Daily Update — September 3, 2026
Climate Week NYC Preview; Australia Private Credit Brief; and Macro Effects of US-Canada Trade
Today is Thursday, September 3, 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
Listen: What to expect from Climate Week NYC: Why resilience is high on the agenda
Climate Week NYC 2026 runs Sept. 20-27, with 100,000 attendees expected across more than 1,000 events. In this episode of the “All Things Sustainable” podcast, The Nest Campus CEO Peter Gilmer joined hosts Lindsey Hall and Esther Whieldon to discuss expectations from the event. The Nest Campus is one of Climate Week NYC’s largest gatherings, with 10,000 to 12,000 expected attendees over three days. Gilmer explained the event’s new name and ownership, why resilience is a rising focus in climate conversations around the world and why The Nest Campus is organized around the idea of the “resilience economy.”
Gilmer also said that AI will play a bigger role in connecting attendees at this year’s event, even as the event explores the technology’s potential downsides. “We're not holding up AI as this kind of silver bullet,” Gilmer said. "We're making sure that we're having very balanced conversations to discuss the good and the bad and the ugly.”
Private Markets
Australia Private Credit Brief: Why Increasing Redemption Restrictions Aren't A Systemic Risk
The abundant liquidity of Australia's private credit funds may come under pressure. The weakening credit quality of some underlying assets has led some private credit funds to increasingly deploy gating mechanisms to protect fund liquidity and ensure that all investors are treated equally. These measures range from the imposition of strict redemption caps to the total suspension of unitholder exits. Widespread redemption restrictions have yet to occur in Australia.
Although more restrictions could follow, S&P Global Ratings does not believe that this signals broader industry instability.
Global Trade
Credit Conditions North America Update: What Are The Macro And Credit Effects Of The U.S.-Canada Trade Dispute?
The breakdown of trade talks and subsequent tariff escalation between the US and Canada mark a significant deepening of tensions between the closely linked economies. This could weigh on growth and credit conditions, particularly in Canada, with the immediate credit effects varying across sectors. Following the collapse of trade negotiations, the US imposed 50% tariffs on roughly $20 billion of Canadian goods, which cover about 5% of Canada’s exports to the US and 0.9% of Canada’s GDP. US President Donald Trump later said that new 50% levies on Canadian automobiles, auto parts and steel would begin next year. Canadian Prime Minister Mark Carney responded with dollar-for-dollar retaliatory tariffs, scheduled to begin Sept. 8.
These events occurred before and jeopardize negotiations of the United States-Mexico-Canada Agreement, with both sides suggesting the other has been untrustworthy. Amid the ongoing Section 301 and Section 232 investigations by the Trump administration, the White House’s transactional approach to trade and foreign policy could make for abrupt policy shifts that complicate strategic planning for governments, businesses and investors.
In case you missed it
- Black Sea grain exports are encountering new obstacles in the second month of intensified Russia-Ukraine attacks as deep-sea routes remain largely inaccessible and alternative routes are increasingly hampered by low water levels, infrastructure bottlenecks and renewed attacks.
- Swedish energy policy could broaden from a focus on nuclear as the country nears its Sept. 13 general election, with renewables players hoping for improved investment support.
- Shares of PG&E Corp. and Edison International plummeted Aug. 31 after California lawmakers filed legislation that fell short of the comprehensive wildfire liability reform that investor-owned utilities have been seeking for years.
Upcoming events
- Understanding Key Credit Risks in the Digital Infrastructure Sector | September 8 (Webinar)
- Beyond Reporting: Turning Sustainability into Business Value with CSA as a Service | September 8 (Webinar)
- Under Pressure: How Bond Markets and Sustainable Debt Are Responding to Affordability Challenges | September 10 (Webinar)