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Daily Update — March 14, 2025

Advanced Recycling; AI’s Role in Congress; and Private Credit vs. Public Debt

Today is Friday, March 14, 2025, and here’s your curated selection of essential intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.

Energy Transition & Sustainability

When does advanced recycling commoditize?

 

Eric Appelman, Aduro Clean Technologies' chief revenue officer, joins S&P Global Commodity Insights’ senior price reporter Daniel Pelosi and chemicals market reporter Tareen Kazi for a discussion on advanced recycling. Topics include advanced recycling challenges by region, how to improve the economic scalability of circular recycling, and the importance of creating incentives and a market for circular products.

 

The “Chemical Week” podcast is the industry's premier platform for wide-ranging discussion of issues impacting the global chemicals sector, hosted by editors from Chemical Week and S&P Global Commodity Insights. Subscribe to “Chemical Week” on your favorite platform, or visit chemweek.com/podcast to view the episode archive.

Artificial Intelligence

CERAWEEK: Panelists say AI race could speed up US passage of permitting reform

 

The urgency for the US to enhance its AI capabilities could lead to Congress enacting legislation aimed at streamlining the permitting process for energy-related infrastructure, according to speakers at S&P Global’s CERAWeek energy conference. Some panelists emphasized the need for permitting reform, suggesting that the fear of falling behind in AI advancements could catalyze such changes. 

 

Industry experts highlighted that reforming permitting is crucial for increasing domestic energy production to meet the rising electricity demand from datacenters, which are projected to account for up to 12% of national electricity consumption by 2028. Previous bipartisan efforts to pass broad permitting legislation collapsed toward the end of the Biden administration, but there are indications that the Trump administration is focused on expediting the permitting process for energy projects. 

 

Learn more about AI’s role in the US energy industry at S&P Global Market Intelligence’s upcoming webinar, Talk to the Specialists: An AI-fueled resurgence story – US datacenters and nuclear energy outlook.

Private Markets

Private Credit vs. Public Debt and Traditional Financing

 

The private credit market has grown substantially and become an integral part of the global financial system, particularly as traditional banks have tightened their lending practices due to increased regulatory scrutiny and risk aversion following the 2008 global financial crisis. The expansion of private credit can be attributed to factors such as institutional investors seeking higher yields, increased market sophistication and a growing awareness of the unique characteristics of the asset class. The market encompasses various debt strategies, including senior debt, subordinated capital and credit opportunities, each catering to different financing needs and risk profiles.

 

There are key differences between private credit and public debt in terms of liquidity, accessibility and transparency. Private credit investments are typically illiquid and not publicly traded, which can lead to higher yields but requires longer investment horizons. In contrast, public debt, such as corporate bonds and government securities, offers greater liquidity and accessibility for investors but lower yields due to increased competition. Transparency is another distinction; public debt adheres to stringent regulatory requirements, while private credit lacks uniform reporting standards, necessitating a strong reliance on borrower relationships and fund manager expertise to assess credit risk. 

In case you missed it

  • Claim numbers for Australian insurers have significantly increased following Tropical Cyclone Alfred, but it is still too early to determine the total damage or how insurance premiums will be affected.
  • OPEC+ crude output surged in February as the group struggles to maintain production discipline and readies for higher quotas from April.
  • Earnings results for 2024 confirmed previous trends, with European banks reporting solid profitability and overall robust financial metrics.