Current announced infrastructure spending plans make it the “number one” sector for global capital investment over the next ten years. Although, the infrastructure sector is intrinsically environmentally challenging in terms of greenhouse gas emissions, environmental pollution, habitat destruction and species extinction, we also believe there is an immense opportunity to promote responsible investment in this sector.
Sustainability
A tailor-made ESG strategy
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The diverging future of ESG
The outlook for sustainable investment is diverging globally, simultaneously being propelled forward by regulation in Europe and parts of Asia, most notably in China, and being significantly challenged by growing politicisation and controversy in America.
Clean Energy and Net Zero Economy – The wind in the sails
2023 will be a year of unprecedented policy support.
ESG: SFDR Regulation Level 2 is coming
We have seen two major steps in the European regulation intended to promote sustainable investment and prevent greenwashing. None has been without controversy and concerns but it continues to move the industry in Europe ahead at a faster pace than elsewhere.
Europe’s infrastructure will be green
In 2021, the 27 EU member states and the European Parliament agreed to enshrine the goal of carbon neutrality by 2050 in a „climate law“. And this „Green New Deal“ is much more than just wishful thinking, as it not only sets ambitious targets but more importantly provides for massive investments, particularly in infrastructure. So to make the most of it, the biggest winners could be direct investments in infrastructure projects.
European small caps: Active management adds alpha
Unlike large caps, where it is difficult to add value and where passive strategies can provide an effective response, for small caps, active management offers a real opportunity to outperform the market by a wide margin. Not to mention its clear benefits in terms of responsible investment and shareholder advocacy.
Greenwashing, a battle worth fighting
In a sign of the maturation of the sustainable investment industry greenwashing is moving up the agenda, with recent studies across developed markets highlighting this as a top risk identified by investment professionals for 2022. Yet, even if stricter regulations are now in place in Europe and if new accounting standards are planned, it is essential that the players in the industry discipline themselves to fight against this scourge. The very legitimacy of sustainable investment is at stake.
What happened to energy prices during COP26?
While global leaders convened in Glasgow to achieve a low-carbon future, we can reflect on a very different picture in current energy markets.