The world’s clean energy transition has a hidden energy hog: the industrial gas sector, Bloomberg writes.
Its factories quietly burn through more electricity than Google or Shell—fueling everything from toothpaste to MRIs—while facing growing pressure to prove its climate credentials.
A new report from advocacy group Action Speaks Louder finds the industry’s top players—Linde, Air Liquide, and Air Products—lag in reducing emissions while controlling 70% of the $120 billion global market. Their massive air-separation plants, which turn air into liquid to extract gases like oxygen and nitrogen, account for roughly 2% of carbon dioxide emissions in China and the U.S.
While these companies tout renewable energy goals, much of their progress hinges on renewable energy credits rather than direct clean power. Linde secures nearly half its electricity from low-carbon sources but only about 14% from verifiable renewables. Air Products targets 90% renewables by 2030, yet its disclosures lack clarity.
Investors are now pressing industrial gas suppliers to align with the Paris Agreement, warning that their slow energy transition risks not only the planet—but their bottom lines.
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