AI's power boom tests Big Tech's net-zero promises

In this week's episode of Energy Evolution, host Camilla Naschert turns the spotlight on Big Tech as part of S&P Global Energy's annual series examining how the world's largest companies are faring on their paths to net-zero emissions.

The AI infrastructure boom has driven the sector's energy appetite to new heights, and its carbon footprint is rising in tandem. Tech reporter Stefan Modrich of S&P Global Market Intelligence surveyed the top 30 IT companies by market cap, tracking targets across Scopes 1, 2 and 3. He found genuine ambition sitting uneasily alongside a commercial race to secure power at any cost.

Senior reporter Karin Rives completes the picture from the utility side. Five years into her survey of the 30 largest US electric utilities, she found that two-thirds are either not on pace to meet their climate goals, have delayed them or have scrapped them entirely. Some companies cited reliability and affordability as justification, while others are pressing ahead with new gas capacity to keep pace with a surge in electricity demand.