‘Alexa, activate carbon credits!’: the Mag 7’s nature fooprint
Amidst the rising resource intensity of data centres, the Mag 7 are embracing renewable energy, carbon credits and venture capitalism, Atharva Deshmukh takes a closer look at their environmental footprint
As market optimism over the technological prowess of artificial intelligence has soared, so too has investor confidence in the world’s largest companies riding the wave.
A group of seven companies; Amazon, Alphabet, Apple, the Meta Platforms, Microsoft, Nvidia, and Tesla collectively known as the “Magnificent Seven” or "Mag 7" have come to dominate stock market returns fuelled by optimism over AI. In 2023, the group represented about a third of the S&P500’s market capitalization and almost half of its growth.
Given the scale of their operations and their hefty position in institutional investor portfolios – how, when and at what pace these companies decarbonise is likely to be on investors’ radars.
So, what is the environmental footprint of the Mag 7? Data extracted from their latest disclosures, holds insights about where things stand and where they are headed.
This feature can be read in the first issue of NZI Spark below
