Daily Update — August 24, 2026
US Renewables Awaiting Regulatory Clarity; August Economic Outlook; and Africa’s Critical Minerals
Today is Monday, August 24, 2026, 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 Expansion
Renewables developers work deals while awaiting US guidance on foreign sourcing
US renewable energy tax credit monetization and debt financing are expected to grow in 2026, despite the lack of US Treasury guidance regarding restrictions on components sourced from foreign entities of concern, according to a report from clean energy financing platform Crux Climate. Lending to the sector is expected to rise 19% year over year to $143 billion in 2026, and tax credit monetization is anticipated to increase to $70 billion from $63 billion, Crux said.
The Treasury Department is expected to propose a rule explaining entity-level restrictions before the end of the year. In the meantime, "the market has crystallized around working definitions," according to Crux’s midyear survey.
"Law firms write [prohibited foreign entity]-status opinions to enable transactions to close, substituting legal analysis for regulatory clarity," the report said. "Diligence has converged on documenting a thoughtful, risk-based process focused on where control could sit, rather than proving a negative."
Economy
Global Economic Outlook: August 2026 — Shrugging off persistent uncertainty
The 2026 real GDP growth forecast was raised 0.4 percentage point to 0.8% for the eurozone and 1.0% for Western Europe, with broad-based upward revisions across economies following stronger-than-expected second-quarter releases. Still, these projected annual growth rates remain relatively subdued compared with those of other major economies and regions due to headwinds including fiscal constraints and heat waves.
The largest upward revision in the Asia-Pacific region is for South Korea, with its growth forecast rising to 2.8% from 1.9% following strong first-half data. While Asia-Pacific growth is expected to moderate in the second half, AI-related activity should remain a key driver for many of the region’s economies. The 2026 growth forecast for mainland China remained at 4.5%, at the lower end of the official target range, due to relatively weak domestic demand.
Global economic outlook: August 2026
Global Trade
How Africa’s Critical Minerals Are Reshaping Global Supply Chains and Geopolitical Power
The global energy transition is creating unprecedented demand for critical minerals such as cobalt, copper and lithium. These resources are essential for decarbonization technologies, but their geographic concentration presents significant challenges for global supply chains and international relations. Africa, home to a substantial share of the world's reserves, is emerging as a central arena for this new era of resource competition.
In a recent webinar, S&P Global Market Intelligence and S&P Global Energy analysts examined Africa's pivotal role, revealing a complex landscape where vast geological potential is tempered by significant above-ground risks.
In case you missed it
- Iraq's council of ministers approved the export of Iraqi oil through various global and domestic companies, effective Sept. 1, the Iraqi News Agency reported.
- European feed grain and protein markets continued to strengthen amid rising futures, Black Sea supply disruptions and concerns over South American availability.
- The US excess and surplus homeowners market has become a necessity as admitted insurers retreat from, reprice or restrict coverage for increasingly complex residential risks.
Upcoming events
- Moving from Data to Risk Management: The New Operating Reality | August 26 (Los Angeles)
- From Mine to Magnet: The Strategic Shift Reshaping Rare Earths Webinar | August 26 (Webinar)
- ETFs in Insurance General Accounts What's Driving the Next Phase of Growth | September 2 (Webinar)