Despite Trump's efforts to reverse climate protections and boost fossil fuels, Citigroup analysts remain optimistic about the energy transition. They argue that the transition is further along than during Trump's first term and that the economic benefits of clean energy are compelling.
Peter Hodson of I2I Capital Management shares his analysis on the market reaction to Trump's first week back in the White House.
The energy transition is more advanced today than during Trump’s first term, and the desire to generate cheap, secure sources of power fit the “smart, technologically innovative, policy-supportive, and economically viable solutions” that green energy offers, they said. But none of the short-term fallout of Trump’s policies changes the fact that there remains a “compelling case” in favor of a transition away from fossil fuels, the Citigroup analysts wrote.
Christian Kleboth, head of debt mobilization at the London-based European Bank for Reconstruction and Development, says there continues to be considerable demand for financing for clean energy in Europe, Central Asia and the Mediterranean region. The Citigroup analysts also touched on Wall Street’s exit from the world’s largest climate-finance alliance for banks, known as the Net-Zero Banking Alliance. The exodus from NZBA, including Citigroup’s own decision to leave, “neither impedes progress nor dilutes efforts” to transition the economy away from high-carbon assets, according to the analysts.
Energy ENERGY TRANSITION CLIMATE CHANGE DONALD TRUMP FOSSIL FUELS RENEWABLE ENERGY
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