The decision by House Republicans to pass a tax bill that would do away with many of the incentives contained in the 2022 Inflation Reduction Act threatens to upend investment strategies premised on the clean energy transition.
Inside one of Europe’s biggest asset managers, there’s growing concern that Republican efforts to gut legislation supporting key industries such as clean energy may result in the US losing its status as a destination for investor capital.
“For investors, the message is clear: The US may no longer offer the reliable investment runway it did just months ago,” said Alex Bibani, a London-based senior portfolio manager at Allianz Global Investors, which oversees some US$650 billion ($834.63 billion) in assets.
