Carl Bivens of Troutman Pepper Locke LLP described how energy scarcity is changing data center development deals (quoted in Law360).

• Main announcement/action: Delay risk has become the primary commercial negotiation point in data center deals; hyperscalers typically seek liquidated damages tied to rent and a contractual termination right if energy is not supplied by a certain date, while lenders and investors generally oppose lease termination rights.
• Background/details: Developers are pressing for broader force majeure carveouts — explicitly including utility delays — so schedules can be extended without triggering liquidated damages or termination; negotiations now focus on how force majeure exceptions are drafted and allocated between parties.

This analysis by Bayesian Energy in collaboration with Radiant Energy Group, commissioned by The Rockefeller Foundation, finds that adding nuclear power to clean-energy pathways for eight EMDEs reduces total system costs and infrastructure needs compared to renewables-only scenarios.

• Main finding: The study shows system cost reductions of 2–31% when nuclear is integrated versus renewable-only pathways across eight countries (Brazil, Ghana, India, Indonesia, Nigeria, Philippines, Rwanda, South Africa), with nuclear supplying 10–30% of generation by 2050 in cost-optimal scenarios and demonstrated examples such as Rwanda (31% cost reduction) and Brazil (2% reduction).
• Background & details: The modelling covers 2025–2050 and assumes at least the Modern Energy Minimum (1,000 kWh/person/year by 2050); in a scaled-ambition Ghana case (3,500 kWh/capita by 2050) the renewables-only pathway requires >300 GW generation, 40 GW storage, 50 GW transmission, while the nuclear pathway needs ~60 GW generation, 10 GW storage, 30 GW transmission. The report highlights three main barriers—government capacity, public acceptance, and project financing—and notes nuclear receives <0.2% of climate philanthropy despite providing ~20% of global clean electricity.

Eurostar and Deutsche Bahn have signed a memorandum of understanding (MoU) to explore a direct high-speed rail connection between London and major German cities, with routes planned for the early 2030s.

• Main announcement: The MoU commits Eurostar and Deutsche Bahn to explore direct services between London and cities such as Cologne and Frankfurt, targeted to start in the early 2030s; services would use Eurostar’s double-decker Celestia fleet (offering 20% more capacity and up to 50% energy savings vs the existing fleet), with approximate journey times of ~4 hours to Cologne and just over 5 hours to Frankfurt.
• Background and details: The announcement follows the first meeting of a joint UK-Germany taskforce in Berlin on 25 November to examine barriers and implementation; the article records statements from Prime Minister Keir Starmer, Transport Secretary Heidi Alexander, Eurostar CEO Gwendoline Cazenave, and DB board member Michael Peterson, and notes it coincides with German President Frank-Walter Steinmeier’s 3-day state visit (including a business roundtable at No10).
  • Taskforce meeting: 25 November, Berlin, subject: first joint UK-Germany taskforce to pave the way for direct international rail and address barriers to services.
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Sven Ostberg, Consul General of Sweden, said bilateral trade between India and Sweden could double within five years if the India-EU free trade agreement is concluded and India advances its green transition.

• Main announcement and timeline: The India-EU FTA negotiations have completed 12 chapters with 8 remaining, and the aim is to finalize the agreement by the end of 2025 with a formal signing at the India-EU summit in January 2026; Ostberg said this FTA combined with India’s green transition could allow bilateral trade to double within five years and potentially exceed $15 billion by 2030.
• Background, concrete figures and projects: Trade rose from US$2.8 billion (2016) to almost US$7 billion (2024); Swedish FDI in India ~US$2.5 billion; >280 Swedish companies operate in India employing >220,000 people. Recent MoUs: Candela Technology AB will deploy electric hydrofoil passenger vessels for water taxi services between Mumbai and Navi Mumbai Airport, and Echandia Marine AB will develop marine battery energy systems for tugboats (potentially reducing emissions by up to 30%). Also highlighted: partnership between Garden Reach Shipbuilders and Engineers and Berg Propulsion to modernize maritime capabilities. Challenges noted include complex compliance requirements and intellectual property issues affecting SMEs.

Parise and Rubin document that many sustainable mutual funds engage in ‘green window dressing’—buying sustainable assets immediately before regulatory disclosure dates and selling them afterward.

• Main finding: Using return-based measures, funds’ ESG beta rises by roughly 0.12 in the ten days before disclosure (about a 50% jump relative to earlier in the quarter) and snaps back immediately after; the pattern is sharp, recurring quarter after quarter, and absent in placebo tests and pre-rating periods.
• Mechanics & consequences: A one-standard-deviation increase in pre-disclosure ESG exposure raises the probability of receiving Morningstar’s five-globe rating by 2.1 percentage points (only 10% of funds receive the top rating); funds underperform their soon-to-be-reported portfolios before disclosure and outperform them afterward, institutional share classes attract stronger inflows, and quarterly disclosure frequency provides the opportunity for this behavior.

Bündnis 90/Die Grünen Bundestagsfraktion has endorsed accelerating geothermal deployment via the Geothermal Acceleration Act (GeoBG) while demanding stronger drinking water protections.

• Main announcement/action: The party supports a sped-up roll-out of geothermal as a central part of the heat transition to achieve climate-neutral heat by 2045, but criticises the current GeoBG for removing concrete targets (the original draft included 10 TWh of geothermal and at least 100 additional geothermal projects by 2030) and for weakening drinking water protection; it demands that geothermal be excluded from drinking water protection zones I and II.
• Background and additional details: The statement requires a clear legal distinction between hydrothermal, closed-system, and petrothermal (fracking) geothermal, calling for petrothermal/fracking methods to be excluded due to environmental risks; it notes that heat pipelines were added to the law but should be accelerated only for renewable-sourced heat, and it calls for increasing the BEW federal funding to €3.5 billion annually (special fund/Sondervermögen is available).

The European Commission has opened three Innovation Fund funding opportunities totalling €5.2 billion to support net-zero technologies, hydrogen production and industrial process heat decarbonisation.

• Main announcement: The Commission launched three calls under the Innovation Fund with €5.2 billion total: IF25 NZT call (€2.9 billion) for net-zero technologies; IF25 Hydrogen Auction (€1.3 billion) under the European Hydrogen Bank for RFNBO/electrolytic low‑carbon hydrogen (support paid as a fixed premium up to 10 years); and IF25 Heat Auction (€1 billion) under the Industrial Decarbonisation Bank to support electrified and direct‑renewable heat (output‑based fixed premium paid up to 5 years). Application deadlines: IF25 NZT until 23 April 2026, 17:00 (CET) (Info Day 16 December 2025); IF25 Hydrogen and IF25 Heat until 19 February 2026, 17:00 (CET) (Info Days 10 December 2025). Successful NZT applicants expected to sign grant agreements by Q1 2027; auction winners to sign within nine months after call closure.

• Background and implementation details: The calls aim to attract public and private capital and prioritise GHG emissions reduction, innovation, project maturity, replicability and cost efficiency, with an SME bonus point for NZT projects only coordinated/implemented by SMEs. Auctions follow a pay‑as‑bid, market‑based approach: hydrogen bids ranked by €/kg H2 and heat bids by €/t CO2 abated. Member States can use the Auctions‑as‑a‑Service scheme to allocate national funds to projects that pass evaluation but are not selected; Germany confirmed €1.3 billion of national funds for RFNBO hydrogen projects and Spain confirmed €465 million (of which €415 million for hydrogen and €50 million for industrial heat). The Innovation Fund is financed from EU ETS revenues and is estimated at ~€40 billion (2020–2030), having awarded >€15.8 billion to over 275 projects so far.

The European Commission adopts the RESourceEU Action Plan and will establish a European Critical Raw Materials Centre to accelerate deployment of Strategic Projects and reduce dependencies on single suppliers.

• Main action: The Commission will set up a European Critical Raw Materials Centre (start operations in 2026) to provide systemic intelligence, steer financing and conduct joint purchasing and stockpiling; it will be equipped via legislative proposals by Q2 2026 and will coordinate a CRM financing hub aiming to mobilise EUR 3 billion of EU funds within the next 12 months. The Commission and EIB are unlocking financial support today for two projects (Greenland Resources’ Malmbjerg molybdenum and Vulcan lithium in Germany), with an EIB financial support of EUR 250 million to these projects.
• Background and measures: RESourceEU targets near-term deployment of projects operable by 2029 and includes measures such as permit-acceleration proposals (guidance Q1 2026; Water Framework Directive review by Q2 2026), planned export restrictions on permanent magnet scrap by Q2 2026, classification of waste lithium-ion batteries/black mass as hazardous from September 2026, a pilot stockpiling operational early 2026, registration to the Raw Materials Mechanism launched 18 November 2025 with first matchmaking in March 2026, and coordinated funding streams (EIB/EBRD/InvestEU/Innovation Fund/Battery Booster/EIC) to de-risk projects.

The European Commission published the report COM(2025) 735 final on the functioning of the EU carbon market in 2024, presenting emissions, auction revenues, cap adjustments and measures for 2026.

• Main announcement/action: The Commission reports that the EU ETS generated EUR 38.8 billion in auction revenue in 2024 (EUR 24.4 billion to Member States; EUR 6.3 billion to the ETS Modernisation Fund; EUR 2.3 billion to the ETS Innovation Fund; EUR 5.6 billion to the RRF for REPowerEU). It sets the 2026 cap (e.g. 1 185 420 090 allowances for electricity/heat/industry/maritime and 24 903 076 allowances for aviation) and records adjustments due to maritime scope expansion and planned rebasing, including the cancellation of 54 243 768 allowances for 2024 to be carried out in 2026.

• Background and additional details: The report details implementation of ETS2 (upstream system for buildings and road transport) and the Social Climate Fund (SCF) (EUR 65 billion 2026-2032, mobilising at least EUR 86.7 billion including Member State minimum 25% contributions). It records the TNAC at 1.15 billion allowances (triggering MSR withdrawals of 276 million allowances Sep 2025–Aug 2026), auction price statistics (2024 average EUR 64.74/t CO2, high EUR 75.35, low EUR 49.50), and Innovation Fund portfolio and calls (portfolio planned support EUR 11.3 billion by July 2025; new calls totalling EUR 4.6 billion launched end-2024/2025).

PJM’s independent market monitor filed a complaint urging the Federal Energy Regulatory Commission to clarify PJM’s authority to delay interconnection of large new data centers until sufficient generation and transmission exist.

• Main action: The monitor requests FERC clarification that PJM can delay interconnection of large data centers pending adequate generation and transmission; the filing argues unchecked data center growth is inflating transmission costs and driving billions in higher capacity prices. The filing comes as PJM’s board prepares its own interconnection proposal.
• Background and supporting details: Enverus Intelligence® Research (EIR) estimates ~12 GW average load growth in PJM by 2035, driven primarily by data center expansion; an EIR analysis of 94 large-load tariffs across 36 utilities finds that large loads with on-site generation can better manage peaks via demand response and optimized battery storage. The note cites AEP Ohio (speculative requests fell by >50% after a new rate), SPP’s High Impact Large Load process, and Alberta’s proposed Bill 8 as examples of policy/tariff approaches to prioritize or accelerate interconnection for loads providing their own generation.

The European Commission adopted the 2025 Carbon Market Report.

• Report findings and actions: The report takes stock of the functioning of the EU ETS in 2024 and highlights developments in early 2025, noting EU ETS emissions from power and industry are ~50% below 2005 levels and the system is on track for the -62% 2030 target; it records that power-sector emissions fell nearly 11% in 2024, maritime CO2 emissions were included in 2024, aviation emissions rose by ~15% in 2024, and EU ETS revenue was €38.8 billion in 2024 (total ETS revenues to date exceed €250 billion). It also outlines ETS cap adjustments taking effect in 2026: rebasing (one-off reduction), expansion to methane and nitrous oxide from maritime transport, and revisions based on the updated list of small emitters.
• Background and implementation details: The report links emissions trends to increased wind and solar, gas replacing coal, and a historical low share of emissions from hard coal; industrial emissions decreased slightly with sectoral variation (steel, fertilisers, chemicals showing modest recovery). Shipping compliance was high (companies surrendered allowances for >99% of requirements by 30 September; in 2025 they surrendered allowances covering 40% of their 2024 emissions), and Member States have primarily used 2024 ETS revenues for renewables, grids and storage, energy efficiency, heating and cooling, and public transport (examples: Denmark offshore wind/biogas upgrades, Lithuania deep retrofit residential projects, Portugal public transport expansion, Slovenia rail and cycle-path investments). Publication date: 3 December 2025. Author: Directorate-General for Climate Action.

The Prudential Regulation Authority (PRA) has published PS25/25 and finalised SS4/25, replacing SS3/19, to update supervisory expectations for banks and insurers on managing climate-related risks, effective 3 December 2025.

• Final policy and immediate effect: The PRA replaces SS3/19 in its entirety with SS4/25, effective on publication 3 December 2025; firms are expected to conduct an internal review and develop action plans within six months of commencement but are not required to close all gaps within that period. The PRA received 59 responses to CP10/25 and made clarificatory changes on proportionality, scenario analysis, data expectations, governance, and litigation risk; it invites the Climate Financial Risk Forum (CFRF) to update guidance and case studies to support firms.
• Programmatic clarifications and scope: The final policy emphasises proportionate application based on business model and geographical exposure, clarifies the six-month review is for gap analysis and planning (not immediate implementation), recognises litigation risk may be treated as a distinct transmission channel depending on firm judgement, and adjusts data expectations from requiring quantification of uncertainty to requiring firms to understand data uncertainty and use appropriate proxies where necessary.

The IAEA is hosting the first International Symposium on Artificial Intelligence (AI) and Nuclear Energy at its Vienna headquarters and has signed an agreement with Atomic Canyon to explore AI solutions for nuclear information management.

• Main announcement: The IAEA launched a two-day symposium at IAEA headquarters, Vienna (kicked off today) bringing together senior representatives from government ministries, international organisations, the nuclear industry and major tech firms (including OpenAI, Google, Oracle) to discuss how nuclear energy can meet AI data centre electricity demand and how AI can support nuclear technology; programme and livestream are available on the IAEA website.
• Background and partnership details: The IAEA signed an agreement with Atomic Canyon to explore collaboration and evaluate a proof of concept for AI in nuclear information management; the symposium includes five panels and side events such as the ISOP AI for Nuclear Power Working Group, focusing on technical and regulatory interfaces and data governance (no specific implementation timeline provided in the article).

Global automakers have cited ongoing India-EU FTA negotiations and Chinese export restrictions on rare earth magnets as reasons for not participating in India’s SPMEPC, Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma told the Lok Sabha.

• Main announcement/action: Global automakers (OEMs) indicated they may delay a decision on participating in the Program to Promote the Manufacturing of Electric Passenger Cars (SPMEPC) until the India-EU FTA is finalized; the MoS (Minister of State for Heavy Industries) provided this information in a written response to the Lok Sabha.
• Background & scheme details: SPMEPC (established 15 March 2024) permits import of fully assembled electric cars with a minimum CIF value of $35,000 at a concessional import duty of 15% for five years, conditional on companies making a minimum investment of $500 million (over Rs 4,300 crore) to start local manufacturing; automakers also cited investment threshold requirements, timelines, and Chinese restrictions on rare earth magnets affecting DVA targets as concerns.

Mondrian AI attended a global MOU signing to join an EU Horizon Europe project for sustainable smart land-based seaweed aquaculture and biorefinery systems.

• Main announcement/action: Mondrian AI (대표 홍대의) participated in the MOU signing at the 2025 IFEZ Global ESG-AX Forum on 2025-12-01 (Songdo Convensia) to formalize cooperation with global partners and jointly prepare a 2025 Horizon Europe proposal to build a sustainable smart land-based seaweed aquaculture and biorefinery system; Mondrian AI will lead development of the AI–ICT based smart land-based seaweed farming platform (real-time integrated monitoring, growth prediction, continuous farming operations, energy-efficient autonomous control, intelligent risk detection).
• Background and details: The ceremony included representatives from Ghent University Global Campus, Dongwon F&B, KIST Gangneung branch, KCL, Korea Institute of Analytical Science, Hyungji Elite, and local governments (Incheon Metropolitan City, IFEZ, Ganghwa County, Ongjin County). The event was hosted by IFEZ and organized by Incheon Technopark, featured an opening program with a keynote on sustainable cities & AI, and sessions on bluebio & AI innovation; participating institutions will jointly submit the Horizon Europe project proposal in 2025.

The UK Partnering for Accelerated Climate Transitions (UK PACT) programme launched the Philippines Country Fund in Manila to support the Philippines’ low-carbon transition.

• Main announcement: The Philippines-UK PACT Country Fund has begun implementation in its first year, identifying the energy sector as a key priority and delivering four strategic interventions: (1) offshore wind pricing model update and offshore wind infrastructure & developer readiness assessment, (2) marine spatial planning for offshore wind, (3) an electric power system cost simulation tool, and (4) micro-grid deployment acceleration in unserved and underserved areas. The Fund aligns with the Philippines’ commitments to reduce and avoid greenhouse gas emissions by 75% by 2030 and the Philippine Energy Plan 2023-2050 RE targets: 35% by 2030, 50% by 2040, and RE dominating by 2050.

• Background and implementation details: The launch convened stakeholders from DOE, ERC, DENR, development partners, academia, civil society, and the private sector in Manila to align objectives and share technical expertise; the Fund is jointly governed/funded by the UK FCDO and DESNZ through the UK’s International Climate Finance and focuses on technical assistance and capacity-building. The programme explicitly targets offshore wind auction design, multisector marine planning, data-driven energy planning tools, and micro-grid scaling as concrete, near-term interventions.

The Government of Canada (Fisheries and Oceans Canada) decided not to list American eel under SARA and will manage the species under the Fisheries Act using an adaptive management approach.

• Main action: Governor in Council decided NOT to list American eel under the Species at Risk Act (SARA); DFO will manage the species under the Fisheries Act using an adaptive management approach to update protection and management measures as new science and Indigenous and local knowledge become available. DFO will continue measures to minimize habitat alteration, improve migration passages, increase sustainability of American eel fisheries (including the elver fishery), enhance science and data, and monitor effectiveness.

  • Decision documents will be posted on Canada Gazette, Part II on December 17, 2025.

• Background and implementation details: The decision follows public engagement and consultations with Indigenous groups, provinces, partners, stakeholders and the Canadian public, and a 2024 national CSAS review that found population abundance relatively stable over two decades. COSEWIC previously assessed American eel as threatened. Identified threats include habitat alteration, dams and turbines, fishery harvest, climate-change-related ocean changes, contaminants, and parasites. Canada is supporting an international solution at CITES CoP20 focused on data-sharing and traceability for eel fisheries.

The U.S. Department of Energy has announced a $400 million grant to the Tennessee Valley Authority to accelerate deployment of GE Vernova Hitachi Nuclear Energy’s BWRX-300 small modular reactor.

• Grant and purpose: The DOE awarded $400 million to TVA to accelerate deployment of the BWRX-300 SMR; the first unit is targeted for commercial operation in the early 2030s at the Clinch River Site (Oak Ridge, Tennessee), and the project coalition included GE Vernova Hitachi and other utility/industry partners.
• Background and next steps: TVA submitted a construction permit application to the NRC in May 2025, the NRC is currently reviewing the application, and GE Vernova’s nuclear business (in alliance with Hitachi) and its Global Nuclear Fuel operations (Americas and Japan) are cited as supply-chain participants.

The BMW Group has announced a new 2035 climate milestone to reduce CO2e emissions by at least 60 million metric tons versus 2019, an additional ~20 million tons beyond the existing 2030 target.

• Main announcement: BMW Group defines a new 2035 milestone to cut CO2e by at least 60 million metric tons compared to 2019 (adds ~20 million tons on top of the 2030 goal); the company reiterates its commitment to net zero by 2050 and alignment with the Paris Agreement.
• Key measures & details: Focus areas include renewable energies in production and supply chain, increased use of secondary raw materials (notably for high-voltage batteries, aluminum, steel), efficiency improvements in the use phase (e.g., BMW EfficientDynamics; new iX3 uses up to 20% less energy (WLTP combined)), and product/process innovations such as Gen6 battery technology; since 2020 all externally sourced electricity for BMW plants comes exclusively from renewable sources, and the iX3 plant in Debrecen, Hungary operates without fossil fuels in standard operation.

TAE Technologies and the UK Atomic Energy Authority (UKAEA) have announced a new joint venture, TAE Beam UK, to commercialise TAE’s particle accelerator technology and develop neutral beams for fusion and other applications.

• Main announcement: The partners will form TAE Beam UK based at UKAEA’s Culham Campus (Oxfordshire) to design, develop, manufacture and service neutral beams for fusion and adapt the accelerator technology for cancer therapeutics, food safety and homeland security. UKAEA will make an equity investment of £5.6 million, and the venture is backstopped by TAE’s own nine-figure investment; the project aims to deliver first short-pulse beams within 18–24 months from start of work, subject to customary regulatory approvals.
• Background and implementation details: The JV will leverage UKAEA’s decades of expertise operating JET and TAE’s patented accelerator R&D and UK facilities (including TAE Power Solutions in the West Midlands). The announcement ties into the UK–US Technology Prosperity Deal and UK government support referenced as over £2.5 billion backing for the fusion industry; the JV will focus on establishing a UK-based supply chain and creating high-skilled jobs.