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In recent years, central bankers globally added climate change to their mandate. Or at least to their talking points.
Article originally published by Forbes. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
Published by
09 Oct 2023
In recent years, central bankers globally added climate change to their mandate. Or at least to their talking points. A 2021 survey revealed that 63% of central bankers believe climate change fits within their purview. Members of the European Central Bank even declared the battle against climate change a “core duty.” With this promising stance, environmentalists eagerly anticipated a wave of support from these institutions.
However, fast forward a few years, and things have taken a turn. Central banks have rapidly hiked interest rates, and it's the renewable sector that is the most impacted. Multiple renewable companies, including Brookfield Renewable Corp, Algonquin Power, and NextEra EnergyNEE, are witnessing their stocks hit 52-week lows in the last few weeks.
Some of the benefits of renewables are the exact things that make them more susceptible to this hiking cycle. Historically, the long lifespan of renewable assets was a
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