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ESG in 5 - Market Update & Sustainability News - 21-05-2025

  • Writer: Anthony Walters
    Anthony Walters
  • May 21
  • 2 min read

Welcome to the 27 May edition of Clever's Weekly ESG Sustainability News, your concise update on key market movements, economic trends, and ESG developments shaping the global landscape. This week, we focus on escalating trade tensions as President Trump extends EU tariff talks, the resilience of UK markets amid rising inflation, and shifts in US indices. We also highlight Meta’s significant renewable energy commitments, silver’s rally as a safe haven, and strategic defence advancements in South Asia.



Google Signs 600 MW Solar Agreement in U.S. to Help Power DataCenters.


Renewable energy project developer energyRe has announced a new agreement with Google, enabling the tech giant to purchase Renewable Energy Credits (RECs) from a portfolio of more than 600 MW of new solar and solar with storage projects being developed by energyRe in South Carolina. 


The announcement marks the second agreement between Google and energyRe, bringing the new U.S. clean energy capacity enabled by the collaboration to over 1 GW, following a 12-year PPA signed by the companies in October 2024. 



Oxy, ADNOC Explore $500 Million DAC Carbon Removal Project in Texas.


Energy giants Occidental and Abu Dhabi-based ADNOC announced a new agreement to evaluate the launch of a new joint venture to develop a Direct Air Capture (DAC) carbon removal facility in South Texas, with ADNOC’s investment company XRG considering investing up to $500 million for the new facility. 


The new proposed project would be among the largest DAC facilities to date, designed to capture 500,000 tonnes of carbon dioxide per year. 



EU and UK to Link Carbon Markets, Creating Unified Emissions Trading System.


The European Commission and the UK government have agreed to work towards linking their carbon markets, in a move that could unify the EU and UK Emissions Trading Systems (ETS) and reshape carbon pricing across Europe. 


The announcement follows the first-ever EU-UK summit, where leaders also addressed security, migration, and energy policy. Linking the ETS frameworks would allow carbon allowances issued by either jurisdiction to be recognised under the other’s system, effectively enabling cross-border trading of emissions permits. 



Virgin Media O2 Cuts Carbon Emissions by 56% Against its 2020 Baseline.


Virgin Media O2 has announced a 56% cut in its Scope 1 and 2 emissions since 2020—confirming it’s on track to hit its 2030 target of a 90% reduction, aligned with near-term Science Based Targets. 

 

The company’s ultimate target is net zero across all scopes by 2040, a full decade ahead of the UK government’s deadline. 


Sources. 

Anthony Walters - Head of ESG at Clever Adviser Technology Ltd (Clever)

Data sourced from FE FundInfo (quoted in Pounds Sterling) 

Google Signs 600 MW Solar Agreement in U.S. to Help Power DataCenters, by ESG Today, 19/05/25 

Oxy, ADNOC Explore $500 Million DAC Carbon Removal Project in Texas by ESG Today, 19/05/25 

EU and UK to Link Carbon Markets, Creating Unified Emissions Trading System, by ESG Today, 20/05/25 

Virgin Media O2 Cuts Carbon Emissions by 56% Against its 2020 Baseline, by ESG News, 23/04/25 

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