Today’s ESG Updates
- AI’s Growing Energy Demands: To meet rising energy needs from AI and ESG targets, companies like Microsoft are investing in renewable energy.
- Alfa Romeo Shifts Strategy: Alfa Romeo drops its full EV plan, opting for a mix of electric, hybrid, and combustion vehicles.
- Shell Acquires Power Plant: Shell expands its energy portfolio with the acquisition of RISEC Holdings and a combined-cycle power plant.
- North Africa Leads Green Hydrogen: North African nations position themselves as key green hydrogen producers, attracting EU interest for imports.
AI energy demands are becoming challenging for tech industries
Corporations are investing heavily in AI, leading to increased energy usage. Higher energy demand from AI has led to increased fossil fuel dependency, which companies like Microsoft are tackling by investing in renewable energy and more efficient AI infrastructure. This trend provides tech companies with the challenge of balancing ESG targets with energy demands. Companies looking to utilise AI to meet ESG targets can do so with the use of AI solutions.
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Further reading: Tech industry works to meet AI’s energy demands as ESG use cases grow
Alfa Romeo adopts a multi-energy approach in favour of a full-EV strategy
Alfa Romeo has announced that it is abandoning its plans to go fully electric by 2027, instead choosing to offer electric, internal combustion and hybrid products. This move comes in light of multiple automakers reconsidering their EV plans, citing that a full EV strategy is not currently sustainable in the long term. Alfa Romeo hopes that a change of strategy will keep them competitive in the market as they continue to lose market share and struggle to shift inventory.
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Further reading: Alfa Romeo Changes Its Mind, Gas Engines are Staying
Shell acquires combined-cycle power plant in Rhode Island
Shell Energy North America (SENA), a part of Shell, has acquired 100% ownership of RISEC Holdings. A 609-megawatt combined-cycle gas turbine power plant is the key asset acquired in the deal, expanding Shell’s energy portfolio in North America and allowing uninterrupted energy supply in the region. With this purchase, Shell has cemented itself as a leader in the ISO New England power market.
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Further Reading: Shell completes acquisition of combined-cycle power plant in priority U.S. trading market
North Africa is emerging as a key player in the green hydrogen race
North Africa is emerging as a key region for green hydrogen as countries like Egypt, Morocco and Algeria capitalise on their abundant natural resources. The region’s proximity to Europe highlights it as an ideal hub for hydrogen production and exportation. An expected 41 hydrogen projects are in development in Africa, with EU countries considering repurposing gas infrastructure to import hydrogen from North Africa. Businesses looking to align with the sustainability market can consider ESG solutions.
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Further reading: North Africa could lead clean Hydrogen race
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Igor Omilaev
