Daily Update: COP30 Expectations; AI Agent Releases; and Private Credit’s Opacity Problem
Today is Tuesday, November 18, 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
This episode of the “All Things Sustainable” podcast covered what to expect from the 2025 UN Climate Change Conference (COP30), held Nov. 10–21 in Belém, Brazil. At this annual summit, world leaders convene to work on climate change solutions. COP30 is known as the "Implementation COP” because it will focus on turning climate commitments into action.
To learn more, hosts Lindsey Hall and Esther Whieldon sat down on the sidelines of the PRI in Person conference in São Paulo with Marcos Neto, assistant secretary-general at the UN Development Programme (UNDP) and director of the UNDP’s Bureau for Policy and Programme Support. Neto explained the themes he’s watching during COP30, including financing needs, the climate-nature nexus, the rising focus on adaptation and resilience, and the evolving role of insurance in climate conversations. Neto also discussed the UNDP’s work helping countries develop nationally determined contributions, which are updated every five years to outline countries’ plans for achieving Paris Agreement on climate change goals.
Artificial Intelligence
In its October DevDay announcements, OpenAI said users will be able to engage with other applications and take actions directly within ChatGPT via agents, highlighting the platform’s growing extensibility. This has major implications across the technology ecosystem as the intelligent, conversational interface becomes the operating center for work and consumer life, with ChatGPT positioning itself at the core of all digital interactions.
In parallel, OpenAI continued its spending spree in October, signing supplier deals with Advanced Micro Devices, Oracle, Nvidia and Broadcom to secure critical infrastructure. These deals potentially amount to trillions of dollars in spending over the next decade, overshadowing OpenAI's estimated revenue of about $13 billion in 2025. The company's future hinge on whether it can grow revenue fast enough and keep attracting outside funding to cover its costs.
Private Markets
Private credit is facing unprecedented growth — and commensurate growing pains. In this blog series, S&P Global Market Intelligence’s head of iLEVEL private credit, Jocelyn Lewis, examined how some crucial technologies are helping to build trust in private credit by supporting greater transparency.
Private credit is notoriously complex, involving highly individualized deal structures, lengthy loan documentation and nuanced performance metrics. Managing that complexity using spreadsheets, point solutions and manual processes results in a lack of visibility. Despite this, the asset class is estimated to be over $1.7 trillion in assets under management globally, according to S&P Global Market Intelligence research, rivaling the size of the public high-yield bond market.
In case you missed it
- It could be another 25 years before the world reaches peak oil demand under the current policy climate, the International Energy Agency said Nov. 12, citing shifting US decarbonization goals, rapid growth in electricity consumption and slowing adoption of electric vehicles as factors shaping its revised long-term outlook.
- Global demand for vegetable oils from the biofuel sector is surging, pushing international prices to their highest levels since mid-2022.
- Ongoing logistical challenges in Ukraine's internal market are significantly delaying corn availability at ports, resulting in rising prices, according to traders.
Upcoming events
- Sustainability Unchained: Addressing risks in retail supply chains | November 20 (Webinar)
- Africa Summit 2025: The Path to Capital Markets | November 20 (Johannesburg)
- Unlocked Insights: Strategic Shifts in the Evolving Media Landscape | November 20 (Webinar)
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3dCOP30, to be held in Belém, Brazil, in 2025, is known as the "COP of action" and will focus on turning climate commitments into action. World leaders are expected to consolidate their national climate plans and accelerate the pace of targeted strategies to reduce emissions in key sectors such as energy and transport, and to establish clear targets for climate adaptation and resilience. The need to reform global financial systems to support green and inclusive economies, especially to ensure that funds reach the most vulnerable communities, was also emphasized. The summit will also highlight the need to protect nature, strengthen food systems, and defend the rights of indigenous peoples as key to synergistically addressing the climate and nature crises. GitHub: https://github.com/Fernando92756 Kaggle: https://www.kaggle.com/fernandollsalvador Youtube: https://www.youtube.com/@fernandoliazarluembasalvad1364 LinkedIn: https://www.linkedin.com/in/fernando-liazar-luemba-salvador-b29428234/ Instagram: https://www.instagram.com/fernandoliazarsalvador/ TikTok: https://www.tiktok.com/@fernandosalvador510?lang=pt_BR Facebook: https://www.facebook.com/fernandoliazarsalvador.carmo/ Twitter: https://x.com/LiazarFernando