C-MACC Weekly “CRETER” (Climate etc.)
The Money Go Round: Finance Is Backing Away From Transition
- A combination of rising rates and some small public companies in trouble is causing potential private financers of energy transition/sustainability to pause.
- Money is getting more expensive and is less interested in the riskier newer technologies that most agree are needed in some form for transition to succeed.
- Development capital is particularly hard to find, and companies that have managed new technology companies poorly are making it hard for the rest.
- 2023 is likely to be a year of shakeout rather than progress, with some further high-profile failures – if Virgin Orbit can fail, so can many transition stories.
- Otherwise, we look at a flood of chemicals, the necessary rise of CCS, the fall of lithium, some more silly politics, and what ChatGPT thinks of nuclear.
See PDF below for all charts, tables and diagrams