Disappointment And Desperation – Are Conference Tones Changing?

C-MACC Weekly Sustainability and Energy Transition Report

Disappointment And Desperation – Are Conference Tones Changing?

• 1^st Topic of the Week: At the World Hydrogen Leaders conference in Houston, we saw lots of presenters trying to be enthusiastic, but the undertones are more negative – the need for more supply and demand side stimulus – the lack of FID progress – concerns about changing legislation in the US – all against a backdrop of more evidence of worsening weather events.
• 2^nd Topic of the Week: Is the water business the jewel in the DuPont crown?
• Otherwise: We look at the Dow decarbonizing plans, noting that the company is pulling multiple levers – carbon capture, blue hydrogen, and nuclear, to lower its carbon footprint and low carbon polymers and recycling to address customer needs.

Exhibit 1: Lots of announcements but not much moving to construction – this was the theme of the conference.

Source: S&P Global, May 2024