A shift to clean energy “is just not going to be a straight line like maybe we all hoped for”, said Sarah Norris, head of ESG equities and manager of the Global Impact Equity strategy at abrdn, which has trimmed some holdings in renewable project developers.
An anti-green backlash in 2024’s global election-supercycle is already taking a toll on environmental, social and governance-focused assets, with an ultimate test still to come in the US presidential vote.
Investors have pared exposure to sectors including renewable energy and electric cars as candidates in some of the dozens of nations holding polls this year have raised concerns over the costs and speed of efforts to curb emissions.
