Central Banks Are Waging War On Renewables

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 Energy
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, are witnessing their stocks hit 52-week lows in the last few weeks.