Switched On

Brazil, the host nation of this year’s COP30, looks set to be at the center of most major carbon market developments in 2025. The country is working hard to develop its domestic carbon market, and could quickly leapfrog others in terms of scale and impact, with the ramping up of its nature-based carbon supply for international trading. At the 2025 BloombergNEF Forum Sao Paulo, Kyle Harrison, BNEF’s Head of Environmental Markets, moderated a panel titled “Brazil’s Role in the Evolution of Global Carbon Markets.” This episode brings listeners that panel, which featured Thiago Picolo, chief executive officer at re.green; Fabiana Alves, chief executive officer at Rabobank; Fabio Galindo, chief executive officer at Future Climate; and Angela Pinhati, chief sustainability officer at Natura. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to BNEF Forums and Summits: Link to BNEF's Regional Forums page - https://bbgevent.app/bloombergnef-forum-2024/#/ Link to BNEF's Flagship Summits page - https://about.bnef.com/summit/See omnystudio.com/listener for privacy information.

The European Union’s battery manufacturing sector has been struggling to stay competitive. In the face of supply chain concerns, technological barriers and record-low prices fueled by the global oversupply of battery packs, existing policy has proved too light to support local producers. Yet with the introduction of the EU’s new Action Plan, further policy support could be on its way, and Chinese battery giants are announcing production facilities in the bloc. Elsewhere, BYD has introduced a brand-new battery that could revolutionize the sector, with promises of rapid charging speeds and extended range for passenger EVs. On today’s show, Tom Rowlands-Rees is joined by BloombergNEF energy storage analyst Andy Leach and trade and supply analyst Matthew Hales to discuss their recent notes “Plan to Save EU Battery Making Marks Protectionist Shift” and “Chinese Battery Makers Double Down on European Factories”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Plan to Save EU Battery Making Marks Protectionist Shift - https://www.bnef.com/insights/36075 Chinese Battery Makers Double Down on European Factories - https://www.bnef.com/insights/35985See omnystudio.com/listener for privacy information.

The EU has taken an ax to its sustainable reporting regulations. While the bloc is widely considered the global leader for sustainable finance policy, this rollback could limit investors’ access to climate data and their ability to push capital towards the energy transition. With the ramping up of anti-ESG laws in the US, fears over competitiveness lie behind the softening of these EU policies. Yet just as these regions are watering down their requirements, Asia Pacific is stepping up, strengthening its own sustainable finance policies and potentially filling the Western void. On today’s show, Tom Rowlands-Rees is joined by BloombergNEF sustainable finance analysts Maia Mesanger and Jameson McLennan to discuss their recent notes “Sustainable Finance Market Outlook 1H 2025: Back on Track” and “EU Weakens Sustainability Leadership with Rule Rollback: React”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Sustainable Finance Market Outlook 1H 2025: Back on Track - https://www.bnef.com/insights/35863?context=eyJxIjoic3VzdGFpbmFibGUgZmluYW5jZSIsImNvbnRlbnRUeXBlIjoiaW5zaWdodCIsInJlZ2lvbiI6W10sInNlY3RvciI6W10sImF1dGhvciI6W10sImluc2lnaHQtdHlwZSI6W119 EU Weakens Sustainability Leadership with Rule Rollback: React - https://www.bnef.com/analyst-reactions/ssb4jtdwlu6800See omnystudio.com/listener for privacy information.

Southeast Asia is an up-and-coming player in the energy transition. As the region’s production capacity has grown, so have its exports of key clean-power technologies. Within Southeast Asia, favorable policy has encouraged the growth of cheap renewable energy and electric vehicle adoption. Yet recent US tariffs and aid cuts have had an impact. Just how damaging have they been, and can better regional cooperation help mitigate the fallout? On today’s show, Dana Perkins is joined by Shantanu Jaiswal, BNEF’s head of India and Southeast Asia research, and analyst Felix Kosasih, to discuss some of BNEF’s recent research including “US Climate Fund Withdrawal Imperils Indonesia’s Transition” and “Southeast Asia in Short: Energy Storage, Net Zero Push”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Southeast Asia in Short: Energy Storage, Net-Zero Push - https://www.bnef.com/insights/35639 US Climate Fund Withdrawal Imperils Indonesia’s Transition - https://www.bnef.com/shorts/ssqqiot0g1kw00?context=eyJxIjoic2luZ2Fwb3JlIiwiY29udGVudFR5cGUiOiJzaG9ydCIsInJlZ2lvbiI6W10sInNlY3RvciI6W10sImF1dGhvciI6W119 Net Zero Transition: Opportunities for Vietnam - https://www.bnef.com/insights/35529?context=eyJxIjoib3Bwb3J0dW5pdGllcyBmb3IgdmlldG5hbSIsImNvbnRlbnRUeXBlIjoiaW5zaWdodCIsInJlZ2lvbiI6W10sInNlY3RvciI6W10sImF1dGhvciI6W10sImluc2lnaHQtdHlwZSI6W119 Southeast Asia and Energy: Things to Watch in 2025 - https://www.bnef.com/insights/35745?context=eyJxIjoic2hhbnRhbnUiLCJjb250ZW50VHlwZSI6Imluc2lnaHQiLCJyZWdpb24iOltdLCJzZWN0b3IiOltdLCJhdXRob3IiOltdLCJpbnNpZ2h0LXR5cGUiOltdfQ==See omnystudio.com/listener for privacy information.

We live on an increasingly thirsty planet. Growing populations and rising demand from industry, data centers and farming have led to water stress across the globe. Even under a scenario where global warming is limited to 2C, some three billion people are projected to live in areas where water demand exceeds supply by the middle of the century. Energy-intensive desalination plants offer a solution, but what other opportunities lie in technologies that can not only increase water supply but more efficiently manage it? On today’s show, Dana Perkins is joined by Stephanie Diaz, a BNEF technology and innovation analyst, to discuss her recent research note “Tech Radar: Water Supply, Use and Treatment”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Tech Radar: Water Supply, Use and Treatment - https://www.bnef.com/insights/35987See omnystudio.com/listener for privacy information.

The cost of producing clean power has never been lower. Improving financial conditions and oversupply of key equipment drove costs to record lows in 2024. Yet while the levelized cost of electricity (LCOE) declined as a global average, different regions and technologies fell at different rates, and one key technology proved to be an outlier. On this episode, Dana Perkins is joined by Amar Vasdev, a senior associate from BNEF’s energy economics team, and Martin Tengler, BloombergNEF’s head of hydrogen research, to discuss findings from the flagship report “Levelized Cost of Electricity 2025: Record Lows”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Levelized Cost of Electricity 2025: Record Lows - https://www.bnef.com/flagships/lcoeSee omnystudio.com/listener for privacy information.

Energy-hungry data centers are on the rise. Power demand driven by artificial intelligence has been met by an increase in power purchase agreements (PPAs) for low-carbon energy. Meanwhile, DeepSeek has reduced demand through more efficient computations. So what is driving decision making at tech companies that work in the AI and data center space? At the 2025 BloombergNEF Summit San Francisco, Mark Daly, BNEF’s head of technology and innovation, moderated a panel titled “Data Center Dynamics.” This episode brings listeners that panel, which featured Steven Carlini, chief advocate of data centers and AI at Schneider Electric; Will Conkling, head of data center energy for the Americas and EMEA at Google; Kleber Costa, chief commercial officer at AES Corporation; and Darwesh Singh, founder and CEO at Bolt Graphics. To learn more about BNEF’s Summits taking place around the world and to see recordings of BNEF Talks at previous Summits, head to https://about.bnef.com/summit/.See omnystudio.com/listener for privacy information.

Annual investment in the energy transition has surpassed $2 trillion for the first time. Investors placed bets on renewable energy, power grids and energy storage, while buzzy emerging technologies fell out of favor. On this episode, Dana Perkins is joined by Meredith Annex, BNEF’s head of clean power, to discuss the report ‘Energy Transition Investment Trends 2025.’ Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: A publicly available summary report of Energy Transition Investment Trends 2025 can be found at  - https://about.bnef.com/energy-transition-investment/ BNEF subscribers can find the whole report at - https://www.bnef.com/flagships/clean-energy-investmentSee omnystudio.com/listener for privacy information.

Little connects the natural world to our lives more tangibly than the weather. Weather impacts everything from food to energy production, and shifting weather patterns have the power to shift the economy. From wind droughts to heatwaves, utilities and commodities traders are seeking a better understanding of how enhanced weather modeling could help them predict the future. On today’s show, Dana Perkins is joined by BNEF weather analysts, Jess Hicks and Willa Tobin, to discuss their recent research notes “Weather and Commodities - Nine Things to Watch in 2025” and “Shifting Weather Patterns: A Black Swan for US Commodities”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Weather and Commodities - Nine Things to Watch in 2025 - https://www.bnef.com/insights/35719 Shifting Weather Patterns: A Black Swan for US Commodities - https://www.bnef.com/insights/35305See omnystudio.com/listener for privacy information.

Banks are still spending less money on low-carbon solutions than on fossil-fuel projects. At last count, the energy supply ratio for bank financing was just 0.89 cents of low-carbon spend for every $1 spent on fossil fuels. That’s an improvement over previous years, but with a ratio of 4:1 by 2030 required to meet a 1.5C climate scenario, the world is still a long way from hitting that target. On today’s show, Tom Rowlands-Rees is joined by analyst Trina White, a member of BNEF’s sustainable finance team, to discuss the third annual Energy Supply Investment and Banking Ratios”. Together they discuss worldwide and local trends in energy financing, which banks have the highest energy financing ratios, and why the average ratio is still below 1:1 even though global clean energy investment has hit a new record and surpassed fossil-fuel financing for the first time. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Third Annual Energy Supply Investment and Banking Ratios - https://www.bnef.com/insights/35765See omnystudio.com/listener for privacy information.