Europe Commercial Property Update Dutch EPC evidence highlights risk from stranded assets There is growing concern about how the green transition may create stranded real estate assets, impacting negatively on both lenders and investors. We can get some idea of the scale of the problem in... 23rd October 2024 · 4 mins read
Climate Economics Update EU tariffs still not weighing on China's EV exports Following a record high in August, our proprietary measure of China’s green export volumes edged down in September. Meanwhile, China’s exports of EVs to Europe surged despite the recent EU tariffs... 22nd October 2024 · 2 mins read
US Commercial Property Rapid Response Flagging previous climate risk notes In light of both Hurricanes Helene and Milton we are flagging notes where we highlighted the physical climate risks facing the US. 14th October 2024 · 1 min read
Commodities Update Taking stock of the two-speed electric vehicle rollout While electric vehicle (EV) rollouts in Europe and the US have stalled and are set to remain sluggish over the next few years, the uptake of EVs in China has surged beyond expectations. So, for all... 9th October 2024 · 4 mins read
Climate Economics Update Notes from LSE Environment Week Ahead of COP29 in November, discussions have been taking place at events in London and New York this week on all things climate. We attended the LSE’s Environment Week to hear the thoughts of... 26th September 2024 · 3 mins read
Climate Economics Update China green exports hit another fresh high Our proprietary measure of China’s green export volumes continued to rise in August to a new record high. Given that the EU tariffs have so far barely made a dent into China’s electric vehicle exports... 20th September 2024 · 2 mins read
Climate Economics Update What to make of the rise in global emissions New data released in the past week show that global greenhouse gas emissions rose by almost 2% y/y in 2023. Most of this increase was driven by growth in China’s emissions as its economy recovered... 12th September 2024 · 2 mins read
Global Economics Update Green tech and chips will remain key battlegrounds Several advanced economies have raised tariffs on imports of green technologies and semiconductors from China to address their growing trade deficits in these goods and tackle a perceived strategic... 3rd September 2024 · 5 mins read
Commodities Update Recycling’s role in securing critical minerals and metals China’s announcement last week that it would curb exports of antimony, a critical mineral, was another example of global fracturing unfolding in the commodities arena. Recycling offers an obvious way... 21st August 2024 · 3 mins read
Climate Economics Update A new high for China green exports despite EV tariffs China’s electric vehicle exports rose strongly in July despite EU tariffs coming into force. This, alongside the continued surge in battery exports, lifted our measure of China’s green export volumes... 20th August 2024 · 2 mins read
US Commercial Property Update Elevated insurance premiums continue to hit valuations The rise in severe weather events over the last five years has left property insurers scrambling to price-in physical risks, causing premium growth to reach a 20-year high. While we think the worst is... 31st July 2024 · 3 mins read
Asset Allocation Update Trump & ESG markets We think that a second term for President Trump would probably worsen the outlook for sustainable energy equities at the margin, and also add to the pessimism around stocks in the beleaguered electric... 25th July 2024 · 5 mins read
Middle East & North Africa Economics Update Egypt’s energy woes need a permanent fix The electricity blackouts that have blighted Egypt this summer may be nearing an end. But in the absence of new major gas discoveries, in the longer run rising energy demand will result in renewed... 23rd July 2024 · 5 mins read
Climate Economics Update China green exports hit a new record high Increases in solar panel and battery exports propelled our proprietary measure of China’s green export volumes to a record high in June. Given the rapid expansion in Chinese manufacturing capacity... 22nd July 2024 · 2 mins read
Climate Economics Update EU carbon price has further to fall The ~10% fall in EU carbon prices since the end of May has mirrored a similar-sized fall in European natural gas prices, and we forecast both to fall by a further 25-30% by year-end. That said, the... 17th July 2024 · 2 mins read
Climate Economics Update Injecting some nuance into high hopes for hydrogen Hydrogen could play a key role in reducing emissions in hard-to-abate sectors such as steelmaking and be a boon for countries and regions that are well placed to produce a surplus of renewable power... 10th July 2024 · 4 mins read
