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Daily Update — November 18, 2025

COP30 Expectations; AI Agent Releases; and Private Credit’s Opacity Problem

Today is Tuesday, November 18, 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.

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Energy Transition & Sustainability

What to expect from COP30 | All Things Sustainable

 

This episode of the “All Things Sustainable” podcast covered what to expect from the 2025 UN Climate Change Conference (COP30), held Nov. 10–21 in Belém, Brazil. At this annual summit, world leaders convene to work on climate change solutions. COP30 is known as the "Implementation COP” because it will focus on turning climate commitments into action. 

 

To learn more, hosts Lindsey Hall and Esther Whieldon sat down on the sidelines of the PRI in Person conference in São Paulo with Marcos Neto, assistant secretary-general at the UN Development Programme (UNDP) and director of the UNDP’s Bureau for Policy and Programme Support. Neto explained the themes he’s watching during COP30, including financing needs, the climate-nature nexus, the rising focus on adaptation and resilience, and the evolving role of insurance in climate conversations. Neto also discussed the UNDP’s work helping countries develop nationally determined contributions, which are updated every five years to outline countries’ plans for achieving Paris Agreement on climate change goals.   

Artificial Intelligence

Generative AI Digest: Major AI agent releases

 

In its October DevDay announcements, OpenAI said users will be able to engage with other applications and take actions directly within ChatGPT via agents, highlighting the platform’s growing extensibility. This has major implications across the technology ecosystem as the intelligent, conversational interface becomes the operating center for work and consumer life, with ChatGPT positioning itself at the core of all digital interactions. 

 

In parallel, OpenAI continued its spending spree in October, signing supplier deals with Advanced Micro Devices, Oracle, Nvidia and Broadcom to secure critical infrastructure. These deals potentially amount to trillions of dollars in spending over the next decade, overshadowing OpenAI's estimated revenue of about $13 billion in 2025. The company's future hinge on whether it can grow revenue fast enough and keep attracting outside funding to cover its costs.

Private Markets

Private credit has an opacity problem. Technology is solving it

 

Private credit is facing unprecedented growth — and commensurate growing pains. In this blog series, S&P Global Market Intelligence’s head of iLEVEL private credit, Jocelyn Lewis, examined how some crucial technologies are helping to build trust in private credit by supporting greater transparency. 

 

Private credit is notoriously complex, involving highly individualized deal structures, lengthy loan documentation and nuanced performance metrics. Managing that complexity using spreadsheets, point solutions and manual processes results in a lack of visibility. Despite this, the asset class is estimated to be over $1.7 trillion in assets under management globally, according to S&P Global Market Intelligence research, rivaling the size of the public high-yield bond market.

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