Report
OECD countries: What consequences of the significant capital loss caused by COVID and the energy transition?
When considering the effects of COVID and the energy transition, we should think not only in terms of flows (growth, investment), but in terms of stock: COVID (with sectors in long-term difficulty) and the energy transition (due to the destruction of fossil fuel-related industries) will lead to significant destruction of capital stock. Even if investment increases (in growth sectors, in renewable energies, energy insulation of housing, etc.) , there will for many years be a loss in the level of capital and therefore in the level of GDP, and a loss of payroll and therefore of per capita wages and/or employment.
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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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