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The rush for energy

I'm writing to you from sunny New York this week where world leaders, CEOs and policymakers are meeting for the United Nations General Assembly.

The news this week is dominated by events in Ukraine and Gaza, debates over Palestinian state recognition and U.S. President Donald Trump's return to the U.N. stage.

But I'm here to cover another international crisis: the rush for energy.

With the theme of Power On, the week-long Climate Week NYC is focused this year on the need to satisfy exponential growth in energy demand from population growth, economic development and artificial intelligence.

The latter, AI, is the topic de rigeur at conferences like these. I could be at three events on the subject at any one time. But it is merited.

The energy demands of the world's AI boom – which the International Energy Agency expects to more than quadruple by 2030 - is placing serious pressure on the world's ability to transition from fossil fuels to clean energy.

I spoke to Jon Creyts, CEO of the Rocky Mountain Institute (RMI), a leading U.S. non-profit focused on clean energy, who told me this issue is "centre stage" in New York this week.

"Whether it's for data centres or factory electrification or energy access or cooling, everyone is looking for more electrons right now," he said.

And far from a separate conversation to the General Assembly, this global rush for energy is being shaped by geopolitical fragmentation, Creyts said.

"More and more you hear about individual countries wanting to locate data centres and ensure that they've got reliable 24/7 power in their respective geographies in order to support their national interests," he said.

"Increasingly it is tied into the sovereignty of individual states.”

But will that energy be clean?

And there's the question of AI and water usage. My colleagues at Context have been covering this issue in depth.

State of mind

Under Trump, the U.S. administration has also identified energy as a critical priority - but they see fossil fuels like coal, oil and gas as a major solution, or in his words: "drill, baby, drill".

Although Trump has worked to reverse the renewable energy policies of his predecessor Joe Biden, the global energy transition shows few signs of stopping.

Creyts pointed out that many countries in the Global South are accelerating the switch, including India which hit its 50% renewable energy target five years early this summer.

And while the U.N. COP30 climate summit in Brazil in November will bring together world governments, New York’s climate week has a stronger business presence.

Laura Lightbody, who directs the energy modernisation project at the Pew Charitable Trusts, said the week is a good opportunity to incubate new ideas as well as create partnerships as policymakers come to the city of finance.

With the world running out of time to avert the worst impacts of climate change, and electricity demand surging, there has never been a more important moment for clean energy to accelerate.

"I think we are just in this period of 'every solution on the table' when it comes to addressing climate," Lightbody told me.

It's up to you, New York.

See you next time,

Jack

P.S.: If you find yourself in New York, I’ll be chairing a panel on Thursday on AI and critical minerals at the ILO building. You can sign up here.