Sustainability, Energy Transition, ESG | Weekly Thematic

A Spending Spree in ‘23 – But Profitable? Selectively Maybe
December 29, 2022
Companies Mentioned:
Tesla, GM, Ford, VW, Origin Materials, Danimer Scientific, Bloom Energy, Vestas, Gevo, Lucid, Rivian, DuPont, Chevron, Renewable Energy, bp, Archaea, Neste, Fulcrum Bioenergy
Commodities Mentioned:
Subjects Covered:
Recycling, Renewables, Carbon Capture, Emissions, New Energy, The Hydrogen Economy, ESG Investing, Climate Litigation, Clean Fuels

C-MACC Weekly “CRETER” (Climate etc.)

A Spending Spree in ‘23 – But Profitable? Selectively Maybe

  • More money will pour into energy transition and broader sustainability in 2023 than in 2022, but this does not mean it’s investible – profits could be scant.
  •  Investments and announcements of investments surged in 2022, and all sectors underperformed except wind and solar, which had a post-IRA 2H rally.
  • Cost inflation will likely be a significant distraction in 2023, especially for wind, solar, and storage, and price increases here could deter some investments.
  • Hydrogen has less inflationary pressure, but demand could disappoint for equipment as renewable power is elusive and costs rise. Costs will also impact EVs.
  • We like the water sector as a steady gainer and some biofuel and biomaterial companies because they could be acquired in 2023.

See PDF below for all charts, tables and diagrams

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