Google Signs Largest Hydropower Deal to Power AI

Today’s ESG Updates

• Google Signs Largest US Hydropower Deal: $3B deal secures 3GW of clean energy for data centres, supporting Google’s $25B AI infrastructure push.
• Trump’s 30% Tariff Threat EU Exports: Proposed U.S. tariffs could cut eurozone growth by 0.7% and cost Germany €200B by 2028.
• BlackRock Hits Record $12.5 Trillion: Asset inflows surge in Q2 even as criticism grows over the firm’s diluted ESG stance.
• Farmland Falls to Solar Expansion: UK approves record solar farms on prime farmland, raising food security and land use concerns.

Google signs the largest hydropower deal in the US to power AI

Google has signed a record 20-year deal worth $3 billion with Brookfield Asset Management to purchase 3 gigawatts (GW) of US hydropower. The announcement coincides with an AI and energy summit in Pittsburgh, with the record investment complementing the push to power AI sustainably with clean energy. As part of the same vision, Google plans to invest $25 billion over the next two years to expand its data centre infrastructure to meet AI demands. It is essential to be critical of AI’s power, as the technology requires massive amounts of energy, which can conflict with ESG goals. Experts recommend implementing ESG solutions to boost sustainable credentials. 

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Further reading: Google inks $3 billion US hydropower deal in largest clean energy agreement of its kind

Trump’s 30% tariff on Europe spells massive risk for exports

US President Trump’s threat to impose a 30% tariff on EU exports is set to take effect on August 1st, which would effectively prohibit transatlantic trade. The US accounted for 20% of EU exports last year, with Barclays economists estimating that the new tariffs could cut euro-area growth by around 0.7%. Germany alone could lose €200 billion by 2028, exposing the EU’s internal market inefficiencies. The EU urgently needs to strengthen its domestic frameworks to streamline internal markets and reduce export vulnerability. 

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Further reading: For Europe, 30% US tariff would hammer trade, force export model rethink

BlackRock hit a record $12.5 trillion valuation despite a lack of ESG commitment

BlackRock reached a new record $12.5 trillion in assets under management in Q2 2025, a gain fueled by investor resilience against tariff-related market fears. The firm collected a total of $46 billion in net inflows to long-term funds, with $85 billion in ETF inflows and $29 billion in equities. Revenue increased by 13%, driven by acquisitions such as HPS Investment Partners and strong performance in private markets and infrastructure services. Despite weakening ESG commitment, BlackRock rises to new heights as US companies struggle to double down on ESG, and European markets represent uncertainty with potential tariffs. 

Photo Credit: Wikimedia Commons

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Further reading: BlackRock Hits Record $12.5 Trillion in Assets Amid Turmoil

Farmland vs solar panels: how solar panels are changing farming

Energy Secretary Ed Miliband has overturned planning inspectors to approve Britain’s largest solar farm on 2,792 acres of prime agricultural land. Although only about 0.1% of UK agricultural land is being repurposed for solar energy, the issue highlights an increasing overlap between the farming sector and the energy sector. Farmers across the UK are shifting towards repurposing arable land in favour of sustainable schemes that utilise land. Add to this the issue of climate change and increasing changes in harvesting patterns, and farming is undergoing a fundamental shift as a business. ESG goals are proving crucial in farming and are now increasing in importance to ensure profitability as a business. 

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Further reading: ‘Is that what net zero should be about?’ Farmland falls to solar gold-rush

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Greg Bulla