

Google aims to cut its emissions by 50% by 2030 using 2019 as the baseline. However, after updating how it measures emissions, the company now reports a 48% rise from 2019.

google alphabet
Source: Alphabet

Renewable Energy

Google has run on 100% renewable energy for seven years straight. But under current standards, this hasn’t cut its market-based Scope 2 emissions. Its new goal is to run all operations on 24/7 carbon-free energy (CFE) by 2030. In 2023, it hit 64% CFE globally.

google renewable energy Alphabet
Source: Alphabet

Energy Efficient Data Centers

Google’s data centers are 1.8 times more energy efficient than typical enterprise setups. In 2023, its average Power Usage Effectiveness (PUE) was 1.10, well below the industry average of 1.58.

Another example is its AI hardware, TPU v4 chips, which are 2.7 times more efficient than their predecessors.

Using AI to Slash Emissions

Furthermore, it is developing tools to reduce the energy needed to train AI models by up to 100 times. They can slash emissions by as much as 1,000 times.

Their Gemini 1.5 Pro model delivers performance similar to Gemini 1.0 Ultra but with far less computing power. Google is also guiding software developers through its “Go Green Software” initiative to shrink their environmental impact.

Practical examples of AI in action include:

  • Fuel-efficient navigation, cutting 2.9 million metric tons of emissions since 2021.
  • Flood forecasting tools are used in over 80 countries.
  • The Green Light initiative is to optimize traffic signals.

Google is also building AI-powered systems to predict extreme heat, detect cool roofs, and track methane leaks. These tools show how AI can play a key role in solving environmental problems.

Betting Big on Carbon Removal Credits

Google knows how important it is to remove residual emissions to hit its net-zero target. That’s where carbon removal and high-quality carbon removal credits are immensely useful.

  • In 2022, it pledged $200 million to Frontier, an initiative to boost carbon removal technologies by committing to buy future credits.
  • Signed deals with Charm Industrial, Lithos Carbon, and CarbonCapture through Frontier. These deals represent about 62,500 metric tons of carbon removal credits to be delivered by 2030.
  • Joined a U.S. Department of Energy program to match carbon removal purchases, aiming to lock in at least $35 million worth of credits within a year.

Nature-Based Solutions

Furthermore, Google has also invested in nature-based removals. To support carbon credit markets, it gave more than $7 million in grants to organizations like The Gold Standard and ICVCM.

google alphabet
Source: Alphabet

Google’s large-scale commitments are:

  • Purchased 200,000 tons of removal credits from Terradot, which uses enhanced rock weathering.
  • Bought 50,000 tons from Brazilian startup Mombak, which is focused on reforestation in the Amazon.
  • A partnership with Holocene to capture 100,000 tons of CO₂ by 2032.

These investments reflect its transition from short-term carbon neutrality and focusing on long-term carbon removal solutions.

Google’s environmental efforts show its huge strides in clean energy and AI-driven efficiency. Yet emissions are still rising. As 2030 approaches, the big question is, can Google truly deliver on its net-zero promise while expanding its tech empire? Only time will tell.

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How AI and Clean Energy Are Competing for Critical Minerals?

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AI

The world is rapidly shifting to clean energy, and this is changing how we power our lives. Technologies like solar panels, wind turbines, and electric vehicles (EVs) need a lot more minerals than traditional fossil fuel systems.

For example, EVs use six times more minerals than regular cars. Onshore wind farms need nine times more minerals than gas power plants. Since 2010, the mineral use for each new power plant has jumped by 50%. This rise is mainly because renewables are growing fast.

Meanwhile, along with this clean energy transition, AI is the new player that is adding more pressure to global mineral supplies. IEA’s latest Energy and AI report shows that the rapid growth of AI and digital infrastructure is increasing demand for key materials already needed by the energy sector.

This means data centers, which power AI, rely on a wide range of critical minerals, many of which overlap with clean energy technologies.

Clean Energy Vs AI’s Mineral Requirements

Each clean energy tool depends on specific minerals. Batteries need lithium, cobalt, nickel, manganese, and graphite. Amongst all, lithium is the key to making lithium-ion batteries, which power backup systems in data centers. These batteries help keep things running during power outages.

Similarly, wind turbines and EV motors use rare earth elements for their magnets. Copper and aluminum are key for power lines and grids. Copper is especially important because it’s used in almost every clean energy device.

IEA predicts that by the 2040s, clean energy could account for over 40% of copper and rare earth use, 60–70% of cobalt and nickel use, and nearly 90% of lithium use. Already, EVs and batteries use more lithium than electronics. Soon, they’ll also use more nickel than stainless steel.

Minerals used in clean energy technologies compared to other power generation sources

clean tech critical mineral

AI’s Mineral Requirements are Complex

However, figuring out exactly how much mineral demand AI growth will create isn’t easy. That’s because there’s limited detailed data on what types of chips, processors, cooling systems, and storage equipment different data centers use.

Data Centers Demand More Than Just Power

Building and running data centers isn’t just about electricity. These digital hubs need large amounts of copper, aluminum, silicon, gallium, rare earth elements, and battery minerals.

  • Copper is essential for power systems, cooling networks, and fast data cables.
  • Aluminum, valued for its lightweight and heat resistance, is used in server racks and protective casings.
  • Silicon, especially in its purest form, forms the core of chips, memory, and storage devices.
  • Gallium-based compounds like gallium nitride and gallium arsenide are now common in high-speed processors and energy-efficient electronics.
  • Rare earths such as neodymium, dysprosium, and terbium play a crucial role in motors, cooling fans, and precision parts.

Data centers critical minerals

Still, estimates show that by 2030, the rise in data centers could drive:

  • 2% of the global demand for copper and silicon
  • Over 3% for rare earth elements
  • A huge 11% for gallium

Even though data centers won’t be the biggest users of these minerals, the total amounts are significant. It’s about 512,000 tonnes of copper and 75,000 tonnes of silicon by 2030. This means project developers need to take mineral supply seriously.

Looking ahead, defense, clean energy, construction, aviation, and AI will all be competing for the same limited mineral resources. For some, like copper, the supply is already falling short of demand. And the added pressure from growing AI data centers could make it worse.

Governments and industries will need to plan diligently to make sure they can meet future demand without slowing down critical projects.

Heavy Reliance on a Few Countries Puts Mineral Supply at Risk

One major issue with critical minerals is that most of the world’s supply comes from just a few countries. In 2024, the top three producers- China, Chile, and the DRC supplied:

  • Almost 60% of refined copper
  • Around 90% of aluminum
  • Over 90% of silicon, magnet-related rare earths, and gallium

This heavy concentration makes global supply chains vulnerable. If something disrupts production, like extreme weather, accidents, trade conflicts, or political tensions, it could lead to serious shortages.

Ai critical minerals global

China’s Export Restrictions 

These risks aren’t just hypothetical. In late 2024, China placed export restrictions on gallium, germanium, and antimony targeting the U.S. As a result, gallium prices outside China more than doubled in just five months.

China also added controls on graphite, followed by even more limits in early 2025 on tungsten, tellurium, bismuth, indium, and molybdenum. These minerals are key for advanced tech, defense tools, and data centers. And the trade war continues with Trump imposing huge tariffs on Chinese imports.

All of this shows how fragile the mineral supply chain has become. If these materials become harder to get, the cost of building and running data centers and other tech could rise sharply. This wouldn’t just affect companies, but also consumers and the broader economy.

Is a Mineral Security Crisis Brewing?

As more sectors from clean power and EVs to defense and digital tech chase the same scarce minerals, the risk of shortages is growing. Without urgent action, supply issues could raise costs and slow down vital projects worldwide.

Data center and AI growth would only flourish in the future. The potential solution could be if countries and companies diversify mineral sources, invest in recycling, and strengthen supply chains. The race for minerals is no longer just about the energy shift, it’s about protecting the future of global technology.

The post How AI and Clean Energy Are Competing for Critical Minerals? appeared first on Carbon Credits.

Paladin Energy Hits Record Uranium Output Since Restart at Langer Heinrich

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uranium

Paladin Energy saw a 17% jump in uranium production in the March 2025 quarter, which sent its stock price up. The company produced 745,484 pounds of uranium oxide (U3O8) at its Langer Heinrich Mine in Namibia. It’s the highest amount since the mine restarted last year in March.

The company is supplying safe and steady uranium oxide to help the nuclear industry deliver clean and reliable energy to the world. Even though heavy rainfall, which they hail as one of the worst in 50 years, briefly shut down the site and damaged roads, it bounced back quickly.

Notably, it processed over 900,000 tonnes of ore during the quarter and reached a solid 88% recovery rate at its plant. For now, the mine is mainly using ore stockpiled, but is getting ready for full-scale open-pit mining.

Paladin’s Uranium Sales Beat Production, Strong Market Demand

Paladin sold 872,435 pounds of uranium in this quarter, more than it produced. The company earned an average price of US$69.9 per pound. This strong performance was facilitated by the timing of customer deliveries.

paladin uranium output
Source: Paladin

It also reported that it had US$127.8 million in cash and access to another US$50 million in loans, giving it plenty of funds to grow its business.

According to a report from Mining Technology shows that in 2025, global uranium production will continue its upward trend and is expected to reach ~ 65 megatonnes (Mt). This represented a year-on-year growth rate of around 9%, driven by increased output from leading producers such as Kazakhstan and Canada.

Kazakhstan topped in uranium production capacity last year, and this massive output came from its largest uranium company, Kazatomprom. Furthermore, the steady ramp-up of Canada’s McArthur River uranium mine also contributed significantly to the overall increase.

global uranium trend
Sourced from Mining Technology, original: Global uranium output. Credit: GlobalData.

Coming back to Paladin, it now has 12 long-term contracts with top global customers. In total, Paladin has committed to supply 22.3 million pounds of uranium through 2030. This strong sales pipeline shows the company is in high demand and is a major contributor to Australia’s bright uranium future.

paladin
Source: Paladin

Langer Heinrich Mine: A Key Player for Nuclear Power

The Langer Heinrich Mine is located about 80 km from Swakopmund in Namibia. Paladin owns 75% of the mine, which is expected to play a big role in global decarbonization.

Once fully operational, LHM will produce enough uranium to power over ten 1,000 MWe nuclear power plants for a year and support the demand for low-carbon energy.

The mine restarted operations in March 2024 after a major upgrade. It uses the conventional and simple alkaline leach process to extract uranium, which helps keep operations steady and low-risk.

Paladin Pushes for Greener Langer Heinrich Mine

Direct emissions or Scope 1, come mostly from fuel burned on-site and diesel used in mining vehicles and transportation. Indirect Scope 2 emissions result from electricity purchased from NamPower, Namibia’s national power supplier.

NamPower sources electricity from hydroelectric plants in Namibia, Zambia, and Zimbabwe. In recent years, solar power has also been added, helping reduce the region’s carbon footprint.

Rise in Emissions

Paladin Energy’s emissions increased sharply last year compared to 2023. This is because the mine returned to commercial production. Activities such as system testing and facility upgrades before the restart also added to the total emissions.

  • Scope 1 emissions rose from 752 tonnes CO₂e in 2023 to 18,994 tonnes CO₂e in 2024.

  • Scope 2 emissions were up from 431 tonnes CO₂e to 19,063 tonnes CO₂e in the same period.

This year the mine is ramping up output, and they expect a rise in Scope 1 and 2 emissions further as production hits full capacity. However, they are taking necessary steps to reduce their carbon emissions and environmental impact.

Paladin emissions
Source: Paladin

Protecting the Air Quality

The uranium miner has a completely rigorous checking of baseline air quality for gases like sulfur oxides (SOx), nitrogen oxides (NOx), and volatile organic compounds (VOCs).

They have skilled technicians who can handle the air monitoring system. The air monitoring plan tracks emissions from exhaust stacks, and it will continue throughout this year. This ensures the mine meets environmental standards and performance goals.

Reducing Environmental Impact

Paladin follows a strict Environmental Policy supported by clear procedures and plans. These include managing land and water use, reducing greenhouse gas emissions, and reducing mining waste.

When the mine restarted in 2024, it produced only small amounts of hazardous waste. All non-mineral waste is scanned for radioactivity. If found to be radioactive, the waste stays on-site in a special storage facility.

  • Ensure all hazardous and non-hazardous waste is handled safely and meets environmental standards.
  • Cut waste through reduction, reuse, recycling, and recovery

Recently, the Canadian government gave Paladin special approval to move forward with its Patterson Lake South (PLS) project. The company also signed community benefit agreements with two First Nations groups in Canada, showing its commitment to local partnerships.

Lastly, with rising uranium demand and strong results, Paladin Energy is growing fast. Its success also lifted other uranium companies in Australia, which showed strong confidence in this booming nuclear sector.

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