Daily Update — October 2, 2026
Chemical Decarbonization; Reimagining Growth in India; and Europe’s AI-Powered Threats
Today is Friday, October 2, 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
Downcycle delays chemical producers' decarbonization ambitions
Greenhouse gas reductions among the largest North American and European chemical producers stalled in 2025, as a prolonged downcycle, high capital costs and uneven policy support constrained investment in low-carbon projects. A survey of the 30 largest North American and European chemical producers by June 2026 market cap found that Scope 1 and Scope 2 emissions rose by 1.53% from 2024 to 2025, according to data from Platts, part of S&P Global Energy. Scope 3 emissions fell 1.17% over the same period.
The American Chemistry Council told Platts that member companies are facing difficult decisions about capital expenditure. In several interviews with Platts, companies confirmed that interim reduction targets that once looked achievable are being revised or shelved. Polymers producer LyondellBasell Industries cut its 2030 Scope 1 and Scope 2 GHG reduction goal to 32% from 42% in February, citing "the need for disciplined capital allocation, evolving market conditions and regulatory developments."
Economy
India Forward: Reimagining Growth
India's economic trajectory in the 2026-27 fiscal year is defined by a paradox: its remarkable domestic macroeconomic resilience, considering the increasingly volatile global environment. Unlike other major economies, India has beaten forecasts while contending with the same inflationary pressures, geopolitical conflicts and slower growth. In fiscal year 2025-26, despite high tariffs, the Indian economy expanded by 7.7% — more than 100 basis points above analysts' consensus.
In India Forward: Reimagining Growth, S&P Global and Crisil analysts share their perspectives on how India's path to a $30 trillion economy by 2047 needs to expand beyond consumption and headline growth rates. Its next iteration of strategic autonomy calls for creative execution in emerging geographies while accelerating domestic reform. It will need to balance the physical realities of grid transmission, agricultural feedstock allocation and deepwater exploration while underscoring the value of programmable digital currencies, deep capital markets and competitive state-level policies. To reimagine growth, India must convert external volatility into domestic capability.
Artificial Intelligence
Listen: AI-powered threats put Europe’s power system on high alert
Europe's increasingly digital power system faces a rapidly evolving mix of cyberattacks, physical sabotage and supply chain vulnerabilities, with AI amplifying risks and defenses.
Host Camilla Naschert spoke with Eurelectric Secretary General Kristian Ruby and European Initiative for Energy Security Executive Director Albéric Mongrenier about how utilities are responding to AI-enabled threats, state- and non-state-backed actors, and attacks on critical infrastructure. They examined whether Europe's regulatory framework and security investment are keeping pace, how operators should approach equipment and vendor risk, and why stronger civilian-military coordination is essential.
In case you missed it
- Asian countries are emerging as key early markets for distributed green ammonia power, as rising electricity demand from AI, data centers and industrial users is supporting the deployment of behind-the-meter clean power solutions.
- Turkey’s position as a global polymer trading hub is expanding, supported by strong domestic converting capacity and its strategic role bridging European, Middle Eastern and Asian trade flows.
- China has outlined tariff reductions for a range of US agricultural goods, including grains, soybean products and animal proteins, while excluding commercial soybeans, the Ministry of Commerce said Sept. 28.
Upcoming events
- Annual Cyber Spotlight | October 6 (Webinar)
- Global Credit Conditions Q4 2026: Eroding Immunity | October 7 (Webinar)
- AI Infrastructure Boom and Backlash | October 7 (Webinar)