Daily Update — August 19, 2025
Pension Funds Face the Energy Transition; Philippines Rice Imports; Europe’s Gigafactory Lag
Today is Tuesday, August 19, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
A major Mexican pension fund’s approach to the low-carbon transition
In the latest “All Things Sustainable” podcast, S&P Global Sustainable1 introduced a series featuring major pension funds around the world. In this episode, hosts Lindsey Hall and Esther Whieldon sat down in Mexico City with Alejandro Bújanos, head of sustainable investing at Afore Sura, to discuss how the pension fund seeks to drive Mexico’s transition to a low-carbon economy by engaging with major national companies. Afore Sura is one of the largest pension funds in Mexico and a subsidiary of Sura Asset Management.
Global Trade
Philippines rice import suspension sparks shipping rush, price concerns
The Philippine government's order to suspend milled rice imports for 60 days starting Sept. 1 has set off a race among suppliers to ship remaining stocks before the cutoff, sources told Platts, a part of S&P Global Commodity Insights, Aug. 14.
Market participants expect the suspension to create a temporary spike in Vietnamese export prices over the next few weeks before demand from the Philippines eases. One of the world's largest rice importers, the Philippines is halting imports to support domestic farmers affected by falling prices during the harvest season, the government said Aug. 6.
Automotives
Why Europe is losing the gigafactory race to China
Europe wants to become self-reliant in electric vehicle battery manufacturing, but its battery-makers are falling behind Chinese rivals. While China is rapidly scaling gigafactory projects and mass-producing cells at a lower cost, Europe’s build-out is moving slowly. Chinese producers focus on lower-cost lithium-ion-phosphate cells and benefit from strong government support. Meanwhile, the EU’s emphasis on sustainability and lack of direct incentives is stalling gigafactory investment and slowing infrastructure development.
Access the best automotive industry forecast and performance data from S&P Global Mobility.
In case you missed it
- US diesel prices have rallied this summer as strong export demand tightens inventories and jet fuel prices remain stable.
- Thai state-run oil and gas giant PTT established a brainstorming and analysis division to navigate global economic and geopolitical risks after its earnings dropped over 30% in the first half of 2025 due to volatile oil prices.
- The majority of US bankers are bullish on deposit growth over the next 12 months, according to S&P Global Market Intelligence's second-quarter 2025 US Bank Outlook Survey.
Upcoming events
- Banking Infrastructure Modernization: Building for Instant Payments | August 20 (Webinar)
- Sustainability Nexus Webinar Series: Decarbonization Pathways in the Chemicals Industry | August 20 (Webinar)
- Unlocking Trusted Data in Gen AI: Building Agentic Workflows with Kensho | August 27 (Webinar)