Daily Update — March 11, 2026
GHG Emissions Standards; Aluminum Prices Surge; and Inside the US Labor Market
Today is Wednesday, March 11, 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 Transition & Sustainability
Listen: How GHG Protocol's emissions standards for business are evolving
The Greenhouse Gas Protocol, launched in 1998 as a joint initiative of the World Resources Institute and World Business Council for Sustainable Development, is the most widely used set of greenhouse gas accounting standards and guidance. In this episode of the “All Things Sustainable” podcast, Pankaj Bhatia, global director of the GHG Protocol, joined hosts Lindsey Hall and Esther Whieldon to unpack how emissions standards are changing. The discussion covered updates to Scope 2 guidance and Scope 3 standards, the launch of an actions and market instruments standard, and how the GHG Protocol is working with other standard-setters for harmonization.
“Historically, fragmentation in carbon accounting has been a huge problem," Bhatia said. “Climate change is not a siloed operational issue. It's a systemic issue. And if the problem is systemic, the accounting system must also be systemic.”
Global Trade
Aluminum prices surge as Middle East war disrupts GCC trade flows
The war in the Middle East has significantly disrupted aluminum production and exports across Gulf Cooperation Council countries. Maritime traffic through the Strait of Hormuz — a vital shipping corridor for aluminum — has effectively stalled, driving up aluminum prices and raising concerns about supply shortages. Gulf Cooperation Council members’ aluminum production facilities depend on the strait for importing raw materials and exporting primary aluminum and its associated value-added products. Extended disruptions to raw material shipments could lead to reduced production rates and further operational shutdowns.
These challenges are further exacerbated by existing supply constraints and the imminent closure of South32's Mozal aluminum smelter in Mozambique, a key supplier to European markets.
Economy
Listen: Cooling, Not Crashing: Analyzing the US Labor Market
The US labor market is not experiencing rapid growth, but it’s not significantly declining either. In this episode of “The Decisive” podcast, S&P Global Market Intelligence economist Juan Turcios joined host Kristen Hallam to explain what a “softening” labor market looks like in late 2025 and into 2026, and why the headline numbers don’t tell the whole story. The conversation explored the sharp slowdown in payroll growth since the post-pandemic boom, the steady rise in unemployment from its 2023 cyclical low and the increasing concentration of job gains in a handful of sectors — especially healthcare.
Turcios also examined the supply-side forces reshaping the workforce, including slower labor force growth tied to immigration policy shifts and the longer-run drag from an aging population — trends that are changing participation rates and influencing where jobs are being created.
In case you missed it
- The feasibility and efficacy of US President Donald Trump's plan to backstop marine insurers covering shipping in the Persian Gulf is being questioned as the war in the Middle East continues.
- India’s recent policy measures for rare earth elements underline a strategic government shift toward building a robust domestic rare earth value chain to support the high-technology and manufacturing industries.
- Four new M&A deals with transaction values of over $10 billion were announced in February. Paramount Skydance and Warner Bros. Discovery’s $109.97 billion deal was the largest in the past 12 months.
Upcoming events
- How Will Conflict In Iran Impact APAC Oil And Gas Markets? | March 12 (Webinar)
- 2026 Sustainable Finance Americas Forum | April 22 (New York City)
- NAIC Policy Reforms and Insurance Investments: An NAIC Chairman's Perspective (Webinar Replay)