ESG in 5 Sustainability News - 06-05-2026
- May 6
- 2 min read
Global momentum behind climate action and clean energy continues to accelerate, with major corporates and governments deploying capital, policy and innovation to tackle emissions from multiple angles. From scaling carbon removal markets and locking in long-term renewable energy supply, to advancing alternative energy sources and national phase-out strategies, this week highlights a clear shift from ambition to execution. At the same time, emerging technologies and infrastructure are being developed to meet the growing energy demands of AI and industry, reinforcing how sustainability is becoming deeply embedded in both economic growth and energy security strategies.
Octopus Energy commits $500m to scale carbon removal.
Octopus Energy has committed $500 million to carbon removal projects, targeting the removal of 50 million tonnes of CO₂. The initiative will support a portfolio of solutions, including nature-based methods such as reforestation and advanced engineered technologies like direct air capture. The company said it is prioritising “high-integrity” removal approaches that deliver measurable and permanent impact.
PepsiCo locks in 10-year renewable energy deal across Europe.
PepsiCo has signed a 10-year renewable energy agreement with Statkraft to supply electricity across multiple European markets. The deal will provide renewable power to operations in countries including the UK, Germany and Spain, helping reduce Scope 2 emissions. The agreement supports PepsiCo’s broader target to achieve net zero emissions by 2040.
France sets roadmap to phase out fossil fuels by 2050.
France has introduced a national roadmap to phase out fossil fuels by 2050, focusing on reducing energy dependence and accelerating the transition to renewables. The plan includes expanding clean energy capacity, improving energy efficiency and strengthening domestic energy production. The government aims to significantly cut fossil fuel consumption while increasing resilience in the energy system.
Panthalassa raises $140m to power AI with ocean energy.
Panthalassa has raised $140 million in funding, led by Peter Thiel, to develop ocean wave-powered systems designed to support AI computing infrastructure. The company is building offshore platforms that use wave energy to generate electricity for data processing. The approach is intended to provide a consistent renewable power source for energy-intensive AI workloads.
TotalEnergies expands solar investment in the Philippines.
TotalEnergies will invest $300 million to build a solar project in the Philippines, in partnership with local stakeholders. The development is expected to support the country’s target of increasing the share of renewables in its energy mix to 35% by 2030. The project will contribute additional solar capacity to meet rising electricity demand while reducing reliance on fossil fuels.
