In this week's episode of Energy Evolution, host Camilla Naschert turns the spotlight on Big Tech as part of S&P Global Energy's annual series examining how the world's largest companies are faring on their paths to net-zero emissions.

The AI infrastructure boom has driven the sector's energy appetite to new heights, and its carbon footprint is rising in tandem. Tech reporter Stefan Modrich of S&P Global Market Intelligence surveyed the top 30 IT companies by market cap, tracking targets across scopes 1, 2 and 3. He found genuine ambition sitting uneasily alongside a commercial race to secure power at any cost.

Senior reporter Karin Rives completes the picture from the utility side. Five years into her survey of the 30 largest US electric utilities, she found two-thirds are either not on pace to meet their climate goals, have delayed them or have scrapped them entirely. Some companies cited reliability and affordability as justification, while others are pressing ahead with new gas capacity to keep pace with a surge in electricity demand.

Europe’s increasingly digital power system faces a rapidly evolving mix of cyberattacks, physical sabotage and supply-chain vulnerabilities, with artificial intelligence amplifying both the risks and the defenses.

Host Camilla Naschert speaks with Eurelectric CEO Kristian Ruby and European Initiative for Energy Security Executive Director Albéric Mongrenier about how utilities are responding to AI-enabled threats, state-backed and non-state actors, and attacks on critical infrastructure.

They examine whether Europe’s regulatory framework and security investment are keeping pace, how operators should approach equipment and vendor risk, and why stronger civilian-military coordination will be essential to keep the lights on.

The US offshore wind sector is facing a new front in its battle with the Trump administration: lease buyouts. In this episode of Energy Evolution, renewables reporter Noah Schwartz tells host Camilla Naschert about federal deals that allow offshore wind developers to cancel leases in exchange for fossil fuel investment commitments and government reimbursement.

S&P Global Energy offshore wind analyst John Murray explains the financial and regulatory pressures facing developers, while former Bureau of Ocean Energy Management head Liz Klein discusses the legal challenges, state-level opposition and national security arguments surrounding offshore wind.