Report
It is understandable that governments in OECD countries are not trying to accelerate the energy transition
Public opinion in OECD countries is increasingly concerned about current and future climate change and is increasingly urging governments to step up the pace of the energy transition (renewable energies, electric cars, etc.). The same trend can be seen in finance, with the rapidly growing refusal to invest in some sectors (coal, etc.) and the use of ESG (environmental, social, governance) ratings . But governments in OECD countries seem to be resisting this pressure, which is understandable. A rapid energy transition would: Destroy many jobs in the automotive sector and in sectors that use or produce fossil fuels; Create a public finance problem due to the amount of tax on fossil fuels; Render a very large amount of accumulated capital unusable (in the automotive sector and in electricity generation); Create a technological dependence on Asia, particularly China.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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