Welcome back: Some 180 gigawatts of electricity will be needed by 2040 to power data centers in the U.S., according to analysis by consultants Bain & Co. That’s on top of an estimated 120 gigawatts of incremental electricity demand from other domestic consumers and businesses. 

In a recent report, Bain notes that the U.S. hasn't a single new nuclear project under construction. Planned projects announced so far by utilities, tech companies, and industrial firms—totaling around 13 gigawatts of new nuclear energy capacity by 2040—barely scratch the surface of the domestic market opportunity, it says.

It identifies three areas on which to focus to kick-start the nuclear industry: forward-thinking business models; robust supply chains; and taking short and long-term approaches to scaling up technologies.

“The first few units of any nuclear build are always the most challenging, said Grant Dougans, partner in Bain & Co’s energy and natural resources practice. "Innovation and partnership between utilities, tech companies, regulators, and policymakers will be critical to de-risk and accelerate the next wave of U.S. projects while ensuring safety at speed.” 

On Friday, President Trump signed executive orders to boost the U.S. nuclear industry, citing the need to overhaul regulations and fast-track licenses. Read on for more on this story and other sustainability news.

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President Trump is aiming to accelerate the slow-moving nuclear power industry through a series of executive orders signed last week. The goal is to quadruple nuclear power generation in the next 25 years, a target that would require the industry to overcome a history of cost and timeline overruns, the WSJ's Jennifer Hiller and Scott Patterson report.

Big tech is driving much of the push. Building advanced AI systems will take city-sized amounts of power, which has turbocharged electricity demand projections for the first time this century.

But the tech giants are running into backlogged supply chains and challenges obtaining the specialized equipment needed to connect to the grid. Amazon.com and Google are among those that have signed agreements to buy power from future nuclear projects. Meanwhile, the industry expects to lean heavily on natural gas power plants and renewable power.

Although nuclear power is seen as an attractive zero-carbon energy alternative to coal and natural gas, new plants take years to be approved and permitted and a decade or longer to build. Trump’s executive orders seek to dramatically shorten that time frame.

Some of banks which recently cut ties with the Net-Zero Banking Alliance have now shifted how they talk about their climate efforts. In annual meetings in recent weeks, Wells Fargo, Bank of America, Goldman Sachs faced questions about their carbon-emissions goals and fossil-fuel financing, WSJ Pro Sustainable Business's Clara Hudson reports.

At Wells Fargo's AGM, Jennifer Conovitz presented a shareholder proposal on the behalf of the New York City Comptroller's retirement funds, stating Wells Fargo’s departure from the NZBA, as well as its emissions target rollbacks, “limit investor visibility into how the bank is managing its long-term climate-related risks and energy transition opportunities.”

CEO Charles Scharf said the bank will maintain its  sustainablility goals.

Some banks are shifting what they disclose about climate in their investor filings, or how they talk about it. Bank of America had a section on “Climate-related Goals and Targets” in an annual investor report in 2024 that didn’t appear in a similar document this year. In response, BOA said it had devoted significant resources to promoting the clean enregy transition.

Goldman Sachs had a “Spotlight on Sustainability” section in its proxy statement in 2024. That section was omitted this year. It said it will continue to “devote significant resources” to sustainability disclosures.

Data-center wars have erupted in West Virginia.

Last month, in a bid to entice tech firms, the state passed legislation promoting the use of natural gas and coal to power artificial-intelligence projects. But residents are fighting the proposal—determined to keep big tech out of one of the most scenic and ecologically diverse stretches of Appalachia, the WSJ's Kris Maher reports.

Similar clashes are happening in other states. 

In the AI boom, tech companies are scouring America for land and energy sources to run their power-hungry data centers. These warehouselike structures have exploded in hubs such as Northern Virginia, but more remote areas see opportunity, too.

But West Virginia’s law is unusual. Boasting the “least restrictive regulatory environment in the nation,” it prohibits local officials from having any input into where off-grid data centers go. This provision appears to be a nationwide first and is angering mayors and commissioners statewide.

• GM invests in V-8 Engines as it reverses on EVs. (WSJ)
   
• Angry Elon is back. That’s good for Tesla. (WSJ)
   
• Enel increases U.S. renewable energy capacity. (WSJ)
   
• Thames Water hit with record $166 million fine by watchdog. (WSJ)
   
• Oil prices rise as Trump expresses renewed frustration with Putin. (WSJ)
   
• Starbucks launches compostable, recyclable cups. (ESG Today)
   
• Australia lets biggest LNG plant run to 2070. (Bloomberg)
   
• EU close to reaching climate goals despite green backlash. (FT)
   
• Supreme Court declines review of Arizona copper project. (WSJ)
   
• Global forest loss hit a record last year as fires raged. (NYT)
   
• German court rejects Peruvian farmer's landmark climate case. (BBC)

WSJ Pro Sustainable Business gives you an inside look at how companies are tackling sustainability. Send comments to bureau chief Perry Cleveland-Peck at perry.cleveland-peck@wsj.com and reporters Clara Hudson at clara.hudson@wsj.com and Yusuf Khan at yusuf.khan@wsj.com. Follow us on LinkedIn at wsjperry, clara-hudson and yusuf_khan.