How Are Yours Hanging? The Fruits of Sustainability No Longer Hang Low!

C-MACC Weekly Sustainability and Energy Transition Report

How Are Yours Hanging? The Fruits of Sustainability No Longer Hang Low!

• 1^st Topic of the Week: We look at slowing momentum in several sectors and question how much is a function of incentives and how much is a function of steep opportunity curves – the easiest projects have been done, and now they get harder. This is true with wind and solar resources, but also with polymer and battery recycling. For green hydrogen, there are very few easy projects as you need high capacity-factor power at low costs.  
• 2nd Topic of the Week: We take another look at Air Products following a company release that suggests all is well and an activist release that takes the gloves off and suggests the very opposite – we think it is time for leadership refresh and struggle to see a better option than the activist proposal.
• Otherwise: We discuss PVC recycling, low carbon prices in Europe, ExxonMobil’s quest for power, and autos.

Exhibit 1: The chart shows slowing momentum in announced hydrogen projects – similar slowdowns exist in most elements of sustainability and energy transition

Source: C-MACC Estimates and Company Announcement