5 best news for February
ExxonMobil to Invest $30 Billion in Low-Carbon Technologies
American oil company ExxonMobil announced plans to invest $30 billion by 2030 in low-carbon technologies, including carbon capture, hydrogen, biofuels, and lithium infrastructure. This is a significant increase from its previous commitment of $3 billion. However, unlike European companies, Exxon does not plan large-scale investments in renewable energy but will focus on technologies where it sees competitive advantages. This decision has sparked mixed reactions among environmental organizations and analysts, who believe such investments are insufficient to achieve substantial carbon emission reductions.
EU Introduces Clean Industrial Deal to Lower Energy Costs
The European Commission has introduced the Clean Industrial Deal, aimed at reducing energy costs and promoting the transition to clean technologies. The program includes investments in renewable energy, enhancing energy efficiency, and creating new jobs in green sectors. This initiative is part of the EU’s strategy to achieve climate goals and reduce dependence on fossil fuels.
IMF Lowers Global Growth Forecast Due to Trade Wars
The International Monetary Fund has downgraded its global economic growth forecast to 2.8% for 2025 due to escalating trade conflicts, particularly between the U.S., China, Canada, and Mexico. U.S. inflation could rise to 4%, which may reduce consumer demand and investment. These factors create additional risks for global economic stability.
UK Revises Economic Growth Forecast Due to U.S. Tariffs
The United Kingdom has revised its 2025 growth forecast down to 0.8% due to the introduction of 10% tariffs on British exports and 25% on steel, aluminum, and cars by the U.S. The 2026 forecast has been lowered to 0.9%. These measures are expected to reduce exports, increase business and consumer costs, and lead to higher unemployment rates.
AI Action Summit in Paris: Global Initiatives for AI Development
The AI Action Summit held in Paris on February 10–11, 2025, saw 58 countries sign a joint declaration for the inclusive and sustainable development of AI. The European Union announced the InvestAI initiative, worth €200 billion, and France introduced the Current AI fund, worth $400 million. Additionally, the Coalition for Sustainable AI was established, with 11 countries and 37 tech companies joining.