logo
UN chief urges tech sector to power data centers with renewables

UN chief urges tech sector to power data centers with renewables

Yahoo13 hours ago
By Valerie Volcovici
WASHINGTON (Reuters) -U.N. Secretary General António Guterres on Tuesday called on tech companies to power the build out of data centers with 100% renewable energy by 2030, even as the industry turns to gas and coal-fired power plants to meet surging demand.
The secretary general made his case for why he believes energy-hungry data centers should lock in a future of clean energy, saying the transition to renewable energy is inevitable, even as some countries and companies still embrace fossil fuels.
"The future is being built in the cloud," Guterres said in a speech at the United Nations' headquarters in New York. "It must be powered by the sun, the wind, and the promise of a better world."
His appeal to technology companies comes a day before U.S. President Donald Trump unveils his administration's AI Action Plan, which is expected to contain a number of executive actions aimed at easing restrictions on land use and energy production to unleash artificial intelligence development.
Trump has declared a national energy emergency to address the vast amounts of energy needed by data centers to power AI to compete with China and enable him to ease environmental restrictions to build more power plants fueled by gas, coal and nuclear.
Top economic rivals, the U.S. and China, are locked in a technological arms race over who can dominate AI.
At the same time, Trump has issued executive orders and signed the One Big Beautiful Bill Act that curtails the use of incentives for wind and solar energy, which dominate the queue of new power generation waiting to connect to the electric grid.
Guterres also appealed to governments to ready new national climate plans to deliver the goals of the Paris climate agreement by September that will lock-in a transition away from fossil fuels.
He said this moment is an opportunity for governments to meet all new electricity demand with renewables and use water sustainably in cooling systems.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Advent-backed NIQ raises $1.05 billion in US IPO
Advent-backed NIQ raises $1.05 billion in US IPO

Yahoo

time12 minutes ago

  • Yahoo

Advent-backed NIQ raises $1.05 billion in US IPO

(Reuters) -Consumer insights company NIQ Global [NIQ.N], backed by investment firms Advent International and KKR, said on Tuesday it had raised $1.05 billion in its initial public offering in the United States. About 50 million shares were priced at $21 each in the IPO, valuing NIQ at $6.35 billion. The move sets the stage for the company's debut on the New York Stock Exchange on Wednesday, amid a wave of recent IPOs in a market that is showing signs of revival after a prolonged slowdown. NIQ, which provides insights into consumer shopping behavior to help brands and retailers refine their products and strategies, has about 23,000 clients, including Coca-Cola , Nestlé and Sony. The Chicago, Illinois-based company is led by Jim Peck, the former CEO of credit information firm TransUnion. For the three months ended March 31, NIQ reported revenue of $965.9 million, a slight increase from the prior year. Its net loss attributable to the company narrowed to $73.7 million, compared to $173.9 million a year earlier. Proceeds from the IPO will be used to repay some debt and for general corporate purposes, NIQ said. The company's competitors include Circana and YouGov. BofA Securities and UBS Investment Bank are among the underwriters for the IPO. The listing comes more than four years after NIQ was spun off from Nielsen Holdings. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Morgan Stanley's client-screening faces deeper FINRA probe, WSJ reports
Morgan Stanley's client-screening faces deeper FINRA probe, WSJ reports

Yahoo

time12 minutes ago

  • Yahoo

Morgan Stanley's client-screening faces deeper FINRA probe, WSJ reports

(Reuters) -The U.S. Financial Industry Regulatory Authority (FINRA) is investigating Morgan Stanley over how the firm screened clients for money-laundering risks, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The probe examines client vetting, risk rankings and related practices across the Wall Street bank's wealth-management and trading operations from October 2021 through September 2024, the report said. FINRA, a non-governmental self-regulatory organisation that oversees U.S. broker-dealers under federal law, is seeking information on U.S. and international clients across Morgan Stanley's wealth unit, including E*Trade, and its institutional securities division, according to the Journal. The regulator has also requested organisational charts, reporting lines and details on the firm's client risk-scoring tool, the report added. Some employees raised concerns that the initial data sent to FINRA was incomplete or inaccurate, prompting the bank to provide additional information after the regulator flagged gaps, the Journal said. A Morgan Stanley spokesperson told the Wall Street Journal the bank has made significant investments in its anti-money-laundering and client-vetting programmes, adding that such regulatory reviews are not unique to the bank and do not indicate problems with its business or controls. Reuters could not independently verify the report. FINRA declined to comment, while Morgan Stanley did not immediately respond to a request for comment. FINRA fined Morgan Stanley $10 million in December 2018 for anti-money laundering compliance failures over a five-year period. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store