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The development of infrastructure in cities and regions across the world is critical to economic growth and social well-being. As such, securing the funding needed to support the global infrastructure sector—currently in the tens of trillions of dollars—is a key issue for governments and policymakers.
As we enter 2026, AI and the data center infrastructure that supports it are dominating investment conversations. This is particularly the case in the U.S., where huge growth in data center projects in 2025 attracted significant capital expenditure that we expect will persist--at a forecast rate of over $900 billion over the rest of the decade.
But discussions of a potential market corrections have intensified, even if those fears have hardly dampened persistent investment momentum. S&P Global Ratings' research into the rapidly evolving market dynamics has identified key emerging vulnerabilities, that we consider crucial to assessment of the sector’s long-term resilience.
Rated oil and gas producers should be able to deliver on short-term greenhouse gas reduction targets for their own operations, but achieving net zero requires technological advancements and supportive policy. This is the main finding of this research, which explores potential risks for oil and gas companies amid evolving emissions regulations.
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