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Daily Update — October 21, 2026

Corporate Emissions Disclosures; Energy Disruption and El Niño; and AI Data Center Risks

Today is Wednesday, October 21, 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.

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Energy Expansion

Emissions disclosure is becoming the norm, but quality gaps remain

 

Corporate disclosure of greenhouse gas emissions has expanded, yet the data reflects uneven regional adoption, sectoral variation, and quality and comparability challenges. While more companies are disclosing emissions data, it is not necessarily comparable across entities and markets due to differences in reporting boundaries, methodologies, disclosure depth and reporting frequency.

 

This divergence matters. Investors, policymakers and corporate leaders rely on disclosed GHG data to assess transition readiness, risk exposure and capital allocation decisions. Without robust standardization and quality controls, disclosure alone can create a misleading sense of progress. The question is no longer whether companies disclose, but whether the disclosed data is sufficient to support real-world decision-making.

Global Trade

Energy disruption and El Niño: Leading to a global food crisis?

 

The Middle East conflict has revealed a nexus of energy, fertilizers and food. The Middle East and Russia account for about half of global net diesel exports, and about 2 million barrels/day of that supply has disappeared. Global food prices are affected in two ways: Diesel is an important input cost for farmers, and farmers may divert acreage from food production to biofuel feedstock.

 

The Gulf is a critical chokepoint for global fertilizer supplies. Limited passage through the Strait of Hormuz in spring and summer reduced fertilizer availability, putting new planting seasons at risk. The challenge is particularly acute for sulfur, a key fertilizer input. The compounding effect of higher energy and fertilizer costs, resilient biofuel-linked demand and El Niño-related weather risks increases pressure on food prices and food security, especially in lower-income countries, where food costs amount to about half of household spending.

 

This report is the latest from the S&P Global Institute, S&P Global’s center for thought leadership. The institute delivers insight on the complex and interconnected challenges facing today’s global leaders, bringing together data, research and specialized expertise from across the enterprise.

Artificial Intelligence

Listen: AI Data Centers: Boom, Bottlenecks and Backlash

 

Data centers are one of the most visible symbols of the global AI investment boom. However, turning ambitious plans into operational capacity will depend on far more than demand for computing power. In this episode of “The Decisive” podcast, host Kristen Hallam spoke with three S&P Global Market Intelligence experts about the economic, construction, policy and security risks shaping the expansion of AI infrastructure.

 

Jeannine Cataldi, associate director of the Global Construction Group, examined the practical constraints facing data center projects, including access to power, water, land, critical materials and skilled labor. Bibianna Norek, principal analyst for Europe and CIS Country Risk, explored Europe’s efforts to balance AI investment with regulation, sustainability requirements and local planning rules. Ben Herzon, executive director and co-head of US economics, assessed the AI investment cycle’s contribution to US economic growth. 

In case you missed it

  • India Cements entered into energy supply and share subscription agreements to acquire a 3.62% equity stake in Zenataris Renewable Energy, the cement producer and supplier said Oct. 16.
  • Indian rice exporters and buyers from Africa and Asia are gathering in India later this month to assess the country's rice trade outlook for 2027, with El Niño-driven production risks threatening to tighten export availability and push prices higher.
  • The long-awaited Africa Energy Bank will formally open in early November, with $500 million of capital to deploy. It could fund as many as three oil and gas projects in 2027, the new secretary general of co-owner the African Petroleum Producers’ Organization told Platts, part of S&P Global Energy, in an interview.

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