Daily Update — November 03, 2025
UK Climate Commitments; Powering the Future; and Investments in Industrials
Today is Monday, November 3, 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
UK strengthens climate commitments despite political pushback
The UK government doubled down on its clean energy ambitions by unveiling a climate strategy on Oct. 29 focused on renewables sector growth and lower energy costs. The Department for Energy Security and Net Zero published the carbon budget and growth delivery plan, outlining how the UK will meet its legally binding emissions reduction targets from 2023 to 2037. Carbon budgets function as five-year caps on greenhouse gas emissions, with the government committed to setting its seventh carbon budget by June 2026.
Central to this is the UK government's plan to stick to its target of decarbonizing the power sector by 2030. This announcement came amid pushback on the government’s ambitious renewable targets from policymakers and opposition political parties. The government was urged to reframe its 2030 clean power target to prioritize cheaper energy bills.
Artificial Intelligence
Powering the Future amid the AI Surge
AI is a major force driving markets, with nearly 50% of S&P 500 earnings estimated to be linked to it. The narrative surrounding AI earnings and spending is largely focused on the necessary infrastructure, especially data centers and power.
As organizations increasingly depend on data-driven decision-making, demand for cloud computing is surging, leading to significant growth in the data center market. This market is projected to reach US$584.9 billion by 2032, reflecting a compound annual growth rate of 11.7%. Global electricity demand from data centers is expected to more than double by 2030, with US data centers anticipated to account for nearly half of the growth in the country’s electricity demand. US electricity demand is projected to increase 25% by 2030 and 78% by 2050, compared with 2023 levels.
Private Markets
Listen: A Conviction in Industrials with American Securities | Private Markets 360°
In this episode of the “Private Markets 360°” podcast, Scott Wolff, president and managing director at American Securities, shared insights on the current deal environment, the innovative application of AI to enhance operational efficiencies and the importance of developing internal talent within portfolio companies.
Wolff has been with American Securities for over two decades and has played a pivotal role in shaping investment strategies, particularly within the industrial sector. His extensive experience provides a unique perspective on the complexities and potential of private investments in today’s market.
In case you missed it
- US President Donald Trump lowered fentanyl-related tariffs on China to 10% from 20%, effective Oct. 30, following a summit meeting with Chinese President Xi Jinping.
- Indian Oil Corp. will continue buying Russian crude, but only from nonsanctioned entities, the company's finance director said Oct. 28, adding that this would help the state-run refiner meet US and EU sanction obligations.
- The Big Ten, Southeast Conference, Big 12 and Atlantic Coast Conference secured lucrative media rights deals, significantly affecting the financial landscape of US college football.
Upcoming events
- European Banks’ Growth Story and AI Adoption | November 4 (Webinar)
- China Energy Transition — New Forces Are Shifting Power Demand | November 6 (Webinar)
- CERAWeek 2026 | March 23–27, 2026 (Houston)