CASE STUDY 13 Ecolab and Digital Realty unlock green growth in smart water solutions through private partnerships PARTNERSHIPS The rapid expansion of data centres, fuelled by AI and digitalization, is intensifying pressure on water and energy resources. In 2025, Ecolab launched a direct-to-chip liquid cooling solution, known as “3D TRASAR”, to improve uptime, cut water use and optimize energy efficient cooling in the sector. To scale up impact, Ecolab partnered with global operators such as Digital Realty, to integrate monitoring, performance insights and onsite expertise across entire facility fleets. These collaborations create durable revenue streams that expand as each new site is added to the platform. In a US pilot with Digital Realty, the AI-powered solution is expected to reduce water use by up to 15% across 35 data centres, extend equipment life and avoid withdrawing up to 126 million gallons of potable water annually from local watersheds. Sources: Executive leadership interview with Ecolab. CASE STUDY 14 Bayer, Bunge and Chevron de-risk a new value chain by partnering via a joint venture PARTNERSHIPS Decarbonizing aviation fuel requires new sustainable raw materials (e.g. plant-based crops) that do not compete with food production or trigger land-use change. “CoverCress”, now a product in Bayer’s portfolio, is a low-input rotation crop grown between corn and soy in the US Midwest. This crop improves soil quality and creates new farm income while supplying a low-carbon oil suitable for renewable diesel and sustainable aviation fuel (SAF) production. Recognising that crop innovation alone would not secure adoption, CoverCress Inc. (CCI) reached a commercial processing/offtake agreement with Bunge Chevron Ag Renewables (BCAR) – a Bunge/Chevron joint-venture – making BCAR the key counterpart to CCI as both processor and offtaker. In parallel, Bayer acquired a 65% majority stake in CCI, while Bunge and Chevron retained the remaining 35%. This offtake agreement locks in demand and gives farmers and processors confidence in the crop’s long-term marketability, while aligning the entire value chain from seed innovation through processing to end-use under a de-risked commercial framework. This partnership is helping transform CoverCress from a breeding innovation into a commercial feedstock within a decade of R&D. Sources: Executive leadership interview with Bayer and Bunge. Partnering along the entire building value chain is a new sign of leadership. It helps to de-risk legal, financial and regulatory shifts. Miljan Gutovic, CEO, Holcim Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy 40

Already a Multi-Trillion-Dollar Market 2025